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March 20th news: Federal Reserve Governor Michelle Bowman (an official with a dovish stance) stated in an interview with Fox Business Network that it is still too early to assess the impact of the war in Iran, and she expects the economy to grow strongly this year, benefiting from government supply-side spending. Bowman said she has not heard news of companies laying off employees, but she remains concerned about the labor market. She also reiterated that she still expects three interest rate cuts this year. Regarding banking regulation, Bowman hopes to ensure that current banking regulatory reforms fully consider the needs of banks and will continue to adjust regulatory rules based on the characteristics of banks. Bowman is closely monitoring the private credit sector and also paying attention to leverage in the artificial intelligence sector, ensuring that regulators are aware of related risks. Bowman expressed anticipation of working with Kevin Walsh, stating that if his appointment is approved, it will have a significant impact on the Federal Reserve. Regarding Federal Reserve Chair Jerome Powell, Bowman said that Powell has clearly stated his intentions regarding his tenure at the Fed and will let Powell himself elaborate on the situation. (JIN10)

[Fed Governor Bowman: Still Expects Three Rate Cuts This Year]March 20th news: Federal Reserve Governor Michelle Bowman (an official with a dovish stance) stated in an interview with Fox Business Network that it is still too early to assess the impact of the war in Iran, and she expects the economy to grow strongly this year, benefiting from government supply-side spending. Bowman said she has not heard news of companies laying off employees, but she remains concerned about the labor market. She also reiterated that she still expects three interest rate cuts this year. Regarding banking regulation, Bowman hopes to ensure that current banking regulatory reforms fully consider the needs of banks and will continue to adjust regulatory rules based on the characteristics of banks. Bowman is closely monitoring the private credit sector and also paying attention to leverage in the artificial intelligence sector, ensuring that regulators are aware of related risks. Bowman expressed anticipation of working with Kevin Walsh, stating that if his appointment is approved, it will have a significant impact on the Federal Reserve. Regarding Federal Reserve Chair Jerome Powell, Bowman said that Powell has clearly stated his intentions regarding his tenure at the Fed and will let Powell himself elaborate on the situation. (JIN10)

Fed Governor Bowman: Still Expects Three Rate Cuts This Year

On March 20, police in Wanshan, Tongren, Guizhou Province, China, recently cracked a virtual currency transaction fraud case. The victim, Chen, was defrauded of 7,118 USDT (equivalent to over 50,000 yuan) by the scammer Tan during an offline USDT transaction. Tan used a 'read-only wallet' (a wallet address that can only be used for receiving and viewing by the user) and displayed cash to perpetrate the scam. Investigations revealed that Tan first displayed cash to gain trust. After Chen transferred the USDT into the 'read-only wallet', Tan immediately transferred the funds and denied the transaction. The case is currently under further investigation. Police remind the public that virtual currency-related businesses are illegal financial activities with extremely high risks; offline cash displays may be a scammer's trap; and it is crucial to verify the authenticity of wallet addresses before transferring funds. (Guangming Net)

[Chinese Police Bust Virtual Currency Scam Using 'Read-Only Wallets']On March 20, police in Wanshan, Tongren, Guizhou Province, China, recently cracked a virtual currency transaction fraud case. The victim, Chen, was defrauded of 7,118 USDT (equivalent to over 50,000 yuan) by the scammer Tan during an offline USDT transaction. Tan used a 'read-only wallet' (a wallet address that can only be used for receiving and viewing by the user) and displayed cash to perpetrate the scam. Investigations revealed that Tan first displayed cash to gain trust. After Chen transferred the USDT into the 'read-only wallet', Tan immediately transferred the funds and denied the transaction. The case is currently under further investigation. Police remind the public that virtual currency-related businesses are illegal financial activities with extremely high risks; offline cash displays may be a scammer's trap; and it is crucial to verify the authenticity of wallet addresses before transferring funds. (Guangming Net)

Chinese Police Bust Virtual Currency Scam Using 'Read-Only Wallets'

Tencent Yuanbao has announced the launch of a limited-time "One-Click Shrimp Farming + Massive Tokens" free trial event. From March 20th to March 23rd, for four consecutive days, users who update their Yuanbao App to version V2.61.0 will have the chance to create an exclusive Bot (little shrimp) for free within 'Yuanbao Pai' and receive a large amount of free Tokens daily.

[Tencent Yuanbao Launches 'One-Click Shrimp Farming' Event, Offering Free Tokens]Tencent Yuanbao has announced the launch of a limited-time "One-Click Shrimp Farming + Massive Tokens" free trial event. From March 20th to March 23rd, for four consecutive days, users who update their Yuanbao App to version V2.61.0 will have the chance to create an exclusive Bot (little shrimp) for free within 'Yuanbao Pai' and receive a large amount of free Tokens daily.

Tencent Yuanbao Launches 'One-Click Shrimp Farming' Event, Offering Free Tokens

On March 20th, Spark announced via Twitter that its protocol is currently generating approximately $10 million in protocol revenue per month. In the first quarter of 2026, a total of $33 million in protocol revenue was recorded, representing a year-over-year increase of about 10% compared to the first quarter of 2025. Its main revenue streams include the Spark Liquidity Layer (SLL), SparkLend, and Market Curation. The full first-quarter financial report will be released soon.

[Spark Reports $33 Million in Q1 Protocol Revenue, Up 10% Year-Over-Year]On March 20th, Spark announced via Twitter that its protocol is currently generating approximately $10 million in protocol revenue per month. In the first quarter of 2026, a total of $33 million in protocol revenue was recorded, representing a year-over-year increase of about 10% compared to the first quarter of 2025. Its main revenue streams include the Spark Liquidity Layer (SLL), SparkLend, and Market Curation. The full first-quarter financial report will be released soon.

Spark Reports $33 Million in Q1 Protocol Revenue, Up 10% Year-Over-Year

According to monitoring by 1M AI News, Tencent's TEG (Technology Engineering Group) has undergone an organizational restructuring, leading to the official dissolution of the AI Lab, which was established in 2016. Tencent Group Vice President Jiang Jie will no longer serve as the head of the AI Lab, although other management responsibilities remain unchanged. Some personnel from the former AI Lab will be transferred to the Unified Model Team, reporting to Chief AI Scientist Yao Shunyu; the Industry-Academia-Research Cooperation Center will be retained; and the head of the Multimodal Department will now report to TEG President Lu Shan. Yao Shunyu, born in 1997 and a Tsinghua University graduate, previously worked as a researcher at OpenAI and joined Tencent in December 2025, reporting directly to President Liu Chuangping. During Tencent's financial report meeting on March 18, it was revealed that the Unified Model 3.0, led by Yao Shunyu, has entered internal business testing and is expected to be released in April. Over the past decade, the AI Lab has been led by figures such as Yao Xing, Zhang Tong, Zhang Zhengyou, and Jiang Jie, achieving representative results in areas such as decision intelligence ("Jue Wu"), medical imaging ("Tencent Mi Ying"), and protein structure prediction (tFold), with technologies applied in hundreds of Tencent products including WeChat and QQ.

[End of a Decade: Tencent's AI Lab Merges into Unified Model Team]According to monitoring by 1M AI News, Tencent's TEG (Technology Engineering Group) has undergone an organizational restructuring, leading to the official dissolution of the AI Lab, which was established in 2016. Tencent Group Vice President Jiang Jie will no longer serve as the head of the AI Lab, although other management responsibilities remain unchanged. Some personnel from the former AI Lab will be transferred to the Unified Model Team, reporting to Chief AI Scientist Yao Shunyu; the Industry-Academia-Research Cooperation Center will be retained; and the head of the Multimodal Department will now report to TEG President Lu Shan. Yao Shunyu, born in 1997 and a Tsinghua University graduate, previously worked as a researcher at OpenAI and joined Tencent in December 2025, reporting directly to President Liu Chuangping. During Tencent's financial report meeting on March 18, it was revealed that the Unified Model 3.0, led by Yao Shunyu, has entered internal business testing and is expected to be released in April. Over the past decade, the AI Lab has been led by figures such as Yao Xing, Zhang Tong, Zhang Zhengyou, and Jiang Jie, achieving representative results in areas such as decision intelligence ("Jue Wu"), medical imaging ("Tencent Mi Ying"), and protein structure prediction (tFold), with technologies applied in hundreds of Tencent products including WeChat and QQ.

End of a Decade: Tencent's AI Lab Merges into Unified Model Team

March 20th news: Damage to Qatar's liquefied natural gas (LNG) facilities has led to a reduction in its export volume by approximately 17%, causing European natural gas prices to rise. Repair work could take several years. What was initially considered a short-term supply disruption has now evolved into a multi-year supply shock, tightening global market supply and pushing up long-term prices, particularly for contracts maturing in 2027. Buyers are adopting a wait-and-see approach, traders are proceeding with caution, and market volatility has surged significantly. Although current mild weather is suppressing gas demand, prices could rapidly increase once temperatures drop.

[European Natural Gas Prices Surge Amid Qatar Facility Outage]March 20th news: Damage to Qatar's liquefied natural gas (LNG) facilities has led to a reduction in its export volume by approximately 17%, causing European natural gas prices to rise. Repair work could take several years. What was initially considered a short-term supply disruption has now evolved into a multi-year supply shock, tightening global market supply and pushing up long-term prices, particularly for contracts maturing in 2027. Buyers are adopting a wait-and-see approach, traders are proceeding with caution, and market volatility has surged significantly. Although current mild weather is suppressing gas demand, prices could rapidly increase once temperatures drop.

European Natural Gas Prices Surge Amid Qatar Facility Outage

Federal Reserve Governor Christopher Waller stated that if oil prices remain elevated for several months, they will eventually be passed on to core inflation. (Jinshi)

[Woller: High Oil Prices to Impact Core Inflation]Federal Reserve Governor Christopher Waller stated that if oil prices remain elevated for several months, they will eventually be passed on to core inflation. (Jinshi)

Woller: High Oil Prices to Impact Core Inflation

Federal Reserve Governor Bowman stated that Waller is expected to have a 'strong influence' on Federal Reserve policy. (Jin Shi)

[Bowman: Waller Will Have a Strong Influence on Federal Reserve Policy]Federal Reserve Governor Bowman stated that Waller is expected to have a 'strong influence' on Federal Reserve policy. (Jin Shi)

Bowman: Waller Will Have a Strong Influence on Federal Reserve Policy

On March 20, Fed Governor Bowman stated that she still expects three rate cuts in 2026. (Jin Shi)

[Fed Governor Bowman: Still Expects Three Rate Cuts in 2026]On March 20, Fed Governor Bowman stated that she still expects three rate cuts in 2026. (Jin Shi)

Fed Governor Bowman: Still Expects Three Rate Cuts in 2026

August 16th, according to Cryptoslate, PayPal stated in an email sent to some users on August 14th that due to new rules introduced by the UK Financial Conduct Authority (FCA), PayPal will temporarily suspend its cryptocurrency purchase services in the UK from October 1st, 2023, and will resume in early 2024, with no specific date yet.

[PayPal Will Suspend Cryptocurrency Purchases in the UK From October and Is Expected To Resume Early Next Year]August 16th, according to Cryptoslate, PayPal stated in an email sent to some users on August 14th that due to new rules introduced by the UK Financial Conduct Authority (FCA), PayPal will temporarily suspend its cryptocurrency purchase services in the UK from October 1st, 2023, and will resume in early 2024, with no specific date yet.

PayPal Will Suspend Cryptocurrency Purchases in the UK From October and Is Expected To Resume Early Next Year

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