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If this matter really comes to fruition, the crypto circle may usher in a true super capital gateway. A proposal supported by Trump has passed White House review, and the direction is very direct: allow cryptocurrency to enter the $12 trillion 401(k) retirement system in the United States. Many people are still focusing on ETFs, on short-term fluctuations, on a few candlesticks, but what could truly change the industry ceiling is often not a news stimulus, but rather the institutional opening of large capital entry points. What is behind the 401(k)? It's not hot money, nor short-term speculation, but one of the largest long-term retirement savings systems in the United States. What does this mean? It means that crypto assets are increasingly being regarded as a long-term allocation tool, rather than just a niche market suitable for high-risk players. More importantly, once this type of capital really starts to enter, market logic may change: - Will pricing power further concentrate in compliant markets? - Will BTC firmly secure its role as a core institutional position? - Will ETH, custody, compliant trading platforms, and on-chain financial infrastructure welcome a new round of revaluation? Many people always ask what will drive the next bull market; if 401(k) starts to touch crypto, you will find that the truly big story may just be beginning. Who do you think will be the first to be revalued if this matter comes to fruition? BTC, ETH, or the entire compliant crypto financial track?
If this matter really comes to fruition, the crypto circle may usher in a true super capital gateway.

A proposal supported by Trump has passed White House review, and the direction is very direct: allow cryptocurrency to enter the $12 trillion 401(k) retirement system in the United States.

Many people are still focusing on ETFs, on short-term fluctuations, on a few candlesticks, but what could truly change the industry ceiling is often not a news stimulus, but rather the institutional opening of large capital entry points.

What is behind the 401(k)?
It's not hot money, nor short-term speculation, but one of the largest long-term retirement savings systems in the United States.

What does this mean?
It means that crypto assets are increasingly being regarded as a long-term allocation tool, rather than just a niche market suitable for high-risk players.

More importantly, once this type of capital really starts to enter, market logic may change:
- Will pricing power further concentrate in compliant markets?
- Will BTC firmly secure its role as a core institutional position?
- Will ETH, custody, compliant trading platforms, and on-chain financial infrastructure welcome a new round of revaluation?

Many people always ask what will drive the next bull market; if 401(k) starts to touch crypto, you will find that the truly big story may just be beginning.

Who do you think will be the first to be revalued if this matter comes to fruition? BTC, ETH, or the entire compliant crypto financial track?
An important signal has arrived. Michael Selig, the Chairman of the CFTC in the United States, stated: Bringing "truly" cryptocurrency perpetual contract business back to the United States is a core component of the regulatory innovation agenda. This statement carries significant weight. In recent years, the perpetual contract business has been more active outside the United States, for reasons well understood: there is high demand, but regulation has not fully opened up. Now, if U.S. regulators start to actively discuss "bringing perpetuals back to the U.S.,” it is not just a compliance statement, but it releases a larger signal — the mainstream market may begin to reclaim pricing power in cryptocurrency derivatives. What does this mean for the market? 1. If compliant perpetual contracts truly take off, the depth of institutional capital participation may significantly increase. 2. The liquidity center for derivatives may not only be in offshore markets in the future; the pricing influence under the U.S. dollar system may be strengthened again. 3. For core assets like BTC and ETH, volatility, leverage funding structures, and the transmission of market sentiment may all change. Many are still focused on short-term fluctuations, but real significant changes often occur first in the "market infrastructure." If the U.S. really re-embraces cryptocurrency perpetual contracts, who do you think will benefit first? Is it BTC, ETH, or a new round of trading platforms and derivatives tracks?
An important signal has arrived.

Michael Selig, the Chairman of the CFTC in the United States, stated: Bringing "truly" cryptocurrency perpetual contract business back to the United States is a core component of the regulatory innovation agenda.

This statement carries significant weight.

In recent years, the perpetual contract business has been more active outside the United States, for reasons well understood: there is high demand, but regulation has not fully opened up. Now, if U.S. regulators start to actively discuss "bringing perpetuals back to the U.S.,” it is not just a compliance statement, but it releases a larger signal — the mainstream market may begin to reclaim pricing power in cryptocurrency derivatives.

What does this mean for the market?

1. If compliant perpetual contracts truly take off, the depth of institutional capital participation may significantly increase.
2. The liquidity center for derivatives may not only be in offshore markets in the future; the pricing influence under the U.S. dollar system may be strengthened again.
3. For core assets like BTC and ETH, volatility, leverage funding structures, and the transmission of market sentiment may all change.

Many are still focused on short-term fluctuations, but real significant changes often occur first in the "market infrastructure."

If the U.S. really re-embraces cryptocurrency perpetual contracts, who do you think will benefit first? Is it BTC, ETH, or a new round of trading platforms and derivatives tracks?
Recently, a signal worth paying attention to in the market is not just simple fluctuations, but rather "rules starting to follow the money". U.S. lawmakers have proposed the PREDICT Act, aiming to restrict members of Congress, the President, the Vice President, and politically appointed officials from participating in prediction market trading. On the surface, this appears to be aimed at curbing insider trading; but on a deeper level, it signifies that the influence of prediction markets has grown large enough to make traditional power systems uneasy. Why should cryptocurrency users pay attention to this matter? Because prediction markets, on-chain trading, and information games are essentially all competing for the same thing: "pricing power". Whoever can obtain information earlier will be able to price earlier; whoever can convert viewpoints into positions faster will be closer to the next opportunity. Recently, whether it's BTC, ETH, or the trading heat surrounding macroeconomics, policies, and elections, it all indicates one thing: the market is increasingly not just trading assets, but trading expectations. What really deserves attention next may not be a single hotspot, but rather these several directions: 1. Will regulation further compress the space for prediction markets? 2. Will funds shift towards more transparent and more globalized on-chain scenarios? 3. Under the influence of major events, will BTC and mainstream assets continue to become the core entry points for emotional pricing? When a rule begins to be specifically brought forth for restriction, it often indicates that this field has already grown quite large. Do you think the next step for prediction markets is to be compressed by regulation, or will it compel more funds to shift on-chain?
Recently, a signal worth paying attention to in the market is not just simple fluctuations, but rather "rules starting to follow the money".

U.S. lawmakers have proposed the PREDICT Act, aiming to restrict members of Congress, the President, the Vice President, and politically appointed officials from participating in prediction market trading. On the surface, this appears to be aimed at curbing insider trading; but on a deeper level, it signifies that the influence of prediction markets has grown large enough to make traditional power systems uneasy.

Why should cryptocurrency users pay attention to this matter?

Because prediction markets, on-chain trading, and information games are essentially all competing for the same thing: "pricing power".

Whoever can obtain information earlier will be able to price earlier; whoever can convert viewpoints into positions faster will be closer to the next opportunity.

Recently, whether it's BTC, ETH, or the trading heat surrounding macroeconomics, policies, and elections, it all indicates one thing: the market is increasingly not just trading assets, but trading expectations.

What really deserves attention next may not be a single hotspot, but rather these several directions:
1. Will regulation further compress the space for prediction markets?
2. Will funds shift towards more transparent and more globalized on-chain scenarios?
3. Under the influence of major events, will BTC and mainstream assets continue to become the core entry points for emotional pricing?

When a rule begins to be specifically brought forth for restriction, it often indicates that this field has already grown quite large.

Do you think the next step for prediction markets is to be compressed by regulation, or will it compel more funds to shift on-chain?
The Python AI gateway library LiteLLM, which has nearly 100 million downloads, is suspected of experiencing a PyPI supply chain attack ⚠️ The truly frightening aspect of such incidents is not just that "a certain library has problems," but that many developers casually say: pip install litellm and may directly introduce risks into their own machines. According to disclosures, the information that attackers may have stolen includes: - SSH keys - Cloud service credentials (AWS / GCP / Azure) - Kubernetes configurations - Git credentials - API Keys in environment variables - Shell history - Database passwords - Even information related to cryptocurrency wallets This once again highlights one thing: In a time when AI and development toolchains increasingly rely on the open-source ecosystem, supply chain security is no longer a "technical detail," but a real asset security issue. Especially for: - AI developers - Quant teams - Web3 teams - Machines holding hot wallets or deploying private keys The risks are greatly amplified. If you have installed related versions locally, the most important thing to do is not to continue observing, but to immediately: ✅ Check installation records ✅ Rotate API Keys / cloud credentials ✅ Change SSH keys ✅ Investigate abnormal network requests and suspicious processes ✅ Transfer sensitive wallet assets Many people defend against contract vulnerabilities and phishing links, yet overlook the most deadly layer: the development environment itself. #CyberSecurity #LiteLLM #PyPI #AI #Web3 #SupplyChainAttack
The Python AI gateway library LiteLLM, which has nearly 100 million downloads, is suspected of experiencing a PyPI supply chain attack ⚠️

The truly frightening aspect of such incidents is not just that "a certain library has problems," but that many developers casually say:

pip install litellm

and may directly introduce risks into their own machines.

According to disclosures, the information that attackers may have stolen includes:
- SSH keys
- Cloud service credentials (AWS / GCP / Azure)
- Kubernetes configurations
- Git credentials
- API Keys in environment variables
- Shell history
- Database passwords
- Even information related to cryptocurrency wallets

This once again highlights one thing:
In a time when AI and development toolchains increasingly rely on the open-source ecosystem, supply chain security is no longer a "technical detail," but a real asset security issue.

Especially for:
- AI developers
- Quant teams
- Web3 teams
- Machines holding hot wallets or deploying private keys

The risks are greatly amplified.

If you have installed related versions locally, the most important thing to do is not to continue observing, but to immediately:
✅ Check installation records
✅ Rotate API Keys / cloud credentials
✅ Change SSH keys
✅ Investigate abnormal network requests and suspicious processes
✅ Transfer sensitive wallet assets

Many people defend against contract vulnerabilities and phishing links, yet overlook the most deadly layer: the development environment itself.

#CyberSecurity #LiteLLM #PyPI #AI #Web3 #SupplyChainAttack
BTC Price Analysis Today: High-Level Consolidation Doesn't Mean Weakness; Major Players May Be Waiting for the Next Breakout with High Volume 🔥 Looking at today's market, BTC hasn't shown any obvious signs of weakness. Instead, it appears to be consolidating strongly at high levels. The characteristics of this price action are: the decline isn't deep or thorough, but there's no immediate upward breakout. This suggests that the market isn't lacking buyers, but rather that funds are waiting for a more suitable entry point. Why? Because if this were truly a topping area, there would usually be a more significant release of selling pressure, such as a rapid pullback, consecutive breaks of support, and weak rebounds. But now it seems to be a different situation: there is selling pressure, but it's not fatal; there is support, and it can hold. This often implies two possibilities: First, major players are controlling the pace at high levels. They're not in a hurry to push the price up directly, but rather using consolidation to digest short-term profits and cool down the buying frenzy. Once the floating shares have been largely cleared and the selling pressure has eased, they will attempt to push the price up again. Second, the market is waiting for an external catalyst. For example, macroeconomic data, ETF fund flows, changes in the US dollar index, or further confirmation of risk appetite in the US stock market. Before a catalyst emerges, BTC is more likely to maintain high-level consolidation rather than immediately moving in one direction. Therefore, the most important thing to watch next is not just the "price fluctuations," but the quality of the rise: 📌 If a breakout is accompanied by increased volume, it indicates genuine new funds entering the market, significantly increasing the probability of the rally continuing. 📌 If it's just a small new high without sufficient volume, be wary of a false breakout; the probability of a pullback increases. 📌 If the pullback consistently holds above the previous key support level, it means the trend structure is still intact, and the bulls remain in control. My current assessment is: BTC's short-term trend is not yet over; it's currently more likely a "strong consolidation followed by a choice of direction" rather than a clear downtrend. However, the most difficult aspect of this position is that while it doesn't appear to be falling, it doesn't make it easy to get on board. In short: 👉 BTC is currently more like accumulating strength at high levels than experiencing a high-level collapse. 👉 What truly determines the next market move isn't the sideways movement itself, but rather who breaks the equilibrium first after the sideways movement. #BTC#Bitcoin#Crypto#BTC #MarketAnalysis
BTC Price Analysis Today: High-Level Consolidation Doesn't Mean Weakness; Major Players May Be Waiting for the Next Breakout with High Volume 🔥

Looking at today's market, BTC hasn't shown any obvious signs of weakness. Instead, it appears to be consolidating strongly at high levels.

The characteristics of this price action are: the decline isn't deep or thorough, but there's no immediate upward breakout. This suggests that the market isn't lacking buyers, but rather that funds are waiting for a more suitable entry point.

Why? Because if this were truly a topping area, there would usually be a more significant release of selling pressure, such as a rapid pullback, consecutive breaks of support, and weak rebounds.

But now it seems to be a different situation: there is selling pressure, but it's not fatal; there is support, and it can hold.

This often implies two possibilities:

First, major players are controlling the pace at high levels.

They're not in a hurry to push the price up directly, but rather using consolidation to digest short-term profits and cool down the buying frenzy.

Once the floating shares have been largely cleared and the selling pressure has eased, they will attempt to push the price up again.

Second, the market is waiting for an external catalyst.

For example, macroeconomic data, ETF fund flows, changes in the US dollar index, or further confirmation of risk appetite in the US stock market.

Before a catalyst emerges, BTC is more likely to maintain high-level consolidation rather than immediately moving in one direction.

Therefore, the most important thing to watch next is not just the "price fluctuations," but the quality of the rise:

📌 If a breakout is accompanied by increased volume, it indicates genuine new funds entering the market, significantly increasing the probability of the rally continuing.

📌 If it's just a small new high without sufficient volume, be wary of a false breakout; the probability of a pullback increases.

📌 If the pullback consistently holds above the previous key support level, it means the trend structure is still intact, and the bulls remain in control.

My current assessment is: BTC's short-term trend is not yet over; it's currently more likely a "strong consolidation followed by a choice of direction" rather than a clear downtrend.

However, the most difficult aspect of this position is that while it doesn't appear to be falling, it doesn't make it easy to get on board.

In short:

👉 BTC is currently more like accumulating strength at high levels than experiencing a high-level collapse. 👉 What truly determines the next market move isn't the sideways movement itself, but rather who breaks the equilibrium first after the sideways movement.
#BTC#Bitcoin#Crypto#BTC #MarketAnalysis
Morgan Stanley plans to support tokenized stock trading in the second half of 2026. This is not just a simple chase for crypto hotspots, but a formal push from Wall Street to bring tokenization into real trading scenarios. From the statements made, the entry of institutions is not due to FOMO, but rather a natural result of years of upgrading financial infrastructure. This means that tokenized assets are moving from concept to the actual implementation in trading, asset management, and infrastructure. In the short term, this strengthens the narrative; in the long term, if regulation, liquidity, and trading systems gradually improve, tokenized stocks are likely to become a key entry point connecting TradFi and Crypto. The direction that truly deserves attention is not just market sentiment, but: RWA, securities tokenization, institutional-grade custody, and compliant trading infrastructure. #Tokenization #RWA #MorganStanley #Crypto #TradFi
Morgan Stanley plans to support tokenized stock trading in the second half of 2026. This is not just a simple chase for crypto hotspots, but a formal push from Wall Street to bring tokenization into real trading scenarios.

From the statements made, the entry of institutions is not due to FOMO, but rather a natural result of years of upgrading financial infrastructure.
This means that tokenized assets are moving from concept to the actual implementation in trading, asset management, and infrastructure.

In the short term, this strengthens the narrative; in the long term, if regulation, liquidity, and trading systems gradually improve, tokenized stocks are likely to become a key entry point connecting TradFi and Crypto.

The direction that truly deserves attention is not just market sentiment, but:
RWA, securities tokenization, institutional-grade custody, and compliant trading infrastructure.

#Tokenization #RWA #MorganStanley #Crypto #TradFi
Circle is sending a clear signal to the European Union: If we want to truly promote the implementation of on-chain financial infrastructure, we cannot only regulate asset issuance, but also reform the settlement system simultaneously. According to the latest disclosed information, Circle has submitted feedback to the European Commission, calling for the acceleration of regulatory reforms for Distributed Ledger Technology (DLT) and the expansion of the use of stablecoins in securities settlement. Its core recommendations include: • Expanding the asset scope of DLT pilot systems • Increasing transaction size limits • Allowing stablecoins compliant with MiCA to be used for cash settlement • Allowing crypto service providers, not just banks and central securities depositories, to offer settlement accounts The logic behind this is actually very clear. If on-chain securities, on-chain bonds, on-chain funds, and other assets are to truly form a market, it is not enough to rely solely on "asset on-chain"; settlement funds must also be on-chain. Otherwise, assets are on-chain, but cash remains in the traditional settlement track, ultimately creating an efficiency divide. Circle's appeal is essentially pushing for a more complete upgrade of the financial market structure: Not just to make stablecoins payment tools, but to further enable them to become compliant financial settlement tools. If the EU really accepts such recommendations in the future, the impact will be far-reaching: • The role of stablecoins will upgrade from "on-chain dollar alternatives" to "securities settlement infrastructure" • Institutional adoption thresholds may further decrease • Certain settlement stages monopolized by banks and infrastructure institutions in traditional finance may be redefined • Europe has the opportunity to take the lead globally in the integration of on-chain securities and stablecoin settlement This also indicates an increasingly clear trend: In the future, competition among stablecoins will not only be about issuance scale and payment scenarios but also about the ability to enter mainstream financial settlement layers. Do you think stablecoins will first become payment tools or first become securities settlement tools? #稳定币 #链上资产 #欧盟加密货币
Circle is sending a clear signal to the European Union:
If we want to truly promote the implementation of on-chain financial infrastructure, we cannot only regulate asset issuance, but also reform the settlement system simultaneously.

According to the latest disclosed information, Circle has submitted feedback to the European Commission, calling for the acceleration of regulatory reforms for Distributed Ledger Technology (DLT) and the expansion of the use of stablecoins in securities settlement. Its core recommendations include:

• Expanding the asset scope of DLT pilot systems
• Increasing transaction size limits
• Allowing stablecoins compliant with MiCA to be used for cash settlement
• Allowing crypto service providers, not just banks and central securities depositories, to offer settlement accounts

The logic behind this is actually very clear.

If on-chain securities, on-chain bonds, on-chain funds, and other assets are to truly form a market, it is not enough to rely solely on "asset on-chain"; settlement funds must also be on-chain. Otherwise, assets are on-chain, but cash remains in the traditional settlement track, ultimately creating an efficiency divide.

Circle's appeal is essentially pushing for a more complete upgrade of the financial market structure:
Not just to make stablecoins payment tools, but to further enable them to become compliant financial settlement tools.

If the EU really accepts such recommendations in the future, the impact will be far-reaching:
• The role of stablecoins will upgrade from "on-chain dollar alternatives" to "securities settlement infrastructure"
• Institutional adoption thresholds may further decrease
• Certain settlement stages monopolized by banks and infrastructure institutions in traditional finance may be redefined
• Europe has the opportunity to take the lead globally in the integration of on-chain securities and stablecoin settlement

This also indicates an increasingly clear trend:
In the future, competition among stablecoins will not only be about issuance scale and payment scenarios but also about the ability to enter mainstream financial settlement layers.
Do you think stablecoins will first become payment tools or first become securities settlement tools? #稳定币 #链上资产 #欧盟加密货币
The latest draft of the U.S. 'Clarity Act' has once again brought the core issue of stablecoin profit distribution to the forefront. According to the latest disclosed amendments, the draft bill aims to prohibit users from earning profits solely based on their stablecoin balances, and it also restricts any arrangements that resemble bank deposit interest. According to the current direction of discussions, the profit models that may be allowed in the future might only be based on user activity rather than simple 'holding coins for interest'. This change seems like just a refinement of terms, but it actually has significant implications. Because it touches on one of the most critical issues of stablecoin competitiveness: Can stablecoins really become interest-bearing substitutes for the dollar? If the bill ultimately progresses in this direction, the market may see several changes: • Pure holding profit models will be compressed • Stablecoin projects will need to redesign incentive structures • 'Profits' may shift more towards behavioral rewards such as trading, payments, and liquidity participation • The boundary of interests between the banking industry and stablecoin issuers will be further clarified From a game-theoretical perspective, such restrictions are not surprising. The banking industry has always been concerned that if stablecoins naturally possess attractions similar to deposit interest, funds could accelerate the flow from the traditional banking system to the on-chain dollar system, thereby weakening the banking deposit base and lending capacity. This amendment draft is essentially a result of balancing these interests. On the other hand, if stablecoins can only be used for payment settlements but cannot provide holding profits, then their attractiveness to ordinary users and institutions may also be reassessed. This means that the competition in the stablecoin space in the future may not only be about 'who is more compliant,' but it will also turn into 'who can design still sufficiently attractive use cases within the compliance framework.' What do you think? If stablecoins are restricted from 'holding profits,' will their growth logic be weakened? #稳定币 #稳定币法案 case
The latest draft of the U.S. 'Clarity Act' has once again brought the core issue of stablecoin profit distribution to the forefront.

According to the latest disclosed amendments, the draft bill aims to prohibit users from earning profits solely based on their stablecoin balances, and it also restricts any arrangements that resemble bank deposit interest. According to the current direction of discussions, the profit models that may be allowed in the future might only be based on user activity rather than simple 'holding coins for interest'.

This change seems like just a refinement of terms, but it actually has significant implications.
Because it touches on one of the most critical issues of stablecoin competitiveness: Can stablecoins really become interest-bearing substitutes for the dollar?

If the bill ultimately progresses in this direction, the market may see several changes:
• Pure holding profit models will be compressed
• Stablecoin projects will need to redesign incentive structures
• 'Profits' may shift more towards behavioral rewards such as trading, payments, and liquidity participation
• The boundary of interests between the banking industry and stablecoin issuers will be further clarified

From a game-theoretical perspective, such restrictions are not surprising. The banking industry has always been concerned that if stablecoins naturally possess attractions similar to deposit interest, funds could accelerate the flow from the traditional banking system to the on-chain dollar system, thereby weakening the banking deposit base and lending capacity. This amendment draft is essentially a result of balancing these interests.

On the other hand, if stablecoins can only be used for payment settlements but cannot provide holding profits, then their attractiveness to ordinary users and institutions may also be reassessed.

This means that the competition in the stablecoin space in the future may not only be about 'who is more compliant,' but it will also turn into 'who can design still sufficiently attractive use cases within the compliance framework.'

What do you think? If stablecoins are restricted from 'holding profits,' will their growth logic be weakened? #稳定币 #稳定币法案 case
The Solana Foundation released the report "Privacy on Solana", initiating a systematic discussion on an increasingly important topic: the next phase of development in the crypto industry may no longer emphasize "full transparency", but rather shift towards "customizable privacy". The report proposes four privacy models: • Pseudonymity • Confidentiality • Anonymity • Full Privacy Systems The core significance of this framework lies in its attempt to answer a long-standing contradiction: how can blockchain protect user and institutional data while still meeting regulatory and compliance requirements? The Solana Foundation believes that Solana's high throughput and low latency characteristics enable it to support privacy technologies such as zero-knowledge proofs, and on this basis, achieve "controlled disclosure". For example, through mechanisms like audit keys and compliance proofs, transaction information does not need to be completely public, but can still be verified under necessary conditions. This actually reflects that the industry is entering a more pragmatic phase. In the past, the market often viewed "transparency" as a natural advantage of blockchain, but as more institutions, enterprises, and real business scenarios enter on-chain, moderate privacy will instead become a necessity. Because for institutions, fully public transaction paths, holding information, and business relationships are often not suitable for real financial environments. Therefore, the signal released by this report is very clear: the future competition in blockchain is not just about performance and ecology, but also about who can better balance privacy, efficiency, and compliance. Do you think privacy will become an important breakthrough for institutional adoption in the next phase of Solana? #隐私赛道 #solana #监管合规
The Solana Foundation released the report "Privacy on Solana", initiating a systematic discussion on an increasingly important topic: the next phase of development in the crypto industry may no longer emphasize "full transparency", but rather shift towards "customizable privacy".

The report proposes four privacy models:
• Pseudonymity
• Confidentiality
• Anonymity
• Full Privacy Systems

The core significance of this framework lies in its attempt to answer a long-standing contradiction: how can blockchain protect user and institutional data while still meeting regulatory and compliance requirements?

The Solana Foundation believes that Solana's high throughput and low latency characteristics enable it to support privacy technologies such as zero-knowledge proofs, and on this basis, achieve "controlled disclosure". For example, through mechanisms like audit keys and compliance proofs, transaction information does not need to be completely public, but can still be verified under necessary conditions.

This actually reflects that the industry is entering a more pragmatic phase. In the past, the market often viewed "transparency" as a natural advantage of blockchain, but as more institutions, enterprises, and real business scenarios enter on-chain, moderate privacy will instead become a necessity. Because for institutions, fully public transaction paths, holding information, and business relationships are often not suitable for real financial environments.

Therefore, the signal released by this report is very clear: the future competition in blockchain is not just about performance and ecology, but also about who can better balance privacy, efficiency, and compliance.
Do you think privacy will become an important breakthrough for institutional adoption in the next phase of Solana? #隐私赛道 #solana #监管合规
BlackRock CEO Larry Fink has once again released a clear signal: the significance of tokenization is not just about putting assets on the blockchain, but about making investment as simple as payment. According to The Block, Larry Fink stated that as more users hold digital wallets on their phones, tokenization is expected to make investment operations as convenient as daily payments in the future. The key point of this statement lies not in the "technical concept," but in the "reconstruction of user experience." In the past, traditional investments have long faced issues such as high barriers to entry, lengthy processes, slow settlements, and fragmented participation. In contrast, the reason the payment industry has achieved widespread adoption is not because users understand the underlying clearing systems, but because the entire process is simple and instantaneous enough. Fink's judgment actually points out the true direction of tokenization: making the circulation, holding, transfer, and allocation of assets as natural as a transfer. If this trend continues, the changes brought by tokenization may involve not just efficiency improvements, but also: • Lower investment thresholds • Higher asset liquidity • More transparent holding and settlement pathways • Broader global participation This also means that in the future, digital wallets may not only be "storage tools" but may evolve into the core entry point for ordinary users to participate in global asset allocation. From payment to investment, once user habits are reshaped, the distribution methods of financial products will be rewritten accordingly. Do you think tokenization will first change the institutional market, or will it first change the investment methods of ordinary people? #CZ称比特币是硬资产 #亚洲股市重挫 #黄金创43年来最大单周跌幅 #加密货币 #代币化
BlackRock CEO Larry Fink has once again released a clear signal: the significance of tokenization is not just about putting assets on the blockchain, but about making investment as simple as payment.

According to The Block, Larry Fink stated that as more users hold digital wallets on their phones, tokenization is expected to make investment operations as convenient as daily payments in the future. The key point of this statement lies not in the "technical concept," but in the "reconstruction of user experience."

In the past, traditional investments have long faced issues such as high barriers to entry, lengthy processes, slow settlements, and fragmented participation. In contrast, the reason the payment industry has achieved widespread adoption is not because users understand the underlying clearing systems, but because the entire process is simple and instantaneous enough. Fink's judgment actually points out the true direction of tokenization: making the circulation, holding, transfer, and allocation of assets as natural as a transfer.

If this trend continues, the changes brought by tokenization may involve not just efficiency improvements, but also:
• Lower investment thresholds
• Higher asset liquidity
• More transparent holding and settlement pathways
• Broader global participation

This also means that in the future, digital wallets may not only be "storage tools" but may evolve into the core entry point for ordinary users to participate in global asset allocation.
From payment to investment, once user habits are reshaped, the distribution methods of financial products will be rewritten accordingly.
Do you think tokenization will first change the institutional market, or will it first change the investment methods of ordinary people? #CZ称比特币是硬资产 #亚洲股市重挫 #黄金创43年来最大单周跌幅 #加密货币 #代币化
The shortage of US dollars in Venezuela is further deteriorating, and small and medium-sized enterprises are being forced to turn back to cryptocurrencies to cope with the reality of restricted foreign exchange access and obstacles in cross-border payments. According to Reuters, the total official dollar auction amount in Venezuela from mid-January to early March 2026 is approximately $1.3 billion, a decrease of 13% compared to the same period in 2025. Several local business people have stated that large food, medical, beverage, and chemical companies have easier access to priority support in dollar allocation, while medium-sized pharmaceutical, plastic, technology, and some chemical companies frequently fail in bidding, often without clear explanation. The more critical issue is that the dollar shortage is not just a "price issue" but has evolved into a "payment channel issue." In the context of sanctions, the connection of the Venezuelan banking system to the global financial network remains very fragile, and many companies cannot use wire transfers and international payment platforms normally. For small and medium-sized enterprises that rely on imported raw materials and equipment, this means that even if there are orders, they may lose the ability to fulfill them due to the inability to obtain dollars or complete payments. In this situation, cryptocurrencies have once again become a "payment tool" in the real world rather than just a "speculative asset." Some local business owners admit that they originally hoped cryptocurrencies would be just an emergency solution, but as official foreign exchange channels continue to tighten, stablecoins and on-chain settlements have re-entered the daily operating system of enterprises. This incident reiterates that in regions where capital flows are restricted, banking systems fail, or foreign exchange allocation is imbalanced, the true value of cryptocurrencies often lies not in the narrative but in settlement efficiency, accessibility, and cross-border payment capability. For many small and medium-sized enterprises, their survival does not depend on whether they believe in cryptocurrencies but on whether there are other payment options available. What do you think? As traditional dollar channels become increasingly difficult to access, will stablecoins and crypto payments become the "second financial system" for more emerging market enterprises? #稳定币 #加密货币 #跨境金融
The shortage of US dollars in Venezuela is further deteriorating, and small and medium-sized enterprises are being forced to turn back to cryptocurrencies to cope with the reality of restricted foreign exchange access and obstacles in cross-border payments.

According to Reuters, the total official dollar auction amount in Venezuela from mid-January to early March 2026 is approximately $1.3 billion, a decrease of 13% compared to the same period in 2025. Several local business people have stated that large food, medical, beverage, and chemical companies have easier access to priority support in dollar allocation, while medium-sized pharmaceutical, plastic, technology, and some chemical companies frequently fail in bidding, often without clear explanation.

The more critical issue is that the dollar shortage is not just a "price issue" but has evolved into a "payment channel issue." In the context of sanctions, the connection of the Venezuelan banking system to the global financial network remains very fragile, and many companies cannot use wire transfers and international payment platforms normally. For small and medium-sized enterprises that rely on imported raw materials and equipment, this means that even if there are orders, they may lose the ability to fulfill them due to the inability to obtain dollars or complete payments.

In this situation, cryptocurrencies have once again become a "payment tool" in the real world rather than just a "speculative asset." Some local business owners admit that they originally hoped cryptocurrencies would be just an emergency solution, but as official foreign exchange channels continue to tighten, stablecoins and on-chain settlements have re-entered the daily operating system of enterprises.

This incident reiterates that in regions where capital flows are restricted, banking systems fail, or foreign exchange allocation is imbalanced, the true value of cryptocurrencies often lies not in the narrative but in settlement efficiency, accessibility, and cross-border payment capability. For many small and medium-sized enterprises, their survival does not depend on whether they believe in cryptocurrencies but on whether there are other payment options available.

What do you think? As traditional dollar channels become increasingly difficult to access, will stablecoins and crypto payments become the "second financial system" for more emerging market enterprises? #稳定币 #加密货币 #跨境金融
SEC Chairman Clarifies: BTC and ETH Do Not Fall Under Securities Category On March 18, at the DC Blockchain Summit 2026, SEC Chairman Paul Atkins announced a new framework for the classification of tokens and the interpretation of investment contracts, sending a very clear regulatory signal: Bitcoin (BTC) and Ethereum (ETH) are explicitly categorized as non-security assets. According to this new framework, the SEC has explicitly exempted four types of non-security digital assets, including: 1. Digital commodities: such as BTC, ETH 2. Digital collectibles 3. Digital tools 4. Payment stablecoins under the "GENIUS Act" framework Meanwhile, the SEC has also drawn a clearer boundary: The entities that are truly subject to U.S. securities law will mainly be "digital securities," which are tokenized forms of traditional securities. Paul Atkins also emphasized that the SEC is no longer the "committee that regulates everything." The meaning of this statement is very straightforward: in the future, the SEC's regulatory focus will no longer attempt to categorize all crypto assets under securities logic, but will instead conduct more precise classification management based on asset attributes. This is a very critical change for the entire crypto industry. On one hand, the regulatory positioning of BTC and ETH is further clarified, which helps to enhance market expectation stability; On the other hand, this also means that the future focus of industry disputes may gradually shift from "whether it is a security" to "which category of assets it belongs to and which set of rules applies." If this framework is continuously implemented, the narrative of regulation in the crypto market may officially shift from "comprehensive enforcement" to "categorical governance." #加密货币 #监管框架 #SEC
SEC Chairman Clarifies: BTC and ETH Do Not Fall Under Securities Category

On March 18, at the DC Blockchain Summit 2026, SEC Chairman Paul Atkins announced a new framework for the classification of tokens and the interpretation of investment contracts, sending a very clear regulatory signal: Bitcoin (BTC) and Ethereum (ETH) are explicitly categorized as non-security assets.

According to this new framework, the SEC has explicitly exempted four types of non-security digital assets, including:
1. Digital commodities: such as BTC, ETH
2. Digital collectibles
3. Digital tools
4. Payment stablecoins under the "GENIUS Act" framework

Meanwhile, the SEC has also drawn a clearer boundary:
The entities that are truly subject to U.S. securities law will mainly be "digital securities," which are tokenized forms of traditional securities.
Paul Atkins also emphasized that the SEC is no longer the "committee that regulates everything." The meaning of this statement is very straightforward: in the future, the SEC's regulatory focus will no longer attempt to categorize all crypto assets under securities logic, but will instead conduct more precise classification management based on asset attributes.

This is a very critical change for the entire crypto industry.
On one hand, the regulatory positioning of BTC and ETH is further clarified, which helps to enhance market expectation stability;
On the other hand, this also means that the future focus of industry disputes may gradually shift from "whether it is a security" to "which category of assets it belongs to and which set of rules applies."

If this framework is continuously implemented, the narrative of regulation in the crypto market may officially shift from "comprehensive enforcement" to "categorical governance." #加密货币 #监管框架 #SEC
Scaramucci: The four-year cycle of BTC has not yet failed, and Q4 2026 may see a restart of the upward trend. Anthony Scaramucci, founder of SkyBridge Capital, recently stated that Bitcoin's four-year cycle remains effective. The current market's pullback and weakness can still be understood within this traditional framework. He believes that a significant reason behind this round of adjustment is that long-term holders concentrated their selling as they approached the psychological threshold of $100,000, which created obvious pressure on the market. However, Scaramucci does not believe that the long-term upward logic of Bitcoin has been damaged. On the contrary, he predicts that BTC is expected to re-enter an upward channel in Q4 2026, initiating the next bull market cycle. He also mentioned that the continuous entry of institutional investors and the inflow of funds into Bitcoin spot ETFs have indeed had some impact on the traditional "four-year cycle," making the fluctuations less pure and intense than in the past, but this influence is still not enough to completely break the existing cyclical laws of Bitcoin. In other words, institutionalization is changing the rhythm of Bitcoin, but it has not yet rewritten the underlying cyclical logic of Bitcoin. If the four-year cycle still holds, then the current market is more like an adjustment phase within the cycle, rather than the end of a long-term trend. #比特币走势分析 #四年周期 #比特币预测
Scaramucci: The four-year cycle of BTC has not yet failed, and Q4 2026 may see a restart of the upward trend.

Anthony Scaramucci, founder of SkyBridge Capital, recently stated that Bitcoin's four-year cycle remains effective. The current market's pullback and weakness can still be understood within this traditional framework.

He believes that a significant reason behind this round of adjustment is that long-term holders concentrated their selling as they approached the psychological threshold of $100,000, which created obvious pressure on the market.

However, Scaramucci does not believe that the long-term upward logic of Bitcoin has been damaged. On the contrary, he predicts that BTC is expected to re-enter an upward channel in Q4 2026, initiating the next bull market cycle.

He also mentioned that the continuous entry of institutional investors and the inflow of funds into Bitcoin spot ETFs have indeed had some impact on the traditional "four-year cycle," making the fluctuations less pure and intense than in the past, but this influence is still not enough to completely break the existing cyclical laws of Bitcoin.

In other words, institutionalization is changing the rhythm of Bitcoin, but it has not yet rewritten the underlying cyclical logic of Bitcoin.

If the four-year cycle still holds, then the current market is more like an adjustment phase within the cycle, rather than the end of a long-term trend. #比特币走势分析 #四年周期 #比特币预测
US Stablecoin Legislation Encounters New Obstacles: The Battle for Yields Becomes a Key Sticking Point US stablecoin regulatory legislation has once again come to a standstill, with the core disagreement centered on one question: Can stablecoins provide users with 'yields'? Currently, negotiations surrounding the Senate-related bill have broken down. The banking industry strongly opposes stablecoin companies offering any form of yield that resembles 'deposit interest', arguing that even limited incentives could continue to erode the bank deposit base. Standard Chartered even predicts that by the end of 2028, the US banking system could lose about $500 billion in deposits as a result. However, the cryptocurrency industry clearly has a different perspective. Many companies believe that if yields are linked to payments, wallet usage, or on-chain activities, rather than purely passive earnings, such incentives are essentially closer to product innovation rather than traditional deposit interest and should be allowed to exist. The points of contention are also reflected in the ambiguous areas of the legislative text. The Congressional Research Service pointed out on March 6 that while the 'GENIUS Act' explicitly prohibits issuing direct payments of yields to users, it has not completely clarified the models for incentives achieved through third-party structures. The White House has proposed a compromise: allowing incentives in certain scenarios while prohibiting direct returns on 'idle funds', yet this proposal still has not received support from the banking industry. Meanwhile, the Office of the Comptroller of the Currency (OCC) has sent a stronger signal in its proposed rules: certain related arrangements may be deemed as disguised issuance of prohibited yields. The market generally believes that the next window for advancing the stablecoin bill may be in late April to early May. If it still cannot pass by then, the US cryptocurrency market may increasingly rely on regulatory guidance, temporary rules, and policy shifts brought about by future political changes. The future of stablecoins may depend not only on 'compliance' but also on whether they are seen as a true alternative to bank deposits. #稳定币法案 #监管提案
US Stablecoin Legislation Encounters New Obstacles: The Battle for Yields Becomes a Key Sticking Point

US stablecoin regulatory legislation has once again come to a standstill, with the core disagreement centered on one question: Can stablecoins provide users with 'yields'?

Currently, negotiations surrounding the Senate-related bill have broken down. The banking industry strongly opposes stablecoin companies offering any form of yield that resembles 'deposit interest', arguing that even limited incentives could continue to erode the bank deposit base. Standard Chartered even predicts that by the end of 2028, the US banking system could lose about $500 billion in deposits as a result.

However, the cryptocurrency industry clearly has a different perspective. Many companies believe that if yields are linked to payments, wallet usage, or on-chain activities, rather than purely passive earnings, such incentives are essentially closer to product innovation rather than traditional deposit interest and should be allowed to exist.

The points of contention are also reflected in the ambiguous areas of the legislative text. The Congressional Research Service pointed out on March 6 that while the 'GENIUS Act' explicitly prohibits issuing direct payments of yields to users, it has not completely clarified the models for incentives achieved through third-party structures. The White House has proposed a compromise: allowing incentives in certain scenarios while prohibiting direct returns on 'idle funds', yet this proposal still has not received support from the banking industry.

Meanwhile, the Office of the Comptroller of the Currency (OCC) has sent a stronger signal in its proposed rules: certain related arrangements may be deemed as disguised issuance of prohibited yields.

The market generally believes that the next window for advancing the stablecoin bill may be in late April to early May. If it still cannot pass by then, the US cryptocurrency market may increasingly rely on regulatory guidance, temporary rules, and policy shifts brought about by future political changes.

The future of stablecoins may depend not only on 'compliance' but also on whether they are seen as a true alternative to bank deposits. #稳定币法案 #监管提案
Geopolitical risks impact risk assets, Bitcoin falls back from six-week high, losing $72,000In the past few days of escalating tensions in the Middle East, Bitcoin has taught everyone a lesson: risk assets can never escape the switch to 'safe-haven mode.' Earlier this week, Bitcoin surged to nearly $76,000, reaching a new high since early February, looking like it was just a step away from a new breakthrough. However, as geopolitical risks escalated, the market immediately turned downward. On Wednesday, Bitcoin's maximum drop exceeded 3.6%, briefly falling to around $71,560, dousing the short-term bulls' enthusiasm with cold water. Other more volatile mainstream coins also did not escape: Ethereum and Solana both saw intraday declines of around 5%, with the entire crypto sector collectively under pressure in an environment of 'cooling risk appetite'. Related US stocks in the crypto space also weakened; as of the time of writing, Circle (CRCL) was down over 1.8%, Strategy (MSTR) down over 5%, Coinbase (COIN) down over 4%, and Robinhood (HOOD) also fell nearly 3%.

Geopolitical risks impact risk assets, Bitcoin falls back from six-week high, losing $72,000

In the past few days of escalating tensions in the Middle East, Bitcoin has taught everyone a lesson: risk assets can never escape the switch to 'safe-haven mode.'
Earlier this week, Bitcoin surged to nearly $76,000, reaching a new high since early February, looking like it was just a step away from a new breakthrough. However, as geopolitical risks escalated, the market immediately turned downward. On Wednesday, Bitcoin's maximum drop exceeded 3.6%, briefly falling to around $71,560, dousing the short-term bulls' enthusiasm with cold water.
Other more volatile mainstream coins also did not escape: Ethereum and Solana both saw intraday declines of around 5%, with the entire crypto sector collectively under pressure in an environment of 'cooling risk appetite'. Related US stocks in the crypto space also weakened; as of the time of writing, Circle (CRCL) was down over 1.8%, Strategy (MSTR) down over 5%, Coinbase (COIN) down over 4%, and Robinhood (HOOD) also fell nearly 3%.
Analysis: The current trend of Bitcoin is similar to the previous plunge to $60,000, with $65,800 being a key support level. On March 20, according to CoinDesk, Bitcoin's current trend is highly similar to the price structure that ultimately triggered a plunge to $60,000 between November 2025 and January 2026. From a technical perspective, since hitting the bottom in early February, Bitcoin has formed a narrow, slightly upward-sloping channel between two trend lines, reminiscent of the previous sideways movement after the drop from $100,000. At that time, the market also exhibited a slow, oscillating upward crawl, ultimately leading to a false breakout where the price plummeted from around $90,000 to nearly $60,000. Technical analysis refers to this type of pattern as a "counter-trend rebound," which is a small recovery during a downward trend. The current rebound lacks explosive momentum, which is a typical signal of bull exhaustion; the market may simply be catching its breath, waiting for bears to regain strength. $65,800 is a key support level. If Bitcoin falls below the current lower channel boundary of around $65,800, it will mean that bears are regaining control; if it breaks upward out of the channel, the downward trend may lose momentum, and bulls are likely to launch a strong counterattack. Currently, Bitcoin is at a critical decision point, and the direction is still unclear. #比特币走势分析
Analysis: The current trend of Bitcoin is similar to the previous plunge to $60,000, with $65,800 being a key support level.

On March 20, according to CoinDesk, Bitcoin's current trend is highly similar to the price structure that ultimately triggered a plunge to $60,000 between November 2025 and January 2026. From a technical perspective, since hitting the bottom in early February, Bitcoin has formed a narrow, slightly upward-sloping channel between two trend lines, reminiscent of the previous sideways movement after the drop from $100,000. At that time, the market also exhibited a slow, oscillating upward crawl, ultimately leading to a false breakout where the price plummeted from around $90,000 to nearly $60,000.

Technical analysis refers to this type of pattern as a "counter-trend rebound," which is a small recovery during a downward trend. The current rebound lacks explosive momentum, which is a typical signal of bull exhaustion; the market may simply be catching its breath, waiting for bears to regain strength.

$65,800 is a key support level. If Bitcoin falls below the current lower channel boundary of around $65,800, it will mean that bears are regaining control; if it breaks upward out of the channel, the downward trend may lose momentum, and bulls are likely to launch a strong counterattack. Currently, Bitcoin is at a critical decision point, and the direction is still unclear. #比特币走势分析
Greekslive: 23,000 BTC options and 176,000 ETH options expire 23,000 BTC options expire, Put Call Ratio is 0.88, maximum pain point is $70,000, notional value is $1.6 billion. 176,000 ETH options expire, Put Call Ratio is 1.04, maximum pain point is $2,150, notional value is $370 million. This week's main expiration options' IV and RV remain basically unchanged, with BTC's main expiration IV at 50% and ETH's main expiration IV at 70%, while RV continues to decline, causing VRP to rise continuously. #ETH
Greekslive: 23,000 BTC options and 176,000 ETH options expire

23,000 BTC options expire, Put Call Ratio is 0.88, maximum pain point is $70,000, notional value is $1.6 billion. 176,000 ETH options expire, Put Call Ratio is 1.04, maximum pain point is $2,150, notional value is $370 million. This week's main expiration options' IV and RV remain basically unchanged, with BTC's main expiration IV at 50% and ETH's main expiration IV at 70%, while RV continues to decline, causing VRP to rise continuously. #ETH
PPI rose 0.7% month-on-month in February, more than double the economists' expectations. Inflation on the production side is being transmitted simultaneously from the energy and tariff directions, providing a footnote to Powell's 'inflation below expectations'. The Clarity Act is expected to be released in April, with Senator Lummis stating that the differences have narrowed to details. The most comprehensive cryptocurrency regulation bill in the U.S. is still pending, and the disagreements over stablecoin yield provisions remain unresolved. The DC Blockchain Summit and the New York Digital Asset Summit are lobbying simultaneously this week. NVIDIA announced the next-generation Feynman architecture, including the Rosa CPU, LP40 LPU, and BlueField-5. The Vera Rubin has not yet been fully rolled out, but the next-generation roadmap is already revealed. From Blackwell to Vera Rubin to Feynman, NVIDIA's product rhythm is accelerating rather than slowing down. The Linux Foundation received $12.5 million in funding to specifically strengthen the security of the open-source software supply chain. With frequent supply chain attacks, open-source security has shifted from volunteer projects to industry infrastructure investment. Global cryptocurrency card annual consumption reaches $18 billion, and the S&P index authorizes Hyperliquid perpetual contracts. Perpetual contracts are penetrating traditional financial infrastructure from the crypto-native market, and S&P's entry is a signal. #PPI #英伟达GTC大会 #永续合约DEX赛道之争 #稳定币法案 #供应链安全
PPI rose 0.7% month-on-month in February, more than double the economists' expectations. Inflation on the production side is being transmitted simultaneously from the energy and tariff directions, providing a footnote to Powell's 'inflation below expectations'.

The Clarity Act is expected to be released in April, with Senator Lummis stating that the differences have narrowed to details. The most comprehensive cryptocurrency regulation bill in the U.S. is still pending, and the disagreements over stablecoin yield provisions remain unresolved. The DC Blockchain Summit and the New York Digital Asset Summit are lobbying simultaneously this week.

NVIDIA announced the next-generation Feynman architecture, including the Rosa CPU, LP40 LPU, and BlueField-5. The Vera Rubin has not yet been fully rolled out, but the next-generation roadmap is already revealed. From Blackwell to Vera Rubin to Feynman, NVIDIA's product rhythm is accelerating rather than slowing down.

The Linux Foundation received $12.5 million in funding to specifically strengthen the security of the open-source software supply chain. With frequent supply chain attacks, open-source security has shifted from volunteer projects to industry infrastructure investment.

Global cryptocurrency card annual consumption reaches $18 billion, and the S&P index authorizes Hyperliquid perpetual contracts. Perpetual contracts are penetrating traditional financial infrastructure from the crypto-native market, and S&P's entry is a signal. #PPI #英伟达GTC大会 #永续合约DEX赛道之争 #稳定币法案 #供应链安全
The U.S. Securities and Exchange Commission has genuinely taken a step forward in pushing for 'U.S. stocks on the blockchain'. On March 19, the SEC officially approved Nasdaq's modification of exchange rules, allowing a pilot program for trading certain securities in a tokenized form within the exchange. This means that some stocks and ETFs can be settled and cleared directly in the form of 'digital shares' on the blockchain without changing existing trading habits. According to the approved plan, eligible stocks and ETFs can exist in Nasdaq's existing order book in two forms: 'traditional stocks' and 'on-chain tokens': - They still use the same matching system and order priority; - Enjoy completely consistent shareholder rights (voting, dividends, etc.); - The only difference is: after trading, it follows either the traditional clearing process or the settlement channel on the blockchain. On a technical level, this pilot is based on the tokenization plan of DTC (Depository Trust Company). Investors can choose whether to use tokenized settlement when placing orders, and after the trade is matched, DTC is responsible for completing the corresponding bookkeeping and processing on-chain. Nasdaq also emphasizes that aside from the change in settlement form: - Trading rules remain unchanged, - Market data standards remain unchanged, - Fee structures remain unchanged, Regulatory and compliance requirements are fully incorporated within the existing securities law framework. For the traditional market, this step is more like an 'underlying upgrade' under the existing system: it does not change the rules of the game, but simply shifts the bookkeeping method from centralized accounts to partially on-chain. Many industry opinions believe this marks the formal entry of 'U.S. stocks on the blockchain' from the conceptual stage into the stage of regulatory implementation and infrastructure transformation, which could reshape the underlying processes of securities issuance, trading, and settlement in the future. #SEC澄清加密资产分类 #美联储3月议息会议 #比特币突破7.5万美元 #纳斯达克加密ETF扩容
The U.S. Securities and Exchange Commission has genuinely taken a step forward in pushing for 'U.S. stocks on the blockchain'.

On March 19, the SEC officially approved Nasdaq's modification of exchange rules, allowing a pilot program for trading certain securities in a tokenized form within the exchange. This means that some stocks and ETFs can be settled and cleared directly in the form of 'digital shares' on the blockchain without changing existing trading habits.

According to the approved plan, eligible stocks and ETFs can exist in Nasdaq's existing order book in two forms: 'traditional stocks' and 'on-chain tokens':
- They still use the same matching system and order priority;
- Enjoy completely consistent shareholder rights (voting, dividends, etc.);
- The only difference is: after trading, it follows either the traditional clearing process or the settlement channel on the blockchain.

On a technical level, this pilot is based on the tokenization plan of DTC (Depository Trust Company). Investors can choose whether to use tokenized settlement when placing orders, and after the trade is matched, DTC is responsible for completing the corresponding bookkeeping and processing on-chain.

Nasdaq also emphasizes that aside from the change in settlement form:
- Trading rules remain unchanged,
- Market data standards remain unchanged,
- Fee structures remain unchanged,

Regulatory and compliance requirements are fully incorporated within the existing securities law framework.

For the traditional market, this step is more like an 'underlying upgrade' under the existing system: it does not change the rules of the game, but simply shifts the bookkeeping method from centralized accounts to partially on-chain.

Many industry opinions believe this marks the formal entry of 'U.S. stocks on the blockchain' from the conceptual stage into the stage of regulatory implementation and infrastructure transformation, which could reshape the underlying processes of securities issuance, trading, and settlement in the future. #SEC澄清加密资产分类 #美联储3月议息会议 #比特币突破7.5万美元 #纳斯达克加密ETF扩容
OpenClaw Founder: Any "encrypted emails" impersonating OpenClaw are scams OpenClaw founder Peter Steinberger posted on X platform to remind that any emails claiming to be related to OpenClaw and involving encrypted content are scams. OpenClaw is an open-source, non-commercial project and will not contact users in this way. It is recommended to use only official channels and to be wary of phishing and scams conducted by third parties under the guise of "commercial packaging." #OpenClaw开源自主AI代理的推出 #英伟达GTC大会
OpenClaw Founder: Any "encrypted emails" impersonating OpenClaw are scams

OpenClaw founder Peter Steinberger posted on X platform to remind that any emails claiming to be related to OpenClaw and involving encrypted content are scams. OpenClaw is an open-source, non-commercial project and will not contact users in this way. It is recommended to use only official channels and to be wary of phishing and scams conducted by third parties under the guise of "commercial packaging." #OpenClaw开源自主AI代理的推出 #英伟达GTC大会
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