Geopolitics

JPMorgan's report points out that during the ongoing war in Iran, Bitcoin has shown demand similar to that of safe-haven assets, with stable capital flows, in contrast to the trend of gold, which is historically experiencing consecutive declines. This demonstrates Bitcoin's resilience in geopolitical crises, prompting a market reassessment. JPMorgan's analysts believe that Bitcoin has exhibited its potential as digital gold, but uncertainty remains for the future.

JPMorgan pointed out that in the Middle East conflict, Bitcoin has shown strong resilience against declines, with significant inflows and active trading, while gold and silver are facing capital outflows. Under pressure from high interest rates and a strong dollar, gold prices have fallen by about 15%. With its borderless characteristics, Bitcoin has become a safe-haven choice, and institutional investors are also adjusting their positions, indicating a decrease in gold liquidity while Bitcoin liquidity is increasing.

Former Morgan Stanley deputy vice president Valerie Lockhart faced a prolonged yearlong job search after being laid off. Despite submitting more than 550 resumes, she received no offers. Family financial pressure was enormous, and she even launched a GoFundMe fundraising campaign. Although she eventually found a temporary contract job, she continued to search for work, struggling with employers’ high standards for candidates.

Senator Warren of the Democratic Party sent a letter to the Secretary of Commerce, asking for clarification on national security concerns regarding the Chinese Bitcoin mining manufacturer Bitmain, particularly concerning the Trump family's stake in American Bitcoin's purchase of mining machines. U.S. authorities have launched an investigation, worried that the related equipment could be used for espionage activities or pose a threat to the power grid's security. Bitmain and American Bitcoin deny any security issues, stating that they comply with the law. This issue reveals the tension between politics and national security.

Gate News reports that on March 28, South Korean President Lee Jae-myung nominated Shin Hyun Song, head of the Monetary and Economic Department of the Bank for International Settlements, as a candidate for the new governor of the Bank of Korea. Shin Hyun Song is known as a "pragmatic hawk" and has a negative stance towards the Lee government’s push for a won-pegged stablecoin. Shin believes that in countries with severe exchange rate fluctuations and vulnerability to capital outflows, stablecoins can easily become tools for capital flight, and stablecoins pegged to the local currency may accelerate this trend.

The US-Israeli coalition conducted airstrikes on Iran's nuclear facilities and steel mills, prompting Iran to retaliate against multiple countries, causing damage in places like Kuwait, Doha, and Tel Aviv. Financial markets were shaken, with Brent crude oil prices surpassing $106. Trump announced that the US has multiple strike targets and is considering increasing troop levels in the Middle East to respond to the situation.

Intercontinental Exchange adds $600 million investment to Polymarket, bringing the total to $1.64 billion. Trump emphasizes the importance of Bitcoin, while Yilihua states the cryptocurrency market has performed poorly for four years. The U.S. plans to release a draft of stablecoin yield provisions, and Ripple's CEO says the CLARITY Act may be delayed until May. California bans public officials from trading on insider information. The crypto industry enters the "Shirt Era," with blockchain and AI integration driving development. Lido proposes to buy back LDO tokens, and Ripple and Stellar founders jointly invest $1 billion in AGI research.

Ripple Labs CEO Brad Garlinghouse stated that the company is driving business growth through mergers and acquisitions, expecting to set new records in the first quarter of 2026. Ripple invested approximately $4 billion in the crypto ecosystem in 2025 and acquired Hidden Road and GTreasury. He is generally optimistic about the outlook for U.S. digital asset policy but expects the CLARITY Act to be delayed. Additionally, he warned that the weaponization of policy could impact innovation. The cryptocurrency industry and traditional financial institutions still have ongoing negotiations regarding legislative details.

Trump stated at the Future Investment Initiative Summit that the United States will become a global superpower in cryptocurrency, emphasizing the importance of Bitcoin and the acceleration of payment trends. He pointed out that the U.S. needs to maintain a leading position in the fields of crypto assets and financial innovation to ensure its dominance in the global financial system.

Plume legal advisor B. Salman Banaei testified before Congress, urging the SEC to expedite the development of tokenization rules and criticizing the reliance on an "innovation exemption" mechanism. He emphasized the need for public consultation to promote permanent solutions that would attract large institutions to participate in the tokenization of real-world assets, reminding SEC leadership of the urgency to act.

Citigroup lowers its 12-month target prices for Bitcoin and Ethereum, indicating that its medium-term outlook for the crypto market has turned cautious, mainly because progress on U.S. crypto-asset legislation has been slow. Its Bitcoin target is reduced from $143,000 to $112,000, and its Ethereum target is lowered to $3,175. Although there is still room for upside in the future, the lack of new policy catalysts means prices could trade within a range in the short term. Citigroup is even more cautious in its assessment of Ethereum, saying it is more heavily influenced by on-chain activity.

Gate News report, on March 28, in Miami, Florida, President Trump stated at the Future Investment Initiative (FII) summit that Bitcoin is very powerful, and the United States must stay ahead in this trend. He emphasized that many people currently want to use virtual assets (especially Bitcoin) for payments, and the U.S. must be at the forefront of this trend.

Bitcoin's price has declined below $66,000 amid geopolitical tensions and poor U.S. market performance, leading to significant losses in the crypto market. Investor sentiment is dampened as recession fears grow.

Gate News reports that on March 27, U.S. Secretary of State Rubio stated that Iran may decide to establish a toll collection system in the Strait of Hormuz. The Strait of Hormuz is an important waterway connecting the Persian Gulf and the Gulf of Oman, through which about one-third of the world's maritime oil is transported.

Gate News reported on March 27 that, according to three informed sources, U.S. Secretary of State Rubio stated to G7 colleagues that the Iran war should end within weeks.

Gate News reports that on March 27, according to CCTV News, it was learned from Iranian sources on the 27th local time that after the United States and Israel launched attacks on Iranian steel mills, Iran has listed six steel mills in Israel and relevant industrial facilities in five regional countries as new targets for retaliatory strikes. According to informed sources, Iran's response actions should not be limited to the regional steel industry and may take "broader and stronger" measures.

Gate News report, on March 27, according to Iran's Tasnim News Agency, Iran issued a warning that it would attack steel plants in the Gulf region and Israel.

Gate News reports that on March 27, the Iranian Atomic Energy Organization announced that the "yellowcake" production facility in Ardakan, Yazd Province, Iran was attacked a few minutes ago by the U.S. and Israel. Preliminary investigations indicate that this incident did not result in any radioactive material leaking outside the complex. It is reported that "yellowcake" is a uranium oxide, typically extracted from crushed natural uranium ore, and is an essential intermediate product in the nuclear fuel production process, but it cannot be used directly in nuclear reactors; it is generally used for refining enriched uranium.

Gate News reports that on March 27, Iranian officials confirmed that the heavy water research reactor located in Khondab was attacked in an airstrike. According to Iranian media Fars News, Iranian officials stated that the attack did not result in any casualties, and residents near the reactor did not face any security threats.