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.

Golden Ten Data reported on July 2 that Bank of England Monetary Policy Committee member Mann stated that if inflation expectations and other price warnings do not improve later this year, she is prepared to take "proactive" rate hike measures. She said she currently supports keeping the interest rate unchanged at 3.75%, but warned that inflation could become embedded in prices. She will closely monitor data in the second half of this year to guard against rising prices affecting wage agreements and inflation expectations. She said: "The trend in energy prices, changes in profit margins, and the basis for wage negotiations in 2027 will be crucial in determining whether current cost pressures become further embedded in prices." "I believe that if outcomes are unfavorable to the underlying inflation process, proactive rate hikes can steer both inflation expectations and actual results toward the 2% target."