News

On the news front, international oil prices surged, with WTI crude oil rising over 8%, quoted at $94.66; Brent crude oil rising over 7%, quoted at $95.78. Iran's Supreme Leader Mojtaba Khamenei stated that they will not give up on revenge, and the Strait of Hormuz will remain closed.

ChainCatcher reports that Ark Invest and Unchained jointly released a report stating that although most of the bitcoin supply is secure against quantum computing breakthroughs, about 34.6% of bitcoin remains at potential risk. The threatened portion includes approximately 5 million BTC (25% of total supply) that are transferable due to address reuse, about 1.7 million BTC (8.6%) stored in early P2PK addresses, and around 200,000 BTC (about 1%) affected by the P2TR address type. If quantum computers are able to break bitcoin's elliptic curve cryptography (ECC), these funds could be at risk of theft, but this stage is expected to take several more years to achieve. Ark Invest believes this is a "long-term risk," so the bitcoin community has ample time to research and implement quantum protection measures.

Golden Ten Data reported on March 12 that, according to informed sources, as electricity prices soar, the European Commission is considering relaxing the rules for the supply of carbon emission allowances and allowing more countries to provide subsidies to curb the rise in electricity prices. The European Commission is also studying whether to temporarily relax the rules for granting free emission allowances to companies in the carbon market, while permitting reductions in grid fees and energy taxes. The European Commission will present these options at the EU leaders' summit on March 19. EU leaders are concerned that additional energy costs will further burden businesses. Europe's plan to revive its sluggish manufacturing sector and enhance global competitiveness largely depends on whether energy costs can be reduced. European natural gas prices have risen nearly 60% this month, and the market expects supply disruptions may last for several months. Although the summit next week is not expected to make a final decision on energy measures, national leaders will attempt to determine the policy direction for the European Commission's next steps.