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The US economy is showing a divided state, with financial markets booming while the real economy is declining. The manufacturing PMI continues to contract, yet the stock market is rising due to concentrated profits in technology and financial companies, resulting in balance sheet inflation. Monetary policy struggles to benefit the real economy, and fiscal policy faces difficulties. The market structure leads to low capital efficiency, widening the gap between rich and poor and increasing social discontent. Cryptocurrency is seen as a relief valve, offering open financial opportunities. The economic cycle oscillates between policy adjustments and market reactions, lacking substantial recovery. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively updated by the Mars AI model.
Due to the reassessment of Federal Reserve rate cut expectations and the fading rebound of the U.S. stock market, the crypto market continues to experience liquidations, with significant ETF capital outflows and options traders increasing bets on volatility. Institutions warn that technical support for bitcoin above $90,000 is weak.
As long as the system continues to recycle debt into asset bubbles, we will not see a true recovery—only a slow stagnation masked by rising nominal figures.
- 14:46Founder of Cryptocurrency Investment Firm Sentenced to 5 Years in Prison for $9 Billion Ponzi SchemeJinse Finance reported that Oklahoma man Travis Ford has been sentenced to 60 months in prison and ordered to pay over $1 million in forfeiture and $170,000 in restitution for operating a cryptocurrency investment fraud scheme. As CEO and co-founder of Wolf Capital Crypto Trading LLC, Ford raised $9.4 million from approximately 2,800 investors through the company website and social media, falsely promising high daily returns of 1-2% (an annualized rate of about 547%). Ford has admitted that these returns could not be consistently achieved and confessed to misappropriating investor funds for personal and co-conspirator benefit. The case was investigated by the United States Postal Inspection Service and prosecuted by the Department of Justice Fraud Section.
- 14:44The three major U.S. stock indexes opened lower, with the Dow Jones down 0.49%.ChainCatcher news, according to Golden Ten Data, at the opening of the US stock market, the Dow Jones Industrial Average fell by 0.49%, the S&P 500 Index dropped by 1.05%, and the Nasdaq Composite Index declined by 1.45%. Most digital currency concept stocks and gold mining stocks weakened, with a certain exchange falling by 4.8% and Harmony Gold dropping by 4.1%. Technology stocks performed poorly, with Tesla down 3.78% and Nvidia down 2.1%.
- 14:40The three major U.S. stock indexes opened lower collectively.Jinse Finance reported that at the opening of the US stock market, the Dow Jones fell by 0.49%, the S&P 500 Index dropped by 1.05%, and the Nasdaq declined by 1.45%. Most digital currency-related and gold mining stocks weakened, with a certain exchange falling by 4.8% and Harmony Gold (HMY.N) dropping by 4.1%. Technology stocks were mostly in the red, with Tesla (TSLA.O) down 3.78% and Nvidia (NVDA.O) down 2.1%.