The dramatically different regulatory agendas of VC Bowman and VC Barr reveal why it will be very hard for the Fed to retain its role in sup and reg and also remain independent.

Miki Bowman says the Fed’s bank examiner corps has been trained to focus too much on paperwork and not enough on real risks. Now she’s slashing what some see as an unnecessarily bloated staff, rethinking the rules, and reopening the investigation into the collapse of Silicon

Nick Timiraos

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创投家鲍曼和创投家巴尔截然不同的监管议程揭示了为什么联准会很难在维持其在监管和监督方面的作用的同时保持独立性。

比特币上周价格一度触及 6 万美元。在收益递减模型下，这绝不是简单的噪音。市场正在触碰整个四年周期与对数增长框架中最脆弱的环节。
当比特币周期顶部的涨幅已被大幅压缩，如果再出现历史级别的深度回调，其经典周期的吸引力将彻底失效。
这不是预测，这是数学规律。
周期顶部涨幅正在压缩
比特币各周期历史顶部：
· 2013 年：~1,242 美元
· 2017 年：~19,700 美元
· 2021 年：~...

5.5万美元，将是比特币的生死线

加密市场今日下午出现急跌走势，以太坊于台湾时间下午三点跌破 2,000 美元关口，在 Hyperliquid […]
〈麻吉大哥亏惨一夜没睡？以太坊跌破2000镁慌了， 开仓做多ETH、HYPE 割肉12万镁全输光〉这篇文章最早发布于动区BlockTempo《动区动趋-最具影响力的区块链新闻媒体》。

麻吉大哥亏惨一夜没睡？以太坊跌破2000镁慌了， 开仓做多ETH、HYPE 割肉12万镁全输光

随著 FinChain 合作加速推进，将传统资产大规模上链，亚洲机构对代币化金融的需求正在加速成长。

摘要：FinChain 深化策略合作…

FinChain Avalanche 的合作旨在推动亚洲 RWA 代币化和机构流动性。

If we accept the premise that the polarization of finreg along party lines has created serious political risk for the  institution, the bigger question is this: Are we heading towards a similar polarization along party lines for monetary policy?
After all, Congress essentially chose the former outcome when it created a VC-S position and then demanded that this person retain full autonomy for the regulatory agenda (first, with Warren's pointed questioning of Powell to ensure he would not interfere with Barr's agenda, and later, when congressional GOP signaled they would cheer any effort by then-President-elect Trump to fire/demote Barr). But I'm not sure Congress really wants a partisan monetary policy.

如果我们接受金融监理领域党派分化已为该机构带来严重政治风险这一前提，那么更重要的问题是：货币政策领域是否也正走向类似的党派分化？

毕竟，国会设立创投及特别顾问（VC-S）职位，并要求此人保留监管议程的完全自主权，实际上已经选择了前一种结果（首先是沃伦尖锐质询鲍威尔，以确保他不会干预巴尔的议程；后来是国会共和党人表示，他们将支持候任总统川普解雇或降职巴尔的任何举措）。但我并不确定国会是否真的希望货币政策带有党派色彩。

The polarization on finreg has been 15+ years in the making, beginning with the passage and implementation of Dodd-Frank.

金融监管领域的两极化已经持续了 15 年以上，始于《多德-弗兰克法案》的通过和实施。