SHELL Buyback Address has once again withdrawn 1 million tokens from Binance, and the buyback progress has reached 81.2%.

March 11 — Onchain Lens monitoring shows multiple crypto whales are ramping up crude oil long positions, even as oil prices keep falling and drop below $85 per barrel. Key updates: - Whale address 0x547 has opened a 20x leveraged crude oil long position, while holding a 10x leveraged long position in HYPE. - A newly created wallet (0x7f5) deposited $5 million in USDC and established a 1x leveraged crude oil long position. - Whale address 0x0e0 opened a 7x leveraged crude oil long position, alongside 5x leveraged short positions in Bitcoin and Ethereum.

On March 11, brokerage firm Bernstein said stablecoin issuer Circle (CRCL) has room for stock price growth, earning it an “Outperform” rating and a $190 price target—representing roughly 60% upside from its current ~$120 level. The stock had already jumped over 100% in the weeks after better-than-expected earnings. Analyst Gautam Chhugani noted stablecoin growth is slowly decoupling from the crypto market cycle. While Bitcoin and the broader crypto market remain below all-time highs, USD Coin’s supply has rebounded to nearly its ~$78 billion all-time high, and total stablecoin market cap sits at ~$270 billion. The report also noted stablecoin trading activity is surging: adjusted trading volume is up over 90% year-over-year, and faster transaction speeds signal their use cases are shifting from crypto trading to payments. On the payments front, stablecoins are integrating into traditional card networks. Visa already supports over 130 stablecoin-linked bank cards across 50 coun

March 11th — EmberCN monitoring indicates that 9 hours ago, a whale/institutional address withdrew 44,888 ETH (valued at $92.97 million) from Kraken at a rate of $2,071 per ETH. Subsequently, the 44,888 ETH was split and transferred to two wallets for storage.

**March 11** Kevin Warsh, President Trump’s nominee for Federal Reserve Chair, has yet to clear a key hurdle in his Senate confirmation process. Republican Senator Thom Tillis says he will continue blocking the Senate Banking Committee from advancing any Fed personnel nominations until the Justice Department wraps up its investigation into current Fed Chair Jerome Powell. Tillis called his meeting with Warsh “pleasant” and noted his professional qualifications. He stressed, however, that the move is not personal toward Warsh but aimed at upholding Fed independence. “If markets believe the Fed chair is merely acting at the president’s behest,” he said, “it could harm financial markets.” With Republicans holding narrow majorities in the full Senate and the Banking Committee, Tillis’s opposition could stall Warsh’s nomination from reaching a floor vote. Warsh is currently actively meeting with lawmakers to rally support, but uncertainty lingers over whether he can secure confirmat

March 11th — Digital asset infrastructure firm BitGo announced it will provide custody and trading services to publicly listed firm StableX Technologies, supporting the latter’s plan to build a stablecoin-related digital asset reserve of up to $1 billion. Per the announcement, BitGo Bank & Trust will act as custodian for StableX’s digital assets, while BitGo’s over-the-counter (OTC) platform will assist in executing related token purchase plans. StableX is a Nasdaq-listed company focused on stablecoin infrastructure. Following the news, its stock rose 9% intraday before closing up approximately 1.6%. The firm had previously begun building its digital asset reserve and acquired tokens tied to the stablecoin ecosystem, including Chainlink. BitGo Chief Revenue Officer Chen Fang noted this collaboration underscores that more publicly traded companies are building digital asset reserve strategies — no longer limited to Bitcoin, but beginning to lay out stakes in stablecoin ecosyste

**U.S. Labor Department to Release February Non-Seasonally Adjusted CPI Data Tonight (20:30 ET, March 11)** - **Market Expectation**: 2.4% | **Previous Value**: 2.4% The Consumer Price Index (CPI) tracks price changes for goods/services U.S. households typically buy—its a key inflation gauge. **Data Impact**: A reading above the forecast is bullish for the U.S. dollar. Prior context: February non-farm payrolls (NFP) were weaker than expected, clashing with widespread market hopes for strength. Notably, rate-cut expectations haven’t shifted materially. Rate-market pricing signals a high chance the next Fed rate cut lands in the second half of 2024.