Vietnam plans to launch a pilot program for licensed cryptocurrency exchanges in March, restricting domestic users from trading on overseas platforms. Five enterprises have already passed the review. The pilot will run for 5 years with limits on the number of exchanges and foreign shareholdings. Violations in trading will result in fines of up to 100 million Vietnamese dong.

March 16th, the trading platform Ventuals experienced a bank run on HYPE withdrawals, causing vHYPE to plummet briefly to $9, then recover to $31, currently trading at $37.5, still at an 18% discount. The CEO stated they will halt withdrawals to prevent disruption and are working with private LPs to increase HYPE holdings. Users can exchange vHYPE through secondary liquidity pools at a 0.85:1 ratio, with up to 15% discount available for instant liquidity.