Ethena Labs Announces Airdrop Details, SBF Sentenced to 25 Years in Prison

Market Update U.S. equities are flat on the day heading into the holiday weekend. The SPY has risen 0.07%, holding above $523, while the QQQ is down 0.06%, trading at $444. Although the market is closed tomorrow, the February PCE report will be released, and Fed Chair Powell will speak at the Macroeconomics and Monetary Policy in San Francisco. Surprises at either event could have an impact on markets. Crypto assets are rising today, with $BTC (+2.25%) rising above $71k and $ETH (+2.02%) hovering around $3,575. Memecoins are outperforming today, with $DOGE, $BONK, and $WIF gaining 13.82%, 11.15%, and 9.29%, respectively. Asset manager Hashdex has converted its Bitcoin futures ETF into a spot ETF under the ticker DEFI, representing the 11th spot ETF.Ethena Labs, a synthetic dollar protocol offering native yield via delta-neutral strategies, announced it will airdrop 750 million ENA tokens to qualified users starting on April 2nd. The airdropped tokens represent 5% of Ethena’s total supply of 15 billion ENA, and users will receive ENA in proportion to how much they are engaged with the protocol. ENA will also be listed on centralized exchanges when claims go live. The largest wallets will be subject to a 50% linear, pro-rata vesting schedule over six months. A second season of a