以太坊开发人员计划于 5 月 7 日推出 Pectra 升级主网

A new report shows Crypto Valley’s five-year compound growth rate hit 18.8%, with Zug remaining the hub of Switzerland’s 1,749 blockchain firms. Crypto Valley, the blockchain hub covering Switzerland and Liechtenstein, has grown by 132% since 2020 and now includes 1,749 active companies, according to the latest CV VC Crypto Valley Company & Industry Report shared with crypto.news. The report shows that the number of blockchain firms in Zug grew 14% over the past year, bringing its share to over 40% of all web3 companies. Zürich is next with 15%, while regions like Ticino, Geneva, and Luzern are also seeing steady growth. Crypto firms in Switzerland by category | Source: CV VC You might also like:International grocery chain Spar pilots Bitcoin payments in Switzerland Mathias Ruch, chief executive of CV VC, says the latest figures “highlight how Crypto Valley maintains its leading role in the global blockchain sector,” adding that “over the past five years, Crypto Valley has weathered global challenges, evolved, and diversified while growing at a CAGR of 18.8%.” Infrastructure and financial services are the largest sectors in Crypto Valley, accounting for 20% and 18% of firms respectively, followed by consulting and advisory at 17%. Commenting on the report’s findings, Heinz Tännler, president of the Swiss Blockchain Federation, said the data “proves that the Swiss blockchain industry is not only nationally relevant but also of global strategic importance.” Legal structures are also shifting. While most firms are still corporations or LLCs, associations and foundations made up over 20% of new filings in 2024. Read more:UAE and Switzerland lead as premier locations with no crypto tax, research finds

Bitcoin was conceived as the first sustainable electronic commerce network independent of financial institutions. Fifteen years later, there is much talk about how Bitcoin will strengthen the American dollar, while financial institutions are investing in cryptocurrency. At the same time, it is still possible to come across remarks like “fiat money’s days are counted” when the Bitcoin price goes up. Is Bitcoin a threat to the traditional financial system? Table of ContentsWhat do we learn from the Bitcoin whitepaper?Bitcoin as a banking system competitorHow do institutional investors and governments instrumentalize Bitcoin?Conclusion What do we learn from the Bitcoin whitepaper? Before launching the Bitcoin network on Jan. 3, 2009, Satoshi Nakamoto released the Bitcoin whitepaper, a nine-page document explaining the purpose and functioning of Bitcoin. It is titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” The Bitcoin whitepaper has a clear message regarding banks and the need for Bitcoin as a healthier alternative. Nakamoto states that the traditional commerce system “works well enough for most transactions,” however, he outlines several problems that he intends to solve using Bitcoin.  He emphasizes that the involvement of banks between the two counterparts creates additional costs for the mediation of the transaction. More than that, the system faces the task of struggling with fraudsters. It increases the costs and undermines privacy, as banks have to collect user information in order to ensure the authenticity of transactions. Despite this, fraud transactions are inevitable. Additionally, the mediation of banks means that transactions are reversible by design.  So, Bitcoin is intended to serve as a means of remote payments free of the mentioned issues, and Satoshi Nakamoto found the technical workaround for the problems inherent to transactions operated by banks. Nakamoto stresses that, unlike banks, Bitcoin is a trustless system, meaning that a third party cannot intervene in the transaction between two parties. Once your money's in the bank it's no longer your money ✌️Gold, Bitcoin, or beg. pic.twitter.com/NJQPrBpahm— Peter St Onge, Ph.D. (@profstonge) May 11, 2025 Nakamoto has criticized banks, both in the whitepaper and in a sophisticated way in the Genesis block, to which he attached a newspaper headline pointing at the situation in which the government is bailing out banks amidst the economic crisis of 2008.  However, instead of opposing banks or subjecting the banking system to scrutiny, Nakamoto offered an alternative system that may complement the banking system and deliver additional options to those who need them. Despite Bitcoin’s own drawbacks, the network is alive to this day and is gradually being absorbed by governments and financial institutions. Banks are creating Bitcoin treasuries these days. 🇨🇭 SWISS CENTRAL BANK JUST URGED TO CREATE A STRATEGIC #BITCOIN RESERVE AT ANNUAL MEETINGIT’S HAPPENING!!! 🚀 pic.twitter.com/8N93xwCvLC— Vivek⚡️ (@Vivek4real_) April 25, 2025 Bitcoin as a banking system competitor While some see Bitcoin as a replacement for the traditional financial system or central banks, it doesn’t seem to be the case. Bitcoin is good for sending transactions across the globe. As history has proven, Bitcoin has a great potential for long-term value appreciation, so it can be used as a store of value. The latter characteristic became the reason why, in 2025, various governments and companies started to grow their Bitcoin treasuries.  Stablecoins are a type of cryptocurrency that has huge potential and significance. Those who can’t stand Bitcoin’s volatility prefer stablecoins both as a store of value and as a means of remittance. More than that, stablecoins may have significance for central banks, but we’ll address this in the last section of the article. Bitcoin itself is not fit to replace the banks. It doesn’t regulate interest rates nor manipulate the money printing. You cannot get a loan using Bitcoin (however, it is possible to do it via specific DeFi platforms that we don’t discuss in this article). However, Bitcoin and other cryptocurrencies are in use as a store of value and remittance tool in multiple African countries where millions of people don’t have bank accounts, but the smartphone penetration rate is high, which opens an opportunity to use blockchain-based solutions as a replacement for the banking services. However, the main type of crypto in Africa is stablecoins.  Read more:African crypto revolution continues as Ethiopia ranks among global BTC mining leaders Finally, there is a way to rationally interpret messages about the potential defeat of the fiat money system to Bitcoin. It shouldn’t be understood literally as Bitcoin replacing fiat money, but as the preference for Bitcoin over fiat money when it comes to savings. Some people prefer to save money with Bitcoin, as its price is more sustainable than that of national currencies in their countries.  So, when someone reacts to another Bitcoin price spike by saying “fiat money’s days are counted,” it means that it becomes less and less rational to save money in national currency. However, as of 2025, it is still easier to spend money using traditional avenues.  How do institutional investors and governments instrumentalize Bitcoin? Institutional investors are getting increasingly interested in Bitcoin. It’s early to declare that Bitcoin is something normal for all of them, but these days, Bitcoin is way less marginal than it was in 2017 or even 2021. They start to perceive Bitcoin as a strategic investment. JUST IN: $11 TRILLION BLACKROCK CIO SAYS INSTITUTIONAL INVESTORS ARE "FOCUSED ON #BITCOIN RIGHT NOW"ALL OTHER CRYPTOS ARE A "DISTANT SECOND" 🔥 pic.twitter.com/OKVpaFIvO3— The Bitcoin Historian (@pete_rizzo_) April 28, 2025 The latest Gallup poll shows only 4% of Americans see crypto as a worthy investment, preferring to invest in real estate, gold, and stocks. However, in 2024, Bitcoin investments brought bigger returns than the NASDAQ stocks. It couldn’t go unnoticed by professional traders and investors. BlackRock has a Bitcoin-based ETF called IBIT. The capital management giant recommends allocating up to 2% of the portfolio to Bitcoin. BlackRock manages over 625,000 bitcoins, which is nearly 3% of Bitcoin’s total supply. Bitcoin ETFs approved in early 2024 allowed huge institutional investors to take advantage of Bitcoin’s ascending value. Strategy (formerly known as MicroStrategy) became a Bitcoin Standard-based public company, meaning that it gradually collects more and more Bitcoin in its treasury. Its stock MSTR became the fastest-growing stock. Governments see the use of Bitcoin in various ways. For instance, Russia and Iran use crypto, including Bitcoin, to bypass Western sanctions in their overseas trade. North Korean hackers steal crypto to fund the country’s nuclear program. The U.S. needs Bitcoin to weaken the American dollar, which will leverage export trades, while popular USD-pegged stablecoins will continue to keep the dollar as a global reserve currency. Conclusion It’s hard to say how radically anti-banking Satoshi Nakamoto himself was. In his whitepaper, he only outlined several issues with the banking system and offered a workaround. While Bitcoin was made to empower individuals’ financial independence, it has now become a staple of Wall Street and the government, which doesn’t mean that others are somehow blocked from Bitcoin’s advantages. Love it or hate it, the anti-banking ethos is not mainstream among Bitcoin investors. You might also like:What is a genesis block? Powering blockchain networks

随着比特币下跌，波动性蔓延，希夫预见到了终结。但鉴于标准普尔指数现在也反映了比特币的走势，比特币真的要失败了吗？ 目录比特币再次“死亡”2025 年会发生什么？Bitcoin in past crises 比特币再次“死亡” 彼得·希夫长期以来一直是比特币 (BTC) 最直言不讳的批评者之一。多年来，他一直坚持认为该资产缺乏内在价值，其价格纯粹由投机驱动，并且会在真正的经济危机面前崩溃。 比特币诞生于2008年的金融危机。讽刺的是，2025年的金融危机将会摧毁它。— Peter Schiff (@PeterSchiff) 2025年4月10日 4 月 11 日，他在 X 上重申了这一观点，写道：“比特币诞生于 2008 年的金融危机。讽刺的是，2025 年的金融危机将会扼杀它。”他的言论将比特币的起源与其潜在的垮台直接联系在一起。 To evaluate that claim, it helps to revisit the conditions that led to Bitcoin’s creation. The 2008 financial crisis brought the global financial system to the brink.  Several major banks either failed or required urgent bailouts. Credit markets seized up, and investor confidence evaporated.  In response, central banks slashed interest rates to near zero and launched aggressive monetary interventions that defined the decade ahead. Bitcoin emerged in the midst of this turmoil. Its release in early 2009 was rooted in a clear intent to propose an alternative monetary framework. One that removed central authorities, eliminated the possibility of bailouts, and introduced a transparent supply mechanism immune to political interference. So if a crisis gave birth to Bitcoin, can another one eliminate it? Or has Bitcoin endured precisely because financial systems remain fragile? Let’s find out. 2025 年会发生什么？ 要评估比特币是否能够抵御未来的金融危机，首先必须了解当前金融危机的性质。 与2008年因银行系统崩溃而引发的危机不同，2025年的动荡主要是由政策选择引起的，尤其是全面征收关税。 4 月 1 日，特朗普总统宣布全面提高关税，影响超过 75 个国家，税率从 11% 到 50% 不等，具体取决于产品和原产地。 中国作为美国最大的贸易伙伴，被排除在总体政策框架之外，反而面临更为严厉的贸易限制。 The announcement caught global markets by surprise and set off immediate volatility across equities, commodities, and currency markets. In the days that followed, the economic fallout deepened.  U.S. stock indices lost more than $12 trillion in value across a few trading sessions, while bond markets showed signs of strain, with the yield on the 10-year Treasury briefly rising above 4.5%. Under growing pressure, the White House revised its approach. On Apr. 9, it announced a 90-day suspension of most tariffs, although restrictions targeting China remained in place.  The announcement helped calm markets temporarily. Bitcoin (BTC), which had dropped to around $74,500 earlier in the month, rebounded toward the $83,000 to $85,000 range after the pause. Analysts identified that level as a key area of technical resistance. 虽然关税的暂时下调带来了一些短期缓解，但并没有消除对投资者情绪或全球贸易势头造成的更广泛损害。 中国对此反击来回，首先是征收报复性关税，税率从34%开始，截至本文撰写时已升至125%，使双方的对抗升级为全面的贸易僵局。 目前已有 70 多个国家正在与美国进行重新谈判，但不确定性仍然给市场带来沉重压力。 过去危机中的比特币 尽管与传统资产相比，比特币尚显年轻，但它已经历经了多场危机，从全球市场崩盘到系统性银行倒闭。每一次危机都让我们深入了解它在压力下的反应，以及为何难以对其进行简单的分类。 The COVID-19 crash in March 2020 marked its first major test in a macroeconomic crisis. As global markets unraveled, Bitcoin plunged by more than 50%, falling from around $9,000 to under $4,500 within days.  Yet the rebound was equally sharp. Within two months, it had recovered all losses, and by year-end, it was trading above $28,000.  The rally was fueled by a mix of retail demand, growing institutional interest, and reflation-driven trades, supported by a wave of central bank liquidity. 2022 年，压力来自加密生态系统内部。Terra 的崩溃和 FTX 的破产引发了深度回调。比特币从 2022 年初的 45,000 美元以上跌至 11 月的 16,000 美元以下。 虽然这些事件是加密货币所特有的，但它们是在全球流动性收紧的背景下发生的，美联储积极提高利率以抑制通胀。 也许最能说明问题的时刻出现在 2023 年初，当时硅谷银行和 Signature Bank 等美国地区性银行在几天之内相继倒闭。 随着人们对存款安全性和央行干预的质疑声四起，比特币价格在不到两周的时间内大幅上涨，从约 2 万美元飙升至 2.8 万美元以上。对许多投资者来说，比特币一度似乎成为了规避传统银行风险的避风港。 这些事件表明，比特币的行为并不是固定的。在市场普遍承压期间，它通常像风险资产一样交易，但在机构失灵或货币不确定时，它也会吸引资本。 比特币并不是一种传统的对冲工具，而是一种替代资产，其作用取决于每次危机的性质和起源。 最近的市场动荡进一步模糊了界限。正如彭博社的 Eric Balchunas 所观察到的，“标准普尔 500 指数现在和比特币一样波动。” 标准普尔 500 指数现在和比特币一样波动 pic.twitter.com/OrO68Z0HiS— Eric Balchunas (@EricBalchunas) 2025年4月10日 传统资产和数字资产之间的关联不再那么明显，投资者越来越多地将它们视为同一风险领域的一部分。 This complexity is often missed in binary arguments. Schiff continues to frame downturns as existential threats to Bitcoin. Others see the asset as inherently resilient, gaining strength when conventional systems show cracks.  So far, the truth has been more nuanced. Bitcoin is neither immune nor obsolete, it is adaptive, and its relevance depends on what breaks next.

美国证券交易委员会前主席加里·根斯勒 (Gary Gensler) 将重新加入麻省理工学院斯隆管理学院，担任实践教授。 麻省理工学院 1 月 27 日发布的新闻稿称，加里·根斯勒将同时担任全球经济与管理小组和金融小组的成员，负责研究人工智能、金融、金融科技和公共政策。 除了担任教授之外，他还将担任麻省理工学院最大的研究实验室——计算机科学与人工智能实验室的 FinTechAI 联合主任。 在拜登政府期间担任美国证券交易委员会主席并监管 120 万亿美元的美国资本市场之前，Gensler 曾于 2018 年至 2021 年担任麻省理工学院斯隆管理学院的实践教授。他还曾担任奥巴马总统任期内的商品期货交易委员会主席，负责监督 2008 年后 400 万亿美元掉期市场改革的实施。 你可能还喜欢：特朗普的“黄金时代”也可以是加密货币的黄金时代 | 观点 Gensler 的反加密立场 然而，在加密货币行业，Gensler 以其严厉的“一切都是安全”立场而闻名。Gensler 与国会和其他美国监管机构的关系一直存在争议，并批评了旨在制定更清晰的加密货币监管框架的法案。 他一再表示，除比特币 (BTC) 之外的大多数加密货币都应被视为证券，因此属于 SEC 的管辖范围。2022 年 1 月，Gensler 在宾夕法尼亚大学法学院资本市场协会年会上表示：“事实上，大多数加密代币都涉及一群企业家从公众那里筹集资金以获取利润——这是我们管辖范围内的投资合同或证券的标志。” 作为@MITSloan 的毕业生，看到他们重新聘用 Gensler 感到非常尴尬和失望我在麻省理工学院通过与@mitDCI 的独立工作第一次了解并爱上了加密货币对于任何希望学习的学生来说，这都是时间、学费和精力的浪费……— Devin Walsh (@devinawalsh) 2025 年 1 月 29 日 阅读更多：根斯勒将辞去美国证券交易委员会主席职务：特朗普上任后接下来会发生什么？

《富爸爸穷爸爸》的作者罗伯特清崎预计，随着特朗普的新关税政策生效，比特币和贵金属的价格可能会下跌。 清崎并不认为这会影响市场，而是计划将价格下跌视为买入机会。 清崎在最近的一条推文中指出，特朗普的关税可能是导致黄金、白银和比特币 (BTC) 价格下跌的催化剂。然而，他强调，真正的潜在担忧仍然是不断增加的债务负担，他认为债务负担只会加剧。 特朗普开始征收关税：黄金、白银、比特币可能会崩盘。很好。价格崩盘后会买更多。真正的问题是债务……只会变得更糟。崩盘意味着资产被出售。是时候变得更富有了。— Robert Kiyosaki (@theRealKiyosaki) 2025 年 1 月 31 日 Kiyosaki 看到了购买机会 作者将市场崩溃视为以折扣价购买资产的机会，并指出，“崩溃意味着资产正在出售。这是致富的时候了。” 这种观点与清崎长期以来的投资理念和他之前的市场预测一致。今年 1 月初，他警告称市场将出现“巨大崩盘”，同时仍看好另类资产。 他一直批评美联储、财政部和银行系统依赖印钞，认为这种做法有利于资产持有者，而损害了美元储蓄者的利益。 你可能还喜欢：埃隆·马斯克的父亲推出 Musk It 代币，引发 Solana 拥堵 清崎还讨论了他认为是比特币力量的关键的两个经济原则。他引用了格雷欣法则来解释系统中的“劣币”如何导致“良币”躲藏起来。 清崎认为，比特币与黄金和白银一起推动美元走向这一地位。此外，他还强调了梅特卡夫定律和网络的力量，将比特币日益增长的影响力与麦当劳等成功的商业模式进行了比较。 尽管预测比特币可能会崩盘，但 Kiyosaki 对比特币的长期前景仍持乐观态度。他认为市场低迷是积累资产的机会，而不是令人担忧的原因。这位金融作家的最新评论发表之际，市场正在消化特朗普新关税政策的影响及其对各种资产类别的潜在影响。 消息一出，加密货币确实承压。周六早上最后一次检查时，以下货币处于下跌趋势： 加密货币价格增益 +/-比特币（加密货币：BTC）102,240 美元0.3256美元-2％柴犬（加密货币：SHIB）0.0000187美元