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According to a report by The Block, Mizuho Bank research analysts released a report on Thursday stating that the financial feature X Money launched by Elon Musk's X platform has the potential to disrupt the U.S. payment industry, but the cryptocurrency integration plan may face regulatory obstacles.Mizuho analysts Dan Dolev and Andrew Jenkins wrote in a client report that X Money is positioned as the financial infrastructure layer of the X platform, aiming to integrate instant messaging, bank deposits, and commercial transaction functions, similar to the "super app" model of WeChat Pay or Alipay. With 500 to 600 million monthly active users on the X platform and Musk's background as a co-founder of PayPal in the payment industry, X Money has the potential to disrupt the U.S. payment industry.On the regulatory front, the analysts pointed out two major potential obstacles: first, the recent "CRYPTO Act" proposed in New York aims to criminalize unlicensed virtual currency operations in the state, which will raise the compliance threshold for X's future cryptocurrency integration plans; second, the "Clarity Act" may restrict non-bank financial platforms from offering yields to users, potentially hindering X Money's plan to provide users with an annualized yield of 6% on cash balances, with analysts stating that the timing for the launch of this yield product is "particularly sensitive."Mizuho also downgraded PayPal (PYPL) stock rating to "neutral," noting that PayPal and its Venmo app face the most direct substitution risk, as X is targeting the same peer-to-peer transfer and digital wallet entry points.This week, the X platform also launched a new feature called "Cashtags," allowing users to view financial data for stocks and cryptocurrencies directly in their timeline.

Web3 asset data platform RootData issued a daily transparency alert on Twitter (X), noting that information such as teams, key calendar events, and token data for projects like LeverUp, Flash.Trade, PRDT, f(x) Protocol, and Tectonic is missing. It calls on project teams to submit/update their information on RootData to improve their transparency scores. Additionally, RootData stated that it will continue to monitor and expose "black box" projects that lack core information.It is reported that the RootData transparency score is used to measure the integrity and timeliness of projects, aiming to reflect the information disclosure status of projects and urging project teams to immediately claim their projects. The transparency score is divided into five levels from A to F, with lower scores indicating less complete information disclosure and higher risks of wrongdoing, requiring investors to exercise high caution.

According to CoinDesk, affected by the situation in the Middle East, Binance is offering its employees in the UAE the option to temporarily relocate to Hong Kong, Tokyo, Kuala Lumpur, and Bangkok.A Binance spokesperson stated, "In light of the recent regional tensions, we are providing our employees with the option for temporary relocation as a precautionary measure prioritizing employee welfare, to offer flexibility and support during uncertain times." The spokesperson also mentioned that many employees are currently choosing to stay in the UAE, and the company's operations in the UAE remain normal.It is reported that Binance has about 1,000 employees in the UAE, accounting for 20% of its global workforce, and the company's global operations are also supported from Abu Dhabi. This relocation proposal comes after the signing of a ceasefire agreement. The regional conflict, which lasted for about six weeks, has impacted business activities in the UAE. Since the outbreak of the conflict in late February, the UAE has intercepted hundreds of missiles and drones, with another interception occurring on April 8.The conflict in the Middle East has affected several cryptocurrency and major events in the UAE: the TOKEN2049 Dubai summit has been postponed to 2027, the TON Gateway has been canceled due to safety and travel concerns, the Middle East Energy Dubai Exhibition and the Dubai International Boat Show have been postponed, and the Bahrain and Saudi Arabia F1 events, which have sponsorship exposure value for the crypto industry, are also facing cancellation.

Zhao Changpeng stated in an interview with TBPN that quantum computing could disrupt existing cryptocurrency mechanisms, and Bitcoin may need to fork to adopt quantum-resistant encryption technology. "Quantum computing may be able to break existing encryption mechanisms, but as quantum computing develops, new encryption algorithms will emerge. There are already quantum-resistant encryption algorithms, and quantum computers do not have an advantage in breaking these algorithms. Therefore, we just need to upgrade the protocol and adopt these encryption mechanisms."

The crypto wallet app Phantom experienced a temporary service interruption, affecting token prices and balance displays. The team is actively working to fix the related issues.

According to The Street, Goliath Ventures, a cryptocurrency company based in Florida, has filed for Chapter 11 bankruptcy reorganization in the Southern District of Florida.The company is alleged to be linked to a $328 million Ponzi scheme, with over 2,000 victim investors, including Gregory Wilson, who lost approximately $8.74 million, and John Euliano, who lost about $1.28 million. Additionally, plaintiffs have filed a class-action lawsuit against JPMorgan Chase early next month, accusing it of turning a blind eye to suspicious transactions involving Goliath Ventures.Previously, Goliath Ventures' former CEO Christopher Alexander Delgado was arrested for allegedly being involved in the $328 million Ponzi scheme and faces charges of wire fraud and money laundering. Delgado lured victims under the guise of investing in cryptocurrency liquidity pools and promising monthly returns, but the funds were used to pay returns to earlier investors, purchase luxury homes, and finance extravagant activities.

Yili Hua posted on platform X, stating that the current cryptocurrency market is in a bear market and the war is not over, lacking a significant rebound. The performance of the cryptocurrency sector over the past four years has been disappointing, with the crypto middle class, retail investors, and VCs all being harvested, while exchanges, market makers, and project teams continue to siphon off funds. Currently, the market's capital inflow mainly comes from Wall Street ETFs, DAT, and a few believers, and there has been no disruptive innovation in the cryptocurrency sector yet.

According to Jinshi reports, the Indian rupee has fallen to a historic low against the US dollar, with the US dollar reaching 94.566 against the Indian rupee at one point.

According to community feedback, the X platform is currently gradually returning to normal. According to Downdetector records, there have been 5 significant outages/wide-scale interruption events on the platform in the past 3 months.

According to Arkham data, at 00:36, 9,825,300 SYRUP (worth approximately $2.27 million) was transferred from FalconX to an anonymous address (starting with 0x9291...).

Strategy founder Michael Saylor stated, "If AI compresses terminal value and makes all moats temporary, capital will flow to assets that are not at risk of disruption. Bitcoin is digital capital, scarce, neutral, and not affected by AI disruption. In this transition, BTC should become the main beneficiary."

BlockFills, headquartered in Chicago, has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware. Documents submitted by the company indicate that its estimated assets are between $50 million and $100 million, while estimated liabilities are between $100 million and $500 million.In a statement released on Sunday, BlockFills stated that after extensive discussions with investors, clients, and creditors, the Chapter 11 bankruptcy process is the "most responsible path forward." This filing for reorganization will allow the company to undergo an orderly restructuring under court supervision while maintaining transparency and oversight. The company added that this move aims to "stabilize the business, seek additional liquidity and avenues for recovery, and explore potential strategic transactions," while emphasizing that protecting customer interests "remains a top priority."

Circle CEO Jeremy Allaire stated that traditional banks face pain points in cross-border remittances such as high fees, slow speeds, and multiple intermediaries, while stablecoins can enable instant, low-cost peer-to-peer transactions.He pointed out that in Turkey, locals are more inclined to hold digital dollars to avoid the risk of local currency depreciation. He believes that in the future, software tools based on open internet infrastructure are expected to compete with traditional banks, but banks may also transform by integrating blockchain technology.

According to Arkham monitoring, Alameda unstaked $17 million SOL and transferred it to the bankruptcy account. Alameda regularly allocates SOL to creditors each month, and currently, its on-chain account still holds $321 million SOL.

As the Middle East conflict leads to flight cancellations and logistics disruptions, a large amount of gold stranded in Dubai is being sold at a noticeable discount.Insiders reveal that due to exceptionally high transportation and insurance costs, and the inability to guarantee timely delivery, many buyers have suspended new procurement orders. As a result, under the pressure of indefinitely bearing storage and capital costs, traders have started selling gold at discounts of up to $30 per ounce below the London benchmark price.Sources say that although some gold has been loaded onto flights leaving Dubai since the middle of this week, as of Friday, many batches of gold remain stranded. The UAE, especially Dubai, is a significant global hub for gold refining and trading, exporting gold to various parts of Asia and serving as an important transit point for gold to Switzerland, the UK, and several African countries. Due to the escalation of the conflict in the Middle East, some airspace in the UAE has been closed; meanwhile, the military strikes by the US and Israel against Iran have entered their seventh day, with no signs of an end in sight.

According to Jinshi, Federal Reserve official Daly stated that whether the rise in oil prices will hinder the Fed's interest rate cuts depends on how long the supply disruptions last.

According to Jinshi News, the dollar has reopened its upward trend triggered by the Middle East conflict, with inflation concerns intensifying market worries that U.S. interest rates will remain high for a longer period. Due to disrupted fuel supplies and closed shipping routes, gas-powered aluminum plants in the Middle East have suspended production and delivery, further exacerbating inflationary pressures from energy supply shocks. The Federal Reserve watch tool from the Chicago Mercantile Exchange shows that the current probability of only one rate cut this year is 36.2%, up from 22% a week ago.

According to Jinshi reports, as the conflict in the Middle East has led to the suspension of most air transport to and from Dubai, the circulation of gold and silver globally is facing serious disruptions. Traders indicate that this situation may further exacerbate the already highly volatile precious metal prices this year. Dubai is a significant hub for precious metal transportation, with about 20% of the world's gold circulation passing through the region last year. John Reade, senior market strategist at the World Gold Council, stated that the availability of gold supply has become an issue.

According to CCTV News, on March 2 local time, Amazon Web Services announced that three of its data centers in the Middle East were attacked by drones, resulting in significant business disruptions.In a statement released on its official website, the company stated that two attacks directly hit its data centers located in the UAE, while another facility in Bahrain was affected by nearby drone explosions. The company did not specify the responsible party for the attacks. The company stated, "These attacks caused structural damage, affecting the power supply to our infrastructure, and in some cases triggered fire suppression systems, leading to additional water damage. We are working closely with local authorities and prioritizing employee safety during the recovery process." The company noted that the damage has affected multiple Amazon services, and given the extent of physical damage, recovery efforts may "take a long time."