Golden Weekly is a weekly blockchain industry summary column launched by Golden Finance, covering key news, mining information, project updates, technological advancements, and other industry dynamics. This article is part of the weekly news section, giving you a glimpse into the major events in the blockchain industry this week.
Headlines
▌Musk: Grok to Launch Article Summary Feature to Improve Information Access Efficiency
Elon Musk stated that the number of articles on the X platform is growing rapidly, and Grok will soon launch an article summary feature to improve information access efficiency.
Elon Musk announced that the number of articles on the X platform is growing rapidly, and Grok will soon launch an article summary feature to improve information access efficiency.
Saudi Aramco shares surged 4.3%, marking the largest gain since April 2023. (Jinshi) WTI crude oil prices jumped 12.00% intraday, currently trading at $88.42 per barrel. (Jin Shi) On March 7th local time, Iranian President Pezechzian delivered a speech calling on the nation to unite and defend Iran, stating that Iran would never surrender unconditionally. In his speech, Pezechzian apologized to neighboring countries and stated that the interim leadership council had approved on the 6th a cessation of attacks on neighboring countries and missile launches unless those countries launched an attack on Iran first. (CCTV News) US President Trump posted on social media that there will be no agreement with Iran unless it surrenders unconditionally! He added, "After electing a great and acceptable leader, we and many excellent and courageous allies and partners will work tirelessly to pull Iran back from the brink of destruction and make it bigger, better, and stronger economically. Iran will have a great future." "Make Iran Great Again (MIGA!)" (Jinshi)
Policy
▌South Korea May Ban Corporate Investment in Stablecoins
The South Korean Financial Services Commission's "Guidelines for Corporate Virtual Currency Trading" may exclude stablecoins from the scope of permitted investments. The guidelines will outline the standards for listed companies and registered professional investment firms trading digital assets for investment or financial purposes. To prevent blind investment in the early stages of the market, regulators have decided to exclude dollar-denominated stablecoins (such as Tether (USDT) and USD Coin (USDC)) when defining the scope of permitted investments.
▌Washington Insider: Clarity Act Could Be Passed as Early as July
Kristin Smith, president of the Solana Policy Institute, recently commented on the legislative progress of the Clarity Act.
She stated that although the bill faces obstacles due to Coinbase CEO Brian Armstrong withdrawing his investment and controversies within the banking industry, its complexity determines the protracted legislative process. Current negotiations exhibit two new characteristics: first, direct involvement from high-ranking White House officials, with presidential aides such as David Sacks pushing for dispute resolution; and second, the first-ever participation of traditional financial institutions in the negotiations. If the Senate Banking Committee can complete its review of the bill in March or April, it is expected to advance legislation before the July recess; otherwise, the next window of opportunity will be extended to the fall.
Smith previously served as head of the Blockchain Association, leading the push for the passage of the Genius Act.
Blockchain Applications
▌Arthur Hayes: Escalating Middle East Situation Drives On-Chain Oil Trading, Reiterates HYPE Target Price Could Reach $150
BitMEX founder Arthur Hayes stated in an article on the X platform that during the weekend when traditional exchanges are closed, market price discovery may shift to crypto-native platforms. He pointed out that against the backdrop of the ongoing escalation of the Middle East conflict, Hyperliquid's perpetual oil contract CL-USDC may become an important price discovery market for oil price movements over the weekend. Hayes further reiterated that, with the increase in related trading activity, the target price of Hyperliquid's platform token HYPE could reach $150.
▌BTC Falls Below $68,000
Market data shows that BTC has fallen below $68,000, currently trading at $67,992.68, a 24-hour drop of 3.77%. Market volatility is high; please manage your risk accordingly.
▌Fed's Hamak: Stablecoins could boost demand for the dollar
Fed's Hamak: A huge effort is needed to shake the dollar's global dominance. Stablecoins could boost demand for the dollar.
▌Fed's Collins: No Urgent Need to Change Monetary Policy Stance; Inflation Expected to Slowly Fall to 2% Target
Federal Reserve's Collins stated that job growth may accelerate but is likely to remain generally moderate; now is the time for the Fed to remain patient and cautious on interest rate policy; any further rate cuts would require clear evidence of a decline in inflation; there is no urgent need to change the monetary policy stance, and inflation is expected to slowly fall to the 2% target; the inflation outlook remains uncertain, with upside risks. He also stated that the Fed's policy is currently in a favorable position, and the Fed's interest rate target is expected to remain stable "for some time."
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