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According to attendees, U.S. Treasury Secretary Bessent stated during a closed-door meeting on Wednesday that there are no systemic issues in the artificial intelligence industry, and it cannot be compared to the internet bubble at the turn of the century. Bessent expressed an optimistic attitude towards this cutting-edge technology, believing that technological advancements will benefit the United States, but also acknowledged that data centers and AI companies have not done enough to explain the benefits of this technology to the average American.The closed-door meeting attracted over a hundred executives and investors from the financial industry, with ticket prices starting at $7,500 and top sponsorship packages costing up to $100,000. Proceeds from the meeting are used for charity. This year marks the 14th edition, having raised nearly $72 million in total. Bessent has publicly predicted multiple times that the development of artificial intelligence will significantly increase productivity and greatly boost U.S. economic growth. Currently, there is growing concern in American society regarding investments in artificial intelligence and data centers, leading to a sell-off of AI stocks.Former U.S. Treasury Secretary Yellen pointed out that she always confirms the presence of the media and issues public reports when she gives speeches. Bessent's office responded that his views expressed at the closed-door meeting had been publicly stated before and do not involve issues of transparency; in addition to artificial intelligence, he also discussed his views on the U.S. economy. More and more regions are beginning to oppose the construction of data centers, which is affecting the upcoming U.S. midterm elections, leading to a decline in support for U.S. President Trump and the Republican Party.

A source familiar with the relevant discussions stated on Tuesday that U.S. Treasury Secretary Mnuchin may take on the role of President Trump's "Artificial Intelligence (AI) Czar." Meanwhile, lawmakers in Washington are increasingly concerned about the risks posed by AI technology. Trump has previously downplayed concerns about AI and believes there is no need for additional regulatory measures.The U.S. Treasury Department did not immediately comment on Mnuchin's potential new role. Another source indicated that no decisions have been made yet. Trump stated last Saturday that he plans to appoint a new "AI Czar" and form an "AI Task Force," but did not disclose details.

U.S. Treasury Secretary Scott Bessent posted on the X platform, strongly urging the Senate to advance the legislative process of the cryptocurrency Clarity Act after the August recess. He stated that the bill would prevent "bad actors" from exploiting important digital asset technologies and called on all parties to stay at the negotiating table, agree to procedural motions, and continue the legislative process.Bessent warned that failing to pass the bill would send a troubling signal to allies and adversaries, indicating that the U.S. is unwilling to lead the future of digital assets and is willing to forgo national security tools to combat the abuse of digital assets. In July of this year, Bessent stated that if one wants to stand on the side of "American exceptionalism," the Clarity Act must be passed, citing remarks from Satoshi Nakamoto.The Clarity Act was passed by the House last year and aims to establish a regulatory framework that clearly delineates the regulatory classification of digital assets as securities, commodities, or stablecoins. The bill has stalled this year due to disagreements between banking lobbyists and cryptocurrency companies over stablecoin revenue issues. A new draft in July prohibits government officials from promoting cryptocurrencies or profiting from them, but some Democrats still believe the bill is inadequate and demand amendments. President Trump also urged lawmakers to push the bill through.

According to Bitcoin Magazine, U.S. Treasury Secretary Scott Bessent stated that the Treasury is rapidly advancing the implementation of the GENIUS Act. Bessent pointed out that the expected effective date of the Act is January 18, 2027, and the Treasury has begun arrangements accordingly.The GENIUS Act is an important federal legislation in the U.S. aimed at payment stablecoins, designed to clarify issuance, reserve, and regulatory requirements, providing a unified framework for compliant U.S. dollar stablecoins. Bessent's statement indicates that the U.S. Treasury is accelerating the preparation of supporting rules and execution in accordance with the statutory timetable to ensure the Act is operational before the effective date.

According to Jinshi, U.S. Treasury Secretary Yellen stated that as the market prices in inflation, global bond yields are rising.

According to Jinshi reports, former U.S. Treasury Secretary Yellen stated that she still believes there is a possibility of interest rate cuts later this year; however, the fluctuations in oil prices caused by the Iran war have cast a shadow over the outlook. Yellen pointed out that this is a broad supply shock affecting multiple areas, including gasoline, liquefied natural gas, fertilizers, food, shipping costs, and semiconductors. While the possibility of raising interest rates cannot be ruled out, stable long-term inflation expectations suggest that this is unlikely to happen. She expects that there may be interest rate cuts by the end of this year.

According to Jinshi reports, former U.S. Treasury Secretary Yellen stated that Federal Reserve Chair nominee Kevin Warsh lacks "credibility" in advocating for interest rate cuts.

U.S. Treasury Secretary Scott Bessenet wrote that the United States has long dominated global financial market regulatory standards, but this leadership is not a given. He urged Congress to pass the Clarity Act as soon as possible to establish a clear regulatory framework for digital assets.Bessenet cited data indicating that the global market value of digital assets has fluctuated between $2 trillion and $3 trillion over the past year, with about one-sixth of Americans holding some form of digital asset. The application of blockchain technology in payments, settlements, and physical asset exchanges continues to expand. He emphasized that cryptocurrency is no longer a niche experiment but a technology widely adopted globally, and the U.S. must take proactive measures to continue leading in the formulation of rules in this field.

U.S. Treasury Secretary Becerra posted on the X platform that he met with Salvadoran President Nayib Bukele at the "Americas Shield" summit held in Doral, Florida.He expressed his pleasure in hearing about Nayib Bukele's efforts to advance pro-market reforms and to make El Salvador a digital asset hub, while emphasizing that both sides will continue to work together to strengthen strategic cooperation in the Americas region.

According to Jinshi News, U.S. Treasury Secretary Basant stated that it is crucial to complete the legislation on cryptocurrency as soon as possible, and Trump will sign it this spring.

U.S. Treasury Secretary Yellen acknowledged during a closed-door meeting with Senate Republicans on Wednesday the suggestion made by some members—that the Senate Banking Committee, rather than the Department of Justice, should investigate Federal Reserve Chairman Powell. A knowledgeable lawmaker stated that this move is intended to "test" whether it might persuade North Carolina Republican Senator Thom Tillis to lift his hold on the Fed nominee."They want to dangle this condition in front of Thom and see if he accepts it," the lawmaker said. "Thom was expressionless at the time." Other sources indicated that this could be a viable compromise.A Republican congressman stated, "What the president wants is an investigation," and having the Banking Committee "satisfy this desire for an investigation" is certainly an option. However, the aforementioned first lawmaker expressed skepticism: "If Thom accepts, I would be quite surprised."

U.S. Treasury Secretary Yellen stated in an interview with Fox News that the cryptocurrency market structure bill needs to be passed in the spring, adding, "We need to get the cryptocurrency market structure bill done," while also expressing optimism about the passage of the bill.

U.S. Treasury Secretary Scott Basset recently publicly criticized Coinbase on Fox News as a "stubborn participant" for opposing the CLARITY Act. Basset emphasized the necessity of passing the CLARITY Act multiple times during last week's Senate Banking Committee hearing, using strong language against the opponents.It is reported that the CLARITY Act aims to clarify the regulatory division of cryptocurrency assets, with the SEC and CFTC overseeing different areas. However, Coinbase is concerned that it may restrict business models such as stablecoin rewards, leading to divisions within the industry.

U.S. Treasury Secretary Yellen posted on X platform expressing gratitude to Senator Cynthia Lummis for her ongoing efforts in the Senate to advance legislation on the critical market structure for digital assets. Signing the "Crypto Market Structure Bill" into law is essential; the digital asset revolution has arrived, and it is believed that as long as both parties in the U.S. lead together, this revolution can ultimately be achieved.

U.S. Treasury Secretary Becerra recently stated that Hong Kong is currently exploring a new financial system based on digital assets as a "sandbox" for financial innovation, raising market concerns about potential impacts on the pricing systems of Bitcoin and gold.Becerra added that there is currently no conclusive evidence to prove this, but related rumors continue to circulate in the market, and the U.S. is closely monitoring the situation. Analysts point out that if a sovereign digital asset system linked to gold emerges in the future, it could have a long-term impact on the existing U.S. dollar-dominated financial system and the pricing logic of crypto assets. However, at present, discussions are still more about policy and market speculation, with short-term impacts on the crypto market primarily driven by sentiment and expected trading.

According to Jinshi reports, the dollar exchange rate fell during Thursday's Asian session, halting the rebound momentum from Wednesday. Concerns about a potential depreciation of the dollar have resurfaced, outweighing the influence of U.S. Treasury Secretary Yellen's reaffirmation of a strong dollar policy. Damien Loh, Chief Investment Officer of hedge fund Ensemble Capital, stated that Yellen employed "strategic ambiguity" when discussing the dollar, attempting to ease market expectations of a comprehensive weak dollar policy.

According to Jinshi, former U.S. Treasury Secretary Yellen stated that the investigation by Federal Reserve Chairman Powell is "extremely concerning," and the market should pay attention to the independence of the Federal Reserve.

ChainCatcher message, regarding the controversy triggered by Trump's dismissal of Federal Reserve Governor Cook, former U.S. Treasury Secretary Yellen stated: Trump claims to have "fired" Cook for "just cause," but this action is not only illegal but also extremely dangerous. It is a direct attempt to politicize the Federal Reserve, an intimidation of its leadership, and an effort to force monetary policy to submit to the president's will.This move could end the independence of the Federal Reserve—resulting in a collapse of the credibility of U.S. monetary policy both domestically and internationally. Yellen calls on Congress to defend the independence of the Federal Reserve, the courts must reject this illegal abuse of power, and the financial community must speak out against this direct attack on the credibility of the dollar.