[Singapore Crypto Regulatory Storm! MAS New Regulations Take Effect, Chinese Crypto Legion Faces 'Life-and-Death Migration']
Once hailed as 'Asia's Crypto Paradise', Singapore's crypto industry is now undergoing an unprecedented upheaval. The new regulations effective at the end of June are like a bombshell, creating waves in the industry, with the Chinese crypto legion being the first to bear the brunt, facing severe challenges. 1. Three Major Killing Moves of the New Regulations, No Dead Angle Strangulation (1) License Extinction Order The Monetary Authority of Singapore (MAS) has clearly stated that unlicensed exchanges must shut down by the end of June, which is undoubtedly a 'death sentence' for trading platforms that operate outside regulation. Referring to the Hong Kong JPEX-style exit, exchanges without a legal license will completely lose their survival space in Singapore. In the past, some small cryptocurrency exchanges attempted to operate in the gray area, taking advantage of Singapore's relatively loose policy environment, but the new regulations have left them nowhere to hide.
In 2017, EOS was touted to rival ETH in the future, but what happened...
In 2017, EOS exploded in popularity with the concept of "rivaling ETH," raising $4 billion in its ICO. The lofty claims of "millions of TPS" and "free transactions" all fell flat—after launch, hackers stole private keys, block production was paralyzed, and performance was subpar. The price dropped from $22.89 to over 90% less now, market cap fell out of the top 100, and what was once a "king-level" public chain is nearing zero. In short: big claims, poor execution, the speculative bubble burst, and investors got severely burned.
It feels like the crypto market is about to explode! ——USDC's parent company Circle is going public on June 5, with a valuation skyrocketing to 18 billion USD. This situation is almost a mirror image of the Coinbase IPO in 2021! Back then, when Coinbase rang the bell, Bitcoin took a plunge, dropping from 65,000 all the way down to levels that made everyone unrecognizable; if history repeats itself, this wave of 'bloodsucking effect' might just create a huge pit in the market? Now, many people in the circle are nervously holding their wallets—big institutions are entering the market like 'hungry wolves pouncing on prey', and us small investors with our U (USDC) might really not be able to hold on much longer. Who knows when we might get 'cleaned out'... (PS: The more anxious you are, the calmer you should be! After Coinbase went public, the market did indeed experience volatility, but after short-term emotional speculation, it's hard to predict the trend. Right now, following the trend to sell off or chase high prices can easily lead to missteps, so it’s better to keep your pockets tight and wait for a couple of days to see what happens~)
The first company to go public in the stablecoin field!
Big news, everyone! On June 5th, Eastern Time, a major event occurred in the stablecoin space! The global second-largest stablecoin issuer USDC, Circle, officially listed on the New York Stock Exchange with the stock code 'CRCL'. This is the first company in the stablecoin field to go public!
Initially, Circle planned to issue 24 million shares, with a pricing range of $24 to $26 per share. However, the market was too crazy, and demand skyrocketed, leading to an expansion of the issuance scale to 34 million shares, with the price raised to $31. Ultimately, they raised $1.054 billion, which is impressive!
In fact, I believe there is no necessary relationship between having bitcoin and financial freedom; it mainly depends on when you buy, how much you bought, and whether you can withstand the fluctuations— 1. The 'lucky ones' who early on bought coins at a low price: some truly became rich from this. For example, around 2010, bitcoin was only a few cents each; some people hoarded hundreds or even more, holding until now (now each might be worth around $200,000), which indeed allows for financial freedom, buying cars and houses without worry. But such people are incredibly rare, equivalent to 'winning the cryptocurrency lottery,' and they have to hold for ten years without selling, which ordinary people simply cannot do.
Beginners entering the crypto world, want to avoid pitfalls? Learn these few tricks!
For beginners entering the crypto world who want to avoid pitfalls, remember the 6 words 'learn first, act less, choose carefully', and follow specific steps:
1. First solidify the 'fundamental course', don't be 'blind with eyes open'
1. Understand 3 core issues
- What is the crypto world? It's not 'just buy a coin and it will rise', but a digital asset trading market derived from blockchain technology, with options like spot (directly buying coins), contracts (leveraging to bet on price movements), and DeFi (decentralized finance), with risks ranging from low to high. - How to make money? The safest method for ordinary people is 'buy low, sell high' (spot trading), making money by analyzing project value and market cycles; don't believe in 'doubling in the short term' or 'insider information', 99% are scams.
Why do so many people still play in the cryptocurrency contract market even when there are liquidations?
To put it simply, even though there are always people losing everything in the cryptocurrency contract market, many still gather to play, mainly for these reasons——
① Want to make quick money with minimal investment
Leverage is incredibly enticing. For example, if you only have 1000 yuan, with 100x leverage, you can trade with 100,000 yuan. If the price rises by 1%, your 1000 yuan instantly becomes 2000 yuan, making money seem fast! But conversely, if it drops by 1%, you go straight to zero. Many people only focus on the possibility of “rising” and completely ignore the consequences of “falling,” thinking “I definitely won’t be the unlucky one.”
② Gambling until unable to stop
Some people refuse to accept their losses after a liquidation, thinking, “I was so close to making money just now, if I try again, I will definitely turn it around.” So they borrow money and increase their positions, the more they lose, the more they want to gamble; others feel that watching the price go up and down is like playing a thrilling game, it’s very stimulating, like being addicted, and even if they lose money, they can't help but keep staring at the screen and clicking the mouse, unable to stop.
③ Deceived by the illusion of “others making money”
There are constant reports of “some big shot made 100 times with contracts” and “some retail investor made enough for a house in a day,” and platforms always promote these “success stories,” but no one tells you how many people lost everything behind the scenes, how high the transaction fees and various miscellaneous costs are, and how easily one can be “cut” when the market moves slightly. Newcomers see others making money and think, “I can do it too,” but when they enter, they become someone else's “side dish.”
④ Think it’s “exciting and simple”
The cryptocurrency market is inherently volatile, and some people feel that trading contracts is more thrilling than regular buying, as they can bet on both rises and falls without needing to study complicated project logic, feeling that the “barrier to entry is low.” Additionally, because they might not understand traditional investments like stocks and funds, they dive headfirst into contracts, thinking, “I’ll take a gamble, turning a bicycle into a motorcycle,” not realizing they can’t compete against the market makers and market fluctuations behind the scenes.
In summary, it boils down to “greed + luck + herd mentality + seeking excitement.” Everyone is always thinking, “What if I make money?” but doesn’t consider that, fundamentally, “the money you earn is the money someone else loses,” and with the transaction fees, playing long-term is basically guaranteed to lose. But human nature is like this; they always feel “they can win in the end,” and as a result, most people become part of the “liquidation army”—to put it simply, they can’t control their hands and succumb to their “gambling nature.”
The feud between Trump and Musk escalates, potentially impacting the cryptocurrency space in the following ways:
Market sentiment aspect
The feud between the two may trigger uncertainty and concern in the market, leading to a decline in investors' risk appetite. This sentiment may spread to the cryptocurrency space, making investors more cautious in their investment decisions regarding digital currencies, reducing capital inflows, and even prompting some investors to sell off digital currencies, resulting in a price drop.
Tesla-related impact aspect
Tesla has a certain influence in the cryptocurrency field, having previously accepted Bitcoin for car purchases, among other things. The escalation of the feud between Musk and Trump, which caused Tesla's stock price to plummet, may lead the market to question Musk's business strategies and decisions, subsequently affecting investors' attitudes towards cryptocurrencies associated with Tesla or Musk. For instance, if investors believe that Tesla's growth prospects have become unclear due to the feud, they may reduce their investments in cryptocurrencies closely related to Musk, such as Dogecoin.
Policy expectation aspect
The policies of the Trump administration have potential impacts on the cryptocurrency space. If the feud results in the Trump administration taking stricter regulatory measures against Musk's enterprises, it may trigger market concerns about stricter regulations in related industries, which in turn could affect the cryptocurrency space. This is because government regulatory attitudes toward tech companies and emerging industries often have certain correlations and transmission effects, leading investors to worry that the cryptocurrency space may also face stricter regulations, thus adjusting their investment strategies.
Meme coins aspect
Musk's statements and actions on social media have repeatedly caused fluctuations in meme coins, such as when he changed his social media nickname to "Kekius Maximus," which led to a sharp rise in the similarly named meme coin. During this feud, if Musk's or Trump's related statements or actions attract public attention to certain specific meme coins, it could lead to significant price fluctuations in those meme coins. However, since meme coins typically lack actual value support, price fluctuations are often extremely volatile, posing very high investment risks.
The image shows the red Tesla that Trump bought to support him still at the White House.
On March 19, 2024, Singapore time, the Web3 BRC20 MTMT project shockedly released its grand ecological development plan, striving to build the world's largest Bitcoin ecological community through the DAO model and BTCFi autonomous development mechanism. With comprehensive functional features such as issuance, trading, circulation, empowerment and governance, MTMT shows excellent flexibility and scalability, not only supporting smart contracts, cross-chain interoperability and the seamless expansion of the Metaverse, but also in the BTCFi field Create a new path of diversified and sustainable development. MTMT is committed to serving the Inscription community in the Bitcoin ecosystem, providing users with a one-stop service platform that integrates digital cultural brand promotion, application introduction and transactions, and plans to further expand to the Bitcoin second-layer network to build a service A parallel world of Bitcoin ecology realizes the effective integration and efficient utilization of resources inside and outside the ecology. Looking to the future, MTMT has set a series of ambitious vision goals: 1. [User Group Expansion]: MTMT Ecosystem strives to become the world's largest gathering of Bitcoin ecological users, forming a strong and active community foundation. 2. [Ecological Publicity Flagship]: Create the largest publicity platform for the Bitcoin ecosystem comparable to Cyberconnect and Secondlive, and provide a full range of brand display and content dissemination services. 3. [Traffic aggregation engine]: Like Galxe, MTMT will become the largest traffic drainage platform in the Bitcoin ecosystem, guiding and aggregating global user flows. 4. [Liquidity Guarantee]: Play a key role and become the largest liquidity provider in the Bitcoin ecosystem to ensure efficient market operation. 5. [Inclusive Airdrop Center]: Establish the largest Bitcoin ecological airdrop platform to benefit more ecological participants and promote community prosperity. 6. [New IDO Benchmark]: Innovate the initial launch mechanism and become the most influential new IDO platform in the Bitcoin ecosystem, helping high-quality projects grow rapidly. At the same time, the MTMT ecosystem will also make in-depth arrangements in the following core areas: "RWA Digital Copyright Protection": Build a rigorous digital copyright management system to protect the rights and interests of creators and promote the healthy development of the digital cultural industry. "Cloud Computing Power DePIN Ecosystem": Relying on cloud computing power resources to build a decentralized Pinning service network to provide strong support for distributed storage and computing. "New Asset Launchpad": Launching an asset launchpad (Launchpad) that subverts the traditional model, providing a fairer and more transparent listing channel for start-up projects. With its unique diversified and inclusive design, MTMT is taking advantage of the booming development trend of the BTCFi ecosystem, constantly exploring potential value growth points, leading industry progress, and moving at full speed towards building a new era of global, multi-dimensional, and highly autonomous Bitcoin ecosystem. .
activity theme: Will BTC have a deep correction? Take a short position and get on board. Retweet + follow + like and screenshot into Telegram group Sponsor: 1.chain news @CHAINnews Media and aggregator platform focusing on the Bitcoin ecological track (Inscription, Rune, L2) 2. MTMT @BRCMTMT The Bitcoin Ecological Parallel World was initiated by the Singapore Foundation to create a co-creation service platform for the Bitcoin ecosystem and the Bitcoin second-layer network using inscriptions as the entrance. Event date: March 14, 21:00 UTC+8 (duration 2 hours) Event guests: @Hunter_lau @ice_wyb @rancherzhu