4E: The crypto market fell, with the AI sector leading the decline by more than 6%. The US government plans to restart the regulatory process

On November 12th, according to 4E observation, as of 11 o'clock this morning, the crypto market generally weakened, the AI sector fell by 6.33% in 24 hours, and Bitcoin fell below $104,000. Market analysis believes that this round of correction is mainly affected by macro uncertainty and the slowdown in ETF capital inflows, and short-term risk appetite cooled.
The US government shutdown may end this week, and the Senate has reached a bipartisan agreement. After the shutdown is lifted, the SEC and the CFTC will accelerate the resumption of regulatory and product approval processes. The SEC plans to prioritize issuing "exemptive relief" to support tokenization and crypto businesses, and continue to investigate digital asset treasury companies. The CFTC plans to promote "spot crypto trading and tokenized collateral" this year, and negotiate with compliance exchanges to launch leveraged spot products as early as next month. Industry expectations are that the relevant bills will be submitted to the president for signature after the Banking Committee coordinates with the Agriculture Committee.
At the same time, SoFi re-entered the crypto space with the launch of SoFi Crypto, which supports the trading of assets such as Bitcoin, Ethereum, Solana, and integrates its banking operations. The return marks the revival of the sector after SoFi suspended crypto services in 2023, indicating a resurgence of interest in the compliance market from traditional Financial Institutions Groups.
4E Comments: The restart of macro volatility superimposed supervision has put short-term pressure on the crypto market, but the re-entry of SoFi and traditional asset management institutions may open a new stage for the integration of on-chain assets and mainstream finance.