Matt Hougan, Chief Investment Officer of Bitwise Asset Management, points out that Bitcoin could reach $1 million if it captures a larger share of the global store of value market. This target reflects Bitcoin's maturation and the impact of long-term institutional adoption, but achieving it could take a decade or longer.

U.S. Securities and Exchange Commission Commissioner Hester M. Peirce announced the launch of an "Innovation Safe Harbor" program for tokenized securities, which will allow limited trading and experimentation within a restricted scope. The program will take a more cautious approach, explore different tokenization models, and consider investor protection mechanisms. The SEC is also evaluating related disclosure and regulatory issues.

The Strait of Hormuz has been locked for 16 days, with oil prices rising approximately 45%, and Brent crude breaking through $103 per barrel. Strategic petroleum reserves can only fill a 12%-15% gap. It is recommended to take a bullish view on crude oil, reduce stock exposure, and maintain cash positions to prepare for liquidity tightening.

The China Internet Finance Association has issued a risk warning cautioning that the OpenClaw application is vulnerable to attacks due to high permissions and weak security configurations, which could lead to data theft and transaction manipulation. The association recommends that financial consumers use caution when using the application and take appropriate security measures, such as not granting operational permissions and monitoring for vulnerability fixes.

Gate News, on March 13, Backpack announced that it will hold a TGE (Token Generation Event) on March 23. According to the previously announced tokenomics, the TGE will release 25% of the total token supply, of which 24% will be allocated to point holders.

On March 12, Hyperinsight detected an address continuously increasing BTC short positions, with cumulative holdings reaching $3.12 million despite currently being down 16%. The address has set take-profit orders, planning to close positions in batches within the $69,200 to $69,450 range.

MetaDAO announces that the RNGR liquidation snapshot will be conducted on March 13th. Users are advised to withdraw their tokens to their personal wallets. The liquidation portal will go live on March 17th, with detailed information to be announced beforehand. The proposal to liquidate Ranger Finance was previously approved through voting.

Prediction market platform Kalshi has filed a lawsuit in Iowa, alleging that regulators may restrict the operation of its sports event contract products and asserting federal law takes precedence. The company did not receive a commitment not to take enforcement action after meeting with government officials and faces legal risks. Different states have varying regulatory attitudes toward such contracts, and court rulings are inconsistent, with ongoing disputes over their legal status.

Gate News Announcement, March 12 — Backpack has confirmed that the TGE will take place around March 23. Real-time betting data from a prediction platform shows that the probability of Backpack's TGE first-day FDV exceeding $300 million is about 68%, and the probability of exceeding $500 million is 33%. Backpack CEO Armani Ferrante previously stated during an official Twitch live stream that the token TGE date is approximately March 23.

China strengthens its regulatory policies on cryptocurrencies, reaffirming a comprehensive ban on RMB-pegged stablecoins and classifying most RWA tokenization activities as illegal. The market response is muted, indicating that investors have adapted to this change. The policy's first mention of stablecoins may signal future regulatory reforms, but implementation will still take time. Global digital asset trading could develop into a USD-denominated system, with liquidity being a key factor. Future regulatory frameworks will influence the global market landscape.