少年哥行独伴大道

At breakfast on Tuesday (August 1), Bitcoin fell below $29,000 in the short term, and short sentiment quickly gathered. A New York judge made it clear that he rejected another judge's previous ruling that "Ripple is not a security", and Ripple's lawsuit for violating securities laws once again ran into big trouble. Coinbase CEO Brian Armstrong disclosed earlier this week that he had received an order from the U.S. Securities and Exchange Commission to halt all cryptocurrency trading other than Bitcoin.

“Ripple is not a security” is in big trouble again

The SEC's lawsuit against Terraform Labs continues, with Judge Jed Rakoff of the Southern District of New York on Monday denying the company's motion to dismiss the SEC's appeal. In issuing the order, the judge also rejected a ruling by another judge that ruled that the way XRP was sold did not violate securities laws. You know, this will have a profound impact on the encryption market. Once Ripple returns to the definition of "non-security", it is likely that Ethereum and other altcoins will face the risk of being classified as "security."

Yat Siu, co-founder of Hong Kong gaming software company Animoca, spoke at the Ethereum Community Conference (EthCC) on Wednesday (July 19), mentioning Hong Kong’s rapid adoption of cryptocurrency and Web3 as a sign of big moves in China. He pointed out that the market should not underestimate the Web3 white paper released by China. As rumors of China unblocking Bitcoin are rampant, many Chinese state-owned enterprise executives have stated that they will continue to oppose the existence of Bitcoin.

Siu said that China released the Web3 white paper in May, which basically stated that Web3 is the future of the Internet. The executive stressed that the news should not be underestimated and comes just days after Hong Kong officially announced plans to allow retail cryptocurrency investment. He said: "Although China's Web3 white paper does not mention cryptocurrency, it is still important for China to set a budget to promote Web3."

Bitcoin recovered slightly to the $26,000 level, but failed to truly recover from the overnight plunge. The U.S. Securities and Exchange Commission (SEC) postponed the ruling deadline for seven Bitcoin spot ETFs, causing the previous positive sentiment of Greyscale's victory to dissipate. However, there are two positive news from the fundamentals of Bitcoin. Thailand has rarely staged a "big money distribution" and will issue a total of US$16 billion in digital assets to all citizens over the age of 16 to promote the national economy. JPMorgan Chase’s registered trademark was exposed, and it was rumored that it planned to open a crypto exchange.

U.S. Securities and Exchange Commission: Delaying ruling deadlines for 7 Bitcoin spot ETFs

Argentina is in serious inflation troubles. Economist Carlos Perez warned that the country's inflation rate will reach 147% in 2023, and people urgently need alternatives to avoid asset shrinkage. He continued to look forward to the fact that the country’s presidential candidate Javier Milei also advocates Bitcoin. If he is successfully elected, Bitcoin will be legalized, which will set off a wave of skyrocketing prices.

David Puell, a research assistant at Ark Investment under "Stock Goddess" Cathie Wood, released an investor report on Monday (August 28). He said that El Salvador's Bitcoin adoption rate is very low and even lags behind Argentina. Since being established as El Salvador's legal tender in 2001, the U.S. dollar has helped the country avoid an inflationary disaster and provided a more stable and trustworthy currency system.

U.S. House Financial Services Committee Chairman Patrick McHenry and two congressional lawmakers sent a letter to Federal Reserve Chairman Powell, collectively condemning him for undermining the progress made by Congress in legislating to establish a regulatory framework for payment stablecoins and preventing banks from entering the cryptocurrency ecosystem. lock up. The U.S. Securities and Exchange Commission (SEC) also made a rare move to identify non-fungible tokens (NFTs) as "securities" and issued a cease and desist order to the U.S. company Impact Theory for the first time, accusing the NFTs it launched of violating the 1993 Securities Act.

U.S. lawmakers collectively condemned Powell: preventing banks from entering the crypto ecosystem

The crash of Yevgeny Prigozhin, the leader of the Russian mercenary organization Wagner Group, spread throughout the crypto community. In view of his previous bad relations with Russian President Vladimir Putin, US President Biden suggested that Putin may be behind the plane crash. Black hands, but there is no final investigation result yet. Foreign media pointed out that Prigozhin is likely to be the fifth whale holding 100,000 Bitcoins. His death means that this fund will disappear, and he has previously launched a series of illegal activities through Bitcoin. Business practices will also be buried forever.

In early Asian trading on Wednesday (August 23), the U.S. dollar index continued to pull the brakes and rebound overnight, trading at 103.57. Bulls challenged the upward trend, but trading was cautious before Fed Chairman Powell's speech. The S&P Global PMI makes a grand debut, with the index expected to remain at 52. Gold became an unsupportable asset, falling below $1,900. Technical analysis warned that the trend structure was damaged and downward pressure continued. After the Bitcoin flash crash, the severe oversold generated by the RSI strengthened the V-shaped rebound signal.

The market remains generally cautious as China's central bank cut interest rates less than expected. On Wall Street, the Dow Jones fell 0.51%, the S&P 500 fell 0.28%, and the Nasdaq rose 0.06%, as caution continued to dominate. Concerns about China, combined with further S&P downgrades of U.S. banks and expectations of higher long-term interest rates, are putting downward pressure on market sentiment.

In early Asian trading on Tuesday (August 22), the U.S. dollar index fell slightly to 103.36. Gold suppressed the dollar's rise to $1,893. Gold price bulls continued to look toward $1,900. The Chinese central bank cut interest rates lower than expected, and the Federal Reserve released SCE labor market survey results, showing record wage expectations, which will stimulate and consolidate dollar shorts. The Bitcoin options market confirmed a lack of bearish momentum, with professional traders’ sentiment unaffected despite last week’s 11.4% correction.

The Federal Reserve Bank of New York released the SCE labor market survey results late Monday, showing record wage expectations, which may stimulate dollar shorts. "The minimum wage that respondents were willing to accept for a new job jumped to a record high in July, reaching $78,645, up from $72.873 a year ago," the survey results show.

Marko Kolanovic, chief global market strategist at JPMorgan, recently said that weak consumption will be one of the reasons for the continued decline of the U.S. stock market. As we all know, consumer spending is the "strongest pillar" of the U.S. economy.

He said in a newly released report that consumers have spent all the excess savings brought about by the epidemic, which once exceeded 2 trillion US dollars. That tailwind has now ended and consumer spending is likely to slow further as student loan payments resume in October, the bank said.

In 2023, China's Country Garden claimed to have encountered the biggest difficulty since its establishment and was making every effort to save itself. On August 3, the 13th Real Estate Brand Development Conference was held in Beijing. Although the conference emphasized the difficulties encountered by the real estate market, people are still full of expectations for the question "will housing prices fall?"

As of August 12, 2023, TRON has increased by 0.31% compared to the previous day. The increase in cryptocurrency is inseparable from Musk's control and the multi-functional use of cryptocurrency.#NFTand Cryptocurrency#

The downturn in the world economy has caused cryptocurrency to quickly enter the financial arena. In April 2023, the United States announced that the first cryptocurrency real estate trading platform was online, and its transactions could be completed quickly within one day. With this breakthrough, cryptocurrencies began to rise: Bitcoin rose 0.74% from August 7 to August 12, 2023, and cryptocurrencies such as Dogecoin were also optimistic. El Salvador uses cryptocurrency as a legal currency. From this point of view, cryptocurrency seems to have the potential to become a new payment method.

Bitcoin experienced its largest liquidation this year before the weekend, with more than 170,000 liquidations on the entire network and the price of the currency falling to US$26,500. Musk's SpaceX wrote down $373 million in Bitcoin in 2022 and 2021, and panic spread instantly. Coupled with the SEC’s appeal of the Ripple case, Bitcoin has entered deeply oversold territory. North Korean leader Kim Jong Un made $180 million from crypto hacking.

Musk sold

The Wall Street Journal quoted SpaceX financial documents on Thursday night and revealed that the company had written down a total of $373 million worth of Bitcoin it owned in 2022 and 2021, and subsequently sold out, but the detailed amount sold was uncertain. and time.

Bitcoin fell to $26,600 in Asia on Friday (August 18) amid the panic caused by Musk’s large-scale exit. However, Chinese miners have sent out major signals. Bitmain and Canaan have both hinted that they will launch a breakthrough mining machine in September, promising that investors will witness the debut of products that redefine the industry. Currently, the prices of many old mining machines are greatly reduced, which means that Bitcoin mining will usher in a mysterious and breakthrough new wave.

As a publicly traded Bitcoin mining machine manufacturer, Canaan is preparing to celebrate its 10th anniversary. On Thursday, the company revealed plans for an event in Singapore on September 12, 2023, aptly named Avalon Bitcoin & Crypto Day. The event is expected to be a hot spot for the Bitcoin mining giant, with Canaan highlighting the abundance of “insight exchanges, collaborative learning and networking avenues.”

On Monday (August 17) in the Asian market, Bitcoin fell to $28,606 due to the impact of the hawkish Federal Reserve FOMC minutes, and crypto funds returned to the U.S. dollar safe haven. There was a huge noise in the Asian market. The Singapore police arrested 10 suspects and accused them of participating in overseas organized criminal activities. They all held Chinese passports. China arrested and prosecuted four executives of Shenzhen Spacetime Cloud Technology, a Filecoin mining company, accusing them of making illegal profits of US$83 million, and nearly 100,000 people signed up to participate in the project.

Singapore seizes 10 Chinese passports. Monetary Authority: Abuse of financial system cannot be tolerated

According to the official Facebook page of the Singapore Police Force, the Singapore Police arrested 10 foreign suspects suspected of money laundering and forging documents, including 11 documents containing virtual asset information. The total value of the property involved was approximately 1 billion yuan. The origins of 10 people were believed to be Three of them are Chinese citizens in Fujian, China, and the rest hold Chinese passports but have different nationalities.

The market environment for legal currencies is gradually declining, and countries are actively promoting central bank digital currencies (CBDC). However, the clarion call for decentralized finance (DeFi) is ringing around the world, intensifying the urgency of supervision. The Monetary Authority of Singapore (MAS) announced that it has finalized the regulatory framework for stablecoins, and issuers must meet multiple requirements such as disclosure. Lee Ka-chiu, Chief Executive of the Hong Kong Special Administrative Region, said that he attaches great importance to the development of Web3 and is fully exploring the regulatory arrangements for stable currencies. Bank of America expects widespread adoption of the PYUSD U.S. dollar stablecoin launched by payments giant PayPal.

Monetary Authority of Singapore: Finalized regulatory framework for stablecoins

Chinese state media published an article on Tuesday (August 15) stating that the government is determined to cut off the cryptocurrency money laundering industry chain. Shanxi disclosed this week that it had cut off a criminal chain that used the purchase and sale of cigarettes and cryptocurrency to "launder money", involving a total of nearly 84 million yuan. Pingnan Court opened a hearing on the case of a pyramid scheme led by Shikong Yunlai on a certain airline, involving more than RMB 600 million.

According to the WeChat official account of the Shanxi Provincial Public Security Department, the Xinghualing Branch of the Taiyuan Public Security Bureau of Shanxi Province recently cut off a criminal chain that provided "money laundering" services to electronic fraud criminal gangs through buying and selling cigarettes and using cryptocurrency transactions, and arrested the suspect. There were 23 people involved in 43 electronic fraud cases, involving nearly 84 million yuan.

Pessimists concerned about the Fed's fight against inflation have focused on the so-called "last mile" problem, convinced that a full fall back to the Fed's 2% inflation target will take a recession and massive job losses to curb continued inflation. prices rise. History is arguably on their side, with academic studies and other surveys concluding that the levels of inflation over the past two years cannot be resolved without a recession. Prominent economists expect the U.S. unemployment rate to jump from the current 3.5% to between 5% and 10%, with millions of people losing their jobs.

As the 2024 U.S. election approaches and President Biden insists on opposing Bitcoin, many presidential candidates have revealed their holdings of Bitcoin and Ethereum in financial disclosures. Former President Donald Trump holds between US$250,000 and US$500,000 in ether, and Robert F. Kennedy Jr. has also confirmed that he holds between US$100,000 and US$250,000 in Bitcoin. The army of traditional American companies is accelerating its entry. Coca-Cola announced on Sunday (August 13) that it will list a series of non-fungible tokens (NFT) on Coinbase’s Base currency-free public chain.

Trump's recently released 2023 OGE financial disclosure document mentions an item known as a cryptocurrency wallet, thought to be worth between $250,000 and $500,000. The contents of the crypto wallet may be related to an NFT sale launched in December 2022 after he leaves the White House. The limited-edition NFT collection, which sold out within a day, included 44,000 digital trading cards featuring "Trump's likeness" in different outfits and poses.

At noon on August 14, Bitcoin continued to fluctuate in the range of $29,380, and bulls were still unable to firmly cross the key resistance of $30,000. Fed Now, the Federal Reserve's instant payment system known as the "digital dollar", is rumored to have been connected to USDC U.S. dollar stable currency payment, which means that there is no exclusion between the two. The Wall Street Journal also published an opinion article calling on the U.S. government to support U.S. dollar stablecoins, believing that this can strengthen the international status of the U.S. dollar. Four states in the United States have approved Musk's X payment license, and the market outlook is expected to integrate cryptocurrency payments.

“Digital dollar” system integrates USDT payment