The new U.S. Treasury Secretary is about to take office, the crypto market will be good, and VAST will be launched soon!
Yellen’s nomination for Secretary of the Treasury has been formally approved by the Senate. Yellen will be sworn as Secretary of the Treasury tonight. The incoming US Treasury secretary is not a fan of Bitcoin. Thus, the supervision of token will be strengthened, and the market once overreacted and triggered a bull market sell-off. However, Bitcoin and Ethereum both rebounded to varying degrees after a few days of panic spreading. Many analysts pointed out that Yellen should provide time for innovation and development of tokens. In addition, the strengthening of regulation has shown the mainstream appeal of Bitcoin. The government is now forced to keep up with investor demand, and the pressure from the government will prove beneficial to Bitcoin.
In the past month, Bitcoin rose to $40,000 in a short period of time. However, as the market recently reported that the Federal Reserve may withdraw from easing policies in the future and the newly appointed US Treasury Secretary claimed to strengthen the supervision of tokens, causing the market to overreact and trigger a bull market sell-off.
Yellen served as chairman of the Federal Reserve from 2014 to 2018, and she has criticized cryptocurrencies in the past, especially Bitcoin. Yellen also stated that the role of cryptocurrencies in terrorist financing and money laundering is worrying, and hence, it should be watched closely. In addition, when answering CNBC’s questions, she pointed out that Bitcoin currently plays a small role in the payment system. It is not a stable source of value, nor does it constitute legal tender, but a highly speculative asset. She also reiterated what she said in 2014 that she believes that the Fed does not have the right to manage Bitcoin, and Bitcoin is not something the Fed is currently considering seriously. She also added that even if the price of Bitcoin falls, the risks of US financial institutions are limited.
Against the background of favorable token, NGK officially launched its new mining product, VAST, which is part of the NGK ecological Starry Sky project, with total 100,000 units. NGK can only be released when the total computing power reaches 8 million, and the reward is the star value. The star value is exchanged through the SPC computing power reward token and only by holding the SPC can you get the VAST star value. There is no other way to obtain it. The issuance rules of star value are as follows; when the NGK’s entire network computing power reaches 8 million, the first star value will be rewarded, then for every increase of 500,000, the star value will be rewarded again. In other words, the second round of star value reward requires the NGK’s entire network computing power to reach 8.5 million. The number of star value rewards each time is the number of SPC held by the user on the day of the reward.
VAST will be a super high-value product, so please act quickly.
