Circle minted 250 million USDC on the Solana network 6 hours ago

On Friday, March 20, the International Energy Agency (IEA) issued a stark warning: The ongoing Iran-related conflict could trigger the largest supply disruption in global oil market history, with normal oil and gas flows in the Gulf region potentially taking up to six months to recover. Citing the Financial Times, IEA Executive Director Fatih Birol noted that both policymakers and markets have underestimated the crisis’s severity—something that could push energy prices higher and strain global supply chains. The IEA stressed that supply-side measures alone won’t be enough to stabilize the market. In a detailed set of recommendations, the agency laid out immediate demand-side actions to ease pressure on consumers and secure energy supplies. These include: cutting oil and gas demand right away, reducing energy use in industry and households, and calling for collective action. (Golden Finance)

On March 20, Nasdaq-listed Bitcoin miner BitFuFu released its full-year 2025 financial results. 2025 total revenue reached $475.8 million, up 2.7% from $463.3 million in 2024. However, the company posted a net loss of $57.4 million for the year, versus a net profit of $54 million in 2024. The loss stemmed primarily from fair value changes in digital assets and accounts receivable, plus equipment impairment tied to market conditions. Operationally, BitFuFu’s 2025 cloud mining revenue totaled $350.6 million, a 29.4% year-over-year (YoY) increase. Its self-mining revenue fell to $63.1 million. As of Dec. 31, 2025, total mining capacity rose 11.1% YoY to 26.1 EH/s, while Bitcoin holdings climbed to 1,778 coins. Average self-mining production costs hit $77,573 per BTC in 2025, up from $47,496 per BTC in 2024. By year-end 2025, the company’s total cash, cash equivalents and digital assets stood at roughly $177 million.

**Spark Protocol Updates on Revenue Metrics** On March 20, Spark announced via Twitter that its protocol currently generates roughly $10 million in monthly protocol revenue. For Q1 2026, total protocol revenue reached $33 million—representing a ~10% year-over-year increase from Q1 2025. Key revenue drivers include the Spark Liquidity Layer (SLL), SparkLend, and Market Curation. The full Q1 2026 financial report is set to be released imminently.

March 20 — Federal Reserve Governor Christopher Waller said Wednesday that if oil prices remain elevated for several months, they will eventually feed into core inflation. Exercising caution now does not mean remaining inactive for the rest of the year, he added. Waller noted he does not see a need to consider rate hikes at this point. Should labor markets weaken, he will advocate for rate cuts later this year, though he wants to assess conditions before making a decision. (FXStreet)

On March 20, UBS remains bullish on U.S. equities, forecasting the S&P 500 Index will hit 7,300 by mid-2026 and 7,700 by year-end, per Bloomberg Terminal data. The firm cites three key drivers for the upward trend: strong profit growth, expected Federal Reserve rate cuts, and AI-driven economic expansion. UBS projects 11% profit growth for 2026. Geopolitical risks are viewed as temporary, and the bank expects the energy market to stabilize. While ongoing volatility could pressure stocks, historical trends show markets typically rebound after such events. Despite recent market turbulence, UBS maintains an optimistic overall outlook for U.S. stocks.

On March 20, TheStreet reported that Ripple and its co-founder/executive chairman Chris Larsen each donated $5 million to the political action committee (PAC) Golden State Promise to fight California’s proposed “2026 Billionaire Tax Act.” The measure would force billionaires living in California as of January 1, 2026, to pay a one-time 5% wealth tax—with 90% of the proceeds earmarked for public healthcare. Kraken co-founder Jesse Powell slammed the proposal as a “5% theft on unrealized gains.” In response, several billionaires (including Google co-founders Larry Page, Sergey Brin, and venture capitalist Peter Thiel) have chosen to leave the state.