according to QCP Capital A report released on Wednesday , The dark cloud of regulation in the United States is shrouded in , Securities and Exchange Commission （SEC） It is even more delayed in approving The currency ETF. As report goes ,SEC warned , If coinbase Continue to launch plans that allow users to earn interest by borrowing encrypted assets , Will sue Coinbase. This makes the encryption market “ fever ” Ushered in a trace of “ Coolness ”.
This company is headquartered in SingaporeFund said , The recent rise has made the price of bitcoin break through 50,000 The psychological gateway of the dollar , This is a “ Fanatical ”. In addition, retail investors have made leveraged full investment in Shanzhai coins , Pushed some major counterfeit coins to new historical highs .QCP Also said , There is a feeling that , The current rally is too big to fall ,“ The resistance to our short bullish view last week can prove that .”
Although there are many successful bitcoins in Ontario ETF, but SEC Continue to oppose the approval of bitcoin in the United States ETF. The chairman of the committee, Gary · Gensler （Gary Gensler） The latest comment of , The Committee prefers futures based bitcoin ETF, Not in stock ETF.
QCP Capital Think , All this shows how high the market is for approved pricing , Some people think it will be in 10 Approved in June .QCP writes ：“ some time , around ETF The news will obviously continue to play a big role in the overall mood .”
About the SEC's threat to sue Coinbase, If it launches a loan product ,QCP say , If the SEC takes action on the market ,“ Many of the free rates of return in the United States will dry up , Then it means that many other directional long trades on it will also be closed .”
according to QCP That's what I'm saying ,“ Lending and yield products are the main force of many cryptocurrency institutions . The high base yield of cryptocurrency means that most institutions' alpha strategy also includes some form of leveraged market neutral lending .”
In addition to the yield problem ,QCP It points out a broader structural problem in the industry ： Us cryptocurrency licenses may depreciate . More blockchain messages , Please pay attention to download the fun coin website APP, Global blockchain regulatory query APP.
QCP Think , Cryptocurrency regulatory licenses in the United States have historically been at a considerable premium , Pointed out that FTX by LedgerX The price paid by the regulated cryptocurrency derivatives business , perhaps Coinbase Premium to its peers , Although its unregulated peers such as BINANCE There is more trading volume . however , If things go in one direction , This premium may be fundamentally challenged .
“ The excuse for this premium is , When government agencies turn their war on cryptocurrency to other platforms and exchanges （ Such as Binance） when , This will give them a free pass ,”QCP writes .“ If now a regulated U.S. entity , Provide a product already available in the United States , Through appropriate legal channels , Can face such severe action , Then no one can guarantee safety .”
notes ： The original text comes from blockworks, from Olivia compile , Copyright in English belongs to the original author .
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