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)

Odaily News According to on-chain analyst Yu Jin’s monitoring, a whale went long on Bitcoin at 20 times on Hyperliquid, with an opening price of $107,089.9. The current overall position is $157 million, with a liquidation price of $101,570.

Odaily News Wall Street strategists are increasingly optimistic about the U.S. stock market, with forecasters at Morgan Stanley and Goldman Sachs noting that the resilience of economic growth will limit any pullback in the summer. Morgan Stanley strategist Michael Wilson abandoned his long-standing bearish stance in mid-2024. He said a significant improvement in the outlook for U.S. corporate earnings is positive for the S&P 500 by the end of the year. He reiterated his 12-month price target of 6,500 points, implying an increase of about 8% from current levels. Goldman Sachs strategist David Kostin said recent market movements show that investors are digesting optimistic growth prospects, and economically sensitive sectors are outperforming defensive sectors. (Jinshi)