币世界中本聪 Satoshi Nakamoto

On Monday, U.S. stock indices opened, with the Nasdaq slightly up 0.06%, the S&P 500 index rising 0.2%, and the Dow Jones index up 0.5%. Morgan Stanley stated that uncertainty surrounding U.S. tariffs, especially repeated changes, has led capital to shift to non-U.S. assets. This Thursday, the Bank of Japan will announce its interest rate decision, with the market expecting 0.5%, the same as the previous value.
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TheBlock reported that two bills (Arizona Strategic BTC Reserve Bill) passed the final vote in the House of Representatives, awaiting Governor Katie Hobbs' signature. Arizona may become the first state in the U.S. to require public funds to invest in BTC. Among them, Bill SB 1373 proposes to establish a digital asset strategic reserve fund managed by the state treasurer, with funding sources including seized assets and legislative appropriations, allowing up to 10% of the fund to be invested in BTC and other digital assets each fiscal year. Bill SB 1025 allows the state treasury and pension systems to invest up to 10% of available funds in digital assets, focusing on BTC. Currently, several states, including Iowa, Missouri, and Texas, are considering whether to establish BTC reserves. Elon Musk posted on social media that the early test version of Grok 3.5 will be released next week, exclusively for SuperGrok subscribers. Bloomberg ETF analyst James Seyffart stated that the listing date for ProShares' XRP ETF has not yet been determined. According to CoinGecko data, 100 days into Trump's presidency, the crypto market has evaporated $537 billion in market value. ETH founder Vitalik Buterin stated that the ETH Foundation (EF) has set two main goals: the primary goal is to enhance the utilization rate of ETH, particularly emphasizing user scenarios that allow real benefits from ETH's underlying properties; the second is to comprehensively enhance ETH's resilience and decentralization, focusing on identifying and addressing potential weaknesses across various layers of the tech stack.

On Monday, US stock indices opened, with the Nasdaq down 1.3% during the session, the S&P 500 down 0.9%, and the Dow Jones down 0.4%. Gold rose 0.56% to $3,335 per ounce. Key data to watch this week: On Wednesday, Q1 US GDP previous value 2.4%, expected value 0.4%, with market expectations of a significant decline; on Friday, US non-farm employment previous value 228,000, expected value 135,000. The outlook for US economic and employment data is relatively poor.
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The Wall Street Journal: Kevin Warsh, a leading candidate for the Federal Reserve, stated that when the outcomes of monetary policy are poor, the Fed should accept rigorous questioning and strong oversight, and take responsibility when mistakes are made. The current predicament of the Fed is largely self-inflicted. To regain credibility, restore its position, and most importantly, avoid worse economic outcomes for citizens, a strategic reset is necessary. SEC member and head of the crypto asset working group Hester Peirce stated at the SEC’s 'Know Your Custodian' meeting that the current regulatory environment for US crypto assets is akin to playing a game of 'the floor is lava' in the dark, and there is an urgent need to establish clear compliance channels to provide guidance for crypto asset custody and trading to promote healthy market development. According to the Hong Kong Wen Wei Po, the Hong Kong police received nearly 100 reports of investment fraud in the past week, with total losses exceeding HKD 90 million, urging vigilance against low-risk, high-return investment scams on social platforms. Bloomberg: Elon Musk's AI startup xAI plans to raise $20 billion, potentially becoming the second-largest startup financing in history, second only to OpenAI's $40 billion financing earlier this year. On April 28, the crypto fear and greed index was at 54, indicating a return of neutral market sentiment.

After Trump softened his stance on tariffs and Powell's position. On Wednesday, the Nasdaq index rose 3.5% during the session, the S&P 500 index rose 2.5%, and the Dow Jones index rose 2.1%. Gold fell 2.4% to $3,300 per ounce. Tesla's financial report stated that as of March 31, Tesla currently holds 11,509 Bitcoin on its balance sheet.
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Musk posted: "I am not 'leaving', it’s just that DOGE has been established, and I am allocating less time to it now." On Wednesday, Musk stated that the work in the efficiency department (DOGE) is very important. He will return to Tesla in May, and the time allocated to the DOGE department will be greatly reduced. Cointelegraph reported that the European Central Bank (ECB) expressed concerns about the aggressive policies supporting the cryptocurrency industry in the U.S., warning that the surge in dollar-pegged stablecoins could undermine the stability of the European financial system. Trump stated that the cryptocurrency industry urgently needs clear regulatory policies. SEC Chief Paul Atkins is the best candidate to ensure regulatory certainty for cryptocurrencies. On April 22, Musk shared an image of economist Milton Friedman with BTC laser eyes, captioning it "The best economist in history." BTC's market cap surpassed Alphabet (Google) at $1.86 trillion, ranking fifth among global mainstream assets. Matrixport stated that as market concerns over Trump's tariff comments ease, the likelihood of surpassing $95,000 is increasing, with BTC currently showing a certain upward trend.

On Monday, the Nasdaq index fell 3.5% during trading, the S&P 500 index fell 3.3%, and the Dow Jones index fell 3.2%; the dollar index has consecutively fallen below 100, 99, and 98 points; gold prices surged by 3% to $3,430 per ounce. Bitcoin briefly aligned with gold's safe haven narrative on Monday. Trump continues to criticize Fed chair Powell, saying: 'Mr. Late' (Powell); a major loser, should cut rates now; Powell is always late; if Powell knew what he was doing, rates would have been cut long ago.
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The European Central Bank (ECB) report predicts that the digital euro will replace some circulating banknotes, fundamentally changing how Europeans use money, and bank deposits will also be affected. Europe is actively promoting the digital euro in response to the rise of dollar stablecoins and other cryptocurrencies. ECB Executive Board member Fabio Panetta emphasized: The digital euro will curb the expansion of these de-banking solutions, which is precisely why we need it. The Texas House of Representatives will hold a public hearing on the (BTC Strategic Reserve and Investment Act) on April 23. The (Strategic Digital Asset Reserve Act) (abbreviated SB 1373) in Arizona has passed the House committee. Currently, the bill still needs to undergo three readings and a full vote before it can be sent to the governor for final approval. Coinmarketcap data shows the market is slightly warming, with the altcoin season index rising from a recent low of 14 on Trump's tariff day to 18, but still significantly lower than the March average of 32 and the February average of 43. Japanese listed company Metaplanet Inc. announced an increase of 330 BTC, now holding a total of 4,855 BTC. Glassnode data shows that addresses holding more than 1,000 BTC have increased from 2,037 at the end of February to 2,107 on April 15, nearing the levels of November to December 2024; addresses holding less than 10 BTC continue to decrease.

On April 17, the European Central Bank (ECB) cut interest rates by 25 basis points as expected, marking the seventh rate cut in the past year, with traders anticipating three more cuts from the ECB this year. Trump continues to speak out, harshly criticizing Powell's interest rate policy as 'always too late and wrong,' stating that firing Powell is urgent, and the market is watching whether Powell will adjust policy under pressure.
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The U.S. Department of Justice (DOJ) has stated that it will re-examine a practice: how to compensate investors at a price below the current market value after digital assets are seized in cases involving fraud and theft. Many of these cases have led to investor losses in digital assets due to 'fraud and theft.' The DOJ pointed out that the value of these digital assets has increased significantly in the following years, and current U.S. bankruptcy regulations stipulate that seized assets should be returned to victims at the dollar value at the time of the fraud. Federal Reserve Chair Powell stated in an interview with the Chicago Economic Club that there may be a relaxation of regulatory restrictions on U.S. banks engaging in cryptocurrency business in the future, promoting moderate innovation, and noted that the current industry environment has become mainstream, having previously implemented quite conservative regulatory guidelines on banks, while other banking regulatory bodies were even stricter. The two chambers of the U.S. Congress are rapidly advancing the legislative framework for stablecoins. Related bills in both the House of Representatives and the Senate have passed committee review, and Trump expressed hope for a quick signature to make them law. The BTC reserve bill HB 92 in North Carolina has been passed by the House Pension and Retirement Committee. Before a full vote, the bill still needs to pass through three committees: Rules, Agenda, and House Operations.

In the early hours of Thursday, Powell stated in his speech: the level of tariffs has exceeded the Federal Reserve's upward expectations, and the market is digesting a historically rare event, with market volatility expected to continue; if a shortage of dollars occurs, the Federal Reserve is prepared to provide dollars to global central banks. During Powell's remarks, US stock indices deepened their declines, with the Nasdaq down 3.5%, the S&P 500 index down 2.3%, and the Dow Jones index down 1.5%; gold rose to $3338 per ounce, up more than 3.3%. US Treasury Secretary Basant previously stated that they are considering successors to Federal Reserve head Powell, with interviews for candidates beginning in the fall.

On Monday, U.S. stock indices opened, with the Nasdaq intraday up 0.8%, the S&P 500 up 0.95%, and the Dow Jones Index up 0.8%, while gold prices surged to a new high of $3,245 per ounce. Federal Reserve Governor Waller stated: In a scenario with smaller tariffs, interest rate cuts may occur in the second half of the year; in a scenario with large tariffs, if significant economic slowdown happens, there is a tendency to cut rates earlier and more significantly than previously thought.
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U.S. Senator Tim Scott expects that the cryptocurrency market structure bill will become law by August 2025. The Senate Banking Committee has advanced a comprehensive stablecoin regulatory bill, the 'GENIUS Act', in March 2025, indicating that the committee prioritizes crypto policy and that innovation should proceed before regulation to ensure the U.S. digital asset dominance. Acting SEC Chair Mark Uyeda stated that the agency may consider establishing a short-term crypto regulatory framework to allow businesses to continue innovating while the agency develops more permanent answers for digital asset regulation, facilitating greater innovation in blockchain technology. OpenAI announced on its website that starting April 30, GPT-4 will be 'completely replaced' by GPT-4o, but GPT-4 will continue to be available through the API. BlackRock's BUIDL fund has reached $2.372 billion, with a weekly increase of 25.07%. Tether CEO Paolo Ardoino stated that in Q1 2025, the number of users of its stablecoin grew by 13%. Japanese listed company Metaplanet Inc. announced an increase of 319 BTC. Cointelegraph reported that Bo Hines, Executive Director of the White House President's Digital Asset Working Group, said, 'We need to hoard BTC as soon as possible before it becomes more expensive.' Tether issued an additional $1 billion in stablecoins on April 12.

U.S. inflation data shows: March CPI inflation at 2.4%, below the expected 2.6% and the previous 2.8%; March PPI price index at 2.7%, below the expected 3.3% and previous 3.2%. The core CPI year-on-year rate for March was 2.8%, the lowest in four years. March's CPI month-on-month rate was -0.1%, unexpectedly recording a negative value, the lowest level since May 2020. On Friday, gold rose to $3,240 per ounce, hitting a new historical high; the Nasdaq index rose by 1.3% during the day. The dollar index DXY plunged 60 points, falling below the 100 mark for the first time since July 2023.

Technologies data shows that from April 2 to Monday, short sellers targeting US companies made a paper profit of $127 billion. From early 2025 to Monday, short-sellers targeting companies with a market value of $1 billion or more in the US earned $189 billion. On Wednesday evening, US stock indices opened higher, with the Nasdaq rising nearly 8.8%, the S&P 500 rising 7.3%, the Dow Jones rising 6.5%, and gold prices soaring 3.5% to $3090/ounce. News trends and hot searches are frequent, full of twists and turns.
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According to (Fortune), the US Department of Justice released an official statement on cryptocurrency law, stating that developers will not be held responsible, while criminals using the code will be held accountable. This clarifies that developers are not responsible for the misuse of the code by criminals, and law enforcement will focus on actual criminal activities such as fraud and terrorism financing. A memo from the US Department of Justice shows that the department has disbanded its national cryptocurrency enforcement team and will largely stop regulatory oversight of cryptocurrency trading platforms and offline wallets. The Australian Federal Court has approved an application by the Australian Securities Regulator to close 95 companies suspected of operating cryptocurrency trading and romance scams known as "hydra". The nature of these scams seems to follow a common "pig butchering" pattern. Wedbush analysts stated that the economic pain brought by tariffs is hard to describe, and during this process, the US technology industry may regress by 10 years, which is entirely caused by Trump and based on erroneous logic. Ripple announced the acquisition of Hidden Road Partners for $1.25 billion, entering the multi-asset institutional brokerage space. On April 9, the cryptocurrency fear and greed index was at 18 (down from 24 yesterday), indicating extreme fear. Teucrium launched the first US 2x leveraged ETF related to XRP (XXRP), and may soon trade XRP futures or other related instruments to provide the market with the desired XRP exposure. Coinglass data shows that on April 8, CEX had a cumulative net outflow of 5065.73 BTC. BlockBeats reported that a16z is seeking to raise $20 billion for its largest fund ever. ARK Invest has increased its holdings of CB stocks worth $26.6 million since April 2.

U.S. stock index futures have fallen over 15% cumulatively for three consecutive days. Last week, the Nasdaq index dropped over 10%. According to The Kobeissi Letter data, the U.S. stock market lost $11.1 trillion in 44 trading days, roughly equivalent to 38% of the U.S. GDP. Goldman Sachs has lowered its U.S. GDP growth forecast for the fourth quarter of 2025 to 0.5%, raising the probability of a recession over the next 12 months from 35% to 45%. TD Securities has joined Goldman Sachs and UBS Global Wealth Management in anticipating an earlier easing of U.S. policy, expecting the committee to cut rates at each meeting after June until May 2026.

On April 3, Trump announced a 10% blanket tariff on all imported goods and additional tariffs on dozens of countries/regions. The U.S. will implement a 20% retaliatory tariff on the EU country by country and a 24% tariff on goods imported from Japan. The White House stated that the baseline tariff rate (10%) will take effect on April 5 at midnight, while the so-called 'reciprocal tariffs' will take effect on April 9 at midnight. Following the announcement of Trump's tariffs, U.S. short-term interest rate futures pricing indicated that the Federal Reserve is expected to make four interest rate cuts this year, starting in June.
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Data released on Wednesday showed that the U.S. ADP employment number for March was 155,000, higher than the expected 115,000 and the previous value of 77,000. Analyst Adam Button noted that the March ADP data is a nice rebound considering the poor data from February. U.S. stock indices opened low and rose, with the Nasdaq index opening down 1.5% but gaining 1% during the day, while the S&P 500 index increased 0.6%.
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French Hill, the chairman of the U.S. House Financial Services Committee, rejected a proposal to allow interest payments on stablecoin holdings. Hill stated, 'While I understand this viewpoint, Congress has not yet reached a consensus on interest payments to holders of dollar-collateralized stablecoins.' Regardless of how quickly its influence grows, it remains a novelty for most people. Cointelegraph reported that six digital economy trade organizations in the UK are calling for the appointment of a dedicated envoy for blockchain and crypto asset affairs and for an exclusive action plan to promote investment, growth, and employment in the industry. Trump has established a head for crypto affairs in the U.S. and is increasing investment in crypto policy, suggesting that the UK can seize global competitive opportunities through trade agreements with the U.S. in technology cooperation, establishing a leading position in the digital asset and fintech sectors. CNBC reported that OpenAI has completed a $40 billion financing round led by SoftBank, with a post-funding valuation of $300 billion. Stablecoin issuer Circle submitted an S-1 filing with the U.S. Securities and Exchange Commission to initiate an initial public offering (IPO) process, targeting a valuation of $4 billion to $5 billion. Sony Electronics Singapore announced that its online store now supports stablecoin payments, with plans to increase support for other cryptocurrencies in the future. Japanese listed company Metaplanet Inc. announced an additional purchase of 160 BTC, raising its total holdings to 4,206 BTC, with an average price of approximately $86,267. Nate Geraci, president of The ETF Store, predicts that index-based cryptocurrency ETFs will be approved by the end of the year (if not sooner).

On Monday, the Nasdaq index fell by 0.5% during the day, the S&P 500 index rose by 0.25%, and the Dow Jones index rose by 0.77%. The gold price broke through $3,100 to $3,127 per ounce, having doubled since 2022. Goldman Sachs expects that both the Federal Reserve and the European Central Bank will cut interest rates three times this year. The Federal Reserve is expected to cut rates in July, September, and November, while the European Central Bank is expected to cut rates in April, June, and July. Currently, the probability of the Federal Reserve maintaining interest rates unchanged until June is only 23.3%, with a cumulative probability of cutting rates by 25 basis points at 64.7%, and a cumulative probability of cutting rates by 50 basis points at 12%.

U.S. data released on Friday showed: The annual core PCE price index for February was 2.8%, higher than the expected 2.70%, with the previous value revised from 2.60% to 2.7%. The annual PCE price index for February was 2.5%, in line with the expected 2.50%, unchanged from the previous value of 2.50%. Among these, the annual core PCE price index for February was 2.8%, the highest since December 2024. Gold reached a new historical high of 3086.66 dollars per ounce, rising nearly 1% during the day. UBS has lowered its S&P 500 index target for the end of 2025 from 6600 points to 6400 points (the current S&P 500 index is at 5585 points).
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During the hearing by the U.S. Senate Banking Committee on the nomination of Paul Atkins to serve as the head of the U.S. Securities and Exchange Commission (SEC), Atkins stated: Digital assets are a top priority this year, and establishing feasible rules and regulatory clarity for cryptocurrencies will unleash innovation in the U.S., open new markets for investors, and enhance the U.S.'s position as a global leader in technology and finance. Bitcoin Laws reported: The South Carolina BTC Reserve Bill (H4256) will allow the state treasurer to invest 10% of state funds in BTC, with a BTC reserve cap of 1 million BTC. This bill was proposed by Representative Jordan Pace. The U.S. Senate passed a resolution by a vote of 70 to 28 to repeal the controversial cryptocurrency tax regulations from the Biden administration; the bill will be submitted for Trump's signature. This rule previously required certain DeFi platforms to report user trading information as securities brokers and issue 1099 forms, raising privacy and compliance concerns. BlackRock's BUIDL fund surpassed 1.9 billion dollars, with a 203.63% increase over the past 30 days. The French state bank Bpifrance launched a 25 million euro fund to invest in emerging crypto tokens in France. The French company Blockchain Group increased its holdings of 580 BTC for approximately 47.3 million euros. Terra stated that its creditor claims portal is expected to open on March 31, with a submission deadline of April 30.

As the April 2 deadline for Trump's so-called tariffs approaches, the market is closely watching how related policies will affect market conditions. On Wednesday, U.S. stock indices opened, with the Nasdaq index down 2.2% during the day, the S&P 500 index down 1.3%, and the Dow Jones index down 0.45%. The average annualized return of the S&P 500 index in the second quarter is 19.6%, with April’s performance second only to December. BTC is highly correlated with U.S. stock indices, showing similar performance.
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The U.S. Securities and Exchange Commission (SEC) stated: The SEC's cryptocurrency working group will hold four new roundtable discussions from April to June 2025, covering topics such as crypto trading, custody, asset tokenization, and DeFi. Commissioner Hester Peirce referred to this as a 'spring sprint towards crypto clarity,' marking a new direction for the SEC toward cooperation and a clear regulatory framework. The meetings will be open to the public and streamed online. FOX Business reporter Eleanor Terrett stated that the U.S. Senate plans to hold a final vote on Thursday to repeal the IRS's decentralized finance (DeFi) broker rules. This vote will be the last step before the resolution is sent to Trump for signing, with the signing potentially occurring as early as Friday. The Federal Deposit Insurance Corporation (FDIC) is following the approach of the Office of the Comptroller of the Currency by removing 'reputational risk' from its regulatory standards. Previously, this factor was used to justify the withdrawal of banking services from legitimate businesses, including cryptocurrencies. On March 25, BlackRock launched its BTC ETF in the European market, the iShares Bitcoin ETP (IB1T GY and IB1T FP). Santiment stated that during the rebound of BTC from $77,500 to about $88,350, the number of addresses holding 100 to 10,000 BTC increased from 16,600 to 17,889. As usual, with whales starting to accumulate again, the market began to improve. CZ stated: Technical trends are easier to see than prices; with a little understanding and patience, there are many opportunities for long-term growth and wealth.

The Federal Reserve announced a slowdown in quantitative tightening (QT) in April, interpreted as a signal of de facto easing. Powell's dovish remarks calmed market sentiment. On Monday, U.S. stock indices opened, with the Nasdaq rising 2% during the session, the S&P 500 rising 1.4%, and the Dow Jones rising 1%. Last week, the S&P 500 rose 0.51%, ending a four-week losing streak; the Nasdaq slightly rose 0.17%, ending a four-week losing streak. The probability that the Fed will maintain interest rates until June is only 18.1%, while the probability of cumulative rate cuts of 25 to 50 basis points is 81.9%.
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The Federal Reserve's audited financial report shows that the Fed's operational loss for the entire year of 2024 reached $77.6 billion, marking a huge loss for the second consecutive year. Analysts believe that the main reason for the Fed's massive losses is the aggressive interest rate hikes from 2022 to 2023. When the Fed can return to profitability depends on its subsequent rate-cutting path. The New York Fed's forecasts indicate that if short-term interest rates remain above 4%, the Fed will continue to incur losses this year; if rates continue to decline, the Fed may achieve profitability. The International Monetary Fund (IMF) released the seventh edition of the Balance of Payments Manual (BPM7) on March 20, which for the first time includes digital assets such as cryptocurrencies in its global economic reporting framework, classifying them further based on whether they carry related liabilities: unbacked assets like BTC are classified as non-productive non-financial assets, categorized under the capital account; stablecoins and other liability-backed digital currencies are viewed as financial instruments; platform tokens like ETH and SOL may be classified as equity-like instruments; staking and cryptocurrency yield activities are considered sources of dividend income; mining and staking-related services are recognized as exportable computer services. Fidelity will launch a tokenized fund investing in U.S. Treasury bonds, competing with BlackRock's BUILD. Last Saturday, the ETH network only destroyed 53.07 ETH in a single day, marking an all-time low, indicating a significant decrease in demand for ETH block space.

At the March 20 Federal Reserve meeting, interest rates were maintained at 4.25 - 4.5%, with the dot plot indicating expectations of two rate cuts in 2025 and two rate cuts in 2026, each by 25 basis points. Beginning in April, the pace of balance sheet reduction will slow, reducing the scale of Treasury bonds from $25 billion to $5 billion. Powell stated that the baseline forecast is that inflation will be temporary, and the Federal Reserve needs to take a wait-and-see approach based on data. Slowing the balance sheet reduction is a technical adjustment, and the Fed is at a stage where it can either cut rates or maintain the current policy.
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Missouri BTC Reserve Bill HB1217 has been submitted to the House Special Committee on Governmental Affairs. This is one of the slower-moving state-level strategic BTC reserve (SBR) bills, now entering the committee stage six weeks after its introduction. The US stock exchanges Nasdaq and the New York Stock Exchange are pushing for all-day trading services, applying for five or even seven days a week to meet global investor demand. Nasdaq's head of U.S. equities and ETF trading, Giang Bui, stated at the New York Digital Assets Summit that the market is moving in this direction, as they have become accustomed to 24/7 cryptocurrency trading. Nasdaq has begun communicating with regulators, while the NYSE has received approval to extend trading hours. The U.S. Securities and Exchange Commission (SEC) released a statement regarding certain proof-of-work mining activities, asserting that individual and collective (so-called proof-of-work types) mining activities are not considered securities trading. According to Coinmarketcap data, the altcoin season index recently hit a low of 13, the lowest level since September 3, 2024, and has since rebounded to 21, still significantly down from the February average of 43 points. Tether CEO Paolo Ardoino stated that Tether was the seventh-largest buyer of U.S. Treasury bonds in 2024, purchasing a total of $33.1 billion in U.S. debt. On March 21, the cryptocurrency fear and greed index dropped to 31, with last week's average at 27, indicating that market sentiment remains in a state of 'fear.'

This week is Super Week for central banks, with the Federal Reserve, Japan, the UK, Switzerland, Sweden, and other central banks announcing interest rate decisions successively. Among these, the Federal Reserve, Japan, and the Bank of England are very likely to maintain interest rates. As of last Friday, the Nasdaq index and S&P 500 index have declined for four consecutive weeks. The market is looking forward to a dovish Federal Reserve; on Monday, the Nasdaq rose by 0.86% during trading, and the S&P 500 rose by 1%, with gold once again touching a high of $3,000 per ounce.
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NVIDIA's GTC Conference 2025 will open on March 17, with CEO Jensen Huang's keynote speech scheduled for March 18. The conference will involve 1,000 sessions, 2,000 speakers, and nearly 400 exhibitors. The Governor of the Bank of France, François Villeroy, stated that Trump's embrace of cryptocurrencies could trigger another financial crisis, as the U.S. is making a grave mistake by encouraging cryptocurrencies and non-bank finance. South Korean Economic TV reported that the Bank of Korea has clearly stated that it has never considered including BTC in its foreign exchange reserves, primarily due to the high volatility of BTC prices. According to Alternative Data, on March 17, the Cryptocurrency Fear & Greed Index saw a slight recovery, rising from 30 yesterday to 32, maintaining a 'fear' status, with last week's average at 20 (extreme fear). FalconX completed the CME's first block trade in Solana futures, paving the way for a potential spot ETF. CME follows the traditional path of 'futures first, then ETF' (as seen with BTC and ETH). Institutions such as Franklin Templeton, Grayscale, and 21Shares have submitted applications for spot Solana ETFs to the SEC. Circle's minting of stablecoins on the Solana chain reached approximately $10 billion by 2025. The total market cap of stablecoins increased by 0.91% in the past week, reaching $229.334 billion. Analyst Ali reported that in the past week, BTC whale groups have accumulated over 60,000 BTC.

On March 14, gold broke through $3000/ounce, reaching a new historical high, with an increase of over 14% this year. The total market capitalization of gold surpassed $22 trillion. The Nasdaq index rose by 2.4%, the S&P 500 increased by 2%, and the Dow Jones index went up by 1.5%. The Federal Reserve's monetary policy meeting next Wednesday will determine whether to halt the balance sheet reduction.
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Decrypt reports that the U.S. Treasury Department met with executives from three cryptocurrency custody companies this week to discuss how to safeguard the U.S. BTC reserves. The Treasury is currently in the research phase and has not yet formed a clear stance, actively consulting industry insiders. Currently, it leans towards having a third-party institution manage U.S. BTC reserves, with the long-term goal of the U.S. government ultimately achieving self-custody. CoinDesk reports that the U.S. Senate Banking Committee has advanced a regulatory bill for stablecoins in the cryptocurrency industry, which now needs to pass the overall Senate, while the House of Representatives has a similar version waiting for approval. This is an important first step in sending the bill to Trump for signature to become law. U.S. Congressman Byron Donalds plans to submit a legislative proposal to formally legislate Trump's recent executive order aimed at establishing a strategic BTC reserve and U.S. digital asset reserves. If the bill is approved, it will ensure that the policy cannot be rescinded by future presidential executive orders. The cryptocurrency bill HB701 in Kentucky has passed the Senate and is awaiting the governor's signature. This bill protects custody rights, exempts nodes from currency transmission rules, and prohibits imposing new taxes on payments. The bill passed both houses without a single opposing vote. The U.S. Securities and Exchange Commission (SEC) confirmed receipt of Fidelity's ETH ETF staking proposal and Franklin's ETH ETF staking proposal. Cb Chief Legal Officer Paul Grewal stated that Vermont has withdrawn its lawsuit against Cb regarding staking services today, as we have always said, staking services are not securities, and Congress must pass comprehensive legislation that takes into account the new functions of digital assets (such as staking).

1. U.S. February Inflation Data Situation
Wednesday's U.S. inflation data shows:
February CPI annual rate is 2.8%, lower than the expected value of 2.90% and lower than the previous value of 3.00%;
February core CPI annual rate is 3.1%, lower than the expected value of 3.20% and lower than the previous value of 3.30%;
February CPI month-on-month rate is 0.2%, lower than the expected value of 0.30% and lower than the previous value of 0.50%.
The U.S. February CPI inflation data is broadly below expectations, with the CPI annual rate at a new low since last November;
CPI inflation decline has brought some much-needed relief to U.S. stock indices and provided space for the Federal Reserve to lower interest rates. The Nasdaq index rose 1.2% intraday, and the S&P 500 index rose 0.6%.