Fed rate meeting coming, cryptocurrency trend may be affected

[What happened in the crypto market this past week].

Biden issued an executive order on digital currency regulation: fully stroke the risk and study the deployment of digital dollars

Last Wednesday, Biden signed an executive order requiring relevant federal government departments to conduct a series of studies related to digital currencies. In addition to reviewing the regulatory risks associated with this alternative asset, the executive order also mentions the exploration of the creation of an official digital dollar. The White House stressed that the current administration has placed "the utmost urgency" on "studying and developing potential U.S. CBDC design and deployment options.

Media says hedge fund Fir Tree is shorting stablecoin USDT issuer Tether in a big way

On March 11, media reported that hedge fund Fir Tree is shorting USDT issuer Tether, citing the risk of default on some of the commercial paper held by Tether, which could lead to a significant decline in its asset reserves. The company has been considering shorting Tether since July and has conducted a study that includes hiring third-party experts.