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Hedera's Response to CZ Making the Forbes Top 20: Thankful for the Recognition of Binance's Value, But Valuation Is Just a Valuation

2 hours ago

**March 11 – Binance CEO Changpeng Zhao (CZ) has responded to Forbes’ report that his net worth has climbed to $110 billion, surpassing Bill Gates.** On the eve of industry transformation, CZ noted the traditional finance sector views the crypto space as a panacea, while the crypto industry sees traditional finance the same way. Recent news of industry fundraising, IPO preparations, and the market performance of already-listed crypto firms may have prompted Forbes to revalue Binance, he added. “We should still thank Forbes for the recognition, but valuation is just valuation,” he said. Earlier today, CZ took to social media to address his placement on Forbes’ Top 20 Billionaires list. He pointed out Bitcoin has dropped sharply from its peak, arguing Forbes’ estimate is inaccurate. “Don’t they see how much the big pie has fallen? Rich in what?” he questioned. The latest Forbes Billionaires List shows CZ’s net worth has jumped $47 billion from last year to roughly $110 billion, landing him 17th globally and ahead of Bill Gates.
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Trump: War with Iran will end soon

March 11: Trump: Iran has "very few if any" targets left; the war with Iran will end soon. "Whenever I want it to end, it will end."

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Osmosis Announces Major Governance Proposal to Convert OSMO to ATOM

**March 11 – Osmosis has submitted a major governance proposal for the Cosmos ecosystem, outlining plans to integrate Osmosis directly with the Cosmos Hub and natively migrate its DEX to the Hub.** The proposal aims to consolidate liquidity, governance, and security onto a single chain. All circulating OSMO tokens (excluding undistributed holdings in the Osmosis community pool) will be eligible to convert to ATOM during a six-month window. The proposed conversion rate is 0.0355 ATOM per 1.998 OSMO. Cosmos Hub’s community pool currently holds ~10.11 million ATOM, with an additional ~1.75 million ATOM available (equivalent to ~0.35% of total ATOM supply, or less than two weeks of staking emissions). Key notes: - No ongoing emissions or structural inflation changes will result from the proposal. - Unclaimed ATOM after the six-month window closes will return to the Cosmos Hub community pool.

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Germany and Japan take the lead in confirming the release of oil reserves, with oil prices unlikely to reach a new high before the end of March.

**March 11 —** Amid escalating Middle East conflict, the Strait of Hormuz has de facto closed, posing a severe threat to global energy security. The International Energy Agency (IEA) is planning its largest-ever strategic petroleum reserve (SPR) release. Insiders report the IEA proposes releasing 300 million to 400 million barrels of oil—far exceeding the 182 million barrels deployed in two separate interventions during the 2022 Russia-Ukraine conflict. Germany and Japan have already taken the lead: - Japan will release ~80 million barrels of crude from commercial and government reserves, stressing it would face the worst impact if the Strait remains closed and needs immediate action. - Germany’s economy minister confirmed the country will release 2.4 million tons of its national SPR. Other IEA members—including the UK, Austria, and South Korea—have also signaled willingness to coordinate their response. **Market Updates:** - Bitget data shows WTI crude and Brent o

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Bitcoin continues to surge, breaking through $71,000 with a 24-hour gain of 1.24%.

Bitcoin broke above $71,000 on March 11, per HTX market data, reversing from a 24-hour decline to a 1.24% gain.

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US Stock Market Opens with Cryptocurrency-related Stocks Surging Across the Board, Strategy Up by 2.45%

On March 11, per Bitget market data, U.S. stocks opened with the Dow Jones Industrial Average down 0.17%, the S&P 500 up 0.13%, and the Nasdaq Composite up 0.33%. Oracle (ORCL.N) jumped over 11%—driven by better-than-expected results, a raised 2027 revenue forecast, and its AI data center strategy. Crypto-related stocks traded higher across the board, with key moves including: - MicroStrategy (MSTR): +2.45% - Coinbase (COIN): +1.89% - Circle (CRCL): +3.8% - MARA Holdings (MARA): +1.1% - Riot Blockchain (RIOT): +1.57% - BitMine Immersion (BMNR): +3.14% - SharpLink Gaming (SBET): +3.11%

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An address deposited 28,970 ETH to Binance, worth approximately $59.05 million

March 11th: LookOnChain monitoring indicates a Gnosis Safe Proxy multisig wallet (address 0x23A5) has just deposited 28,970 ETH to Binance, valued at roughly $59.05 million.

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