BTC $77,250.06 +0.31%
ETH $2,437.91 +1.04%
BNB $695.37 +0.54%
XRP $1.52 +4.80%
SOL $95.10 +1.98%
TRX $0.3436 -0.09%
DOGE $0.0927 +2.82%
ADA $0.2250 +0.46%
BCH $273.41 -1.55%
LINK $11.49 -1.22%
HYPE $79.43 +2.74%
AAVE $136.76 +11.41%
SUI $0.8239 +0.52%
XLM $0.1985 +2.00%
ZEC $851.23 +7.56%
BTC $77,250.06 +0.31%
ETH $2,437.91 +1.04%
BNB $695.37 +0.54%
XRP $1.52 +4.80%
SOL $95.10 +1.98%
TRX $0.3436 -0.09%
DOGE $0.0927 +2.82%
ADA $0.2250 +0.46%
BCH $273.41 -1.55%
LINK $11.49 -1.22%
HYPE $79.43 +2.74%
AAVE $136.76 +11.41%
SUI $0.8239 +0.52%
XLM $0.1985 +2.00%
ZEC $851.23 +7.56%

pos

Proof of Stake (PoS) is a blockchain consensus mechanism that determines the accounting rights and reward distribution of nodes based on the amount and duration of token holdings. Compared to Proof of Work (PoW), PoS reduces energy consumption and enhances the scalability and security of the network. Token holders participate in network governance and transaction verification by staking tokens, earning block rewards and transaction fees. The PoS mechanism is widely used in blockchain projects such as Ethereum 2.0 and Cardano, promoting the development of green blockchain.
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Analysis: The U.S. Treasury's expansion of long-term Treasury bond repurchases triggers a Bitcoin short squeeze, with over $4 billion in short positions being liquidated

According to Fortune, Bitcoin surged significantly this week, breaking through the previous range of $62,000 to $67,000 that lasted for several weeks, and rising above $77,000 on Friday. The important turning point in the market occurred after the U.S. Treasury announced an expansion of its long-term Treasury bond repurchase program, leading to a decline in long-term U.S. Treasury yields and the dollar, while alternative assets like Bitcoin and gold strengthened simultaneously.The U.S. Treasury stated that it would at least double the scale of long-term Treasury bond repurchases to alleviate the ongoing selling pressure in the bond market. Meanwhile, the total amount of U.S. Treasury debt surpassed $40 trillion, combined with inflation and energy price pressures, raising concerns in the market about the purchasing power of the dollar and long-term fiscal conditions. Funds began to flow into the so-called "debasement trade," with Bitcoin accumulating a rise of over 20% this week.Previously, many traders bet that BTC would continue to be constrained around $67,000, but after the Treasury's actions pushed yields and the dollar down, Bitcoin broke through that price level, forcing short sellers to cover. Since covering positions requires buying BTC, this further drove up the price and triggered more liquidations. According to CoinGlass data, over $4 billion in cryptocurrency short positions have been liquidated during this rally as of Friday.Additionally, Trump urged Congress to advance the CLARITY Act at a cryptocurrency conference held at the White House this week. CFTC Chairman Mike Selig subsequently stated that he would use existing authority to promote the government's cryptocurrency policy agenda, which also provided a policy-level catalyst for this market rally.

Large U.S. banking organizations propose to include customer identification requirements for the secondary market of stablecoins

The Bank Policy Institute (BPI) is an organization representing large banks such as JPMorgan, Bank of America, Wells Fargo, and Citi. BPI proposed that the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury should expand customer identification program requirements to the secondary market for stablecoins, covering exchanges and other platforms that establish direct account relationships with retail investors.BPI stated that the relevant exchanges and platforms engage in a significant amount of buying and selling activities within the payment stablecoin ecosystem, where most illegal activities related to stablecoins occur. If the proposal is incorporated into the rules, the relevant platforms will be required to collect customer information in accordance with the Bank Secrecy Act, and decentralized exchanges may also fall under regulatory oversight. The proposed rules by FinCEN indicate that transactions in the secondary market for stablecoins on the blockchain typically use anonymous or pseudonymous identities, and there are no centralized nodes for collecting identity information, limiting the ability of issuers to gather customer data from the secondary market. BPI has also opposed the current version of the Digital Asset Market Structure Bill along with other banking organizations.
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