7:00-12:00 Keywords: Gray, Strategy, South Korea 1. The spot value of Bitcoin is 40% lower than its energy value; 2. Strategy now ranks as the 88th largest company by market value in the United States, ranking a new high; 3. The U.S. SEC's cryptocurrency reform is facing new political pressure due to its relationship with Trump; 4. Ethereum Foundation researchers propose to increase the Ethereum gas cap 100 times within four years; 5. Gray GBTC's implied annual revenue exceeds US$268 million, surpassing the sum of all other Bitcoin ETFs; 6. Three former SEC legal advisers: The focus of law enforcement has changed since Paul Atkins took office, but it will not be completely shifted; 7. The National Power Party of Korea will abolish the virtual assets "one exchange is limited to one bank" system as a presidential election promise.