Odaily News According to Lookonchain monitoring, trader AguilaTrades seemed to be a bit greedy. After increasing his BTC long position to more than $400 million twice, BTC experienced consecutive pullbacks, forcing him to cut his positions: Last week, he made a profit of $5.8 million on his BTC long position but did not cash out, and eventually lost $12.47 million; This week, he made the same mistake again. Yesterday, his floating profit reached $10 million but was not realized, and now he has suffered a floating loss of more than $2.5 million.

Odaily News Coinbase is seeking approval from the U.S. Securities and Exchange Commission to issue blockchain-based stocks in the United States. If approved, the move will allow Coinbase to offer blockchain-based traditional stock trading, which will put it in competition with brokerages such as Robinhood and Charles Schwab. Coinbase Chief Legal Officer Paul Grewal described the move as a "top priority" while revealing that Coinbase is seeking a no-action letter or exemption from the U.S. Securities and Exchange Commission (SEC). Once the letter is obtained, it means that the regulator's staff will not take enforcement action if Coinbase continues to issue tokenized stocks. Paul Grewal declined to disclose whether Coinbase has formally submitted a request to the U.S. Securities and Exchange Commission or provided a launch timeline. (The Block)

Odaily News AltLayer posted on the X platform that the BEP20 → ERC20 cross-chain swap of 200 million ALT tokens has been completed, the total amount of ALT tokens in circulation remains unchanged, and the entire exchange process can be verified on the chain. Previously, due to Binance's growing demand for ERC20 ALT, the exchange's ERC20 ALT liquidity was seriously insufficient, so the Binance team requested AltLayer to assist in converting BEP20 ALT tokens to ERC20 ALT to balance liquidity.

Odaily News Nick Tomaino, founder of 1confirmation, said in a post on the X platform that the GENIUS Act is very beneficial to cryptocurrencies, and the market value of stablecoins will increase 10 times as a result. But it might be better if the bill was decided by market participants rather than by politicians dominated by corporate donors. The U.S. Congress agreed that stablecoins are good for the United States, and the best measure of the success of the bill is the total market value of stablecoins. Anyone can spend money wisely, and the market determines the best solution to achieve the goal.

Odaily News James Wynn posted on the X platform that Bitcoin may drop to $93,000-95,000 before rising further, and the market may face some volatility.

Odaily News The latest report released by cryptocurrency analysis firm TRM Labs on Tuesday shows that 99% of stablecoin trading activities in 2024 are "legal." This is particularly noteworthy considering that TRM also claims that stablecoins currently account for more than 60% of all cryptocurrency trading volume, which suggests that the connection between cryptocurrency and criminals is at least slightly exaggerated. It is reported that the GENIUS Act, one of the most comprehensive stablecoin legislation in the United States to date, will be submitted to the Senate for deliberation on Tuesday and is expected to be passed. (The Block)