ChainCatcher news, according to SoSovalue statistics, as of now, twenty state-level administrative regions in the United States are initiating relevant legislative procedures. Among them, fifteen states have had their bills formally received by the House and have entered the committee review stage, forming operational legal drafts. The Bitcoin Strategic Reserve Bill is creating a regional legislative wave in the U.S.Taking Utah as an example, Bill HB0230 will allow the state's four public funds (namely, the State Disaster Recovery Restricted Account, the General Fund Budget Reserve Account, the Income Tax Fund Budget Reserve Account, and the Medicaid Growth Reduction and Budget Stabilization Account) to invest up to 5% of their total assets in Bitcoin. According to the 2024 Utah financial report data, this means a potential purchasing power of over $70 million.SoSovalue analysts state that the Strategic Bitcoin Reserve Bill is not only a new breakthrough for Bitcoin in the traditional financial system but also a historic advancement. As more state governments explore similar strategies, the trend of public funds holding Bitcoin may reshape the global market's definition of Bitcoin as an asset, defining Bitcoin not just as digital gold, but as part of national and institutional asset allocation, further solidifying its position in the global financial system.

ChainCatcher news, according to RIA Novosti, in 2024, the Russian power company "Rosseti" suffered losses exceeding 1.3 billion rubles due to illegal connections to the grid by "black miners" and unmetered electricity consumption. Among them, "Rosseti North Caucasus" suffered the largest loss, exceeding 600 million rubles; "Rosseti Novosibirsk" lost 400 million rubles; and "Rosseti Central and Volga" lost 120 million rubles.The company reported that 130 cases of illegal connections have been investigated, and the cases have been handed over to law enforcement agencies, with over 40 criminal cases initiated involving charges that could lead to actual prison sentences. Illegal mining has also caused overloads in the power grid, leading to low voltage that could damage equipment and appliances. For example, in the village of Chapayevskoye in the North Caucasus, power companies and law enforcement discovered nearly 200 mining machines consuming over 12,000 kilowatt-hours of electricity.In addition, illegal mining sites are not only found in industrial areas but also involve various locations from containers on rented land to underground parking lots in residential complexes. The largest case occurred in Novosibirsk, where more than 3,200 mining machines were seized, resulting in losses from electricity theft amounting to 197 million rubles, and the suspects have been detained.

ChainCatcher news, according to TASS, Aisen Nikolaev, chairman of the Russian State Duma Energy Committee, has proposed plans to establish dedicated power plants for cryptocurrency mining activities. These power plants will specifically serve the cryptocurrency mining community and will not connect to the public power grid.Nikolaev stated that the State Duma Energy Committee is in communication with the Ministry of Energy regarding cryptocurrency mining issues. He believes that innovative solutions will emerge in the near future, allowing Moscow to develop its cryptocurrency mining business while protecting the interests of the public. It is reported that the electricity used for mining in some regions of Russia has already reached an "out of control" state, leading to capacity shortages and affecting the power supply quality for residents and businesses.

ChainCatcher News: The website of the Central Commission for Discipline Inspection and the National Supervisory Commission of China recently published an article pointing out that the integrity risks in the construction of financial information systems are becoming increasingly prominent, especially the issues of "difficult management, difficult supervision, and difficult accountability" caused by high professional and technical barriers.During the investigation of the corruption case of Yao Qian, the former director of the Science and Technology Supervision Department of the China Securities Regulatory Commission (CSRC), the discipline inspection and supervision team stationed at the CSRC discovered that he used virtual currency for power-for-money transactions, which were highly concealed and difficult to gather evidence. Yao Qian accepted huge bribes through his position, providing assistance to others in the procurement of information systems, involving project contracting, fund allocation, and other aspects.In response to the issues exposed by the case, the discipline inspection and supervision team proposed supervision opinions to the CSRC Party Committee, urging the strengthening of integrity risk prevention and control in information system procurement, and reinforcing system construction and implementation. At the same time, it emphasized the need to strengthen the education, management, and supervision of professional and technical personnel, especially the "top leaders," to correct the erroneous thinking of some cadres who believe their integrity risks are low, and to enhance their political awareness and discipline consciousness.In November last year, Yao Qian was subjected to disciplinary review and supervisory investigation by the discipline inspection and supervision team stationed at the CSRC and the Shantou Municipal Supervisory Commission in Guangdong Province for serious violations of discipline and law. This case further highlights the importance of integrity risk prevention and control in the field of financial technology supervision.

ChainCatcher news, QCP Capital stated on its official channel that the CPI increase exceeded expectations, and the core CPI also rose, leading to market expectations that the Federal Reserve's first rate cut will be delayed until December, triggering a sell-off. Bitcoin dropped from $96,500 to $94,000, with $163 million in long positions being liquidated, but then rebounded to $98,000, a gain of 4.4%.In the options market, recently expiring call options are actively traded, especially those with strike prices between $97,000 and $100,000. The market is paying attention to Trump's reaction to the CPI and its impact on Federal Reserve policy. Powell is expected to remain cautious and adhere to data-driven rate cut decisions. Overall, the buy-the-dip strategy has performed well amid market volatility, and investors need to closely monitor the Federal Reserve's policy direction and changes in market sentiment.

ChainCatcher news, according to The Washington Post, U.S. President Trump took unprecedented actions in the first three weeks of his second term to weaken the power of federal agencies, suspend or cancel billions of dollars in authorized spending, and lay off tens of thousands of federal employees, triggering over 50 legal lawsuits.The "Department of Government Efficiency" (DOGE) led by Musk has intervened in the operations of 18 federal agencies, attempting to terminate 199 government contracts and pushing for a $1 trillion cut in the federal budget. A White House spokesperson stated that the courts' obstruction of Trump's executive orders is an "abuse" of the law. However, legal experts warn that if the government openly ignores court rulings, the U.S. may face a constitutional crisis.Trump's supporters believe these measures are correcting the overreach of federal agency power, while Democrats and some legal professionals argue that this marks an extreme expansion of executive power that could undermine the constitutional order of the United States.

ChainCatcher news, Federal Reserve Chairman Powell warned on Wednesday not to overinterpret the data showing the largest month-on-month increase in the Consumer Price Index (CPI) in over a year, while also acknowledging that the readings were significantly higher than expected.During a hearing before the House Financial Services Committee, Powell stated, "The CPI readings are almost above all forecasts, but I want to remind you of two points. First, we will not get excited over one or two good readings, nor will we get excited over one or two bad readings. Second, our inflation target focuses on the Personal Consumption Expenditures (PCE) price index because we believe it is a better measure of inflation. Therefore, you need to understand the conversion from CPI to PCE, and tomorrow we will get more relevant data from the Producer Price Index (PPI). Later tomorrow, we will know how the PCE readings look."

ChainCatcher news, Federal Reserve Chairman Powell stated that we do not want to hinder banks from providing services to legitimate customers using cryptocurrency. It is appropriate to ensure that we understand the associated risks when banks engage in cryptocurrency activities on their own. (Jin Shi)

ChainCatcher news, Federal Reserve Chairman Powell stated that many cryptocurrency-related activities can be conducted entirely within banks. (Jin Shi)

ChainCatcher news, according to Jinshi reports, Federal Reserve Chairman Powell stated that in hindsight, tightening policies earlier would have been a good move, but it is uncertain how much difference taking action sooner would have made.

ChainCatcher news, according to Jinshi reports, Federal Reserve Chairman Powell stated that he would not resign even if President Trump requests it.

ChainCatcher news, according to Jin10, Federal Reserve Chairman Powell stated that there will be appropriate and cautious adjustments to the Federal Reserve's framework. When asked whether the Federal Reserve would allow the government efficiency department DOGE to access Federal Reserve data, he stated that there has been no contact with them and there is no news to report at this time.

ChainCatcher news, according to Jinshi reports, Federal Reserve Chairman Powell attended a hearing of the Senate Committee on Banking, Housing, and Urban Affairs, delivering his semiannual monetary policy testimony and answering questions from lawmakers. Key points from Powell's testimony include:Inflation has significantly approached the long-term target of 2%, although it remains slightly high. He is closely monitoring various risks under the dual mandate.Recent data shows that economic activity continues to expand at a robust pace.A wide range of indicators suggest that the labor market is overall balanced and does not pose significant pressure on inflation.The Federal Reserve will continue to reduce the size of its securities holdings.The restrictiveness of monetary policy has significantly decreased, and the economy remains strong, so there is no need to rush to adjust the policy stance.The FOMC will comprehensively assess the latest data, changes in the economic outlook, and the balance of risks. As the economy develops, the Federal Reserve will adjust its policy stance to maximize employment and ensure price stability.

ChainCatcher news, according to Jinshi reports, the dollar is trading steadily as investors focus on Federal Reserve Chairman Powell's speech and look forward to the U.S. inflation data to be released tonight. Powell stated during his testimony before the Senate Banking Committee on Tuesday that the Federal Reserve is not in a hurry to cut interest rates.He will speak to the House Financial Services Committee tonight at 11 PM. Credit Suisse analyst Ipek Ozkardeskaya said in a report that lower-than-expected inflation data would alleviate concerns about price pressures and weaken the dollar.Conversely, stronger-than-expected inflation data could support further increases in U.S. Treasury yields and the dollar, while dampening risk appetite.

ChainCatcher news, according to Cointelegraph, Federal Reserve Chairman Powell stated on February 11 during a Senate Banking Committee meeting that "there is no need to rush to adjust" interest rates, but the cryptocurrency market has shown strong resilience.Cryptocurrency analyst Matthew Hyland noted that although this is "the worst news for the crypto market in 2025," the market reacted calmly, with some tokens even experiencing gains, which may indicate that the market has already priced in the expectation of the Federal Reserve maintaining high interest rates.

ChainCatcher news, according to The Wall Street Journal, Trump administration officials are discussing plans to consolidate banking regulatory agencies, potentially attempting to merge the Federal Deposit Insurance Corporation (FDIC) into the Treasury Department without congressional approval, and combine its regulatory functions with the Office of the Comptroller of the Currency (OCC).The plan aims to reduce the power of banking regulatory agencies and increase the government's direct control over the financial industry. Previously, the Trump administration had taken action against the Consumer Financial Protection Bureau (CFPB) in an attempt to limit its influence.

ChainCatcher news, according to Jinshi reports, Federal Reserve Chairman Powell stated that we will never launch a central bank digital currency.

ChainCatcher news, Federal Reserve Chairman Powell stated that it is time to "revisit" the issue of de-banking, following criticism that the crypto industry is being excluded from banking services. During a Senate Banking Committee hearing on Tuesday, the committee's chairman, Tim Scott (R-S.C.), asked Powell if he would be willing to work with him to ensure that financial regulations do not "impose unnecessary burdens."Powell responded, "I commit to working with you, and we do strive to avoid overburdening. Frankly, I think it's fair to revisit the issue of de-banking." "We are not doing this intentionally, but sometimes regulation leads to certain outcomes, and we need to improve on that," Powell added. Scott also asked Powell if he would be willing to work with lawmakers to end the de-banking issue, to which Powell agreed.