A family member asked: How do you view the stablecoin bill? 1. From the perspective of U.S. policymakers, promoting a U.S. dollar stablecoin has numerous benefits and no drawbacks. First, the U.S. dollar stablecoin is issued based on U.S. Treasury bonds as collateral, so the incremental issuance of dollar stablecoins means that issuers need to purchase new U.S. Treasury bonds, which is beneficial for increasing demand for Treasury bonds in the long run. Second, stablecoins are mainly used in underdeveloped countries, where sovereign currencies are relatively unstable, effectively expanding the usage boundaries of the U.S. dollar and encroaching on the market of other weaker currencies. 2. The risks in the stablecoin sector may mainly be limited to whether issuers will have the willingness to issue new stablecoins if the Federal Reserve lowers interest rates to 0%. (However, the interest rates on U.S. Treasury bonds are unlikely to drop to 0%, so there will still be profit to be made; moreover, the existing U.S. Treasury bonds held will see a significant price increase, so there is not much risk of a crash.) 3. For our coins (BTC = their coins, altcoins = our coins), even if the existing USDT and USDC continue to be issued, our coins have not actually seen a price surge; in reality, the issuance of stablecoins and cryptocurrencies are currently somewhat decoupled. Especially with companies like JD, Xiaomi, and Walmart potentially issuing stablecoins in the future, there may not even be trading pairs between BTC and certain stablecoins, making the relationship with our coins even more distant. However, after the stablecoin bill is confirmed, it is uncertain whether altcoin whales will take advantage of the news to create a local market rally (or it is possible). 4. The upcoming positive factors for our coins, the macro drivers I can think of include interest rate cuts (after September this year) and altcoin ETFs (after July). Last year, the Ethereum ETF was approved in July, but its performance afterward was not very optimistic, and expectations for ETFs related to SOL and other varieties should be further lowered. Optimistically, if tariffs are completely resolved before the extension in July, and altcoin ETF whales take the opportunity to speculate, then there could be a market rally after July. If conservatively estimated, it may be after the interest rate cut in September before a rise occurs. Traditionally, July and August are not very good months. It was originally expected that there would be a rally in June (theoretically, it should at least break the new high of 112,000), but currently, it seems that opportunities are shrinking. Unless an unusual market occurs in July, we will have to wait for a market rally in September. This article is sponsored by #BCGAME | @bcgame @bcgamecoin