Potential Collapse of Crypto Market Structure Bill Raises Concerns

Galaxy CEO Mike Novogratz expressed concerns on the X platform about the potential failure of the crypto market structure bill. According to ChainCatcher, the disagreement over stablecoin yields is a key factor, highlighting U.S. politics overshadowing effective policy-making. Banks are reportedly opposed to crypto platforms offering rewards to users, fearing the current situation if the bill is rejected. Novogratz suggests that if the market structure bill is disrupted, banks and their supporting Republican and Democratic senators will be responsible, with American consumers being the biggest losers. He hopes rational thinking will prevail. Novogratz also noted that gold prices indicate the U.S. dollar is rapidly losing its status as a reserve currency, and the sell-off of long-term bonds is not a positive sign. Bitcoin's performance has been disappointing due to ongoing sell-offs, and its price needs to break through $100,000 to $103,000 to confirm a return to an upward trend.