Kraken Acquires Token Custodian Company Magna in Preparation for Its IPO

WSJ reported on March 11 that sources say the International Energy Agency (IEA) has proposed releasing its largest-ever oil reserves to cool surging oil prices tied to US-Iran tensions. Officials noted the planned release would exceed the 182 million barrels IEA member nations released in two separate tranches during the 2022 Russia-Ukraine conflict. The proposal was discussed at an emergency meeting of energy officials from the IEA’s 32 member countries on Tuesday. Member nations are expected to decide on the plan Wednesday. If no objections are raised, it will be approved; a single objection, however, will delay implementation. As of press time, WTI crude oil has fallen below $82 per barrel, down 5.20% in intraday trading.

**March 11: Forbes’ Latest Billionaire List Puts CZ’s Net Worth at $110B (Up $47B YoY), Ranked 17th Globally—Surpassing Bill Gates** Forbes’ latest global billionaire ranking, released March 11, shows Changpeng Zhao (CZ) has seen his personal net worth climb to approximately $110 billion—an increase of $47 billion from last year. He now ranks 17th on the list, with his wealth exceeding that of Bill Gates. The report notes CZ’s wealth growth is primarily tied to his stake in cryptocurrency exchange Binance. Industry estimates peg Binance’s current valuation at around $100 billion, with CZ holding roughly 90% of the shares. The platform remains the world’s largest crypto exchange, boasting a 38% market share and annual trading volume exceeding $30 trillion. Data indicates Binance is projected to generate $16 billion to $17 billion in revenue between 2024 and 2025—about 2.5 times Coinbase’s revenue ($6.6 billion) over the same period. Additionally, the Binance ecosystem includ

**March 11 (Tuesday) —** U.S. Energy Secretary Chris Wright mistakenly posted and later deleted a social media message Tuesday claiming the U.S. Navy had escorted an oil tanker through the Strait of Hormuz. The post briefly roiled markets: international oil prices plunged nearly 20%, while U.S. WTI crude briefly fell below $77 per barrel. White House Press Secretary Karoline Leavitt subsequently clarified the U.S. Navy has not yet escorted any tankers or vessels through the strait, but the military is weighing various options—including naval escorts—to address potential shipping disruptions by Iran. On the same day, former President Donald Trump posted a series of social media messages stating the U.S. has received no reports of Iran laying mines in the strait, but urged Iran to remove any potential explosive devices. He also noted the U.S. military has destroyed 10 "inactive mine-laying ships." The ongoing Middle East conflict entered its 11th day Tuesday. Pete Hegseth stat

March 11 — Chief Judge Sarah D. Morrison of the U.S. District Court for the Southern District of Ohio ruled there is no historical evidence Congress intended federal law to preempt state sports betting regulations, rejecting a preliminary injunction request from prediction market platform Kalshi. Earlier, Kalshi sued the Ohio Casino Control Commission to block enforcement action against its event contracts under state gambling law. Last year, the commission accused Kalshi of operating illegal sports betting in Ohio. Kalshi argued its event contracts are regulated under the Commodity Exchange Act as derivative transactions (overseen by the CFTC), meaning federal rules should take precedence over state gambling laws. But the judge cited historical and legislative context: no proof Congress intended that law to preempt state sports betting rules. She noted that when the Dodd-Frank Act amended relevant laws in 2010, the U.S. still broadly restricted sports betting. Kalshi plans

On March 11, Bloomberg Intelligence analyst James Seyffart said that because most investors aren’t required to file 13F forms, publicly disclosed holdings of spot XRP ETFs only represent a “small portion” of the market right now. Data shows that as of the end of 2025, the top 30 holders of spot XRP ETFs collectively held roughly $2.11 billion in shares. Goldman Sachs led the group with around $1.54 billion in holdings. Seyffart also noted that cumulative inflows into spot XRP ETFs topped $1 billion as of the end of 2025, while the fund’s assets under management (AUM) stood at approximately $14.4 billion as of last week. Fellow Bloomberg Intelligence analyst Eric Balchunas added that these investors are likely mostly “super fans” from the XRP community, not retail investors. Several firms have launched spot XRP ETF products, including 21Shares, Bitwise Asset Management, and Franklin Templeton. 21Shares’ spot XRP ETF has become its most popular altcoin fund. Meanwhile, Ripple CE

March 11th — Per HTX market data, blockchain game token PIXEL has surged more than 75% in the past 24 hours, last trading at $0.00878 with a market capitalization of $28 million.