According to @business, Bloomberg Intelligence reports that Central Huijin, a unit of China’s sovereign wealth fund, has more than 50 billion dollars in paper gains from buying local exchange traded funds, highlighting substantial government support for the equity market, source: Bloomberg Intelligence via Bloomberg. The size of these mark to market gains indicates sustained official ETF activity that has bolstered China A-share benchmarks and liquidity, a key flow signal traders monitor when assessing market support levels, source: Bloomberg Intelligence via Bloomberg. Any spillover to crypto remains limited because onshore virtual asset trading is banned in China since September 2021, restricting direct transmission to domestic crypto activity, source: People’s Bank of China 2021 notice on preventing and handling risks of virtual currency trading and speculation.

According to Balaji (@balajis), DOGE's current activities at the federal level are focused on substantial regulatory changes, which are essential for long-term market impact. However, these changes will require complementary actions at the state level to fully realize their potential benefits for traders and investors. Balaji suggests that states led by administration-aligned governors, like Vivek's, could serve as models for implementing these changes effectively.