News

According to Odaily, Ark Invest founder Cathie Wood, in an interview with CNBC's financial program "Squawk Box" discussing the fate of Tesla CEO Elon Musk's $1 trillion compensation package and the recent decline in bitcoin prices, adjusted her price forecast for bitcoin. She stated that due to stablecoins potentially capturing part of the market share, she has reduced her bullish outlook on bitcoin. She now expects the price of bitcoin to reach $1.2 million by 2030, down from her previous forecast of $1.5 million. Previously, she was one of the industry's most prominent bullish forecasters for bitcoin. According to Odaily, the World Gold Council reported that global gold ETFs have achieved net inflows for five consecutive months, attracting $8.2 billion in October, which pushed their total assets under management up by 6% to a new month-end high of $503 billion. Meanwhile, holdings increased by 1% month-on-month to 3,893 tons. Gold market trading volume continued to surge, with the average daily trading volume in October reaching $561 billion, a record high and a 45% increase from the previous month. (Golden Ten Data)

Jinse Finance reported that Circle has submitted a comment letter to the U.S. Treasury regarding the implementation of the GENIUS Act, emphasizing recommendations for a comprehensive regulatory framework for stablecoins to ensure consumer protection, market fairness, and global interoperability. Circle believes that rulemaking should reinforce Congressional intent, provide clear and robust rules for all issuers accessing the U.S. market, and offer American people transparent and easy-to-understand financial products and services. Circle proposed a series of policy principles, including protecting customer funds, achieving interoperability through mutual recognition, ensuring the same rules for the same activities, maintaining competitive balance domestically and internationally, setting clear consequences, and establishing "emergency" plans.