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The escalating tension between the U.S. and China has plunged into a financial conflict of epic proportions, teetering on the brink of catastrophe. Secretary of the Treasury Janet Yellen's plea for China to purchase $400 billion in U.S. debt went unanswered, sparking a series of retaliations that are rattling global stability. 💥 With the U.S. opting not to lower interest rates, directly targeting China's economic vitality, pressure mounts on China's stock market, constraining its global financial maneuverability. Efforts by Secretary of State Antony Blinken to coerce Beijing into cutting ties with Russia have fizzled, prompting a reassessment of U.S. strategies towards both economic and diplomatic fronts with China. 🇺🇸🇨🇳 Meanwhile, the U.S. is flooding the market with dollars, risking a staggering $54 trillion national debt by 2034 if current military and economic tactics persist. This relentless currency production threatens to destabilize the global market's capacity to absorb U.S. dollars, potentially leading to a financial implosion. 💸 As the U.S. flirts with the notion of instigating a global conflict to erase its debt, China strives to promote private firms and innovation, only to face hurdles as capital continues to flow into the U.S. The specter of drastic measures like severing Chinese banks from the international financial system looms, echoing the Huawei sanctions. 🛑 This financial battleground mirrors the Huawei debacle, signaling possible retaliation from China against the U.S. economy. Moreover, the U.S.'s weaponization of the dollar could expedite global de-dollarization, as nations seek refuge from U.S. economic volatility. 💣 Backed into a corner, everyday Americans could bear the brunt of economic turmoil akin to fentanyl withdrawal, while the wealthiest remain shielded. Dialogue between China and the U.S. is essential, with President Xi Jinnping emphasizing mutual understanding for improved relations. Yet, tensions persist, fueled by accusations and shadows of trade wars and espionage. 🤝 #HKETF #CryptoNews🚀🔥 #China #usa
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It's indeed a tough time for the crypto community as former Binance CEO Changpeng Zhao is sentenced to four months in prison. Judge Richard Jones delivered the verdict after considering the prosecution's push for a three-year term due to regulatory compliance issues during Zhao's tenure. 😔 However, the defense argued for probation, citing Zhao's lack of direct involvement in illicit activities. In court, Judge Jones acknowledged the absence of direct evidence linking Zhao to specific illegal acts, resulting in a reduced sentence. Despite this setback, Zhao's commitment to education through initiatives like Giggle Academy showcases his dedication to the crypto world's growth and development. 🌱 It's understandable to feel the absence of such a prominent figure during these four months, but let's hope for the best for CZ and the crypto community during this time. 🙏 Love You @CZ ❤️ #FreeCZ
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🇺🇸 U.S. presidential candidate Robert F. Kennedy Jr. proposes putting the U.S. budget on the blockchain for increased transparency, allowing taxpayers to track spending and combat corruption. 💰 Standard Chartered's Geoff Kendrick predicts Bitcoin hitting $150,000 by year's end, but some analysts doubt a lasting bull run post-halving due to declining miner rewards and transaction fees. 📉 The SEC delays its decision on spot Ethereum ETFs, dimming prospects for approval. Industry giants like BlackRock and Grayscale are vying for SEC's nod, but chances seem slim, with analysts giving it a 35% likelihood. 🔒 U.S. authorities crack down on wallet services: Samourai Wallet founders arrested for money laundering, zkSNACKs blocks U.S. users, and Phoenix Wallet ceases operations for U.S. residents. ⚖️ Legal battles ensue: Custodia Bank appeals to join the U.S. banking system, lawyer John Deaton supports Coinbase, and the SEC sues Bitcoin miner Geosyn. Consensys sues the SEC over Ethereum oversight. 📉 Spot Bitcoin ETFs see capital outflow, while BNY Mellon's exposure to BTC ETFs highlights growing institutional interest. Ethereum's Vitalik Buterin points out flaws in PoW design, and Movement Labs secures $38 million in VC funding, signaling continued investor interest in crypto. #HKETF #BitcoinETFs #fomc #Fed
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📢 Eigenlayer, the restaking protocol amassing $15.7 billion in deposits, unveiled its token whitepaper, confirming plans for an EIGEN token. 📄 The Eigen Foundation, supporting the protocol, detailed a total supply of about 1.67 billion EIGEN tokens, with 45% allocated to the EigenLayer community. 🌐 This 45% is split into three subgroups: stakedrops, future community initiatives, and ecosystem development, each receiving 15%. 🎉 In the inaugural "stakedrop" season, Eigen Foundation will distribute 5% of the token supply to users based on their staking activities from March 15. Claiming for these EIGEN tokens opens on May 10 and closes after 120 days. 💼 Investors will receive 29.5% of the token supply, while 25.5% goes to early contributors, both with a three-year lock period. ⏰ Users can secure EigenDA, Eigenlayer’s Actively Validated Service (AVS) for data availability, with their EIGEN tokens at launch. Other AVSs are expected to follow. 🔄 EigenLayer represents a new trend called "restaking," where users’ ETH tokens deposited as security on Ethereum can be repurposed to secure additional networks or protocols, collectively known as AVS networks on EigenLayer. #EigenLayer #eigen #restaking #tokens
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🚨 Early Bitcoin investor Roger Ver faces serious allegations of mail fraud, tax evasion, and falsifying tax returns. 💰 Ver allegedly concealed his Bitcoin ownership from the IRS, resulting in a reported loss of $48 million. ⚖️ The U.S. Department of Justice has accused Ver, who was arrested in Spain, and may face extradition to the U.S. 🇺🇸 Ver renounced his U.S. citizenship in 2014 after moving abroad, but U.S. law still requires him to report and pay taxes on worldwide capital gains. 🔍 He was a resident of Santa Clara, California, before obtaining citizenship in Saint Kitts and Nevis. 🕊️ Known as 'Bitcoin Jesus,' Ver was the former CEO of Bitcoin.com and played a significant role in the early days of Bitcoin investment. #rogerver #bitcoinhalving #BTC🔥🔥🔥🔥🔥
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