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founder

The founder of the "Black Swan Fund" warns: the S&P 500 may drop sharply after reaching 8000 points

According to Jinshi News, Mark Spitznagel, founder and chief investment officer of the "Black Swan Fund" Universa Investments, stated that the upward trend of the U.S. stock market is far from over—at least for now.In a recent letter to investors, Spitznagel wrote that in the coming year, the market will continue to be in the "Goldilocks zone—where inflation and interest rates are declining, the economy is slowing but not excessively, and market sentiment turns euphoric—the stock market will continue to rise and end with a surge." However, he added that "the largest bubble in human history" has now entered its final stage.Spitznagel's hedge fund has been around for nearly two decades, focusing on tail risk hedging, which protects investors' portfolios from the impact of the next major crash. He stated that as long as the economy remains resilient, the stock market will continue to rise—a view he has maintained since the end of 2022. In an interview, he mentioned that market euphoria could drive the S&P 500 index to 8,000 points or even higher—followed by a sharp reversal.What is concerning is that if the Federal Reserve maintains the current interest rate levels for an extended period, companies will begin to struggle to raise funds. Spitznagel noted that although the economy appears resilient, there is a lag effect in monetary policy, and the Federal Reserve's excessive focus on lagging indicators like inflation has already fallen behind the situation."The Federal Reserve is currently holding steady, and as the economy gradually worsens, the market will expect more easing policies to be introduced," he said. In this context, the stock market will rise on expectations of more rate cuts, only to quickly decline during an economic slowdown. "At some point, the Federal Reserve will be powerless to turn things around, just like what happened in 2007 and 2008."

Consensys founder: Remains optimistic about the long-term development of the crypto space, ETH has stronger functional demand compared to BTC

According to Crowdfund Insider, Joseph Lubin, founder and CEO of Consensys and co-founder of Ethereum, recently shared his views on the current state and future trajectory of the cryptocurrency market during an interview in Hong Kong. Lubin expressed a cautiously optimistic outlook. He emphasized that the digital asset economy is continuously evolving, driven by functional utility rather than pure speculative forces.When discussing Bitcoin, Lubin believes it should not be viewed as a traditional safe-haven asset at this stage. He described the broader crypto landscape as still resembling a "startup ecosystem," suggesting that positioning Bitcoin as a secure store of value amidst current developmental challenges may be premature. In contrast, he highlighted that Ethereum's native cryptocurrency, ETH, has a stronger functional demand.Lubin believes that the practicality of ETH in driving decentralized applications, smart contracts, and broader ecosystem activities gives it an advantage in real-world adoption compared to Bitcoin's main narrative. He emphasized Ethereum's enduring importance in the evolving financial infrastructure.He pointed out that institutional participation is deepening, with major banks, trading platforms, and financial networks increasingly building on Ethereum-based technologies and layer two scaling solutions. He stated that this momentum at the institutional level indicates that even amid market fluctuations, Ethereum is transitioning towards becoming the next-generation financial foundation.Overall, Lubin's remarks reflect confidence in Ethereum's long-term potential under short-term market pressures. He portrayed the ecosystem as resilient and innovative, with tools like Ethereum and MetaMask poised to drive meaningful progress in the digital economy.

Openclaw founder: Not interested in billions of dollars in funding, the project must be open source to ensure widespread adoption

The founder of Openclaw, Peter Steinberger, recently confirmed in an interview with Lex Fridman that Openclaw has received acquisition offers from multiple companies. Regarding potential funding in the hundreds of millions or even billions, Steinberger stated, "I am not interested at all. I have been a CEO once, and that path would consume all my time and lead to conflicts of interest, such as prioritizing the enterprise version or modifying the open-source license, which would harm the community. What I want is completely free and open-source without any conditions. Moreover, relying on donations is simply not sustainable; even popular projects like Tailwind are laying off staff."Additionally, Steinberger mentioned that Openclaw is currently losing money. Monthly revenue is between $10,000 and $20,000, but it subsidizes personal maintenance of dependency projects. Companies like OpenAI provide some support, but it is still not sustainable. Regarding the option to collaborate with large labs, Steinberger stated that the core condition is that the project must remain open-source, similar to Chrome and Chromium. "This matter is too important to be left entirely to one company. Moreover, the community atmosphere of ClawCon is particularly precious; it embodies the enthusiasm that was present in the early days of the internet. I want to spread it to more people; this year is the year of personal agents, and collaborating with labs is the fastest way. I have never worked at a large company, and I want to experience that."
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