The US SEC said that it is normal for the crypto market to malfunction, and excessive regulation will affect crypto innovation! We have to admire the pattern of others!

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Last night, FOMC vote committee, Kansas City Fed President George said that "the turbulent performance of U.S. stocks over the past week" is expected, reflecting the impact of monetary policy tightening to a certain extent. She said that market turmoil will not change the Fed's tightening plan. . George is not the first Federal Reserve official to express this view. At present, the Federal Reserve has basically unified its caliber. It is a big thing to raise interest rates to solve inflation, even if the economy is going backwards. This is also the reason why Goldman Sachs, Morgan Stanley and other institutions are so optimistic about the market outlook in the past few days. It is a consensus from all walks of life that US stocks continue to fall. As for when the bottom is reached, it depends on whether the next two months of interest rate hikes will affect inflation. It has played a role in relieving, so this summer must be very difficult. Although the U.S. stock market has recently decoupled from the crypto market, it is uncertain whether the U.S. stock market will collapse if the U.S. stock market continues to fall. Good cash, ​don't blindly dip stud.

Or to say that the United States has strong innovation capabilities. Yesterday, SEC Commissioner Hester Peirce said that he is worried that the United States will limit innovation in the cryptocurrency market. There is a lot of fraud in the cryptocurrency space, and U.S. regulators need to avoid over-regulation of cryptocurrencies, and glitches in the cryptocurrency space are normal. Look at the pattern of others, and then look at the Celestial Dynasty​, this thing is really incomparable.

South Korea's ruling party decided to hold an emergency party meeting on May 24 to discuss measures to protect investors, as the LUNA and UST collapses increasingly affected South Korea. At this meeting, the Financial Services Commission will report on the readiness of the Digital Assets Framework Act, and the Financial Intelligence Unit will report on the results of the inspection of virtual asset trading platforms. In addition, ministries report to the ruling party the Token market risk management plan (Fiscal Supervision Bureau), consumer protection and market monopoly measures for virtual asset trading platforms (Fair Trade Commission), and investigations into cryptocurrency-related crimes (National Police Agency) ). The country's five largest trading platforms are expected to come up with measures to protect autonomous investors in the industry to prevent a second LUNA incident.

Hashed, the biggest loser in the luna thunderstorm event, finally released the data. The data on the chain shows that Hashed is still staking nearly 50 million luna on the terra mainnet. According to the price in early April, the loss of hashed alone is more than 3.5 billion luna. US dollar, this is not counting the loss of UST, think about how it feels to lose so much money in ash. Yesterday, several other institutions including jump, three arrows, delphi and Galaxy degital all posted their own experience summary in this incident, Institutions with perfect risk control mechanisms cannot scale the crypto market, especially the risk of thunderstorms in DEFI, so we must always be cautious.

Tether released its first-quarter audit report, which showed that as of March 31, 2022, Tether’s consolidated total assets were at least $82.4 billion, specifically $82,424,821,101, and consolidated assets exceeded consolidated liabilities. Among them, commercial paper holdings decreased by 17% compared with the previous quarter, from $24.2 billion to $19.9 billion, and continued to decrease by 20% since April 1, 2022. Tether’s investment in money market funds and U.S. Treasury securities There was an increase, from $34.5 billion to $39.2 billion, an increase of more than 13 percent. Although there are rumors of thunderstorms in USDT every year, and the retail market generally believes that the assets behind USDT are too opaque, but if these sets of data are true and accurate, then the risk of USDT is definitely not large​, everyone can rest assured.

Today, Buterin revealed the latest progress of Ethereum 2.0 at the Ethereum Shanghai conference. Buterin said that Ethereum 2.0 is currently undergoing final network testing. If all problems are solved, the merger may be carried out as early as August. The situation may also occur in September or October. Regarding ecological construction, Buterin hopes that Ethereum will not focus too much on DEFI, and ​will need to enter other fields later. In addition, Buterin also proposed a new term Soulbound tokens, saying that more application layer instances will benefit from this new identity token, and once again emphasized the importance of DAO, privacy and decentralized governance to the Ethereum ecosystem.

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BTC: Bitcoin has a little surprise from yesterday to now. The trading volume has not continued to shrink, but has increased by 200 million US dollars. Judging from the market trend, it feels like a bottom trend in 4 hours, but the daily and weekly lines are relatively poor. , it has not been adjusted significantly. I believe everyone has noticed that the weekly level has been falling for 7 consecutive weeks, and there has been no increase in these 7 weeks. Today is Friday. Personally, I tend to receive Yang Ha this week.

At the 4-hour level, the current trend has entered a wide range of fluctuations, the range is around 31300-28000, so it has to be adjusted continuously.

ETH: Although V God said today that if everything is normal, Ethereum will merge in August, but later also said that the situation will be postponed to September and October. According to my understanding of the developer community, it is strange that there is no problem, so It would be good to be able to merge before the end of this year, and it will not have much impact on the price in the short term. Ethereum is still more affected by the broader market and macro policies, so it is difficult to maintain the rebound momentum in the short term. In the long run, the fundamentals of ETH Still good enough to be one of the most valuable crypto assets to invest in.

SAND: Coinbase added The Sandbox (SAND) to its list of assets under consideration for listing in the second quarter, so there was a wave this afternoon. However, in the current bear market, the effect of ​cb is getting weaker and weaker, so there is no short-term It is recommended to chase high.

AVAX: Avalanche officially mentioned LFG's 1.97 million AVAX today, and said that it is ready to cooperate with LFG to formulate a trading strategy. Listening to this means that it is going to go to an over-the-counter transaction, so this short-term price shock should be resolved. I have to say that the avalanche project side still thinks about the investors. Now that this mine has been cleared, the avalanche has expanded its influence because of Luna, which is good for the long-term price​.

ICP: ICP continues to maintain a good rebound momentum today. It can be seen that there have been bargain-hunting funds in action. I said that the fundamentals of ICP are very good, and it is one of the few public chains that has not been hyped. The ceiling is also It’s high enough, except that the unlocking method is a bit tricky, there is actually not much problem. This kind of project is suitable for long-term holding, and the team has money and resources, so the explosive power will be very strong in the future.

FLOW: After FLOW listed CB, there has not been a decent market. The official has been constantly updating favorable and ecological projects, and even organized an airdrop event, but the price did not respond in this case. There is only one explanation, that is, someone It has been shipping. In the short term, if the selling pressure is not lifted, the price of FLOW will not rise. However, in the long run, the ecological advantages of FLOW are also obvious, and once the FLOW token is empowered, the project will return to the mainstream public chain. With the huge flow of partners such as NBA, NFL, La Liga, etc., the FLOW token has a soaring opportunity.

[Disclaimer] The above content does not constitute any investment advice. According to the relevant documents of the "Risk Warning on Preventing Illegal Fund Raising in the Name of [Virtual Currency] [Blockchain]" issued by the China Banking and Insurance Regulatory Commission and other five departments in August 2018, please Look at the blockchain rationally, and don’t blindly trust others. The digital asset market is extremely volatile and risky, and you need to be highly cautious when entering the market.

[Risk Reminder] Digital assets fluctuate greatly and the risks are extremely high. Please participate with caution, put an end to the full-cow stud, and refuse loan leverage.