According to Odaily Planet Daily, Federal Reserve Chairman Schmid stated that the jobs report was good news, but further interest rate cuts could lead to persistent inflation. He cautioned against viewing last year's labor market as cyclically weak, suggesting that artificial intelligence may be needed to address the slowdown in labor force growth caused by an aging population, low birth rate, and low immigration. He added that structural changes have reduced job creation levels, and the equilibrium point for job growth is likely around 40,000 to 50,000 new jobs per month. (Jinshi)

In the past hour, total liquidations across the network reached $59.42 million, with $50.84 million from long positions, with $8.59 million from short positions. BTC liquidation $31.51 million, ETH liquidation $16.33 million.

According to Odaily Planet Daily, Luxxxfolio, a Litecoin treasury company, announced on the X platform that it has increased its holdings by 2,413.464 LTC, bringing its total holdings to 24,439.464 LTC while maintaining zero debt. The company also announced that it has deployed 20 Bitmain Antminer L9 16G mining rigs to start Litecoin mining, and plans to gradually expand its mining operations based on market conditions, equipment availability, and power capacity.

According to data from Coinglass, as reported by Odaily Planet Daily, $156 million in positions were liquidated across the network in the past 4 hours. Of this, approximately $91.63 million were long positions and $64.75 million were short positions. In addition, $72.41 million in BTC positions were liquidated and $43.21 million in ETH positions were liquidated.

Odaily Planet Daily reports that U.S. Securities and Exchange Commission (SEC) Chairman Paul S. Atkins testified before the Congressional Financial Services Committee on Wednesday, outlining the SEC's priorities and emphasizing that the SEC will continue to prioritize protecting investors, maintaining fair and efficient markets, and promoting capital formation, while balancing regulation of traditional markets and digital assets. Key priorities include: 1. Reducing corporate compliance costs: Noting that publicly traded companies spend up to $2.7 billion annually on annual report disclosures, emphasizing the need for streamlined, modernized, and substantive information-focused disclosures that are more useful and easier to understand. 2. Supporting IPOs and capital formation: Proposing three initiatives—substantive information-centric disclosures, depoliticizing shareholder meetings, and providing litigation alternatives for companies—to incentivize innovation and protect investors. 3. Advancing digital asset regulation: The SEC is collaborating with the CFTC on Project Crypto, aiming to develop a token classification system, provide clear regulatory guidance, and consider exemptions for on-chain transactions and activities. Supporting Congress's advancement of the CLARITY Act to establish a federal framework for the crypto market. 4. Reviewing traditional regulatory tools: A comprehensive evaluation of the Consolidated Audit Trail (CAT) system has been conducted, and measures have been taken to reduce annual costs by approximately $92 million. 5. Strengthen investor protection and law enforcement: Return to the fundamental mission, focus on combating fraud, insider trading, financial violations and cross-border manipulation, and establish a cross-border law enforcement task force to suspend trading of shares of several Asia-Pacific companies to prevent manipulation.