The recent macroeconomic situation is not optimistic. The stamina of the high interest rate environment has begun. Last week, the bank index in the U.S. stock market hit its lowest level in three years. The KBW Bank Index fell 2.3%. The decline for the year was as high as 29%. It has fallen below the level after the collapse of First Republic Bank in May. Lows. In addition, the results announced by major banks such as Morgan Stanley and Citigroup continued to add insult to injury.

Since the 10-year Treasury bond yield once rose above 5%, concerns that financial markets may lose control have become increasingly louder. The potential collapse of several U.S. regional banks in the middle of this year is also inseparable from the high interest rate environment. In short, the waves in the macro world have not yet been completely covered. But I’m a bit selfish and looking at it from the perspective of the encryption industry. If it were just a stampede of events like the explosion of the old American bank, I really wouldn’t mind seeing it.