Good morning. Here’s what’s happening:
Prices: Crypto is flat as traders await U.S. central bank Chair Jerome Powell‘s next comments.
Insights: Exposure to China and the subsidies it is receiving may be hurting Filecoin‘s growth.
First Mover Asia: Filecoin Struggles Amid China Exposure, Cost of Subsidy Concerns
A large footprint in China, which creates skepticism about data safety, and a heavy subsidy spend, means Filecoin needs more than a token rally to be sustainable; bitcoin holds steady at $22.4K.
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