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Zhao Changpeng: Binance's Greek MiCA license application was close to approval but was forced to withdraw due to external factors

According to The Block, Binance founder Zhao Changpeng stated that the MiCA license application submitted by Binance in Greece fully complied with regulatory requirements and was close to approval before being withdrawn, but ultimately the process was interrupted due to "external political factors."In an interview, Zhao Changpeng mentioned that several countries within the EU had expressed interest in the license, and there was even a certain degree of "competitive pursuit," but the regulatory progress was ultimately affected by non-regulatory factors, forcing the application to be withdrawn. Binance officially withdrew its application in Greece last week and stated that it would turn to other EU member states to continue pursuing MiCA authorization.In response to market rumors regarding his connections with high-level EU politicians, Zhao Changpeng stated that he had not seen any verifiable documents and only saw similar claims online, which he did not confirm. Zhao Changpeng also pointed out that the EU MiCA transition period will officially end on July 1, at which time platforms that have not obtained licenses must cease related services. Regulatory agencies in various countries have made it clear that they will not postpone enforcement, and they evaluate this outcome as a "lose-lose situation," using the regulatory processes in Japan and Singapore as examples to emphasize that compliance processes often require a longer period.Additionally, when discussing Strategy's STRC preferred stock product, Zhao Changpeng stated that its structure is "too complex" and expressed difficulty in fully understanding its mechanism, but emphasized that he does not comment on the credibility of its founder Michael Saylor, considering him a "staunch supporter of Bitcoin."

Kimi B's head of the department: There is a bubble in the AI industry, but the fundamentals are solid; the price increase of APIs is due to tight computing power

According to a report by 21 Finance, Huang Zhenxin, the head of Kimi B-end at Moonshot AI, stated in a recent communication meeting that there is indeed a bubble in the current AI industry, but the fundamentals are very solid. Enterprises can now clearly calculate the return on investment (ROI), and the substantial transformation in productivity brought by AI has already occurred.Regarding the recent phenomenon of widespread price increases among model vendors, Huang Zhenxin pointed out that the core reason lies in the rising global computing power costs, and chip production capacity cannot meet the explosive growth in Token demand. He emphasized that evaluating the cost-performance ratio of models should not only look at the unit price of input and output but should also focus on the Cache hit rate. It is reported that Kimi's original factory Cache hit rate has reached over 90%, significantly reducing actual computing costs.In addition, Huang Zhenxin revealed that Kimi will continue to challenge innovations in underlying architecture to sustain the Scaling Law, and its Muon optimizer, which has been validated on a large scale, is now widely adopted by several mainstream large models in the industry. Regarding the "last mile" of enterprise AI implementation, he believes that as the foundational capabilities of models continue to strengthen, the technical paradigms at the application layer will also continue to simplify.

first_img Survey: More than half of British wealth advisors say clients' cryptocurrency assets are not within their management scope, mainly due to company policy restrictions

According to The Block, a survey by CoinShares of 261 wealth management professionals in Europe shows that 52% of UK wealth advisors indicate that most of their clients' crypto asset exposure is outside their management scope (with a management gap exceeding 50%), while the overall percentage in Europe is one-quarter.The report points out that this "management blind spot" is primarily driven by company policies rather than a lack of advisor knowledge or client demand. In companies with explicit restrictions or a lack of internal guidance, the proportion of advisors actively recommending crypto assets is only 1%, while the management gap reaches 34%; in contrast, in companies with clear support, the recommendation rate is 48%, and the management gap is only 4%.The survey also found that the changes advisors most want to see are regulatory recognition of digital assets as a mainstream asset class (45%) and access to exchange-traded products (ETPs) (43%), rather than purely educational training.Currently, the UK's Financial Conduct Authority (FCA) has proposed allowing authorized funds to hold up to 10% in crypto ETPs, and the European regulatory environment is gradually shifting towards support, which may help narrow this management gap.

The cryptocurrency market is under pressure due to intensified selling of tech stocks, with Bitcoin briefly falling to a new low since October 2024

According to the Financial Times, affected by the intensified sell-off of tech stocks, Bitcoin has fallen to a 20-month low, and market risk sentiment continues to weaken. Bitcoin briefly dropped below $60,000, with an intraday decline of up to 5.4%, reaching its lowest level since October 2024. Over the past two years, traders have regarded $60,000 as an important support level. This round of decline occurred after a sell-off of large tech stocks this week. Traders are betting that the U.S. central bank will respond to inflation by raising interest rates, which may suppress risk appetite and prompt investors to reassess overvalued assets and turn to relatively safe assets.In recent years, the correlation between crypto assets and stock movements has been high, but this relationship is currently under pressure. Bitcoin and Solana have fallen 32% and 47% respectively this year, and even a rebound in the stock market has not led to a significant recovery. Part of the reason is that retail investors' demand for cryptocurrencies has decreased, turning instead to chase the volatility of AI-related stocks. Gerry O'Shea, Global Market Insights Director at crypto asset management firm Hashdex, stated that as large public offerings and AI stocks become the market focus, market sentiment remains weak. Analysts currently do not believe there are significant catalysts in the crypto market.The U.S. capital markets are still digesting the world's largest IPO, SpaceX, which went public on Nasdaq earlier this month, with AI companies like OpenAI and Anthropic also expected to follow suit. Meanwhile, the important U.S. digital asset regulatory bill, the Clarity Act, remains stalled in the Senate, facing strong opposition from the banking sector and has not yet garnered enough bipartisan support.
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