Gate News Report, March 9 — The French Minister of Finance announced that France is prepared to use its strategic petroleum reserves (national emergency energy reserves) to stabilize the market. G7 finance ministers stated they are ready to take all necessary measures to address market volatility, but no consensus has been reached yet on releasing strategic petroleum reserves. Following the announcement, international oil prices surged briefly, with WTI crude oil (West Texas Intermediate) currently at $103.6 per barrel and Brent crude oil at $101.8 per barrel.

Gate News Report, March 9th, NATO intercepted two ballistic missiles entering Turkish airspace. Among them, the second ballistic missile is believed to have aimed at Incirlik Air Base in southern Turkey and was intercepted at the Syria-Turkey border. The Turkish Ministry of Defense stated that Turkey highly values good neighborly relations and regional stability, but will take all necessary measures to respond decisively and without hesitation to any threats targeting Turkish territory or airspace.

Gate News Report, March 9 — According to MLM monitoring, trader Momo opened a long position of 150,000 barrels of crude oil CL (crude oil futures contracts, approximately $15.5 million) three hours ago and closed all positions at market price 13 minutes ago, just 0.1% away from liquidation price. This fluctuation pushed the CL price down to $93.7, about 2.7% below the regular crude oil futures price. Momo lost $1.3 million within 2.5 hours of trading OIL.

Gate News Report, March 9th, data shows that in the past 7 days, the Arbitrum cross-chain bridge had a net inflow of $615.75 million, ranking first among all public chains. Following are Plasma and Avalanche, with net inflows of $442.33 million and $290.88 million respectively. During the same period, Ethereum, Mantle, and Hyperliquid experienced net outflows of $4.364 billion, $183.56 million, and $152.24 million.

Amid increasing volatility in the global financial markets, Bitcoin's price remains relatively stable at approximately $67,378, but analysts warn that a significant pullback in the U.S. stock market could still pressure the crypto market. Major cryptocurrencies such as Ethereum, BNB, and Dogecoin have all risen slightly. Meanwhile, S&P 500 futures declined, oil prices broke through $100, and market panic sentiment increased. Analysts have raised their estimates of the probability of a U.S. stock market crash, indicating that the economy faces dual challenges of inflation and employment pressures.

Gate News reports that on March 9th, market strategist Michael McCarthy stated that the threat to attack refineries is very concerning because it points to the worst economic scenario. He said that if 15% to 20% of global oil supplies are cut off, it will not only drag down the growth of all economies worldwide but also trigger inflation shocks. When inflation is combined with slowing growth, it results in stagflation (i.e., inflation and economic stagnation coexist), which would be an economic disaster.

Gate News Report, March 9th, Token Terminal data shows that Ethereum transaction costs have plummeted 99% from the all-time high in November 2021, currently averaging only $0.016.

Gate News Announcement: On March 9, the Flow Foundation announced that it and Dapper Labs have filed an application with the Seoul Central District Court in South Korea to suspend the decision by the country's three major Korean exchanges to terminate FLOW trading support on March 16. The Flow Foundation stated in the announcement that all major global exchanges have resumed full FLOW services. This week, some

Gate News Report, March 9 — According to Onchain Lens monitoring, within the past 7 hours, a whale sold all 2,879 XAUT at a price of $5,119 each, totaling $14.74 million USDT, with a profit of $2.72 million. The whale bought these XAUT five months ago for $12.02 million.

Gate News Report: On March 8, the total liquidation amount of all contracts across the entire network in the past 24 hours reached $155 million, with long positions dominating the liquidations.