I.前景

上週，美國股市經歷了明顯的波動。自去年選舉日以來，標準普爾500指數和納斯達克指數已完全回顧了所有收益。

The U.S. stock market experienced significant volatility last week, with the S&P 500 and Nasdaq indices completely retracing all gains since last year's election day. The Federal Reserve's Beige Book, released last Wednesday, indicated a slight uptick in overall economic activity in the U.S. since mid-January. However, corporate pessimism about the future is on the rise, primarily due to increasing uncertainties brought about by the Trump administration, especially regarding tariffs.

上週，美國股市經歷了明顯的波動性，自去年選舉日以來，標準普爾500指數和納斯達克指數完全回顧了所有收益。上週三發行的美聯儲的米色書籍表明，自1月中旬以來，美國的整體經濟活動略有上升。但是，對未來的企業悲觀主義正在上升，這主要是由於特朗普政府帶來的不確定性越來越大，特別是關於關稅。

In the future, the U.S. economy faces multiple challenges, including insufficient consumer momentum, poor employment data, and an expanding trade deficit. In the coming months, policy decisions and the global economic situation will have a significant impact on the U.S. economy.

將來，美國經濟面臨多個挑戰，包括消費者勢頭不足，就業數據和不斷擴大的貿易赤字。在接下來的幾個月中，政策決策和全球經濟狀況將對美國經濟產生重大影響。

The cryptocurrency market also experienced significant volatility last week, with regulatory policies and macroeconomic factors continuing to influence market trends. Although the U.S. policy's "cryptocurrency strategic reserve" briefly boosted the market, the impact on the crypto market is relatively limited in the short term since the Bitcoin reserve policy does not involve new purchases. Against the backdrop of ongoing accumulation of U.S. government debt, the likelihood of incremental funds flowing into the cryptocurrency market in the short term is also relatively low. Bitcoin and Ethereum once again tested the $80,000 and $2,000 thresholds, respectively, and investors should remain vigilant about the possibility of new lows.

上週，加密貨幣市場也經歷了明顯的波動性，監管政策和宏觀經濟因素繼續影響市場趨勢。儘管美國政策的“加密貨幣戰略儲備”短暫地增強了市場，但由於比特幣儲備政策不涉及新購買，因此對加密貨幣市場的影響相對有限。在美國政府債務持續積累的背景下，短期內流入加密貨幣市場的增量可能性也相對較低。比特幣和以太坊再次測試了80,000美元和2,000美元的門檻，投資者應該對新低點的可能性保持警惕。

Electron Labs is a general-purpose ZK (Zero-Knowledge) proof aggregation layer based on Ethereum, aiming to maintain decentralization by using light clients and zero-knowledge proofs to aggregate proofs from various use cases into a single super proof, effectively reducing costs for each use case.

電子實驗室是基於以太坊的通用ZK（零知識）證明聚合層，旨在通過使用光線客戶和零知識證明來維持分散式化，以將各種用例的證明匯總到單個超級證明中，從而有效地降低了每種用例的成本。

Its goal is to create a high-throughput, low-latency, and decentralized blockchain interoperability protocol.

它的目標是創建高通量，低延遲和分散的區塊鏈互操作性協議。

The Electron Labs team is composed of experienced engineers from Stanford, MIT, and Magic Eden, and its seed funding is led by a prominent blockchain VC firm.

電子實驗室團隊由來自斯坦福大學，麻省理工學院和魔術伊甸園的經驗豐富的工程師組成，其種子資金由一家著名的區塊鏈VC公司領導。

Its mission is to realize the vision of a scalable, secure, and inclusive Web3.

它的使命是實現可擴展，安全和包容性Web3的願景。

Electron Labs' technology can be applied to various use cases, including cross-chain bridges, DeFi protocols, and DAOs.

電子實驗室的技術可以應用於各種用例，包括跨鏈橋，DEFI協議和Daos。

Its vision is to build a future where blockchain technology empowers everyone to live better and more fulfilling lives.

它的願景是建立一個未來，區塊鏈技術使每個人都能過上更好，更充實的生活。

Orochi Network, a verifiable data infrastructure startup, has raised $12 million in funding to provide solutions for some of the most pressing challenges facing the future of internet decentralization.

Orochi Network是一家可驗證的數據基礎架構初創公司，已籌集了1200萬美元的資金，為互聯網權力下放的未來面臨的一些最緊迫的挑戰提供解決方案。

Founded in 2024, Orochi Network is focused on building a more scalable, secure, and user-friendly Web3.

Orochi Network成立於2024年，致力於構建更可擴展，安全和用戶友好的Web3。

Its verifiable data infrastructure supports zero-knowledge proofs (ZKP) and provides solutions for scalability, privacy, and data integrity.

其可驗證的數據基礎架構支持零知識證明（ZKP），並為可擴展性，隱私和數據完整性提供解決方案。

Its goal is to enable decentralized applications (dApps) to serve billions of users without compromising on security or decentralization.

它的目標是使分散的應用程序（DAPP）能夠為數十億用戶提供服務，而不會損害安全或權力下放。

Its vision is a world where technology empowers people and promotes a more equal and sustainable society.

它的願景是一個技術賦予人們並促進更平等和可持續的社會的世界。

Spheron Network, a decentralized computing network, has raised seven-digit seed funding from Blockwall Capital and cryptoeconomic consulting firm DeepChain to help it provide instant access to scalable GPU resources.

Spheron Network是一個分散的計算網絡，已從Blockwall Capital和CryptoSonsic Consulting公司DeepChain籌集了7位種子資金，以幫助其即時訪問可擴展的GPU資源。

Spheron's PayChain-powered network aims to promote the efficient deployment and scaling of applications.

Spheron的薪資驅動網絡旨在促進應用程序的有效部署和擴展。

Its platform allows users to quickly and easily connect to the best-suited supplier nodes.

它的平台使用戶可以快速輕鬆地連接到最佳的供應商節點。

Its tokenized economic system ensures fairness and transparency in resource allocation.

它的標記經濟體係可確保資源分配的公平性和透明度。

Its mission is to empower developers and entrepreneurs to build the next generation of decentralized applications.

它的使命是旨在增強開發商和企業家的能力，以建立下一代分散的應用程序。

Its vision is a future where technology serves humanity and promotes harmony with nature.

它的願景是技術為人類服務並促進自然和諧的未來。