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After CPI Data Release, March Rate Cut Probability Now Below 1%

2 hours ago

Tonight, March 11, the U.S. Department of Labor announced that the February non-seasonally adjusted (NSA) year-over-year CPI was 2.4%—in line with expectations (2.40%) and unchanged from the prior reading (2.40%). Per CME’s FedWatch Tool, the current probability of a 25-basis-point rate cut at the Fed’s March meeting is just 0.7%, while the odds of no rate change stand at 99.3%. Odds of the Fed holding rates steady through April are 89.1%, with a 10.8% chance of a cumulative 25-basis-point cut and a 0.1% chance of a cumulative 50-basis-point cut. The Fed’s next two FOMC meetings are scheduled for March 18 and April 29.
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Polymarket's 5-Minute Price Change Prediction Market Surpasses $60 Million in Daily Trading Volume

As of March 11, Polymarket’s 5-Minute Cryptocurrency Price Change Prediction Market—launched less than a month prior—has become its most popular offering, with daily trading volume topping $60 million. The market features 288 prediction windows per day, accounting for 67% of Polymarket’s total cryptocurrency price prediction market volume.

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Crypto-Friendly Bank Revolut Granted Banking License in the UK

March 11 — Crypto-friendly lender Revolut has received approval from the UK’s Prudential Regulation Authority (PRA) to officially launch Revolut Bank UK. The new bank will offer deposit accounts protected by the UK’s Financial Services Compensation Scheme (FSCS) to roughly 13 million UK users, with up to £85,000 in coverage per individual. It will roll out checking accounts gradually, and existing users can keep using their current services during the migration process—expected to take several months.

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Backpack is planning to conduct its TGE around March 23 and will provide further updates tomorrow.

On March 11th, Backpack CEO Armani Ferrante announced during an official Twitch livestream this evening that the token’s TGE date is tentatively set for around March 23rd. A more precise official date will be revealed tomorrow, March 12th—stay tuned to official channels for the formal update. Per data from PolyBeats monitoring, on Polymarket (the prediction platform), the probability that Backpack’s TGE will occur before December’s end has hit 100%. Meanwhile, the likelihood of the TGE happening before March wraps up has spiked sharply, now sitting at 93%.

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Circle, Binance Join Mastercard's Cryptocurrency Partner Program

March 11 — Mastercard is recruiting more than 85 digital asset firms, payment providers and financial institutions to join its new global partnership program, including Circle, Binance and Gemini. The initiative aims to keep crypto payments connected to the Mastercard network while positioning stablecoins as an alternative to traditional payment rails.

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Iran Warns U.S. of Sliding Into a Protracted War

**March 11 (Local Time) — Iranian Islamic Revolutionary Guard Corps (IRGC) Deputy Commander Ali Fadavi stated that no U.S. warships are currently within 700 kilometers of Iran’s surrounding waters. He claimed the U.S. Navy has “fled” the region, as Washington is well aware Iran has developed a special operation plan targeting and sinking U.S. aircraft carriers.** **Fadavi further warned the U.S. could be drawn into a long-term war of attrition — a conflict he said would lead to the total collapse of the U.S. and even the global economy. He also alleged Iranian armed forces shot down a U.S. F-15 fighter jet in southern Tehran.**

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DoubleZero Launches Real-Time Market Data Delivery Platform DoubleZero Edge

On March 11, DoubleZero announced the launch of DoubleZero Edge, its new real-time market data delivery platform. Built on multicast technology, the platform delivers high-speed, real-time data to traders and market participants—offering a level playing field for validators and trading systems, similar to the infrastructure powering traditional financial trading platforms. Starting with Epoch 939, all validators connected to DoubleZero will qualify for a 5% exemption on block reward fees. Participating validators can also earn additional income by submitting shreds, with revenue generated from subscription fees paid by traders.

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