Last night to this morning, there have been many major news events in both the cryptocurrency market and the traditional financial sector. Let's quickly go over them.

The most eye-catching voices come from policymakers. Trump stated that the next Federal Reserve Chair has been finalized, and he also clearly expressed his stance on cryptocurrency policy, explicitly supporting the development of digital assets, and responded to rumors of conflicts of interest. Notably, he also explicitly denied that he would pardon FTX founder SBF, showing a firm attitude. On the other hand, the U.S. Treasury Secretary is calling on the Federal Reserve to act quickly by cutting interest rates to stimulate investment. Federal Reserve Board member Mester provided a more specific expectation — expecting about 150 basis points of rate cuts throughout 2026.

The institutional side is also not calm. Morgan Stanley announced plans to launch its own digital wallet product this year, marking a more concrete move by traditional major banks into the digital asset space. A leading exchange also officially announced that copper and platinum futures will go live on January 26 next year, further enriching their product lineup.

Regarding price forecasts, VanEck provided a bold figure — predicting that Bitcoin could reach $2.9 million by 2050. Although this long-term forecast sounds distant, it also reflects institutional views on Bitcoin's long-term value.

Additionally, regarding the recent collective departure of the Zcash development team, the Bootstrap team clarified the real reason behind it — they encountered legal restrictions while seeking external investment, which was the trigger, not internal disputes or project crises.