Why is JPMorgan CEO resisting the CLARITY Act? An under-the-radar battle over "who can accept deposits".
#摩根大通ceo抵制clarity法案 Recently, JPMorgan CEO Jamie Dimon expressed strong discontent regarding the CLARITY Act (Digital Asset Market Clarity Act) during an interview on Fox Business, stating that "banks will not accept this version of the bill". He warned that if legislators don’t address the banking industry’s concerns about stablecoin regulation, the latest version of the CLARITY Act could ultimately fail. He also predicted that if adopted as is, this framework could "blow up". This debate quickly escalated from a discussion about a bill's terms into a public spat between Jamie Dimon and Coinbase CEO Brian Armstrong, as well as Ripple CEO Brad Garlinghouse. On the surface, it looks like another round of the narrative "old-school bankers looking down on the crypto newcomers"; but if you break down the argument, it’s really a structural battle over "who gets to legally accept public deposits and who gets to profit from it."
If I bought $10,000 worth of FIL at $95, can I still break even?
From $200 to under $1—you're not waiting to break even, you're waiting for a miracle that's never coming. Let's face reality: how much has it dropped? FIL's all-time high was over $200, and now it's hovering around $0.7-$0.8, which is nearly a 99.7% drop from the peak. If you bought in at $95, the current price is less than 1% of your original cost. Let the numbers do the talking: $10,000 at a price of $95 could buy around 105 FIL. At the current price of $0.76 per FIL, that's roughly worth $80. So, your $10,000 is now worth less than $100—this isn't just a 'paper loss', it's almost a zero balance.
BTC is holding steady around $63,500, with market sentiment chilling in 'extreme fear' (F&G=12). BTC ETFs have seen net outflows for the fourth consecutive week, totaling $5.4B, while ETH ETFs are showing signs of stabilization, with ETHA driving a net inflow of $19.3M. SOL is riding high at $69, boosted by the launch of CME crypto index futures. LINK has surged to $7.96 due to its partnership with FIFA and the CCIP migration wave. Runes continue to dominate Bitcoin metadata activity, with ORDI skyrocketing 184% in a single day. AHR999 (0.44) and the MA200 divergence (0.95) are both nearing undervalued/buy-the-dip territory, and with the massive issuance of stablecoins, the liquidity situation is expected to gradually improve.
🔵 Chainlink (LINK) Current price: around $7.96 (24h trading volume around $200.5M) On-chain metrics/whale activity (Key point): CCIP has attracted a migration wave of tokens worth over $1.1B this week, with projects like Virtuals Protocol, Pleasing Market, and Zest Protocol all moving in; circulating supply is around 726.7 million LINK, market cap approximately $5.81B 24h/Weekly performance: 24h +2.3%, Weekly +6.2% Institutional developments: FIFA World Cup 2026 official prediction market partner adopting Chainlink as the exclusive oracle infrastructure; BeInCrypto's June assessment ranks LINK as the strongest performer among the top three RWA tokens, with a key support level at $7.38
Market Overview 260603 The crypto market continues the risk-off sentiment from the start of June: BTC dropped below $67K (24h -3.5%, weekly -11.6%), ETH fell below the $2,000 mark to $1,869, and SOL/LINK also weakened. Spot BTC ETFs have seen net outflows for 11 consecutive days, with a single-day outflow of -$483.8M on 6/2, largely due to IBIT contributing -$440.3M; ETH spot ETFs have experienced net outflows for 15 days in a row. AHR999 and MA200 divergence have both dipped into the 'undervalued zone,' suggesting medium-term accumulation potential, though short-term sentiment remains weak. 🟠 Bitcoin (BTC) - Current Price: $67,088.85 (24h -3.50%, weekly -11.60%) - Opening Price: 6/3 opened at $66,667.61, down 6.5% from the 6/2 opening - Technicals: RSI has dropped below 30, entering the oversold zone; historically, similar readings often correspond to temporary bottoms, but analysts cited by Coindesk indicate that institutional and corporate buying has weakened, coupled with concerns over Fed interest rate hikes, limiting rebound potential. - ETF Fund Flows (Key): Spot BTC ETF saw a net outflow of $483.8M on 6/2 (11 consecutive days of outflows), with BlackRock IBIT also showing a single-day outflow of -$440.3M; May saw a total net outflow of $2.3B, marking the largest single-month redemption since 2026 and the most severe monthly outflow since November 2025. - Institutional Perspective: MicroStrategy (MSTR) made a rare sale of a small portion of BTC holdings, interpreted by the market as a sign of waning sentiment; on Monday, a total of $766M in long positions were liquidated across the market. - Macro Risks: Expectations of Fed rate hikes, continued ETF redemptions, and corporate profit-taking during this phase 📐 BTC Valuation Indicators (Key Sections) Note: For precise readings on the day, please refer to real-time data from CoinGlass; the following values are estimates. AHR999 Index - Estimated Value: ≈ 0.48 (estimated value; precise real-time data from CoinGlass) - Calculation: BTC/200D MA ≈ 67,088/90,000 ≈ 0.745; BTC/index growth valuation ≈ 67,088/105,000 ≈ 0.639; product ≈ 0.48 - Current Range: 0.45–1.2 Dollar-Cost Averaging Zone (close to 0.45 bottom buying threshold) - Interpretation: Since dropping below 0.45 on 2026/02/01, it has rebounded to the lower end of the DCA band; currently weakening again close to the bottom threshold, positive for long-term DCA investors. MA200 Divergence (200W MA) - Estimated Value: ≈ 0.96 (estimated value; precise real-time data from CoinGlass) - 200W MA Baseline: $57,926 on 2026/02/02, projected monthly increase of ~$2,000, estimating around $70,000 for June; 67,088/70,000 ≈ 0.96 - Current Range: < 1.0 Undervalued Zone -$BTC
Market Overview 260603 🟢 Solana (SOL) - Current Price: around $76.65–$82.44 range (Coinbase $78.85), 24h -0.8% to -4.78% (data varies slightly between sources) - Weekly Performance: -3.00% - Market Cap: approximately $47.75B (circulating supply around 580 million SOL) - Institutional Partnerships/Ecosystem Progress: - Solana Spot ETF (launching by the end of 2025) continues to attract capital: Bitwise BSOL, Fidelity FSOL, etc. have a total size exceeding $1B - Public company Forward Industries (NASDAQ: FORD) has transformed into a Solana treasury company, holding over 6.9 million SOL
🔵 Chainlink (LINK) - Current Price: $8.52–$9.03 (24h relatively stable) - Weekly Performance: -6% (retracing from $9.60), 30-day cumulative -40.39% - Technicals: 27 technical indicators are bearish, only 1 is bullish; however, social sentiment has turned bullish over the past 24h - On-chain Metrics/Whale Movements (Key): No significant large LINK whale transfers marked by Whale Alert today; continue to monitor CCIP cross-chain bridge traffic and institutional holdings changes - Institutional Progress: Predicted range for 2026 is $8.73–$13.64, with an annual average price of about $11.18
🟡 Bitcoin Ordinals / BRC-20 / Runes - Total Engraved: As of 2026/04, has surpassed 90 million engravings - Runes vs BRC-20 Proportion: Runes have dominated BTC on-chain fungible token activity, capturing about 35% of BTC metadata transactions - Popular Assets like ORDI: This week ORDI surged by 184% in a single day; BRC-20 sector's market cap has rebounded to $237M - Market/Secondary Trading Volume: BRC-20 daily trading volume $1.6B; 2026/03 secondary sales totaled $46.8M (approximately 60,000 transactions, 14,909 unique buyers) - Infrastructure Updates: Magic Eden exited the BTC NFT market as of 2026/03, with market share shifting to OKX, Unisat, Gamma, and Ordinals Wallet $BNB
In the AI era, what irreplaceable value do ordinary people still hold?
Former Google exec and AI & happiness expert Mo Gawdat threw down some serious warnings about the future of AI in a recent interview. What he’s really worried about isn’t some sci-fi flick scenario where AI suddenly wakes up and turns against humanity. Instead, he thinks the more realistic and dangerous issue is this: AI itself isn’t inherently good or evil, but it can massively amplify human goals. If we leverage AI for healthcare, education, research, and productivity boosts, it could become the most powerful tool in history; but if we use it for surveillance, manipulation, exploitation, and warfare, it could turn into an unprecedented danger amplifier.
Jensen Huang's CMU Speech: In the AI Era, Real Opportunities Belong to Those Who Run with Them
NVIDIA CEO Jensen Huang's speech at Carnegie Mellon University's 2026 graduation ceremony seemed to revolve around personal experiences, startup stories, and the future of AI, yet it delved into a deeper issue: when a new era truly arrives, how should ordinary people, engineers, entrepreneurs, and society as a whole confront change, take responsibility, and seize opportunities? Jensen Huang first reflected on his immigrant journey. He came to the U.S. at the age of 9, and his parents later gave up their old lives to reunite with him, starting from almost scratch. His mother woke him up every morning to deliver newspapers, and his brother helped him land a dishwashing gig at Denny’s. For the young Jensen Huang, this felt like a real 'career upgrade'. These experiences may not be glamorous, but they shaped his understanding of opportunity: life is never easy, but an open society allows people to change their fate through hard work.
Fiat is Softening, Assets are Getting Pricier: What Regular Folks Really Need to Understand isn't the Price, but the Measuring Stick
A lot of folks think that rising prices are just because stuff is getting more expensive, that skyrocketing real estate is simply due to properties being worth more, that the stock market hitting new highs is just because companies are raking in more profits, and that gold hitting new peaks is solely due to stronger risk-off sentiment. But if you look at it from a deeper currency perspective, it might not be that straightforward. Many asset prices are constantly breaking records, and besides fundamental changes, there's a more hidden reason: the currency we use to measure value is continuously softening. From a tech advancement standpoint, there’s a natural deflationary force in human society. Improvements in production efficiency, widespread automation, optimized supply chains, and advancements in software and algorithms all lead to lower production costs for many goods and services. For instance, expensive electronic gadgets from the past are now more powerful and cheaper; tasks that once required a lot of manpower can now be handled by machines and software. This shows that technology compresses costs, allowing the same amount of money to buy more things.
Stablecoins Aren't a Safe Haven, But an On-Chain Extension of the USD System
The rapid rise of stablecoins over the past few years hasn’t been a coincidence. What it really reflects is the strong demand for USD liquidity in global markets. Many businesses, individuals, and trading firms around the world still need USD for cross-border settlements, asset preservation, and transaction intermediaries. However, the traditional banking system is slow, has high barriers to entry, and numerous restrictions. This is particularly true in certain emerging markets and capital-controlled regions, where accessing real USD isn’t easy. That’s where stablecoins like USDT and USDC come in as 'on-chain USD substitutes': fast transfers, low costs, 24/7 operation, and they can more easily navigate around banking system limitations.
SpaceX IPO and Space Data Centers: Big Imagination, but Don’t Take the Story as Valuation
$BTC If SpaceX really goes public according to the current plans, this could very well be one of the most anticipated IPOs in the history of global capital markets. According to info gathered by ARK Invest, SpaceX submitted a confidential registration document to the SEC on April 1, 2026, with a target valuation of around $1.75 trillion and a potential fundraising cap of up to $75 billion, possibly hitting the Nasdaq as early as June 2026. It’s important to note that this is still a 'confidential filing' and a 'target valuation'; the public version of the prospectus hasn't been released yet, and there are still uncertainties around the final listing date, valuation, fundraising size, and governance structure.
The market currently anticipates an increase of about 62,000 jobs and an unemployment rate of 4.3%
Today is a classic high-sensitivity data day, with potential market-moving triggers both pre-market and during trading. The key variable is the April non-farm payroll report set to be released at 8:30 AM EST. The market currently anticipates an increase of about 62,000 jobs and an unemployment rate of 4.3%. The importance of this data lies not just in whether job numbers are up or down, but in how it will directly influence the market's repricing of the resilience of the U.S. economy, the pace of rate cuts, and the trajectory of risk assets. If the non-farm payroll data comes in significantly better than expected, it indicates that the job market remains strong. The market may worry that the Fed doesn't have enough reasons to cut rates quickly, leading to high rates persisting longer and putting pressure on the stock market. Conversely, if the data comes in significantly worse than expected, it may raise rate cut expectations but also trigger concerns about an economic recession, which could weigh on risk assets. Therefore, the best outcome for the bulls isn't particularly strong or weak data; rather, it's a moderate cooling of employment: it shows the economy isn't crashing out of control while leaving room for future rate cuts.
Behind Coinbase's Q1 Loss: The Trading Platform's Winter, but Not a Collapse of Fundamentals
On the surface, Coinbase's Q1 earnings report doesn't look great. The company reported Q1 revenue of about $1.4 billion, falling short of market expectations; net losses were around $394 million, with a loss of $1.49 per share. Trading income is also under pressure, mainly due to the overall decline in trading volume across the crypto market, reduced risk appetite, and rising uncertainty in the macro environment. But summarizing Coinbase just with 'huge losses' doesn't paint the whole picture. This loss includes the unrealized impact from the crypto asset price drop, yet the company's operational resilience is still there: Q1 adjusted EBITDA is about $303 million, maintaining positive numbers for the 13th consecutive quarter. In other words, Coinbase isn't completely out of control; it's just feeling significant pressure during this low trading volume period.
🔵 Chainlink (LINK) - Current Price: around $9.92 (24h -1%, Weekly +9% from $9.14) - On-Chain Metrics (Highlights): - CCIP transaction volume skyrocketed 260% to $1.3 billion, reflecting substantial institutional cross-chain demand - Single-day exchange outflow of 970,430 LINK (~$8.95M), marking the largest single-day withdrawal event of 2026 - Solv + Kelp protocol combo migrated nearly $1 billion in assets to CCIP, creating a 'quality migration' - Institutional Progress: Over 50 top financial institutions will pilot tokenized services based on Chainlink integration - Trend: After Consensus kicked off, LINK saw a single-day rise of +3%–+4%, ending a month-long range-bound movement
The U.S. Clarity Act Approaches: Crypto Market Moves Towards Mainstream, DeFi Faces a Life-or-Death Scenario (1)
U.S. crypto regulation is currently at a pivotal crossroads that can't be ignored. The Clarity Act is ostensibly aimed at tackling the mess left by the SEC and CFTC squabbling over jurisdiction for years—providing the market with a clear set of rules. But if you dive into the latest revisions, you'll see that this framework touches on much more than just 'labeling' cryptocurrencies. It's actually rewriting the entire playbook for stablecoins, DeFi protocols, developers, and on-chain yields. For DeFi, this feels more like a health check, and a traumatic one at that.
Market Overview 260506 🔵 Chainlink (LINK) - Current Price: $9.35, 24h Volume $587M - On-chain Metrics / Whale Activity (Key Points): - Whale address 0x527 withdrew 1.167M LINK from Binance within a week, currently holding about $10.63M. - A single address transferred over $25M LINK across exchanges (Binance → Coinbase). - In the past week, CEX net outflow of $53.8M LINK, with 18.94 million LINK (over $170M) being reshuffled across wallets—selling pressure continues to weaken. - Institutional Developments: - AWS Cloud integration goes live: Using Chainlink for secure workflows to validate stablecoins + custom price feeds, after the announcement LINK surged +6% in a single day.
Bitcoin (BTC) This week, BTC experienced a rollercoaster of "first falling then rising" trends, with trading prices ranging between $77,000 and $78,000 as of April 18, marking a weekly increase of about 8%. - Hormuz Strait geopolitical impact: At the beginning of the week, news broke of the collapse of US-Iran negotiations, causing BTC to drop to $70,900, a decline of about 2.5%. Subsequently, Trump stated that the US and Iran are "very likely" to reach an agreement, and market sentiment quickly recovered, with BTC rebounding to above $76,000, reaching a new high since the crash on February 5. - Morgan Stanley spot BTC ETF launched: On April 8, Morgan Stanley introduced its own spot Bitcoin ETF, raising $30.6 million on the first day, setting a record for the strongest first day for the company's ETF products.
Bitcoin (BTC) This week, BTC experienced a rollercoaster market, initially dropping and then rising. As of April 18, the trading price was in the range of $77,000–$78,000, with an increase of about 8% over the week. - Hormuz Strait Geopolitical Impact: At the beginning of the week, news broke of the breakdown in US-Iran negotiations, causing BTC to temporarily drop to $70,900, a decrease of about 2.5%. Subsequently, Trump stated that the US and Iran are "very likely" to reach an agreement, leading to a rapid recovery in market sentiment, and BTC rebounded to above $76,000, marking a new high since the crash on February 5. - Morgan Stanley Spot BTC ETF Launch: On April 8, Morgan Stanley launched its own spot Bitcoin ETF, attracting $30.6 million on its first day, setting a record for the strongest first-day performance of the company's ETF products.
Part One: The Money in Your Pocket is Being Quietly Devoured by an Invisible Game
Most people spend their lives trying to make money, yet very few stop to ask a more fundamental question: who defines the value of the money in your hand? Will the one hundred yuan you earn today buy the same things ten years from now? The answer is almost certain — no. This is not because goods have become more expensive, but because the currency in your hand is being systematically diluted in an extremely subtle way. Fiat currency, which is the Renminbi, US dollar, euro that we use daily, is essentially a payment commitment backed by government credit. It has no intrinsic value; its purchasing power entirely depends on the issuer's degree of self-discipline. However, history has repeatedly shown that almost no government can resist the temptation of overissuing currency for long. Printing money is the lowest-cost "hidden tax" — it does not require legislation, does not need voting, does not need to notify anyone, it only needs to let the printing machine run a few more rounds.