News

According to ChainCatcher, citing data from Coinglass, if ETH falls below $4,149, the cumulative long liquidation volume on major CEXs will reach $2.099 billions. Conversely, if ETH breaks above $4,581, the cumulative short liquidation volume on major CEXs will reach $1.157 billions.

According to a report by Jinse Finance, crypto journalist Eleanor Terrett stated that today, the U.S. Senate Democrats released a comprehensive framework for the "Crypto Market Structure Act," sparking optimism among industry participants and some Republican leaders. There is potential for bipartisan cooperation in the Senate regarding crypto market structure reform. A coalition of 12 Democrats unveiled a detailed framework, indicating that the Democratic Party is ready to join the previously Republican-led efforts to establish clear rules for the crypto market. Cynthia Lummis, a key Republican advocate and senator, praised this bipartisan initiative. The Democratic framework is based on seven key pillars, aiming to clarify token jurisdiction, strengthen oversight of trading platforms and issuers, combat illicit financial activities and conflicts of interest, and provide regulators with more enforcement resources. These priorities largely overlap with those emphasized by Republicans. The key to a bipartisan agreement lies in the details, especially regarding differences in regulatory strictness. Republicans have traditionally favored looser regulation, while Democrats tend to support stricter rules. Previous reports indicated that the Senate Banking Committee is expected to mark up and revise the market structure discussion draft by the end of September, while the Senate Agriculture Committee will soon release a draft covering the CFTC regulatory section. The market structure bill is expected to be signed into law by President Trump before Christmas this year.