Top News

1.Trump Says Government Shutdown Is Close to Ending

2.GIGGLE Surges Over 30% in 24 Hours, Reaching a Market Cap of $166 Million

3.Macro Outlook This Week: CPI Data Likely Absent, Multiple Fed Officials to Speak

4.Bitcoin Surges Above $106,000

5.$106 Million Liquidated Across the Board in the Last 4 Hours, Longs Liquidated for Only $16.19 Million

Articles & Threads

1.《The Potential $8 Billion DeFi Thunder, Only $1 Billion Exploded》

The fund manager, a once trusted and now demonized figure in the stock market, carrying the wealth dreams of countless retail investors during the hot A-share period. At first, everyone was chasing after fund managers with Ivy League degrees and impressive resumes, thinking that funds were a safer and more professional alternative to direct stock trading. However, when the market plummeted, investors realized that the so-called "expertise" could not withstand systemic risks. Even worse, they took their management fees and performance bonuses, claiming gains as their own ability while losses came from investors' money. Today, as the role of the "fund manager" arrives on-chain with a new name "Curator," the situation has become even more perilous.

2.《Macro Reading: Powell's "Foggy Driving" and Financial "Hunger Games"》

Powell's "Driving in the Fog" metaphor is no longer limited to the Federal Reserve itself, but has become a reflection of today's global economy. Whether it's policymakers, businesses, or investors, all are navigating in an environment with limited visibility, relying on liquidity feedback loops and short-term incentive structures. The new policy regime exhibits three characteristics: limited visibility, fragile confidence, and liquidity-driven distortions.

Market Data

Daily Market-wide Fund Heatmap (as reflected by Funding Rate) and Token Unlocks

Data Source: Coinglass, TokenUnlocks

Funding Rate

Token Unlocks

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