Scan to download
BTC $61,575.68 +1.21%
ETH $1,591.98 +1.44%
BNB $578.67 +0.77%
XRP $1.12 +2.89%
SOL $63.86 +0.99%
TRX $0.3239 +1.31%
DOGE $0.0834 +2.88%
ADA $0.1613 +3.93%
BCH $219.20 +3.24%
LINK $7.57 +3.24%
HYPE $58.14 -2.08%
AAVE $62.34 +3.54%
SUI $0.7507 +7.43%
XLM $0.2119 +8.37%
ZEC $383.82 +3.66%
BTC $61,575.68 +1.21%
ETH $1,591.98 +1.44%
BNB $578.67 +0.77%
XRP $1.12 +2.89%
SOL $63.86 +0.99%
TRX $0.3239 +1.31%
DOGE $0.0834 +2.88%
ADA $0.1613 +3.93%
BCH $219.20 +3.24%
LINK $7.57 +3.24%
HYPE $58.14 -2.08%
AAVE $62.34 +3.54%
SUI $0.7507 +7.43%
XLM $0.2119 +8.37%
ZEC $383.82 +3.66%

claims

The founder of Strategy claims that the decline in BTC is due to the rotation of funds into AI rather than "issues with Bitcoin itself," and JPMorgan warns that the legislative window for the CLARITY Act is closing

According to BBX data, Bitcoin fell to a new low of $61,300 this year yesterday, putting pressure on the cryptocurrency sector. Key signals have emerged from institutions and the legislative level, with the core dynamics as follows:Michael Saylor, founder of Strategy, Inc. (NASDAQ: $MSTR), publicly stated on June 4 that the current decline in Bitcoin is not due to a deterioration in BTC fundamentals, but rather a "phase rotation" of capital from Bitcoin to AI stocks, SpaceX IPO, and other emerging assets—"Bitcoin is not broken; it’s just temporarily not the main character in the momentum trade." Saylor also reiterated his position of continued accumulation. Previously, Strategy spent approximately $2.01 billion (average price $80,985) to acquire 24,869 BTC in the week from May 11 to 17, bringing their total holdings to 843,738 BTC with a total cost of about $63.87 billion (average price $75,700); currently, BTC has fallen below the cost line of $12,300, and all of the company's holdings are in a state of unrealized loss, but management has not publicly indicated any intention to reduce their positions.JPMorgan Chase & Co. (NYSE: $JPM) reported by CoinDesk on June 4 warned in its latest research report that the legislative time window for the CLARITY Act to be voted on by the full Senate is "rapidly narrowing." The wording discrepancies in the stablecoin yield provisions have evolved into the most critical unresolved obstacle for the bill—banks insist on retaining restrictions on "passive income," while the cryptocurrency industry strives for "activity incentive space." If a compromise cannot be reached between the two parties within this month, the timeline for the Senate to complete a 60-vote approval before July 4 will be completely invalidated; the report also pointed out that the capital siphoning effect from the SpaceX IPO and AI stocks has further suppressed institutions' willingness to allocate to BTC in the short term.

The U.S. banking industry claims that the stablecoin provisions of the CLARITY Act still have loopholes

According to Cointelegraph, several major banking organizations in the United States have jointly stated that despite senators attempting to prohibit stablecoins from generating yields through the CLARITY Act, the latest wording in the bill still contains loopholes that fail to effectively prevent the outflow of bank deposits and do not adequately protect bank deposits.In a joint statement released, the American Bankers Association, the Bank Policy Institute, the Consumer Bankers Association, the Financial Services Forum, and the Independent Community Bankers of America pointed out that Section 404 of the bill allows crypto platforms to pay users interest or yields similar to bank deposits outside traditional rules, which is a significant loophole that needs to be addressed.Bank representatives warned that if the loophole is not closed, the large-scale adoption of stablecoins could lead to the loss of trillions of dollars in deposits from the U.S. banking system, particularly community banks, and could reduce loans to consumers, small businesses, and agriculture by more than one-fifth.Senator Thom Tillis responded that the current text has reached a compromise: it prohibits rewards on idle balances of stablecoins while allowing crypto platforms to offer other forms of customer rewards, believing this provides a possibility for bipartisan passage of the bill.However, the banking industry stated that it will submit specific amendment proposals to lawmakers in the coming days. The current text of the CLARITY Act was made public last Friday, and the crypto industry, including Coinbase, is pushing for a vote in the Senate next week.

Curve has launched a bad debt recovery mechanism, allowing impaired claims to exit through trading or participate in recovery

Curve Finance officially announced that it is introducing a bad debt recovery mechanism based on on-chain market mechanisms, allowing CRV-affected users in certain lending markets with bad debts to choose different recovery strategies: directly selling their claims to exit, continuing to hold and wait for potential recovery, or providing liquidity to earn fees and incentives. The core of this mechanism is to establish a trading pool between crvUSD and the tokens of the affected claims, allowing bad debt claims to be priced in the market and creating liquidity, thereby providing users with an immediate exit channel instead of relying solely on the final liquidation results.It is reported that after the cryptocurrency market crash in October last year, some lending markets under Curve Finance experienced bad debt issues, with various liquidity pools being impacted by severe price fluctuations and liquidity contraction, leading to some deposit users facing withdrawal restrictions and asset losses.Curve stated that the recovery mechanism will not eliminate losses or guarantee recovery, but will gradually reflect risks and recovery expectations through a market-oriented approach. Additionally, if the governance layer distributes rewards through the veCRV incentive mechanism, it will help enhance liquidity depth, improve exit conditions, and strengthen market pricing efficiency.
app_icon
ChainCatcher Building the Web3 world with innovations.