PANews

Written by: Ryan Weeks, Bloomberg
Compiled by: Luffy, Foresight News
Once viewed by the United States as a national security threat, embroiled in controversies over miner security and remote control, Bitmain is the absolute dominant player in the global Bitcoin mining machine industry. This mysterious Chinese company, after facing White House bans and Department of Homeland Security investigations, unexpectedly formed an important business alliance with Eric Trump, the son of the former U.S. president.
On one side is the Chinese mining machine giant questioned for endangering power grids and military base security; on the other is a Bitcoin company under the Trump family's banner. The two sides have built a super mining farm in Texas and launched major cooperation. This article reconstructs this alliance intertwined with politics and cryptocurrency, revealing how Bitmain reversed course from America's "blacklist" and became one of the most critical business partners of the Trump family. Below is the full translation:
Mining Empire: The Mysterious and Monopolistic Bitmain

# Daily Market Highlights and Trend Analysis, Produced by PANews
## Macro Market
The US-Israel strike against Iran has entered its 19th day, with Trump claiming to have "completely destroyed Iran's military forces" and stating no NATO ally assistance is needed. Iran has announced the 61st wave of attacks under "True Promise-4" operation in retaliation for the death of Larijanis, secretary of Iran's Supreme Security Council. Analysis suggests that Larijani's death will have far greater impact on Iran's regime operations than Khamenei.
On Tuesday, US stocks continued their rebound trend, with the three major indices posting marginal gains. However, the sell-off triggered by the US-Iran war is far from bottoming. Bank of America strategist Michael Hartnett warns that Middle East conflicts and private credit concerns have shattered the "bubble bull market," but current sentiment reading of 5.6 and Put/Call sell signal of 8.5 indicate the market has yet to reach historically extreme pessimism.
Ahead of the FOMC meeting early Thursday morning, Chicago...

As the US faces a demographic cliff, demand for blue-collar jobs like electricians is surging, and BlackRock is investing $100 million to compete for related talent. Skilled workers are regaining high value, and participating in AI construction requires only basic skills, reflecting that the labor gap is a key bottleneck in AI development.

Users completing reCAPTCHA verification online appear to be distinguishing between humans and robots, but in reality are providing unpaid data labeling for Google's AI systems. This process has continued for years, generating hundreds of millions of hours of free labor that laid the foundation for Google Maps and Waymo's visual recognition capabilities, with users unaware of this fact. Through a mandatory data labeling model, Google accumulated vast amounts of labeled data and reaped enormous commercial benefits.

Just yesterday, Tally, a well-known governance platform that has served over 500 DAOs including Uniswap, Arbitrum, and ENS, officially announced it would cease operations. Since Q1 2026, more than 20 projects have announced closures, pivots, or bankruptcies. Facing liquidity exhaustion, cost pressures, and shifts in narrative, the industry is experiencing a brutal reshuffle, with DeFi, blockchain gaming, and NFTs being the hardest hit!

Author: Max.S
Once, Ethereum was the narrative engine of the Web3 world. From the grand vision of the "Merge" to the "ultrasound money" myth brought by the EIP-1559 burning mechanism, every key milestone was accompanied by consensus euphoria and soaring valuations. However, as we entered 2026, Ethereum's sky changed.
No longer radical dreams, but calm engineering.
With the Ethereum Foundation's recent update of its 2026 protocol priorities, a clear signal has been released: Scale, Improve UX, Harden the

# Written by: Jeff Yan
Compiled by: Wu Shuo Blockchain
This issue is a transcript from the "When Shift Happens" podcast featuring an exclusive interview with Hyperliquid founder and CEO Jeff Yan. Jeff reviews the wealth effects and responsibility shifts brought by TGE (Token Generation Event), elaborates on Hyperliquid's core design philosophy of "no internal market, no discretionary power," and explains why the protocol maintains an automatic buyback and burn approach for protocol fees rather than manual timing-based operations.
He emphasizes that Hyperliquid is not a "crypto company," but rather a "financial protocol" that upgrades financial infrastructure through cryptographic technology, with the goal of "housing all of

Author: Yuanchuan Investment Review
Anthropic's recent unemployment report sent chills down the spines of financial professionals.
According to the report, the replacement rate for financial positions is as high as 94%, ranking 2nd among all professions, but the actual replacement rate currently stands at only 28%, leaving massive room for future growth. Fortunately, 30% of occupations are barely affected, so financial workers can consider alternative career options like dishwashing or plumbing.
After spending a long time in the industry, one inevitably feels anxious—finance professionals live in a world of "constant comparison," where sales evaluations and performance rankings weigh heavily every day, and any pause in learning creates a sense of unease.
It's like after the Spring Festival holiday ends, when a financial professional returns to their desk asking questions to a Chatbot, their colleague at the next desk has already raised 8 lobsters and is passionately debating crude oil price fluctuations.
The financial industry has never rejected efficiency, from manual trading gestures to program trading, from offline bank sales to internet-based distribution.

Author: Benji Siem, IOSG
I. Introduction
This research begins with a simple observation: the power system is being asked to complete a task it was never designed to perform.
With the accelerating penetration of renewable energy, the comprehensive advancement of electrification, and the surge in AI-driven data center demand, the traditional model of "building more generation and transmission facilities to meet peak loads" is collapsing. Infrastructure construction cycles are too long, grid connection queues are severely backlogged, and capital intensity remains elevated.
Against this backdrop, flexibility—the ability to dynamically adjust supply and demand in real-time—has evolved from an auxiliary function to a core pillar of grid reliability. The supply of flexibility, which previously relied mainly on large industrial loads and peaking power plants, is transforming into a complex multi-tier market where distributed energy resources (DER), software platforms, and aggregators coordinate hundreds

BlackRock's launch of the Ethereum staking ETF "iShares Staked Ethereum Trust" marks Ethereum staking as a mainstream investment option. The ETF stakes the majority of its assets and regularly distributes yields to investors, validating the legitimacy of staking rewards and driving institutional capital flows into the ETH ecosystem. Additionally, this product enables non-crypto users to easily access network yields, transforming Ethereum's asset pricing logic and positioning it as a "yield machine" with continuous cash flows.

# Author: CoinFound
Stablecoins are transitioning from a trading tool to global financial infrastructure.
For a long time, market perception of stablecoins was largely confined to a single role: as a "cryptocurrency trading medium." They were used for exchange pricing, served as on-chain risk hedging tools, or functioned as foundational liquidity assets within the DeFi ecosystem. However, entering 2026, this narrative is being rapidly rewritten. The functional boundaries of stablecoins have expanded from "trading auxiliary assets" to encompass payments, settlement, collateral, yield generation, cross-border clearing, and even RWA settlement layers, gradually evolving into critical infrastructure within the global digital financial system.
CoinFound's latest research, "Stablecoin Ecosystem Map — From Trading Tool to Global Financial Infrastructure," indicates that the stablecoin market is entering a new phase of "high mainstream adoption and high institutionalization." Its significance is no longer limited to price

Author: Kaff
Compiled by: Yuliya, PANews
TL;DR
Bittensor is composed of 128 independent subnets, each functioning like a startup with its own token (Alpha), revenue model, and team.
There are two ways to earn money: TAO emissions (protocol subsidies based on staking inflows) and Alpha token P&L (capital gains derived from subnet performance).
Since Taoflow in November 2025, subnets with negative net staking inflows will receive zero emissions, and will either go live or be phased out.
Approximately 3,600 TAO (~$960,000) is distributed daily across all subnets, with the top ten controlling about 56% of the total share.

In 2025, China's DeepSeek-R1 model launched and quickly attracted global attention, driving a decline in AI stocks. In 2026, Bittensor successfully released Covenant-72B, becoming the largest decentralized large language model. The model broke through the bottlenecks of decentralized training, demonstrated commercial competitiveness, and garnered widespread market attention, marking a new future for decentralized AI.

@RayDalio
Compiled by: Big Pliers | PANews Lobster
Comparing what is happening now with similar situations in history, and cross-referencing with wise, well-informed leaders and experts, has always helped me make better decisions. I have found that most wars are filled with great disagreements about outcomes and unexpected variables. However, in this Iran war, one thing is evident, and nearly everyone reaches consensus: everything ultimately depends on who controls the Strait of Hormuz. Whether it is government leaders of various countries, geopolitical experts, or people around the world, they all tell me: if Iran still retains control over passage through the Strait of Hormuz, or even merely retains it as a negotiating chip, then:
1. The United States will be determined to have lost this war, and Iran will be determined to be the winner.
Because Iran, using the Strait of Hormuz as a weapon, will have clearly demonstrated that the United States has no capability to

Author: Frank, PANews
On March 8, Pump.fun's cumulative revenue exceeded $1 billion, making it the first platform on Solana to reach this milestone and firmly establishing itself as the most prominent money-printing machine in the MEME sector. However, as the hype subsides, the question is no longer "who earns the most," but rather how much business these MEME-originating platforms still have left.
Looking at leading ecosystem projects such as Pump.fun, GMGN, Four.meme, Axiom, as well as Photon, BullX, and BONK, the answer is becoming increasingly clear: MEME has not disappeared; instead, business is becoming more concentrated at the top, with the differentiation between chains and platforms becoming more pronounced.
Pump.fun: The "absolute oligopolist" spanning bull and bear markets, with hundreds of millions in profit yet struggling to consolidate gains.

Huang's GTC speech was sensational again. He said that in the future, engineers will receive not only a base salary, but companies will also provide an additional Token budget equal to half their salary, allowing each person's efficiency to be multiplied by 10 times. The new recruitment question in Silicon Valley will become — "How many Token allocations come with this job"
The global enterprise is experiencing an AI agent renaissance transitioning from 2 trillion to tens of trillions in value. Are you ready?

⬅️ Two months ago: CES Conference
Jensen Huang brought the "WALL-E" robot
Can't talk, but already amazing
➡️ Two months later: GTC Conference
Jensen Huang brought the robot version of "Olaf"
Can walk · Can think · Can talk · Can even talk back to Huang himself 😂
NVIDIA × Disney × DeepMind, Physical AI + Omniverse training, bringing classic IP characters into the real world.
This is the speed of AI development—measured not in years, but in months!