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#日元跌至40年低点 When Both Rate Hikes and Intervention Fail: The Deep Predicament of the Yen Breaking Through 162
On June 30, 2026, the yen weakened past the 162 mark against the US dollar, reaching 162.17, a nearly 40-year low since December 1986. This drop breached the 161.95 line that had prompted Japanese authorities to intervene in the market in July 2024.
What is most surprising is that the yen's depreciation is occurring against the backdrop of the Bank of Japan's continuous rate hikes. On June 16, the Bank of Japan raised its benchmark interest rate to 1%, the highest since 1995. The Japanes
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#AsteraLabs领涨芯片股 When "Connectors" Are Scarcer Than "Computing Power": The Logic Behind Astera Labs Leading Chip Stocks
On June 29, U.S. chip stocks staged a "deep V" reversal — the Philadelphia Semiconductor Index initially fell over 3% in early trading, but closed up 3.83%. The leader was not Nvidia, but a company founded only nine years ago: Astera Labs (ALAB), which surged 16.39% in a single day.
Who is Astera Labs? It does not make CPUs or GPUs, but focuses on interconnection technology for AI infrastructure — solving the data transmission bottleneck between chips within data centers, and
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🏆 Gate Hot Chat World Cup Football Discussion
⚽ World Cup Top 32 Predictions | France 🇫🇷 VS Sweden 🇪🇸
European giants have been losing consecutively!
🇩🇪 Germany eliminated in penalty shootout
🇳🇱 Netherlands eliminated in penalty shootout
Tonight, it's France's turn to play!
🔥 Can Mbappé lead the team to advance smoothly?
Or will Sweden become the next upset team?
💬 Leave your predictions in the group:
🏆 Who will advance to the next round?
🇫🇷 France / 🇸🇪 Sweden
📊 You can also predict the final score directly!
🎁 Today's Prediction Reward
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🏆Gate World Cup Chat Challenge⚽Round of 16 Prediction|Brazil🇧🇷VS Japan🇯🇵Five-time champions Brazil are chasing their sixth World Cup title. Can Japan break through for the first time and reach the quarterfinals? One is a traditional World Cup powerhouse, the other a representative of Asian technical football. Which team do you think will advance?💬Leave your prediction in the group chat:🏆Who will advance to the next round?🇧🇷Brazil/🇯🇵Japan⭐Who will be the Man of the Match? Vinícius Júnior/Japan player/Other player📊You can also predict the final score!🎁Today's Prediction RewardOne us
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Gate_Square
🏆 Gate World Cup Chat Challenge
⚽ Round of 32 Prediction|Brazil 🇧🇷 VS Japan 🇯🇵
Five-time champion Brazil is chasing its sixth World Cup title. Can Japan finally break through and reach the quarterfinals for the first time?
One is a traditional World Cup powerhouse, the other is Asia’s technical football representative.
Which team do you think will advance?
💬 Leave your prediction in the group:
🏆 Who will advance to the next round?
🇧🇷 Brazil / 🇯🇵 Japan
⭐ Who will be the Player of the Match?
Vinícius Jr. / A Japanese player / Other players
📊 You can also predict the final score!
🎁 Today’s Prediction Reward
1 user with a correct prediction will be randomly selected
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📢 Join the real-time match discussion
Chat football, make predictions, and win rewards every day!
👉 Join the Gate World Cup Chat Group:
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#PredictWorldCup🇧🇷vs🇯🇵
⚽ Brazil 🇧🇷 vs Japan 🇯🇵 match overview, stadium, and kickoff time details are summarized below: ⏱️ Match Time and Broadcast Info Date: Monday, June 29, 2026 (today) Turkey Time (TSİ): 20:00 Local Time (Houston): 12:00 (noon) 🏟️ Stadium Info: NRG Stadium
Brazil 🇧🇷: After drawing 1-1 with Morocco in the group stage, they defeated Haiti and Scotland with clear 3-0 victories, finishing top of the group. Star player Vinícius Júnior has scored in all 3 matches he has played in this tournament (4 goals total), showing outstanding form. Despite key injuries like Rodr
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Miss_1903
#PredictWorldCup🇧🇷vs🇯🇵
⚽ Brazil 🇧🇷 - 🇯🇵 Japan match summary, stadium and time info compiled in one message:⏱️ Match Time and Broadcast InformationDate: Monday, June 29, 2026 (Today)Turkey Time (TRT): 20:00Local Time (Houston): 12:00 (Noon)🏟️ Stadium Info: NRG Stadium
Brazil 🇧🇷 Front: After drawing 1-1 with Morocco in the group stage, they became group leaders by passing Haiti and Scotland with clear 3-0 scores. Star player Vinicius Jr. has scored in all 3 matches he played in the tournament (total 4 goals) and is in great form. Despite critical injuries like Rodrygo and Eder Militao, the Samba Boys are the clear favorite for the round.Japan 🇯🇵 Front: They finished their group undefeated in second place by drawing 2-2 with Netherlands, 1-1 with Sweden, and beating Tunisia 4-0. The team's creative leaders Takefusa Kubo and Takumi Minamino are absent from this match due to injuries. The Asian representative will look for a surprise with a solid defense and fast counterattacks.
Brazil: They have an unbeaten record in their last 5 matches, with 4 wins and 1 draw. They average 3.0 goals per match while conceding only 1.0 goal per match. The Samba Boys, one of the biggest favorites of the tournament, stand out with their productivity in the attacking line.
Japan: The Asian representative, known for its disciplined and compact game, has a structure that can spring a surprise at any moment. In the last friendly match between the two teams played in October 2025, Japan managed to win 3-2 with a historic comeback. This situation instills confidence in Japan psychologically.
Brazil, despite its absences, is in the position of clear favorite for the round due to squad depth and tournament experience. However, the lack of attacking creators like Kubo and Minamino in Japan will push the team towards a more defense-oriented and counterattack-based game. A scenario is expected where Brazil will possess the ball and apply pressure, while Japan will resist with a solid defense.
Important Absences in TeamsBrazil: In attack, Rodrygo (knee ligament injury), Raphinha (hamstring) and Estevao; in defense, Eder Militao and Wesley will not be able to play.Japan: The most creative players Takefusa Kubo (knee) and Takumi Minamino (knee ligament injury) along with midfield leader Wataru Endo are definitely not in the squad due to injuries. In defense, Itakura's condition is doubtful
Brazil: After drawing 1-1 with Morocco in the group stage, they became group leaders by passing Haiti and Scotland with clear 3-0 scores. Star player Vinicius Jr. has scored in all 3 matches he played in the tournament (total 4 goals) and is in great form.
Japan: They finished their group undefeated in second place by drawing 2-2 with Netherlands, 1-1 with Sweden, and beating Tunisia 4-0. They are known for their disciplined defense and fast transition attacks.
Score Prediction 2 - 1 Brazil 🇧🇷 superiority. ⚽
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🎉 Community Growth Lucky Draw 2️⃣ 0️⃣ is now live — Become the lucky winner of Gate Square!
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🎉 Community Growth Lucky Draw 2️⃣ 0️⃣ Is Live — Become Gate Square's Lucky Winner!
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#现货黄金跌破4000美元 On June 24, 2026, spot gold fell below the $4,000/oz threshold during trading, hitting a low of $3,958/oz. This marks the first time since November 2025 that gold prices have returned to the "3,000" range. Compared to the all-time peak of $5,598/oz recorded at the end of January, gold prices have retraced approximately 30%, exceeding the 20% technical bear market threshold. Meanwhile, spot silver has halved from its January high, dropping over 8% at one point during the session.
🔍 Core Driver: Narrative Reversal from "Rate-Cut Trade" to "Rate-Hike Trade"
This represents the fund
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FatYa888
#现货黄金跌破4000美元 On June 24, 2026, spot gold fell below the $4,000/oz integer mark during trading, hitting a low of $3,958/oz. This marks the first time since November 2025 that gold prices have returned to the "3,000" range.
Compared to the historical peak of $5,598/oz at the end of January, gold prices have retreated approximately 30%, exceeding the 20% threshold for a technical bear market. During the same period, spot silver has halved from its January high, at one point dropping over 8%.
🔍 Core Driver: Narrative Reversal from "Rate Cut Trading" to "Rate Hike Trading"
This represents the fundamental collapse of the underlying logic behind gold's three-year bull market.
The core driver of gold's surge in 2025 was market bets that the Federal Reserve would significantly cut rates in 2026. However, the June FOMC dot plot showed that 9 out of 19 members supported at least one rate hike within 2026. The market quickly repriced: the probability of a September rate hike surged to 70%, while the probability of a July hike rose from 9% a week ago to 35%.
Treasury yields rose sharply—the 10-year yield stood above 4.50%, up about 0.7 percentage points from the February low of 3.97%. As a non-yielding asset, the opportunity cost of holding gold has risen sharply. ING analysts clearly stated: "The main driver behind the recent drop in gold has been the significant repricing of interest rate expectations."
💵 Dollar and Geopolitics: A Perfect Storm with Dual "Assists"
The dollar index simultaneously surged to 101.8, a 13-month high. Gold, priced in dollars, became more expensive for non-USD buyers, with physical buying shrinking in tandem.
On the geopolitical front, the core safe-haven narrative that previously supported gold prices is also fading. The US and Iran reached an understanding on the Strait of Hormuz, with the US granting a 60-day sanctions exemption, causing oil prices to fall. The gold buying driven by geopolitical risks has collectively exited.
These triple pressures created a resonance effect: rate hike expectations → stronger dollar → geopolitical cooling, all interlinked.
📉 Capital Stampede: From "Most Crowded Trade" to "Stampede-like Exodus"
Gold was one of the most crowded long trades globally in early 2026. When the narrative reversed, a stampede followed:
· Epic ETF Net Outflows: Global gold ETFs saw net redemptions for five consecutive weeks. In the first 20 days of June, just 20 domestic gold ETFs recorded net outflows exceeding 12.1 billion yuan. Global net outflows in May were about $2 billion, with average daily trading volume down 26%.
· Institutional Consensus Turns Bearish: Goldman Sachs slashed its year-end target from $5,400 to $4,900; JPMorgan cut its full-year average forecast from $5,708 to $5,243; Deutsche Bank lowered its Q3 target by over 20% to $4,300; Bank of America stated that the $6,000 target is "basically unattainable."
· Programmatic Stop-Losses Amplify Declines: Concentration of COMEX long position unwinding triggered programmatic stop-losses, forming a downward spiral. Industry insiders described: "Once $4,000 is breached, trend capital's first reaction is not to re-establish long-term logic, but to reduce positions and wait for confirmation."
🏦 Market Outlook: The Sole "Support" and Unknown "Variables"
Currently, the only support for the gold market comes from central bank purchases. 89% of central bank reserve managers predict that global gold reserves will continue to grow over the next 12 months, with 45% planning to actively increase holdings—a record high. Structural factors such as high US debt and the "de-dollarization" trend have not disappeared.
However, in the short term, the US May core PCE price index, to be released tonight (June 25), is the market focus. If the data exceeds expectations, it will strengthen rate hike expectations, potentially pushing gold down to $3,800 or even lower; if the data cools, it may provide a temporary breather.
Technically, gold is currently seeking support around $3,959. If it effectively breaks below this level, the next support is around $3,796; above, $4,057 is the first resistance, and $4,220 is the bull-bear demarcation line.
Gold's drop below $4,000 is essentially a 180-degree reversal of the macro narrative from "rate cuts" to "rate hikes," combined with the triple impact of a surging dollar, fading geopolitical risks, and capital stampede. This marks the end of a three-year bull market phase, but not necessarily the end of gold's long-term value—central bank structural buying remains, but in the short term, bears firmly hold pricing power.
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📢 GT Prize Pool Boosted! Red Rain Continues in the Square!
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#Ripple稳定币RLUSD获批登陆日本 On June 24, 2026, Ripple jointly announced with Japanese financial giant SBI Holdings that its USD stablecoin RLUSD has officially received approval from the Japanese Financial Services Agency (JFSA) and has launched in Japan. This is not merely a regional expansion, but a regulatory breakthrough with multiple far-reaching implications.
📜 Regulatory Breakthrough: Global Demonstration Effect of JFSA's "Type 4"
The core of this approval lies in RLUSD being classified as a "Type 4 Electronic Payment Instrument" under Japan's Payment Services Act. This is a brand-new regulat
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FatYa888
#Ripple稳定币RLUSD获批登陆日本 On June 24, 2026, Ripple and Japanese financial giant SBI Holdings jointly announced that its USD stablecoin RLUSD has officially received approval from the Japanese Financial Services Agency (JFSA) and has been launched in Japan. This is not merely a regional expansion but a regulatory breakthrough with multiple far-reaching implications.
📜 Regulatory Breakthrough: Global Demonstration Effect of JFSA's "Type 4"
The core of this approval lies in RLUSD being classified as a "Type 4 Electronic Payment Instrument" under Japan's Payment Services Act. This is a new regulatory category established by Japan for foreign stablecoins, and RLUSD is the first USD stablecoin to obtain this qualification.
Japan is known for its strict regulatory environment, and the JFSA's "stamp of approval" validates the high standards of RLUSD in terms of reserve security and issuer qualifications. At a time when global stablecoin regulation is still being explored, this provides a highly valuable compliance template for the industry.
🤝 Strategic Significance: The Fruit of a Decade-Long Partnership Between Ripple and SBI
This approval is a significant milestone since the two parties began their collaboration in 2016. By deeply partnering with the local giant SBI, Ripple has opened the door to Japan, one of the world's most mature financial markets, for RLUSD, proving that the expansion path of "finding the right partner and navigating regulation" is viable.
⚔ Market Impact: Reshaping Japan's Stablecoin Competitive Landscape
- Filling the USD Stablecoin Void: RLUSD provides Japanese users with a regulated USD-pegged instrument, meeting actual needs such as cross-border payments and foreign exchange hedging.
- Promoting a Dual-Track Structure: Alongside the JPY stablecoin JPYSC, which launched on the same day, and the joint stablecoin project being developed by the three major banks, it is driving the formation of a "JPY + USD" dual-track stablecoin structure in Japan.
- Market Cap Growth: Since its launch at the end of 2024, RLUSD's market cap has reached approximately $1.7 billion, and the Japanese market is expected to further boost this scale.
⚠ Challenges and Limitations: Realistic Constraints Beneath the Halo
Despite its significance, RLUSD faces notable limitations in its development in Japan:
- Single Transaction Cap: The cap for a single transaction of RLUSD is 1 million yen (approximately $6,200). This restricts its use cases to the retail sector and prevents its use in large-scale settlements.
- Local Competitive Disadvantage: In contrast, the JPY stablecoin JPYSC, which launched on the same day, has no transaction cap. The joint project of the three major domestic banks also targets the institutional market, and RLUSD faces a trust gap in institutional adoption.
- Single-Chain Issuance and Yen Depreciation: RLUSD is issued only on Ethereum, weakening its interoperability as a cross-chain infrastructure. Moreover, the transaction cap prevents it from being an effective tool for institutions to hedge against yen depreciation (approaching the 1:161 level).
Conclusion: A Compliance Breakthrough, But Demand Is Another Story
The approval of RLUSD to launch in Japan is essentially a breakthrough for a compliant stablecoin in a strictly regulated market. Its greatest significance lies in proving a viable compliance path.
However, "approval" and "demand" are two different things. Structural limitations such as the transaction cap mean that in the short term, it is more like a "compliant retail-level tool" in the Japanese market rather than a true "institutional-grade infrastructure." Whether RLUSD can establish a foothold in Japan depends on subsequent scenario expansion and actual user adoption.
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#BTC下探60000美元关键关口 On June 25, 2026, the price of Bitcoin (BTC) fell below the key psychological level of $60,000, hitting a low of $59,023 and setting a new low since October 2024. This marks the third time in 2026 that Bitcoin has failed to hold the $60,000 integer level. At the same time, the total market capitalization of the crypto market slid back to around $2 trillion.
This dip is the combined effect of a three-way resonance of macro conditions, liquidity, and market confidence collapsing at once:
🔍 “Valuation Killing” Macro: Rate-Hike Expectations Reverse, Pressure Builds on Non-Yield
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FatYa888
#BTC下探60000美元关键关口 On June 25, 2026, Bitcoin (BTC) prices fell below the psychologically crucial $60k mark, hitting a low of $59,023, the lowest since October 2024. This marks the third time Bitcoin has lost the $60k integer level in 2026. The total market cap of the crypto market has simultaneously dropped to around $2 trillion.
This downturn is the result of a triple collapse in macroeconomic conditions, capital flows, and market confidence:
🔍 Macro "Valuation Kill": Rate Hike Expectations Reverse, Non-Yielding Assets Under Pressure
This is the core driving force. The Fed's June dot plot took a sharp turn, with nearly half of FOMC members predicting rate hikes in 2026, completely diverging from the market's previously anticipated rate cuts. Chairman Warsh reiterated "no rush to cut rates," and the market quickly priced in a 89% probability of two 25-basis-point rate hikes in September and December. The US dollar index rose above 101.8 to a 12-month high, while the 10-year Treasury yield remained above 4.50%. As a non-yielding asset, the opportunity cost of holding Bitcoin has surged dramatically, and instead of displaying the safe-haven properties of "digital gold," it has correlated closely with risk assets like the Nasdaq in this decline.
💸 Capital "Great Withdrawal": ETFs See Record Outflows, Institutions Vote with Their Feet
Systematic bleeding in capital flow. US spot Bitcoin ETFs experienced their longest-ever net outflow period, with net outflows for 6-7 consecutive weeks. Net redemptions within 30 days reached a record $6.35 billion. Total assets under management have dropped from about $113 billion at the start of the year to approximately $77.5 billion. The Coinbase premium index has remained negative, indicating extremely weak buying interest from US investors.
🏦 Confidence "Shattered": Biggest Buyer Questioned, Retail Investors Flee
The biggest narrative shift comes from Strategy (formerly MicroStrategy). As the largest corporate buyer (holding around 847k BTC), it recently purchased only 520 BTC, its smallest weekly purchase in 18 months. Its stock price fell to its lowest point since February 2024. The market is beginning to question whether its "issue bonds to buy Bitcoin" flywheel model is sustainable. Meanwhile, a large number of retail investors who bought in at high prices are in loss positions, with extremely low willingness to add positions, turning their attention to AI concept stocks.
⚙ Leverage "Cascading Liquidations": Clearing Wave Accelerates Downward Spiral
High leverage in the derivatives market acted as an "amplifier" for the decline. After approximately $850 million in long crypto positions were forcibly liquidated, nearly 180k people in the crypto space were liquidated in the last 24 hours, amounting to $984 million. Once prices broke through $60k, sustained long liquidation occurred near $59k, with passive sell orders accelerating the decline. Additionally, the quarterly expiration of approximately $10 billion in Bitcoin options on Friday amplified market volatility.
📉 Technicals: Bears Dominate, Key Support Broken
Technically, the daily moving average system is all arranged in a bearish pattern. The $60k level has shifted from strong support to strong resistance. Key levels: The $61,400-$61,800 area is short-term strong resistance above. Below, if $60k is confirmed lost, $57,000 is the next on-chain dense liquidation zone, and in extreme cases, it could even test the $50,000-$55,000 range.
⏳ Short-Term Focus: PCE Data Could Be the "Deciding Factor"
Market attention is highly concentrated on tonight (June 25) when the US core PCE price index for May is released. If the data exceeds expectations, it will strengthen rate hike expectations, potentially pushing BTC down to $57,000-$55,000. If the data cools, it could offer an oversold rebound opportunity.
This decline is a concentrated release of four negative factors: macro liquidity tightening, institutional capital exit, core narrative weakening, and high-leverage liquidation. The $60,000 level, a key support over the past two years, is now precarious. The market is in a "no-buyer market," and tonight's PCE data will determine whether it is the final straw that breaks the camel's back or a lifeline for the bulls.
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#美国VS土耳其 This match is a "psychological duel" in the final round of Group D of the 2026 World Cup group stage — the host nation, the United States, has already secured the top spot in the group, while Turkey has lost both matches without scoring a single goal and has been eliminated. The result of this game has no impact on qualification, making it purely a battle for honor and a chance to rotate the squad.
🏟️ Basic Info
· Match: Turkey vs USA
· Time: June 26 (Thursday) at 9:00 AM Beijing Time
· Venue: SoFi Stadium in Los Angeles, USA (referred to as "Los Angeles Stadium" during the World Cup
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FatYa888
#美国VS土耳其 This match is a “mindset showdown” in the final round of Group D at the 2026 World Cup. The host, Team USA, has already secured first place in the group, while Turkey—having lost both matches and failing to score a single goal—is already confirmed to be eliminated. The outcome of this match has no impact on qualification prospects. It is purely a contest of honor and a rotation rehearsal.
🏟️ Basic Information
· Matchup: Turkey vs USA
· Time: 9:00 on June 26 (Thursday), Beijing Time
· Venue: SoFi Stadium in Los Angeles, USA (called the “Los Angeles Stadium” during the World Cup)
📊 Both Teams’ Situation and Mindset
· Team USA (already qualified, group first): Two wins for 6 points. The goal is to build momentum for the knockout stage. They will very likely rotate the starting lineup, focusing on assessing the substitutes and ensuring core players don’t pick up yellow cards that would lead to suspension. Head coach Pochettino confirmed that Pulisic may come on as a substitute in the second half.
· Team Turkey (eliminated, 0 points): After losing to Australia 0-2 and to Paraguay 0-1 in their first two matches. Their only objective is to defend their honor and end their goal drought. Coach Montella is expected to field the full starting XI to bid a dignified farewell.
⚔️ Tactical Duel
· Turkey (possession and siege, breaking down a tight defense): They have star players such as Çalhanoğlu and Güler, and are strong in midfield build-up play and high-possession control. In their first two matches, despite having 32 shots against teams that tightened up defensively, they failed to find the net. The key to breaking the deadlock is improving shot conversion.
· USA (solid defending and counterattacks, wing speed): Under Pochettino, their defense is steady (conceding only 1 goal). They rely on the fast wide runs in counterattacks led by Dest and Robinson. After rotation, team cohesion may decrease, but the home crowd atmosphere will provide motivation.
⭐ Key Things to Watch
· Turkey’s goal drought: They have been unable to score for 66 consecutive shots. Facing a USA defense that may be rotated, this is their best chance to end the drought.
· USA’s depth with rotation: In the first two matches, their 6 goals were scored by different players. This tests whether the substitutes can seize the opportunity.
· Historical record: This will be the first-ever World Cup meeting between the two teams. USA have never won three consecutive group-stage matches in a single World Cup, and Turkey have never suffered three consecutive defeats in a single World Cup.
🔮 Match Outcome Preview
On paper, USA have a slight advantage, with the official betting odds for a USA win in Jc.com at 1.9. But considering USA’s rotation and Turkey’s sense of honor, the match still has some uncertainty.
It’s more like a half-time run-through of “Turkey attacks, USA defends.” The prediction is a narrow USA win or a draw, but Turkey have a great chance to score their first goal of this World Cup.
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#以太坊基金会重组降本 On June 23, 2026, the Ethereum Foundation (EF) announced its largest restructuring in history. This was not a simple "cost reduction," but a profound transformation involving strategic positioning, organizational structure, and financial models.
📉 Hard Data on "Cost Reduction"
From financial and human resources perspectives, the "cost reduction" is very straightforward:
· Budget cut by 40%: Annual expenses decreased from about 15% of funds to approximately 5% after 2030.
· 20% layoffs: 54 positions eliminated, accompanied by the departure of 9 executives, including Co-Executive Di
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FatYa888
#以太坊基金会重组降本 On June 23, 2026, the Ethereum Foundation (EF) announced its largest restructuring in history. This is not a simple cost reduction, but a profound transformation involving strategic positioning, organizational structure, and financial models.
📉 The hard data of "cost reduction"
From financial and personnel perspectives, the "cost reduction" is very straightforward:
· Budget cut by 40%: Annual expenses decrease from about 15% of funds to approximately 5% after 2030.
· 20% layoffs: 54 positions eliminated, accompanied by the departure of 9 executives, including Co-Executive Director Wang Xiaowei.
· Project contraction: Closure of the "Privacy and Expansion Exploration" department, downsizing of the Devcon conference, and reduced funding for external projects.
🎯 More than just saving money: a strategic turnaround
The core of this restructuring is a fundamental shift in EF's role: from "main ecosystem builder" to "lightweight protocol governance and maintenance."
· Say goodbye to "all-in-one": EF no longer attempts to handle everything from research and development to promotion, instead delegating execution functions to other organizations within the ecosystem. Its new mission focuses on the CROPS principles (Crypto Punks, Resilience, Open Source, Permissionless, Security).
· Focus on core protocols: efforts are concentrated on "what only EF can do, what must be done," with the core goal of ensuring the security and decentralization of the Ethereum protocol.
🏗️ New architecture: five major clusters unveiled
To achieve focus, EF reorganized into five core business clusters:
· Protocol Layer: 57 people. Responsible for core protocol development, advancing long-term research such as post-quantum security and zkEVM.
· Access Layer: 34 people. Ensures users can freely read on-chain data and conduct transactions without relying on intermediaries.
· User Layer: 5 people. Feedback real user needs to the protocol and access layer.
· Community Layer: 25 people. Responsible for EF’s internal and external image and community communication.
· Institutional Layer: 12 people. Handles engagement with financial institutions, enterprises, and governments.
🚀 One retreat, one advance: the birth of Ethlabs
Almost simultaneously with EF’s "retreat," an independent non-profit research organization called Ethlabs was established.
· Impressive background: Founded by five former EF senior researchers, supported by heavyweight backers like BitMine and Joe Lubin.
· Clear division of labor: Ethlabs focuses on more "grounded" industrial applications, such as large-scale on-chain integration for institutions, cross-chain transactions, and mainnet expansion, filling the ecological niche left by EF’s retreat.
· Deliberate distance: Vitalik Buterin is not listed among Ethlabs’ supporters, which is interpreted as him intentionally avoiding personal endorsement that could interfere with the new organization’s path.
💎 Summary: a "stress test" of long-termism
This restructuring can be seen as Ethereum’s proactive "stress test" after experiencing a market winter and intensified competition.
Vitalik proposed a new development philosophy called "Soft Lean and Done," emphasizing security fixes rather than constantly adding new features. This marks Ethereum’s transition from an ever-expanding "startup" to a more conservative, mature "protocol maintainer."
In the short term, large-scale layoffs and executive departures are significant shocks; in the long term, EF aims to explore a new path for decentralized governance through "strategic contraction" and nurturing new forces like Ethlabs.
Of course, this transformation also carries risks. The loss of core talent, the costs of integrating the new architecture, and adjustments to the "multi-client" strategy could cause short-term pains. Ethereum is at a critical crossroads, and the success or failure of this restructuring will profoundly influence its trajectory over the next decade.
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#MGX募资500亿加码AI基建 Abu Dhabi AI Investment Company MGX announced recently that it has completed nearly $50 billion (approximately 360 billion RMB) in fundraising, with all this capital to be invested in artificial intelligence infrastructure and technology sectors.
This is not only a financial shock but also marks a historic shift in the role of Middle Eastern capital.
👑 From “Money Owner” to “Steward”: The Transformation of Abu Dhabi’s Model
MGX is chaired by Sheikh Tahnoon, the UAE National Security Advisor, and is supported by sovereign fund Mubadala and AI group G42.
The breakthrou
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FatYa888
#MGX募资500亿加码AI基建 Abu Dhabi AI Investment Company MGX announced recently that it has completed nearly $50 billion (approximately 360 billion RMB) in fundraising, with all funds to be invested in artificial intelligence infrastructure and technology sectors.
This is not only a numerical shock but also marks a historic shift in the role of Middle Eastern capital.
👑 From “Money Owner” to “Steward”: The Transformation of Abu Dhabi’s Model
MGX is chaired by Sheikh Tahnoon, the UAE National Security Advisor, and is supported by sovereign fund Mubadala and AI group G42.
The breakthrough in this financing lies in: Abu Dhabi’s first-ever use of its global network to raise such a large amount of external capital. The funds come from regional sovereign wealth funds, global pension funds, and large institutional investors.
This signifies a shift from being a “capital exporter” that solely outputs its own oil wealth to a “capital manager” that leverages global capital. Essentially, MGX is a “global private equity giant backed by the Abu Dhabi brand,” aiming to expand its managed assets to over $100 billion and planning to deploy up to $10 billion annually in the future.
⚔️ Full Industry Chain “Acquisition”: From Models to Computing Power
MGX has built a massive investment portfolio covering the entire AI industry chain:
· Model Layer: Invested in the world’s top three AI laboratories—OpenAI, xAI, and Anthropic.
· Infrastructure Layer: Collaborated with BlackRock and Microsoft to deploy global data centers.
· Computing Power Layer: Partnered with NVIDIA to create an AI infrastructure fund and plans to build Europe’s largest AI park near Paris (target capacity of 1.4 gigawatts).
🌍 Redefining the Global AI Capital Map
MGX’s emergence will have far-reaching impacts:
· Intensify global AI capital competition: The $50 billion “ammunition” will directly escalate countries’ competition for strategic assets.
· Reshape industry entry barriers: Such capital advantage may make it difficult for many sovereign funds and private equity firms to acquire high-quality AI assets.
· Potentially become a template for Gulf countries’ transformation: MGX’s model of leveraging external capital to amplify influence could serve as a benchmark for other Gulf nations.
In summary, MGX’s $50 billion fundraising is a key step for Abu Dhabi in transforming its oil capital into global AI influence. It is no longer just a “money lord,” but has personally created a super-investment tool capable of rivaling SoftBank’s Vision Fund. In this AI arms race, a giant with both financial strength and ambition has already entered the stage.
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#欧洲议会为数字欧元开绿灯 On June 23, 2026, the European Parliament's Committee on Economic and Monetary Affairs officially approved the digital euro plan. This vote, with 43 in favor, 14 against, and 1 abstention, was called "a historic day for Europe" by committee chair Orol Raluk.
🎯 Core motivation: De-Americanization of the payment system
The most direct mission of the digital euro is to break the American monopoly over Europe's payment infrastructure. Data shows that Visa and Mastercard together account for 61% of card payment transactions in the eurozone, nearly monopolizing all cross-border c
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SeaOfCloudsWithoutMountains
#欧洲议会为数字欧元开绿灯 On June 23, 2026, the European Parliament's Committee on Economic and Monetary Affairs officially approved the digital euro plan. This vote of 43 in favor, 14 against, and 1 abstention was called "a historic day for Europe" by committee chair Oroel Raluk.
🎯 Core motivation: De-Americanization of the payment system
The primary mission of the digital euro is to break the US monopoly over Europe's payment infrastructure. Data shows that Visa and Mastercard together account for 61% of card payment transactions in the Eurozone, nearly monopolizing all cross-border card payment activities. Against the backdrop of geopolitical tensions, this dependence has become a "strategic vulnerability" for the EU. The digital euro is precisely the key weapon the EU is deploying to enhance financial sovereignty.
🛡️ Core design: Balancing privacy and stability
The draft includes several key mechanisms:
· Privacy protection: Uses zero-knowledge proof technology to verify transactions without revealing personal data, preventing the European Central Bank from directly identifying users.
· Holding limit: Prevents large-scale outflows of funds from commercial banks that could impact financial stability. The limit is set and regularly reviewed by the EU Commission based on recommendations from the European Central Bank.
· Basic services free of charge: Basic services such as account opening and fund management are provided free to users.
· Offline payments: Supports direct device-to-device transactions without an internet connection. Offline mode is similar to cash—if the device is lost, funds are lost as well.
📅 Future process: Full rollout by 2029
Next, the digital euro still needs to go through the confirmation of the plenary session in July, formal negotiations with the 27 member states, and other steps. Legislators hope to reach a final agreement by the end of the year. The European Central Bank plans to launch a 12-month pilot in the second half of 2027, with full issuance in 2029.
In the global race for central bank digital currencies, China has already launched the digital yuan, Russia's digital ruble will be operational by September 2026; meanwhile, the US has abandoned the digital dollar and shifted focus to supporting stablecoins. Whether the digital euro can be launched on schedule will not only affect the payment methods of 350 million Europeans but also profoundly influence the future structure of the global monetary system.
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#0成本拿2股SK海力士 Gate.io recently launched the “Get 2 shares of SK Hynix at zero cost” event. This is more like a high-threshold marketing and customer-acquisition activity, far from truly “free.”
🎁 “Triple Rewards” event rules
· Sign-up and sharing: The first 2,000 registrants share fractional shares worth 3,400 USDT.
· Exclusive for first order: Make your first trade of 500 USDT, and share a 17,000 USDT prize pool.
· Trading airdrop (core): For every accumulated 10,000 USDT in trading volume, randomly receive an airdrop of 0.01 to 0.5 shares, with a maximum of 2 shares.
The SK Hynix share pric
SKHYNIX-3.92%
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SeaOfCloudsWithoutMountains
#0成本拿2股SK海力士 Gate.io recently launched the "Get 2 Shares of SK Hynix at Zero Cost" event, which is more like a high-threshold marketing customer acquisition activity, far from being truly "free."
🎁 "Triple Rewards" event rules
· Sign-up share: The first 2,000 registrants share a prize pool of 3,400 USDT worth of fractional shares.
· First trade exclusive: Make your first trade of 500 USDT to share a prize pool of 17,000 USDT.
· Trading Airdrop (core): For every 10,000 USDT in trading volume accumulated, randomly receive an airdrop of 0.01 to 0.5 shares, up to 2 shares.
Currently, SK Hynix stock price is about $1,766 per share, and 2 shares are worth over $3,500. But to fully claim, you need to generate at least $40k in trading volume.
⚠️ The truth about "Zero Cost"
· Essentially, it’s a Contract for Difference (CFD): what you get is not the original stock from the Korean exchange, but a derivative linked to the stock price.
· Hidden costs: you need to bear market volatility risk and time costs during trading.
This is fundamentally using real trading volume to exchange for rewards. When facing such marketing, it’s more important to understand the rules, calculate the costs clearly, and assess the risks than to be attracted by the word "free."
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#苏格兰VS巴西 On June 25th, 6:00 AM Beijing time, the final round of Group C in the 2026 World Cup will feature a crucial match: five-star Brazil against Scotland. Brazil has 4 points and is temporarily at the top of the standings, while Scotland has 3 points and ranks third. This game will directly determine the qualification outcome.
Historically, Brazil has been Scotland’s “nemesis.” The two teams have faced each other 10 times, with Brazil winning 8 and drawing 2, remaining undefeated. Scotland has never defeated the Samba team. In their 4 World Cup encounters, Scotland has 1 draw and 3 losses
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SeaOfCloudsWithoutMountains
#苏格兰VS巴西 Beijing time June 25th at 6:00 AM, the final round of Group C in the 2026 World Cup features a crucial match: Five-star Brazil versus Scotland. Brazil has 4 points and is temporarily at the top of the standings, while Scotland has 3 points and ranks third. This game will directly determine the qualification outcome.
From historical matchups, Brazil is Scotland’s undeniable “nemesis.” The two teams have faced each other 10 times, with Brazil winning 8 and drawing 2, remaining undefeated. Scotland has never defeated the Samba team. In World Cup encounters, they have met 4 times, with Scotland drawing once and losing 3 times; their last point was in 1974 with a 0-0 draw. More worryingly, in World Cup history, Scotland has faced South American teams 8 times, with 2 draws and 6 losses, never winning.
Tactically, this will be a direct clash of two football philosophies. Under Ancelotti, Brazil emphasizes high ball possession and offensive pressure, averaging 14.1 shots per game, far surpassing Scotland’s 11.7. Scotland, on the other hand, relies on a five-back system, emphasizing physical confrontation and disciplined defense. Scotland scored only 1 goal in the first two rounds, lacking attacking methods in open play, with set-piece aerial assaults almost their only way to score.
The matchup between Vinicius and Robertson on the flanks will be the biggest highlight, as Brazil’s top star’s explosive ability will directly test Scotland’s captain. Brazil’s main right winger, Raphinha, is injured and will miss the game, but Neymar has been confirmed in the squad and may appear as a substitute secret weapon. Additionally, the humid Miami weather, with temperatures expected to reach 31°C, will be a severe test for Scotland’s stamina.
A narrow win for Brazil is the most likely outcome, but if Scotland can hold their defense and score through set-pieces to turn the game around, rewriting their 153-year team history is not impossible.
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## 1. A-shares: Divergence and Consolidation After Record High Volume
Yesterday (June 22), A-shares just set the second-largest single-day trading value in history—3.76 trillion yuan. All three major indices surged together: the Shanghai Composite closed at 4,163.10 (+1.78%), and the ChiNext Index rose another 2.52% to hit a new all-time high. However, today (June 23), in the early session, all three major indices weakened collectively. By the midday close, the Shanghai Composite was down 0.37%, the Shenzhen Component was down 1.83%, and the ChiNext Index plunged 2.27%. Half-day trading value
SPYX0.28%
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SeaOfCloudsWithoutMountains:
Buy the dip 😎
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#预测世界杯英格兰VS加纳
June 24, 2026, at 4:00 AM, Group L of the World Cup will feature a top-of-the-table showdown. England and Ghana, both winners in the first round, will face off, with the winner likely securing a spot in the knockout stage.
🏴 England: Riding high, aiming for consecutive wins
· Dominant strength: Ranked 4th in the world, with a team value exceeding 1.5 billion euros, making them a top contender for the championship.
· Multiple attacking threats: Defeated Croatia 4-2 in the first round, with Kane scoring twice, and Bellingham and Rashford also finding the net.
· Defensive vulnerab
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SeaOfCloudsWithoutMountains:
Just charge forward 👊
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