Odaily News At the opening of the US stock market, the Dow Jones Industrial Average rose 0.02%, the S&P 500 rose 0.12%, and the Nasdaq rose 0.22%. Tesla (TSLA.O) opened down 3%. The company was downgraded by multiple investment banks and fell nearly 15% last week; Circle (CRCL.K), the first stablecoin stock, continued its rise last week, rising more than 22%. (Jinshi)

Odaily News The initial pledge of Plasma, a stablecoin network backed by Bitfinex and Tether, ended in 2 minutes at 9 o'clock tonight. The XPL subscription amount will be allocated according to the deposit amount and pledge time. Among them, the whale/institution 0x790...41023 pledged 50 million USDC, and the pledge share of a single address accounted for 20%.

Odaily News RISE Chain, a Layer 2 blockchain focusing on low latency, announced the completion of a new round of financing of $4 million, with Galaxy Digital's venture capital arm Galaxy Ventures participating in the investment. The total financing amount of the project has reached $8 million. The new funds will be used to promote its mainnet launch to build a high-throughput, low-latency blockchain. (CoinDesk)

Odaily News According to Brazil's O Globo newspaper: Brazil will propose to impose a 17.5% income tax on all financial assets. (Jinshi)

Odaily News According to market news: The Plasma project's public token sale completed subscriptions for $500 million within minutes.

Odaily News Investors expect the Federal Reserve not to cut interest rates until September after a solid jobs report was released last Friday. Piper Sandler analyst Nancy Lazar wrote that although the U.S. economy may weaken, it will maintain its growth momentum even if the Fed does not cut interest rates. For one thing, the Fed's rate cuts last year may not have fully taken effect, given the typical lag effect. On the other hand, reducing the size of the federal government will free up labor for the private sector. Our basic forecast is that the U.S. economy does not need more rate cuts. The current weakness is the effect of the roller coaster tariff policy. (Jinshi)