Gate News Report, March 9th, South Korean President Lee Jae-myung issued multiple policy statements. Lee Jae-myung stated that he will quickly seek alternative crude oil sources besides the Strait of Hormuz; will swiftly implement fuel price caps; has ordered proactive measures to address the increasing volatility in financial and foreign exchange markets; and if necessary, will expand the 1,000 trillion won market plan.

Due to the escalation of conflicts in the Middle East, the South Korean government is considering implementing a fuel price cap for the first time in nearly 30 years to address the rapidly rising domestic fuel prices. President Lee Jae-myung has called for the establishment of oil price caps based on region and fuel type, and warned refiners not to collude to raise prices. Despite these measures, fuel prices continue to rise.

Gate News bot message, Tether is experiencing growth as the stablecoin sector expands, while Ethereum and the broader crypto market face bearish conditions. The gap between Tether and Ethereum's market caps is rapidly narrowing.

A survey by the UK Crypto Asset Business Council shows that approximately 40% of customer transfers to cryptocurrency exchanges are blocked or delayed by banks. 80% of exchanges reported an increase in transfer restrictions faced by customers over the past year, including blocked transfers and payment caps.

The Korea Digital Asset Exchange Alliance (DAXA) publicly opposed the government's proposed policy to restrict the shareholding ratio of major shareholders in exchanges on Tuesday, stating that this move could severely hinder the development of South Korea's digital asset industry. In a statement released to The Block, DAXA pointed out that limiting equity caps to 15% to 20% could not only affect the existing company's equity structure but also undermine user asset custody responsibilities and market stability.

President Trump of the United States has once again voiced strong financial policy proposals. He publicly stated that if major American credit card companies fail to lower their annual credit card interest rates to 10% by January 20, 2026, the government will consider taking strict legal action. This statement quickly drew significant attention from markets and the banking industry and has become a focal point in current discussions on U.S. financial policy. From the content of the statement, Trump characterized annual credit card interest rates of 20% to 30% as "systematic exploitation of ordinary families," and framed setting interest rate caps as a consumer protection measure. He emphasized that long-term high interest rates are the core reason for the ongoing increase in debt burdens among American residents and must be addressed through administrative and legal means.

In 2025, benefiting from the warming attitude of the U.S. government towards digital assets, Circle's USDC stablecoin's growth rate consecutively surpassed Tether's USDT, with market caps reaching $75.12 billion and $186.6 billion respectively. This indicates that other stablecoins have not benefited from changes in U.S. regulation.

In 2025, the Trump family's ventures in the cryptocurrency space experienced explosive returns, covering Meme coins, decentralized finance (DeFi) protocols, and investments in related publicly listed companies, forming a highly commercialized and also highly controversial "Trump Cryptocurrency Empire." According to Forbes, Trump's personal net worth is approximately $6.6 billion, with a significant portion derived from crypto-related assets. The most attention-grabbing are Trump-themed Meme coins. In early 2025, Trump and his wife Melania launched their own themed tokens successively, with initial market caps reaching billions of dollars. However, as the speculative frenzy subsided, the token prices plummeted, and investors who bought at the peak suffered heavy losses, with some declines exceeding 90%. Despite this, the Trump family remained the main beneficiaries. Public information shows that Trump or entities controlled by him could ultimately hold up to 80% of the total token supply. Even considering liquidity and sell pressure restrictions, their on-paper value remains very high. On-chain data indicates that related wallets have transferred nearly $100 million in stablecoins and some tokens to custody and trading platforms, showing signs of phased liquidation.

As the cryptocurrency market continues to be sluggish, the huge gap between the actual market value of many blockchain projects and their early venture capital valuations has been thoroughly exposed. CryptoRank summary data shows that many crypto startups once favored by venture capital firms and valued near or even reaching unicorn levels now have a market value in the secondary market that is only a small fraction of their previous valuation, reflecting a systemic valuation reset amid tightening liquidity. Data shows that Humanity Protocol was once valued at nearly $1 billion in venture capital funding, but its current market value is about $285 million. Fuel Network was also valued close to $1 billion during its funding stage, but its current market value is only about $11 million. Bubblemaps has a similar situation; its venture capital valuation was once high, but now its market value is only about $6 million.

Odaily Planet Daily reports that the Federal Reserve has announced it will seek public comment on "payment accounts." Eligible financial institutions can use these accounts for limited payment clearing and settlement. Payment accounts are different from main accounts, do not accrue interest, and cannot access Federal Reserve credit. They will also be subject to limits such as balance caps. Main accounts are the accounts financial institutions currently use to access Federal Reserve payment services. It is understood that this public consultation aims to promote innovation in payment accounts while ensuring the security of the payment system.