RockTree Capital Chairman: Web3 Industry Development Requires Support from Politicians, Lawyers, and More | RockTree OG Talk
Odaily News: During tonight's "RockTree OG Talk Series" online live broadcast, Omer Ozden, Chairman of RockTree Capital, expressed that the malicious signals released by the U.S. SEC have prompted investors to consider withdrawing, reducing investments in the crypto space, and even redirecting their investments to other areas, ultimately causing capital and job opportunities to gradually leave the U.S. market.
He believes that the U.S. needs to learn from Hong Kong. First, it needs to provide a relaxed environment and policies to prevent the outflow of Web3 companies, funds, talents, and job opportunities. Second, there needs to be leaders actively promoting Web3 and cryptocurrencies, similar to the Chief Executive of Hong Kong. Although the Mayor of New York has expressed a crypto-friendly attitude, it has not gained recognition from relevant regulatory authorities in Washington. "In our view, some politicians are using unfair means to protect the traditional financial interests of Wall Street. Their actions to some extent are detrimental to technological and legal innovation in the United States."
He further added that the Web3 sector in the United States needs someone to stand up and voice their opinions. For example, lawyers can use more reasonable and intelligent ways to let more people hear different voices. Beyond technological innovation, there is a need for innovation in the legal framework. "Supporters of the entire Web3 industry should include politicians, regulatory agencies, legislators, and lawyers."
It is understood that the "RockTree OG Talk Series" online live broadcast is jointly organized by RockTree Capital, a top-level Web 3.0 investment fund, and Odaily. This episode invites guests from institutions such as Baker & McKenzie and Secured Finance AG to discuss cryptocurrencies under global regulation, breaking information barriers and directly addressing the core of SEC regulation.
Odaily News: CME Group CEO Terrence Duffy stated that the U.S. Commodity Futures Trading Commission's (CFTC) attempt to expand its regulatory authority over prediction markets is "a bit of a stretch," and that the related regulatory dispute could ultimately reach the U.S. Supreme Court.Speaking at the DC Fintech Week event on Tuesday, Duffy said the battle over prediction market regulation could evolve into a legal showdown among state governments, tribal governments, and the federal government. "This is going to the Supreme Court, and I think the states and the tribes will prevail," he said. (The Block)
Odaily reports: Trader Killa says that for Bitcoin (BTC) to replicate its 2023 price action, it needs to form a higher low (HL) above $75,500 and ideally hold the low near $80,000.After Bitcoin recently reclaimed its short-term structure around the $82,000 zone, it pulled back to test and broke through again, with short-term price action showing strong characteristics of "bull traps and bear traps." When BTC previously fell from $84,100 to $81,000, the structure appeared weak, but a large number of shorts entering at the lows fueled the subsequent rebound.Killa noted that during the drop from $84,100 to $81,000, long liquidations totaled approximately $300 million, while during the earlier decline from $86,800 to $80,600, long liquidations exceeded $2 billion, indicating that the market's leverage structure is improving and the proportion of longs has declined compared to before. The market now needs to form a higher low and initiate the next leg up; otherwise, this correction could break below $80,000.
Odaily reports that according to MSX.COM data, US mega-cap cloud providers including Microsoft and Google rallied collectively. Google-A shares rose 1.07% to $356.510 per share, with a total market capitalization of $4.36 trillion.Microsoft shares rose 1.6% to $549.795 per share, hitting another record high, with a total market capitalization of $4.08 trillion. Amazon shares rose 0.93% to $261.950 per share, with a total market capitalization of $2.83 trillion.
According to MSX.COM data, Apple's stock price rose 1.74% in early trading to $346.892 per share, with a total market cap of $5.06 trillion, setting a new all-time high.
According to Lookonchain monitoring, today U.S. Bitcoin ETFs saw a net outflow of 788 BTC, with a 7-day net outflow of 8,267 BTC; Ethereum ETFs saw a net outflow of 29,926 ETH, with a 7-day net outflow of 217,087 ETH.
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