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US cryptocurrency advocacy movement surpasses one million supporters
The United States-based cryptocurrency industry advocacy movement Stand With Crypto has reached a major milestone, surpassing one million active supporters.
Coinbase CEO Brian Armstrong made the announcement on June 5, highlighting the size of the number, suggesting it is an important constituency for policymakers.
He noted that after the White House issued a veto threat, 600,000 people joined the advocacy movement, showing the unity and rapid growth of community members under political pressure.
Armstrong also noted that cryptocurrency advocacy transcends party lines and that there is currently strong momentum in supportive cryptocurrency policies in the U.S. His comments were directed at Republican-proposed legislation that the Biden administration is trying to block, which would allow banks to custody digital assets for their customers.
Coinbase CEO Brian Armstrong made the announcement on June 5, highlighting the size of the number, suggesting it is an important constituency for policymakers.
He noted that after the White House issued a veto threat, 600,000 people joined the advocacy movement, showing the unity and rapid growth of community members under political pressure.
Armstrong also noted that cryptocurrency advocacy transcends party lines and that there is currently strong momentum in supportive cryptocurrency policies in the U.S. His comments were directed at Republican-proposed legislation that the Biden administration is trying to block, which would allow banks to custody digital assets for their customers.
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$ETH
$ETH strikes again!
Ethereum has recently rebounded strongly, and market confidence has warmed. With the continuous development of DeFi, NFTs, and Layer 2 solutions, ETH is not just a cryptocurrency, but a huge ecosystem.
Are you bullish, or are you waiting to buy at a lower point?
#Ethereum #ETH #加密货币挖矿 #区块链开发 #Web3 #数字资产
$ETH strikes again!
Ethereum has recently rebounded strongly, and market confidence has warmed. With the continuous development of DeFi, NFTs, and Layer 2 solutions, ETH is not just a cryptocurrency, but a huge ecosystem.
Are you bullish, or are you waiting to buy at a lower point?
#Ethereum #ETH #加密货币挖矿 #区块链开发 #Web3 #数字资产
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The market remains cautious: Why haven't positive news activated the cryptocurrency market?
Recently, there have been high-level calls signaling positive developments, and the outside world generally views the prospects for global economic cooperation favorably. The market once expected this to drive cryptocurrencies upward; however, the overall trend still appears flat, with mainstream currencies like $BTC continuing to consolidate.
Investors are currently more focused on actual measures, such as policy adjustments, market openings, and macroeconomic data, rather than just statements or optimistic sentiments. Therefore, the market is still in a wait-and-see state in the short term.
Additionally, uncertainty regarding interest rate policies and economic growth continues to influence market sentiment. Only when more substantial positive developments materialize is it likely to drive funds back into the digital asset space.
#加密货币
#数字资产
#市场观察
#投资分析
#比特币
Recently, there have been high-level calls signaling positive developments, and the outside world generally views the prospects for global economic cooperation favorably. The market once expected this to drive cryptocurrencies upward; however, the overall trend still appears flat, with mainstream currencies like $BTC continuing to consolidate.
Investors are currently more focused on actual measures, such as policy adjustments, market openings, and macroeconomic data, rather than just statements or optimistic sentiments. Therefore, the market is still in a wait-and-see state in the short term.
Additionally, uncertainty regarding interest rate policies and economic growth continues to influence market sentiment. Only when more substantial positive developments materialize is it likely to drive funds back into the digital asset space.
#加密货币
#数字资产
#市场观察
#投资分析
#比特币
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Tom Emmer Proposes New Legislation Aimed at Providing Regulatory Clarity for Cryptocurrency
Recently, U.S. Congressman Tom Emmer introduced new legislation aimed at providing a clearer regulatory framework for the digital asset industry and services.
On May 21, Emmer reintroduced the Blockchain Regulatory Certainty Act (BRCA), a bipartisan bill co-led by Congressman Ritchie Torres.
The core content of the bill is that if cryptocurrency developers and service providers do not hold consumers' funds, they should not be classified as money transmitters under current regulations.
This legislative framework aims to provide legal certainty for non-custodial service blockchain developers, miners, validators, and cryptocurrency wallet providers, addressing concerns that unclear regulations could push U.S. crypto innovation overseas.
Emmer warned that delaying the regulation of the cryptocurrency industry would increase the risk of technological outflow and harm the interests of U.S. investors and innovators. Torres agreed, stating that clear regulations are key to retaining industry talent and preventing technological outflow due to regulatory delays.
It is worth mentioning that the bill has received support from several industry organizations, including Coin Center and the DeFi Education Fund. In fact, Emmer had proposed a similar bill as early as 2018, and this revision reflects a continued push for regulatory optimization.
On the same day, the Texas Bitcoin Strategic Reserve Bill (SB 21) passed its third reading (101:42) and has been submitted for the governor's signature. This bill establishes reserves as official investment tools, authorizing the state government to actively manage high market capitalization crypto assets, aimed at enhancing financial security and economic resilience.
Overall, whether at the federal level for improving the regulatory framework or the proactive positioning of state governments regarding crypto assets, U.S. cryptocurrency policy is being rapidly implemented.
These initiatives signify that the future development of cryptocurrency in the U.S. will become more standardized and institutionalized, providing clearer guidance and a more stable operating environment for industry participants.
Do you think that as the regulatory framework for cryptocurrency gradually clarifies, a more compliant and open crypto ecosystem will take shape?
#加密货币监管 #区块链法案 #美国国会立法 #数字资产
Recently, U.S. Congressman Tom Emmer introduced new legislation aimed at providing a clearer regulatory framework for the digital asset industry and services.
On May 21, Emmer reintroduced the Blockchain Regulatory Certainty Act (BRCA), a bipartisan bill co-led by Congressman Ritchie Torres.
The core content of the bill is that if cryptocurrency developers and service providers do not hold consumers' funds, they should not be classified as money transmitters under current regulations.
This legislative framework aims to provide legal certainty for non-custodial service blockchain developers, miners, validators, and cryptocurrency wallet providers, addressing concerns that unclear regulations could push U.S. crypto innovation overseas.
Emmer warned that delaying the regulation of the cryptocurrency industry would increase the risk of technological outflow and harm the interests of U.S. investors and innovators. Torres agreed, stating that clear regulations are key to retaining industry talent and preventing technological outflow due to regulatory delays.
It is worth mentioning that the bill has received support from several industry organizations, including Coin Center and the DeFi Education Fund. In fact, Emmer had proposed a similar bill as early as 2018, and this revision reflects a continued push for regulatory optimization.
On the same day, the Texas Bitcoin Strategic Reserve Bill (SB 21) passed its third reading (101:42) and has been submitted for the governor's signature. This bill establishes reserves as official investment tools, authorizing the state government to actively manage high market capitalization crypto assets, aimed at enhancing financial security and economic resilience.
Overall, whether at the federal level for improving the regulatory framework or the proactive positioning of state governments regarding crypto assets, U.S. cryptocurrency policy is being rapidly implemented.
These initiatives signify that the future development of cryptocurrency in the U.S. will become more standardized and institutionalized, providing clearer guidance and a more stable operating environment for industry participants.
Do you think that as the regulatory framework for cryptocurrency gradually clarifies, a more compliant and open crypto ecosystem will take shape?
#加密货币监管 #区块链法案 #美国国会立法 #数字资产
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Treasury Secretary Bessent: In the coming years, stablecoins will drive $2 trillion in government debt demand
Recently, U.S. Treasury Secretary Scott Bessent stated at a hearing that the growth of stablecoins in the coming years could create $2 trillion in government debt demand, further solidifying the dollar's critical position in the digital asset industry.
At the House Financial Services Committee hearing, Bessent emphasized the financial relevance of digital assets to the overall economy. He noted that the U.S. must take a leadership role in establishing global cryptocurrency standards to guide industry innovation and allow the country to benefit from it. He also pointed out that the integration of stablecoins and blockchain-based financial products with the U.S. Treasury market is a vivid example of how national economic interests can be supported.
Currently, stablecoin issuers are holding a significant amount of U.S. Treasury securities. For instance, as of the end of March, the largest stablecoin issuer, Tether (USDT), had nearly $120 billion in short-term government bonds in its reserves. The issuing company of USDC, Circle, also reported that it holds more than $22 billion in Treasury securities.
Therefore, as the circulation and global demand for stablecoins increase, this emerging demand could bring new resilience and liquidity to the Treasury market, especially amid concerns about foreign demand for U.S. debt.
This is not coincidental; Congress is also considering some new legislation aimed at better regulating the issuance of stablecoins. These proposals require stablecoin issuers to fully back their tokens with high-quality liquid assets, such as short-term government bonds. However, due to bipartisan disagreements, the progress of these bills may be hindered, and some lawmakers have even withdrawn their support for the legislation, citing the need to strengthen investor protection measures.
If these bills can pass smoothly, they could incorporate fiscal investments in the stablecoin space into a more systematic framework, further enhancing trust in stablecoins, while also solidifying the dollar in the digital market.
What are your thoughts on this trend? Do you really believe that the growth of stablecoins will drive demand for government bonds? Leave your opinions and views in the comments section!
#稳定币 #国债 #数字资产
Recently, U.S. Treasury Secretary Scott Bessent stated at a hearing that the growth of stablecoins in the coming years could create $2 trillion in government debt demand, further solidifying the dollar's critical position in the digital asset industry.
At the House Financial Services Committee hearing, Bessent emphasized the financial relevance of digital assets to the overall economy. He noted that the U.S. must take a leadership role in establishing global cryptocurrency standards to guide industry innovation and allow the country to benefit from it. He also pointed out that the integration of stablecoins and blockchain-based financial products with the U.S. Treasury market is a vivid example of how national economic interests can be supported.
Currently, stablecoin issuers are holding a significant amount of U.S. Treasury securities. For instance, as of the end of March, the largest stablecoin issuer, Tether (USDT), had nearly $120 billion in short-term government bonds in its reserves. The issuing company of USDC, Circle, also reported that it holds more than $22 billion in Treasury securities.
Therefore, as the circulation and global demand for stablecoins increase, this emerging demand could bring new resilience and liquidity to the Treasury market, especially amid concerns about foreign demand for U.S. debt.
This is not coincidental; Congress is also considering some new legislation aimed at better regulating the issuance of stablecoins. These proposals require stablecoin issuers to fully back their tokens with high-quality liquid assets, such as short-term government bonds. However, due to bipartisan disagreements, the progress of these bills may be hindered, and some lawmakers have even withdrawn their support for the legislation, citing the need to strengthen investor protection measures.
If these bills can pass smoothly, they could incorporate fiscal investments in the stablecoin space into a more systematic framework, further enhancing trust in stablecoins, while also solidifying the dollar in the digital market.
What are your thoughts on this trend? Do you really believe that the growth of stablecoins will drive demand for government bonds? Leave your opinions and views in the comments section!
#稳定币 #国债 #数字资产
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Risk Control Guide
Attention ⚠️ #WEEX Exchange Risk Control Upgrade:
WEEX has recently upgraded its risk control system, further enhancing the protection measures for user accounts. The platform's security is getting higher, and normal withdrawals are not an issue. If risk control is triggered, please email to appeal in a timely manner; violations will be rolled back. #数字资产 #weex #风控指南
WEEX has recently upgraded its risk control system, further enhancing the protection measures for user accounts. The platform's security is getting higher, and normal withdrawals are not an issue. If risk control is triggered, please email to appeal in a timely manner; violations will be rolled back. #数字资产 #weex #风控指南
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Real estate tokenization services officially launched on Polygon!
Real world asset (RWA) tokenization trading platform -- RealEstate.Exchange (REX) has launched real estate tokenization services on the Polygon network and established a compliant secondary market to facilitate fractional real estate investments for retail investors, aiming to address liquidity challenges in the industry.
Meanwhile, the REX platform will launch two luxury properties in Miami, Florida, including The Legacy Hotel & Residences, a building with 529 units managed by FraXion, and a residential complex with 38 units managed by Trade Estate.
Choosing Polygon is no coincidence. Polygon has become REX's preferred blockchain due to its low transaction fees, fast settlement, and high security. Currently, Polygon has a daily trading volume exceeding $1 billion, ranking 13th in public chain trading volume.
By breaking down properties into fractionalized tokenized assets, investors can trade property shares as easily as buying and selling cryptocurrencies, eliminating the need to wait for lengthy property transfer processes. DigitShares CEO Claus Skaaning revealed that in addition to the first two projects, 5-6 more properties are in preparation for launch, covering various types including residential, commercial, and luxury real estate.
Furthermore, in terms of compliance, REX has obtained operational permission through Texture Capital registered with the US SEC, and is currently applying for licenses under the EU MiCA and MiFID frameworks, with future plans to expand to the UAE and South Africa markets. Its parent company, DigitShares, has supported tokenized real estate transactions worth $100-200 million since 2018, making it quite experienced.
Currently, the RWA tokenization market is rapidly expanding, with a scale reaching $62 billion, while the number of real estate tokens leads with 595 types. Mantra Finance CEO predicts that on-chain real estate assets may reach trillions of dollars in the future.
In summary, the launch of REX not only opens the door for retail investors to high-end real estate investments but also marks an important step for blockchain technology in transforming traditional financial infrastructure.
With regions like the UAE actively embracing tokenized real estate and the introduction of new EU regulations, 2025 is likely to be a key year for RWA explosion.
Would you consider investing in tokenized real estate? Do you think property tokenization can effectively solve real estate liquidity issues and lower investment barriers?
#房地产代币化 #Polygon #RWA #数字资产
Real world asset (RWA) tokenization trading platform -- RealEstate.Exchange (REX) has launched real estate tokenization services on the Polygon network and established a compliant secondary market to facilitate fractional real estate investments for retail investors, aiming to address liquidity challenges in the industry.
Meanwhile, the REX platform will launch two luxury properties in Miami, Florida, including The Legacy Hotel & Residences, a building with 529 units managed by FraXion, and a residential complex with 38 units managed by Trade Estate.
Choosing Polygon is no coincidence. Polygon has become REX's preferred blockchain due to its low transaction fees, fast settlement, and high security. Currently, Polygon has a daily trading volume exceeding $1 billion, ranking 13th in public chain trading volume.
By breaking down properties into fractionalized tokenized assets, investors can trade property shares as easily as buying and selling cryptocurrencies, eliminating the need to wait for lengthy property transfer processes. DigitShares CEO Claus Skaaning revealed that in addition to the first two projects, 5-6 more properties are in preparation for launch, covering various types including residential, commercial, and luxury real estate.
Furthermore, in terms of compliance, REX has obtained operational permission through Texture Capital registered with the US SEC, and is currently applying for licenses under the EU MiCA and MiFID frameworks, with future plans to expand to the UAE and South Africa markets. Its parent company, DigitShares, has supported tokenized real estate transactions worth $100-200 million since 2018, making it quite experienced.
Currently, the RWA tokenization market is rapidly expanding, with a scale reaching $62 billion, while the number of real estate tokens leads with 595 types. Mantra Finance CEO predicts that on-chain real estate assets may reach trillions of dollars in the future.
In summary, the launch of REX not only opens the door for retail investors to high-end real estate investments but also marks an important step for blockchain technology in transforming traditional financial infrastructure.
With regions like the UAE actively embracing tokenized real estate and the introduction of new EU regulations, 2025 is likely to be a key year for RWA explosion.
Would you consider investing in tokenized real estate? Do you think property tokenization can effectively solve real estate liquidity issues and lower investment barriers?
#房地产代币化 #Polygon #RWA #数字资产
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CoinShares report: The Fed's hawkish comments and CPI data triggered a weekly outflow of $415 million in spot ETFs
According to the latest weekly data from CoinShares, after the US election, US spot ETFs experienced significant outflows for the first time after a record 19 consecutive weeks of inflows, totaling US$415 million. The main reason for the report analysis is that the hawkish remarks of Federal Reserve Chairman Powell and the US CPI inflation data exceeded expectations, leading to higher market expectations for interest rates.
Analysis shows that the largest outflow of funds came from the United States, reaching US$464 million; while there was no significant outflow of funds in the cryptocurrency derivatives markets of other countries. In contrast, Germany, Switzerland and Canada saw inflows of $21 million, $12.5 million and $10.2 million respectively last week.
Among them, Bitcoin is extremely sensitive to market interest rate expectations. The amount of capital outflow reached 430 million US dollars last week alone, and it has also become the main target of investors' withdrawal. It is worth noting that Bitcoin short products did not attract corresponding capital inflows, but instead saw outflows of US$9.6 million.
Among all assets, Solana had the largest inflows last week, totaling $8.9 million, followed by XRP and Sui, with inflows of $8.5 million and $6 million, respectively. Blockchain stocks also saw inflows of $20.8 million, bringing year-to-date inflows to $220 million.
In summary, the spot ETF market experienced significant outflows following the Fed’s hawkish comments and the CPI data that exceeded expectations. Bitcoin, as an asset that is extremely sensitive to interest rate changes, has been the first to be affected.
However, despite short-term market volatility, long-term trends still need further observation. Investors need to be more cautious and pay close attention to market dynamics and macroeconomic indicators.
💬What do you think about the capital outflow phenomenon in the US spot ETF market? Are you inclined to be optimistic or cautious about future market trends? See the comments section!
#美联储 #CPI数据 #数字资产 #资金流动
According to the latest weekly data from CoinShares, after the US election, US spot ETFs experienced significant outflows for the first time after a record 19 consecutive weeks of inflows, totaling US$415 million. The main reason for the report analysis is that the hawkish remarks of Federal Reserve Chairman Powell and the US CPI inflation data exceeded expectations, leading to higher market expectations for interest rates.
Analysis shows that the largest outflow of funds came from the United States, reaching US$464 million; while there was no significant outflow of funds in the cryptocurrency derivatives markets of other countries. In contrast, Germany, Switzerland and Canada saw inflows of $21 million, $12.5 million and $10.2 million respectively last week.
Among them, Bitcoin is extremely sensitive to market interest rate expectations. The amount of capital outflow reached 430 million US dollars last week alone, and it has also become the main target of investors' withdrawal. It is worth noting that Bitcoin short products did not attract corresponding capital inflows, but instead saw outflows of US$9.6 million.
Among all assets, Solana had the largest inflows last week, totaling $8.9 million, followed by XRP and Sui, with inflows of $8.5 million and $6 million, respectively. Blockchain stocks also saw inflows of $20.8 million, bringing year-to-date inflows to $220 million.
In summary, the spot ETF market experienced significant outflows following the Fed’s hawkish comments and the CPI data that exceeded expectations. Bitcoin, as an asset that is extremely sensitive to interest rate changes, has been the first to be affected.
However, despite short-term market volatility, long-term trends still need further observation. Investors need to be more cautious and pay close attention to market dynamics and macroeconomic indicators.
💬What do you think about the capital outflow phenomenon in the US spot ETF market? Are you inclined to be optimistic or cautious about future market trends? See the comments section!
#美联储 #CPI数据 #数字资产 #资金流动
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[CCTV New Cultural and Creative Digital Collection Platform] CCTV Yuezhong General Manager Qin Zhiyong talks about the planning and operation of CCTV PFP project
[Exploration of domestic PFP operations. This article is a record of a video speech. The content is long. If you are interested, you can go to the official account to watch the original video. 】
Hello everyone, I am Qin Zhiyong from Zhongchuan Yuezhong. Today I want to talk to you about what PFP is, hoping to use an easy-to-understand method so that everyone can better understand such a cultural commodity and its business model.
1. What is PFP?
In layman's terms, PFP is the earliest copyrighted social avatar cast on the blockchain that originated in the United States. Why was such a project born? Our current young people, as well as our current society, do a lot of socializing on the Internet, especially on social platforms. We have several ways to reflect our identity on social platforms. For example, we know that it is called Blue V certification and Big V certification. It is a way of expression, and the other is avatar.
Hello everyone, I am Qin Zhiyong from Zhongchuan Yuezhong. Today I want to talk to you about what PFP is, hoping to use an easy-to-understand method so that everyone can better understand such a cultural commodity and its business model.
1. What is PFP?
In layman's terms, PFP is the earliest copyrighted social avatar cast on the blockchain that originated in the United States. Why was such a project born? Our current young people, as well as our current society, do a lot of socializing on the Internet, especially on social platforms. We have several ways to reflect our identity on social platforms. For example, we know that it is called Blue V certification and Big V certification. It is a way of expression, and the other is avatar.
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🚀 Powell's speech follow-up: Bitcoin attracted $543 million, with the largest weekly inflow! 🌟
🚀 After Powell's speech at Jackson Hole, Bitcoin's weekly inflow soared to $543 million, becoming the market leader! Ethereum, on the other hand, suffered an outflow of nearly $36 million. This week was really a mixed bag!
💬 As soon as Fed Chairman Powell's dovish remarks came out, digital asset investment products attracted $533 million in inflows, the largest inflow in more than a month. Although trading volume has declined, the total trading volume in the past seven days reached $9 billion!
📊 According to CoinShares' Digital Asset Fund Flow Weekly Report, Bitcoin's strong performance highlights its sensitivity to interest rate expectations. Although the Ethereum spot ETF has attracted hundreds of millions of dollars in inflows since its launch a month ago, Ethereum has seen an outflow of nearly $36 million this week, as well as an outflow of $189 million from the Grayscale Ethereum Trust this week.
🌍 The geographical distribution of capital inflows is also interesting. The United States led with a net inflow of $498 million in the past week, followed by Hong Kong and Switzerland, which received net inflows of $15.9 million and $13.9 million, respectively. Germany and Sweden saw outflows of $8.9 million and $1.2 million, respectively.
Market Interpretation:
📈 The market responded positively to Powell's expectations of loose monetary policy, and Bitcoin's weekly inflows soared to $543 million, highlighting its appeal as a safe-haven asset.
📉 Ethereum's $36 million in funds and $189 million in outflows from the Grayscale Ethereum Trust this week may reflect the market's short-term uncertainty about Ethereum and its ETFs, or investors' wait-and-see attitude towards Ethereum's prospects in the short term.
🌐 In the geographical distribution of capital inflows, the US market's net inflow of $498 million indicated continued enthusiasm for Bitcoin, while outflows from Germany and Sweden hinted at differences in confidence among investors in different regions.
💡Do you think this wave of capital inflows into Bitcoin is the beginning of a long-term trend? How long will Ethereum's capital outflows last? Which asset do you think is the most promising in the cryptocurrency market? Share your thoughts in the comments!
#比特币 #以太坊 #数字资产 #市场动态 #投资趋势
🚀 After Powell's speech at Jackson Hole, Bitcoin's weekly inflow soared to $543 million, becoming the market leader! Ethereum, on the other hand, suffered an outflow of nearly $36 million. This week was really a mixed bag!
💬 As soon as Fed Chairman Powell's dovish remarks came out, digital asset investment products attracted $533 million in inflows, the largest inflow in more than a month. Although trading volume has declined, the total trading volume in the past seven days reached $9 billion!
📊 According to CoinShares' Digital Asset Fund Flow Weekly Report, Bitcoin's strong performance highlights its sensitivity to interest rate expectations. Although the Ethereum spot ETF has attracted hundreds of millions of dollars in inflows since its launch a month ago, Ethereum has seen an outflow of nearly $36 million this week, as well as an outflow of $189 million from the Grayscale Ethereum Trust this week.
🌍 The geographical distribution of capital inflows is also interesting. The United States led with a net inflow of $498 million in the past week, followed by Hong Kong and Switzerland, which received net inflows of $15.9 million and $13.9 million, respectively. Germany and Sweden saw outflows of $8.9 million and $1.2 million, respectively.
Market Interpretation:
📈 The market responded positively to Powell's expectations of loose monetary policy, and Bitcoin's weekly inflows soared to $543 million, highlighting its appeal as a safe-haven asset.
📉 Ethereum's $36 million in funds and $189 million in outflows from the Grayscale Ethereum Trust this week may reflect the market's short-term uncertainty about Ethereum and its ETFs, or investors' wait-and-see attitude towards Ethereum's prospects in the short term.
🌐 In the geographical distribution of capital inflows, the US market's net inflow of $498 million indicated continued enthusiasm for Bitcoin, while outflows from Germany and Sweden hinted at differences in confidence among investors in different regions.
💡Do you think this wave of capital inflows into Bitcoin is the beginning of a long-term trend? How long will Ethereum's capital outflows last? Which asset do you think is the most promising in the cryptocurrency market? Share your thoughts in the comments!
#比特币 #以太坊 #数字资产 #市场动态 #投资趋势
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FOMC hawkish stance triggers massive Bitcoin outflow: $621 million lost from investment products
The digital asset market experienced significant outflows after the Federal Open Market Committee (FOMC)’s hawkish stance exceeded market expectations.
The FOMC’s hawkish stance forced investors to reduce their holdings of fixed supply assets, especially Bitcoin, resulting in a total outflow of $600 million from digital asset investment products after the meeting, the largest single-week outflow since March 22, 2024.
Moreover, the recent price decline has further fueled the bearish sentiment, as evidenced by the decline in total assets under management (AuM), which fell from over $100 billion to $94 billion this week.
The FOMC’s hawkish stance forced investors to reduce their holdings of fixed supply assets, especially Bitcoin, resulting in a total outflow of $600 million from digital asset investment products after the meeting, the largest single-week outflow since March 22, 2024.
Moreover, the recent price decline has further fueled the bearish sentiment, as evidenced by the decline in total assets under management (AuM), which fell from over $100 billion to $94 billion this week.
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NFT: Bubble or Future?
Are NFTs just a fleeting bubble or a future opportunity in the digital age? Today, I’d like to share my views with you.
NFTs, or Non-Fungible Tokens, are essentially a way to certify digital assets based on blockchain technology. They provide a unique “digital identity” to digital works, addressing the long-standing issues of copyright and ownership in the digital realm. Each NFT carries specific digital content and information, whether it’s an artwork, music, video, or in-game items, all of which can be uniquely identified and traced for ownership through NFTs. This provides creators and investors with a new mode of value transmission and trading.
⭐️ NFTs offer creators a completely new mechanism for copyright protection and revenue distribution, helping to resolve issues of infringement and profit-sharing in the traditional content industry.
⭐️ NFTs can be used to build decentralized identity systems, helping users securely manage personal data and digital identities across different platforms and applications. Users can prove their identity, educational qualifications, professional credentials, etc., through NFTs without needing to repeatedly submit various proof materials, enhancing the efficiency and security of identity verification.
⭐️ NFTs can serve as virtual assets on social platforms, enhancing users’ sense of participation and belonging, and promoting community formation and development.
From the above, it is clear that NFTs do have practical application scenarios, but it is also undeniable that a bubble has formed during the development of the NFT market.
In 2021, the NFT market experienced explosive growth, with artist Beeple's work “Everydays: The First 5000 Days” selling for $69.3 million at Christie’s auction house, marking a milestone event in NFT history.
After that, a large amount of capital and speculators poured in, with many projects lacking real value support, relying solely on hype and concepts to attract investors, leading to a significant market bubble. Entering 2022, with the overall downturn in the cryptocurrency market, tightening regulatory policies, and a decline in user interest, the heat of the NFT market began to cool down, trading volumes drastically shrank, and many once-thriving NFT platforms gradually declined.
The essence of this chaos can be attributed to the lagging regulations and laws following the emergence of new phenomena.
#NFT #数字资产 #数字产权
Are NFTs just a fleeting bubble or a future opportunity in the digital age? Today, I’d like to share my views with you.
NFTs, or Non-Fungible Tokens, are essentially a way to certify digital assets based on blockchain technology. They provide a unique “digital identity” to digital works, addressing the long-standing issues of copyright and ownership in the digital realm. Each NFT carries specific digital content and information, whether it’s an artwork, music, video, or in-game items, all of which can be uniquely identified and traced for ownership through NFTs. This provides creators and investors with a new mode of value transmission and trading.
⭐️ NFTs offer creators a completely new mechanism for copyright protection and revenue distribution, helping to resolve issues of infringement and profit-sharing in the traditional content industry.
⭐️ NFTs can be used to build decentralized identity systems, helping users securely manage personal data and digital identities across different platforms and applications. Users can prove their identity, educational qualifications, professional credentials, etc., through NFTs without needing to repeatedly submit various proof materials, enhancing the efficiency and security of identity verification.
⭐️ NFTs can serve as virtual assets on social platforms, enhancing users’ sense of participation and belonging, and promoting community formation and development.
From the above, it is clear that NFTs do have practical application scenarios, but it is also undeniable that a bubble has formed during the development of the NFT market.
In 2021, the NFT market experienced explosive growth, with artist Beeple's work “Everydays: The First 5000 Days” selling for $69.3 million at Christie’s auction house, marking a milestone event in NFT history.
After that, a large amount of capital and speculators poured in, with many projects lacking real value support, relying solely on hype and concepts to attract investors, leading to a significant market bubble. Entering 2022, with the overall downturn in the cryptocurrency market, tightening regulatory policies, and a decline in user interest, the heat of the NFT market began to cool down, trading volumes drastically shrank, and many once-thriving NFT platforms gradually declined.
The essence of this chaos can be attributed to the lagging regulations and laws following the emergence of new phenomena.
#NFT #数字资产 #数字产权
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SWIFT paves the way for tokenized asset transactions, moving towards a new future of free financial transactions!
SWIFT, the giant of the global banking communication network, recently announced a major plan to integrate digital assets. This is not only a technological advancement, but also an innovation in the financial field.
SWIFT revealed on social media X on September 11 that they are building a platform that allows member banks to trade traditional currencies and emerging crypto assets on their network. This may mean that in the near future, interbank transactions will cover the fiat currencies we are familiar with, as well as cryptocurrencies.
@swiftcommunity ｜ Source: X
SWIFT, a cooperative founded in 1973 and headquartered in Belgium, is jointly owned by banks and other financial institutions around the world that use its services. Its move is undoubtedly a bold exploration of the financial technology field.
SWIFT revealed on social media X on September 11 that they are building a platform that allows member banks to trade traditional currencies and emerging crypto assets on their network. This may mean that in the near future, interbank transactions will cover the fiat currencies we are familiar with, as well as cryptocurrencies.
@swiftcommunity ｜ Source: X
SWIFT, a cooperative founded in 1973 and headquartered in Belgium, is jointly owned by banks and other financial institutions around the world that use its services. Its move is undoubtedly a bold exploration of the financial technology field.
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📢 Dubai Court Sets New Legal Precedent for Cryptocurrency Wage Payments! 🌐
📊The Dubai Court of First Instance has just set a unique precedent by recognizing that cryptocurrency is legal for wage payments in contracts! This is a big step forward for digital asset justice in the United Arab Emirates.
🔄Just last year, the court dismissed the lawsuit over cryptocurrency valuation issues. But this year, the court's attitude seems to have ushered in a UAE-wide change, marking an important milestone in the United Arab Emirates' judicial approach to digital assets. This shift is thanks to Irina Heaver, a partner at UAE law firm NeosLegal, who has deep insights into the case.
📖The case arose when an employee sued his employer for not receiving the 5,250 EcoWatt tokens required by the contract. In 2023, although the court recognized the digital asset portion of the employee's salary, it still did not enforce the cryptocurrency payment. However, in 2024, the court ruled in favor of the employee, requiring the employer to pay the cryptocurrency salary as required by the contract without converting it to fiat currency.
🚀Spring of Cryptocurrency? Heaver believes that this is not just a victory for a case, but a sign that the courts are increasingly accepting of cryptocurrencies in contracts and the changes in financial transactions in the Web3 economy.
🌐 Not only Dubai, but the world is paying attention to this case. In addition, with the launch of Bitcoin and Ethereum ETFs, there are innovative software like FinTax that simplifies tax declarations for crypto assets, which are promoting the popularization of digital assets and the simplification of tax declarations.
🤔 What do you think? Will cryptocurrency payroll become the new normal? Will this become a new use case for crypto asset rulings and lead a new pattern in the global financial market? Tell me what you think in the comments!
#迪拜 #加密货币工资 #司法突破 #Web3经济 #数字资产
📊The Dubai Court of First Instance has just set a unique precedent by recognizing that cryptocurrency is legal for wage payments in contracts! This is a big step forward for digital asset justice in the United Arab Emirates.
🔄Just last year, the court dismissed the lawsuit over cryptocurrency valuation issues. But this year, the court's attitude seems to have ushered in a UAE-wide change, marking an important milestone in the United Arab Emirates' judicial approach to digital assets. This shift is thanks to Irina Heaver, a partner at UAE law firm NeosLegal, who has deep insights into the case.
📖The case arose when an employee sued his employer for not receiving the 5,250 EcoWatt tokens required by the contract. In 2023, although the court recognized the digital asset portion of the employee's salary, it still did not enforce the cryptocurrency payment. However, in 2024, the court ruled in favor of the employee, requiring the employer to pay the cryptocurrency salary as required by the contract without converting it to fiat currency.
🚀Spring of Cryptocurrency? Heaver believes that this is not just a victory for a case, but a sign that the courts are increasingly accepting of cryptocurrencies in contracts and the changes in financial transactions in the Web3 economy.
🌐 Not only Dubai, but the world is paying attention to this case. In addition, with the launch of Bitcoin and Ethereum ETFs, there are innovative software like FinTax that simplifies tax declarations for crypto assets, which are promoting the popularization of digital assets and the simplification of tax declarations.
🤔 What do you think? Will cryptocurrency payroll become the new normal? Will this become a new use case for crypto asset rulings and lead a new pattern in the global financial market? Tell me what you think in the comments!
#迪拜 #加密货币工资 #司法突破 #Web3经济 #数字资产
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The NFT Decline, the Rise of Digital Collectibles: Revaluation of Value or New Targets for Speculation?
As the international NFT market's trading volume plummets by 90%, domestic digital collectibles platforms are engaging in even crazier capital games.
A certain platform's latest release, "The Savior," dynamic digital collectibles, exposes the industry's hidden rules: to gain priority purchasing qualifications, one must hold 10 pieces of the platform's worthless collectibles, the so-called "empowerment" is actually a series of harvesting traps.
▶️ Hunger Games Under Platform Rules
Before the sale of "The Savior," it was mandatory to hold 10 unsold digital collectibles with an average price of 200 yuan; previously, during similar sales, certain users were forced to buy unwanted collectibles like "Dunhuang Flying Apsaras" and "Twelve Zodiac Signs" to qualify for purchasing.
The secondary market has seen the emergence of a "qualification agency" gray market, with purchasing fees as high as 200% of the sale price.
The so-called empowerment = small workshop-style airdrop: a certain zodiac digital collectible promised "offline exhibition tickets" which were actually 30 yuan vouchers for a VR experience center in a county-level shopping mall.
▶️ The Bubble Logic Behind Airdrop Economics
A certain platform's operations revealed industry tricks:
"Use 9.9 yuan airdrops to attract newcomers → Issue 999 yuan empowering collectibles to lock in users → Launch priority purchase rights worth 10,000 yuan to stimulate reinvestment."
Recently, a certain Tang Palace night feast series created a "prosperity illusion" through 5 rounds of airdrops, but in reality, 90% of collectibles in the secondary market fell below their issue price, with many users holding "empowerment gift packages" unable to cash out.
▶️ Unemployed Individuals Become Targeted Harvesting Goals
Investigations revealed three main narratives in the digital collectible community:
"Zero foundation mobile phone money-making": targeting stay-at-home moms and delivery workers with 99 yuan low-priced blind boxes.
"New wind in cultural investment": selling co-branded items with intangible cultural heritage masters for 10,000 yuan to middle-aged unemployed individuals.
"Borrowing and arbitrage teaching": inducing college students to use credit to accumulate priority purchase qualification collectibles.
In a certain third-tier city, "digital collectible studios" have emerged, hiring unemployed individuals with daily wages to inflate the prices of specific collectibles through fake orders.
At this moment, certain digital collectible platforms' tacit approval of 24-hour transfer rules is giving rise to underground trading black markets. When the "Along the River During the Qingming Festival" is split into 9999 digital fragments, and artistic value reduces to floating numbers in speculators' accounts, this game disguised as a cultural investment might be more dangerous than P2P—after all, this time even the "physical asset" cover has been stripped away.
#NFT衰落 #数字货币 #数字藏品 #数字资产 #国内政策
As the international NFT market's trading volume plummets by 90%, domestic digital collectibles platforms are engaging in even crazier capital games.
A certain platform's latest release, "The Savior," dynamic digital collectibles, exposes the industry's hidden rules: to gain priority purchasing qualifications, one must hold 10 pieces of the platform's worthless collectibles, the so-called "empowerment" is actually a series of harvesting traps.
▶️ Hunger Games Under Platform Rules
Before the sale of "The Savior," it was mandatory to hold 10 unsold digital collectibles with an average price of 200 yuan; previously, during similar sales, certain users were forced to buy unwanted collectibles like "Dunhuang Flying Apsaras" and "Twelve Zodiac Signs" to qualify for purchasing.
The secondary market has seen the emergence of a "qualification agency" gray market, with purchasing fees as high as 200% of the sale price.
The so-called empowerment = small workshop-style airdrop: a certain zodiac digital collectible promised "offline exhibition tickets" which were actually 30 yuan vouchers for a VR experience center in a county-level shopping mall.
▶️ The Bubble Logic Behind Airdrop Economics
A certain platform's operations revealed industry tricks:
"Use 9.9 yuan airdrops to attract newcomers → Issue 999 yuan empowering collectibles to lock in users → Launch priority purchase rights worth 10,000 yuan to stimulate reinvestment."
Recently, a certain Tang Palace night feast series created a "prosperity illusion" through 5 rounds of airdrops, but in reality, 90% of collectibles in the secondary market fell below their issue price, with many users holding "empowerment gift packages" unable to cash out.
▶️ Unemployed Individuals Become Targeted Harvesting Goals
Investigations revealed three main narratives in the digital collectible community:
"Zero foundation mobile phone money-making": targeting stay-at-home moms and delivery workers with 99 yuan low-priced blind boxes.
"New wind in cultural investment": selling co-branded items with intangible cultural heritage masters for 10,000 yuan to middle-aged unemployed individuals.
"Borrowing and arbitrage teaching": inducing college students to use credit to accumulate priority purchase qualification collectibles.
In a certain third-tier city, "digital collectible studios" have emerged, hiring unemployed individuals with daily wages to inflate the prices of specific collectibles through fake orders.
At this moment, certain digital collectible platforms' tacit approval of 24-hour transfer rules is giving rise to underground trading black markets. When the "Along the River During the Qingming Festival" is split into 9999 digital fragments, and artistic value reduces to floating numbers in speculators' accounts, this game disguised as a cultural investment might be more dangerous than P2P—after all, this time even the "physical asset" cover has been stripped away.
#NFT衰落 #数字货币 #数字藏品 #数字资产 #国内政策
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🇰🇷 Chairman of the Korea Exchange calls for: Approval of cryptocurrency ETFs is urgent!
Jeong Eun-bo, chairman of the Korea Exchange, recently called for South Korea to approve cryptocurrency ETFs as soon as possible to cope with the current sluggish stock market. He stressed that reform of the financial sector is key to enhancing the country's competitiveness. As the world's third largest cryptocurrency trading country, South Korea should seize opportunities and create new market value.
In his last media interview, Jeong Eun-bo, chairman of the Korea Exchange, bluntly pointed out that the Korean stock market is facing severe challenges. In the second half of 2024, the Korea Composite Stock Price Index (KOSPI) fell sharply by 15%, causing retail investors to withdraw. In addition, the market is plagued by problems such as "unfair trading" and "zombie companies".
Jeong warned that without timely reforms, South Korea's financial markets will lag far behind other countries. He also stressed that the United States has made significant progress in cryptocurrency ETFs, so domestic regulators should approve cryptocurrency ETFs as soon as possible to avoid the Korean market falling further behind the global trend.
Jeong also mentioned that South Korea was somewhat allergic to cryptocurrency ETFs before, but now the situation in the United States has made Korean regulators begin to consider changes. Now, the Financial Supervisory Service of South Korea is reviewing the ban and has set up a digital asset advisory group. Meanwhile, as recently as January, the Korea Exchange was exploring the potential for approving a cryptocurrency ETF to diversify its market.
Seo Yoo-seok, chairman of the Korea Financial Investment Association (Kofia), also voiced his support, saying that the country should follow the example of the United States and approve relevant investment products to improve market transparency and attract more institutional investors to continue to maintain its leading position in the digital asset field.
In summary, the Korea Stock Exchange seems to be serious about the cryptocurrency ETF this time. If approved, it may bring new development opportunities to the market. Do you think South Korea can proceed smoothly this time? See the comments section!
#加密货币ETF #韩国 #金融改革 #市场竞争力 #数字资产
Jeong Eun-bo, chairman of the Korea Exchange, recently called for South Korea to approve cryptocurrency ETFs as soon as possible to cope with the current sluggish stock market. He stressed that reform of the financial sector is key to enhancing the country's competitiveness. As the world's third largest cryptocurrency trading country, South Korea should seize opportunities and create new market value.
In his last media interview, Jeong Eun-bo, chairman of the Korea Exchange, bluntly pointed out that the Korean stock market is facing severe challenges. In the second half of 2024, the Korea Composite Stock Price Index (KOSPI) fell sharply by 15%, causing retail investors to withdraw. In addition, the market is plagued by problems such as "unfair trading" and "zombie companies".
Jeong warned that without timely reforms, South Korea's financial markets will lag far behind other countries. He also stressed that the United States has made significant progress in cryptocurrency ETFs, so domestic regulators should approve cryptocurrency ETFs as soon as possible to avoid the Korean market falling further behind the global trend.
Jeong also mentioned that South Korea was somewhat allergic to cryptocurrency ETFs before, but now the situation in the United States has made Korean regulators begin to consider changes. Now, the Financial Supervisory Service of South Korea is reviewing the ban and has set up a digital asset advisory group. Meanwhile, as recently as January, the Korea Exchange was exploring the potential for approving a cryptocurrency ETF to diversify its market.
Seo Yoo-seok, chairman of the Korea Financial Investment Association (Kofia), also voiced his support, saying that the country should follow the example of the United States and approve relevant investment products to improve market transparency and attract more institutional investors to continue to maintain its leading position in the digital asset field.
In summary, the Korea Stock Exchange seems to be serious about the cryptocurrency ETF this time. If approved, it may bring new development opportunities to the market. Do you think South Korea can proceed smoothly this time? See the comments section!
#加密货币ETF #韩国 #金融改革 #市场竞争力 #数字资产
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