PANews

# You Don't Need to Believe to See It
Author: Luo Yihang, Silicon-based Stance
> The token you used to see because you believed in it, you can now see without belief. It is the next one after Watt, Ampere, and Bit.
In January 2009, an anonymous person invented something called a "token." You invested computational power, obtained tokens, and tokens circulated, were priced, and traded within a consensus network. The entire crypto economy was born from this. More than a decade has passed, and people are still debating whether this token actually has value.
In March 2025, a man in a leather jacket redefined another kind of thing called a token. You invest computational power, output tokens, and tokens flow within an AI inference (inference &

Author: Deep Web Tencent News
Just as OpenClaw became a top trending topic in the AI field through the enthusiasm of "shrimp farming" and the controversy of "shrimp killing," leading smartphone manufacturers who have been deeply cultivating on-device AI could no longer hold back and rushed to deploy and "domesticate" their own Claw.
On March 6th, Xiaomi's mobile-end Agent—Xiaomi miclaw—officially opened limited closed beta testing through invitation codes, becoming the first domestic smartphone manufacturer to test the "lobster." Following this, Huawei, Honor, OPPO and others announced their Claw internal testing information.
Among them, after Huawei officially announced the new OpenClaw mode for Xiaoyi, it subsequently launched Xiaoyi Claw.

Binance founder CZ stated at the DC Blockchain conference that US government support for the crypto industry has exceeded expectations, but pointed out that the US market lacks competition, exchange fees are high, and consumers cannot get the best prices. He believes that with America's capital and talent, it is only a matter of time before these issues are resolved and the US becomes the world's largest crypto liquidity center.

Written by: DaiDai, Matong MSX
Many people thought Huang Renxiun would completely ignite optical communications at this GTC.
After all, this sector has been hot for too long. From CPO to silicon photonics, from optical modules to high-speed interconnects, the market has basically placed all its imagination about AI infrastructure upgrades on this pathway. What's more coincidental is that OFC 2026 is also being held in the same week, with the technical conference from March 15-19 and the exhibition from March 17-19. One is Nvidia laying out its roadmap, while the other is the entire optical communications industry chain flexing its muscles—the hype level is naturally pushed to its peak.
So before Huang Renxiun took the stage, what the market was actually waiting for wasn't an ordinary speech, but a spark. What everyone wanted to hear wasn't "the future direction is fine," but a more explicit statement: in the next phase, optical is the main line.
Unfortunately, Huang Renxiun didn't deliver that message

# Author: Chen Mingkun Macro Observation
> This article mainly answers five questions:
>
> First, when war arrives, what does the market re-price first;
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> Second, why different wars correspond to different asset narratives;
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> Third, four types of war dynamics, each rewriting which layer of variables;
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> Fourth, which modern war asset samples are most worth repeatedly reviewing;
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> Fifth, how to translate war judgments into methodology and positioning.
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> If you care more about investment positioning, you can go directly to the fifth section.
>
Many people look at wars and first see the news.
But what macro investors often look at is not the news itself, but rather: the beginning of asset ordering changes.
Over the past month, fighting has erupted again in the Middle East. At my desk in Tsinghua Purple荆园, I have repeatedly reviewed the historical records of modern wars in...

February 23, 2026, what should have been a quiet Monday, IBM's stock price suffered its most severe single-day crash since October 2000. The closing decline was locked at 13.2%, with approximately $40 billion in market value evaporating within hours. The trigger was not an earnings disaster, nor a regulatory crackdown, but a product announcement: AI startup Anthropic announced that its Claude Code tool could modernize COBOL programming language running on IBM systems, and COBOL is precisely IBM's lucrative "moat" business.
Three days later, a similar plot unfolded in a completely opposite manner. On February 26, Jack

As AI Agents gain popularity, Web3 startup teams face transformation challenges. Despite the AI boom, many teams rely solely on trending concepts while neglecting user needs and implementable scenarios, making it difficult for projects to sustain. It is recommended that teams not only evaluate their technical capabilities and real-world use cases, but also pay attention to core elements such as data, identity, and payment, thereby exploring effective pathways within the AI ecosystem.

# From: Vanity Fair
**Compiled by:** Moni, Odaily Planet Daily
"I really can't hold on anymore."
In early February this year, the Signal inbox of a major cryptocurrency market maker was flooded with dozens of messages like this. The crypto market plummeted another 15%—within just a few days, $400 billion in market value vanished into thin air. Over the previous four months, dragged down by Bitcoin, the total cryptocurrency market value crashed nearly 50%, with Ethereum and Solana both declining close to 60%. This collapse erased approximately $2 trillion in value, dragging the industry into a bear market, which the crypto community refers to as a "crypto winter"—a somewhat nerdy metaphor paying homage to that unsettling line from *Game of Thrones*: "Winter is coming."
Project founders were thrown into a panic...

Author: CoinFound
For a long time, stablecoins in the market mainly played the role of on-chain USD settlement tools: they served as transaction mediums, safe-haven assets, cross-border transfer instruments, and foundational liquidity for DeFi—representing the most important "silent infrastructure" in the crypto ecosystem. However, after entering 2026, this sector has begun to experience a deeper structural differentiation: more and more capital is no longer content with simply "holding dollar-pegged assets," but is now seeking "holding an on-chain dollar asset that can continue to generate yield, be collateralized, nested, and participate in strategic combinations."
CoinFound's latest research report, "On-Chain 'Yu'E Bao' Moment: The Liquidity Migration Behind the Boom of Yield-Bearing Stablecoins," points out that yield-bearing stablecoins have shifted from a niche category to rapid growth. As of mid-March 2026, the total global market value of stablecoins is approximately $320 billion.

Author: Changan I Biteye Content Team
Weather is unlike elections—it has no stance; unlike the NBA, it has no home team. Yet it's precisely this market that has drawn domestic users flooding in. The reason is simple: everyone has personal experience, and everyone thinks they understand Shanghai's weather.
But "feeling like you understand" and "being able to make money" are two different things.
Biteye is sharing three things today:
1. Understanding settlement rules
2. Building a weather forecasting methodology
3. Using systems to find trading opportunities others can't see
I. First, let's clarify: How does this weather market actually settle?
1. The settlement temperature isn't what you think it is
Many first-time participants have a misconception: they check their phone's weather app against the highest temperature forecast, but the app shows Shanghai city center's temperature, while Polymarket settlement uses Shanghai Pudong International Airport (ZSP

Bitcoin rebounded during Middle East conflict, with MicroStrategy successfully attracting capital through its preferred stock STRC, cumulatively increasing its holdings by over 40,000 bitcoins. STRC, serving as a stable yield instrument, has become a new financing channel for MicroStrategy, driving its market performance and liquidity. While this model faces high dividend pressure and requires continuous yield improvements to maintain appeal, STRC has effectively connected traditional capital with bitcoin demand, opening up a new financing model.

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.