Policy setting, giants entering the market, and capital gathering: A complete analysis of the industry's trends

This week saw a deluge of exciting news in the global crypto and financial sectors, from government blockchain initiatives and regulatory policy wrangling to strategic moves by major companies and an influx of capital into the core ecosystem. Each of these hot topics has resonated with the market. The following categorizes the 10 most noteworthy events of the week, providing a clear picture of industry dynamics. The U.S. Department of Commerce announced a partnership with Chainlink to synchronize six key macroeconomic data from the U.S. Bureau of Economic Analysis (BEA) (including real GDP and the PCE price index) to 10 mainstream public chains, including Arbitrum, Ethereum, and Optimism. The data will be updated monthly/quarterly, directly supporting scenarios such as automated trading, DeFi risk management, and prediction markets. The US Department of Commerce has also selected Pyth Network to oversee data verification and distribution, with Coinbase becoming the project's crypto infrastructure partner. This marks the first time a major global economy has put core macroeconomic data on-chain, marking the evolution of blockchain from a "crypto industry tool" to a "national economic data service carrier," significantly improving data transparency and application efficiency. 2. The US banking industry urgently calls for revisions to the GENIUS Act, warning against stablecoins "stealing" $6.6 trillion in deposits. The American Bankers Association (ABA), the Bank Policy Institute (BPI), and other organizations have jointly called for revisions to the newly passed GENIUS Act. They point out a loophole in the act that allows trading platforms to pay interest to stablecoin holders, potentially leading to an outflow of $6.6 trillion in deposits from traditional banks, thereby weakening credit supply and raising borrowing costs for businesses and individuals. This battle is essentially a conflict of interest between "traditional finance" and "crypto innovation," and it also reflects the potential impact of stablecoins on the existing financial system. Future regulation may further clarify the interest calculation rules for stablecoins.

3. Trump's Removal of Federal Reserve Board Member: Financial Decision-Making "Shakes Up" and Policy Independence Raises Controversy

US President Trump issued a notice on TruthSocial, announcing the immediate removal of Federal Reserve Board Member Lisa Cook, citing "false statements in mortgage documents and damage to the integrity of the Federal Reserve." Cook responded that she would "continue to perform her duties," while her lawyer argued that Trump's removal lacked legal basis (the Federal Reserve Act requires the president to "show clear fault" and comply with proper procedures before dismissing a board member). This incident not only sparked controversy over whether the Fed's independence is undermined, but also potentially disrupted the pace of subsequent interest rate cuts. Cook had previously favored "cautious rate cuts," and her departure could indirectly influence the direction of US monetary policy. 4. Global Exchange Organizations Warn of "Tokenized Stocks": Beware of "Pseudo-Stocks" Undermining Market Integrity The World Federation of Exchanges (WFE, representing major global stock exchanges) sent a letter to regulatory bodies, including the US SEC and European ESMA, calling for strengthened oversight of "tokenized stocks." The WFE noted that some platforms promote "tokenized stocks" as "US stock tokens" or "equivalent to stocks." However, these products do not provide true shareholder rights (such as voting rights and dividend rights) and lack the investor protection mechanisms of traditional stock markets. These products could mislead investors, damage the reputation of listed companies, and even undermine the order of the global capital market. 5. Guotai Junan International Launches Crypto Trading Services: Traditional Brokerages Enter the Compliant Crypto Market Hong Kong-listed brokerage Guotai Junan International (1788.HK) has officially launched cryptocurrency trading services, supporting five major currencies: BTC, ETH, AVAX, LINK, and SOL. Professional Investor (PI) clients can also trade advanced assets such as XRP, USDT, and USDC. Furthermore, clients can allocate idle funds to Guotai Junan International's "Hui Cai Bao" plan, achieving integrated "trading + wealth management." CEO Qi Haiying stated that this move is intended to meet the needs of overseas investors for "compliant digital asset trading," and that the trading currency list will continue to expand in the future. This marks the official entry of Hong Kong's traditional financial institutions into the crypto trading market, further accelerating the regulatory compliance process. 6. Google Cloud Launches GCUL Blockchain Platform: Tech Giant Targets Cross-Border Payments and Asset Settlement Google Cloud announced the launch of GCUL, a distributed ledger platform. Its core goal is to simplify cross-border payments and asset settlements—using Python smart contracts to reduce transaction costs, improve efficiency, and promote 24/7 operation in the capital market. GCUL is currently in the private testnet phase and has previously partnered with the Chicago Mercantile Exchange (CME) on a tokenized asset pilot. Although Google Cloud's labeling of it as a "Layer 1 blockchain" has drawn community skepticism, the tech giant's entry into the market still offers a new path for the integration of traditional finance and blockchain. 7. Trump Media and Cryptocom Team Up: Raising $6.42 Billion to Create a CRO Treasury Company. Trump Media Group, crypto exchange Cryptocom, and SPAC Yorkville have reached a merger agreement to form "Trump Media Group CRO Strategy Inc." The company plans to raise $6.42 billion (including 1 billion CRO equivalents, 200 million in cash, and a $5 billion equity line of credit). The new company's core business will be to "large-scale purchase and staking of CRO" (the native token of Cryptocom's Cronos public blockchain). By deploying validator nodes, the company will generate returns, reinvest them, and build a digital economic infrastructure centered around CRO. This partnership ties together "political IP" and the "crypto ecosystem," potentially bringing both traffic and capital to the Cronos public blockchain.

III. Ecosystem and Capital: Core Currencies Are Popular, and the Industry Direction is Clarified

8. Capital Flocks to SOL: Listed Companies + Market Makers Raise Over $1.5 Billion to Acquire SOL

Galaxy Digital, Multicoin Capital, Jump Crypto, and other institutions plan to raise $1 billion to acquire SOL and have hired Cantor Fitzgerald LP as the lead underwriter;

Listed company Sharps Technology (STSS) completed $400 million in private equity financing and plans to launch with SOL as its core asset The "Digital Asset Treasury Strategy" also reached an agreement with the Solana Foundation to "subscribe for $50 million in SOL at a 15% discount." DeFi Development Corp. (DFDV) raised $125 million to expand the Solana Treasury. Currently, 13 institutions hold 8.277 million SOL (valued at approximately $1.69 billion), accounting for 1.44% of the total SOL supply. The Solana ecosystem has become the most popular crypto sector for capital this week. 9. Chinese Courts Clarify: Using Virtual Currency to Transfer Funds for Online Fraud Constitutes a Crime. The Supreme People's Court issued the "Interpretation on Handling Criminal Cases of Concealing and Hiding the Proceeds of Crime," and disclosed a case example: three individuals conspired to use virtual currency to transfer criminal funds for profit for an online fraud ring. The court ultimately convicted them of concealing and hiding the proceeds of crime. This judicial interpretation and case clarified that "virtual currency is not a 'protective umbrella' for crime," further delineating legal red lines for virtual currency transactions and warning market participants to stay away from illegal activities such as "fund transfers." 10. CZ predicts the future of the industry: DEX will surpass CEX, and AI + blockchain and RWA are breakthrough points. At the BNBDay event in Tokyo, Binance founder CZ shared his core views: If he were 20 years younger, he would focus on two directions: building a "simple AI trading agent" and developing a "privacy-focused perpetual DEX." He believes that DEX trading volume will surpass CEX in the future; RWA (tokenization of real-world assets) has great potential in securities, government bonds, and commodities, but needs to solve the three major challenges of regulation, KYC, and liquidity. BNB Chain is actively collaborating with builders; The next breakthrough point in the industry will come from the three major areas of "blockchain and AI integration", "RWA implementation", and "stablecoin innovation". Disclaimer: The content of this article is for reference only and does not constitute any investment advice. Investors should view cryptocurrency investments rationally based on their own risk tolerance and investment objectives and should not blindly follow the trend.