News

BlockBeats News, July 2nd, Dragonfly partner Haseeb stated that the current filtration process the cryptocurrency industry is going through is a healthy phenomenon. The departure of many OGs is not a sign of industry death, but rather a normal cleansing similar to the aftermath of the early tech industry bubble burst. What remains are people who truly believe in the long-term value, enduring short-term pain for long-term gain. Every bear market pessimist has always been overly pessimistic, and people should stay in the crypto space because the industry's long-term value far exceeds short-term fluctuations. Haseeb also expressed strong bullish views on ETH and SOL, believing that both have a tremendous future. The essence of crypto is a continuation of technology and the internet, and in the future, it will change the world just like the internet did.

BlockBeats News, July 2nd, the a16z-backed stablecoin protocol Reflect announced a voluntary recovery plan for USDC+ holders affected by the Drift (now Velocity) April hack: starting today, a 180-day window is open for holders to voluntarily sell their positions to Palindrome Engineering at a price of 0.20 USDC + 80 Reflect Credit (RC) per unit, with full on-chain settlement. This plan, funded upfront by Palindrome, is completely separate from the Drift recovery process. Participation entails waiving any claims against Drift in exchange for immediate settlement liquidity; non-participants can still support Drift's DFX recovery channel.

Glonghui, July 2｜Wolfe Research has upgraded Chevron's rating from "Peer Perform" to "Outperform" with a target price of $210, pointing out that the recent pullback in the oil giant's share price has created an attractive entry opportunity for investors. The market has not yet fully reflected its improved long-term free cash flow outlook.