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HTX data showed that ETH broke through 2000  USDT and is now at 2000.48 USDT, with a decrease of 1.35% in 24H.

[ETH broke through 2000  USDT] HTX data showed that ETH broke through 2000  USDT and is now at 2000.48 USDT, with a decrease of 1.35% in 24H.

ETH broke through 2000  USDT

On March 30th, the latest version of the crypto bill, the 'CLARITY Act,' garnered significant attention primarily due to its regulatory provisions targeting stablecoins. A report released by 10x Research suggests that in terms of practical implementation, the bill could have the most severe impact on DeFi and its associated tokens.

The core content of the bill's proposal is to prohibit offering wealth management yields, rewards, and all similar forms of returns on stablecoin balances. This effectively ends the attribute of stablecoins as on-chain savings products, redefining them as purely payment and circulation tools.

Markus Thielen, founder of 10x Research, pointed out, "This means that yield-bearing rights will clearly move back towards centralization." The reason is that the bill will consolidate yield-generating businesses within banks, money market funds, and various compliant licensed institutions, significantly compressing the competitive space for native crypto platforms in terms of yield returns.

Although early views suggested that DeFi might benefit from this, this shift in industry landscape will also impact DeFi.

Thielen explained that the previous market logic was: if centralized platforms no longer offer wealth management yields, user funds would shift to the on-chain DeFi ecosystem.

However, this inference was based on the premise that DeFi would not be subject to the same regulatory constraints. The reality is that the regulatory framework of the 'CLARITY Act' is likely to extend to cover front-end interfaces and various token models; especially when projects generate fee income and governance rights approach the attributes of traditional equity, regulators will intervene comprehensively.

[Analysts: 'CLARITY Act' May Pose Bearish Pressure on Yield-Bearing DeFi Tokens]On March 30th, the latest version of the crypto bill, the 'CLARITY Act,' garnered significant attention primarily due to its regulatory provisions targeting stablecoins. A report released by 10x Research suggests that in terms of practical implementation, the bill could have the most severe impact on DeFi and its associated tokens.

The core content of the bill's proposal is to prohibit offering wealth management yields, rewards, and all similar forms of returns on stablecoin balances. This effectively ends the attribute of stablecoins as on-chain savings products, redefining them as purely payment and circulation tools.

Markus Thielen, founder of 10x Research, pointed out, "This means that yield-bearing rights will clearly move back towards centralization." The reason is that the bill will consolidate yield-generating businesses within banks, money market funds, and various compliant licensed institutions, significantly compressing the competitive space for native crypto platforms in terms of yield returns.

Although early views suggested that DeFi might benefit from this, this shift in industry landscape will also impact DeFi.

Thielen explained that the previous market logic was: if centralized platforms no longer offer wealth management yields, user funds would shift to the on-chain DeFi ecosystem.

However, this inference was based on the premise that DeFi would not be subject to the same regulatory constraints. The reality is that the regulatory framework of the 'CLARITY Act' is likely to extend to cover front-end interfaces and various token models; especially when projects generate fee income and governance rights approach the attributes of traditional equity, regulators will intervene comprehensively.

Analysts: 'CLARITY Act' May Pose Bearish Pressure on Yield-Bearing DeFi Tokens

cfg Hits New High of 0.163 USDT, Up 4.96% in 24H

【cfg soared to 0.1688 USDT, a new high with a 24-hour increase of 4.96%. It currently trades at 0.163 USDT on HTX.】cfg Hits New High of 0.163 USDT, Up 4.96% in 24H

cfg soared to 0.1688 USDT, a new high with a 24-hour increase of 4.96%. It currently trades at 0.163 USDT on HTX.

On March 29th, "describing the recent shift in market expectations for central bank monetary policy as a '180-degree turn' seems insufficient." Just a few weeks ago, the market was anticipating multiple interest rate cuts by the Federal Reserve in 2026. Now, it has clearly begun to price in the possibility of a rate hike this year. 

Latest data from the CME FedWatch Tool shows that the probability of the federal funds rate being higher than the current range of 3.50%-3.75% by the end of this year is approaching 30%, while the probability of a rate decrease has fallen to 2.9%.

This shift in expectations is primarily driven by inflation concerns stemming from the energy market. Since the escalation of tensions in the Middle East in late February, Brent crude oil prices have risen from around $70 per barrel to approximately $111 per barrel currently. Concurrently, long-term U.S. Treasury yields have also surged significantly, with the 10-year Treasury yield climbing from below 4% a few weeks ago to around 4.40%.

The newsletter "Crypto is Macro Now" pointed out: "Food and energy prices will unfortunately continue to rise and remain at high levels for some time, at least until the issues with Middle East shipping disruptions are resolved. Even if a peace agreement were reached tomorrow (which is unlikely), it would still take months to see any relief."

[Market Reprices Rate Hike Expectations Amid Inflation and Geopolitical Concerns Reshaping Fed's Path]On March 29th, "describing the recent shift in market expectations for central bank monetary policy as a '180-degree turn' seems insufficient." Just a few weeks ago, the market was anticipating multiple interest rate cuts by the Federal Reserve in 2026. Now, it has clearly begun to price in the possibility of a rate hike this year. 

Latest data from the CME FedWatch Tool shows that the probability of the federal funds rate being higher than the current range of 3.50%-3.75% by the end of this year is approaching 30%, while the probability of a rate decrease has fallen to 2.9%.

This shift in expectations is primarily driven by inflation concerns stemming from the energy market. Since the escalation of tensions in the Middle East in late February, Brent crude oil prices have risen from around $70 per barrel to approximately $111 per barrel currently. Concurrently, long-term U.S. Treasury yields have also surged significantly, with the 10-year Treasury yield climbing from below 4% a few weeks ago to around 4.40%.

The newsletter "Crypto is Macro Now" pointed out: "Food and energy prices will unfortunately continue to rise and remain at high levels for some time, at least until the issues with Middle East shipping disruptions are resolved. Even if a peace agreement were reached tomorrow (which is unlikely), it would still take months to see any relief."

Market Reprices Rate Hike Expectations Amid Inflation and Geopolitical Concerns Reshaping Fed's Path

btw Hits New High of 0.025769 USDT, Up 4.83% in 24H

【btw soared to 0.026489 USDT, a new high with a 24-hour increase of 4.83%. It currently trades at 0.025769 USDT on HTX.】btw Hits New High of 0.025769 USDT, Up 4.83% in 24H

btw soared to 0.026489 USDT, a new high with a 24-hour increase of 4.83%. It currently trades at 0.025769 USDT on HTX.

Eric Balchunas, a senior ETF analyst at Bloomberg, posted on X stating that Bitcoin currently feels like when your parents started using Facebook. On one hand, with the "Boomers" entering, it's no longer as "cool." On the other hand, as this "coolness" faded, Facebook's user base grew from approximately 1 billion to 3 billion, making the implication quite clear...

[Bloomberg Analyst: Bitcoin Echoes Facebook's 'Coolness' Decline, Poised for User Growth]Eric Balchunas, a senior ETF analyst at Bloomberg, posted on X stating that Bitcoin currently feels like when your parents started using Facebook. On one hand, with the "Boomers" entering, it's no longer as "cool." On the other hand, as this "coolness" faded, Facebook's user base grew from approximately 1 billion to 3 billion, making the implication quite clear...

Bloomberg Analyst: Bitcoin Echoes Facebook's 'Coolness' Decline, Poised for User Growth

On March 29, Iran's Islamic Republic Broadcasting reported that an MQ-9 Reaper drone was shot down by the Iranian Army's air defense forces in the eastern part of the Strait of Hormuz. (Xinhua News Agency)

[Iran Claims Downing of MQ-9 Reaper Drone]On March 29, Iran's Islamic Republic Broadcasting reported that an MQ-9 Reaper drone was shot down by the Iranian Army's air defense forces in the eastern part of the Strait of Hormuz. (Xinhua News Agency)

Iran Claims Downing of MQ-9 Reaper Drone

On March 29th, according to HyperInsight monitoring, as Ethereum fell below $2,000, the total long positions held by "Machi Big Brother" Steven Huang, valued at over $15 million, are currently showing an unrealized loss exceeding $300,000. Among these, the ETH long position is valued at $10.87 million, with an opening price of $2,040.64 and a liquidation price of $1,950.33, potentially facing liquidation risk again.

[Machi Big Brother Faces Over $300K Loss on Long Positions, Liquidation Risk Looms]On March 29th, according to HyperInsight monitoring, as Ethereum fell below $2,000, the total long positions held by "Machi Big Brother" Steven Huang, valued at over $15 million, are currently showing an unrealized loss exceeding $300,000. Among these, the ETH long position is valued at $10.87 million, with an opening price of $2,040.64 and a liquidation price of $1,950.33, potentially facing liquidation risk again.

Machi Big Brother Faces Over $300K Loss on Long Positions, Liquidation Risk Looms

On March 29th, a group of Ethereum projects announced a new initiative aimed at addressing a growing problem within Ethereum: its ecosystem is becoming increasingly fragmented. Officially unveiled at the EthCC conference in Cannes, France, the project, named the 'Ethereum Economic Zone' (EEZ), aims to enable more seamless collaboration among Ethereum's numerous scaling networks, also known as Layer 2s (L2s).

The framework was jointly developed by Gnosis, Zisk, and the Ethereum Foundation. Gnosis is a development team with a long history in Ethereum infrastructure, while Zisk focuses on zero-knowledge proof technology.

For years, Ethereum has relied on L2 networks for scaling, but these networks have often operated like "islands." Users need to transfer assets between different networks using cross-chain bridges, a process that is typically slow, costly, and risky. Meanwhile, developers often have to rebuild the same tools on each network.

The EEZ aims to change this status quo, allowing these networks to operate as a unified system. In simple terms, it will enable applications and transactions on different Ethereum networks to interact instantly – without the need for cross-chain bridges, while still relying on Ethereum's core security.

This launch comes at a time when discussions about Ethereum's long-term reliance on the L2 scaling path are heating up. Ethereum co-founder Vitalik Buterin recently stated that the ecosystem may need to re-examine its L2-centric roadmap as fragmentation and user experience issues persist. The EEZ appears to be a direct response to such concerns, attempting to consolidate the entire network ecosystem by unifying liquidity, infrastructure, and user flows, rather than continuing to add more disconnected chains.

[Gnosis and Zisk Launch 'Ethereum Economic Zone' Rollup Framework, Co-Funded by Ethereum Foundation]On March 29th, a group of Ethereum projects announced a new initiative aimed at addressing a growing problem within Ethereum: its ecosystem is becoming increasingly fragmented. Officially unveiled at the EthCC conference in Cannes, France, the project, named the 'Ethereum Economic Zone' (EEZ), aims to enable more seamless collaboration among Ethereum's numerous scaling networks, also known as Layer 2s (L2s).

The framework was jointly developed by Gnosis, Zisk, and the Ethereum Foundation. Gnosis is a development team with a long history in Ethereum infrastructure, while Zisk focuses on zero-knowledge proof technology.

For years, Ethereum has relied on L2 networks for scaling, but these networks have often operated like "islands." Users need to transfer assets between different networks using cross-chain bridges, a process that is typically slow, costly, and risky. Meanwhile, developers often have to rebuild the same tools on each network.

The EEZ aims to change this status quo, allowing these networks to operate as a unified system. In simple terms, it will enable applications and transactions on different Ethereum networks to interact instantly – without the need for cross-chain bridges, while still relying on Ethereum's core security.

This launch comes at a time when discussions about Ethereum's long-term reliance on the L2 scaling path are heating up. Ethereum co-founder Vitalik Buterin recently stated that the ecosystem may need to re-examine its L2-centric roadmap as fragmentation and user experience issues persist. The EEZ appears to be a direct response to such concerns, attempting to consolidate the entire network ecosystem by unifying liquidity, infrastructure, and user flows, rather than continuing to add more disconnected chains.

Gnosis and Zisk Launch 'Ethereum Economic Zone' Rollup Framework, Co-Funded by Ethereum Foundation

According to Reuters, the crash of FTX exchange has injected greater urgency into regulating the crypto sector and targeting such ‘conglomerate’ platforms will be the focus for 2023, Jean-Paul Servais, the new chair of global securities watchdog IOSCO said in an interview. Jean-Paul Servais said regulating crypto platforms could draw on principles from other sectors which handle conflicts of interest, such as at credit rating agencies and compilers of market benchmarks, without having to start from scratch. Cryptoassets like bitcoin have been around for years but regulators have resisted jumping in to write new rules. But the implosion at FTX, which left an estimated one million creditors facing losses totalling billions of dollars, will help change that, Servais said. Crypto ‘conglomerates’ like FTX have emerged, performing perform multiple roles such as brokerage services, custody, proprietary trading, issuance of tokens all under a single roof that give rise to conflicts of interest, Servais said. “For investor protection reasons, there is a need to provide additional clarity to these crypto markets markets through targeted guidance in applying IOSCO’s principles to crypto assets. We intend to publish consultations report on these matters in the first half of 2023,” Servais said.

Detail

【Global regulators to target crypto platforms after FTX crash】According to Reuters, the crash of FTX exchange has injected greater urgency into regulating the crypto sector and targeting such ‘conglomerate’ platforms will be the focus for 2023, Jean-Paul Servais, the new chair of global securities watchdog IOSCO said in an interview. Jean-Paul Servais said regulating crypto platforms could draw on principles from other sectors which handle conflicts of interest, such as at credit rating agencies and compilers of market benchmarks, without having to start from scratch. Cryptoassets like bitcoin have been around for years but regulators have resisted jumping in to write new rules. But the implosion at FTX, which left an estimated one million creditors facing losses totalling billions of dollars, will help change that, Servais said. Crypto ‘conglomerates’ like FTX have emerged, performing perform multiple roles such as brokerage services, custody, proprietary trading, issuance of tokens all under a single roof that give rise to conflicts of interest, Servais said. “For investor protection reasons, there is a need to provide additional clarity to these crypto markets markets through targeted guidance in applying IOSCO’s principles to crypto assets. We intend to publish consultations report on these matters in the first half of 2023,” Servais said.

Global regulators to target crypto platforms after FTX crash

Article

BTC fell below 67000  USDT

Cryptoquant Analyst: BTC Below Key Realized Price of ~$72.5K, May See Months of Weakness

U.S. Marines Arrive in Central Command Area of Responsibility

Iran Agrees to Allow 20 Pakistani Vessels to Pass Through the Strait of Hormuz

IDF Completes New Round of Large-Scale Airstrikes on Iranian Capital

Global regulators to target crypto platforms after FTX crash

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