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Sorry, I drank too much again tonight.On Thursday night, there was a piece of news that came out too late, so I didn't include it in my evening report. Guotai Junan Securities was planning to absorb and merge Haitong Securities. This was the first merger of large securities firms after the release of the Nine Measures. Guotai Junan Securities and Haitong Securities were both suspended on Friday. Other securities sectors that were trading once surged to 2.5% in the morning, but fell to 0.5% at the close, which was equivalent to leaving some people out in the cold. Traditionally, there are two types of positive factors for securities stocks. One is the reduction of stamp duty, which is unquestionably a once-in-a-decade event. The other is the merger of securities firms, which is a tradition and occurs almost every one or two years.

Sorry, I drank too much again tonight.

On Thursday night, there was a piece of news that came out too late, so I didn't include it in my evening report. Guotai Junan Securities was planning to absorb and merge Haitong Securities. This was the first merger of large securities firms after the release of the Nine Measures. Guotai Junan Securities and Haitong Securities were both suspended on Friday. Other securities sectors that were trading once surged to 2.5% in the morning, but fell to 0.5% at the close, which was equivalent to leaving some people out in the cold.

Traditionally, there are two types of positive factors for securities stocks. One is the reduction of stamp duty, which is unquestionably a once-in-a-decade event. The other is the merger of securities firms, which is a tradition and occurs almost every one or two years.
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SEC Chairman Still Won’t Say Whether Ethereum (ETH) Is a SecuritiesU.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has still not clearly answered whether Ethereum (ETH) is legally a security. In an interview with Bloomberg on Thursday, the chairman was asked to clear up regulatory fog surrounding the second-largest cryptocurrency as applications for an Ethereum spot ETF are piling up on the agency’s desk. Why didn't Gensler respond? Gensler's answer remained ambiguous, saying: "In any of these crypto tokens, the key is whether the investing public expects to profit based on the efforts of others." He quipped: “For any crypto token, the key is whether the investing public believes it has achieved profit expectations based on the efforts of others.”

SEC Chairman Still Won’t Say Whether Ethereum (ETH) Is a Securities

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has still not clearly answered whether Ethereum (ETH) is legally a security.
In an interview with Bloomberg on Thursday, the chairman was asked to clear up regulatory fog surrounding the second-largest cryptocurrency as applications for an Ethereum spot ETF are piling up on the agency’s desk.
Why didn't Gensler respond?
Gensler's answer remained ambiguous, saying: "In any of these crypto tokens, the key is whether the investing public expects to profit based on the efforts of others."
He quipped: “For any crypto token, the key is whether the investing public believes it has achieved profit expectations based on the efforts of others.”
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On June 3, the share price of Berkshire Hathaway, owned by Buffett, experienced a "flash crash" without any warning, falling from the normal $620,000 per share to $185.1 per share in an instant, a plunge of nearly 100%. According to reports, the incident was caused by a technical problem of the New York Stock Exchange, specifically a technical failure of the Uniform Securities Market Association when publishing the price range. Many netizens may be thinking that if they bought at a low point at that time, they would become rich once the technical failure was fixed and the price recovered! Think about it, you are too naive, retail investors want to fleece the capitalists, but there is no way. Here comes the follow-up event: Faced with this market anomaly, the New York Stock Exchange responded quickly, announcing that all erroneous transactions caused by technical problems were invalid, and a comprehensive investigation of the incident was conducted. We must understand that the power balance between retail investors and capitalists is often unequal. Large investors usually have more resources, information and influence, and can occupy a more advantageous position in the market. Retail investors should be aware of this and adopt a cautious investment strategy instead of hoping for unrealistic returns through speculation. The same is true for the cryptocurrency market, also known as the "coin circle". It is a field full of opportunities, and new investment targets and opportunities may appear at any time. However, this market dynamics is also accompanied by high risks. Investors are easily affected by FOMO emotions and chase ups and downs, while ignoring the uncertainty of the market. But huge price fluctuations often exceed everyone's current expectations, and may make you lose all your money in an instant. Because, what you think is the "high point" may have a higher point. On the contrary, what you think is the "bottom price" may still face an endless abyss. Therefore, opportunities and risks coexist in the investment market, and retail investors must always maintain a respect for the market! In the coin circle, black swan events also occur from time to time, such as unexpected regulatory changes, security vulnerabilities of major exchanges, market manipulation scandals, etc., which are the best examples of the impact and wide spread in the investment market. If you are not careful, you will lose everything and return to the pre-liberation era overnight. Stories and cases abound.$BTC {spot}(BTCUSDT) Therefore, as investors, we must be aware of the volatility of the market, do our own research at any time, and don't be swayed by the market. When choosing your investment target and deciding the time to enter the market, a mature investment mentality is to firmly execute it. At the same time, position management is the key to controlling risks. Do not use funds beyond your personal financial capacity. As an investor, you should follow this principle in any investment decision. Remember, there is no shortcut to get rich quickly in the investment market. Successful investment often requires in-depth research, careful decision-making and good risk management. At the same time, investors should maintain a wise and cautious attitude to avoid being swayed by market fluctuations and FOMO emotions. In short, investors should always remember that prudence and wisdom are the necessary keys to financial success. In the ever-changing market environment, through continuous learning and summarization, keeping calm and rational analysis, we can better deal with market risks. In the face of market risks, only by calmly executing your own response strategy can you accurately capture and make good use of opportunities when they come. In this way, investors can move towards financial freedom at a steady pace in the complex and ever-changing capital market. #投资 #股票 #证券
On June 3, the share price of Berkshire Hathaway, owned by Buffett, experienced a "flash crash" without any warning, falling from the normal $620,000 per share to $185.1 per share in an instant, a plunge of nearly 100%.

According to reports, the incident was caused by a technical problem of the New York Stock Exchange, specifically a technical failure of the Uniform Securities Market Association when publishing the price range.

Many netizens may be thinking that if they bought at a low point at that time, they would become rich once the technical failure was fixed and the price recovered! Think about it, you are too naive, retail investors want to fleece the capitalists, but there is no way.

Here comes the follow-up event:

Faced with this market anomaly, the New York Stock Exchange responded quickly, announcing that all erroneous transactions caused by technical problems were invalid, and a comprehensive investigation of the incident was conducted.

We must understand that the power balance between retail investors and capitalists is often unequal. Large investors usually have more resources, information and influence, and can occupy a more advantageous position in the market. Retail investors should be aware of this and adopt a cautious investment strategy instead of hoping for unrealistic returns through speculation.

The same is true for the cryptocurrency market, also known as the "coin circle". It is a field full of opportunities, and new investment targets and opportunities may appear at any time. However, this market dynamics is also accompanied by high risks. Investors are easily affected by FOMO emotions and chase ups and downs, while ignoring the uncertainty of the market. But huge price fluctuations often exceed everyone's current expectations, and may make you lose all your money in an instant. Because, what you think is the "high point" may have a higher point. On the contrary, what you think is the "bottom price" may still face an endless abyss. Therefore, opportunities and risks coexist in the investment market, and retail investors must always maintain a respect for the market!

In the coin circle, black swan events also occur from time to time, such as unexpected regulatory changes, security vulnerabilities of major exchanges, market manipulation scandals, etc., which are the best examples of the impact and wide spread in the investment market. If you are not careful, you will lose everything and return to the pre-liberation era overnight. Stories and cases abound.$BTC
Therefore, as investors, we must be aware of the volatility of the market, do our own research at any time, and don't be swayed by the market. When choosing your investment target and deciding the time to enter the market, a mature investment mentality is to firmly execute it.

At the same time, position management is the key to controlling risks. Do not use funds beyond your personal financial capacity. As an investor, you should follow this principle in any investment decision.

Remember, there is no shortcut to get rich quickly in the investment market. Successful investment often requires in-depth research, careful decision-making and good risk management. At the same time, investors should maintain a wise and cautious attitude to avoid being swayed by market fluctuations and FOMO emotions.

In short, investors should always remember that prudence and wisdom are the necessary keys to financial success. In the ever-changing market environment, through continuous learning and summarization, keeping calm and rational analysis, we can better deal with market risks. In the face of market risks, only by calmly executing your own response strategy can you accurately capture and make good use of opportunities when they come. In this way, investors can move towards financial freedom at a steady pace in the complex and ever-changing capital market. #投资 #股票 #证券
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Dawn is comingA rare big bullish candle, the market has recovered a lot today. The two markets traded 900 billion yuan, and the market median rose 3.18%. The most outrageous thing was that the northbound channel had a net purchase of 19.5 billion yuan today. This data ranks among the top ten in the history of single-day net inflows. Just yesterday, it was said that the annual cumulative amount was about to fall into negative numbers, but today a large amount of money was added. It is not known whether this 19.5 billion yuan is real foreign capital or overseas officers and soldiers returning to provide assistance. I can't find any special major positive news today from reliable information sources. The capital market is sometimes so weird. It may suddenly collapse for no reason or suddenly pull up a big wave. But I can't say I'm very optimistic, because even if the market rises today, the overall market will return to the level of last Monday.

Dawn is coming

A rare big bullish candle, the market has recovered a lot today.

The two markets traded 900 billion yuan, and the market median rose 3.18%. The most outrageous thing was that the northbound channel had a net purchase of 19.5 billion yuan today. This data ranks among the top ten in the history of single-day net inflows. Just yesterday, it was said that the annual cumulative amount was about to fall into negative numbers, but today a large amount of money was added. It is not known whether this 19.5 billion yuan is real foreign capital or overseas officers and soldiers returning to provide assistance.

I can't find any special major positive news today from reliable information sources. The capital market is sometimes so weird. It may suddenly collapse for no reason or suddenly pull up a big wave. But I can't say I'm very optimistic, because even if the market rises today, the overall market will return to the level of last Monday.
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A Brief Analysis of the U.S. SEC Cryptocurrency RoundtableThe U.S. SEC will hold its first cryptocurrency roundtable on March 21, with the theme of 'Defining Securities Status.' There are many types of cryptocurrencies, including mainstream digital currencies like Bitcoin and Ethereum, as well as various tokens and coins based on blockchain technology. How to classify and regulate these different types of cryptocurrencies is an important topic for this meeting. This meeting is led by Republican Commissioner Hester Peirce (known as 'Crypto Mom'), who has long advocated for a 'safe harbor' policy that allows projects to operate temporarily before compliance. If the meeting gives off similar signals, it will benefit small and medium-sized innovative projects; conversely, if it strengthens the identification of securities attributes, it may lead to more projects going overseas or turning towards 'decentralized' packaging.

A Brief Analysis of the U.S. SEC Cryptocurrency Roundtable

The U.S. SEC will hold its first cryptocurrency roundtable on March 21, with the theme of 'Defining Securities Status.'

There are many types of cryptocurrencies, including mainstream digital currencies like Bitcoin and Ethereum, as well as various tokens and coins based on blockchain technology. How to classify and regulate these different types of cryptocurrencies is an important topic for this meeting.

This meeting is led by Republican Commissioner Hester Peirce (known as 'Crypto Mom'), who has long advocated for a 'safe harbor' policy that allows projects to operate temporarily before compliance. If the meeting gives off similar signals, it will benefit small and medium-sized innovative projects; conversely, if it strengthens the identification of securities attributes, it may lead to more projects going overseas or turning towards 'decentralized' packaging.
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Musk asked to testify in SEC probe of $44 billion Twitter acquisitionMusk was asked to testify in the SEC's investigation into its $44 billion acquisition of Twitter. Specifically, the SEC is investigating whether there was securities fraud in 2022. This is because Elon Musk had built up his position by buying a large number of Twitter shares before the leveraged buyout of the social media company. After completing the acquisition, Musk renamed Twitter to X. Additionally, in a court order dated February 10, 2024, federal district judge Laurel Beeler noted that while Musk and his legal team argued that the SEC's subpoenas amounted to harassment of the billionaire, the regulator's request was legal and within its authority. The judge also mentioned that the SEC was looking for "certain, material information" in its investigation.

Musk asked to testify in SEC probe of $44 billion Twitter acquisition

Musk was asked to testify in the SEC's investigation into its $44 billion acquisition of Twitter. Specifically, the SEC is investigating whether there was securities fraud in 2022. This is because Elon Musk had built up his position by buying a large number of Twitter shares before the leveraged buyout of the social media company. After completing the acquisition, Musk renamed Twitter to X.
Additionally, in a court order dated February 10, 2024, federal district judge Laurel Beeler noted that while Musk and his legal team argued that the SEC's subpoenas amounted to harassment of the billionaire, the regulator's request was legal and within its authority. The judge also mentioned that the SEC was looking for "certain, material information" in its investigation.
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Why the SEC is wrong to classify cryptocurrencies as securitiesThis article briefly: Charles Hoskinson believes it’s unfair to call ADA a security, according to Bitcoin and Ethereum maxis, who insist the tokens are not securities. Pro-cryptocurrency lawyer John Deaton agrees, as U.S. securities laws indicate that assets can be used in unregistered securities offerings. · Hoskinson said two weeks ago that Cardano itself is not completely out of the control of Input Output Global until the new governance system is completed. Cardano (ADA) co-founder Charles Hoskinson believes regulators should not be fooled by extremist claims that Bitcoin and Ethereum are not securities. ADA, Ripple (XRP) and any other token can become securities when used in an investment contract, as defined by the Securities Act of 1933.

Why the SEC is wrong to classify cryptocurrencies as securities

This article briefly:
Charles Hoskinson believes it’s unfair to call ADA a security, according to Bitcoin and Ethereum maxis, who insist the tokens are not securities.
Pro-cryptocurrency lawyer John Deaton agrees, as U.S. securities laws indicate that assets can be used in unregistered securities offerings.
· Hoskinson said two weeks ago that Cardano itself is not completely out of the control of Input Output Global until the new governance system is completed.

Cardano (ADA) co-founder Charles Hoskinson believes regulators should not be fooled by extremist claims that Bitcoin and Ethereum are not securities. ADA, Ripple (XRP) and any other token can become securities when used in an investment contract, as defined by the Securities Act of 1933.
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Elon Musk's xAI files for private sale of $1 billion worth of unregistered securitiesThe form allows Elon Musk to legally sell assets without going through the registration process. Elon Musk, who was also a co-founder of OpenAI at the time and has been working on xAI for some time now, launched another chatbot called Grok, which was marketed as being "quirky" and able to Visit the Twitter API to stay up to date with the latest news. Grok is still in beta Currently, access to the chatbot is severely restricted and only internal testers can actually use it.

Elon Musk's xAI files for private sale of $1 billion worth of unregistered securities

The form allows Elon Musk to legally sell assets without going through the registration process.
Elon Musk, who was also a co-founder of OpenAI at the time and has been working on xAI for some time now, launched another chatbot called Grok, which was marketed as being "quirky" and able to Visit the Twitter API to stay up to date with the latest news.

Grok is still in beta
Currently, access to the chatbot is severely restricted and only internal testers can actually use it.
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