Daily Alpha and Summary. March 12, 2025

DeFi

Hyperliquid whale 0xf3f4 closed his HL ETH long just before CPI and it cost Hyperliquid in bad debt ($4M) while whale made 1.8M in profit (deposited 15.2M withdrew 17M it). Hyperliquid salvages the situation by updating their BTC and ETH to 40x and 25x respectively to increase maintenance margin requirements for larger positions

Rumors say the whale is a competitor

Starknet plans to settle on both Bitcoin and Ethereum and unite them, aiming for full decentralization by 2026 (Stage 2). StarkWare will also create BTC and ETH reserves.

Crypto payment Mesh announce $82M series B round led by Paradigm

State of the Market

Canada to suspend 25% electricity tariff on USA

Canada to sell US bonds, size undisclosed. Canada will borrow US dollars thereby depreciating the CAD

SEC delays SOL LTC DOGE XRP filings to extends them next decision on approval will be on or before April 4th 2025. This probably comes due to SEC receiving backlash for its very pro crypto stance recently unlike its precedent and also, they haven’t elected a chair yet

Fidelity files to add staking to ETH ETF

South Korea to release institutional crypto investment guideline in Q3