Justin Sun: Li Lin's brother Li Wei has repeatedly obtained a large amount of zero-cost HT through abnormal means and sold it, which will be recovered and destroyed. Li Lin: Hope Huobi will provide evidence. If it is confirmed to be true, I will personally pay 10 times the HT. If it is not true, Hope Huobi will return the user's legal assets. Former Silicon Valley Bank executives "passed the buck" at the hearing: They believed the Fed's "nonsense" in 2021. No bank can survive a run of this speed and scale. It's all the Fed's fault for "messing up" expectations! The Fed hinted throughout 2021 that interest rates would remain low and inflation was only temporary, and then the Fed began the fastest rate hike cycle in 40 years. Fed Governor Barr: It is outrageous that Silicon Valley Bank paid bonuses on the day of bankruptcy, and we are investigating.
Back to the topic:
The World Bank released a report exploring the tokenization of infrastructure projects, and the financing gap for infrastructure projects will reach $15 trillion between 2018 and 2040. Blockchain can help infrastructure projects in two very different ways. It is suggested that the World Bank should consider launching a proof of concept to help promote changes in financial regulation and play a leading role in blockchain technology. It will also gain experience in interacting with the "crypto ecosystem". Bank of New York Mellon, which plans to integrate digital assets into all aspects of its business, is advancing a digital strategy that focuses on distributed ledger technology, tokenization and digital cash, and provides all its existing services for digital assets, such as custody and clearing services, and securities tokenization. The bank will expand certain businesses to digital assets in the next year and a half. The BSIM card jointly developed by the Research Institute of China Telecom Co., Ltd. and the Shanghai Tree Graph Blockchain Research Institute (Conflux Network) was released in Shanghai. It is applied to scenarios such as metaverse digital assets, digital identity authentication, and IoT device acquisition to promote Web3.0 innovative applications and the development of the Web3.0 industry ecosystem.
Web3 venture capital firm Red Beardventures has completed a $25 million financing. DID infrastructure provider Lifeform has completed financing at a valuation of $300 million, led by IDG Capital. The number of registered users on the Lifeform chain has reached 3.6 million, making it the tool with the largest number of users on the BNB CHAIN chain. Crypto mining company Soluna Holding has completed a $14 million financing. DeFi asset management platform Yield App has reached a cooperation with Volt, a British real-time payment gateway company, to open up the entrance of British pounds and euros. Yield App customers can buy cryptocurrencies instantly directly through banks. Blockchain security agency Certik and Alibaba Cloud announced that they have signed a partnership to provide blockchain security services for cloud-based Web3 projects. Lido Finance activated ETH withdrawals and carried out V2 upgrades, allowing users to withdraw Ethereum from the platform. Due to multiple security audits, Lido Finance needs an extra month to facilitate withdrawals.
In April 2023, the crypto sector completed $814 million in financing, with 106 financings. Bittnex Alpha Report: The United States has weakened inflation, but is facing an increasingly worrying debt ceiling crisis, and the reduction in credit demand may prolong restrictions on overall credit supply. The miners' income source has shifted from Bitcoin issuance to transaction fees, which is conducive to the healthy development of the Bitcoin network and improves security. The debt crisis is looming with weakened inflation, and it may be on the cusp of an early bull market. Trackinsight survey shows that 48% of people said they would consider investing in a single token ETF, 47% are interested in ETPs with exposure to multiple crypto assets, 37% are interested in cryptocurrencies, and 23% would not consider investing in cryptocurrencies. The survey came from 549 professional investors who have allocated approximately $900 billion in ETF strategies.
At 3 a.m., Biden held a "debt ceiling discussion meeting" with congressional staff. U.S. House Speaker McCarthy: There are still big differences between the two sides in the debt ceiling negotiations. Treasury Secretary Yellen warned: Default may occur on June 1. Fed's Williams said: Since the United States has never defaulted before, we don't know what the impact will be.
Yesterday, Fed Mester said: There are still four weeks to the next meeting. We need to see more data. It is not certain whether the next step will be to raise or lower interest rates. The current trend shows that long-term economic growth is slow and "lower neutral interest rates may return." The interest rate market shows that the probability of a 25 basis point rate cut in July is about 40%. Hedge fund giant Tudor Jones: The economy may enter a recession in the third or fourth quarter, but the stock market is still expected to rise at the end of this year. In terms of the recent debt ceiling, it tends to keep an eye on political volatility and buy on dips. Personal habit, always keep a small amount of BTC in the portfolio.
Nasdaq is the "risk asset representative" of the stock market, and Bitcoin is the representative of risk assets among all assets. Today, the Nasdaq index rose to 12,403, the highest point since September last year. It is not afraid of debt defaults, and the rising factors are more from the expectation of interest rate cuts. In the first few months of this year, the decline of US core CPI was not obvious. Fed Bostic's inflation expectation for the end of the year is 3%. The current US core CPI is 5.5%. It is expected that the core CPI will decline by an average of 0.35% per month in the remaining 7 months, accelerating the decline, which will help to increase expectations of interest rate cuts and drive the market higher. #BTC #crypto2023 #ETH #Binance #Web3
