Odaily reports that Velocity, a stablecoin payment infrastructure startup, announced the completion of a $38 million Series A funding round. This round was led by crypto investment firm Dragonfly, with participation from Coinbase, Capital One Ventures, Wintermute, and other institutions. Velocity CEO Eric Queathem did not disclose the latest valuation. Founded in 2025, Velocity focuses on providing stablecoin payment solutions for enterprises, payment service providers, fintech companies, and financial institutions, helping them leverage dollar-pegged tokens to optimize cross-border payments, fund settlement, and treasury management processes.Currently, Velocity has covered markets in the United States, parts of Europe, and Australia. The company plans to use the new funds to apply for licenses, expand into Africa and Latin America, while also investing in building more secure asset custody infrastructure and developing new features, including stablecoin yield products. (Fortune)

1. “Fed Whisperer”: Rate cut discussions are nearly over, and the Fed has begun seriously discussing the possibility of a rate hike;2. SpaceX discloses holding 18,712 BTC, ranking as the seventh largest corporate Bitcoin holder globally;3. SpaceX officially files for an IPO, without disclosing the offering size or valuation;4. Goldman Sachs and Morgan Stanley are handling OpenAI’s IPO filing, which could be submitted as early as Friday;5. Terraform’s liquidator accuses Jane Street of using insider information from a private Telegram group to sell UST early and short the token;6. Bloomberg: Monetary Authority of Singapore revokes Bsquared’s crypto payment license;7. ZachXBT: BlockDAG and ZKP presale funds allegedly mixed and transferred for illegal marketing payments;8. LayerZero releases report on KelpDAO attack: North Korean hacker group implicated, security strategies to be adjusted;9. Catena Labs completes $30 million Series A funding round, with participation from a16z Crypto;10. AI fintech company Moment secures $78 million in funding, led by Index Ventures;11. Fintech company Mercury raises $200 million, with participation from a16z and Sequoia Capital;12. AI collaboration assistant Viktor closes a $75 million funding round, led by Accel;13. Variational completes a $50 million Series A round, led by Dragonfly Capital;14. Mouro Capital’s fund raises $400 million, to invest in areas such as AI and blockchain.

Monitoring by Odaily Seer Prophet Channel shows that on predict.fun, the probability of "Variational's FDV market cap exceeding $500 million one day after opening" has risen to 57%, up 12% in 24H. Additionally, the probability of "Variational's FDV market cap exceeding $800 million one day after opening" has risen to 36%.Last night, Variational announced the completion of a $50 million Series A funding round, led by Dragonfly Capital, with participation from Bain Capital Crypto and Coinbase Ventures.Odaily Seer Prophet Channel continues to monitor the prediction market — seeing changes before they are priced in.

Odaily Odaily Planet Daily: Dragonfly partner Haseeb Qureshi stated on X that the Central Limit Order Book (CLOB) model cannot solve the liquidity problem of RWA assets. Hyperliquid has indeed mastered the liquidity of a few RWA macro assets, but beyond the top 10 assets by trading volume (which account for approximately 90% of the volume), liquidity drops off a cliff.The order book model can work when retail demand is strong enough, but if every asset requires building its own order book, it means you have to cold-start demand ticker by ticker, subsidizing to 'rent' liquidity, ultimately resulting in a collection of markets with thin liquidity.Variational bypasses all of this with the RFQ (Request for Quote) model. RFQ is the true trading method for institutions. In this model, market makers provide instant quotes on demand and hedge in primary trading venues once orders are placed. This allows Variational to directly tap into mainstream TradFi liquidity and map it onto the chain – where margins are managed in smart contracts, settlements are completed using stablecoins, and liquidity comes from users already trading in the largest underlying markets like the CME and NYSE.This means anyone can permissionlessly access the same market depth and spreads as traditional markets. Once the cold-start problem is solved, the launch speed of new markets can be as fast as releasing software. It is expected that by next year, RWA perpetual contracts will become the largest category of contracts on-chain, even surpassing the combined size of BTC and ETH perpetual contracts. Ultimately, the platform that wins this race will not look like a traditional exchange.Yesterday's news: Variational announced the completion of a $50 million Series A funding round, led by Dragonfly Capital, with participation from Bain Capital Crypto and Coinbase Ventures.

According to DefiLlama data, Variational's open interest exceeds $800 million, ranking fourth in the Perp DEX sector. Notably, among the top five Perp DEXs by open interest, Variational is the only platform that has not yet issued a token.Previously, it was reported that last night Variational announced the completion of a $50 million Series A funding round, led by Dragonfly Capital.

Odaily Odaily reports that decentralized derivatives trading platform Variational has announced the completion of a $50 million Series A funding round. The round was led by Dragonfly Capital, with participation from Bain Capital Crypto and Coinbase Ventures. Headquartered in the Cayman Islands, the company is dedicated to building an on-chain derivatives protocol for institutional and traditional finance traders. By aggregating liquidity from both traditional finance and crypto markets, it aims to provide instantly tradable on-chain markets for real-world assets such as oil and commodities. Its core product, the Omni platform, adopts a zero-fee model and incorporates a liquidity pool mechanism to enhance market depth and execution efficiency.Variational stated that its goal is not to directly compete with centralized exchanges, but rather to connect multi-source liquidity through a "brokerage-style" model, including traditional finance market makers and major crypto trading platforms, in order to solve the "liquidity cold start" problem for on-chain markets. (Fortune)

Odaily News Feng Bo, the founder of Dragonfly Capital, posted on X: "I rarely speak out on X, but this time I want to clarify some facts. When I first founded Dragonfly, it was a fund of funds. Through this business, I met many very talented venture capitalists, and among them, Haseeb Qureshi was undoubtedly the most shining star. Therefore, I invited him to join and co-found our venture capital business with me. I have been a VC for many years, and in my 30-year venture capital career, Haseeb has built one of the best partner teams I have ever experienced; he is the backbone of the team. Co-founding our venture capital business with Haseeb has been an extremely valuable journey. I also look forward to continuing this partnership for many years to come."Previously, Dragonfly Managing Partner Haseeb Qureshi and former co-founder Alexander Pack (now co-founder of Hack VC) recently engaged in a public debate on social media, each presenting their own version regarding the early history and investment leadership.

1. Coinbase CEO: Banking Association, Not Banks Themselves, Is Main Cause of Market Structure Bill Deadlock;2. Base to Depart from Optimism Ecosystem, Shifting to Independent Unified Tech Stack;3. Kraken Acquires Token Management Platform Magna, Continues Expansion Ahead of IPO;4. Goldman Sachs CEO David Solomon: Personally Holds a "Very Small Amount" of Bitcoin;5. TD Cowen: State Governments Still Hold Advantage in Prediction Markets Legal Dispute Despite CFTC Intervention;6. Fed Meeting Minutes: Almost All Participants Supported Pausing Rate Actions in January;7. Moonwell Releases Official Statement on Oracle Configuration Error Incident, Fix Governance Proposal Planned for Launch;8. CZ Unfollows EnHeng;9. Sports Prediction Market Novig Completes $75 Million Series B Funding Round Led by Pantera Capital;10. AMLBot: 65% of Cryptocurrency Theft Cases in 2025 Driven by Social Engineering;11. Hyperliquid Launches DeFi Lobbying Organization Led by Prominent Crypto Lawyer;12. Jupiter DAO Initiates Jupuary Airdrop Vote, May Return 700 Million JUP to Treasury;13. Over 50% of U.S. Investors Fear IRS Penalties Due to New Regulations Implemented This Year;14. Arthur Hayes: HYPE to Reach $150 in July, a Roughly 5x Increase from Current Levels;15. Dragonfly Capital Completes $650 Million Fund IV Fundraising, Early Bets on Polymarket and Rain;16. NilChain to Cease Operations on March 23, Advises Holders to Migrate NIL to Ethereum.

Odaily News Dragonfly Capital announced the completion of its fourth fund, raising $650 million. Dragonfly Capital partner Rob Hadick stated that this fundraising round benefited from early investments in projects such as Polymarket and Rain. Dragonfly Capital was co-founded by Alex Pack and Bo Feng in 2018 and is currently led by Haseeb Qureshi and Tom Schmidt. Tom Schmidt pointed out that the token landscape in the crypto industry is shifting from application-native tokens towards tokenized products representing real-world assets. The growth of digital-native currencies from zero to trillions in scale within 10 years represents a long-term structural trend.

1. Arthur Hayes bought another 137,100 PENDLE tokens, worth $260,400; 2. Science and Technology Daily: Be wary of criminals acquiring digital RMB wallets to carry out illegal activities such as telecommunications fraud; 3. Dragonfly Capital deposited 6 million MNT into Bybit in the past 7 days and still holds $10.76 million worth of tokens; 4. Vitalik Buterin: Predictive markets are healthier than traditional markets and help in seeking the truth; 5. Tether's mobile crypto wallet will integrate AI and will only support four assets: BTC and USDT. 6. Three hours ago, an ETHFI investor deposited 900,000 ETHFI into Binance, bringing the total number of ETHFI deposited into Binance to 31.28 million, worth $36.58 million. 7. Bitdeer mined 144.1 BTC this week, with a total holding of 1,996.7 BTC, a decrease of nearly 20% compared to the previous week; 8. BTC fell below 88,000 USDT, a 24-hour drop of 0.19%.