[1/3] [Crypto/TradFi Merge Update] 2026-03-06 16:00 (Beijing Time) ━━ Important News ━━ 1. The SEC dropped key charges against Justin Sun and related entities of Tron/BitTorrent; Rainberry agreed to pay a $10 million fine (pending court approval). The SEC has agreed to drop the remaining charges against Justin Sun, the Tron Foundation, and the BitTorrent Foundation, bringing the nearly three-year-long dispute to a close. Rainberry (the predecessor of BitTorrent Inc.), associated with Justin Sun, has agreed to pay a $10 million civil penalty on a "neither admitting nor denying" basis (the settlement still requires judge approval). Some reports suggest the news triggered a rebound in TRON's price. (TechFlow | PANews | Odaily | Coingape) 2. Commercial shipping in the Strait of Hormuz has "virtually ground to a halt," with traffic dropping to single digits; the insurance underwriting capacity gap remains large. The United Maritime Information Center reported that only a small number of confirmed commercial passages were observed in the past 24 hours; meanwhile, reports indicate that the U.S. Department of Transportation (DFC) still needs approximately $200 billion in underwriting capacity to provide the necessary insurance for vessels passing through the strait. Geopolitical risks are impacting oil prices, inflation, and expectations for risky assets. (PANews | Kobeissi Letter) 3. US Crypto Market Structure Legislation Accelerates: Negotiations on the Clarity Act are progressing, with the SEC and CFTC signaling cooperation. Multiple sources indicate that market structure legislation negotiations are "moving in the right direction," with Senator Tillis considered a key vote. Industry insiders remain cautiously optimistic about the Senate Banking Committee entering the markup phase in late March. SEC Chairman Paul Atkins and Senator Lummis have both stated they will cooperate with CFTC Chairman Mike Selig to push the legislation "to its final stage." (PANews | Cointelegraph | Foresight News | CoinGape) 4. US regulators clarify capital requirements for tokenized securities: emphasizing technological neutrality and adherence to existing rules; banks can participate in related business. Fed guidelines/Q&As emphasize that tokenized securities are subject to the same regulatory capital requirement framework as traditional securities, and that blockchain/distributed ledger technology generally does not change capital treatment; this has been reported/retrieved by some as a clearer policy signal from the Fed/OCC/FDIC regarding banks' handling of tokenized securities. (PANews | Cointelegraph | CoinGape | OCC(X)) 5. Solv Protocol: BRO Vault suffered an attack that resulted in a loss of approximately $2.7 million. The company will fully cover the loss and provide 10% of the damages. The white-hat bounty program is called a "limited vulnerability attack." The loss was 38.0474 SolvBTC, and fewer than 10 users were affected. Security analysis suggests that the attackers may have exploited a contract flaw to perform abnormal minting and asset redemption. (TechFlow | PANews | Odaily) 6. Dubai's VARA issued a market alert to KuCoin, alleging that it was providing services to Dubai residents without a license and misrepresenting the status of its licenses. VARA stated that KuCoin offered virtual asset services to Dubai residents without obtaining the necessary approvals and has been ordered to cease unlicensed activities; it warned that operating without a license would pose significant financial and legal risks. (PANews) 7. US spot ETFs under pressure: BTC saw a net outflow of approximately $228 million yesterday; ETH saw a net outflow of approximately $90.9 million. Multiple statistics show that both BTC and ETH spot ETFs recorded net outflows (slight differences depending on the data source); among them, ETHA recorded a net inflow, while FETH recorded a larger net outflow. (SoSoValue | BlockBeats | TechFlow) 8. Russia's regulatory approach is proceeding on two fronts: The central bank plans to open up "registration-based" crypto licenses for banks/brokers (with an exposure cap of 1% of capital); the Ministry of Finance is also proposing a separate bill for stablecoins. The Russian central bank proposes that traditional financial institutions obtain crypto trading licenses through a notification/registration process and rely on the existing AML system for regulation, with related risk exposure to be limited to 1% of capital; at the same time, the Russian Ministry of Finance is considering separating stablecoin regulation from exchange rules and mentioning the potential for cross-border settlement of stablecoins. (Foresight News | PANews | PANews) Market Analysis 1. The US February unemployment rate and non-farm payrolls will be released tonight at 21:30: the unemployment rate is expected to be mostly concentrated at 4.3%, and the Reuters non-farm payrolls are expected to be +59,000. Key macroeconomic data may affect the yield of US Treasury bonds and the volatility of risk assets. The market is paying attention to the repricing of the interest rate cut path by weak employment/sticky inflation. (BlockBeats | Odaily) 2. Binance Research: Rising oil prices and energy supply disruptions may push up inflation and tighten financial conditions, which would be detrimental to risk assets. The research points out that if oil prices continue to rise, they may increase CPI, increase term premiums and tighten financial conditions, thereby suppressing the valuation of risk assets.