Geopolitics

Due to the escalation of the Middle East conflict, WTI crude oil prices surged 19% this week, breaking through $100 per barrel, with market concerns intensifying. Bitcoin fell to 66K, ETF funds outflowed $570 million, and gold and US stocks were also affected, with the US dollar strengthening.

Gate News Announcement, March 8 — On March 9, U.S. President Trump posted on social media: "The short-term rise in oil prices — which will quickly fall after the Iran nuclear threat is eliminated — is just a very small price to pay for the safety and peace of the United States and the world. Only fools would hold a different view."

Tether's USDT leads the stablecoin market with over 550 million users and widespread transaction distribution. Strategic partnerships and increased liquidity drive global adoption, but regulatory challenges in South Korea hinder local access.

Gate News Report, March 8 — When asked about the economic consequences of the Iran war and the rising oil prices, Trump said: "I don't think there's much of a problem. It's just a small bump in the road. We have to go through this detour, and I am very aware of what this detour will entail."

During the interview, Trump issued a tough statement on Iran's new Supreme Leader, saying that without U.S. approval, the leader "won't stay in power for long," and emphasized the need to prevent another crisis, especially avoiding Iran acquiring nuclear weapons.

Gate News Report, March 8, Iranian Mazandaran Province expert meeting representatives stated that the members of the expert meeting have fulfilled their duties, and the successor to Khamenei's legacy will be officially announced soon. The representative pointed out that the expert meeting has never faced such tremendous pressure as it does now, with hostile forces attempting to force the meeting to abandon its chosen candidate, but the members have withstood external interference.

Gate News Report, March 8, driven by geopolitical tensions, the price of Murban crude oil exported from the Middle East broke through $100 per barrel, surpassing global benchmark prices such as WTI and Brent crude oil. Murban crude oil is a key benchmark that can bypass the Strait of Hormuz.

As geopolitical tensions in the Middle East escalate, Bridgewater founder Ray Dalio questions Bitcoin and reaffirms gold as the preferred safe haven. Nevertheless, gold prices fell accordingly, while Bitcoin only experienced a slight correction, indicating that the correlation between the two is weakening. Dalio doubts Bitcoin's transparency and future risks, but he still maintains a small allocation of Bitcoin for diversification.

Iran's "shadow economy" has become the last line of defense against U.S. sanctions through Bitcoin mining and stablecoin trading. After legalizing mining in 2019, Iran utilized cheap electricity for mining and sold the mined Bitcoin to the central bank for trade settlement purposes. Although the rial has depreciated significantly, stablecoins like USDT are used to stabilize exchange rates. As the financial crisis worsens, the public has also turned to Bitcoin to protect their assets.

Gate News Report, March 8: According to NBC interviews, Iran's Foreign Minister announced that the new Supreme Leader will be selected soon.

Gate News Report, March 8 — According to CCTV News, a spokesperson for the Iranian Islamic Revolutionary Guard Corps stated that 60% of Iran's missile and drone firepower targets U.S. bases and strategic interests in the region, while 40% targets Israel.

Gate News Report, March 8: According to sources from Israel, Iran has launched a new round of missile attacks on Israel. Israeli authorities have urged residents to immediately seek shelter.

Around a week has passed since the war between the United States and Israel against Iran, and this man-made disaster has made severe dents in the markets worldwide Following this international tension, the oil, natural gas, currency, and cryptocurrency markets faced major losses, with some

Gate News Report, March 8: According to the U.S. Maritime Administration's official website, the U.S. has canceled the previous warning urging commercial ships to avoid sailing through the Strait of Hormuz and the Persian Gulf whenever possible. This canceled warning was originally set to expire on March 13. Additionally, another maritime warning targeting Iran expired on Saturday. It is currently unclear whether the cancellation of this warning will ease concerns among shipowners and crew regarding the safety of the waterways.

U.S. policymakers view cryptocurrency and blockchain as critical national infrastructure, essential for cybersecurity and the digital economy. Analysts predict a bullish trend, urging clearer regulations to foster innovation and institutional adoption.

According to Netblocks, an internet observatory, the regime disrupted 99% of the country’s connectivity to the internet just hours after the first strikes hit Iran. These measures, which have been implemented by the Iranian regime before, impact the economic activities and communication

Gate News Report, March 8, the Islamic Revolutionary Guard Corps of Iran issued a statement stating that the Revolutionary Guard Navy carried out a joint operation early this morning using drones and ballistic missiles, targeting a U.S. military helicopter base. The statement said that the attack precisely hit helicopter maintenance facilities, helicopter and aircraft fuel tanks, command buildings, and other structures within the base, causing significant damage. Iran stated that after the attack, a fierce fire broke out at the base, with large amounts of black smoke rising, visible from afar. The U.S. side has not responded at this time.

Affected by Middle East production cuts, Brent and WTI crude oil show significant premiums on the Hyperliquid platform, reaching 4.76% and 5.42% respectively. Similar situations were observed in on-chain gold prices during the US-Iran conflict, so investors should exercise caution to handle potential sharp fluctuations.

U.S. Treasury Secretary Scott Bessent and El Salvador's President Bukele met to discuss economic reforms and cryptocurrency strategy at the "Shield of the Americas" summit. Bessent praised Bukele's pro-market initiatives, despite previous tensions over Bitcoin's legal status and a recent amendment to reduce crypto's role due to financial challenges.