Paxos is applying for a "trust bank license" from U.S. regulators.

If successful, compliant stablecoins/settlement tracks will become more robust, effectively connecting fiat currency gateways to the blockchain main road.

This aligns with the narrative of the on-chain data flow of ICE×Chainlink: RWA and settlement in one.

Regulatory licenses + institutional data can attract more "long-term" capital.

In the short term, focus on sentiment; in the medium term, consider the recalibration of the valuation system.