#WEB3

Let’s talk about some news in the past two days: 1. The SEC sued Justin Sun and TRON for fraud and market manipulation. 2. The SEC initiated a "Wells Notice" to Coinbase regarding staking services and currency listing services. This is an informal notice of SEC civil litigation. 3. The White House government report on the 22nd has a clear negative tendency towards crypto assets.

From a macro and narrative point of view: the narrative of bank thunderstorms is completely over, and the US government is behind it. There will be no interest rate meeting in April. The combination of the two may bring a respite (a small rebound) to the copycat market in April.

Judging from the previous SEC regulatory news and the attitude of the White House, in the short term, we need to be vigilant about the Justin Sun and CB incidents. The impact of the incident has not yet been priced in. It can be light or serious. The most serious one is the US version of the 94 incident (slump). We need to reduce our positions and be patient and cautious.