Due to the Saudi Arabian Defense Fund’s recent progress by the Houthi armed forces, it has formally announced an accelerated plan to develop the maritime industry. The initial capital injection totals USD 12 billion. The fund has already signed three long-term cooperation agreements with shipping enterprises in the UAE and Qatar, covering two core areas: Red Sea shipping route security and port digitalization upgrades. The first projects are set to be implemented in 2026 Q4. Next, the first observation checkpoint is the mid-October announcement of the procurement tender results for the fund’s first batch of security vessels, which will directly determine the progress of restoring shipping capacity on the Red Sea route. The second observation checkpoint is during the November G20 summit, when whether Middle Eastern countries will introduce a pilot regulatory framework for shipping digitalized encrypted payment could affect the compliance application space for BTC and ETH in cross-border trade payment scenarios if the framework is implemented. $BTC $ETH #加密监管 #geopolitical risk