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13:21
The UAE suffers another missile and drone attack, prompting some Middle Eastern funds to consider relocating to Singapore
BlockBeats News, on March 13, the UAE reported that it was hit by 7 missiles and 27 drones on Friday. On the same day, Abu Dhabi National Oil Company set the official April Murban crude oil price at $69.45 per barrel. Meanwhile, crypto KOL "Lin Wanwan's Cat" revealed that recently, some family offices from the Middle East have contacted Singapore, planning to transfer funds to the region, and some Dubai family offices have begun discussing settlement matters. However, the entry of related funds into Singapore still requires compliance procedures such as background checks by the Monetary Authority of Singapore.
13:21
Bitget wins the TokenInsight Awards 2025 "Comprehensive Exchange of the Year" award
Odaily reported that TokenInsight awarded Bitget the "Universal Exchange of the Year" in its annual selection, recognizing its ongoing innovation and comprehensive strength in the global crypto asset trading ecosystem. According to reports, TokenInsight's evaluation is based on multiple dimensions, including product system, liquidity depth, user scale growth, and diversified asset trading capabilities. Bitget is gradually building a comprehensive trading platform covering spot, derivatives, asset management, on-chain ecosystem, as well as traditional financial asset trading such as stocks and CFDs, further demonstrating the development direction of the "Universal Exchange".
13:17
Clouds gather over the Strait of Hormuz as Saudi Arabia abruptly cuts daily production by 2 million barrels, changing the oil market supply landscape
⑴ According to institutional sources on Friday, two insiders revealed that Saudi Arabia, the world's largest oil exporter, has reduced its oil production by approximately 2 millions barrels per day, bringing it down to around 8 millions barrels per day. This move stems from the country shutting down part of the output from two major offshore oil fields. ⑵ Sources said that although Saudi Arabia is transferring more crude oil to the Yanbu port on the Red Sea coast to avoid potential risks in the Strait of Hormuz, production has dropped following the closure of the Safaniya and Zuluf offshore oil fields. Another source confirmed that Saudi Arabia's production has fallen below 8 millions barrels per day. ⑶ It is understood that the closed offshore oil fields mainly produce heavy and medium-heavy crude oil, with a combined output exceeding 2 millions barrels per day. The pipeline to Yanbu is primarily used to transport light crude oil and cannot fully offset the supply gap of heavy crude oil. ⑷ If production has indeed dropped to 8 millions barrels per day, it means there has been a steep decline compared to the market supply in February. Data shows that Saudi Arabia supplied 10.11 millions barrels per day to the market in February, with production at 10.88 millions barrels per day. At that time, the production increase was seen as an emergency plan to address potential supply risks.
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