ChainCatcher

GMX Labs has released a proposal for an upgrade to its leadership structure, which has been approved by DAO governance voting with 96.42% in favor. The proposal points out that as the team expands and competition in the perpetual DEX space intensifies, GMX Labs' early flat, founder-driven organizational structure is no longer sustainable and needs to transition to a clearer and more accountable traditional leadership structure.The proposal announces the introduction of a CEO through a public recruitment process, with candidates drawn from DeFi, CeFi, traditional finance, and the technology industry. The goal is to complete the recruitment and onboarding by April 2026, and to complete the organizational restructuring and submit a new contributor token allocation plan aligned with performance to the DAO by June. The CEO's responsibilities include setting the strategic direction for GMX Labs, establishing a functional leadership team, strengthening partnerships, and representing GMX Labs in industry events.In terms of compensation, the CEO's base salary will be between $150,000 and $200,000 per year, paid in stablecoins; performance incentives will be denominated in GMX tokens and directly linked to the growth of protocol fees, with the current annual protocol fee baseline being approximately $60 million. A 50% increase in fees will yield partial rewards, while a 100% increase to about $120 million will yield the full base reward pool of 40,000 GMX tokens. A 125% increase to about $135 million will additionally grant 10,000 GMX as a special reward. The GMX tokens received will also be adjusted by 0.5 to 1.5 times based on the 30-day average price of GMX, with an annual token compensation cap of 75,000 GMX. Of the performance rewards, 25% will be unlocked immediately upon meeting targets, while the remaining 75% will vest linearly over 24 months, with unvested portions forfeited upon early departure.During the transition period, an interim leadership committee composed of members X, Coin, B, and Kal will be responsible for maintaining operations, advancing the existing roadmap, and leading the search for the CEO.

According to SoSoValue data, yesterday (Eastern Time March 20), the total net outflow of Ethereum spot ETFs was $41.9715 million.The Ethereum spot ETF with the highest single-day net inflow yesterday was Blackrock Staked ETH ETF ETHB, with a single-day net inflow of $5.4658 million. Currently, the historical total net inflow of ETHB has reached $160 million.The Ethereum spot ETF with the highest single-day net outflow yesterday was Blackrock ETF ETHA, with a single-day net outflow of $31.4508 million. Currently, the historical total net inflow of ETHA has reached $11.912 billion.As of the time of writing, the total net asset value of Ethereum spot ETFs is $12.328 billion, and the ETF net asset ratio (market value as a percentage of total Ethereum market value) is 4.79%. The historical cumulative net inflow has reached $11.729 billion.

According to SoSoValue data, yesterday (Eastern Time March 20), the total net outflow of Bitcoin spot ETFs was $52.1092 million.The Bitcoin spot ETF with the highest net inflow yesterday was the VanEck ETF HODL, with a net inflow of $2.9646 million. Currently, HODL's historical total net inflow has reached $1.182 billion.The Bitcoin spot ETF with the highest net outflow yesterday was the Blackrock ETF IBIT, with a net outflow of $45.9441 million. Currently, IBIT's historical total net inflow has reached $63.257 billion.As of the time of writing, the total net asset value of Bitcoin spot ETFs is $90.301 billion, and the ETF net asset ratio (the market value compared to the total market value of Bitcoin) is 6.44%. The historical cumulative net inflow has reached $56.231 billion.

According to Whale Alert monitoring, a dormant Bitcoin whale address that has been inactive for 13.7 years has just been activated, containing 2,100 BTC (worth $147 million), which were only valued at $13,685 in 2012.

According to monitoring by Lookonchain, the BlackRock address deposited 47,728 ETH into Coinbase Prime, worth approximately $102 million, and also deposited 544 BTC, worth approximately $38.3 million, totaling about $140.43 million.

DeFiance Capital CEO Arthur posted on the X platform, stating that in the short term, "TACO" (Trump's last-minute retreat) and a cooling of the situation in the Middle East are unlikely to occur, as both the U.S. and Israel are continuing to pressure Iran.He pointed out that the global supply chain may be further disrupted in the coming weeks. Additionally, according to a previous report by Axios, the Trump administration is considering occupying or blockading Iran's Khark Island to force it to reopen the Strait of Hormuz.

According to the official website of the U.S. District Court for the Southern District of New York, the cryptocurrency exchange Gemini Space Station, Inc. (Gemini) and its founders Tyler Winklevoss, Cameron Winklevoss, and other executives are facing a securities class action lawsuit. The lawsuit alleges that Gemini made significant misleading statements in the documents related to its initial public offering (IPO) on September 12, 2025, failing to disclose its plan to shift from its core cryptocurrency trading platform business to a prediction market-centered "Gemini 2.0" model.The lawsuit documents also point out that Gemini announced a 25% layoff in February 2026 after the IPO and exited the markets in the UK, EU, and Australia. Additionally, the company's Chief Financial Officer Dan Chen, Chief Operating Officer Marshall Beard, and Chief Legal Officer Tyler Meade have recently left the company. According to Bitget market data, Gemini's stock price is currently reported at $6.3, down 77.5% from the issuance price of $28, resulting in significant losses for investors.

According to Jinshi Data, the Shanghai Stock Exchange has accepted the IPO application of Yushu Technology Co., Ltd. for the Sci-Tech Innovation Board, with a proposed financing amount of 4.202 billion yuan.

CoinGlass stated, "During yesterday's decline, Bitcoin's open interest (OI) actually increased as the price fell, indicating that shorts were clearly adding positions, forming a relatively clean short position buildup. This wave of movement ultimately touched around $68,750.Currently, the price has rebounded, but OI has shown almost no significant change, which usually means this rebound is not driven by new longs. Therefore, it currently resembles range-bound fluctuations rather than a clear trend reversal. Moving forward, it is important to focus on the changes in Bitcoin's price and OI."

According to official news, Coinbase's perpetual contract products are officially open for trading to eligible non-U.S. users.The listed assets include stocks from the "Big Seven Tech" companies, including Apple, Microsoft, Alphabet, Amazon, NVIDIA, Meta Platforms, and Tesla, as well as perpetual contracts for the SPY and QQQ ETFs (in regions where trading is allowed).The products support continuous trading 24/7, offering up to 10x leverage on individual stocks and up to 20x leverage on ETF perpetual contracts, settled in USDC, and support unified margin management across all perpetual contracts and spot positions.

According to Coinglass data, in the past 24 hours, the total liquidation across the network was $311 million, with long positions liquidated at $200 million and short positions liquidated at $111 million. Among them, Bitcoin long positions were liquidated at $52.0589 million, Bitcoin short positions at $40.998 million, Ethereum long positions at $48.6294 million, and Ethereum short positions at $32.6811 million.In addition, in the last 24 hours, a total of 103,431 people were liquidated globally, with the largest single liquidation occurring in Hyperliquid - XYZ:GOLD-USD worth $3.675 million.

According to Gate market data, BTC/USDT is currently priced at $71006.6, with a 24-hour increase of 1.23%.