In an interview with Fox Business, Coinbase Chief Legal Officer Paul Grewal stated that the debate surrounding stablecoin yields in the upcoming Clarity Act is "very close" to reaching an agreement. Grewal said the crypto market structure bill is progressing, although the debate surrounding stablecoin yields continues. He noted that parties are gradually recognizing that while reward mechanisms are important, other key elements of the bill are equally crucial to realizing President Trump's vision of making the US the "global crypto capital." The US banking industry has been lobbying for the Clarity Act to include provisions prohibiting crypto platforms from offering yields on idle stablecoin balances, arguing that this could lead to a significant outflow of bank deposits. Grewal stated that there is currently no evidence of an actual outflow of deposits and pointed out that the stablecoin yield issue should not be confused with other challenges facing the banking industry. Grewal expressed optimism about the bill's prospects, saying he expects the Senate Banking Committee to begin hearings in the coming weeks and ultimately hold a full vote. Coinbase and its CEO Brian Armstrong have repeatedly publicly opposed bills that would ban rewards for idle stablecoin balances, arguing that such restrictions would stifle innovation in the United States and harm consumers. Meanwhile, Coinbase's stock price (COIN) has fallen 50% over the past six months amid a continued downturn in the crypto market, closing down 0.9% at $172.99 on Wednesday.

The Tokyo stock market experienced a downturn after initially showing gains. According to RTHK, the Nikkei Index rose nearly 520 points earlier in the morning, reaching 54,258 points. However, following a televised speech by U.S. President Donald Trump, the market shifted direction. By midday, the index had fallen by 1,007 points, closing at 52,731 points, marking a decline of 1.88%.

South Korea's National Policy Committee has postponed discussions on the second phase of its digital asset basic act until after the local elections on June 3. According to NS3.AI, the committee removed the bill from its bill review subcommittee agenda on March 31. This delay leaves unresolved issues regarding stablecoin issuance rules and potential restrictions on major exchange shareholders' equity holdings.

Barrenjoey analysts have indicated that Australian mining companies may collectively report production shortfalls this fiscal quarter due to adverse weather conditions. According to Jin10, the Australian bank anticipates that companies such as BHP, Rio Tinto, Fortescue, South32, and Mineral Resources will perform below expectations due to disruptions caused by end-of-quarter cyclones and other weather-related issues. Additionally, Coronado, Evolution, Sandfire, and IGO are also expected to record production gaps. However, Barrenjoey notes that Lynas, a rare earth miner, may exceed revenue expectations thanks to stronger-than-expected prices. Furthermore, Vault Minerals is projected to outperform in cash flow as it settles most of its hedge positions by the end of 2025.

Cardano founder Charles Hoskinson warned that the U.S. CLARITY Act could take years to implement and may favour established cryptocurrencies while making it harder for new projects to grow.

According to SoSoValue data, the crypto market generally declined. The RWA sector fell 1.71% in the last 24 hours, with Ondo Finance (ONDO) down 3.42% and Keeta (KTA) down 7.24%. The Layer 1 sector fell 1.66%, with Solana (SOL) down 4.30% and Canton Network (CC) down 3.96%. Additionally, Bitcoin (BTC) fell 0.75%, dropping below $68,000. However, Ethereum (ETH) rose 0.15%, remaining above $2,000. In other sectors, the GameFi sector remained relatively strong, rising 0.71% in the last 24 hours, with Gomining Token (GMT) up 4.61%; the Meme sector fell 0.51%, but MemeCore (M) surged 5.79% intraday; the Layer 2 sector fell 0.63%, with ImmutableX (IMX) down 4.25%; the DeFi sector fell 0.70%, with Ethena (ENA) down 4.78%; the PayFi sector fell 0.72%, with Telcoin (TEL) bucking the trend and rising 7.50%; the CeFi sector fell 1.65%, with Binance Coin (BNB) down 2.58%. Crypto sector indices reflecting historical sector performance show that the ssiAI and ssiSocialFi indices rose 0.82% and 0.08% respectively, while the ssiCeFi index fell 1.77%.

Solana's liquidity protocol, Meteora, has announced that all funds on its platform are secure. According to Foresight News, Meteora clarified that its platform's functions and vaults have not interacted with the Drift protocol, ensuring the safety of user assets.

Vaneck's Head of Investments and Capital Markets, Russel Chesler, commented on April 2 that U.S. President Donald Trump's recent speech did not positively impact market sentiment. According to Jin10, Chesler noted that if Trump's intention was to bolster market confidence, he was unsuccessful. The prevailing concern among investors is the uncertainty surrounding the duration of the ongoing war, which is contributing to market volatility. As the market anticipates a prolonged conflict, asset prices are beginning to retract. In this highly volatile environment, the U.S. dollar is experiencing short-term strength. However, Chesler emphasized that the long-term trend of structural weakening for the dollar remains unchanged. The current market situation is characterized by slowing economic growth coupled with rising inflation expectations, leading towards stagflation.

SendAI developer aryan posted on X: "I found some interesting clues on-chain: The Drift attacker address (HkG...ZES) received funds through Near Intents 8 days ago, but remained inactive until suddenly receiving a large amount of funds from the Drift vault; the attacker then transferred/exchanged these funds to a money laundering address (8ub...Gxw) and several other addresses, all of which received funds through Backpack just yesterday. This is interesting because it means that Backpack may have performed KYC on these accounts; then, these money laundering addresses transferred the funds to an Ethereum address through Wormhole, which had previously received funds through Tornado Cash."

Solana liquidity protocol Orca's CEO, Michael Hwang, has stated that Orca remains unaffected by the recent Drift attack, ensuring the safety of user funds. According to Foresight News, Hwang emphasized that Orca's smart contracts have been audited by four independent firms, and its operational security measures have recently undergone review by external security consultants.

Bitcoin's demand experienced a significant downturn, turning negative by approximately 63,000 BTC at the end of March. According to NS3.AI, CryptoQuant reported that whale addresses, which had been steadily accumulating Bitcoin, shifted their strategy to net selling. This change in behavior among large holders has raised concerns about the cryptocurrency's market dynamics.

The Strait of Hormuz crisis, triggered by the conflict between the United States and Iran, has become one of the biggest external shocks facing the global economy in 2026. It not only tests energy security and supply chain resilience but also reshapes the monetary policy framework.

Crypto asset valuations remained firm in March, posting a slight increase despite declines in most major assets. Current prices still present an attractive entry point for long-term investors, but a further valuation recovery requires a reduction in geopolitical uncertainty.

Jinse Finance launches its cryptocurrency and blockchain industry daily news report, "Jinse 8 AM," issue 3014, providing you with the latest and fastest news on the digital currency and blockchain industry.

Elon Musk held a press conference in an abandoned power plant and announced something no one in the AI ​​industry dared to do: make their own chips.

Jinse Finance launches the "Jinse Web3.0 Daily," providing you with the latest and fastest news on MEME, DeFi, DAO, NFT, and the metaverse industry.

The story of the AI ​​transfer station is essentially an AI-era version of an old business logic—when you don't know what the product is, you are the product.

Value must come from the procedural operation of a fully functional system, not from someone's promise.

March 2026 has passed, and the first batch of compliant stablecoin issuer licenses in Hong Kong, which were widely expected by the market, have not been issued as scheduled.

Therefore, whether it's AI or the crypto ecosystem, privacy is a problem that must be addressed next.