Hong Kong-based stablecoin payments firm RedotPay is pursuing a $150 million pre-IPO raise at a targeted $4 billion valuation ahead of a potential U.S. listing that could happen as early as this year. The company says it is already profitable, while citing annualized total payment volume reaching $10 billion in December with year-over-year growth above 300%. The fundraising effort comes amid senior executive departures and the absence of a sitting CFO.

On March 18, SEC Chair Paul Atkins said he is considering a crypto “safe harbor” that would let projects operate without immediate securities registration while they work toward decentralization. He also described four crypto asset categories—digital commodities, collectibles, tools, and payment stablecoins—as outside securities laws, and suggested custody rules could be revised to allow broker-dealers to hold crypto and traditional securities together.

Citigroup reduced its 12-month Bitcoin price target to $112,000 from $143,000 and lowered its Ethereum target to $3,175 from $4,304. The bank's strategist Alex Saunders cited slower-than-expected U.S. regulatory progress in 2025 as a key factor behind softer assumptions for institution-driven ETF demand. The updated outlook also suggests some policy catalysts may not arrive until late 2026.