最新报道：The following article is adapted from The Block's newsletter, The Daily, published weekday afternoons. Happy Wednesday! After a brief trip, I'm back in the newsletter hot seat. While I was away, The Block's OG, Yogita Khatri, took over—she also writes "The Funding," a biweekly summary of crypto venture capital trends. The latest installment explores why raising crypto venture capital funds remains difficult even in a bull market. It's well worth the read—and, like The Daily, a subscription is free! In today's newsletter, Google Cloud is developing its own blockchain, K33 warns that Bitcoin's price is at risk of further decline amid surging leverage and a rotation into Ethereum, Aave Labs launches a new stablecoin lending platform for institutions, and more. Meanwhile, Founders Fund-backed Avail has acquired Arcana, offering XAR token holders a 4:1 AVAIL exchange rate. Let's get started. According to Rich Widmann, Google Cloud's head of Web3 strategy, Google Cloud is building a blockchain called Universal Ledger (GCUL) to provide programmable payments and asset management services for financial institutions. K33 stated that Bitcoin's recent price weakness may not be over yet, as surging leverage and a massive flight to Ethereum leave the leading cryptocurrency vulnerable to further declines in the short term. Aave Labs launched Horizon, a platform that allows institutions to borrow stablecoins like USDC, RLUSD, and GHO in exchange for tokenized U.S. Treasuries and other real-world assets. KindlyMD filed a shelf registration statement with the U.S. Securities and Exchange Commission, planning to issue up to $5 billion worth of shares on the market to fund its Bitcoin fund and operations. Commerce Secretary Howard Lutnick stated that the United States will begin using blockchain technology to publish economic data such as GDP to increase transparency and government-wide accessibility. Don't miss The Block's daily digest of the most impactful events in the digital asset ecosystem.