Group 1 - The global cryptocurrency market experienced unprecedented growth in July, with total market capitalization surpassing $4 trillion and Bitcoin reaching a historical high of over $123,000 [1] - The recent passage of the "Genius Act" by the U.S. Congress, which regulates stablecoins, has ignited institutional investor interest in the cryptocurrency sector, indicating a significant influx of traditional capital into digital assets [3] - Major financial institutions like JPMorgan, Bank of America, and Citigroup are planning to issue their own stablecoins, suggesting that digital currencies are becoming integral to the traditional financial system [3] Group 2 - Concerns have been raised regarding the potential risks associated with stablecoins, as Senator Elizabeth Warren criticized the lack of basic safeguards in the new legislation, warning that stablecoins could threaten the entire financial system [4] - The influx of institutional capital into the cryptocurrency market may lead to increased volatility and reliance on institutional support, raising the risk of a market crash if these funds withdraw [6] - The entry of Wall Street into the cryptocurrency space is transforming digital assets into high-leverage, high-volatility speculative tools, which could exacerbate market bubbles and financial instability [6] Group 3 - The mainstream adoption of digital currencies is inevitable, but it poses significant risks that require vigilance from investors, regulators, and the public [8] - The passage of the stablecoin legislation does not guarantee the safety of digital currencies; instead, it may create tighter connections between traditional finance and emerging market risks [8] - The current cryptocurrency boom could either serve as a new engine for global finance or evolve into a destructive bubble, with the influx of Wall Street capital being a critical factor in this outcome [8]