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US Treasury Secretary Bessent discusses adopting the Bank of England model to strengthen oversight of the Federal Reserve, which may impact the relationship between the Fed and the government. He praised the Bank of England's independence reforms and criticized the Federal Reserve's quantitative easing policies, arguing they led to high inflation in the post-pandemic period.

Due to the ongoing US-Israel-Iran conflict, the US economy faces greater downside risks, with institutions raising the probability of an American economic recession. Moody's analysis shows that the recession probability over the next 12 months has reached 48.6%, while Goldman Sachs estimates it at 30%. If high oil prices persist, recession will become a real threat.

Bitpanda's Vision Chain aims to address infrastructure bottlenecks in Europe's financial sector and promote the mainstream adoption of tokenized assets. This proprietary blockchain is built on Optimism technology, providing institutions with a compliant environment for issuing and settling tokens, while utilizing a euro stablecoin to eliminate transaction fee volatility risk, fostering financial innovation and investment opportunities for users.

Circle's CRCL stock price plummeted 20%, primarily impacted by the Clarity Act, which prohibits stablecoin passive yield, severely affecting its core revenue source—reserve interest. Meanwhile, wallet freezing incidents have intensified market panic. Despite strong fundamentals, regulatory pressure will continue to impact USDC's long-term adoption and yield generation.

Swan Bitcoin filed a request in the U.S. District Court for the Southern District of New York seeking to subpoena Cantor Fitzgerald and its former CEO to obtain important documents related to its failed mining project. The company alleged that former employees stole confidential information and established a competing company, which resulted in the termination of its partnership with Tether.

A U.S. federal judge has approved a class action lawsuit against Nvidia and CEO Jensen Huang, alleging they concealed the company's dependence on GPU sales to cryptocurrency miners between 2017 and 2018, causing investors to underestimate risks. Nvidia was previously fined $5.5 million by the SEC.

A Texas federal court dismissed cryptocurrency developer Michael Lewellen's lawsuit seeking to confirm that his Pharos software is not subject to money transmission laws. The court found that Lewellen failed to demonstrate a genuine threat, and the case was closed with a "dismissal without prejudice," allowing Lewellen to refile a revised complaint.

Citi's Chief Investment Officer Kate Moore stated that investors are overly optimistic about a resolution to US-Iran issues, with price volatility indicating risk-taking market sentiment. She recommends building a resilient investment portfolio to address inflation and persistent conflict risks.

Author: José Maria Macedo, Delphi Labs Cofounder
Compiled by: Deep Tide TechFlow
Deep Tide Editor's Note: The Delphi Labs founder spent two weeks intensively visiting China's AI ecosystem, meeting numerous founders, investors, and public company CEOs.
His conclusion was unexpected: more bullish on hardware than anticipated, more bearish on software than anticipated, and his observations about Chinese founders overturned his previous understanding.
The article also covers popular topics including valuation bubbles, humanoid robot tracks, and information asymmetry between China and the West.
Full text follows:
I spent two weeks in China meeting a large group of founders, VCs, and public company CEOs in the AI ecosystem. Before going, I was bullish on this ecosystem and expected to see world-class AI talent working at valuations far below those in the West.
When I left...

US President Trump hopes to end the conflict with Iran as soon as possible, but peace negotiations remain in the early stages. The challenges he faces prevent him from focusing on other priorities, such as the upcoming midterm elections and the advancement of voter qualification legislation. The White House stated that Trump can effectively handle multitasking, with the goal always being victory.