比推

Original author: Ethan Reposted by: Daisy, Mars Finance
Original Title: Countdown to SOL Spot ETF: The Market Code Hidden in the SEC's Rare 30-Day Review Period
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This move is seen by the market as a clear signal of a shift in regulatory attitude, which quickly ignited bullish sentiment. The price of SOL subsequently surged, briefly breaking through $165, with a daily increase of up to 5%.
Market sentiment is rapidly warming up, with investors betting that Solana may become the third cryptocurrency, after BTC and ETH, to be included in mainstream finance's spot ETF. Against the backdrop of gradually clarifying ETF trading structures and warming regulatory signals, investors' focus has shifted from "whether it can be approved" to "when it will be approved" and "who will launch it."
Regulatory Trends: From Unimaginable to Gradual Acceptance, Solana Enters Review Countdown
The current SEC's emphasis

Author: Weilin, PANews
Original Title: French MicroStrategy? The Blockchain Group boldly claims to raise 10 billion euros to establish a Bitcoin treasury.
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There is an old saying in China, "The bolder the person, the greater the yield of the land." The French listed company The Blockchain Group, which holds 160 million USD in Bitcoin, claims it aims to raise hundreds of millions of euros to purchase Bitcoin.
On June 11, the technology company The Blockchain, located in Pitho, France, was listed on the Pan-European Stock Exchange in Paris.

Author: Two Prime
Compiled by: Tim, PANews
Original Title: From Retail Frenzy to Institutional Dominance, Is the Bitcoin Four-Year Bull Market Cycle Coming to an End?
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There has been a lot of discussion around Bitcoin's four-year bull and bear cycle. This pattern of exponential rises, dramatic crashes, and then reaching new highs has characterized most of Bitcoin's history. However, it must be noted that there are ample reasons to suggest that this four-year cycle may have come to an end.
First, a question needs to be raised: why is there a four-year cycle?
It can be summarized into three aspects:
halving effect
Every time the number of blocks increases by 210,000 (approximately every four years), the Bitcoin mining reward is halved. This mechanism typically causes a price increase in the following years by creating a supply shortage.
Asset scarcity is often measured by the stock-to-flow ratio (S2F), which is the ratio of the existing total supply to the annual new supply.

Original source: The Block, compiled by Mars Finance, Daisy
Original title: Is Bitcoin still suitable as a central bank reserve? Digital bank Sygnum: Strategy overbought!
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Overview:
Sygnum stated that strategic Bitcoin acquisition companies are accumulating excess BTC holdings through leverage, thereby undermining the suitability of Bitcoin as a central bank reserve asset.
Regulated digital asset banks indicate that these strategies distort liquidity and sentiment, posing long-term risks to the stability of Bitcoin and its broader adoption by institutional allocators.
A report released by Sygnum, a compliant digital asset bank for Bitcoin, pointed out that Bitcoin acquisition tools like Strategy (formerly MicroStrategy) have significantly increased institutional demand for Bitcoin, but their increasingly aggressive and highly leveraged buying methods.

Interview, organized by: Louis, ChainCatcher
Original Title: From the Republic of Ideal to "Expulsion Land": The Changing Landscape of Singapore as Seen by 5 Web3 Practitioners
June 30, 2025, is a red line marked on the calendar of every practitioner in the Web3 circle of Po County.
From this day on, according to Article 137 of the Singapore Financial Services and Markets Act (FSMA): all individuals or companies providing services related to digital tokens must obtain a Digital Token Service Provider (DTSP) license, as long as they have a place of business in Singapore, regardless of whether their clients are located in Singapore, or they will face criminal liability.
The Monetary Authority of Singapore (MAS) clearly stated in the regulatory response document released on May 30 that unlicensed entities must immediately cease overseas operations; the status of "application in process" will not be accepted as a basis for legal existence. This wording has been interpreted by many as "the most significant in history.

Trump's encryption strategy is becoming increasingly clear. Combining personal business interests with his policy agenda, he is actively promoting "pro-encryption" policies, relaxing regulations, and even launching multiple crypto asset products. The crypto assets are closely linked to his wealth and political stance, forming a satire of the concept of "Decentralization".