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我们刚开始做这个播客的时候，觉得所有事都得自己搞定——写脚本、安排拍摄、设计Logo等等。
When we started this podcast, it seemed like we had to figure it all out on our own scripts, set up filming schedules, logos.
那时候压力特别大，每天都会冒出新的问题，逼着你立刻做决定。
It was super overwhelming and every day seemed to introduce a new decision that needed an answer.
刚开始做一件新事的时候，你的待办清单好像每天都在变长，新任务接二连三，很容易就淹没了你的生活。
When you're starting off with something new, it seems like your to do list keeps growing every day with new tasks, and that list can easily begin to overrun your life.
找到一个真正能帮你减负、让一切变得更简单的工具，往往能彻底改变局面。
Finding the right tools that not only helps you out but simplifies everything can be a game changer.
对数以百万计的企业来说，这个工具就是Shopify。
For millions of businesses, that tool is Shopify.
Shopify是全球数百万商家背后的电商平台，也支撑着美国10%的电子商务交易。
Shopify is the ecommerce platform behind millions of businesses around the world and 10% of all ecommerce in The US.
从我们这样的Crip Nation和Crypto One One播客这样的知名频道，到刚起步的小品牌，都在用它。
From household names like us at Crip Nation and the Crypto one one podcast, where you can get our book and merch to brands that are just getting started.
用上百个现成的模板，轻松开启你自己的设计工作室。
Get started with your own design studio with hundreds of ready to use templates.
Shopify 能帮你打造一个与品牌风格完全契合的精美网店，无论是上新商品还是优化现有商品，都能大幅提升效率。
Shopify helps you build a beautiful online store that matches your brand style, accelerate your efficiency, whether you're uploading new products or trying to improve existing ones.
Shopify 内置了多种实用的AI工具，能帮你撰写产品描述、页面标题，甚至优化产品图片。
Shopify is packed with helpful AI tools that write product descriptions, page headlines, and even enhance your product photography.
让你的推广效果，就像背后有个专业营销团队在运作一样。
Get the word out like you have a marketing team behind you.
轻松创建邮件和社交媒体推广活动，覆盖客户活跃的每一个平台。
Easily create email and social media campaigns wherever your customers are scrolling or scrolling.
更棒的是，你还能获得一位精通全链条电商业务的专家支持，从库存管理、跨境物流到退货处理，样样都行。
And best yet, is your commerce expert with world class expertise in everything from managing inventory to international shipping to processing returns and beyond.
今天就选择业内最靠谱的合作伙伴开启你的事业，立即注册，只需1美元即可体验一个月，访问 shopify.com/crypto10one。
Start your business today with the industry's best business partner, and start hearing sign up for your $1 per month trial today at shopify.com/crypto10one.
前往 shopify.com/crypto10one。
Go to shopify.com/crypto10one.
就是 shopify.com/crypto10one。
That's shopify.com/crypto10one.
你有没有想过，哪些经济力量在影响着你的日常生活？
Are you curious about the economic forces shaping your daily life?
NPR的《Planet Money》播客，用你听得懂、也喜欢的方式解读经济。
The Planet Money podcast from NPR makes sense of the economy in ways you'll actually understand and enjoy.
兄弟们，你们不是特别爱听这些总结吗？
Guys, you love listening to the rundowns.
我最近就从这个NPR的《Planet Money》播客里获取了不少信息，尤其是关于霍尔木兹海峡的战事。
I get some of that information from this NPR Planet Money podcast, especially recently with the war going on, the Strait Of Hormuz.
这些内容一出来，你就能第一时间了解到最新动态。
You're just kinda getting those updates as they come from these guys.
他们出了大量特别棒的节目。
They put out a ton of awesome content.
虽然和《Crypto 101》的角度不一样，但听上去依然非常精彩。
It's a different perspective from crypto one zero one, but still a great listen.
如果你对时事和金融世界感兴趣，不妨去听听《Planet Money》播客。
So go over there and check out the Planet Money podcast if stuff like current events and the finance world interest you.
Planet Money 每一期节目都从一个问题开始。
Each story on Planet Money starts with a question.
最近几期问了为什么神奇宝贝卡片的价格涨得比你的退休金还快。
Recent episodes ask why Pokemon cards are growing faster than your retirement count.
关于战争的问题，就像我们最近在节目里聊得很多的那些。
Questions about the war, just like we talked about recently a lot on our program.
从就业市场到股市，再到超市里的物价，Planet Money 都给你讲得明明白白。
From the job market to the stock market to prices at the supermarket, Planet Money explains it all.
在这里，复杂的经济变得容易懂，人的故事比抽象理论更重要，让你边学边笑，听得开心。
Planet Money is a different kind of world where the complex economy somehow makes sense, where human stories supersede abstract theories so you can learn, laugh, and be entertained.
这是经济学，但接地气得很。
It's econ, but just down to earth.
主持人为了讲清楚经济，常常想出各种稀奇古怪的办法。
The hosts go to unusual lengths to explain the economy.
他们还出了一本书，专门追踪全球供应链。
They've published their own book to track the global supply chain.
他们甚至发射了一颗卫星，去研究私营航天业的经济逻辑。
They've shot a satellite into space to understand the economics of the private space industry.
他们深入一场现场图书拍卖，展示创意是如何进入市场的。
They've gone inside a live book auction to show how ideas get to market.
这档节目让你既能学到东西，大概还会笑出声，听完后看世界的眼光都不一样了。
It's the kind of show where you learn something, probably laugh, and walk away seeing the world a little differently.
如果你喜欢《加密货币入门》这类内容，那你一定会喜欢《Planet Money》。
And I think if you like crypto one zero one, you'll enjoy Planet Money.
不妨去听听看。
So maybe check that out.
关注NPR的《Planet Money》播客，了解金钱如何塑造这个世界。
Follow NPR's Planet Money podcast and understand how money shapes the world.
好了，各位。
Alright, everybody.
欢迎回来，继续收听《加密动态》的另一期节目。
Welcome back to another episode of the crypto rundown.
市场上血流成河。
It is blood in the streets.
迈克尔·塞勒正在抛售比特币。
Michael Saylor selling Bitcoin.
杰米·戴蒙正瞄准《清晰法案》，可眼下连一个像样的蓝筹股复苏迹象都看不到。
Jamie Diamond's coming after the Clarity Act, and there is no major blue chip green shoots in sight.
市场正在暴跌。
The market is dropping.
人们都在哭，布伦丹。
People are crying, Brendan.
他们涌上街头，问比特币是不是完了。
They're flooding the streets saying, is Bitcoin dead?
它完了吗？
Is it dead?
这事算完了？
Is it over?
但这种情节我们不是第一次见了。
But we've seen this story before.
这些年我们早就经历过这种波动了。
We've been here through the volatility over the years.
如果你想知道到底发生了什么，我们整理了一些原因。
So if you're interested in knowing what is going on, we've come up with some reasons.
我们做了研究，想告诉你为什么比特币和以太坊在下跌，但别急着下结论。
We've done the research to bring to you why we think Bitcoin, Ethereum are dropping, but not so fast.
这个市场里其实有回暖的迹象。
There are green shoots in this market.
如果你最近几周一直在听《Crypto 101》播客或YouTube视频，应该已经听到了一些内部消息，关于我们觉得可能还在逆势上涨的项目。
And if you've been listening to Crypto one zero one podcast on audio or YouTube, you over the last couple weeks have gotten some of that insider information on what projects we think might be continuing to go to the upward trend, the counter trend.
我们在节目中也推荐过一些标的，最后我们会回头看看它们现在表现如何，跟整个市场比起来怎么样。
And we've given you some winners on this show, so we're gonna circle back to those at the end of the show to show you how they're doing compared to the rest of the market.
不过我们得先从一条重磅新闻说起。
But we have to start off with the a block news.
布伦丹，比特币现在处于低迷期。
Brendan, Bitcoin is in a slump.
以太坊也一样，在下滑。
Ethereum is in a slump.
你看这里，币圈总市值就在那儿摆着。
We have coin market cap up right here.
可以看到，过去七天，Solana、比特币、以太坊，甚至整个前二十大币种，全都跌了大约百分之十。
As you can see, the seven day here, Solana, Bitcoin, Ethereum, even just the coin market cap twenty, seven days and a slide of 10%.
比特币这波下跌，主要集中在最近二十四到三十六个小时，跌幅相当明显。
And a lot of that move for Bitcoin's been in the last twenty four, thirty six hours, a hefty decline.
在深入分析原因之前，咱们先整体看一下情况。
So just let's go before we break down into the specifics of why we think this is going on.
你怎么看？
What what's your take?
你最近怎么样？
How are you doing?
我知道你人在加州。
I know you're out in California.
非常感谢你抽时间参与这次对话。
We appreciate you, you know, taking the time to jump on.
你是怎么应对当前这种宏观市场环境的？
But how are you navigating the macro environment of these markets?
现在外面的悲观情绪确实挺多的。
Because it's it's there's a lot of negativity out there.
是的。
Yeah.
现在确实到处都是负面情绪。
There's a lot of negativity right now.
你肯定也感受到了。
You're feeling it.
你也能看得到。
You're seeing it.
比特币刚刚跌破了7万美元这个关键水平，现在大概在6.5万美元左右徘徊。
Bitcoin kind of breaking down through a a big old level of 70,000, currently floating around $65,000 per token.
以太坊又回到了1800美元附近，短暂地试探了一下这个位置。
You have Ethereum getting back to $1,800, briefly kind of peeking its head around that territory.
Solana重新回到了75美元上下，自从二月份那次大跌后，我们大部分时间都困在这个区间。
Solana getting back under the mid seventies, which is where we've spent most of the time since that last leg down back in February.
现在的情况是，很多主流币都跌破了关键支撑位。
And what you have here is you have a lot of large caps breaking through critical support levels.
这背后有几个催化剂在起作用，但与此同时，不少传统山寨币的表现也相当不错。
And there are a couple of catalysts that are causing this, but there are a lot of, like, more traditional altcoins that are performing quite well here.
这些我们可能稍后在节目里再详细聊。
And we'll look at these probably, I think, a little bit later on in the episode.
不过，先简单提几个吧。
But, you know, just to kinda briefly mention a few.
比如Zcash最近就涨得挺猛。
I mean, you've had Zcash go on a run.
Near也涨了不少。
You've had Near.
Hyperliquid也涨得不错。
You've had Hyperliquid.
Venice同样表现强劲。
You've had Venice.
我觉得Akash这段时间涨得挺猛的。
You've had I think Akash has been on a pretty good run.
今年早些时候，Canton就涨过一波。
Earlier in the year, you had Canton.
Tau也涨过。
You had Tau.
现在简直就是爆品频出的季节，很多基于AI的加密货币，甚至像Hyperliquid这种不完全是AI概念的项目，都在抢走大市值币种的市场热度，资金正从比特币、以太坊、Solana、BNB、XRP这些主流币，流向Venice、Near、Hyperliquid，还有其他几个类似的项目。
Like, we're in full on popcorn season, and it does feel like a lot of these AI based cryptos or even Hyperliquid, which isn't as much AI, but it does feel like they're kind of sucking market share away from some of these large caps, and it's kind of going from Bitcoin, from Ethereum, from Solana, from BNB, from XRP, and into things like Venice and Near and Hyperliquid and a handful of these other ones as well.
所以现在最值得关注的，就是特定板块的轮动，以及那些突然爆发的个别山寨币。
So if there's anything to kind of watch right now, it is sector specific runs and also just individual altcoins that are running.
现在正是炒热点的时候。
It's popcorn season.
这不是整个加密市场都在上涨的时刻。
It's not a moment where the entire crypto market is moving up.
只是某些特定项目或细分板块在涨，而不是整个市场迎来全面反弹。
It's just these select individual names or these select kind of individual sectors, and that's what's running as opposed to the entire market kind of getting this rebound.
从技术面来看，这里确实跌破了重要的支撑位。
So pretty big break of support here for sure from a technical perspective.
价格再往下走，就真的不太妙了。
You really don't wanna see much lower than this.
事实上，即使现在这波下跌，也让人开始担心：我们会不会创下新低？
In fact, know, even with this move down now, it does kind of raise some red flags and open the conversation back up of, can we go to new lows?
真希望现在能打开我的图表给你看，Tevo。等我回来周五再聊，或者干脆做个专题，周一也行，好好跟大家说清楚这事。
I wish I had my my charts up for us, Tevo, and we'll probably talk about this maybe on Friday when I'm back, or maybe we can do an episode then, or maybe we can do one on Monday to kinda really get this back out to the people.
但最近几周，比特币多次在关键点位遭到拒绝。
But what you had here in in recent weeks was a rejection of a bunch of key levels on Bitcoin.
比特币。
Bitcoin.
你看到它在200日均线附近被拒绝了。
You had a rejection of the two hundred day moving average.
从高点算起的锚定VWAP也被拒绝了。
You had a rejection of the anchored VWAP from the high.
之前的盘整区、还有比特币长期形成的那个大空头旗形，全都被拒绝了。
You had a rejection of the prior consolidation zone, a rejection of this big old bear flag that Bitcoin's been in.
它正好撞上这些关键水平，迅速遭到抛售，随后就出现了明显的破位下跌。
It kind of hit all these critical levels, saw the swift rejection, and then following that, you've seen the subsequent breakdown.
大部分市场都在跟跌，但重点要留意的是，虽然整体市场在下行，仍有一些币种逆势上涨，表现强劲。
And a lot of the market is following, but, again, I think the key thing to kind of take note of here is that even though a lot of the market is following in this move down, you have a handful of coins that are defying this move and seeing substantial runs to the upside.
我们待会儿再回头聊聊这个。
So we'll probably circle back to that a little bit later on.
但我觉得对普通听众来说，这点值得提一下。
But I think it's worth noting for the general listener out there.
是的。
Yeah.
说得对。
It's a great point.
我们稍后会详细聊聊那些逆势暴涨的项目。
And, yeah, we'll deep dive onto those projects that are popcorn to the upside later in the show.
说实话，内容有点重复了——如果你一直在听，那这期对你来说很值；如果是新来的，记得点赞订阅，你来对地方了。
Because it's honestly, it's a little repetitive because if you've been listening and this is a good call, if you're new here, give us a like, subscribe, you're in the right place.
如果你一直关注我们的节目，即使宏观市场整体走低，我们也一直在聊布兰登提到的那些币，比如Venice、Hyperliquid、Near这些。
And if you've been coming back to the shows, even though the market at a macro level has been trending downward, we've been talking about all those ones that Brendan mentioned, your Venices, your Hyperliquids, Nears.
在社区里，你早就提前几周就听到这些消息了。
And inside the community, again, you're getting that stuff weeks before.
但光是这个播客，我们已经讨论这事儿六到八周了。
But even just on the podcast alone, we've been talking about this for six to eight weeks now.
所以只要你找对方向，就有不少上涨机会，但对很多人来说，还是得看比特币。
So a lot of positive price action if you know where to look, but it's it's again, Bitcoin for a lot of us.
我知道，包括我在内，我们都喜欢利用波动性来交易。你知道的，就像你之前上节目给我们看图表时所说的那些情况。
I know me and you included, we like to trade around the volatility sometimes and you know, that stuff as you've been saying when you've come on the show and shown us the charts.
布莱恩也一直在这么说。
And Brian has been saying it as well.
他说，嘿，这里的走势看起来有点震荡。
It's like, hey, it looks kinda choppy here.
这看起来不像是一个加杠杆重仓做多的好时机。
It doesn't look like it's a time to step in and go super long with leverage.
看起来不太妙，但另一方面，我们手里还是有不少比特币，还有一些比较稳的仓位。
It didn't look great, but at the same time, we have a lot of our, you know, Bitcoin and just kind of steady bags.
我们并没有频繁交易这些。
We're not trading around it.
我们就是长期持有。
It's something that we hold.
所以做这类交易的人都在亏钱，但市场上还是有赚钱的人。
So everybody's feeling the pain with that type of trade, but there's still winners out there.
咱们现在来看看恐惧与贪婪指数吧。
But let's go let's jump over to the fear and greed index.
节目快结束的时候，我们再回头看看币圈市值，给大伙儿再复盘一遍那些表现不错的项目。
And then at the end of the show, we'll circle back to coin market cap and go over those winners again one more time for the people.
我觉得上个月我们已经提过好几次这个指标了。
So we're we we've we brought this up a couple times, I think, in the last month.
最近没怎么聊，因为我们已经退出那个阶段了，你们看下面的走势就知道。
We haven't talked about it much lately because we got out of that if we scroll down.
我们当时说的是市场进入封锁状态。
We're talking about a lockdown here.
今年年初市场处于极度恐惧的时候，我们慢慢爬出来，一路回升到中性区间，有那么一小段时间甚至刚跨过中性线，但没多久，我们就一直稳定在这个中性区域了，布兰登，从四月初开始就是这样。
When we were in extreme fear early in the year, we came out of it, crawled our way back up, got into that neutral level, just a smidge agreed there at one point, not too much, and we've been really in this neutral level, Brendan, since let's see, beginning of April.
对，从四月初一直到最近，五月底六月初，都是这样，现在又回到恐惧区间了。
Yeah, basically beginning of April all the way to recently, the end of May and early June, and now we're we're in the fear.
而且我们正在慢慢逼近极度恐惧的水平。
And we are creeping towards extreme fear.
比特币又跌了几点，Ethan肯定会在接下来几天关注这个恐惧与贪婪指数。
A couple more points down for Bitcoin and Ethan will be there for sure, you know, in the coming days for the fear and greed index.
再说一遍，我们说的都不是投资建议。
So again, I, I nothing we say is financial advice.
我们就是几个朋友聊聊加密货币。
We're just couple friends talking crypto.
当你再次陷入恐惧时，这种波动特别大，回头看看这张图，从2023年到现在，历史上多次出现极端恐惧的情况。
The volatility here when you're in the fear again, like bring going back to this chart, historical times of extreme fear over the last, I mean this is all the way back to '23, right?
你看，这里出现过极端恐惧，你这时候买入，价格就涨了；这里又出现一次极端恐惧。
You got extreme fear here, you buy here, it goes up, you got extreme fear here.
从长期来看，这些时候进场其实挺合适的，对吧？
You know long term these are historically good times to step in, right?
但你还是得自己做研究，自己分析，自己做决定。
But again, you have to kind of make your own research, do your own research, make your own decisions.
Brendan，这个恐惧与贪婪指数里，有什么特别吸引你的地方吗？
Anything for the fear and greed index that jumps out to you, Brendan?
是的。
Yeah.
我觉得这一切其实都回到了沃伦·巴菲特那句我们可能听过上百万遍的话：别人恐惧时我贪婪，别人贪婪时我恐惧。
Well, I get I think it all goes back to the original Warren Buffett quote that we've probably heard a million times, which is be greedy when others are fearful and fearful when others are greedy.
现在我们看到的，正是这种情况。
And that's kind of what we're looking at right now.
当你看到恐惧与贪婪指数跌到极端恐惧的区域时，历史上这通常是提醒你该想想：在这种地方，哪里能找到机会？
When you see the fear and greed index get down into the extreme fear territory, historically, is an area where you want to start saying, Okay, well, where can I find opportunity at a zone like this?
当恐惧与贪婪指数降到10以下，通常就意味着市场快要触底，或者已经非常接近底部了。
Now, when you see the fear and greed index get under or around the 10 or below, that's usually when you look at a bottom point or you get really, really close to a bottom point in the market.
不过我们很少见到这种情况。
Now, we haven't hit it frequently.
比特币历史上，只有寥寥几次出现过这么严重的超卖，恐惧指数跌到10这么低。
It's only been a handful of times throughout Bitcoin's history that you see it get so oversold, so much of extreme fear that you get down to a 10.
如果真能跌到10以下，那我就会特别留意，这可能是市场见底的信号。
I would say if we do get down or below a 10, that's where I would really start looking more closely for a market bottom.
但我还是觉得，在极度恐惧的区间里，到处都能找到抄底的机会。
But I still think I would look anywhere in the extreme fear territory for some sort of buy the dip link opportunity.
好的，来点加密货币入门知识。
Alright, crypto one zero one fam.
我从来没提过一件事，就是上大学时，我曾打过一级联赛的美式足球。
A story I don't talk about at all is back in college, I played college football at a division one level.
那时候想吃啥就吃啥，去健身房，按计划训练，身材一直保持得很好。
Back then, could eat whatever I want, hit the gym, do the program, and stay in great shape.
根本不用特意去操心。
I didn't even have to think about it.
现在年纪大了，三十多岁，情况完全不一样了。
Now that I'm older, in my thirties, it's a totally different story.
我本人可最喜欢这种老爸身材了。
And nobody loves a good dad bod more than me.
但夏天快到了，我琢磨着是不是该稍微减点脂肪。
But with the summer coming up, I was thinking maybe I should lean out a little bit.
我和朋友们就开始研究怎么才能做到这一点。
And my friends and I started looking into how we could achieve this.
我们不想走注射肽类或者补充睾酮那种路子，动不动就得打针，太麻烦了。
And instead of going down this peptide route or testosterone route where you gotta do all these needles and stuff, we didn't wanna do that.
我们想找一种更自然的方式，结果就发现了Mars Men。
We were looking for something more similar, and so that's where we found Mars Men.
人年纪大了，肌肉流失得快，脂肪也更容易堆积，主要原因就是睾酮水平下降。
Listen, you lose muscle faster and store more fat as you get older and a big reason for that is testosterone.
大多数男性到了三十岁出头，睾酮就开始下滑，这让你更容易长胖，尤其是肚子上。
Most guys levels start dropping in their early thirties and it makes it easier to gain fat especially around the midsection.
脂肪越多，身体就把越多的睾酮转化成雌激素。
And the more fat you gain, the more your body converts testosterone into estrogen.
这就成了一个怎么也break不了的恶性循环。
It just makes it a never ending cycle.
但Mars Men是一种天然补充剂，能帮助维持健康的睾酮水平，让你更有效地燃脂、长肌肉。
But Mars Men, it's a natural supplement designed to support healthy testosterone levels, helping your body burn fat and build lean muscle more efficiently.
没有那些奇怪的兴奋剂，只用像东革阿里、锌和硼这样的成分。
No weird stimulants, just ingredients like Tonga Ali, zinc, and boron.
我有些朋友已经服用过这个了。
Listen, I have friends that have taken this.
他们说自己的精力更稳定了。
They're saying they have more consistent energy.
他们在健身房的力量也提升了。
They're stronger in the gym.
专注力更好了，体脂也稍微降了一点。
They have better focus, and they're leaning out a little bit as well.
食欲没那么旺盛了，恢复得更快，整体状态也更佳。
Less cravings, better recovery, just more dialed in overall.
如果你有兴趣试试，这个东西不用打针、不用注射激素，完全不用担心。
And listen, if you're interested in trying this, it's something that again, you don't have to worry about needles and shots and peptides.
就是一颗小小的药丸。
It's just a pill.
产品会直接寄到你手上，而且有90天无理由退款保障，完全零风险。
It's delivered to you and there's a ninety day money back guarantee, so there's no risk at all.
超过91%的用户反馈精力更充沛了，评价都摆在那儿呢。
Over 91% of users report higher energy and the reviews speak for themselves.
限时优惠，我们的听众终身享受五折，包邮，还送三份赠品，去 That's men go to mars.com 下单就能拿到。
For a limited time, our listeners get 50% off for life, free shipping, and three free gifts at That's men go to mars.com for 50% off, three free gifts when you check out.
在亚马逊上也能买到。
And it's also available on Amazon.
买完之后，他们会问你是从哪儿听说的。
After you purchase, they will ask you where you heard about them.
麻烦支持一下我们的节目，告诉他们你是通过 Crypto 10 来的。
Please support our show and tell them crypto one zero sent you.
再次提醒，限时福利，我们的听众终身五折、包邮，外加三份赠品。
Again, for a limited time, our listeners get 50% off and free shipping for life plus three free gifts.
赶紧去 mengotomars.com 看看。
Go to mengotomars.com.
去 mengotomars.com 下单，享五折优惠，还有三份免费赠品。
That's mengotomars.com for 50% off and three free gifts when you check out.
另外，亚马逊上也能买到，无论在哪里购买，记得告诉他们，是 Crypto 101 推荐的。
Also, check them out on Amazon and wherever you purchase it, tell them crypto one zero one sent you.
你知道什么最拖慢团队进度吗？
You know what slows teams down more than anything?
不一定是人手不足、预算不够，甚至也不是工具本身的问题。
It's not always headcount budget or even the tools themselves.
真正的问题是，工作方法只藏在某个人脑子里，从没被写下来。
It's when the way work gets done lives in someone's head and never actually gets documented.
一旦新人加入、新系统上线，或者同事离职，大家就开始用不同的方式做同一件事。
Then someone new joins, a new platform gets rolled out, or a teammate leaves, and suddenly everyone's doing the same process in a different way.
今天赞助我们的 Scribe，正是为了解决这个问题而生的。
That's exactly the problem today's sponsor, Scribe, was built to solve.
Scribe 是一个工作流 AI 平台，能实时捕捉任何操作流程，并自动生成一步步的文档。
Scribe is a workflow AI platform that captures any workflow in real time and turns it into a step by step documentation automatically.
你只要打开扩展程序，像平时一样操作，Scribe 就会自动记录下你每一步点击、操作和截图，生成完整的指南。
You just turn on the extension, do the process like you normally would, and Scribe builds the guide as you go, capturing every click, step, and screenshot.
它已经被超过八万家大型企业信赖，包括近一半的《财富》500强公司。
And it's already trusted by over 80,000 enterprises, including nearly half of the Fortune 500.
我们团队是远程办公，我确实多次遇到要反复向同事解释同一个设置或流程的情况，每次都觉得这事儿早该写下来才对。
With our team being remote, I have definitely had moments where I've had to explain the same setup or process more than once to a colleague, and it always feels like something that should have been documented the first time.
用 Scribe 的话，原本要花几个小时写文档、截屏、整理的工作，一分钟内就能准备好分享。
With Scribe, what could take hours of writing, screenshots, and cleanup can be ready to share in under a minute.
Scribe 还会自动模糊截图中的敏感信息，比如姓名、邮箱和账户号码。
Scribe also automatically redact sensitive information like names, emails, and account numbers from screenshots.
管理员可以统一设置规则，确保团队里没人漏掉这项安全措施。
Admins can enforce that across the team so nothing slips through the cracks.
而且，任何人在跟着流程操作时，都能实时看到屏幕上精准的指引，告诉你该在哪个地方点击。
Plus, anyone following the process can get real time on screen guidance showing exactly where to click inside the actual tool.
Scribe 不只是记录工作流程。
And Scribe doesn't just document workflows.
它会利用人工智能帮你优化流程，指出重复的步骤、瓶颈以及可以简化的地方。
It uses AI to suggest ways to improve them, helping you spot redundant steps, bottlenecks, and places to simplify.
想预约专属的企业演示，请访问 scribe.howcrypto100one。
To book a personalized enterprise demo, visit scribe.howcrypto100one.
就是 S C R I B E。
That's S C R I B E.
how/crypto100one。
How/crypto100one.
说实话，天一热，我真不想费劲搭配衣服。
I'll be honest, once it gets hot out, I'm not trying to overthink outfits.
我就想要舒服、透气，但又不至于显得太随便的穿搭。
I want something that's comfortable, breathable, and still looks like I tried a little bit.
这时候我就选了 Quince，我刚买了他们家的纯亚麻抽绳裤，还配了件短袖纽扣衬衫，简直太合我心意了。
That's where Quince is coming for me, and I absolutely love their 100% linen drawstring pants with the matching short sleeve button down that I just got from Quince.
兄弟们，这正是我夏天最想要的那种衣服。
Guys, it's exactly the kind of thing I want in the summer.
穿起来特别方便。
Super easy to throw on.
一点都不僵硬。
Doesn't feel stiff.
也不觉得沉甸甸的。
It doesn't feel heavy.
透气性好，看起来清爽，又不会太正式。
It's breathable, and it looks clean without being too dressed up.
轻松就有度假感，不像临时胡乱塞了两件衣服，而且整个夏天在家也能保持这种悠闲状态。
It's basically vacation energy without looking like you packed in five minutes, and you can have that vacation energy all summer long at home as well.
Quince 做的都是高品质的基础款，价格却不像奢侈品那样虚高。
Quince does high quality essentials without the luxury markup.
他们家有亚麻、有机棉T恤、轻薄毛衣，全是日常真会穿的东西。
We're talking linens, organic cotton, tees, lightweight sweaters, all the stuff that you actually wear.
他们的欧洲亚麻裤和衬衫特别适合夏天穿，价格还很合理。
Their European linen pants and shirts are a great warm weather upgrade, and the price is right.
价格从34美元起，定价是关键因素。
They're starting at just $34 and pricing is a big part of it.
Quince的所有商品比同类品牌便宜50%到80%，因为他们直接合作有道德的工厂，省去了中间商。
Everything at Quince is 50 to 80% less than similar brands because they work directly with ethical factories and cut out the middleman.
你付的是品质，而不是品牌logo。
So you're paying for quality, not just the logo.
他们的产品远不止衣服。
And they go way beyond clothing.
你肯定听过我多次提到我有多喜欢Quince的网站。
You've heard me talk about how much I love the Quince website.
他们还有床品、炊具、沙发。
They have bedding cookware sofas.
这种网站就是这样，你本来只想买一样东西，结果逛了半天买了好多。
It's one of those sites where you go for one thing and end up staying for many more.
提升你的夏日衣橱。
Elevate your summer wardrobe.
前往 quince.com/crypto101，享受免费配送，现在加拿大也支持365天无理由退换。
Go to quince.com/crypto101 for free shipping on your order and three hundred sixty five day returns now available in Canada too.
访问 quince.com/crypto101，享受免费配送和365天退换服务。
That's quince.com/crypto101 for free shipping and three hundred and sixty five day returns.
quince.com/crypto10one。
Quince.com/crypto10one.
是的，这个观点很有道理。
Yeah, it's a great point.
再说一遍，我觉得我们可以转到比特币最近的动态，过去二十四到四十八小时里，这些事确实导致了市场下跌。
And again, I think we're gonna go, we can jump over to kind of the Bitcoin specific things that are happening that really over the last twenty four to forty eight hours kind of caused a downswing.
但归根结底，它是个宏观资产。
But again, it's a it's a macro instrument.
所以，感觉怎么样？我们直接切入主题，然后再展开讨论。
And so what what feels well, let's jump into it and then we can broaden the discussion.
我们先来看这条推文，我很喜欢这个。
So let's go over I I like this tweet.
我一直想弄清楚，到底是什么导致了这次下跌？
It's something that I've been trying to follow of, know, what caused this?
因为迈克尔·塞拉这次卖出了比特币，这是自2022年以来的第一次。
Because again, Michael Saylor sold Bitcoin for the first time since what, 2022.
所以一大早大家都慌了，不过这一点我们之前其实已经聊过了。
And so everybody freaked out in the morning and, know, again, we we've kinda covered.
但说真的，他至少提前透露了这个新策略——打算卖比特币来支付股息。
He he to his credit, he at least kind of projected this strategy or this newer strategy of like, hey, we're gonna sell Bitcoin to fund the dividend.
他们打算买一些债券，用来稳定地支付股息。
We're buying some bonds to consistently fund the dividend.
然后再买回更多的比特币。
And then like, we'll buy more Bitcoin.
通过这套金融操作，加上优先股的安排，他们最终买入的比特币会比卖出的多。
We're gonna buy more Bitcoin than we sell through his financial alchemy of the strategy and all the preferred stocks.
过去几周，我们已经讨论过MicroStrategy这家公司的这套策略了。
We kind of covered that over the last couple weeks of what they're trying to do in their strategy of MicroStrategy.
所以这是一方面。
So that was one thing.
他们正式出手了。年初到现在，我们一直谈到BlackRock、IBIT这些比特币ETF表现强劲，但情况开始变化了。
They officially sold the We talked about the strength at the beginning of the year up until this point, the BlackRock, IBIT and all the Bitcoin ETFs had a lot of relative strength.
之前并没有出现大量恐慌性抛售。
There wasn't a lot of panic selling.
但这里似乎到了一个转折点。
There seems to be a little bit of a tipping point here.
已经连续九个交易日出现资金外流。
We've had nine sessions of outflow.
所以，ETF的整体趋势明显向下。
So again, the trend is downward for the ETFs.
我们看到一波清算潮。
We had a bunch of liquidations.
市场一出现闪崩，推特上就开始刷那些杠杆用户的清算通知，我们都看习惯了。
We were getting the tweets, you know, when the market flash crashes a little bit, you start to get those liquidations for people with leverage.
我还看到Mt. Gox在动它的比特币钱包，就在6月2号，又转了一笔新地址。
And this one I saw Mount Gox still flexing that it has some Bitcoin wallet, you know, moving a new wallet there on June 2.
这是几个月来最大的一笔转账，正好赶在2026年10月的还款截止日之前。
It's the largest transfer in months ahead of an October 2026 repayment deadline.
所以看起来，这事儿又来了。
So again, it looks like this
真是时候了。
Just what we need.
没错。
Yeah.
屋漏偏逢连夜雨。
So when it rains, it pours.
我倒觉得，反过来想，现在这情况跟当初的AI热潮有点像，至少我觉得，现在有点过热了。
I kinda, I mean, I kinda like the counter argument of this is like, it is starting to feel just like the AI trade, at least for me, is starting to feel frothy.
对比特币的负面情绪，还有以太坊，也已经炒到顶了。
The the Bitcoin negativity is is definitely reaching a fever peak as well as long along with ETH as well.
这些周期你总得经历一遍，涨了又跌，跌了又涨。
Again, you go through these cycles, these boom and bust cycles.
街上很多人又在说，比特币完蛋了，以太坊也完蛋了。
And again, there's there's a lot of people in the street saying, know, hey, Bitcoin's dead, especially Ethereum's dead.
我觉得我这儿记录着呢，让我找一下。
And meanwhile, you know, I think I have it on the sheet here.
我打开看看。
I'll pull it up.
我们有Sailor，或者我之前说过。
We have Sailor Sailor and or I said this.
Sailor在这个周期里终于出手了，就像发现你最爱的超级英雄根本不存在一样。
I was like, Sailor finally selling in this cycle is like finding out your favorite superhero isn't real.
真让人难过。
Very sad.
这感觉就像发现WWE全是演的。
Moreover, it's like finding out the WWE was fake.
没错。
Exactly.
所以，布伦丹，在交给你之前，有件事我们好久没聊了。
So, Brendan, before I hand it off to you, there was one thing that we haven't talked about in a while.
当比特币创下历史新高时，我们当时一直在关注市场情绪。
And when Bitcoin was at all time highs, we were kinda tracking the sentiment.
在市场过热的时候，我特别留意的一个信号就是‘比特币主导区块’的出现。
One of the sentiments I like to see of of a frothy any market is when it leads the a block a block.
在比特币创历史新高那会儿，它确实主导过一段时间的区块。
And Bitcoin was leading the a block for a while at all time highs.
不过最近它已经很久没出现这种情况了。
Obviously, it hasn't been there in a while.
昨晚，我第一次在CNBC和福克斯新闻上看到了比特币主导区块的报道。
Last night for the first time on CNBC and Fox, I saw a Bitcoin a block segment.
显然是赛勒的抛售引发了这个话题，他们还讨论了比特币最近的价格表现有多差。
Obviously, Saylor selling led that and they talked about Bitcoin's price action, how poor it's been recently.
所以对我来说，这种迹象说明你更接近底部，而不是顶部，这很明显。
So again, to me sign like you're closer, that's a sign you're closer to the bottom than than the than, you know, the top obviously.
那你对目前的情绪变化，或者我们之前提到的那些主要催化剂，有什么看法吗？
So any thoughts on what you're seeing sentiment wise or breaking down any of the the the major catalysis that we went over?
现在的情绪确实很低迷。
Well, sentiment right now is is pretty sour.
你根本不需要是专家，就能看得出来。
I think you don't have to be an expert to see that.
你上加密货币推特一看就明白了。
You go on crypto Twitter, you see it.
你随便跟人聊一聊，也能感觉到。
You go and you talk to someone, you see it.
Saylor抛售就是个典型的例子。
Sailor selling is like a prime example of this.
大家都挺沮丧的。
People are frustrated.
你能看到很多人对这些大型加密货币感到失望。
You see a lot of frustration, I think, towards, again, the large caps here.
大家对比特币没能起到对冲作用也很不满，对吧？
You see frustration that Bitcoin hasn't acted as much as a hedge, right?
马克·库班这些人抛售之前就说过类似的话。
That's what Mark Cuban and some people said before they sold.
它并没有像大家期待的那样发挥对冲作用。
It's not behaving as much like a hedge as they wanted to.
所以现在很多人在抛售比特币。
So you see people selling Bitcoin.
还有人讨论以太坊，说它活跃度不足、扩展性差，维塔利克也背离了最初的愿景。
You see people talking about Ethereum and saying, oh, it's lack of activity and it's lack of scalability, and Vitalik is getting away from its original mission.
也有人试图辩解说他其实正在回归初心，这正是维塔利克自己一直在强调的，但大家还是有怨气。
And some people are trying to say he's getting back to his original mission more, which is what Vitalik's been trying to say, but there's frustration there.
Solana也让人失望，表现远没达到大家的预期。
There's frustration with Solana too, where it's just not performing as well as people had expected.
尽管链上数据看起来还不错，但这个代币的价格却一路暴跌。
And despite it seeing some levels of success from, like, on chain metrics, you see the token just plummeting down here.
所以从各个角度看，大家的不满情绪都很明显。
So you see frustrations from a lot of these different ends.
对吧？
Right?
一年前基础生态还一片繁荣，现在市场下滑了，到处都能看到抱怨。
You go to the base ecosystem booming about a year or so ago, and then now as the market has declined, you see frustrations across the board.
我觉得这正是让很多人感到困惑的原因。
And I think that's what's throwing people for such a spin here.
情绪确实很低迷，但我认为还没到大家说的那么糟糕。
So sentiment is is definitely low, but I don't think it's as bad as people are making it out to be.
大家的情绪反应，其实比实际情况要严重得多。
I think people's emotional reaction here is a lot worse than sentiment or the reality of the situation actually is.
所以事情真有那么完美、那么乐观吗？
So are things like picture perfect and jolly?
也不一定，但我也不觉得这是末日来临的场景。
Not necessarily, but I also don't think it's this doomsday scenario.
人们好像觉得整个行业就要崩盘了，死气沉沉，一点动静都没有，诸如此类。
People are acting as if the space is falling apart and it's dead and there's no activity and this and that.
你回头看看，跟以前一个周期或者这些资产创历史新高时相比，我们的很多关键指标其实表现还不错。
You go back and you measure lot of what the performance metrics that we have seen to maybe a cycle ago or to when a lot of these assets were at all time highs, we're doing fine from a couple of years ago.
真的，真的还不错。
We really, really are.
我觉得大家很容易就忘了这一点。
And I think people are easy to forget that kind of thing.
对吧？
Right?
他们总希望一切都能不断创新高。
They always want something to be at all time high.
他们总希望一切都在持续增长。
They always want it to be growing.
他们总希望最好一直持续下去，永不停歇。
They always want the best nonstop forever.
我的意思是，事情哪有这么运作的。
I mean, that's just not the way that things work.
你可以从无数个角度来看待这个问题。
You could look at this from a million different ways.
对吧？
Right?
你看看金属市场。
You look at the metals market.
人们说那早就没戏了。
People said that was dead.
都说它不会再有起色，确实也沉寂了挺长时间。
It was never gonna do anything, and it did didn't do anything for a long time.
可后来突然爆发了，大家又说：别管加密货币了。
Then it boomed, everyone's like, oh, forget cryptos.
全都是金属的事。
It's all metals.
他们忘了这十五年或者十年里金属价格一直横盘，结果突然间因为一波上涨，一切都变了。
And they forgot the, what, fifteen years or the ten years it went sideways, and now all of a sudden everything had changed because it had this rally.
你再看看软件领域。
Then you go and you can look at the software space.
对吧？
Right?
软件完蛋了。
Oh, software is dead.
人工智能会把它取代。
AI is gonna take it over.
各种说法都有。
This and that.
但很明显，事实根本不是这样。
And, like, obviously, that's not the case.
网络安全也是同样的情况。
You could say the same thing with cybersecurity.
你在这边也看到了。
You saw it over on that front.
一年前你对谷歌也是这么看的，对吧？
You saw the same thing, like, a year ago with Google.
对。
Right?
哦，谷歌完蛋了，现在啥也干不成了。
Oh, Google's dead, and it's, you know, it's not gonna be able to do anything now.
谷歌正火，软件却不行了。
Google's hot, and software is bad.
芯片公司不行了，全靠软件撑着。
And then you have the chipmakers are bad, and it's all software.
反过来也一样。
And you go vice versa.
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你有这么多不同的情况，我想说的是，这和加密货币的关系在于，人们的情绪变化太快了。
You have all these different things, and the point that I'm trying to make here is that the way that this relates to crypto is that people are fickle.
只要一件事看起来顺风顺水，人们立马就忘了另一件事有多糟。
People will forget as soon as the going is good for one thing, it's bad for the other.
他们说翻脸就翻脸，转头就把之前发生过什么、是什么情况全抛到脑后了。
They they switch sides, and they're very, very easy to forget about what it was like and what happened.
我觉得我们现在就处在这个阶段。
And I think that's where we're at right now.
你又不是第一次看到这种事了，不光在加密货币圈里，其他地方也一样。
And you again, you've seen this happen so frequently, not just in crypto.
对吧？
Right?
你见过市场周期和板块轮动，好的时候好，差的时候差，但传统金融里这种事发生得更频繁。
Because you've seen it with market cycles and sectors doing good and bad, but you've seen it in trad fi so frequently as well.
所以我想强调的是，人们的情绪完全被当下发生的事牵着走，极其不稳定。
So that's what I would just look at here is, again, people's sentiment is very, very, very just much based on, like, whatever's happening at the moment.
你猜怎么着？
And guess what?
等市场重新上涨，人们就会把这事抛到脑后了。
People will forget about this when the markets do move back higher.
我觉得克拉里蒂法案还是牵动着很多东西。
I still think that there's a lot hanging on the Clarity Act.
这事儿很重要，也引发了不少担忧。
I think there's a lot of importance there, and there's a lot of fears.
我说的是担忧和挫败感。
I would say fears and frustrations.
我们待会儿再细聊，因为最近有些新进展，我想这些情绪就是从这儿来的。
And we're gonna talk about this in just a little bit because there's some updates here, and I think that's where some of this is coming from.
等我们开始谈克拉里蒂法案的时候，我再回过头来跟你讲这一点，Tevo，因为我觉得这正是原因之一。
So I will kind of come back to this point, Tevo, once we start talking about the Clarity Act because I think that has part of the reason.
我觉得现在抛售，是因为太多人曾经死心塌地地支持她或他。
I think seller selling is just something that so many people were ride or die for her for him.
我有很多朋友都会听他的演讲和分享。
I have so many friends that would listen to his talks, his presentations.
他们完全信奉他那套‘绝不卖出’的理念。
They lived and died for the idea of he preached never sell.
他一直说这些资产未来会大幅升值。
He was going to appreciate all these things.
结果他突然出手，让这些人简直难以接受。
And then him selling was, like, gut wrenching for them.
他们一直在买入MSTR。
They had been buying up MSTR.
他们认同他的理念，虽然现在看来，他的做法其实也有道理。
They believed in the mission, and they just even if it makes sense and right now, I think there's some justification for why he did this.
当然，还有很多比较随意的支持者，他们未必是专业分析师。
Even if it does, there was a lot of much more casual supporters of him who maybe aren't deep analysts.
这又不是他们的全职工作。
This isn't their full time job.
他们根本不会去深究每件事背后的来龙去脉。
They are the ones who aren't gonna go into the whole why behind everything.
他们只听进去最简单的一句话：永远不要卖。
They're just gonna hear the basics of he said never sell.
现在他卖了，这事儿就直接刻在他们脑子里了。
Now he sold, and that's just what goes into their head.
他们感到很难过。
And and they're hurt.
我觉得他们既难过又失望。
I think they're hurt, and they're upset.
他们难过又失望，是因为价格几乎跌了一半。
And they're hurt and upset because it's down 50% almost.
比特币几乎跌了五成，而他偏偏在这个时候卖了。
Bitcoin's down almost 50%, and now he's selling.
对他们来说，again，他们根本不会去琢磨这件事背后的原因。
So to them, again, they don't look into the whys behind the situation.
他们只看到比特币跌了，表现不佳，迈克尔·赛勒还在打折抛售，就觉得这简直是史上最糟的事。
They just see Bitcoin down, Bitcoin underperforming, Michael Saylor selling at discount, and to them, they're just like, this is the worst thing ever.
不过，我觉得这事背后确实有它的道理。
Now, again, I think there's some justification for why that's happening.
但光是这样，就让人特别沮丧。
But, again, that just leads to frustration.
对。
Yeah.
这话说得真到位。
It's it's a great point.
迈克尔·赛勒和他的策略这些年一直在变，尤其是过去一年，涉及那么多优先股和复杂的财务操作。
And Michael Saylor and strategy have evolved over the years, especially the last year with all these preferred stocks and the financial alchemy of it.
我们之前也试着分析过，分享过我们的看法。
We've tried to cover that and our takes on it.
这确实是个不断变化的过程，但事实就是事实。
So it's like, it's an ever evolving process, but the facts are the facts.
比特币跌了百分之五十，你现在卖的价格比历史高点低了不少，再看看这些损益表。
Bitcoin's down 50%, you're selling at a discount here than the all time highs and look at these P and Ls.
迈克尔·塞拉又亏了76亿美元，汤姆·李也亏了89亿美元。
Michael Saylor back in the red down 7,600,000,000 and Tom Lee down 8,900,000,000.
汤姆·李还在持续买入。
Tom Lee continues to buy.
他们上周刚买过。
They bought last week.
迈克尔·塞拉上周买了些债券，这周又卖了一点比特币。
Michael Saylor bought some bonds last week, sold a smidge of Bitcoin this week.
这些动向值得留意。
So something to track.
这些人一路坚持的信念真让人佩服，看看他们的言论固然重要，但对塞拉来说，现在更重要的是行动。
Just man, the conviction of these guys as they march forward, it's gonna be interesting to, you know, see their comments, but more than their comments, especially for Saylor now, it's action.
我觉得塞拉这个人，智商绝对是顶尖的，特别聪明，口才也好，经常接受媒体采访。
I think you know, I I think Saylor's probably a borderline just in general, very smart genius person just in his IQ And he's very well spoken and and did a lot does a lot of press.
但你其实是在改变立场。
But you you know, you're changing your stance.
要是直话直说，我们手上有不少你以前说过类似话的视频和推文。
Like if we're just gonna call a spade a spade, you know, we have plenty of clips and tweets of you saying one thing.
现在你却换了说法，还把这归功于他，说他早就预测到了。
Now you're changing your tune and you credit to him, he's projected this.
这可不是突然冒出来的，他早就预测到了，再加上新的优先股之类的，确实完全不一样了。
It's not out of the blue, he's projected this and and with the new, you know, preferred stocks and all that, but it's a different tune for sure.
市场正在消化这些变化，我们会继续跟进。
So the market's digesting it and and we'll continue to cover it.
就像你说的，我们这边还有些《清晰法案》的新消息。
As you said, we've got some Clarity Act news.
Jamie Crypto Diamond 和 Brian Armstrong 又杠上了。
Jamie Crypto Diamond and Brian Armstrong going at it.
咱们先听一段Jamie的发言，大概一分钟左右。
Let's listen to this clip of Jamie that we're gonna play it for about a minute.
接着是布莱恩·阿姆斯特朗的回应，如果你爱看现在的热门剧集，那这段可真够搞笑的。
And then we have Brian Armstrong's response, which was quite funny if you're into TV shows, current TV shows.
咱们来捋一捋：杰米·戴蒙、布莱恩·阿姆斯特朗，还有这个《清晰法案》。
So let's break this down for, Jamie Dimon, Brian Armstrong, the Clarity Act.
这个事儿挺复杂的，政府在慢慢斟酌着办。
So, you know, this is complicated, the government is doing it thoughtfully.
要是他们不认真对待，那问题可就大了。
If they don't do it thoughtfully, it will because it'll be a huge problem.
你觉得《清晰法案》现在这个样子，你满意吗？
So are you happy with the way the Clarity Act is turning out?
不满意。
No.
完全不满意，因为它允许他们给存款、稳定币这类东西付利息，却不用提供应有的保障，对反洗钱和银行保密法也毫无帮助。
No, because it allows them to effectively pay interest on deposits, stablecoins or something like that, without the protection that they should have, and it doesn't do anything for AMLBSA.
它几乎没有任何法律保障。
It has almost no legal protections.
所以不行，银行不会接受这种方式。
So no, the banks will not accept it that way.
美国银行协会、小银行、信用合作社，不只是大机构。
The ABA, the small banks, the credit unions, not just the big guys.
我对稳定币并不担心，但如果真发生了，我明确告诉你，我绝不会参与，它迟早会自己崩盘。
I'm not worried about stablecoin, but if it happened, I'm telling you, I would have nothing to do with it and it would eventually blow up on its own.
明白吗？
Okay?
但这只是我个人的看法。
But that's my personal thing.
不过我能理解其他银行的顾虑。
But I do understand the concern of all the other banks.
涨价就要来了。
The markup is coming.
那你们打算怎么办？
Mean, are gonna do about it?
确实如此。
It is.
我们会抗争到底。
We'll fight it.
要是输了，那就输了，我们照样过日子。
If we lose, we lose, and we'll live.
明白。
Okay.
但这场抗争一定会进行下去。
But it will be fought.
谁都不会向这个人，或者那家公司低头，明白吗？
This will not be no one's gonna bow down to this guy, okay, or that company.
他是唯一一个这样的人。
And by he's the only one.
对。
Yeah.
他正在华盛顿花上好几亿美金搞这件事。
And he's spending hundreds of millions of dollars in in Washington, this thing.
他说他代表的是整个Tevo。
He said he's he's representing the whole Tevo.
真糟心。
Shit.
这话不能再说一遍。
Can't repeat that.
不行。
No.
而且这正是让人感到不安的原因之一。
The the the and this is, I think, part of the reason that people got spooked.
对吧？
Right?
大家都想要《清晰法案》。
People want the Clarity Act.
他们原以为这事会比现在早发生。
They thought it was gonna happen sooner than it did.
可现在他们看到了这个。
And then now they see this.
每次都觉得，嘿，
And every time it feels like, hey.
我们总算往前挪了一点。
We're advancing a little bit.
离目标又近了一点。
We're getting a little bit closer.
总算有点进展了。
We're making some progress.
可一有这种事冒出来，
Something like this comes out.
你就能感觉到，大家对银行方面的不满越来越强烈，他们处理这事的方式实在让人失望。
And you have seen an increasing amount of frustration towards the banking side and the way that they've been handling this.
因为这段视频，如果它能说明什么的话，基本上是在告诉我们，杰米·戴蒙似乎愿意为这件事死磕到底。
Because this clip, if it shows us anything, what it basically shows us is it sounds like this is a hill that Jamie Dimon is willing to die on.
听起来对他来说，关于存款和稳定币的收益，他非常不愿意看到这种情况发生，甚至愿意为此抗争到底。
It sounds like for him, these deposits and the yields on stablecoins, like, he's willing to die on this hill of of not wanting it to happen.
他说，嘿。
He said, hey.
我们会跟它死磕。
We'll fight it.
我们会抗争到底。
We'll fight it.
就算输了也没关系，但我们绝不会接受这个结果。
If we lose, we lose, but we're not accepting this.
这让大家都感到不安。
And that spooked people.
大家心里都在想，哎呀，这下麻烦了。
They're like, oh, man.
我们还以为自己取得了一些进展呢。
He we thought we were making some progress.
他是真的愿意为这件事拼到底。
He's willing to die on this hill.
他根本不想答应这件事。
He doesn't want it.
他连谈判的余地都不留一丝一毫。
He's not even leaving the the the the negotiating table open.
他明确说，从我们这边来看，这完全不能接受。
He's saying this is just unacceptable from our end.
如果他们非要闹上法庭、一路打到底，那就打吧，输了就输了。
And if they'll take it to court and they'll run it all the way or whatever, but if they lose, they lose.
但他意思很明白，这件事在我们这儿根本没有商量的余地。
But he's basically saying there's no room for negotiation in this for us.
这事儿就是铁板一块，绝无妥协可能。
It is a nonnegotiable.
布莱恩·阿姆斯特朗显然采取了完全相反的立场，这种对立让很多人感到不安，因为我觉得，早就过了大家原本预期的节点，现在来回拉扯、冲突和分歧比普通人想象的要多得多。
Brian Armstrong taking obviously the opposite approach of this, and that kind of conflict is spooking people because I think it's already past the time that a lot of people expected this to go, and there's been more back and forth and more conflict and more disagreement than I think the average person expected.
现在大家担心的是，如果拖得太久，那这件事到底还能不能尽快签下来？
Now the fear is that if this gets pushed out too too far, then you run the risk of, like, is this thing really going to be signed anytime soon?
对吧？
Right?
关键在于，我们能不能在今年秋天中期选举前把这事搞定？
Because the the the emphasis is, can we get this done before the the midterms happen in the fall?
这成了大家最关心的时间节点——能不能在中期选举前完成？
And that seems to be the big timeline of, can we get this done before midterms?
如果拖不到那时候，那这件事很可能比我们现在预想的还要推迟很久，这就让人很焦虑了。
And if it doesn't, then maybe this really does get pushed out drastically farther than what we're currently expecting, and that freaks people out.
所以归根结底，问题还是在于：我们能不能尽快把这事办成？
So that's really what goes what it kind of goes back to here is it goes back to this idea of, can we get this done soon?
我们能不能看到它真正往前推进？
Can we see it actually move forward?
我们能不能减少围绕《清晰法案》的对话中那些分歧和冲突？
Can we decrease the amount of disagreement and conflict that's happening in in in terms of the the dialogue around the Clarity Act?
我们能不能在中期选举前把这事搞定？
And Can we get this done before midterms?
如果拖下去，大家普遍觉得这事很可能又要被推迟。
Because if we don't, then the consensus is that, hey, it looks as if it could get pushed out.
现在你看美国政府这边，正拼命推动这件事尽快落地。
Now you see the current administration in terms of the US government really pushing to get this done.
他们一开始对Coinbase和加密项目还挺不满的，但现在情况反转了。
You've seen frustration on their end, where at first they were a little bit frustrated with Coinbase and crypto projects.
现在他们更多是冲着银行体系发火，觉得对方在故意卡着不放行。
Now it's flipped, you've seen a lot of frustration towards the banking side and saying they're holding this hostage.
不少美国高官，甚至总统本人，都公开表达过不满，说对方在拖后腿。
You've seen a lot of key US officials, even the president, talk about this and be frustrated and be like, they're dragging their feet.
他们就是在故意拖延。
They're holding it hostage.
这很难办，因为我们之前说过，美国的银行是最老牌的，资金和影响力远超加密领域。
It's tough because what we've said before is that the The US banks are the people who have been around for the longest, and they have drastically more money and influence than the crypto side.
所以他们觉得自己理所当然该说了算。
And so they feel entitled as if they should get it their way because of that.
但现在加密圈的人说：不，这不对。
Now the crypto people here are saying, no.
这是我们的行业。
It's our industry.
是我们一手建起来的。
We built it.
我们最懂这里面的门道。
We understand it.
他们却跑来我们的地盘，硬要按自己的想法来定规矩。
They're coming onto our turf and trying to dictate what they think is best.
所以他们觉得，这完全说不通。
So they're saying that doesn't make any sense.
我同意这个看法。
I would agree with that.
我觉得银行想拥有比他们实际在这里更大的影响力，非要按自己的方式来，不然就走人。
I think that it it the banks want to have more influence than they actually have here, and they're trying to get it done their way or the highway.
因为他们体量太大，存在时间又太长，总觉得能靠强势手段说了算。
Because they're so big, because they've been around so long, they feel as if they can kind of just bully their way around.
政府对此也很头疼。
The government's frustrated by it.
加密阵营当然不满，但银行就是不肯让步。
Obviously, the crypto side is frustrated by it, but the banks aren't willing to budge.
这就造成了我们眼下这个僵局。
So that's kind of creates the predicament that we're in right here.
这个分析很到位。我后来还剪了一段露米斯参议员的发言，她是《清晰法案》的主要推动者，赶在退休前想促成这项立法。
It's a great breakdown, and then I pulled a clip from senator Lumis, obviously, one of the leads of the Clarity Act, trying to get this passed before she retired.
这对她来说意义重大。接下来我们看看她对杰米·戴蒙的回应，然后再转到布莱恩·阿姆斯特朗。
So it means a lot to her, and her response to Jamie Dimon, then we'll jump to Brian Armstrong.
这些话真的很让人反感，尤其是对币安的布莱恩·阿姆斯特朗。
Really distasteful remarks, especially towards Brian Armstrong of Coinbase.
他说Jamie觉得对方满嘴胡言。
Would say Who Jamie said he thought was full of Full.
是的。
Yeah.
没错。
Exactly.
满嘴胡言。
Full of.
所以事情是这样的
So here's here's what
跟它押韵。
Rhymes with it.
对。
Yeah.
杰米·戴蒙在这里完全错了。
Here's where Jamie Dimon is absolutely wrong.
他要么根本没读过这项法案，要么就是故意误导公众。
He either hasn't read the bill or he wants to mislead people.
我们不妨往好的方面想一想。
And let's put the best construction on this.
他根本没读过这项法案。
He hasn't read the bill.
适用于银行的反洗钱规定，以及《银行保密法》的相关条款，也同样适用于数字资产。
AML, anti money laundering provisions that apply to banks, and the Bank Secrecy Act provisions that apply to banks also apply into digital assets.
这些内容都在法案里写得明明白白。
It's in the bill.
法案里提到这类规定的地方有十几处，差不多有十六七处。
There's something like sixteen, seventeen references in the bill.
卢姆参议员说，杰米·戴蒙要么是故意误导，要么就是没读过这项法案。
Senator Lum is saying Jamie Diamond either wants to mislead or hasn't read the bill.
我不清楚。
I don't know.
说实话，我差不多也是这么想的，杰米就是特别爱重复他的那些话术。
I've not probably not that far off honestly, Jamie Jamie just likes his talking points.
他支持稳定币，支持加密货币，反对比特币，但又追捧炒作。
Again, pro stable coin, pro crypto, anti Bitcoin, pro craze.
很难说啊，过去几年杰米对这个行业说的话前后矛盾，左右逢源。
It's hard to, you know, Jamie's kinda talked out of both sides of his mouth over the last couple years about the industry.
所以这个观点挺公允的。
So it's it's a fair take.
至于布莱恩·阿姆斯特朗，我没听到他的原话，但如果你懂这个梗，那真是够犀利的。
And then when it comes to Brian Armstrong, I didn't get any audio from him, but boy, if you understand the reference, quite a shot.
他做了一张图，上面写着‘激烈竞争：杰米对布莱恩，冰球赛场对决’。
He made this graphic that says heated rivalry, Jamie versus Brian on the ice for hockey.
对那些关注当下热门剧集的人来说，‘激烈竞争’这个说法可太有深意了。
And for those who do follow some current TV shows, heated rivalry is quite the reference.
不知道的人可能没听过，不过嘛，事情就是这样了。
For those who don't know, I I guess, it's just it is what it is.
《激烈对抗》是HBO的一部剧，讲的是两位职业冰球运动员最后走到了一起。
Heated Rivalry is a show on HBO about two professional hockey players who end up in a romantic relationship.
所以布莱恩·阿姆斯特朗做了这么个海报，拿这个做梗，你说这算啥呢？
So Brian Armstrong making the poster about them, know, I don't know, little little what would you call that?
玩个幽默罢了。
Play humor.
是的。
Yeah.
你可以这么理解。
If you will.
咱们不深究了，但这就是典型的加密圈推特上那种热门梗图。
Won't we won't dive too deep to it, but just prime time crypto Twitter type of graphic type of joke here.
我觉得挺有意思的。
I thought it was funny.
很明显，戴蒙德可能没看懂这个梗，压根没注意到。
And obviously, Diamond probably didn't get the reference, probably didn't see it.
但挺搞笑的是，这俩人就在网上互怼起来了。
But pretty funny here as these guys, you know, just kind of spat online at each other.
至于《清晰法案》，今天查了Polymarket的预测，我之前看过，是62%到63%左右。
But the Clarity Act, pulled up Polymarket as of today, it was, I had it up earlier, it was 62, 63%.
刚又涨到了63%。
It just ticked up to 63.
所以说，这事儿还真说不准，胜负难分。
So, you know, again, it kind of just, it does feel like a toss-up.
参议院里确实有不少跨党派支持，但问题是，像戴蒙德和摩根大通这种全球顶级银行都出来反对，这事儿真能成吗？
Like there's, you know, some bipartisan support for sure in the Senate for it, But will it get done when you have, you know, people fighting it like Jamie Diamond and JPMorgan, you know, one of the biggest banks in the world?
是的。
Yeah.
我觉得挺有意思的。
It's I think it's funny.
对吧？
Right?
这个帖子本身挺搞笑的。
The post itself is funny.
给这件事增添了一点幽默感，但问题本身是很严肃的。
Adds a little bit of humor to the situation, but it's a serious one.
我们会继续关注这件事。
So we'll continue to track it.
我们会留意这里的发展，但我认为很多人真的很希望这事能成。
We'll follow along what's going on here, but I think a lot of people really do care about getting this done.
是的。
Yeah.
接下来我们进入最后一个话题：哪些方面是有效的？
And as we transition into the final topic, what is working?
我们开头已经提到过一些，比如Near、Hype、Venice、Zcash，这些我们在节目中讨论过、表现不错的项目。
We kinda covered at the top of the show, Near, hype, Venice, Zcash, things that we've talked about in the show that have been working.
我看到了奥斯汀发的这条推文。
I saw this tweet from Austin.
奥斯汀·巴雷克，咱们节目的老朋友了，来过好几次。
Austin Barack, a true friend of the show has been on many times.
其实我们正打算让他和布莱斯在接下来几周一起上节目。
I mean, actually working with him to get him on with Bryce soon in the next couple of weeks.
我们马上会听到他的观点，不过在看价格走势之前，他先提了个问题。
So we'll hear from him, but he kind of poses the question before we pull up kind of the price action.
问得真到位。
Asked the right question.
现在这个阶段特别有意思，尤其是对那些 actively 管理投资组合的人来说。
It's an interesting time, especially for people who actively manage your portfolio.
所以如果你是长期持有、坚信长期价值的，那这个讨论可能跟你关系不大。
So for this discussion, keep in mind if you have long term holdings that you believe in long term, this isn't the discussion for you.
但如果你是主动管理型投资者，那现在比特币凭什么能跑赢 Hype、Venice、Zcash 这些项目呢？
But when it comes to actively managed portfolios, what's the bull case for Bitcoin right now to outperform quality all such as hype Venice, Zcash, etcetera.
我觉得他提的这个问题挺到位的。
And I think he brings up a good point.
能请他来节目里详细说说，那真是太好了。
So it'd be awesome to have him on the podcast and make his case.
我知道他和Bryce聊起来一定会特别精彩。
I know him and Bryce will have an awesome discussion.
然后我们再打开CoinMarketCap看一下。
And then we'll we'll pull up coin market cap again.
你往下看这七天的数据，就能找到表现最好的那些币。
If you look at this seven day as we scroll down, you'll find the winners here.
Hyperliquid涨了22%，Zcash涨了10%。
Hyperliquid 22, Zcash, 10.
Stellar涨了36%。
Stellar, 36.
这个还挺有意思的。
Interesting one there.
我们来看看。
Let's see.
还能找到其他人吗？
Anyone else we can find?
Meme Core 我们已经聊过了。
Meme core, we've talked about that.
这个名气不大。
That's kind of a no name.
我们来看看。
Let's see.
威尼斯在哪？
Where's Venice?
威尼斯的市值小一点，但最近涨得挺猛。
Venice is a little bit smaller in terms of market cap, but it has been ripping.
我跟你说啊。
Let me tell you what.
昨天Hyperliquid创了新高，今天早上Venice，也就是VVV也跟着冲上了历史新高。
Hyperliquid hitting a new all time high yesterday, and then Venice, VVV actually coming in and hitting a new all time high as of this morning.
对，VVV一个月涨了100%到113%。
Yeah, VVV up a 100%, a 113% in a month.
这真让人惊讶。
That's fascinating.
这波行情太猛了。
What a move.
不过我知道，我们大部分社群的通讯稿早就提到过这个机会。
Then again, I know every I think most of our communities called that out newsletter.
我知道Momentum Money Makers早就布局了。
I know momentum money makers was in on that.
我们最近几期播客也聊过这个，所以……
So again, if you're and we've talked about it on the pod the last couple of weeks.
就算你最近才进场，我也说不清具体是哪天了。
So even if you got in over the last, I mean, I can't see it.
我们再回过头说说这个。
Let's go back to this.
这一个月里，你肯定赶上了那波百分之百的涨幅。
The one month, you know, you've definitely caught part of that 100 percenter.
威尼斯这波行情真是够疯狂的。
Wild move for Venice.
确实如此。
It is.
机会还是有的，Tevo。
So there's opportunity out there, Tevo.
现在市场更需要精挑细选，但这样的机会还真不少。
It's a little bit more of a pickers and choosers market, but there are a lot of them out there as well.
今早NEAR的价格已经涨到了去年十一月以来的最高点。
You know, Near hitting the highest point that it has seen since, I think, November of last year as of this morning.
总的来说，到处都是大赢家。
So big winners all around.
在爆米花季，这确实是个精挑细选的市场。
It's a pickers and choosers market definitely in popcorn season.
所以我觉得，趁着这股风向，你得顺势而为。
So I think you gotta just kinda feed into that mentality while it's going.
是的。
Yeah.
没错，确实如此。
No, it definitely is.
你得再好好做做功课。
And you got to, again, do your research.
对。
Yeah.
这得看你是什么类型的投资者或交易者。
It depends what type of investor or trader you are.
你是两者都兼顾一点吗？
Do you do a little bit of both?
你是更偏向长期投资的吗？
Are you more longer term?
如果你是长期投资者，可能更关注那些价格下跌的标的。
If you're longer term, maybe you're doing your research on stuff that's down.
你会仔细挑选，选一些适合长期持有的资产。
You're picking and choosing what you might want to hold for a longer market.
如果你是交易员，喜欢灵活操作，那这种环境就特别吸引人——毕竟市场上有大量机会，一个月涨一倍的情况都不稀奇。
If you are a trader and you're somebody that enjoys kind of being more nimble, know, this type of stuff is exciting because there are winners out there and it's a, you know, neck breaking speed one, you know, one month 100%.
这确实挺疯狂的。
That's pretty wild.
尤其是像Hyperliquid这样的平台，现在市值已经稳居前十大之列了。
I mean, especially with with Hyperliquid too, obviously a bigger market cap in the top 10 now.
但就像我们之前聊过的，一个月涨75%到76%已经很惊人了，再加上ETF的推动力，还有传统金融资本想分一杯羹，而它在美国甚至还没正式上线。
But as we've covered on the show, one month 75, seventy six percent, but also with the momentum of those ETFs and, you know, TradFi wanting a piece and it's not even operational in The US yet.
所以，未来可能还有更多上涨空间。
So some more momentum possibly to come.
这反映在价格上了吗？
Does that reflect in the price?
我们还不清楚。
We don't know.
不过布伦丹，我们今天就到这里吧。
But Brendan, we'll we'll wrap it up here.
我知道你得赶回去参加圣地亚哥的现场活动。
I know you gotta get back to the live event out in San Diego.
感谢你抽出时间参与。
We appreciate you taking your time.
最后有什么想说的吗？
Any final thoughts?
给听众留一句总结吧，简单说说你对当前市场的整体看法。
Leave the leave the people with a final thought, a a high level overview of, you know, what what the markets look like to you.
是的。
Yeah.
我觉得最后想说的是，显然市场现在充满了恐慌情绪。
I think my final thought here is, obviously, you are having some some serious fear here in the markets.
跌幅相当剧烈。
Pretty gnarly moves down.
我建议你做好心理准备。
I would say just buckle up.
这种情况可能还没结束。
You know, it's possible that this isn't necessarily over.
我觉得大盘股还可能继续下跌，并拖累整个市场。
I'd still leave the idea of, you know, the larger cap seeing some more downside and dragging most of the market with it.
那些表现强势的标的，我觉得值得重点关注。
I think that these ones that are winning, I wanna play into strength here.
我要看看哪些资产正在上涨。
I wanna look at what's winning.
即使我们看到进一步下跌，甚至比特币、以太坊、Solana这些资产创出新低，我觉得这反而会带来绝佳的买入机会。
And, you know, even if we do see new downside and even if we do see new lows here, new cycle lows for Bitcoin, ETH, Solana, a lot of these, I think we get a tremendous amount of buying opportunity that comes out of that.
所以我现在想关注这些资产，觉得这正是积累长期价值的好时机。
So I do want to be looking at these and saying, Hey, I do think we kind of get an area to really accumulate some long term value out of these.
即使价格继续创新低，我也愿意保持这个看法。
Even if we do work our way in the new lows, I'd leave that on the table.
我觉得现在市场传出的坏消息，其实比实际情况要严重得多，这本来就是市场的常态。
I think that right now, things are sounding a lot worse than they actually are, and that's kind of the way that that this typically works.
所以我的策略就是这样。
So that's how I'm positioned.
现阶段我特别注重风险管理，不想频繁操作。
And, yeah, really kind of focusing on risk management here, not wanting to be too hands on.
我更愿意等市场真正见底，而不是总想着抄底接飞刀。
Really would rather wait for the the bottom to be in as opposed to try to always catch the knife.
不过在这期间，还是有一些机会可以把握的，这就是我想说的重点。
But I think that there's some plays to be made in the meantime, and that's where I would leave us at.
别太焦虑，但也别急着接飞刀，免得把自己陷进去。
So don't wanna get too under your skin, but also don't try to catch the knife here and and get yourself in trouble.
但我认为周围还有很多机会，这正是我们关注的重点。
But I think that there's a lot of opportunity around, and that's what we're here for.
对。
Yeah.
我唯一想补充的是，现在感觉又像之前常说的那艘船的同一侧了，不管是价格上涨还是下跌，我们经常讨论这个。
The only thing I'll add is it's starting to feel like the the same side of the boat, which we talk about a lot on on both sides of positive price action and negative.
随着恐惧与贪婪指数开始往左走，其他人也跟着往左走，对吧？
So starting to feel that way to me as the fear and greed index starts to lean to the left, everybody else leans to the left.
没错。
Right?
所以我们得继续关注这一点。
So something that we're gonna track.
非常感谢大家收听。
We really appreciate everybody tuning in.
对。
Yeah.
我们到时候会弄清楚的。
We'll figure out.
我不确定周五能不能把大家凑到一块儿。
I'm not sure if we can get people together on Friday.
我们会去确认一下开曼那边每个人的安排。
We'll check with Cayman, everybody's schedule.
不过，今天就先说到这儿吧。
But, you know, that's all for today.
有任何问题或想法，像往常一样，欢迎在YouTube或者X上留言。
Any questions, comments, as always, out on YouTube or x anywhere.
我们向来透明公开。
We are open books.
非常感谢大家的收看。
We really appreciate everybody tuning in.
别忘了点赞、订阅，持续关注我们更多内容。
Give this video a like, subscribe, tune in for more.
我们一直很感谢大家的收听，不过今天就先到这里了。
We always appreciate everybody listening, but that's all for now.
我们改天再跟大家聊。
We'll talk to everybody later.
再见。
Bye bye.
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