[SEC Proposes Two-Tier Fundraising Exemptions for Crypto Projects, Nearly Half of Projects Fall Under $5 Million Cap] Odaily Planet Daily News: Among 3,244 crypto projects with fundraising records spanning no more than four years and verifiable amounts, 1,617 projects have cumulative fundraising amounts not exceeding $5 million, accounting for 49.8%, with a median fundraising amount of $2.5 million. Approximately 96% of these projects completed only one round of fundraising. In terms of sectors, DeFi, infrastructure, and gaming projects collectively account for 59.2%. Additionally, 92.9% of the projects have identifiable investors, and 83.5% disclosed at least two investors, though about a quarter of the projects in the sample have ceased operations. On August 18, the U.S. SEC proposed the 'Regulation Crypto Assets,' which aims to establish two tiers of issuance exemptions: one tier allows projects to cumulatively raise no more than $5 million within four years; the other tier permits projects to raise up to $75 million every 12 months but requires the submission of financial statements and adherence to ongoing reporting obligations. The proposal is currently in a 60-day public comment period and has not yet taken effect.