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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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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

4 minutes ago

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.

4 minutes ago

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%

4 minutes ago

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.

4 minutes ago

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

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.

4 minutes ago

Spot Silver Breaks Below $25 Per Ounce, Intraday Drop of 3.78%

Per Bitget market data as of March 11, spot silver extended its decline, falling below $25 per ounce with a daily drop of 3.78%.

4 minutes ago

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