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USDT is a stablecoin linked to the U.S. dollar launched by Tether in 2014. Its core design concept is to maintain price stability through a 1:1 U.S. dollar reserve mechanism and solve the problem of cryptocurrency market volatility. As the first widely adopted stable currency, USDT relies on blockchain technology to bridge the gap with the traditional financial system. Initially supported by the Bitfinex exchange, USDT quickly became the mainstream medium for crypto transactions. Its operating principle is that Tether deposits 1 USD in reserves for every USDT it issues. In the early days, the Bitcoin Omni layer was the main issuance network, and then gradually expanded to Ethereum, Tron and other blockchains. As of 2025, USDT has become the world's largest stablecoin by market capitalization, with a total supply exceeding US$160 billion and covering more than 400 million users. It is especially regarded as an alternative to the "digital dollar" in emerging markets.

From the perspective of development prospects, USDT shows strong growth potential and compliance trends. The global stablecoin market has expanded to US$250 billion, and Tether has strengthened reserve transparency by holding US$127 billion in US Treasury bonds, becoming the 18th largest holder of US debt in the world. The introduction of the GENIUS Act in the United States and the Stablecoin Regulations in Hong Kong in 2025 will establish a compliance framework for the industry. USDT continues to dominate the market by virtue of its first-mover advantage, occupying more than 62% of the market share. Standard Chartered Bank predicts that under the background of improved supervision, the scale of stablecoins is expected to reach US$2 trillion in 2028, and USDT is improving scalability by optimizing blockchain support (such as stopping inefficient chain redemptions such as EOS). Its quarterly addition of 35 million wallet users, especially its penetration in the fields of cross-border payments and RWA (real asset tokenization), shows that it is evolving from a transaction medium to a broader financial infrastructure.

In terms of market advantages, USDT’s competitiveness is reflected in three aspects: liquidity, stability and ecological penetration. As the stablecoin with the largest trading volume, USDT provides more than 70% of the trading pair depth on mainstream exchanges, and the daily trading volume is stable at tens of billions of dollars, far exceeding traditional payment systems such as Visa. Its 1:1 anchoring mechanism automatically adjusts supply through arbitrage, keeping price fluctuations within ±0.5% for a long time, making it a "safe haven" for the crypto market. From an ecological perspective, USDT’s cross-chain compatibility covers mainstream public chains such as TRON (circulation volume of US$81 billion) and Ethereum (US$65 billion), and serves as the main collateral in DeFi protocols to support on-chain financial services such as lending and liquidity mining. Tether's net profit of US$13 billion in 2024 (mainly from U.S. debt earnings) further consolidates its financial sustainability and forms a positive cycle of "issuance-reserves-profit".

In terms of usage scenarios, USDT has developed from a simple exchange tool to a multi-dimensional financial solution. In the field of cross-border payments, its instant settlement (minute level) and low handling fees (90% cost saving compared to SWIFT) are widely used in Asia, Africa and Latin America for trade settlement and personal remittances, such as legal currency conversion through platforms such as BiyaPay. As a value storage tool, USDT has replaced local currencies as a means of savings in countries with severe currency depreciation. In 2024, on-chain data shows that the number of wallets in emerging markets has increased by 45%. In terms of commercial applications, USDT has been integrated into e-commerce platform payments, virtual commodity transactions (such as game equipment), and even the revenue settlement of cloud mining service DRMLMiner. Moreover, USDT is expanding its boundaries by integrating with traditional finance – Visa and MasterCard have included it in the payment network, and the offshore RMB stable currency solution explored by Hong Kong also draws on USDT's technical framework.

USDTBEAR coin is a self-leveraged ERC20 token, whose full name is 3XShortTetherToken. Its income has an inverse three-fold relationship with the price fluctuation of Tether (USDT). As a derivative in the digital currency market, USDTBEAR currency provides investors with a tool to hedge the risk of USDT price decline. The design principle of this token is based on smart contracts and leverage mechanisms. When the price of USDT falls, holders of USDTBEAR coins will receive three times the amount of the drop; conversely, if the price of USDT rises, the loss will also be magnified three times. This type of leveraged token is usually suitable for investors with short-term trading strategies or high-risk preferences. Its birth reflects the growing demand for complex financial derivatives in the cryptocurrency market, and also reflects the potential of blockchain technology in the innovation of financial instruments.

The market advantage of USDTBEAR coin lies in its unique leverage mechanism and liquidity support. As a derivative that is inversely linked to the price of USDT, it fills the gap of hedging tools in the cryptocurrency market. Especially when USDT faces regulatory pressure or market fluctuations, it becomes an option for investors to quickly adjust their positions. Compared with traditional short-selling methods (such as margin trading or futures contracts), USDTBEAR does not require mortgage assets or margin management, simplifying the operation process. The token is issued on the Ethereum network and enjoys high compatibility with the ERC20 standard. It can be traded on most decentralized exchanges (DEX) and some centralized platforms, and has strong liquidity. During the period of violent fluctuations in Bitcoin prices in 2025, the trading volume of USDTBEAR currency surged by 300% in a single day, reflecting the market's recognition of its hedging function.

USDTBEAR currency mainly serves two types of needs: first, hedging risks. When investors hold a large amount of USDT or related assets, they can offset potential depreciation losses by allocating USDTBEAR coins; second, speculative trading, short-term traders use its high leverage characteristics to capture the short-term decline of USDT. After the promulgation of Hong Kong's "Stable Currency Regulations" in 2024, market concerns about the transparency of USDT reserves once caused its price to fluctuate, making the USDTBEAR currency a popular trading target. The token has also been integrated into some quantitative trading strategies to achieve enhanced returns by combining it with stablecoin arbitrage portfolios or volatility strategies.

The highlight features of USDTBEAR coin are its innovative nature and high risk-to-return ratio. As one of the few leveraged tokens that are clearly anchored to stablecoins, it breaks through the design limitations of traditional leveraged products that only target volatile assets (such as Bitcoin). Its smart contract automatically adjusts the leverage ratio mechanism to avoid the tediousness of manual closing, but it also requires investors to pay close attention to market changes to prevent rapid losses under extreme market conditions. Industry evaluations have divided attitudes towards such products: supporters believe that it enriches the financial instrument ecology of the cryptocurrency market and provides professional investors with more strategic options; critics believe that ordinary users may underestimate its risks, especially in the context of the long-term stability of USDT, and the costs of holding USDTBEAR coins (such as negative premiums and wear-out effects) may erode returns.

"The Secret of USDT Coin Value: Original Issue Price and Today's Real-time Price Trend Analysis"

With the continuous development of the cryptocurrency market, the stable currency USDT (Tether) has become a trusted payment and settlement tool for investors and traders because of its characteristics of being pegged to the US dollar. This article will deeply explore the original issuance price of the USDT currency, and analyze its current real-time price and today's market.

USDT coin original issuance price

USDT, the full name of Tether USD, is a stable currency issued by Tether. It aims to provide a digital currency with stable value and maintain an exchange ratio of 1:1 with the US dollar. The original issuance price of USDT can be traced back to the price when it was first launched online.

Tether was founded in 2014 and was originally named Realcoin. In 2015, Realcoin changed its name to Tether and launched the Tether coin. Initially, the issuance of Tether coins was small and the circulation in the market was limited. According to public information, the original issuance price of Tether coins was approximately US$0.50.

As Tether currency's popularity and circulation increase, its price has gradually increased. During the explosion of the cryptocurrency market in 2017, the price of Tether currency once exceeded 1 US dollar. However, it should be noted that this price does not represent its true value, but the result of market supply and demand.

USDT currency real-time price and today’s market

The real-time price of USDT currency is affected by many factors, including market supply and demand, investor sentiment, policy supervision, etc. The following is an analysis of the real-time price of USDT currency and today's market:

real time price

The real-time price of USDT currency can be queried through major cryptocurrency trading platforms. Taking a well-known trading platform as an example, the real-time price of USDT currency is about 1 US dollar. This price is consistent with the 1:1 exchange ratio of USDT currency and US dollar, reflecting its characteristics as a stable currency.

Today's Quote

In terms of today's market, the price fluctuation of USDT currency is relatively small. From the opening price to the closing price, the price change of USDT currency is usually around US$0.01, which shows that in the current market environment, the stability of USDT currency is relatively high.

It is worth noting that today’s market is affected by many factors, such as the global economic situation, policy supervision, market supply and demand, etc. The following are some key points about today’s market:

(1) Global economic situation: The stability of the global economic situation directly affects the cryptocurrency market. Under the influence of economic growth, inflation, monetary policy and other factors, the price of USDT currency may fluctuate.

(2) Policy supervision: Governments of various countries have different regulatory policies for the cryptocurrency market, which may lead to price fluctuations of USDT coins. Our government has always emphasized preventing financial risks and strictly supervising the cryptocurrency market, which has had a certain impact on the price of USDT coins.

(3) Market supply and demand: Market supply and demand is an important factor affecting the price of USDT currency. When the market supply exceeds demand, the price of USDT currency may fall; otherwise, the price will rise.

As a representative of stable currency, the original issuance price of USDT currency is about 0.50 US dollars. However, with the development of the market, its price has gradually increased. The real-time price of USDT currency is about 1 US dollar, maintaining an exchange ratio of 1:1 with the US dollar. In terms of today's market, the price fluctuation of USDT currency is relatively small, reflecting the characteristics of its stable currency.

In the current market environment, investors should pay close attention to the real-time price and today's market price of USDT currency in order to better grasp the market dynamics. They should also pay attention to the global economic situation, policy supervision and other factors to reduce investment risks.

Special Topic: NVIDIA’s quarterly report will hit hard, will the market value fluctuate to US$260 billion?

Golden Ten Data

For maintaining the rebound of U.S. stocks, Nvidia's (NVDA.O) second-quarter earnings report, which will be released after U.S. stocks close on Wednesday, may even be more important than last week's signal from Federal Reserve Chairman Powell to cut interest rates.

U.S. stocks rose sharply on Friday, with the Dow Jones Industrial Average (DJIA) closing at its first new high since December last year, a boost after Powell hinted at a possible interest rate cut in September at the Jackson Hole annual meeting. Small-cap stocks had their best day since May, with the S&P 500 (SPX) recording three consecutive weeks of gains.

However, the market gave back a significant portion of those gains on Monday, as investors appeared to be beginning to think more deeply about the reasons behind Powell's dovish comments.

Generally speaking, lower interest rates have a direct support for the stock market because the risk-free yield on government bonds decreases, which increases the discounted present value of future cash flows. However, if the rate cut is driven by an economic slowdown, corporate profits may also deteriorate; if the rate cut triggers inflationary pressure, the real value of future cash flows will also be eroded.

In his speech, Powell warned that the job market was cooling and said the inflation risk from tariffs was clearly visible, suggesting both scenarios were happening.

The bond market echoed this concern. On Monday, the spread between the 2-year and 10-year U.S. bond yields rose to the highest level since 2021, with short-term yields falling faster than long-term yields. This means that the bond market is expecting the Federal Reserve to cut interest rates, but at the same time is still worried about rising inflation and stagnant economic growth.

Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets, noted that weak growth could test the tech giants that have driven U.S. stocks higher this year. Wall Street would need to see "a significant upgrade in consensus GDP forecasts" before analysts would raise their profit forecasts for these tech giants.

"This will pose a challenge to further gains in U.S. stocks as a whole, especially in the trading of large-cap growth stocks and technology stocks," she said.

Against this background, NVIDIA's second-quarter financial results, scheduled to be announced after the U.S. stock market closes on Wednesday, are particularly interesting. The leading artificial intelligence chip company is at the core of the technology giant market, with about 40% of its revenue coming from Alphabet, the parent company of Microsoft (MSFT.O), Amazon (AMZN.O), Meta Platforms (META.O) and Google (GOOGL.O).

NVIDIA's market share in the AI ​​chip market is as high as 80%. The company's market value is approximately US$4.3 trillion, accounting for approximately 8% of the total market value of the S&P 500 Index. According to calculations by Synovus analyst Dan Morgan, approximately 60% of the capital expenditures of these technology giants will go to AI, and Nvidia’s sales prospects will directly verify or challenge the market’s most important narratives.

The six largest technology companies in the US stock market currently account for about 34% of the total market value of the S&P 500, which means that Nvidia's performance may be more influential than expectations for interest rate cuts. Although the Federal Reserve will receive employment and inflation data before its mid-September meeting, Nvidia's outlook may be more decisive.

Although AI trading is undoubtedly a positive factor for U.S. stocks, RBC's Calvasina pointed out that investors sold off technology stocks last week precisely because "the AI ​​theme that drove the rise of giant stocks has once again been strongly questioned."

NVIDIA's stock price has increased its market value by more than US$1 trillion in the past 12 months, and has increased by nearly 30% so far this year. Its valuation is already very expensive. Jacob Falkenscone, global head of investment strategy at Saxo Bank, warned that Nvidia shares have "little room for error" ahead of Wednesday's earnings report.

He said: "Despite its dominance, Nvidia's 'Achilles heel' is that competitors or regulators can quickly change the rules of the game. If growth slows or margins are less than expected, the downside risks could be dramatic."

USDT is a stablecoin pegged to the U.S. dollar. It was launched by Tether in 2014 to provide a price-stable trading medium for the cryptocurrency market. The full name of USDT is TetherUSD, and its value maintains a 1:1 anchor relationship with the US dollar. Users can exchange it at any time through the Tether platform. As one of the earliest stablecoins launched in the world, USDT solves the problem of high volatility in the cryptocurrency market by combining legal currency with blockchain technology and becomes an important tool in digital asset transactions. Tether claims that every USDT issued is backed by corresponding U.S. dollars or other asset reserves, and enhances transparency through regular audits and public reserve status. Since its launch, USDT has developed into the stablecoin with the largest market capitalization and the highest liquidity, and is widely used in exchange transactions, cross-border payments, and decentralized finance (DeFi).

The development prospects of USDT currency have attracted much market attention, especially in the fields of cross-border payments and financial inclusion, showing great potential. With the expansion of the global digital currency market, the market value of USDT will exceed US$160 billion in 2025, with the number of users exceeding 400 million, and emerging markets have particularly strong demand for it. Standard Chartered Bank predicts that with legislative protection, stablecoin circulation may increase to US$2 trillion by 2028, and USDT is expected to continue to dominate with its first-mover advantage and leading market share. Tether has further consolidated its credit foundation by allocating a large amount of its reserves in U.S. Treasury bonds (holding $127 billion as of 2025, making it the 18th largest holder of U.S. debt in the world). Despite regulatory pressure and transparency disputes, USDT's penetration rate in emerging scenarios such as DeFi and international trade settlement continues to increase, and its growth trend is deeply tied to the overall development of the cryptocurrency market.

The market advantages of USDT currency are mainly reflected in stability, liquidity and wide acceptance. As a stablecoin anchored to the U.S. dollar, USDT effectively reduces the volatility risk of cryptocurrency transactions and becomes a safe haven choice for investors when the market is turbulent. Its liquidity advantage is also outstanding, covering almost all mainstream exchanges, with an average daily trading volume of tens of billions of dollars, and supports multi-chain issuance (such as Ethereum, Tron, Solana, etc.), and has low transfer costs. USDT shows an efficiency that is unmatched by the traditional banking system in cross-border payments. Transactions can be completed within minutes, and the handling fees are much lower than traditional channels such as SWIFT. These characteristics make it an important value storage and exchange tool in areas with unstable legal currencies such as Asia, Africa and Latin America, and it is even used for bulk commodity trade settlement.

The usage scenarios of USDT currency have expanded from the initial exchange fund transfer to diversified fields. In cryptocurrency trading, USDT is the main trading pair benchmark, which allows users to quickly switch assets to avoid market fluctuations. In terms of cross-border remittances, USDT uses blockchain technology to bypass the complex intermediary banking system and provide efficient and low-cost solutions for individuals and businesses. USDT serves as collateral and liquidity tool in the DeFi ecosystem, supporting on-chain financial services such as lending and pledging. Some online games and e-commerce platforms have also begun to accept USDT to pay for virtual goods, while emerging markets use it as a financial hedge against the depreciation of their currencies. USDT has also been integrated into the systems of traditional payment giants such as Visa and MasterCard, further broadening the application boundaries.

The highlight features of USDT currency are its technical compatibility and financial innovation. As a cross-chain stable currency, USDT can be circulated on different blockchains such as Ethereum and Tron, taking into account both flexibility and security. Tether not only ensures stability but also shares the appreciation dividends of crypto assets by holding a combination of cash equivalents such as U.S. Treasury bonds (accounting for 81.5% of reserves) and Bitcoin (accounting for 5.1%). USDT is regarded as the "fixing needle" of the cryptocurrency market. Although the reserve transparency controversy has long existed, its role as a digital dollar alternative has been widely recognized by users in emerging markets. Professional institutions analyze that USDT promotes the formation of "USD stable currency hegemony" and provides financial infrastructure support for cross-border operations of small and medium-sized enterprises, demonstrating the unique value of the integration of technology and finance.

OKNews reported on November 29 that the price of Pepe currency is slowly recovering after experiencing a short-term decline of 15%. It still recorded an increase of 18% in the past week. The current price is approximately US$0.000004605, and its daily trading volume continues to exceed US$240 million. Meanwhile, Bitcoin price is hovering near the $91,000 mark, and market traders are paying close attention to whether it can successfully stand above $92,000 to confirm the start of a new upward trend. At the macro level, the probability of the Federal Reserve cutting interest rates by 25 basis points in December has risen to 80%. Coupled with the progress made by the two parties in the United States on the Cryptocurrency Market Structure Act, it is expected to bring a clearer regulatory framework and improved liquidity to the market, which may have a positive impact on Internet meme coins such as Pepe Coin, Fartcoin and SPX6900.

Gold trading platform – formal gold trading platform.

In this context, safe and reliable digital asset management tools are particularly important. As a multi-functional Web3 wallet, XBIT Wallet is committed to providing users with a safe and convenient digital asset storage and management experience. It not only supports multi-chain asset display, but also allows users to easily connect to various decentralized applications (DApps) and participate in diversified financial activities such as staking, lending, and liquidity provision. Through XBIT Wallet, users can track market changes in assets such as Pepe and Bitcoin in real time and respond quickly when market opportunities arise.

In addition to market fluctuations, the practical applications of blockchain technology are also constantly expanding. OKNews news shows that the Afreum ecosystem based on the Stellar blockchain will soon launch the Africa Wallet mobile super application. Powered by the $AFR token, the application integrates more than 150 fiat currency tokens backed by USDC, supports cross-border transactions, has a handling fee of less than $0.01, and can achieve instant settlement. Its core functions include providing DeFi services with annualized returns of up to 13%, a tokenized African physical asset (such as real estate) trading market, and a convenient legal currency exchange entrance. Afreum’s vision is to promote inclusive finance in Africa by integrating traditional finance and blockchain tools. This type of innovation coincides with the concept of XBIT Wallet, which aims to become an important portal for users to enter the global decentralized economy, allowing everyone to manage their digital wealth safely and simply.

OKNews reports that the combination of artificial intelligence and blockchain is opening up new possibilities. Pundi AI's Data Pump DApp has been officially launched on Binance Wallet, enabling more than 275 million users to participate in the decentralized AI data economy through a code-free way. The integration allows dataset owners to convert verified data into liquid dataset tokens (DTOKs) directly within the wallet, with both smart contracts and liquidity processes automated. Users can mint tokens, upload data or participate in seed round investments on the BNB chain. Currently, more than 1PB of data sets are hosted on the BNB chain and there are more than 140,000 active wallets. DTOK can be listed on decentralized exchanges such as PancakeSwap after the seed round. All interactions are secured through Binance’s non-custodial system and fully recorded on the chain. This development provides platforms such as XBIT decentralized exchange with more asset diversity and user participation opportunities, while also highlighting the key role of wallets in data capitalization.

However, with the advancement of technology, security issues have always been the focus of users. OKNews recently reported that Upbit exchange discovered and fixed a serious vulnerability in its internal wallet system that could allow attackers to infer private keys by analyzing on-chain transactions due to the weak signature it generated. Previously, Upbit suffered a $30 million hacker attack involving Solana tokens on November 27. The platform has currently suspended deposits and withdrawals, transferred assets to cold storage, and promised to compensate all customers for their losses. South Korean authorities are investigating whether North Korea's Lazarus Group is involved, and Upbit is also conducting a broader security review. This incident once again reminds us that the management of private keys and mnemonic phrases is the core of digital asset security.

So, what is a private key? A private key is essentially a unique encrypted string generated by a complex algorithm. It is your only certificate for controlling and accessing assets on the chain. Corresponding to the private key is the mnemonic, which usually consists of 12 or 24 English words. These words are arranged in a specific order and the corresponding private key can be recovered. For example, 12 mnemonic words represent a highly secure source of entropy, generated through standardized algorithms (such as BIP39). The number of combinations is extremely large and almost impossible to be cracked by brute force. Therefore, backing up and keeping your mnemonic phrase safe is equivalent to backing up your entire wallet. Users should copy the mnemonic phrase onto a physical medium (such as paper or metal mnemonic phrase board) immediately after creating the wallet, and store it in a safe, offline, fire-proof and moisture-proof place. Never transmit it over the Internet or save it as a screenshot.

In terms of operational experience, hot wallets (such as software wallets connected to the Internet), although convenient, are also more vulnerable to cyber attacks. Therefore, for large amounts of assets, it is recommended to use hardware wallets or cold storage solutions. XBIT Wallet's decentralized web3 wallet fully considers these risks in its design, and tries its best to protect users' private keys from being leaked through layered deterministic (HD) structure, local encryption and isolation environment. At the same time, users should develop good habits such as regularly checking authorization, using hardware signatures, and avoiding clicking on suspicious links.

According to OKNews APP data, in addition to commercial applications, blockchain technology also shows transparent and efficient advantages in the public welfare field. Cobo announced on November 28 that it would donate stablecoins equivalent to 1 million Hong Kong dollars for fire relief and community reconstruction in Tai Po, Hong Kong. The company cooperated with the Hong Kong Red Cross and launched an exclusive "compliant blockchain charity wallet" to ensure that the entire process from donation to use is open, transparent, and traceable. The wallet is now open to the public. The public can transfer donations directly to the wallet, and all funds will be earmarked for related relief efforts. Cobo stated that it will continue to track the flow of donations and post-disaster reconstruction progress, and is willing to provide free blockchain donation channel technical support to charitable foundations in need. This innovative practice echoes the vision of XBIT Wallet decentralized wallet web3 economic pass, which is to promote a more open and trustworthy global value exchange through technology.

To sum up, as the cryptocurrency market becomes more volatile and blockchain applications become increasingly abundant, it is crucial to choose a secure, easy-to-use and comprehensive-featured wallet. XBIT Wallet strives to create a reliable digital asset partner for users by strengthening private key management, supporting multi-chain ecology, integrating DeFi and NFT functions, and drawing on industry best practices. Whether you are a trader paying attention to market dynamics, an ordinary user exploring cross-border transactions and inclusive finance, or an emerging participant participating in the AI ​​data economy, understanding and applying good wallet security knowledge will help you move forward steadily in the Web3 world.

At the two sessions in 2026, Jin Dong’s speech instantly ignited the Internet craze.

People's livelihood issues such as medical care and employment were flooding in, but his comment on the short drama instantly overshadowed all the focus. No one thought that this elite professional on the screen would actually hide his trump card for 33 years – far more shocking than any other character. For him, being an actor is just a part-time job that combines his passion. The real value lies in the concepts and actions he adheres to.

As soon as the two sessions in 2026 kicked off, media reporters surrounded Jin Dong and couldn't get through. This is not simply because he is an actor, but as a member of the National Committee of the Chinese People's Political Consultative Conference, every statement he makes goes straight to the core of the issue. When asked what he thought of the short play, Jin Dong spoke calmly, but his words were sonorous and powerful. He admitted that he had never seen short plays and did not think short plays could represent cultural exports overseas. At present, the short drama market is booming, with nearly 700 million domestic users, and Hengdian is even nicknamed a vertical store. Many artists have turned to short dramas to make quick profits with strong plots and fast pace.

Jin Dong's outspoken remarks have attracted criticism from many people who make money from short plays, saying that he is ruining their jobs. However, netizens stood up and praised him for finally seeing the cultural depth that the actor deserves. The controversy has not yet subsided, and reporters asked about the chaos of AI face-changing. Jin Dong frowned, his expression showing obvious anxiety. He admitted that this problem has been around for a long time. AI not only impacts the film and television industry, but also brings real fraud risks.

By 2026, AI face-changing and onomatopoeia technologies will be widely available without any barriers, and a mobile phone will be able to synthesize audio and video that is difficult to distinguish between real and fake. Many artists have encountered infringement, and cases of fake Jin Dong defrauding middle-aged and elderly fans are common. Artists such as Wen Zhengrong and Zhang Kaili have also encountered similar troubles. Jin Dong saw with his own eyes that ordinary people lost their money due to these scams, and his heart was heavy. Unlike most propaganda that only emphasizes staying away from scams, he made more practical suggestions:

Don’t just be afraid, you have to understand it first. He said that he is also learning AI and actively embracing new technologies. Only by understanding the technology can we distinguish authenticity and keep property safe. This suggestion quickly became popular on the Internet, with netizens praising it: Someone should have hit the nail on the head like this. This is not the first time Jin Dong has spoken out for AI face-changing. During the two sessions last year, he called for strengthening the control of AI technology and network platforms, promoting legislative constraints, and making the law a strict curse on AI.

As early as early March, at the opening of the Fourth Session of the 14th National People's Congress, Jin Dong's speech on new popular literature and art was on the hot search list. He called on young people, especially minors, not to be allowed to remain addicted to games and short videos. His speeches caused controversy time and time again, but Jin Dong never cared. He just expressed truthfully what he saw, heard, and researched.

Jin Dong is 50 years old this year. He was born in Jining, Shandong Province. He entered the entertainment industry at the age of 17. When he first entered the industry, he could only play small roles and quietly hone his acting skills. No one was optimistic about it, and no one knew that during those seemingly unknown years, he had quietly planned his main battlefield. Until he was around 40 years old, his role as Ming Lou in "The Pretender" made him famous overnight, and his role as He Han in "The First Half of My Life" made him a well-known national actor, popular all over the country.

The characters he portrays are always calm and upright, and he is dubbed by the audience as the spokesman for veteran cadres. After he became popular, people around him kept urging him to seize the opportunity to accept endorsements and appear on programs, so as to quickly monetize his traffic. But Jin Dong never wavered. He only filmed one or two movies a year and almost disappeared from the public eye the rest of the time. Few people know that in those years that seemed to disappear, he actually devoted himself to the causes that he truly cared about.

For him, acting has never been a tool for making a living, but a side job that combines his passion. He is not keen on hype, nor does he rely on variety shows to make quick money. He even decisively rejects the trend of live streaming to sell goods. This lack of gregariousness is not because he is pretending to be aloof, but because he no longer needs to prove himself as an actor. The calmness in front of the screen comes from the multiple confidences held in the hands behind the back.

Some netizens have seen Jin Dong in "Xinwen Lianbo". He has a neat suit and glasses on the bridge of his nose. He is elegant and calm. In the camera, he carefully read through the meeting materials, looking solemn and full of aura. This is not a cameo, but a real record of him attending an important meeting in an official capacity. Today, Jin Dong is no longer a simple actor, but a member of the National Committee of the Chinese People's Political Consultative Conference. He has been selected into the cultural and artistic circles since 2023 and has the right to participate in industry policy discussions.

As a member of the CPPCC, he never fulfills his duties in name only. In order to find out the truth, he visited 20 cities across the country, investigated 36 notary institutions, and finally compiled a detailed report of more than 100,000 words. His proposal to build a national will library met social needs and was highly recognized by the representatives of the Supreme People's Court. He is concerned about AI technology infringement and the standardized development of the film and television industry, and the proposal he submitted to resist the chaos of traffic supremacy has also received widespread attention. In 2024, Jin Dong was appointed as the leader of the China Coal Mine Art Troupe, a proper department-level cadre.

This position is by no means an honorary title, but carries the mission of inheriting literary and artistic classics and serving the grassroots people. After taking office, he personally planned a number of grassroots condolences performances, promoted the creation of the musical "The Pretender", and led the in-depth rural tour of the drama "The Taste of Warmth". He also brought classic dramas to more than 200 colleges and universities, allowing young people to have close contact with stage plays for the first time, making literature and art no longer limited to urban theaters, but truly reaching the grassroots.

In addition, Jin Dong is also a member of the Central Committee of the Democratic League and deputy chairman of the Beijing Municipal Committee of the Democratic League. This status allows his influence to transcend the entertainment industry and extend to a wider field. At the age of 49, he gained a new identity and was selected as a candidate for the 2025 Sannong Figure. In the past, most of the candidates were grassroots village cadres, agricultural science and technology experts or new farmers returning to their hometowns. However, Jin Dong was selected as a first-line artist, which is a breakthrough in itself. The elites in suits and ties on the screen took root in the Loess Plateau and worked for rural revitalization.

Jin Dong took the lead in establishing a rural literary and art talent incubation platform and invited senior artists in the group to provide free training for rural literary and art enthusiasts. Building bridges with art is the core competitiveness of his selection. The final list of winners of the 2025 Sannong Figures has not yet been announced, but for Jin Dong, whether he wins or not is no longer important, the recognition itself is precious enough.

In addition to being a well-known literary and artistic worker to the public, Jin Dong also has plans in the business field, but always maintains a low profile and pragmatism. His investments cover a variety of industries including information technology, hospitality and catering. In the entire entertainment industry, there are not many artists who take into account performance careers, institutional positions, and business investments at the same time. What is even more rare is that they can always keep a low profile.

Jin Dong did it not through hype, but through hard work step by step. In the entertainment industry dominated by traffic, having many fans and high popularity means the right to speak. However, he jumped out of this circle and focused his energy on serving the masses and promoting the development of the industry. This kind of dedication that is rooted in reality is more weighty than any commercial endorsements and variety show resources.

His existence has also made many artists begin to rethink: what is the true value of an artist. Artists who only know how to hype, lack professionalism, and avoid responsibilities will eventually be eliminated by the market. Only by focusing on polishing your works and assuming social responsibility can you remain popular for a long time.

Jin Dong has used 33 years of low-keyness and persistence to become a breath of fresh air in the entertainment industry. When the traffic bubble dissipates, those who can really stand firm are those who are both capable and responsible like him. Jin Dong like this deserves to be seen, but I don't know how many people in the mainland entertainment industry can keep up with him.

UBS recently stated that the strong rise in the U.S. stock market in August 2025 was mainly driven by EPS revisions. However, with the advent of September – the most negative seasonal month in the history of the S&P 500 – the market faced a turning point. The bank warned that although the economic data showed no signs of slowing down, excessive positions and reliance on the Federal Reserve policy made the market vulnerable, and investors needed to be wary of systemic risks.

The strongest wave of EPS revisions since the COVID-19 pandemic not only pushed the S&P 500 and Nasdaq 100 higher, but also significantly affected assets with unbalanced positions.

Cyclical growth impulses and Federal Reserve policy expectations further strengthened market optimism. A UBS report shows that the cyclical index (vs. defensive index) is near all-time highs, reflecting the market's pricing of economic growth impulses. Investor confidence stems from the impending enactment of the Big Beauty Act and the passing of weak non-farm payrolls data.

Economic indicators do not point to a material slowdown in growth. In addition, Federal Reserve Chairman Powell's dovish signal for a September interest rate cut became a key driver. Investors "romanticized" the dovish Fed in the context of positive growth and encouraged maintaining risk positions. The report pointed out that attempts to short risk assets have repeatedly failed recently, highlighting the strength of the current environment.

Risks continue to accumulate

UBS highlighted negative seasonal risks in September, the worst month in SPX history. The market is already at historical highs, but seasonal factors usually intensify after mid-September, coinciding with the FOMC meeting, increasing the probability of a correction.

Specific risks include: AI leading stocks (such as Nvidia) may "rest" after the earnings report, resulting in a lack of momentum in the market; the risk of non-farm payroll data or CPI data being less than expected (the bank's economics team predicts non-farm payrolls in September will be 70,000, lower than the consensus of 75,000). Any reading that questions growth may trigger a sharp decline in U.S. stocks; the level of positions has reached the highest point since April, especially systemic funds, which can easily trigger systemic selling.

UBS's early warning signals are no longer bullish, indicating accumulation of downside risks, with models predicting an increased chance of the S&P 500 falling more than 5% over the next month.

hedging strategy

UBS recommends a cautious defensive approach. Given that price action was affected by low liquidity in late August (with many people on vacation), the bank recommends reducing exposure ahead of non-farm payrolls data. Specific strategies include: buying put options on the Russell 2000 Index (IWM.US) as protection against Friday’s data event; buying gold ETF October call options; and going long the software sector rather than the semiconductor sector because of Nvidia’s weakness.

1. Can I get commission rebates when purchasing car insurance from PICC?

Answer: It is true that you can get rebates when purchasing PICC auto insurance, but the prerequisite is that you have not had a car accident in the previous year and have not applied for auto insurance claims before there will be rebates. If you have applied for auto insurance claims in the previous year, there will be no rebates.

1. PICC compulsory traffic insurance rebate:

In the first year, there is no discount. The price of compulsory traffic insurance for cars with less than 6 seats is 950 yuan, and the price for cars with 6 seats or more is 1,100 yuan.

In the second year, there is a 10% discount, the price of compulsory traffic insurance for cars with less than 6 seats is 855 yuan, and the price for cars with 6 seats or more is 990 yuan.

In the third year, there is a 20% discount. The price of compulsory traffic insurance for cars with less than 6 seats is 760 yuan, and the price for cars with 6 seats or more is 880 yuan.

For the fourth year and above, there is a 30% discount. The price of compulsory traffic insurance for cars with less than 6 seats is 665 yuan, and the price for cars with 6 seats or more is 770 yuan.

2. PICC commercial auto insurance rebate:

The maximum rebate for PICC commercial auto insurance is 30%, but usually no more than 30%.

Auto insurance rebates are divided into exact rebates and informal rebates.

Among them, formal rebates are discounts that can be enjoyed without claims, while informal rebates refer to car insurance sales staff rebates to customers in cash or other forms.

2. How much is the renewal price of PICC auto insurance in 2023?

My friend just bought PICC car insurance a few days ago. The car is 6 years old. Before the expiration of the car insurance contract, he accidentally got into two traffic accidents and made two claims. The detailed price of renewing PICC car insurance a few days ago is as follows:

After two accidents, the premium payable for 2023 PICC Auto Insurance was 2,921.92 yuan, with a rebate of 120 yuan, and the final actual payment was 2,801 yuan.

The guarantee content is as follows:

1. Motor vehicle loss insurance amount: 59526.40 yuan

2. Motor vehicle third party liability insurance coverage: 1,500,000 yuan

3. Complimentary value-added services:

Additional motor vehicle value-added service special terms (road assistance service): 7 times

Additional special terms for value-added motor vehicle services (driving service): 1 time

Additional special terms for motor vehicle value-added services (inspection delivery service): 1 time

To sum up, PICC auto insurance is still very user-friendly. Generally, auto insurance has made claims and there is no commission rebate when renewing the insurance. However, PICC will still give car owners part of the rebate for commercial auto insurance, which shows that PICC auto insurance is most beneficial to car owners.

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Zhitong Finance APP learned that CITIC Securities released a research report saying that the overall U.S. stock market will fluctuate slightly until the Federal Reserve interest rate meeting on December 10-11, and funds will shift from technology to defensive medical utilities. Afterwards, Trump is expected to nominate a new candidate for the chairman of the Federal Reserve, and trading expectations for monetary policy are expected to become looser. Therefore, U.S. stocks may begin to rebound in the second half of December. Resident tax cuts will also begin on January 1 next year. Fundamentals will also provide certain support for employment and consumption. At the industry level, it is recommended to pay attention to: 1) the technology industry in the U.S. stock market, where valuations and performance are more consistent; 2) manufacturing, mid-to-upstream resource products, and energy infrastructure (especially nuclear power) that benefit from the reindustrialization process and favorable policies; 3) the military industry with increased fiscal spending; 4) Internet diagnostics that are benefiting from cuts in medical expenditures; 5) the financial industry (especially banks) during the interest rate cut cycle.

event:

On November 20, U.S. stocks opened higher and moved lower as a whole, especially technology stocks, which suffered significant declines. The Nasdaq 100 and Philadelphia Semiconductor Index fell 2.4% and 4.8% respectively. In particular, some technology stocks (more than 50%) that have experienced significant gains since the beginning of the year, including Micron, AMD, Lam Research, Palantir, etc., have all fallen by more than 5%. However, after Nvidia disclosed its better-than-expected third-quarter report and future guidance, CITIC Securities judged that the overnight decline was more driven by profit-taking driven by macro factors, rather than actual panic selling by investors regarding the bursting of the AI ​​bubble.

After the release of new U.S. non-farm payrolls data in September, hawkish comments from Federal Reserve officials heightened expectations for monetary tightening.

Released on November 20, the number of new non-farm jobs in the United States in September was 119,000, exceeding market expectations of 51,000. The new non-agricultural data exceeded expectations, coupled with recent hawkish remarks by many Federal Reserve officials, further boosting market expectations for tightening monetary policy. According to reports from Bloomberg and Reuters, Federal Reserve Board Governor Michael Barr said that since the current inflation level is still hovering around 3%, which is still far from the 2% target, interest rate cutting decisions need to be more prudent; Cleveland Fed President Beth Hammack reiterated his stance against further interest rate cuts; even Chicago Fed President Austan Goolsbee, who had previously been relatively neutral, expressed uneasiness about further cutting interest rates in December. The hawkish statements of Federal Reserve officials have jointly promoted the market's expectations for re-pricing the path of monetary policy. That is, the Federal Reserve will be more inclined to maintain the current interest rate level rather than cut interest rates at the December interest rate meeting. Even before inflation shows a clear downward trend, it may maintain the current interest rate level for a long time.

However, the marginal weakening trend of the U.S. job market has not changed, and the market's "hawkish panic" trade in monetary policy may be nearing its peak.

Judging from labor market data, the U3 unemployment rate rose from 4.3% in August to 4.4% in September, while the U6 unemployment rate, which reflects broad unemployment and marginal labor conditions, fell from 8.1% to 8.0%, while the labor force participation rate rebounded to 62.4%. The coexistence of new jobs, rising participation rates and rising unemployment rates indicates that improvements in labor supply and job replacement may occur at the same time. However, the higher-than-expected non-farm employment data does not mean that the U.S. labor market is once again fully prosperous. Considering that the total number of non-farm employment in July and August this year was revised down by 33,000, continuing the downward revision trend this year, the possibility of further downward revision of non-farm employment data from August to September cannot be ruled out in the future. Therefore, the substantial weakening of the U.S. job market may have been masked by the hawkish statements of Federal Reserve officials.

Looking forward to the market outlook, CITIC Securities predicts that the December Fed interest rate meeting may be the peak of this round of "hawkish panic", and then the main line of market trading may turn to Trump's nomination game for the new Fed chairman; by then, unless a relatively hawkish candidate like Kevin Warsh who does not support QE is nominated, the market is expected to return to the logic of trading loose monetary policy after the dust settles on the new Fed chairman.

The extreme narrative of the “AI bubble” bursting may be difficult to see in the short term.

On the demand side, the diversified competitive landscape of China and the United States promotes model iteration and full-stack innovation. According to Google’s performance meeting, Google The monthly Token processing volume soared from 9.7 trillion in April 2024 to 1300 trillion in October 2025. Under the neutral assumption, it is expected that global monthly Token consumption will still increase by 3 times by the end of 2026 compared with the current level, 203 In 2000, with the popularization of multi-modal and AI agents, the capacity may be expanded by 20 times, while supply-side chip and system performance upgrades continue to reduce unit computing power costs, providing support for demand release, and there are still bottlenecks in many links of the supply chain, and concerns about overcapacity are not yet established. At the commercialization level, there is currently a disconnect between token consumption and commercial returns. However, the three major scenarios of advertising placement, Agent Commerce, and enterprise-level solutions are gradually implemented, promoting the transformation of the industry from "scale growth" to "value growth". It is expected that the commercialization breakthrough of SaaS manufacturers in the short and medium term will become the key.

On the financial side, according to various company performance exchange meetings, the CAPEX of the world's four major technology giants in 2025Q3 totaled +74% year-on-year, and they have revised their guidance upwards. Strong cash flow and policy and tax incentives provide financial support. In terms of risks, CITIC Securities believes that the AI ​​search penetration rate is about to hit the ceiling. Subsequent token growth depends on C-side scenarios and Agent implementation. Debt financing risks are concentrated in small and medium-sized cloud service providers. Ecological cooperation between OpenAI and NVIDIA is difficult to falsify in the short term. Overall, it does not constitute an inducement for the industry bubble to burst.

U.S. stock performance expectations continue to be revised upward, and valuations have narrowed.

Since the end of October, U.S. stock performance expectations have continued to be revised upwards, with the upward revisions concentrated in information technology and health care. At the same time, price retracements in the index and multiple sectors combined with profit increases have caused dynamic valuations to narrow to a large extent. According to LSEG data, as of November 21, the SPX500's 2025/2026 revenue growth expectations were revised upwards by 0.1pcts/0.4pcts respectively compared with the end of October, and the profit growth expectations were revised upwards by 0.03pcts/1.0pcts respectively. However, during the same period, the S&P 500/Nasdaq 100 fell 4.2%/6.5% respectively, resulting in a rapid decline in both PE/PEG of US stocks.

From a structural point of view, the upward revision of revenue growth expectations in 2025 is mainly concentrated in the information technology and financial sectors, with an upward revision of 0.4pcts/0.4pcts respectively; the upward revision of profit growth expectations is mainly concentrated in the real estate, information technology and energy sectors, with an upward revision of 0.7pcts/0.5pcts/0 respectively. .5pcts; the upward revision of revenue growth expectations in 2026 is mainly concentrated in the medical care and communication services sectors, with an upward revision of 1.7pcts/0.8pcts respectively; the upward revision of profit growth expectations is mainly concentrated in the medical care and daily consumption sectors, with an upward revision of 3.6pcts/2.2pcts respectively. During the same period, information technology/non-core consumption/industrial decline and valuation (PE TTM) fell the most. CITIC Securities believes that the recent retracement of U.S. stocks, especially technology stocks, is mainly driven by the contraction of valuation multiples rather than the deterioration of profit expectations.

U.S. stock market outlook: After the Federal Reserve’s interest rate meeting in December, U.S. stocks are expected to resume their upward trend.

In the short term, the trading participation of U.S. institutional investors is expected to gradually decline after Thanksgiving on November 27 this year, which may correspond to an increase in retail trading. As for expectations for monetary policy, there may not be any important new economic data disclosed before the Federal Reserve's interest rate meeting in December. The CPI data originally planned to be disclosed by the U.S. Bureau of Labor on December 10 will be postponed to December 18. The U.S. Department of Commerce also said that the PCE price index originally planned to be disclosed on November 26 will also be "disclosed at another date." The third-quarter reports of U.S. heavyweights were also expected to be disclosed previously.

Therefore, CITIC Securities predicts that the overall U.S. stock market will fluctuate slightly until the Federal Reserve interest rate meeting on December 10-11, with funds diverted from technology to defensive medical utilities. Afterwards, Trump is expected to nominate a new candidate for the chairman of the Federal Reserve, and trading expectations for monetary policy are expected to become looser. Therefore, U.S. stocks may begin to rebound in the second half of December. Resident tax cuts will also begin on January 1 next year. Fundamentals will also provide certain support for employment and consumption.

At the industry level, CITIC Securities recommends focusing on: 1) the technology industry in the U.S. stock market, where valuations are more consistent with performance; 2) manufacturing, mid-to-upstream resource products, and energy infrastructure (especially nuclear power) that benefit from the reindustrialization process and favorable policies; 3) military industry with increased fiscal spending; 4) Internet diagnostics that benefit from cuts in medical expenditures; 5) the financial industry (especially banks) during the interest rate cut cycle.