Overnight Key Developments on March 25

21:00-7:00 Keywords: ICNT, Tether, Iran, tokenized stocks1. A certain exchange will launch ICNT spot trading;2. The probability that the US Federal Reserve will keep interest rates unchanged in April is 90.7%;3. The US proposed a negotiation plan to Iran containing “15 conditions”;4. Iran's Revolutionary Guard: Any passing vessel must coordinate fully with our side;5. Tether has hired one of the Big Four accounting firms to complete its first comprehensive audit;6. The latest draft of the CLARITY Act: Prohibits earning income solely from holding stablecoins;7. Morgan Stanley: Plans to support trading of tokenized stocks on an alternative trading system in the second half of 2026.