Video | Weekly Market Analysis: Has the Golden Age of Cryptocurrency Begun? The White House Releases "Regulatory Bible"

The White House released a 160-page "Digital Asset Regulatory Framework," a collaborative effort involving six major agencies like the CFTC and SEC, which is seen as a major positive for the crypto market, potentially marking the start of a "golden age" for cryptocurrency in the U.S.
The Federal Reserve kept interest rates unchanged at 4.25%-4.50% for the fifth consecutive time, with strong U.S. GDP growth reducing the likelihood of short-term rate cuts, creating favorable conditions for crypto asset prices
Coinbase's Q2 revenue dropped 26% due to weak retail demand, but it launched a "Universal Exchange" plan to merge traditional and decentralized markets, while facing competition from platforms like Binance and Robinhood
Ethereum celebrated its 10th anniversary, with Layer2 solutions driving growth, though ETH's price dipped slightly after hitting a yearly high, with industry experts predicting significant ecosystem developments in the next six months

Compiled by Yuliya, PANews

At the intersection of crypto and AI, the truly important stories often lie hidden beneath the noise. To uncover these overlooked truths, PANONY and Web3.com Ventures have partnered to launch the English-language video series "The Round Trip." Co-hosted by John Scianna and Cassidy Huang, this episode will focus on the White House's 160-page regulatory framework, Coinbase's second quarter report, and Ethereum's tenth anniversary performance.

*Note: This video was released on August 2nd, and some data and dynamics may differ from the current situation.

TL;DR

1. White House releases crypto regulatory framework

The first 160-page "Digital Asset Regulatory Framework" jointly developed by cross-departmental agencies involves collaboration among six major agencies including the CFTC, SEC, and the Treasury Department, ending inter-departmental jurisdiction disputes.
It is seen by the market as a major positive, providing clear rules and development space for DeFi and start-ups, and may usher in a "golden age" of cryptocurrency in the United States.

2. Federal Reserve interest rate:

The Federal Reserve announced that the federal funds rate would remain unchanged at 4.25%-4.50%, marking the fifth consecutive time that it has remained unchanged.
The annualized growth rate of U.S. GDP reached 3% in the second quarter, indicating strong economic growth and reducing the possibility of interest rate cuts in the short term.
Analysts believe that stable interest rates and controlled inflation create room for asset prices (including crypto assets) to rise, and the market is currently in its best condition.

3. Coinbase’s strategic transformation

Launched the "Universal Exchange" plan, integrating DEX, expanding perpetual contracts and tokenized stocks (such as X Stocks), aiming to merge traditional and decentralized markets.
Q2 revenue fell 26% quarter-on-quarter, mainly due to weak retail demand.
DEX accounted for 23% of Q2 spot trading volume, with a large amount of trading volume shifting from spot to perpetual contracts (Perps), with Binance and Hyperliquiquit being the main platforms.
Traditional stock brokerage firms such as Robinhood are also entering the crypto market, creating potential competition for Coinbase.
Kraken plans to raise $500 million in pre-IPO funding (valuing the company at $15 billion) and explore tokenized stocks. Market interest in tokenized stocks continues to grow, and Coinbase faces more challenges in this area.

4. Ethereum’s 10th Anniversary

Layer2 expansion solutions (such as Robinhood’s self-built chain) drive ecosystem growth.
ETH hit a new high for the year earlier last week, but fell slightly due to the Fed's policy.
Industry insiders believe that the next six months may be an important stage for the Ethereum ecosystem, and may bring more innovation and change.