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On March 27, SEC chairman nominee Paul Atkins stated at a Senate hearing that he would promote deregulation, criticize several policies of his predecessor, and commit to establishing a clear rule system to foster innovation. He faced questioning and pledged to adhere to ethical standards and divest assets that could pose potential conflicts of interest. Atkins emphasized that he would operate transparently, listen to industry opinions, and that if appointed, he would influence the SEC's future policy direction regarding Crypto Assets and market structure.

Analysis of the Impact of Trump's Equivalent Tariff Policy and the Hedging Properties of Bitcoin
1. Analysis of Trump's Equal Tariff Policy
The "reciprocal tariff" policy recently introduced by the Trump administration is considered a significant turning point in the global trade landscape. This policy aims to adjust the trade rules of the United States to match the tariff rates on imported products with the rates imposed by exporting countries on U.S. goods. The policy's goal is to reduce the U.S. trade deficit and encourage the repatriation of manufacturing to the United States, but its impact will ripple through the global economy, potentially altering the trade policies and market structures of multiple countries.
The background of the implementation of this policy can be traced back to Trump's longstanding dissatisfaction with globalization. He believes that the primary beneficiaries of globalization are other countries, while the United States has become the "exploited" party. During his campaign, Trump promised to protect American manufacturing and jobs through a series of measures, readjusting the international trade landscape with American interests as a priority.
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Bitcoin pullback, alts market comes to life
Recently, the cryptocurrency market has shown an interesting trend. Although Bitcoin has retreated from its highs, Ethereum has behaved unusually, breaking through the $3600 mark. Meanwhile, several sectors such as Defi and Layer2 have also seen a broad rally, and the altcoin market seems to be revitalizing. However, just not long ago, the market situation was quite different. At that time, Bitcoin was nearing $100,000, while the altcoin market was bleak, with most tokens experiencing a cliff-like decline.
In this market environment, traditional financial institutions have shown interest in alts. With unprecedented regulatory benefits, they have begun to focus on altcoin ETFs, injecting a glimmer of vitality into the long-silent altcoin market.
Looking back at the situation a week ago, Bitcoin has been continuously rising, reaching $99,000, becoming a hot topic in major media. However, the usually active crypto community has rarely remained silent. In this

Fractal Bitcoin is an innovative Bitcoin scaling solution that utilizes a hybrid mining model to achieve rapid computing power rise and ecosystem integration, supporting development testing and user rewards. Despite facing technical and adoption risks, its potential is enormous and could reshape the Bitcoin ecosystem.

Homomorphic Encryption (FHE) is a technology that allows direct computation on encrypted data, with the potential to protect privacy, and is widely applicable in fields such as finance, healthcare, and cloud computing. However, FHE faces challenges in commercialization, including high computational overhead, limited operational capabilities, and complexity in supporting multiple users, particularly in real-time applications. Nevertheless, FHE is still expected to improve through hardware acceleration and algorithm optimization, and to play an increasingly important role in the context of the integration of Blockchain and artificial intelligence.

The Blend platform has been live for a week, with loan volume surging by 370.5%, facilitating 2,387 transactions and a total loan amount of 39,112 ETH. Although the trading volume is substantial, the number of participants is limited, with 574 borrowers and 501 lenders. Daily trading volume is on a downward trend, partly due to increased risk awareness and high Gas fees. The Milady series has performed exceptionally well, with the floor price continuously rising. The platform plans to introduce a new NFT series to expand its influence.

Recently, the US May inflation data exceeded expectations and slowed down, driving the crypto market to rise, but the price of Bitcoin fell due to Large Investors dumping. On-chain data indicates a large inflow of Bitcoin into exchanges, market sentiment is recovering but short-term Fluctuation has intensified, requiring attention to key support levels. Overall, the short-term is volatile, while the medium-term trend is optimistic.

Recently, an institution has attracted market attention by depositing 38,100 ETH to multiple trading platforms within six days, and additionally transferring in 6,789 ETH, totaling 44,889 ETH, approximately $113 million. The industry widely speculates that the institution is Arthapala, and its capital flow may affect market sentiment and the long-term value of ETH.

Research on Real Estate in the Physical Asset Tokenization Market
Introduction
The concept of physical assets ( RWA ) is not a new phenomenon in the cryptocurrency market, having existed since at least 2018. The asset tokenization and security token offerings ( STO ) at that time bore similarities to today's RWA concept. However, due to the immature regulatory framework and the lack of significant advantages in potential returns, these early initiatives failed to develop into a mature market segment.
In 2022, as the United States continued to raise interest rates, the yield on U.S. Treasury bonds significantly exceeded the lending rates of stablecoins in the crypto market. As a result, tokenization of U.S. Treasury bonds into RWA has become increasingly attractive to the crypto industry. Consequently, well-known DeFi projects such as MakerDAO, Compound, and Aave, as well as traditional financial institutions like Goldman Sachs, JPMorgan, Siemens, and even some governments have begun to explore RWA.
In the past two years, the market has seen

Meme tokens are a high-risk asset in the cryptocurrency market, often lacking formal planning. A recent meme token scam case has sparked discussion, with students involved being accused of fraud due to rapid withdrawal of liquidity, though there is controversy. Investors should be wary of legal and financial risks and participate in such transactions with caution.

The Public Chain Industry in 2024: From Technological Competition to Application Implementation
2024 marks an important turning point for the public blockchain industry, shifting the focus from technological competition to the actual application landing. In this year, the market value of public chains grew by 105.3% to reach $2.8 trillion, with Bitcoin's price breaking the $100,000 barrier and achieving institutional-level adoption through ETFs. The Ethereum Layer 2 network expanded to over 200 chains, and the Bitcoin Layer 2 TVL increased by 1,277.6%. These developments indicate that the industry is moving from the stage of technological experimentation to real-world applications.
Market Dynamics: Growth and Transformation
In 2024, the public blockchain industry achieved unprecedented growth, with multiple key indicators showing significant expansion.
The total market capitalization of public chains grew by 105.3% to reach $2.8 trillion. Bitcoin's dominance rose to 69.8%, while Ethereum's share fell from 20.4% to 15.2%.

The "2025 Bitcoin Strategic Reserve Act" aims to incorporate Bitcoin into the financial system of U.S. state governments as a strategic reserve to combat inflation and enhance financial resilience. The act emphasizes Bitcoin's anti-inflation potential while establishing secure custody measures and tax management, marking an experiment in financial innovation that is expected to provide new investment models and ideas for addressing economic uncertainty.

Crypto Assets exchange introduces Merkle Tree proof of reserves to enhance transparency and user trust. Although it effectively verifies user assets, it still faces limitations such as update frequency, fraud risk, and audit reliability. True fund security depends on multiple measures and regulatory frameworks.

This article provides an in-depth analysis of a modular toolkit designed for Blockchain development. The toolkit supports the rapid construction of customizable chain applications, featuring rich components and a flexible development environment. Developers can quickly get started, drop the development barriers, and apply it in various scenarios such as Decentralized Finance and identification verification. Its native cross-chain interoperability and governance mechanisms help projects achieve efficient and secure launches.

The emergence of DeepSeek has driven innovation in the field of artificial intelligence, having a profound impact on the crypto assets industry and challenging the traditional landscape of AI computing. DeepSeek disrupts top models with low-cost and high-efficiency strategies, prompting the industry to reassess its direction and potentially fostering the development of decentralized AI research and inclusive finance concepts. Although there are significant fluctuations in the market in the short term, it is still necessary to seek breakthroughs and positioning in the new environment.

In the blockchain industry, multiple Layer-1 projects are emerging, among which the Move language of Aptos and Sui has unique advantages. It is expected that in the future, more efficient scaling solutions will be achieved through zkEVM technology, promoting cross-chain interoperability, meeting user needs, and contributing to the development of the blockchain ecosystem.

BRC-20 Token is an experimental token standard based on the Bitcoin Blockchain, created and transferred through the Ordinal protocol for fungible tokens. Recently, the market activity of BRC-20 has significantly increased, but it faces issues such as difficulties in data retrieval. The Trac project, as a solution, provides real-time market information, convenient trading, and smart contracts functionality, enhancing user experience and expanding application scenarios, thus promoting innovation in the Bitcoin ecosystem.

In the past week, the US stock market experienced significant fluctuations, with a volatility range that was the largest since 2019, and the maximum fall reaching 8%. Mainstream Crypto Assets were also affected, with Bitcoin once falling over 15%, but rebounded due to technical oversold conditions. The market is following the Federal Reserve (FED) interest rate cut expectations and changes in economic data.