Michael Saylor said Strategy plans to raise $42 billion to purchase more Bitcoin. The update outlines a fundraising target tied to expanding the firm's Bitcoin holdings, reinforcing its continued focus on accumulating BTC as a core treasury strategy.

Jito has added Bitwise Onchain Solutions as the newest operator running a BAM validator on Solana. Bitwise is bringing institutional-scale credentials to the network, citing eight years in crypto, $15 billion in assets under management, and more than 40 products across the digital asset market. The move places Bitwise directly inside Solana's validator infrastructure, extending its involvement beyond passive exposure through ETFs and other funds.

PANews, March 23 — CoinDesk reports that Nasdaq-listed drugmaker NovaBay Pharmaceuticals has rebranded as Stablecoin Development Corporation, switching its ticker from NBY to SDEV as it pivots from healthcare into cryptocurrency and stablecoin development. The company recently completed a private financing of about $134 million, backed by investors including Framework Ventures and Tether Investments. Proceeds will largely be used to expand SDEV's position in SKY, the governance token of the decentralized stablecoin protocol Sky. SDEV says it holds roughly 2.06 billion SKY tokens, about 8.78% of total supply, valued at around $147 million. More than half of the position was purchased in the secondary market at an average price of about $0.065. The rest was received as part of the financing consideration paid in cash and stablecoins. The company has started staking SKY and has accumulated approximately 26.6 million SKY in staking rewards to date.

Core Scientific (CORZ) has expanded its financing facility to $1 billion after securing an additional $500 million commitment from J.P. Morgan. The company said the funding will be used to develop data centers and support AI workloads, adding to an earlier commitment from Morgan Stanley.

The U.S. Securities and Exchange Commission has sent two draft rules to the White House Office of Management and Budget for review, covering disclosure requirements for the digital-asset sector and for hedge funds and private-equity funds. The digital-asset proposal features an "innovation exemption" that would allow eligible firms to operate for a set period without registering as regulated entities such as brokers or exchanges. A separate proposal would revise Form PF, the filing used to report fund performance and risk metrics. SEC Chair Paul Atkins previously pushed back the effective date of the Form PF-related updates to October 1 and said the agency would look for ways to ease disclosure burdens. (Bloomberg)

The U.S. Securities and Exchange Commission has submitted two proposed rules to the White House Office of Management and Budget for review, Bloomberg reported. One proposal focuses on disclosure requirements for the digital assets industry. It includes an "innovation exemption" that would allow eligible companies to avoid registering as regulated entities such as brokers or exchanges for a specified period. The second proposal revises Form PF, the reporting form used by hedge funds and private equity funds to disclose performance and risk information. SEC Chair Paul Atkins previously pushed the effective date of the new Form PF requirements to October 1 and said the agency will look for ways to reduce disclosure burdens.

Bitcoin miner Core Scientific has secured a $500 million credit facility led by JPMorgan Chase, adding to a previously committed $500 million from Morgan Stanley and taking its total financing to $1 billion, The Block reported. The facility is priced at SOFR plus 250 basis points. Core Scientific said it will deploy the proceeds to buy real estate and equipment as it accelerates the conversion of its mining sites into high-density AI computing data centers. The company also plans to sell most of its bitcoin reserves by 2026 to support its strategic pivot.

PANews, March 23 — Bloomberg reported that the U.S. Securities and Exchange Commission has sent two draft proposals to the White House Office of Management and Budget for review. One proposal targets regulatory exemptions for digital assets, while the other focuses on disclosure requirements for hedge funds and private equity funds. SEC Chair Paul Atkins said the digital-asset package would create an "innovation exemption," allowing eligible firms to operate for a limited period without registering as brokers, exchanges, or other regulated entities. The private-funds proposal could revise Form PF, weighing the supervisory value of the reported data against the compliance burden on investment managers. The SEC previously pushed back the effective date of expanded Form PF disclosures backed by former Chair Gary Gensler to October 1.

PANews, March 23 — Polygon Labs has acquired decentralized exchange IDEX alongside Katana, GSR's Ethereum scaling network, according to The Block. The deal underpins the launch of Katana Perps, a perpetuals platform powered by IDEX's matching engine. IDEX, an early hybrid "DeFiCeFi" exchange, will supply Katana Perps with order-book matching and AMM-based liquidity infrastructure. Katana said the acquisition supports its plan to build a stronger technology stack and diversify revenue, with the goal of completing core infrastructure ahead of regulatory clarity that could open room for onchain perpetuals. Katana's mainnet is already live on a customized version of OP Stack and integrated with Polygon AggLayer. Initial market-making support for Katana Perps will be provided by GSR, Selini Capital, and Auros.