Hong Kong, China June retail sales volume year-on-year

Approval of two giant companies: Green light for spot Bitcoin ETF! The U.S. SEC's approval of spot Bitcoin ETFs has been an important threshold. After that, other countries started to follow this path. The Hong Kong Securities and Futures Commission has approved Harvest International Asset Management Company and China Asset Management (Hong Kong) Co. Ltd. for coin circle asset management competencies. The move paves the way for the launch of spot Bitcoin ETF products, which are expected around the end of April. The updated list of virtual asset management fund companies on the official website of the Hong Kong Securities and Futures Commission reveals the inclusion of Harvest International and China Asset Management, marking their entry into the virtual asset industry in Hong Kong. These well-known public fund companies now have the necessary qualifications to promote "Coin Circles"-related money fund products to the public, including spot Bitcoin ETFs. #ContentStar# #HotTopicDiscussion# #BountyCreator# #GateioBountyCreator#

Against the backdrop of Fluctuation in the Crypto Assets market, the fate of WEMIX has attracted widespread attention within the industry. The latest data shows that while the Web3 gaming sector has attracted a lot of capital, its high average annual failure rate of 80.8% highlights the instability and risks in the sector. In addition, WEMIX announced in March 2024 that it would reduce its max supply by 60% in an attempt to improve its market position by restructuring tokenomics. However, WEMIX's market challenges are not unprecedented. In November 2022, WEMIX was exchange delisting by long Korea due to being marked as a warning item by the Korea digital asset exchange Association, and the price big dump to 0.42 USDT at one point. The incident severely affected its market capitalization and investor confidence. Despite facing significant market fluctuations, WEMIX continues to aggressively expand in the Blockchain gaming space. In 2023, by with Mirana

Mainland my country's criminal law does not explicitly deny that virtual currency constitutes "property". The recent judgment in Hong Kong can also serve as a positive reference for the protection of virtual currency criminal law in mainland my country.

On the early morning of July 31, Fed Chairman Powell's speech once again attracted the attention of global financial markets. The core content of this speech includes interest rate policy and economic situation assessment, which had multiple impacts on the Crypto Assets market. Regarding interest rate policy, the Fed has decided to maintain the benchmark overnight interest rate in the range of 4.25%-4.50%, marking the fifth consecutive meeting where the rate remains unchanged. It is worth noting that this decision has seen rare internal dissent, with two board members opposing it, arguing that the current monetary policy is too tight. Regarding the economic situation, Powell pointed out that the unemployment rate remains low and the job market remains robust. However, he also acknowledged that economic growth has slowed in the first half of the year and emphasized that uncertainty about the economic outlook remains high, with challenges facing both inflation and employment targets. This speech had multiple impacts on the crypto assets market. First, due to the lack of a rate cut signal, the market expects liquidity to continue tightening, which may put pressure on the prices of major crypto assets like Bitcoin and Ethereum. Second, the uncertainty in the macro economy may exacerbate volatility in the coin market, increasing the difficulty for investors to operate. In addition, although this speech did not focus on stablecoin regulation, considering the Fed's previous stance, the compliance expectations for stablecoins are increasing. This trend is beneficial in the long run for establishing a safer trading environment and attracting institutional investors, but in the short term, mainstream stablecoins may face regulatory challenges. In terms of market reaction, short-term traders may remain cautious due to increased uncertainty, while some medium to long-term investors may see this as a layout opportunity and begin to follow quality projects and ecosystem assets. This differentiated market sentiment may further exacerbate market volatility. Overall, Powell's speech reflects the Fed's cautious stance in the current economic environment. For Crypto Assets investors, this means a greater need to follow macroeconomic trends and be prepared to respond to market fluctuations.

In the crypto assets market, various concepts emerge endlessly, from L2 to AI chains, from meme coins to the tokenization of physical assets. However, there are very few projects that can truly take on the role of a "national-level financial system." Against this backdrop, CFX stands out as a unique entity worth following. As the only public chain in China that has obtained filing, CFX has multiple advantages. It possesses an advanced Tree-Graph high-performance consensus architecture, as well as AI native access capabilities in the Conflux 3.0 version. More importantly, CFX is playing a key role in the mapping of digital assets in Renminbi and real-world resources. The importance of this project is reflected not only in its technological aspects but also in its positioning within the national strategy. The tasks undertaken by CFX are related to the development of the national financial infrastructure, which means that its success is not merely an option, but a necessity. Although the current price of CFX may be somewhat disconnected from its actual value, this situation is likely to be temporary. In today's rapidly developing financial technology landscape, blockchain projects that are closely related to national policies often see their value reassessed and recognized by the market in a short period of time. For investors and industry observers, CFX represents a unique opportunity. It is not just another crypto assets project, but it could become an important part of future national-level financial infrastructure. In this rapidly changing industry, the development trajectory of CFX is worthy of our continuous attention and in-depth research.