On July 21, news from 4E reported that the crypto market recently encountered several significant events, with stablecoins, IPOs, on-chain data, and expectations regarding regulation actively rising. The involvement of institutions and the evolution of policies are collectively contributing to profound changes in the Crypto industry. According to an official statement from Tether, the market capitalization of USDT exceeded $160 billion, setting a historical record. CEO Paolo Ardoino noted that this is "a key node in the reconstruction of global financial liquidity." Meanwhile, the total assets