SEC Approves Nasdaq Tokenized Equities Pilot; FTX to Distribute $2.2B to Creditors Starting March 31

The SEC approved Nasdaq's tokenized equities trading pilot during the U.S. session, The Block reports. FTX plans to distribute another $2.2 billion to creditors starting March 31. The crypto market shed $100 billion with bitcoin down 5% amid Fed caution, while Trump-linked American Bitcoin overtook Galaxy in treasury rankings with holdings at 6,899 BTC. Other developments include HIVE launching its first AI GPU cluster in Paraguay, Polymarket acquiring crypto startup Brahma to bolster liquidity, and Algorand Foundation cutting 25% of its staff citing macro uncertainty.