#加密圆桌会议要点 In April to June 2025, the U.S. Securities and Exchange Commission (SEC) held four roundtable discussions on cryptocurrency regulation. The meetings marked the SEC's shift from an enforcement-led model to a collaborative regulatory framework.
The SEC Acting Chair clearly stated the intention to abandon the 'enforcement regulation' model and to construct a regulatory framework suitable for the characteristics of crypto assets, clarifying whether crypto assets are securities in issuance rules, adjusting registration exemptions, etc.; expanding custodial autonomy, supporting new custodial solutions; opening up the trading ecosystem, and supporting products like spot ETFs.
Each meeting focused on different topics such as cryptocurrency trading regulation, custodial institution issues, asset tokenization and integration with traditional finance, and DeFi regulation. Concepts such as layered regulation, clear technical standards, on-chain securities issuance standards, and regulatory sandboxes were proposed. This series of initiatives will accelerate the inflow of institutional capital, promote the tokenization of real assets, and reshape the global regulatory landscape, but there are also controversies regarding the ambiguous definition of 'securities' in the implementation of these rules.
#CPI数据来袭 On May 10, the National Bureau of Statistics released the monthly report on the national Consumer Price Index (CPI). In April, the national CPI changed from a decrease of 0.4% last month to an increase of 0.1%, with a year-on-year decrease of 0.1%, the same decrease as last month. The core CPI changed from flat to an increase, rising by 0.2%; year-on-year, it increased by 0.5%, maintaining a stable growth rate.
From a month-on-month perspective, food prices rose by 0.2%. Due to factors such as a decrease in import volumes, beef prices increased by 3.9%; in some regions, the marine fishing moratorium began, leading to a 2.6% increase in the price of marine fish; at the beginning of the new fruit season, supply decreased seasonally, with prices for tubers and fresh fruits increasing by 4.7% and 2.2%, respectively. In terms of non-food items, the prices of travel services rebounded significantly. Airfare, vehicle rental fees, hotel accommodation, and tourism prices increased month-on-month by 13.5%, 7.3%, 4.5%, and 3.1%, respectively.
#贸易战缓和 In May 2025, there are significant signs of easing in China-US trade relations. Since the trade war broke out in 2018, economic and trade frictions between the two sides have escalated over the past seven years, affecting various fields such as technology and finance, and deeply impacting the global economic landscape. Recently, U.S. Treasury Secretary Basant's performance on related issues, along with Trump's acknowledgment of mistakes in trade policy towards China and plans to adjust tariffs, indicate a shift in the U.S. attitude. At the same time, China announced a new round of negotiations with the U.S. in Switzerland, demonstrating a proactive cooperative stance. If tariff negotiations are restarted, both sides may cancel 'retaliatory' tax increases, and the overall level of U.S. tariffs may decrease from 145% to about 73%, which would greatly alleviate global economic pressure and bring hope for the recovery of China-US economic and trade relations and the global economy.
#ETH突破2500 Golden Finance May 11 news, the market has seen significant fluctuations, with ETH price strongly breaking through the $2500 mark. As of the time of writing, the price is $2502.29, with a 24-hour increase of up to 7.27%. This breakthrough has attracted widespread attention in the market, and investor sentiment is high.
Recently, the Ethereum ecosystem has been continuously benefiting. The successful launch of the Pectra upgrade has improved network efficiency and reduced Gas fees, stimulating network activity. At the same time, the total locked value (TVL) of the Ethereum DeFi ecosystem has reached $80 billion, a new high in two years, attracting substantial capital inflow. However, the cryptocurrency market is highly volatile, and investors still need to manage risks effectively and closely monitor market dynamics.
#山寨季何时到来 In the cryptocurrency space, altcoin season is receiving significant attention. It refers to the short-term phenomenon where altcoins outperform Bitcoin and bring high returns. Typically, this signals the start of altcoin season when Bitcoin's market cap share decreases, substantial funds flow from Bitcoin to altcoins, and prices of various altcoins surge.
Currently, Bitcoin has surpassed the $100,000 mark, but many altcoins are underperforming and even declining. Historically, altcoin seasons often occur in the last year of Bitcoin's four-year cycle, and when Bitcoin's price stabilizes, market enthusiasm spreads to other cryptocurrencies. According to some analysts, in the first quarter of 2025, as market risk appetite increases, loose financial conditions and retail enthusiasm recover, altcoin season is expected to commence, with large-cap altcoins potentially returning to or surpassing historical highs, while new narratives drive small and mid-cap coins to new peaks. However, the exact timing of this commencement still requires close attention to Bitcoin's trends, market capital flows, and changes in various related indicators.
#BTC重返10万 On the evening of May 8, Bitcoin (BTC) surged strongly, returning to the $100,000 mark for the first time since January, climbing from an intraday low of $95,967, with an increase of 4.2%, closing at $100,530. This breakthrough quickly attracted significant attention from the global cryptocurrency market.
The factors behind this surge in BTC prices are diverse. On one hand, U.S. stocks have continued to rebound from their April lows, and global market risk sentiment has revived, increasing investors' willingness to allocate to risk assets. This positive sentiment has spread to the cryptocurrency sector. According to CoinGecko data, other major cryptocurrencies have also risen, driven by BTC, with Ethereum seeing an intraday increase of over 20%, and Dogecoin, Cardano, and Ripple also experiencing broad gains. On the other hand, institutional investors continue to enter the market, with companies like MicroStrategy continuously increasing their BTC holdings, injecting confidence into the market. Recently, governors of Arizona and New Hampshire signed a bill allowing the establishment of state-level Bitcoin reserves. Although no actual purchases have been made yet, it has greatly stimulated optimistic sentiment among investors.
#BTC突破99K Today, multiple factors in the market resonate, driving BTC to continue rising. On one hand, institutional investors are entering the market in droves, with large amounts of funds pouring into the Bitcoin market, injecting strong momentum for price increases. For example, companies like MicroStrategy continue to increase their BTC holdings, demonstrating their strong confidence in its long-term value. On the other hand, the launch of Bitcoin ETFs further lowers the participation threshold for investors, attracting more funds.
When BTC broke through 99K, the market reacted extremely enthusiastically. Cryptocurrency-related forums and social media were instantly flooded with posts, and investors expressed their excitement. Some excitedly stated that wealth is about to leap forward, while others marveled at the market's craziness. On trading platforms, trading volume surged dramatically, with a rush of buy orders, showing the market's strong bullish sentiment.
#美国众议院市场结构讨论草案 On May 5, the leaders of the U.S. House Financial Services Committee and the Agriculture Committee jointly announced a discussion draft aimed at constructing a federal regulatory framework for the U.S. digital asset industry. The draft was co-released by Representatives French Hill, Glenn “G.T.” Thompson, Bryan Steil, and Dusty Johnson.
Lawmakers stated that the bill aims to align the regulatory responsibilities of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), clarifying the legal definitions of key terms in the blockchain and cryptocurrency markets. It introduces definitions for core concepts such as digital commodities and blockchain systems, stating that 'end-user allocation' is neither a security nor constitutes a sale. The draft also establishes a registration pathway for digital commodity exchanges, clarifies the jurisdiction of the SEC and CFTC, and provides protections for DeFi protocols and self-custody.
#美联储FOMC会议 The Federal Reserve FOMC meeting, or the Federal Open Market Committee meeting, is a key meeting that determines U.S. monetary policy. Its main task is to balance economic growth and price stability through monetary policy regulation. The meeting consists of 12 voting members, including 7 board members, the president of the New York Federal Reserve, and 4 other regional Federal Reserve presidents. It is held regularly eight times a year in January, March, May, June, July, September, October, and December, generally lasting one to two days. In the minutes of the meetings held in March, June, September, and December, a dot plot of the forecasts for the federal funds target rate by 19 participants will be published, and its decisions have far-reaching effects on global financial markets.
#XRPETF XRP ETF, or XRP Exchange-Traded Fund, is a financial instrument designed to track the performance of XRP, providing investors with an indirect way to access this cryptocurrency. Unlike directly buying and holding XRP, investors can gain ownership of a basket of XRP assets by purchasing shares of the XRP ETF.
Since the approval of Bitcoin and Ethereum spot ETFs, the market has high expectations for the XRP ETF. Starting in October 2024, several asset management companies, including Bitwise, Canary Capital, 21Shares, and WisdomTree, have submitted related applications. If approved, it will lower the investment threshold, attract more traditional investors, and inject more capital into the XRP market, enhancing its liquidity and market attention. However, regulatory compliance, market volatility, and asset custody security are still challenges it faces.
$ETH Recently, ETH has shown significant volatility, with the price dropping from around 2800 USD at the beginning of April to below 1400 USD on the 9th, marking a new low since October 2023. This is mainly due to on-chain data warnings, institutional capital withdrawal, and intensified ecological competition. It then experienced a rebound, with the price around 1783.99 USD on April 23. Over the past week, the ETH price increased by 4.67%, but has overall decreased by 42.35% over the past year. The 24-hour trading volume was 15.31 million, with a transaction value of 199.298 billion, and a turnover rate of 12.68%, indicating high market activity.
#Metaplanet增持比特币 Since launching its Bitcoin strategy in April 2024, Metaplanet has been continuously increasing its holdings and plans to increase to 10,000 BTC by the end of 2025 and to 21,000 BTC by the end of 2026. Its aggressive accumulation may be due to the high returns on Bitcoin, as well as favorable Japanese tax policies for listed companies holding cryptocurrency assets, which can also hedge against the depreciation risk of the yen.
#加密市场反弹 In recent days, the cryptocurrency market has shown signs of a rebound. Previously, due to widespread panic in the market, cryptocurrency prices plummeted, and the total market value severely shrank. However, various factors have contributed to its recovery. On one hand, Trump's positive statements regarding cryptocurrencies, such as establishing a strategic reserve for cryptocurrencies, have greatly boosted market confidence, reigniting investors' hopes for the future of cryptocurrencies and driving funds back into the market.
On the other hand, the technical aspects of the market also show signs of a rebound. The total market value of cryptocurrencies began to recover after hitting certain support levels, with mainstream cryptocurrencies like Bitcoin and Ethereum leading the way. Bitcoin once rose to $94,000, and as market sentiment improved, trading volume gradually increased, indicating that market activity is on the rise, and the cryptocurrency market is expected to enter a new growth cycle during this rebound.
MindNetwork Fully Homomorphic Encryption FHE: Reshaping the Future of AI with Keys In an era where the wave of artificial intelligence sweeps across the globe, AI Agents have deeply integrated into life and work, yet their security issues are becoming increasingly prominent. Risks such as data breaches and privacy violations hang like the sword of Damocles. MindNetwork's Fully Homomorphic Encryption FHE technology, with its unique advantages, has become the key to solving the security challenges of AI Agents. FHE technology allows computation directly on encrypted data without the need for decryption, and the results, once decrypted, are consistent with plaintext computations. This feature perfectly aligns with the data security needs of AI Agents. In traditional models, data must be decrypted to participate in AI computations, posing a risk of leakage; whereas FHE technology ensures end-to-end encryption of data throughout its lifecycle, fundamentally eliminating the risk of information leakage and safeguarding the secure operation of AI Agents, becoming the core driving force for the future of intelligent agents. Mind Network, leveraging FHE technology, injects strong momentum into the construction of the Agentic World intelligent ecosystem. It creates a secure and trustworthy intelligent network environment, enabling different intelligent agents to interact, collaborate, and share data in an encrypted state. The data transmission and processing among intelligent agents are secure and worry-free, effectively promoting the flow of data and value extraction, accelerating the development of the intelligent world. With FHE as the cornerstone, Mind Network carefully builds a solid foundation for the Agentic World. Through fully homomorphic encryption technology, it breaks down data silos, achieving efficient circulation and integration of data in a secure environment. At the same time, by combining smart contracts and distributed ledger technology, it ensures the transparency, traceability, and immutability of data interactions, providing solid support for the stable operation of the Agentic World. Building the Agentic World intelligent ecosystem is an innovative journey that requires multi-party participation. Mind Network looks forward to collaborating with developers, enterprises, and research institutions to explore more possibilities of FHE technology. By continuously optimizing technology and expanding application scenarios, we aim to elevate the security and performance of AI Agents to new heights and jointly sketch a beautiful blueprint for the Agentic World. The above presents the significant importance of MindNetwork's Fully Homomorphic Encryption FHE for the future of AI from multiple dimensions. Keep it up!
#中美贸易关系 The China-U.S. trade relationship has experienced ups and downs since the outbreak of the trade war in 2018. The United States has raised the banner of 'decoupling,' imposing tariffs and restricting technological cooperation in an attempt to curb China's development. However, the trade war is a double-edged sword; American consumers are burdened with higher prices, corporate costs have surged, and agriculture and services have been severely affected, with the bankruptcy rate of American farms rising by 15% and Boeing's cancellation of orders to China in 2024 accounting for 22% of total capacity.
Although China faces challenges such as shrinking exports and employment pressure, it has also accelerated industrial upgrading and promoted diversification of export markets. From 2017 to 2024, the proportion of U.S. imports from China fell from 21.6% to 13.4%, reflecting China's achievements in exploring other markets. Furthermore, China is actively leveraging the 'Belt and Road' initiative to strengthen cooperation with countries along the route and reduce dependence on the U.S. market. Currently, the China-U.S. trade shows a trend of 'limited decoupling,' with the future still full of uncertainties, but cooperation and mutual benefit align with the long-term interests of both sides.
#加密市场反弹 Recently, the cryptocurrency market has shown signs of recovery. On April 21, SoSoValue data showed a broad market rally, with the AI sector leading for two consecutive days, achieving a 24-hour increase of 6.29%. Among them, Render, Fetch.ai, and Bittensor rose by 4.29%, 7.30%, and 12.74% respectively. Bitcoin increased by 2.36% in 24 hours, surpassing $87,000; Ethereum rose by 0.91%, returning above $1,600. The DeFi, Layer2, Meme, and other sectors also experienced varying degrees of increase. Previously, the market faced selling pressure due to global macroeconomic factors, and the current rebound may be a result of oversold conditions. However, the cryptocurrency market has always been highly volatile, so future trends will need to pay attention to economic data and changes in the global macro situation.
#Vaulta Vaulta Coin has garnered significant attention in recent years as a part of the cryptocurrency sector. It is based on advanced blockchain technology, ensuring transaction transparency and security through a distributed ledger, while its decentralized nature frees it from the constraints of traditional financial institutions.
Vaulta Coin employs a unique consensus mechanism, featuring efficient transaction processing speeds and lower fees, providing users with a convenient value transfer experience. Its design for anonymity ensures user privacy, but also raises discussions regarding regulation and compliance. In the investment market, Vaulta Coin experiences significant price volatility, attracting risk-seeking participants, but it also comes with high risks that investors need to evaluate cautiously.
$TRX As of today (April 20, 2025), according to CoinMarketCap data, the performance of TRX coin is quite impressive. The current price is $0.2729, up 8.31% from the previous day. The market capitalization reaches $23.53 billion, with a 24-hour trading volume of $2.41 billion, a significant increase of 72.12% compared to the previous day.
In terms of daily performance, its price has fluctuated between $0.2451 and $0.3023. Over the past week, TRX coin has shown an overall upward trend, reaching a historical high of $0.4407 on December 3.
As the native token of the TRON blockchain, the price fluctuations of TRX are influenced by multiple factors including market supply and demand, investor sentiment, and the development of the TRON ecosystem. Recently, the market has been optimistic about the prospects for TRON's ecosystem development, with positive news such as Canary Capital applying to launch a TRON ETF, driving up the price of TRX.
#波场ETF The Tron ETF is an exchange-traded open-ended index fund focused on the trading of TRON (TRX), the native token of the TRON blockchain. On April 18, 2025, Canary Capital submitted an S-1 registration to the U.S. Securities and Exchange Commission (SEC), applying to launch a spot ETF focused on TRX. If approved, investors will be able to track the market performance of TRX and obtain staking rewards through special designs.
TRON has performed outstandingly in the blockchain sector, with its mainnet being one of the world's large decentralized application operating system protocols, boasting a considerable number of accounts and transactions, and widely used in stablecoin settlements. TRX's market capitalization ranks among the top ten cryptocurrencies. If the Tron ETF is successfully launched, it will provide investors with a compliant new way to participate in the TRON ecosystem and attract more capital inflow.
#特朗普施压鲍威尔 Local time on April 17, U.S. President Trump once again pressured Federal Reserve Chairman Powell. He posted on social media that Powell's actions are 'too late and wrong', stating that he should have cut interest rates long ago like the European Central Bank, and bluntly said 'The sooner Powell leaves, the better.' The day before, Powell reiterated that he would watch the impact of Trump's tariffs on the economy and inflation, and was not in a hurry to cut interest rates. During his first term, Trump often urged the Federal Reserve to lower interest rates. As he began his second term, his push for tariff policies has put the U.S. economy at risk of rising inflation and slowing growth. He hopes to 'offset' the inflation brought about by tariff policies by pressuring the Federal Reserve to cut interest rates, thereby alleviating the pressure from his own policies.