X: X is not responsible for executing trades or acting as a broker. BTC breaks $70,000.

Headline

▌X Product Manager: X Does Not Execute Trades or Act as a Broker

Regarding reports that X will offer cryptocurrency trading, Nikita Bier, X's product manager, stated that X does not execute trades or act as a broker; it only provides financial data and trading links.

▌BTC Breaks $70,000

Market data shows that BTC has broken through $70,000, currently trading at $70,001.17, with a 24-hour increase of 1.71%. Market volatility is high; please manage your risk accordingly.

Blockchain Applications

▌Compliance Consulting Executive: Fully On-Chain Social Welfare is Feasible, Compliance and Sanctions Review are Key Challenges

Julie Myers Wood, CEO of compliance and monitoring consulting firm Guidepost Solutions, stated that social welfare programs currently distributed through traditional methods can explore on-chain distribution to improve efficiency and enhance auditability. Wood pointed out that on-chain distribution can speed up processes, reduce costs, and decrease intermediaries, but governments still face regulatory challenges such as anti-money laundering (AML), sanctions compliance, and KYC identity verification when issuing tokenized bonds. Coinbase CEO: Enabling More x402 Checkout Processes is Crucial Coinbase CEO Brian Armstrong stated that enabling more x402 checkout processes is crucial so that customer service staff can perform their tasks more efficiently. Cryptocurrency Elon Musk's X will launch stock and cryptocurrency trading within weeks, covering digital operations such as transfers and investments. Musk's social platform X will allow users to trade stocks and cryptocurrencies directly on its platform within weeks. Nikita Bier, the company's product manager, stated that users can interact and execute trades through "Smart Cashtags" in posts. Meanwhile, X's internal payment system, X Money, is preparing to launch an external beta version within one to two months, aiming to create a "multi-functional application" where users can send messages, post, transfer money, and invest, enabling most daily digital operations.

Data: Polygon payment transfer volume shows monthly growth, with nearly 2 million transactions in January

Analyst @obchakevich_ wrote on the X platform that Polygon payment transfer volume is showing monthly growth, with nearly 2 million transactions in January. It should be noted that just two months ago, this figure was less than 1 million transactions. The main reasons for this growth include: the rapid adoption of payment AI agents on Polygon, driving the growth of "micro" transaction categories; and the increase in the number of card products in various innovative payment solutions, which also boosted "small" and "medium" transaction categories.

Important Economic Developments

▌The probability of the Fed keeping interest rates unchanged in March is currently reported at 90.8%

According to CME's "FedWatch" data, the probability of the Fed cutting interest rates by 25 basis points in March is currently reported at 9.2%, while the probability of keeping interest rates unchanged is 90.8%.

Golden Encyclopedia

▌What are Long and Short Positions?

Long and short positions represent opposing strategies used by investors and traders to anticipate price movements of an asset under consideration. In the cryptocurrency space, going long and short still apply to concepts from traditional financial markets. To profit from a rise in cryptocurrency prices, going long means buying it and expecting its value to increase over time. In contrast, going short in the cryptocurrency market means selling a cryptocurrency that you don't actually own in anticipation of a price drop, then buying it back at a cheaper cost to close the position and profit from the price decline. Cryptocurrency traders and investors utilize these strategies to navigate the high volatility and speculative nature of digital assets and to capitalize on opportunities in both bullish and bearish market conditions.

In cryptocurrency trading, a long position begins by buying an asset in the hope that its price will rise, while a short position begins by disposing of an asset (usually borrowed) in the hope that its price will fall. Closing a position means buying the asset at a lower price to gain profit, while exiting a long position means selling the asset at a higher price to lock in profits. Entry and exit points are crucial for the successful implementation of these strategies. Cryptocurrency long positions have the potential to generate substantial profits through price appreciation, but they also come with significant risks of market volatility and potential losses. Despite these risks, cryptocurrency long positions have the potential to generate significant returns. The opportunity to profit from price increases is the primary benefit. Short cryptocurrency positions can be rewarding by betting on price declines, but they also carry significant risks due to market volatility, unlimited potential losses, and unpredictable price increases. Shorting cryptocurrencies requires precise timing, meticulous risk management, and continuous market monitoring to successfully navigate inherent volatility and maximize potential gains while limiting losses.