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Ondo abandons the independent blockchain route and launches a new execution network: creating an architecture with "exchange-level performance on-chain."

Ondo Finance announced the launch of the new Ondo Network, positioned as a high-performance execution layer, aimed at combining the trading speed of centralized exchanges (CEX) with the non-custodial and secure settlement capabilities of blockchain. Ondo CEO Ian De Bode stated that the Ondo Network is an "evolutionary version" of the previous Ondo Chain plan, and the company will not operate two networks simultaneously, but will adjust its original plan of building a complete blockchain to focus on the execution layer architecture.According to reports, Ondo initially planned to fully bring real-world assets on-chain through Ondo Chain, but after developing the Ondo Perps perpetual contract trading platform and communicating with users, it was found that the current market's core bottleneck is not asset settlement, but trading execution efficiency. The Ondo Network adopts a separated architecture for execution, validation, and settlement, using secure hardware to isolate the execution environment, which enhances trading speed while maintaining user asset self-custody, verifiable transactions, and permissionless blockchain characteristics.Currently, Ondo Perps has become the first application built on this network, supporting 24-hour trading of stock and commodity perpetual contracts, and allowing the use of tokenized real assets as collateral. Ondo stated that in the future, the network will also support applications requiring high performance, privacy protection, and verifiable execution, such as spot trading, lending, and structured products. In addition, the launch of the Ondo Network will not change the positioning of the ONDO token. The CEO stated that ONDO will still serve as the governance and incentive token for the Ondo RWA ecosystem and market infrastructure, and as the network gradually decentralizes, ONDO will be used to coordinate the incentive mechanisms for validation nodes, observers, and ecosystem participants.

U.S. debt approaches $40 trillion, investors turn to Bitcoin and gold as a hedge against the depreciation of the dollar

According to CoinDesk, as the U.S. government debt continues to rise, investors are refocusing on scarce assets like Bitcoin and gold, viewing them as tools to hedge against the declining purchasing power of the dollar. Data from the U.S. Treasury shows that as of last Friday, the federal debt has reached a record $39.7 trillion. Market participants point out that U.S. government debt is currently increasing by about $7 billion per day, and in terms of market value, this incremental scale has surpassed most crypto assets.The founder of LondonCryptoClub stated that the rapid growth of U.S. debt is driving the so-called "currency devaluation trade," where investors buy limited-supply assets like gold and Bitcoin to mitigate the long-term devaluation risk of fiat currency. The institution believes that in a "fiscal-dominated" environment, Federal Reserve policy may be influenced by government financing needs, requiring interest rates to remain low while continuously providing liquidity to assist with debt refinancing.Apollo's chief economist Torsten Slok previously warned that the ratio of U.S. debt to GDP has exceeded 120%, leaving limited fiscal stimulus space during future economic recessions. At the same time, the Federal Reserve may find it difficult to cut interest rates significantly as it did in the past, since rate cuts could exacerbate inflation and lower government bond yields, affecting government financing. Currently, Bitcoin prices are maintaining above $65,000, supported by easing tensions between the U.S. and Iran and a drop in oil prices, leading to a rebound in market risk appetite.Meanwhile, Ethereum has recently outperformed Bitcoin, with the ETH/BTC exchange rate breaking through the 100-day and 200-day moving averages, leading the market to believe that altcoin trends may be warming up. However, analysts point out that since its inception in 2010, Bitcoin's price movements have more closely resembled those of tech stocks rather than traditional safe-haven assets, and its safe-haven properties remain controversial.
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