张扬99

#美国稳定币法案 The United States has multiple proposals related to stablecoin legislation, the more well-known ones being the "Stablecoin Transparency and Accountability Promotion Act of 2025" ("STABLE Act of 2025") and the "Guiding and Establishing the United States National Stablecoin Innovation Act" ("GENIUS Act"). Below are the relevant introductions:

"STABLE Act of 2025"

• Proponents: Introduced by Representatives Bryan Steil and French Hill.

• Regulatory Focus: Focuses on payment stablecoins, specifying that they must be used as a means of payment or settlement, denominated in national currency, and that issuers must commit to fixed amount redemptions, among other conditions.

• Issuer Requirements: Includes approved insurance deposit institution subsidiaries, federally certified non-bank payment stablecoin issuers, and state-certified payment stablecoin issuers.

• Reserve Requirements: Issuers must hold reserves not less than 100% of the total outstanding stablecoins, such as U.S. dollar cash, Federal Reserve Bank deposits, and short-term U.S. Treasury securities.

• Regulatory Agencies: Office of the Comptroller of the Currency (OCC), U.S. Federal Reserve Board, Federal Deposit Insurance Corporation (FDIC), and National Credit Union Administration (NCUA), among others.

"GENIUS Act"

• Proponent: Introduced by Senator Bill Hagerty.

#加密市场回调 Cryptocurrency market correction refers to the short-term drop in cryptocurrency prices that occurs during an upward trend. Here are some introductions about it:

Reasons for Correction

• Profit Taking: Investors sell off to cash in on profits after the price of cryptocurrencies rises, triggering a price correction.

• Selling Pressure: Panic selling or negative news, such as stricter regulatory policies or hacking attacks, leads many investors to sell cryptocurrencies, resulting in a price drop.

• Technical Adjustment: After prices reach resistance levels or overbought conditions, the market naturally adjusts to digest previous gains.

• External Factors: External factors such as economic events, changes in government regulation, or shifts in market sentiment may also trigger a cryptocurrency market correction.

Impact of Correction

• Short-Term Volatility: Causes significant fluctuations in cryptocurrency prices in the short term, increasing market uncertainty.

• Investor Confidence: Severe corrections can damage investor confidence, leading to more selling behavior and further exacerbating market declines.

• Trading Opportunities: For prepared investors, corrections provide opportunities to buy at lower prices, as prices typically rebound after a correction.

The EU Privacy Coin Ban #欧盟隐私币禁令 is an important measure introduced by the EU to strengthen regulation over the cryptocurrency industry. Below is a detailed introduction to this ban:

• Relevant Regulation: The EU has officially passed the Anti-Money Laundering Regulation (AMLR), which stipulates that from July 1, 2027, all financial institutions are prohibited from providing anonymous cryptocurrency accounts or wallets with cryptocurrency service providers, and a complete ban on privacy coin transactions will be enforced.

• Prohibited Targets: This includes privacy coins with anonymity features such as Monero, Zcash, and Dash.

• Specific Requirements: Cryptocurrency transactions exceeding 1000 euros must undergo mandatory identity verification. Additionally, a new regulatory body, AMLA, will be established to directly supervise large cryptocurrency platforms.

• Reasons for Introduction: With the development of the cryptocurrency market, the anonymity of privacy coins has been exploited by criminals for illegal activities such as money laundering and terrorist financing. In recent years, illegal capital flows using privacy coins have shown an upward trend. To maintain financial stability and security and to combat criminal activities, the EU has decided to legislate to restrict privacy coin transactions.

The implementation of this ban will have a huge impact on the privacy coin market, and the entire cryptocurrency industry will face a more stringent regulatory environment. Some innovative projects that rely on privacy coins may be hindered, and certain privacy coins that fail to meet regulatory requirements may even be eliminated from the market.

On May 3, 2025, according to Decrypt, Apple updated its App Store review guidelines following a court ruling this week, easing restrictions on developers in the U.S. App Store. The new rules allow developers to offer external payment methods in their apps and support users in purchasing non-fungible tokens (NFTs) through third-party markets.

However, cryptocurrency apps still need to comply with strict Apple regulations, including a ban on offering reward tokens for completing tasks, a ban on Initial Coin Offerings (ICOs), and a ban on using user devices for mining.

The easing of these rules is primarily due to Apple's defeat in the Epic Games antitrust case, where the court ruled that Apple had "intentionally" violated a 2021 injunction, prohibiting it from charging a 27% fee on external app payments and restricting certain behaviors. Developers believe this will provide more experimental space for crypto-native mobile applications.

Strategy (formerly MicroStrategy) has been active in increasing its Bitcoin holdings recently.

According to its Q1 2025 financial report, as of April 28, the company's total Bitcoin holdings reached 553,555 coins, with Bitcoin gains amounting to $5.8 billion, and a year-to-date Bitcoin return of 13.7%. The company has raised its annual Bitcoin return target from 15% to 25%, and its revenue expectation from $10 billion to $15 billion.

On April 21, Strategy invested approximately $556 million to purchase 6,556 Bitcoins at an average price of $84,785 each. Previously, between March 17 and March 23, the company also spent about $584 million to acquire 6,911 Bitcoins, at an average purchase price of $84,529 per coin.

In addition to issuing bonds, Strategy continues to increase its Bitcoin holdings by raising funds through the issuance of preferred shares. The company views Bitcoin as a fair value asset, and despite facing risks from fluctuations in Bitcoin prices that could lead to unrealized gains volatility, it remains committed to its capital market strategy, demonstrating optimism about the future of Bitcoin.

#数字资产法案 Below are some recent pieces of information related to digital asset legislation that have garnered attention:

Arizona State, USA - Strategic Digital Asset Reserve Act (SB1373)

• Core Content: Allows the state treasury to invest up to 10% of public funds in digital assets such as Bitcoin. Establishes a "hybrid custody mechanism," with 50% of assets stored in the Federal Reserve System and 50% directly controlled by the state government with private keys. 30% of the digital asset profits are used to supplement the education fund.

• Legislative Motivation: The actual yield of the state pension fund has consistently been below the inflation rate, with low returns from traditional investment portfolios, while Bitcoin has shown high returns during the same period; utilizing the window of favorable cryptocurrency policies to link investments with "defending fiscal sovereignty"; the state has built a government-level blockchain platform to provide technical support for cryptocurrency custody.

Texas State, USA - SB-21 Bill

Allows $250 million to be allocated from the Economic Stabilization Fund to establish a Bitcoin reserve.

#空投防骗手册 Airdrop Scam Prevention Manual

1. Identify Common Scam Characteristics

• High Return Temptation: Claims of "zero-cost wealth" and "double returns".

• Request for Sensitive Information: Asking for private keys, mnemonic phrases, bank card passwords, etc.

• Forced Interaction: Demands for transfers, staking tokens, or downloading unknown apps.

• False Official Identity: Impersonating well-known projects/exchanges.

2. Core Principles of Scam Prevention

• Don't Be Greedy for Small Gains: Be wary of "no-threshold airdrops"; there is no free lunch.

• Protect Asset Privacy: Never disclose private keys/mnemonic phrases; officials will not ask for them proactively.

• Verify Source Authenticity: Confirm airdrop information through the project's official website and social media.

• Reject Unknown Links: Do not click on suspicious URLs in messages/emails/community.

3. Operational Pitfalls Avoidance Guide

1. Verify Project Qualifications: Check the project whitepaper, team background, and community activity to avoid participating in air coin projects.

2. Prioritize Small Amount Testing: When needing to transfer to "activate airdrop", first test with a very small amount (e.g., 0.001 tokens).

3. Be Wary of Wallet Authorization Risks: When authorizing DApps, only grant necessary permissions; avoid "full asset authorization".

4. Use Independent Wallets: Do not use wallets provided by the airdrop party; operate with your usual wallet.

4. Emergency Measures After Being Scammed

• Immediately disconnect from the internet, halt wallet operations.

• Transfer assets to a new wallet, change mnemonic phrase.

• Preserve evidence (screenshots, chat logs, etc.) and report to the platform or police.

Remember: Airdrops are essentially a marketing tool; rationally assess risks and stay away from the illusion of "money falling from the sky"!

Stablecoins like #稳定币日常支付 are cryptocurrencies pegged to fiat currencies (such as the US dollar), with relatively stable exchange rates that can be used for everyday payments.

Advantages:

• Fast transfers, low fees, convenient for cross-border payments.

• Not restricted by traditional bank operating hours.

Risks:

• Regulatory policy changes may affect usage.

• Limited acceptance in certain scenarios, dependent on merchant support.

Usage Recommendations:

• Choose mainstream stablecoins (like USDT, USDC).

• Pay attention to project compliance to avoid financial risks.

Currently, it is mainly used for cryptocurrency asset trading, and everyday consumption scenarios are still being expanded.

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Below are the general operation steps for virtual currency airdrops:

1. Understand the project: Before participating in any airdrop, you need to understand the project's background, team, white paper, and other information to assess its reliability and investment value. You can check the project's official website, user feedback and reviews on social media, as well as the activity level of the community.

2. Register an account: Many airdrop activities require users to register an account on the project's official website or a specific platform. Some projects may also require compliance verification (KYC), so make sure the information you provide is true and valid.

3. Participate in tasks: Complete the specified tasks as required by the project party, such as following the official social media accounts, joining community groups, sharing content, and inviting friends. These tasks are usually announced on the project's official website or social media platforms.

4. Provide wallet address: Users need to provide their cryptocurrency wallet address so that the project party can send the airdrop tokens. Use a secure and reliable wallet, and carefully check the address to avoid mistakes.

5. Wait for the airdrop: After completing all requirements, you just need to wait for the project party to airdrop the tokens at the specified time.

#空投发现指南 The U.S. Securities and Exchange Commission (SEC) has delayed the approval of several spot ETFs for the following main reasons:

• Market Maturity and Stability: Asset markets, such as cryptocurrencies, are relatively unstable, with significant price volatility and potential market manipulation risks. Although Bitcoin and others have existed for many years, the market is still not mature enough; the SEC needs more time to assess market maturity to ensure investor protection.

• Legal Compliance: The legal status of some crypto assets is unclear. For instance, Solana and XRP have been viewed by the SEC as potential securities, which increases the legal uncertainty surrounding related ETF applications. The SEC needs to ensure that approvals comply with legal regulations and supervisory requirements.

• Regulatory Policies and Risks: The cryptocurrency market has regulatory loopholes and risks related to money laundering and illegal activities. The SEC needs to improve regulatory policies to address these issues, protecting investors and maintaining market order.

• Internal Decision-Making Processes: The SEC's approval process is complex. According to public procedures, after an exchange submits a 19b-4 rule change application involving trading rule adjustments, the SEC has up to 240 days to review it. During this period, feedback is provided in phases, and the SEC may require resubmission due to insufficient application materials, extending the approval time.

#SEC推迟多个现货ETF审批 The U.S. Securities and Exchange Commission (SEC) has postponed the approval of several spot ETFs for the following main reasons:

• Asset Market Maturity and Stability: The asset markets, such as cryptocurrencies, are relatively unstable, with significant price fluctuations and potential market manipulation risks. For instance, although Bitcoin has existed for many years, the market is still not mature enough. The SEC needs more time to assess market maturity and ensure investor protection.

• Legal Compliance: The legal status of some crypto assets is unclear. For example, Solana and XRP have been considered potential securities by the SEC, which increases the legal uncertainty surrounding related ETF applications. The SEC must ensure that approvals comply with legal regulations and supervisory requirements.

• Regulatory Policies and Risks: The cryptocurrency market has regulatory gaps and carries risks associated with money laundering and illegal activities. The SEC needs to improve regulatory policies to address these issues.

#特朗普就职百日 On April 29, local time in the United States, it marks the 100th day of Trump's second term as President of the United States. During these hundred days, Trump signed a large number of executive orders in an attempt to implement his policy agenda, but this also sparked many controversies and issues. Here are some summaries of his first hundred days in office:

Domestic Aspects

• Policy Implementation and Controversy: Trump bypassed Congress by governing through 'executive orders', introducing policies such as cancelling 'birthright citizenship', forcibly deporting immigrants, freezing federal spending, and cutting education research funding, which led to over 200 lawsuits and more than a hundred judicial rulings halting the advancement of related policies. He also pushed for government reform, having Musk lead the government efficiency department to cut federal agencies and employees, resulting in the stagnation of multiple government departments.

• The Public

The #XRPETF XRP ETF has its unique advantages and risks, as detailed below:

Advantages

• Convenient Investment: Investors do not need to hold XRP directly and can invest through their stock accounts, avoiding risks associated with wallet management and exchanges.

• Enhanced Liquidity: If approved, it will allow more traditional investors to access and invest in XRP, increasing its liquidity.

• Increased Legitimacy and Stability: Once it becomes a regulated investment tool, XRP will further integrate into the financial system, enhancing public confidence in its legitimacy and stability.

Risks

• Regulatory Uncertainty: The SEC in the United States has been cautious about cryptocurrency ETFs in the past. Although Brazil has launched the world's first XRP ETF, the U.S. has yet to approve any XRP-based products, and the future regulatory stance in the U.S. remains uncertain.

• Price Volatility: The price of XRP itself is quite volatile, influenced by various factors such as market supply and demand, regulatory policies, and technological developments, which may lead to significant fluctuations in the value of the XRP ETF, exposing investors to considerable price risk.

• Listing Delay Risk: Although Brazil's XRP ETF has been approved, the specific timetable from the exchanges may still be uncertain, which could affect investors' expectations and investment plans.

The above content is整理自公开信息, and does not constitute investment advice. Investors need to weigh the pros and cons thoroughly when considering investing in the XRP ETF and make decisions based on their risk tolerance and investment objectives.

#XRPETF XRP ETF is an exchange-traded fund based on the XRP cryptocurrency. Here is some information about it:

Recent Developments

• On April 25, 2025, Hashdex partnered with Genial Investimentos to launch the world's first XRP exchange-traded fund (ETF) on Brazil's B3 stock exchange, with the ticker symbol XRPH11.

• On April 30, 2025, Proshares plans to launch an XRP futures ETF, including Proshares Ultrashort XRP ETF, Proshares Ultra XRP ETF, and ProShares Short XRP ETF, which are based on futures contracts rather than directly holding the tokens.

#XRPETF #XRPETF XRP ETF is an exchange-traded fund (ETF) that is based on the XRP cryptocurrency. Here is some information about it:

Recent Developments

• On April 25, 2025, Hashdex partnered with Genial Investimentos to launch the world’s first XRP exchange-traded fund (ETF) on Brazil's B3 stock exchange, with the ticker XRPH11.

• On April 30, 2025, Proshares plans to launch an XRP futures ETF, which includes Proshares Ultrashort XRP ETF, Proshares Ultra XRP ETF, and ProShares Short XRP ETF. These products are based on futures contracts rather than directly holding the tokens.

Impact

• The launch of the XRP ETF provides investors with a way to invest in XRP through a regulated and secure system, attracting many investors looking to invest in digital assets.

• After the launch of the XRP ETF in Brazil, the price of XRP rose over 8% in one day, and trading volume on major exchanges surged by 22%, indicating high market interest in the XRP ETF.

Future Outlook

Standard Chartered Bank expects that the XRP spot ETF will be approved in the third quarter of 2025, which will bring more institutional investors and inflows into XRP, further driving up its price. However, the U.S. SEC has not yet approved any XRP-based products, and there remains some uncertainty regarding future regulatory attitudes.

The future of Ethereum #以太坊的未来 is full of opportunities and challenges. Here are some potential development trends:

In terms of technological upgrades:

• The implementation of sharding technology: With the comprehensive implementation of sharding technology, the scalability of the Ethereum network is expected to achieve a qualitative leap, significantly improving processing speed and reducing transaction costs, thereby enabling the support of more applications and users, enhancing competitiveness in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), and gaming.

• Upgrades such as Pectra: The Pectra upgrade aims to enhance scalability through various optimizations. The PCRA upgrade is expected to introduce native operation bundling and account abstraction features, potentially eliminating the need for wallets and gas fees, significantly improving the user experience.

In terms of ecosystem development:

• Continuous innovation in the DeFi sector: Ethereum still holds a dominant position in the DeFi sector, and existing DeFi applications will continue to optimize and innovate in the future, providing more diverse financial services, such as more complex derivatives trading and more efficient lending protocols.

$ETH ETH is the abbreviation for Ether, the native cryptocurrency of Ethereum. Here is an introduction to it:

• Basic Information: Ethereum is an open-source public blockchain platform with smart contract functionality, gradually developed after Vitalik Buterin published the white paper in 2014. Its cryptocurrency, Ether, is named after Ethereum, with the English term being 'Ether' and abbreviated as 'ETH'.

• Core Features: The core functionalities of the Ethereum platform include smart contracts and decentralized applications (DApps). Smart contracts are computer programs that automatically execute the terms of a contract, deployed on the Ethereum blockchain without the need for third-party intervention, executing operations automatically when preset conditions are met. DApps utilize the smart contract functionality to provide various services such as financial services, games, social networks, etc., operating and maintaining through numerous nodes on the blockchain network, which enhances the transparency, security, and resistance to censorship of the applications. As the native cryptocurrency of the Ethereum blockchain, ETH is mainly used to pay transaction fees on the Ethereum platform, known as 'gas fees', to incentivize nodes to validate and process transactions.

• Development History: In July 2014, Ethereum conducted a 42-day pre-sale of Ether to raise funds for platform development. On July 30, 2015, the Ethereum mainnet officially went live. In 2020, decentralized finance witnessed explosive growth on the Ethereum platform. In 2021, the Beacon Chain of Ethereum 2.0 was officially launched, marking a key step towards the transition to a proof-of-stake mechanism. From 2022 to 2024, Ethereum continued to advance technical upgrades, such as subsequent optimizations after the merge, and the gradual implementation of sharding technology. On March 13, 2024, the Den CUN hard fork was activated, introducing Proto - Danks Harding, laying the foundation for future upgrades.

• Market Situation: ETH is the second-largest cryptocurrency by market capitalization, following Bitcoin, with a market cap of $440.7 billion as of November 30, 2024. Its price is influenced by various factors, including market supply and demand, the development of the Ethereum ecosystem, and the macroeconomic environment.

However, it is important to note that in China, activities related to virtual currencies are considered illegal financial activities. Speculative trading in virtual currencies disrupts economic and financial order, breeds illegal activities such as gambling, illegal fundraising, fraud, pyramid schemes, and money laundering, seriously endangering the property safety of the people.

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