Recently, there are a few things in the crypto world worth paying attention to. The Fed's interest rate cut expectations still have a noticeable impact on market sentiment, and many traders are closely following the latest developments from the FOMC. Meanwhile, the DeFi sector is also fiercely competitive—Ethena's newly launched futures trading feature has attracted a lot of attention, while the rivalry between a major DEX and Kamino is also not to be underestimated. On the regulatory front, Ondo Finance's SEC investigation has been settled, which is a positive signal for the entire stablecoin and on-chain financial ecosystem. As for the mainnet event of a certain blockchain, although the details are still under discussion, the market's reaction has already spoken volumes. Overall, the three key areas to focus on now are policy, product innovation, and risk management.