News

 U.S. Treasury Secretary Scott Baesent told Congress that traditional banking and financial products and services in the crypto sector may achieve deeper integration in the future. This Thursday, Baesent attended a Senate Banking Committee hearing, where Republican Senator Cynthia Lummis asked him whether traditional banks and the crypto sector are expected to launch similar financial products in the future. Baesent responded, "I believe that given time, this idea will eventually come true. In fact, we are working with small and community banks to explore feasible ways for them to participate in this digital asset revolution." Baesent emphasized that if the crypto industry lacks clear regulatory rules, relevant development is "out of the question," and called on the crypto industry to support the currently submitted legislation to Congress, named the "CLARITY Act," related to the structure of the crypto market. He said, "We must push for the CLARITY Act to take effect. Any market participants opposing this bill can go develop in El Salvador." Baesent stated, "We need to introduce safe, sound, and prudent operational guidelines and regulatory systems from the U.S. government for the crypto industry, while also preserving the innovation freedom of the crypto industry itself. I believe all parties are currently working to find a balance between these two."

ChainCatcher News, Bitget launches the 4th Weekend Party. During the event, users who register for the event will receive a trial fund airdrop, with a total of 10,000 USDT in trial funds available on a first-come, first-served basis. In addition, users who complete specific contract trading volume tasks will receive one lottery draw opportunity, with a maximum of 7 draws. Each additional draw increases the chance of winning the grand prize, and the winning rate is 100%. The prize pool includes USDT and physical prizes such as the iPad Air. 

According to a report by Bijie Network: Ripple CEO Brad Garlinghouse urged investors to remain calm and view the current market crash as a buying opportunity, quoting Warren Buffett's famous saying, "Be greedy when others are fearful." Previously, the price of XRP had plummeted, dropping nearly 70% from its all-time high, making it one of the worst-performing mainstream cryptocurrencies. Overall market sentiment has collapsed, and the Crypto Fear and Greed Index has fallen to 9, a level not seen since major historical crashes.