#资产代币化 I just saw the risk warning from the seven major financial associations and felt a tightness in my heart 😅 Once again, stablecoins, RWA, air coins... It seems that every time a concept becomes popular, policies come out to pour cold water on it.

But I’ve noticed an interesting pattern — after reviewing from 2013 to now, I realize that each time policies are implemented, the market doesn’t really "die." After the 2013 ban, Bitcoin dropped to $400, but then rebounded; in 2017, exchanges were shut down, and the market moved abroad, yet it still entered a bull market; in 2021, mining was phased out, but Bitcoin still hit new all-time highs.

What’s the biggest difference now? Chinese funds are no longer the main market drivers; Wall Street’s ETFs and institutions have become the new main force. This seems to mean that although domestic policies are strict, global forces are strong enough to push the entire market forward 🤔

I just noticed USDT is showing negative premium, and it feels like many people are rushing to exit, which is a bit nerve-wracking. I want to ask everyone, how should we respond in such times? Should we continue holding or reduce risk? It seems that new concepts like "asset tokenization" should now be approached with extra caution...