News

21:00 (UTC+8) - 7:00 Keywords: Clarity Act, CFTC, Iran 1. A trilateral meeting between the US, Russia, and Ukraine may be held in Turkey next week; 2. Iranian officials emphasize "there will be no negotiations with the United States"; 3. Sources say the US government has asked Israel to stop attacking Iranian energy facilities; 4. The White House claims the war will end when Trump believes the objectives have been achieved and Iran surrenders; 5. US senators are attempting to advance the Clarity Act through a compromise on stablecoin yields; 6. Crypto journalists: US senators say all parties may need to make concessions on the Stablecoin Clarity Act; 7. US SEC Chairman: Will deepen coordination with the CFTC, including holding joint meetings and conducting company reviews.

This dispute originated from Gray Television's demand for a substantial increase in channel retransmission fees, which Dish Network considered to be far beyond a reasonable range. After negotiations failed, Gray Television chose to cut off the broadcast signals of several of its local stations to Dish users. This move will directly affect Dish Network subscribers' access to local news and programming from Gray Television. The two parties are still negotiating the terms of the retransmission agreement, but no new agreement has been reached yet.

According to Odaily, Bitwise Chief Investment Officer Matt Hougan stated that the price of bitcoin could potentially reach $1 million per coin in the future. He believes that when viewed from the perspective of the global "Store of Value" market, bitcoin's long-term potential becomes even clearer, as it is gradually competing with gold for the position of digital store of value asset. In his latest memo titled "How Bitcoin Gets to $1 Million," Hougan pointed out that the current global store of value market is about $38 trillion, of which approximately $36 trillion comes from gold, while bitcoin accounts for about $1.4 trillion, representing less than 4% of the market. Hougan believes that many investors underestimate bitcoin's potential because they overlook the growth rate of the store of value market itself. For example, when the first gold ETF was launched in the United States in 2004, the global gold market was only about $2.5 trillion; today, it is close to $40 trillion, with a compound annual growth rate of about 13%. This growth has been mainly driven by increasing government debt, geopolitical uncertainty, and loose monetary policy. If the store of value market continues to expand at a similar pace over the next decade, its size could reach about $121 trillion. In this scenario, bitcoin would only need to capture about 17% of the market share for its price to potentially reach $1 million. Hougan also pointed out that the development of the crypto market in recent years has laid the foundation for this outlook. For example, just a few years ago, there were no spot bitcoin ETFs in the United States, whereas now spot bitcoin ETFs have become one of the fastest-growing ETF products in history. At the same time, institutional investors, including the Harvard University endowment fund and the Abu Dhabi sovereign wealth fund, have also begun allocating to bitcoin.