Cross The Ages
CTAMobile-first collectible card game
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Project Overview
Cross The Ages (CTA) is a mobile-first collectible card game set in a dystopian clash of worlds. It is based on seven fantasy and science fiction novels. Players compete individually and in teams to win valuable NFTs while going on Metaverse quests to discover priceless "easter eggs" hidden in the novels. CTA, built on blockchain technology, offers a full value cycle from mobile gaming to desktop gaming, and then finally to physical collectible cards, leveraging near-field communication technology.
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CTA urges U.S. Senate to advance CLARITY Act vote promptly
Odaily News: The Consumer Technology Association (CTA), an industry organization representing over 1,300 technology companies, is urging the U.S. Senate to advance the CLARITY Act and establish clear federal rules for digital assets. Michael Petricone, CTA's Senior Vice President of Government Affairs, said on X on July 28 that the House has completed its work, and the Senate now must decide whether financial technology innovation develops in the U.S. or overseas. CTA stated that regulatory certainty would boost investment, strengthen consumer protections, expand innovation, and reinforce America's position in blockchain technology. The organization noted that companies need clear federal rules for digital assets before committing long-term capital and developing new financial products. U.S. Senator Cynthia Lummis has released a revised version of the CLARITY Act text, incorporating work from the Senate Banking Committee and the Agriculture Committee, covering market oversight, consumer protections, and the allocation of regulatory authority over digital assets. Senator Elizabeth Warren stated that the revised text still fails to address significant conflicts of interest. The bill remains stalled in the Senate as lawmakers negotiate unresolved provisions. Stablecoin rewards are also a point of contention, with more than 130 banking executives urging legislators to prevent payment stablecoins from operating in a manner similar to interest-bearing accounts.
Goldman Sachs: US Stocks Range-Bound in August, Deleveraging Nearing End
According to TechFlow Research, Goldman Sachs' research report on July 29 pointed out that the 5-year historical percentile of the total leverage ratio of global accounts remains at the 93rd percentile, the hedge fund long-short ratio has decreased from 5.7 times to 3.2 times, and deleveraging progress exceeds 90%. In July, net inflows into US stock funds were $34 billion, marking the third highest level for the same period in nearly 20 years. The S&P 500 fell below the short-term trigger level of 7,453 points; if it continues to decline, it will trigger concentrated CTA selling. Goldman Sachs estimates that systematic strategies hold approximately $196.3 billion in US stock long positions, with CTA positions at the 44th percentile. Goldman Sachs judges that US stocks are unlikely to have a trending market in August, with overall performance dominated by range-bound oscillation. Buybacks are the most certain buying support in August; currently, about 31% of S&P 500 constituents are in the buyback window, and it is expected that over 90% of companies will end the quiet period by mid-August. However, seasonal capital outflows, quantitative selling, and conservative institutional positions jointly suppress upward space. Goldman Sachs recommends reverse dispersion strategies and IWM put options as hedging tools.
JPMorgan: Deleveraging Only Partially Complete, US Stocks May Still Need to Fluctuate for Three Months in Short Term
According to TechFlow Research, JPMorgan's July 15 capital flow report noted that the deleveraging process initiated in June is still ongoing; leveraged ETFs, options, and margin accounts still have room for compression, and US stocks still face short-term pressure. Since the June peak, leveraged ETF assets have contracted by 34%, and market-wide leveraged ETFs have contracted by 13%. There is "convexity decay" in the leveraged product structure: continuously consuming their own scale during range-bound oscillations, requiring about three more months of oscillation to return to pre-April levels. Retail call option buying volume has retreated from the June 5 peak, but remains distant from historical bottoms; margin account leverage remains at levels comparable to peaks at the end of 2021 and mid-2018. Hedge fund leverage ratios have retreated from June historical highs, and semiconductor positions are beginning to be reduced. Risk parity fund leverage has returned to normal. In the medium to long term, long-term funds such as retail, CTAs, and sovereign wealth funds still provide net demand support, with annual net equity demand approximately $275 billion. JPMorgan believes short-term volatility may be the end stage of deleveraging, rather than a signal of deteriorating fundamentals.