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#中国加密新规 2025年6月27日，国家密码管理局等三部门联合发布《关键信息基础设施商用密码使用管理规定》，自8月1日起施行，旨在强化关键信息基础设施的网络安全防护。

核心内容：

- 监管体系：国家及地方密码管理部门会同网信、公安部门，分级负责商用密码使用的规划、指导与监督；相关行业保护部门需每年报告管理情况。
- 运营者要求：需同步规划、建设商用密码保障系统，定期开展安全性评估并年报；配备专业人员（密钥管理、操作、审计等），将相关经费纳入预算。
- 产品与技术：使用的商用密码产品、服务需经检测认证，技术需通过审查；采购涉及国家安全的产品和服务，需进行网络安全审查；用商用密码保护核心数据、重要数据和个人信息。
- 全流程规范：规划、建设、运行各阶段均需开展安全性评估，未通过评估不得推进；已运行的设施需按要求整改。
- 监督管理：建设运行安全管理基础设施，定期检查，工作人员需保密。

该规定进一步筑牢了关键信息基础设施的安全屏障。

#创作者任务台 In the DeFi field, Lista DAO is showing strong momentum.

In its collaboration with World Liberty Financial on the USD1 ecosystem, Lista DAO has become the largest on-chain liquidity center for USD1, with a TVL exceeding 100 million USD, firmly maintaining its strategic position as a core hub.

20% (200 million) of LISTA tokens have been burned, enhancing token scarcity and intrinsic value through a long-term deflationary mechanism, injecting stability into the ecosystem.

Behind the TVL surpassing 3 billion USD is the technical assurance of a multi-oracle architecture and security mechanisms, the boundary expansion brought by extensive cooperation in the ecosystem, and the precise satisfaction of user needs through product innovation. In the future, Lista DAO will continue to promote ecosystem integration and product upgrades, with the potential to maintain its lead in the DeFi space. #ListaDao $LISTA

$OP is tightly controlled by the main force, driving retail investors out, directly flying to $1.3

$BNB has held BNB for three years and has finally broken through to a new high. Is it still far from 1000 dollars? What does CZ's gesture represent? Is BNB going to 4000 dollars? $BNB

On July 6, #美国加征关税 local time, U.S. President Trump stated that any country supporting the "anti-American policies" of the BRICS nations would face an additional 10% tariff, with no exceptions to this policy. He also mentioned that the U.S. government would begin sending tariff letters to various countries starting at 12:00 PM Eastern Time on the 7th.

Currently, Trump has not provided an explanation or detailed description of the "anti-American policies." However, on July 6, the 17th BRICS Leaders' Meeting was held in Rio de Janeiro, Brazil, and the statement resulting from the meeting "indirectly criticized" the United States, expressing "serious concerns" about the rise in tariffs, stating that they "do not comply with World Trade Organization (WTO) rules" and that these restrictive measures "could reduce global trade, disrupt global supply chains, and create uncertainty."

Moreover, some analysis suggests that Trump's actions primarily have economic and political objectives. Economically, the vague language regarding the tax increase allows for significant interpretive leeway and strong operational capacity; politically, it aims to deter more countries from joining the BRICS group, creating a political deterrent against the BRICS nations, limiting their global influence, and protecting U.S. interests and global hegemonic status.

Regarding the comment made by U.S. Treasury Secretary Becerra about the possibility of tariffs reverting to April levels if an agreement is not reached before August 1, it remains unclear what specific April tariff levels he was referring to, as well as the specific content and negotiation progress of the related agreement. $BTC

$BTC Bitcoin's price trend has fluctuated dramatically since its inception, experiencing several distinct phases:

- Early slow development phase (2009-2012): Bitcoin was almost worthless when it was created in 2009. The first transaction record in 2010 showed a price of less than 1 cent. It first reached $1 in 2011, followed by the first significant fluctuation, peaking at about $30 before falling back.
- First bull market and adjustment period (2013-2016): In 2013, the price of Bitcoin soared from just over ten dollars at the beginning of the year to nearly $1,200 by the end of the year. In the following years, it entered a period of adjustment, with prices falling back to $200-300. By the end of 2016, it gradually recovered to around $1,000.
- Outbreak and correction period (2017-2019): Bitcoin ushered in a large-scale bull market in 2017, with prices rising from less than $1,000 at the beginning of the year to breaking $20,000 before the end of the year. In 2018, it entered a bear market, with prices falling to about $3,000.
- Mature fluctuation period (2020 to present): In 2020, affected by the epidemic, Bitcoin's "digital gold" attribute was recognized, and the price rose rapidly. In 2021, it reached a record high of $68,991. After that, although there was a correction, it remained at a relatively high level overall. In 2024, the price performance was strong, once rising to $68,059.6, and broke the $90,000 mark in November. In 2025, the price of Bitcoin rose amid fluctuations, breaking $110,000 on May 22, reaching a peak of $110,830 per coin. In June, the price fluctuated sharply due to the situation in the Middle East, once falling below $100,000. As of July 6, the price was $108,090.80, up 0.42% from the previous day.

The above content is compiled from public information and does not constitute investment advice.

#长期持有策略 Long-term Holding Strategy Key Points

1. Core Logic: Analyze the intrinsic value of assets, ignore short-term fluctuations, and achieve appreciation over time.
2. Applicable Targets: Stable performance leading stocks (such as Moutai, Apple), digital currencies with ecological value (Bitcoin, Ethereum), inflation-resistant gold, or broad index funds.
3. Operational Methods:
- Buy when undervalued (e.g., PE below industry average);
- Hold without frequent trading, regularly review fundamentals, and continue holding if the logic remains unchanged;
- Diversify allocation across 2 - 3 asset classes to reduce risk.
4. Precautions:
- Cut losses decisively when fundamentals deteriorate, do not blindly hold on;
- Reduce holdings towards the end of a bull market, and gradually increase holdings at the bottom of a bear market.

#现货与合约策略 1. Spot Trading Strategies

- Long-term Holding: Analyze asset value, select undervalued targets for long-term holding, such as quality stocks and mainstream digital currencies.
- Follow the Trend: Use moving averages and other technical indicators to determine price movements; buy on the rise, sell on the decline.
- Regular Investment: Invest a fixed amount at regular intervals to average costs and reduce timing risks.

2. Contract Trading Strategies

- Range Arbitrage: Determine price fluctuation ranges, go long at low prices and short at high prices, and set take-profit and stop-loss levels.
- Hedging: When holding spot positions, use contracts for opposite operations to reduce losses from price fluctuations.
- Breakout Trading: Open positions in the direction of the trend after the price breaks key levels, while setting stop-losses to prevent false breakouts.

Key Reminders

Contract trading carries high risks; be sure to set stop-losses and control leverage; spot trading emphasizes diversification to avoid blindly following trends. Beginners should prioritize trying spot trading and approach contracts with caution.

#马斯克计划成立美国党 On July 5, local time, Elon Musk officially announced the establishment of the "American Party" on the social media platform X.

Background of establishment

The direct reason for Musk to establish the "American Party" was the serious disagreement with US President Trump on the "Big and Beautiful" tax and spending bill. The bill abolished many provisions formulated by the previous Biden administration to reduce energy consumption, and also cancelled the tax deduction for purchasing electric vehicles, which is very unfavorable for Tesla boss Musk.

Related plans

Musk said that the "American Party" will focus on 2 to 3 Senate seats and 8 to 10 House of Representatives districts to gain a seat in Congress. He believes that given the narrow gap in congressional legislative seats, these seats are enough to play a decisive role and ensure that the law can serve the true will of the people.

Public reaction

In the vote initiated by Musk on whether the "American Party" should be established, about 1.249 million netizens participated, with supporters accounting for 65.4% and opponents accounting for 34.6%.

Future impact

From the current situation, the "American Party" faces many challenges in transforming into a larger political force. The current political structure and legal system in the United States favor the "winner takes all" of the two parties, and most third parties are short-lived. Although Musk has huge wealth and strong network influence, he lacks reliable grassroots organizations and the ability to mobilize the grassroots. However, the "American Party" may play a role in political diversion, forcing traditional political parties to reform.

#晒出你的交易 $SAHARA Pork Knuckle Rice is here!

51,536,969,453 US national debt reaches a historic high, with 25% of tax revenue used to pay interest, which indeed raises concerns about inflation, long-term fiscal stability, and the future direction of the dollar, as follows:

On Inflation

- Increased money supply: To repay debt and pay interest, the US government may resort to increasing the money supply, which will lead to an increase in the money supply and thus trigger inflation.
- Demand-pull inflation: The government maintains fiscal spending through borrowing, which may stimulate economic growth and increase total demand. When supply cannot respond quickly, it may lead to rising prices, triggering demand-pull inflation.

On Long-term Fiscal Stability

- Debt sustainability issues: The continuously growing debt and high interest payments burden the US government with increasing debt, which may lead to a rise in the risk of default and affect national credit.
- Limited fiscal space: A large portion of tax revenue is used to pay interest, limiting government spending in other important areas such as infrastructure, education, and healthcare, thus affecting the long-term growth potential of the economy.

On the Future Direction of the Dollar

- Eroded confidence: Huge debt and high-interest payments may lower investors' confidence in the US economy and the dollar, leading to capital outflows and dollar depreciation.
- Pressure on currency depreciation: To address the debt issue, the US government may adopt loose monetary policies, which will further weaken the value of the dollar.
- Challenges to international status: As other countries lose confidence in the dollar, it may accelerate the process of 'de-dollarization,' reducing the dollar's status in the international monetary system.

As of June 20, 2025, 16:07, the price of Bitcoin is $106,190, an increase of $1,320 from yesterday, with a rise of 1.26%. In the last 24 hours, the highest price was $106,220, and the lowest was $104,080.

In the short term, Bitcoin has risen for five consecutive days and continues to maintain an upward trend on the 20th. The funding situation shows that the trading volume of Bitcoin in the last 24 hours was $29.4697 billion, an increase of 4.50% from the previous day, indicating increased market activity. Technically, attention should be paid to the breakout situation at $106,820 in the spot four-hour chart. A breakout would indicate strength, while a drop below the previous low might lead to continued adjustments.

In the medium term, Bitcoin has increased by 6.10% in the past seven days, but this performance is lower than the 7.20% increase in the global cryptocurrency market. In mid-June, the price of Bitcoin approached the key support level of $94,000, at which point the market was in a tug-of-war situation. Large transaction data showed that sell orders exceeded buy orders, with a net outflow of $21.25 million, and both MACD and KDJ also presented death cross signals. However, the recent price has rebounded, and market sentiment and technical indicators have improved.

From the news perspective, progress has been made in U.S. stablecoin legislation, which may have some impact on the cryptocurrency market. The demand for Bitcoin from institutional investors is also steadily rising, with companies like Metaplanet, Marathon Digital, and Tesla confirming their holdings of BTC, which provides some support for the price.

The above content is based on publicly available information and does not constitute investment advice. The cryptocurrency market has high risks and uncertainties, and investors should make cautious decisions.

#波段交易策略 Choose a suitable swing trading strategy for yourself, which can start from the following four steps:

1. Clarify your own situation

- Trading time: If you don't have time to monitor, you can choose a weekly trend strategy; if you have energy, you can do short-term swings.
- Risk tolerance: If you have low risk preference, choose support and resistance level trading; if you prefer high volatility, you can choose trend breakout strategies.
- Experience level: Beginners can use simple strategies like moving averages, while experienced traders can try pattern analysis or multiple indicator combinations.

2. Match the market environment

- Trending market (one-sided rise/fall): Use trend-following methods (such as buying when moving averages are bullish) or pattern breakout methods (such as following up after breaking a triangle).
- Consolidating market (range fluctuations): Buy at support levels, sell at resistance levels, or use RSI and Bollinger Bands to judge overbought and oversold conditions.

3. Test strategy effectiveness

- Historical backtesting: Use data from the past 3-5 years to verify win rates, profit-loss ratios, and other indicators.
- Simulated trading: Operate with a demo account for 1-3 months to see if the strategy adapts to real market conditions and whether you can strictly execute it.

4. Dynamic adjustment and optimization

- If the strategy fails, promptly adjust the rules (such as adding volume confirmation conditions in a consolidating market), or combine multiple strategies for synergy (such as using moving averages for direction + MACD for buy/sell points).

Strategy adaptation reference

- Beginners: 20-day moving average + MACD, buy when above the moving average and a golden cross occurs, sell when below the moving average or a death cross occurs.
- Trend trading: Buy when the head and shoulders bottom breaks out, set stop-loss below the neckline.
- Consolidating market: Bollinger Bands middle line + RSI, buy at middle line with RSI < 30, sell at upper line with RSI > 70.

#X超级应用转型 X Super App Transformation refers to the process by which Elon Musk's X platform (formerly Twitter) transitions from a single social media platform to a super app ecosystem that integrates multiple functions. The following are related initiatives for its transformation:

- Diversification of Functionality: In terms of payment services, a built-in payment system will be launched in January 2024, followed by the release of the digital wallet 'X Money' in 2025, with plans to introduce credit or debit cards. In content creation, a revenue-sharing program will be introduced to attract creators. Additionally, live streaming and e-commerce functions will be integrated, with live shopping features set to launch in May 2024 in select markets.
- Optimizing User Experience: The interface will adopt a modular layout, allowing users to customize their experience. AI technology will be employed to analyze user behavior for precise content recommendations. Real-time interactive tools, such as polls, Q&A, and virtual gifts, will be introduced to enhance interaction among users.
- Innovative Business Model: In terms of advertising revenue, AI-based personalized ad delivery will be launched, along with live streaming ads. Regarding subscription models, the X Premium subscription service will be introduced, offering exclusive content and reduced ads as value-added services. For e-commerce and payment functionalities, a one-stop solution will be provided to merchants, taking a commission of 1.5%-2% from each transaction.

The goal of the X platform is to become a one-stop service platform similar to China's WeChat, providing users with more convenient and comprehensive digital lifestyle services. However, the transformation process also faces numerous challenges, including uncertainty about user acceptance of new features, data privacy and security, and regulatory compliance.

$USDC USDC is a stablecoin issued by Circle, officially known as USD Coin (USDC). The following introduces it from the aspects of issuance and anchoring, characteristics, applications, and risks:

Issuance and Anchoring

- USD Peg: 1 USDC is typically pegged to 1 USD, aiming to maintain stable value.
- Issuance Mechanism: Issued based on blockchain technologies like Ethereum, requiring corresponding USD reserves for support at issuance, and will be audited regularly to ensure sufficient reserves.

Characteristics

- Compliance: As a compliant financial institution, Circle issues USDC under regulatory oversight, demonstrating notable compliance performance.
- Transparency: Information regarding reserve assets is disclosed, allowing users to understand the support behind it.
- Cross-Platform Use: Usable across multiple cryptocurrency exchanges, decentralized finance (DeFi) platforms, and other scenarios, having a broad application scope.

Application Scenarios

- Medium of Exchange: In cryptocurrency trading, users commonly use it as an intermediate currency to avoid risks associated with directly using highly volatile cryptocurrencies.
- Fund Storage: Due to its relatively stable value, it can serve as a stable asset in cryptocurrency asset portfolios for storing funds, providing a certain level of risk hedge.
- DeFi Applications: In the DeFi sector, USDC can be used for lending, staking, and other operations, being one of the commonly seen assets in many DeFi protocols.

Risks

- Regulatory Risk: Although USDC is relatively compliant, stablecoins overall still face changes in regulatory policies. If regulations tighten, it may impact its issuance and usage.
- Reserve Risk: Despite Circle claiming sufficient USD reserves, if there are situations of insufficient reserves or lax audits, it may affect the peg of USDC to USD, leading to price fluctuations.
- Technical Risk: Issued based on blockchain technology, it may face security issues of the blockchain network, such as smart contract vulnerabilities, resulting in potential losses for users.

June 18, 2025 Press Conference

- Interest Rate Policy: The Federal Reserve has maintained its interest rates unchanged for the fourth consecutive time, keeping the federal funds rate target range between 4.25% and 4.50%. Powell emphasized that under the current economic situation, the Federal Reserve is 'fully conditioned to wait and further understand the possible direction of the economy', pointing out that the current monetary policy is in a 'moderately tight' state.
​
- Inflation Issues: Officials raised their median expectation for U.S. inflation this year from 2.7% in March to 3%. Powell stated that 'tariff-driven price increases' will become more apparent, commodity inflation has slightly increased, and it is expected to be more significant this summer. It will take time to see the impact of tariffs in the commodity distribution chain, and the Fed will not easily cut rates until there is certainty about inflation declining.
​
- Economic Outlook: The GDP growth expectation for this year was cut from 1.7% to 1.4%. Powell stated that 'no one has complete certainty about these interest rate paths', but there is an expectation of gaining more in-depth understanding of tariffs throughout the upcoming summer.
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- Other Aspects: In response to the White House's call for rate cuts, Powell only stated that Federal Reserve officials are committed to building a robust economy. When discussing Federal Reserve layoffs, he mentioned finding 10% of employees who can qualify for other positions to streamline operations. Additionally, he pointed out that the U.S. labor market shows 'low hiring and low firing' phenomena and believes that artificial intelligence could become a factor in suppressing inflation.

February 21, 2025 Speech

Powell emphasized the rapid development of the cryptocurrency market and its accompanying risks, pointing out that the anonymity and decentralization of cryptocurrencies lead to frequent risks such as market manipulation, fraud, and technical security issues. He stated that the Federal Reserve is committed to establishing a more comprehensive regulatory framework and noted that banks have the ability to support legitimate cryptocurrency businesses, but effective risk management is necessary; regulation is not meant to stifle cryptocurrency innovation but to ensure its healthy development.

#加密概念美股 Below are some cryptocurrency concepts in the US stock market:

- Circle (CRCL): Known as the "first stock of stablecoins," its issued USDC is a well-known stablecoin. Approximately 99% of its revenue in 2024 comes from USDC reserve interest income. Due to its solid profit model and high compliance transparency, its stock price has skyrocketed since its listing on June 5, with a market capitalization approaching $36.7 billion.
- SRM Entertainment (SRM): Currently priced at about $9.19, it has surged about 534% compared to the level of less than $1.50 in early June. The company attracted market attention after announcing a $100 million investment and launching a token treasury strategy on the Tron (TRON) platform, becoming the "Tron version of MicroStrategy betting on cryptocurrency asset reserves."
- SharpLink Gaming (SBET): The company spent $463 million to acquire 176,271 Ethereum, implementing a cryptocurrency asset treasury strategy, making it the largest publicly traded holder of Ethereum. The stock price once peaked at $35 due to expectations of cryptocurrency market capitalization, then plummeted and rebounded, currently with a market cap of about $817 million.
- DeFi Development (DFDV): Aiming to become a "Solana treasury" type company, it held over 600,000 SOL tokens as of May and further increased its holdings through substantial credit. On June 16, the stock rose about 20.7%, accumulating an increase of about 30% since June 7, with a market cap of about $458 million.
- MicroStrategy (MSTR): Has been renamed "Strategy," positioned as the world's largest Bitcoin reserve company, holding the largest amount of Bitcoin among publicly traded companies, with a market cap exceeding $100 billion, and displaying a relatively stable trend.
- Coinbase (COIN): The largest cryptocurrency exchange in the United States, its stock price has recently risen gradually as the cryptocurrency market warms up, with relatively small fluctuations, reflecting investors' continued recovery of confidence in compliant leading exchanges, with a current market cap of around $66 billion.

The reasons for the Federal Reserve's decision to remain on hold for four consecutive times include the following points:

Inflation factors: Although inflation has eased somewhat, it remains above the Federal Reserve's 2% target. For example, the core PCE inflation rate in May was 4.7%, up from 4.6% in April, indicating that inflationary pressures still have resilience, which makes the Federal Reserve cautious about interest rate cuts. Federal Reserve officials are not confident about a sustained decline in inflation, and several have stated that they will not support adjusting interest rates until inflation consistently trends down towards the 2% target.

Labor market: Although there are some signs of cooling in the U.S. labor market, it remains relatively robust overall. Non-farm employment increased by 139,000 in May, better than market expectations, and the unemployment rate held steady at 4.2%, which somewhat supports the decision to maintain interest rates.

Economic growth expectations: The Federal Reserve anticipates a slowdown in economic growth by 2025, primarily influenced by consumption and investment spending. In the face of economic uncertainty, maintaining stable interest rates helps provide a certain level of stability to the economy, avoiding adverse effects from interest rate fluctuations.

External uncertainties: The inconsistent tariff policies of the Trump administration have introduced uncertainties into prices, potentially driving up inflation and also possibly suppressing economic growth. At the same time, Israel's attacks on Iranian nuclear facilities have created uncertainty for the global economy; in this context, the Federal Reserve tends to keep interest rates stable to observe the development of the situation.

On June 19, 2023, the Federal Reserve maintained the benchmark interest rate at 4.25%-4.50%, marking the fourth consecutive meeting where it held steady, in line with market expectations.

Reason Analysis

- Employment Stability: Non-farm employment in May exceeded expectations, with the unemployment rate stable at 4.2%, alleviating recession concerns.
- High Inflation: The core PCE inflation rate in May was 4.7%, above the Federal Reserve's 2% target, indicating persistent inflation.
- Slowing Growth: The Federal Reserve projects that economic growth will slow in 2025 due to impacts on consumer and investment spending.

Market Impact

- Stable Capital Flows: There are no significant changes in global capital flow patterns, with no noticeable risks of inflows or outflows in emerging markets.
- Positive for US Stocks: The market has already priced in the no-rate-hike expectation, easing short-term uncertainty, leading to a rise in US stocks.
- Limited Impact on A-shares: There is short-term pressure on interest rate-sensitive sectors of A-shares, but A-shares are primarily driven by domestic factors.

Future Outlook

It is predicted that the first rate cut may occur on September 18, 2025, with two rate cuts expected within the year, bringing the end-of-year rate to 3.75%-4.00%. However, the actual trajectory will depend on US economic data, inflation trends, and global economic and geopolitical factors.

What is the difference between using $SERAPH on the alpha exchange and in a wallet! Where is it more suitable to use! The day before yesterday, a transaction incurred a loss of 84 dollars. I see everyone talking about SERAPH saying the loss is small, any suggestions!