如果说发展稳定币是美国化债的一个阳谋，那么《GENIUS法案》的发布能否直接推动美债规模降低呢？显然不会，因为 《GENIUS法案》的主要内容是规范稳定币的发行，比如全额抵押和禁止向用户发放利息，是稳定币的"供给侧改革"，而对于稳 定币的投资、跨境交易和通胀对冲三类需求并没有直接的刺激作用，《GENIUS法案》不能直接助力化解美债危机。 加密货币行业迎来里程碑时刻。 据央视新闻报道，当地时间6月17日，美国参议院通过了一项立法，旨在为被称为"稳定币"的加密货币建立监管框架。这项名为 《指导与建立美国稳定币国家创新法案》（以下简称《GENIUS法案》）的议案获得两党支持，以68票对30票的结果在参议院获 得通过，标志着该院首次批准主要的加密货币立法。 白宫官员曾表示，《GENIUS法案》"消除了长期以来阻碍数字资产领域创新与竞争力的不确定监管环境"，这项立法将加强美元 在加密货币领域相较于其他货币形式的主导地位。但许多民主党人强烈反对，警告该措施缺乏足够严格的监管规定和监督机 制，无法防止滥用行为。 在近日德鼎创新（Draper Dragon）主办的上海RWA（现实世界资产通证化）产业论坛上，CDD JAP（香 ...

Core Viewpoint - The Federal Reserve is expected to maintain interest rates, with market focus on Chairman Powell's speech and the "dot plot" for future rate expectations [2][16][20]. Group 1: Federal Reserve and Interest Rates - The Federal Reserve will announce its interest rate decision on June 18, with a press conference by Chairman Powell to follow [2][15]. - Market consensus anticipates that the Federal Reserve will keep rates unchanged at 4.25% to 4.5%, with only a minority expecting a 25 basis point cut [16][20]. - The "dot plot," which reflects individual officials' rate predictions, will be closely watched, as it may indicate only one rate cut for the year [19][20]. Group 2: Market Reactions - Following the anticipation of the Federal Reserve's decision, U.S. stock markets showed strength, with major indices rising [4]. - The approval of the "Stablecoin Innovation Act" by the U.S. Senate contributed to a significant rise in Circle's stock, which increased over 8% [4][5]. - Major tech stocks also saw gains, with companies like Tesla and Broadcom rising over 2% [7]. Group 3: Economic Data - Recent labor data showed a decrease in initial jobless claims to 245,000, aligning with market expectations [8]. - The four-week average of initial claims rose slightly to 245,500, indicating a mixed labor market signal [9]. - Continuing claims for unemployment benefits were reported at 1.945 million, slightly above expectations [10].

Core Viewpoint - The emergence of BitEngine's token BitEng is revolutionizing the cryptocurrency market with its innovative economic model and technological advantages, positioning it for significant price growth in the future [1]. Economic Model - BitEng's economic model is described as the "ultimate form of crypto economy," combining "mining revenue distribution" and "dynamic token burn" mechanisms [3]. - The token's value is directly linked to Bitcoin mining revenue, with holders sharing 30% of mining profits, providing a real cash flow backing for the token [4]. - Assuming a daily mining output of approximately 50 BTC and a Bitcoin price of $60,000, BitEngine generates about $3 million daily, with nearly $900,000 allocated to BitEng holders, resulting in an annualized return rate exceeding 15% [4]. - The dynamic burn mechanism involves using 20% of quarterly mining profits to repurchase and permanently destroy BitEng tokens, creating scarcity and driving up market prices [4]. - Quarterly repurchases could reach around $54 million, potentially leading to a 50-fold price increase within 12 months due to reduced circulation [4]. Technological Advantages - BitEngine benefits from being part of Riot Platforms, the largest mining power platform, which provides superior hardware and operational capabilities [5]. - The use of the latest generation ASIC miners and renewable energy sources reduces operational costs to $0.03 per TH/s, significantly lower than the industry average of $0.045 [6]. - The cost savings are shared with community members, ensuring stable and substantial dividends for BitEng holders [6]. - Proprietary optimization algorithms enhance overall hash rate efficiency, keeping the system at the forefront of the industry [6]. Market Outlook - The combination of innovative economic models, top-tier mining efficiency, and aggressive token burn policies creates a robust framework for BitEng's long-term price appreciation [5]. - Financial institutions predict that BitEng could easily surpass the $10 mark by the end of 2024, representing a potential hundredfold increase from current lows [5]. - The project is still in its early stages, with many investors yet to recognize the hidden opportunities presented by BitEng [5].

Core Points - The U.S. Senate passed the "Guidance and Establishment of a National Stablecoin Innovation Act" (GENIUS Act) with a significant bipartisan majority of 68 votes in favor and 30 against, marking a milestone for the digital asset industry [1] - The act aims to establish a regulatory framework for dollar-pegged stablecoins, which have seen a surge in usage as essential tools for cryptocurrency traders [1] - If enacted, the act will require stablecoin issuers to back their tokens with liquid assets such as U.S. dollars and short-term Treasury securities, with monthly disclosures of reserve compositions [1] Legislative Context - The House of Representatives had previously passed a stablecoin bill, but it failed in the Senate due to Democratic control, leading to its demise [2] - Former President Trump is pushing for comprehensive reforms in U.S. cryptocurrency policy, with hopes for the bill's passage before August [2] - Controversies surrounding Trump's family's cryptocurrency ventures have posed challenges to the legislative process, with increasing dissatisfaction among Democrats regarding Trump's promotion of personal crypto projects [2] Concerns and Criticism - Some Democrats express concerns that the bill does not prohibit large tech companies from issuing private stablecoins and lacks sufficient anti-money laundering protections [2] - Elizabeth Warren criticized the bill for potentially exacerbating presidential corruption and harming national security, financial stability, and consumer protection [2] - The Conference of State Bank Supervisors has called for critical amendments to mitigate financial stability risks, expressing concerns over the bill's expansion of unregulated banking activities [2]

文 | 有界UnKnown，作者丨山茶，编辑｜钱江 最近稳定币又开始火了，很多人可能不知道什么是稳定币，今天来谈一下这个。 5月底，香港立法会近日通过《稳定币条例草案》，以在香港设立法币稳定币发行人的发牌制度，完善对虚拟资产活动在香港的监管框架。之后京东对外 发声，表示正在积极沟通，计划发行"稳定币"来提升跨境支付能力。 随后，蚂蚁集团旗下两家公司也被爆在香港和新加坡申请稳定币牌照。 近日，刘强东在对外的小范围沟通会上又多次提到稳定币，俨然稳定币已经成为京东未来业务发展的最重要方向一般。 刘强东提到：我们希望在全球主要货币国家都申请稳定币牌照，通过稳定币牌照能够实现全球企业之间的汇兑，能够把全球的跨境支付成本降低90%，效 率提高到10秒钟之内。希望有一天大家在全世界消费的时候，京东稳定币可以作为全球的支付手段。 这里有几个关键问题，比如什么是稳定币，为什么稳定币能提升跨境支付效率，我们能使用稳定币吗？ 稳定币真的"稳定"吗？ 当然，提起比特币许多人的第一印象就是"波动"，因为我们经常会看到"比特币价格又创新高"或者"比特币价格又跌破**大关"之类的新闻。 这是因为比特币的发行量有限，加上市场的投机行为、供需 ...

Core Viewpoint - The article discusses the rise of stablecoins as a bridge between traditional finance and decentralized finance, highlighting their potential to transform payment systems and cross-border transactions while also addressing regulatory developments in the U.S. and Hong Kong [8][10][35]. Group 1: Definition and Importance of Stablecoins - Stablecoins serve as a transitional form connecting traditional finance and Web3, retaining centralized asset credit while embodying decentralized technology characteristics [10][11]. - The emergence of stablecoins addresses the trust issues in traditional finance and offers a pathway for decentralized finance to gain acceptance among traditional financial users [12][29]. Group 2: Regulatory Developments - The U.S. Senate passed the GENIUS Act, establishing regulatory frameworks for stablecoins, which is seen as a significant victory for the crypto sector [5]. - Hong Kong's Stablecoin Regulation, effective from August 1, positions the region as a leading compliance testing ground for stablecoins in Asia [6][35]. Group 3: Market Dynamics and Predictions - The stablecoin market is projected to expand from approximately $250 billion to $2 trillion in the next few years, indicating significant growth potential [16][18]. - Circle, as a compliant stablecoin, is expected to benefit from this market expansion, with its business model relying on earning interest from underlying assets [31][32]. Group 4: Impact on U.S. Treasury Bonds - Stablecoins could alleviate short-term liquidity pressures on U.S. Treasury bonds, but they do not address long-term fiscal sustainability concerns [10][18]. - The influx of funds into stablecoins may provide a temporary solution for short-term debt, but the underlying issues regarding the U.S. fiscal situation remain unresolved [19][20]. Group 5: Stablecoins and Dollar Dominance - While stablecoins enhance the international use of the dollar, they do not fundamentally resolve concerns regarding the U.S. fiscal health, which continues to drive market skepticism [21][22]. - The U.S. government, particularly under Trump's influence, appears to leverage stablecoins to maintain the dollar's central role in the global financial system [23][24]. Group 6: Competitive Landscape and Future Trends - The competitive advantage of stablecoins lies in their ability to provide a bridge between traditional and decentralized finance, appealing to both sectors [29][30]. - The regulatory clarity surrounding compliant stablecoins like USDC is expected to provide them with a sustainable growth trajectory compared to less regulated counterparts [39][40].

Group 1 - The core concern of the Bank of Korea's Governor Lee Chang-yong is that issuing a Korean won stablecoin may inadvertently increase reliance on US dollar stablecoins, complicating foreign exchange controls and threatening the effectiveness of monetary policy [1][2] - Governor Lee's warning highlights the fundamental contradiction faced by Korean monetary authorities: the need to embrace digital asset innovation while maintaining effective control over capital flows [1] - The issuance of a Korean won stablecoin could potentially become a new channel for capital outflow, raising concerns among regulators who view cryptocurrencies as speculative and competitive to national currencies [1] Group 2 - Last month, Governor Lee expressed concerns that stablecoins issued by non-bank entities could undermine the effectiveness of monetary policy and capital flow controls, emphasizing the need for the central bank to lead the regulation of stablecoins linked to the Korean won [2] - The ruling party in South Korea recently proposed a digital asset fundamental law aimed at establishing necessary regulatory infrastructure to assist local companies in issuing Korean won stablecoins [2] - The appointment of Kim Yong-beom, a former executive from a cryptocurrency company, as the chief policy officer by President Yoon Suk-yeol signals a more proactive stance towards cryptocurrencies compared to the previous administration [2]

运筹帷幄之中，决胜千里之外。大家好，我是林超，全球金融市场观察者，专注加密货币市场分析，为大家带来最有深度的交易资讯解析及技术教学。 林超总结 虽然林超长期看好加密市场，但并不意味着这波红利是唾手可得的。一路上涨的市场是不存在的。短期内，甚至可以说是本季度内，加密市场整体大概率会 迎来一波比较深度的回调。我们以ETH为例，不知道大家看链上数据了没有，华尔街币圈巨头CumberLand在大跌前向Coinbase所转了4万多个ETH，这显然 是打算高位套现了，从以太坊大级别K线来看，两千八百多这里有非常大的阻力，是之前多次反弹的阻力位，也是曾经的下跌支撑位，是很多机构的离场位 置。林超觉得这里已经见顶的概率其实蛮大的，而且要考虑到ETH已经在两个月上涨超过了100%，这么大的获利盘，就算以后还能继续涨 也是要经过一个 深度回调的。 全球金融监管的巨轮正加速驶向数字资产深水区。当香港敲定八月实施《稳定币条例》，美国参议院紧随其后以显著优势通过里程碑式的《GENIUS 法 案》，韩国新政府也顺势推出《数字资产基本法》草案，拟允许本土合格企业发行稳定币——仅一季度，韩国五大交易所美元稳定币交易额就高达57万亿韩 元，其 ...

Group 1 - The SEC is actively pushing for the approval of Solana's spot ETF, which is expected to include staking features, potentially providing an additional 8% annual yield, making it more attractive than traditional ETFs [4][5] - Following the approval of the Solana ETF, the price of SOL is anticipated to surge by 20%, with significant inflows from Wall Street expected to further drive up the price [5] - The current price of SOL has retraced from a high of 188 to around 140, indicating a potential buying opportunity if it drops below this support level [5] Group 2 - The upcoming deadline of July 8 for Trump's tariffs is a critical date, as failure to reach an agreement may lead to the reinstatement of high tariffs, impacting market sentiment [12][14] - The recent rise in oil prices, which have increased by 40%, is likely to exacerbate inflation concerns, making it difficult for the Federal Reserve to adopt a dovish stance in their upcoming meeting [16][17] - The market is currently anticipating a potential interest rate cut in September, suggesting that July and August may present opportunities for lower entry points in investments [19][21]

2019年6月18日，Facebook（现Meta）发布Libra白皮书，提出构建一个由一揽子法币支持的全球性稳定 币，引发全球对数字货币未来的广泛讨论。六年过去，Libra虽未如期落地，但其理念深刻影响了稳定 币的发展轨迹。如今，稳定币已从边缘试验逐步纳入主流金融监管框架，成为连接传统金融与加密生态 的关键纽带。在这一进程中，中国香港、美国等地区率先立法规范，而中国企业如京东、蚂蚁集团也在 积极探索合规稳定币路径，为行业注入新的动能。 国信证券经济研究所所长兼银行业首席分析师王剑认为，人类对更美好的生活的探索永不止步。Libra 的试水为后来稳定币的探索提供了启发。目前，多个国家和地区已经将稳定币纳入监管，虽然目前大部 分稳定币方案依然难以堪当支付等基础职能，但各种监管条例的出台意味着政府愿意给未来一个机会， 继续探索之路。 Libra遗产与稳定币进化 Libra最初的设想是打造一个由多国法币储备支持的全球支付网络，通过协会治理模式降低对单一主体 的依赖。尽管因监管压力屡次调整（后更名为Diem），最终未能实现愿景，但其核心逻辑——通过锚 定资产实现价格稳定，并为跨境支付与数字经济提供高效工具——被后续的稳 ...