BlockBeats will summarize the industry's key news content for the week (6.23-6.29) in this article, and recommend in-depth articles to help readers better understand the market and learn about industry trends.
On June 23, according to CNN, White House Press Secretary Caroline Levitt reiterated in the program that the U.S. believes Iran's nuclear facilities have been completely destroyed, and is highly confident that the location of the attack was indeed the storage site of Iran's enriched uranium. The next day, Iran and Israel declared an official ceasefire. In response to this news, Bitcoin surged 8% overnight. On the 25th, Bitcoin rebounded to surpass $108,000. The market may be gradually overcoming the panic caused by the geopolitical conflict. Related Readings: "Hopes for Iran-Israel Ceasefire, Fed Turns Dovish, BTC Surges 8% Overnight", "Market Likely to Move Beyond Geopolitical Crisis Soon, But Weaker BTC Demand May Lead to a Larger Pullback"
On June 24, Xiao Feng, Chairman of HashKey Group, stated in a recent interview with BlockBeats that after the issuance of the Hong Kong stablecoin license, stablecoins of various currencies can be issued, not limited to HKD stablecoins. The blockchain network required for the deployment of the issued stablecoins will be determined by the issuer, meaning it could be networks like Ethereum, Solana, or even a proprietary blockchain network.
On June 24, Guotai Junan International announced that Guotai Junan International Holdings Limited (Stock Code: 1788.HK), a subsidiary of Guotai Haitong Group, was officially approved by the Hong Kong Securities and Futures Commission on June 24 to upgrade its existing securities trading license to provide virtual asset trading services and advisory services on top of providing virtual asset trading services. After the upgrade, clients can directly trade cryptocurrencies such as Bitcoin, Ethereum, and stablecoins like USDT on its platform. On the 25th, the Hong Kong stock of Guotai Junan International rose by over 180%. According to sources familiar with the matter who spoke to BlockBeats, top securities firms such as Guotai Junan, Tiger, and Futu have all partnered with HashKey Exchange, and the newly added cryptocurrency trading services by these firms are all using HashKey Exchange's Omnibus Service. On the 26th, industry insiders involved in virtual asset license applications and system integration revealed that several local Hong Kong securities firms (such as Victory Securities, Ed Securities, etc.) have completed the first wave of license upgrades. Guotai Junan International is not the only Chinese securities firm applying for the license, and more institutions may join the fray in the future. Related Readings: "Guotai Junan Soars 190%, Is Hong Kong Stock Also Riding the 'Crypto Stock' Wave?", "'Crypto Stocks' - What Are They All Trading? Overview of the Hottest Cryptocurrency Concepts in U.S. Stocks", "Compliance Winds Blow on Both Ends: Why Did Guotai Junan International and HSK Both See Explosive Growth?"
On June 26, according to The Wall Street Journal, Trump's frustration with the Fed's stance on rate cuts is growing, prompting him to consider announcing his pick for the next Fed chair early. Currently, Chair Powell has 11 months left in his term. Sources familiar with the matter revealed that in recent weeks, Trump has been considering whether to select and announce Powell's successor in September or October of this year. The individuals Trump is considering for the role include former Fed Governor Kevin Warsh and National Economic Council Director Hassett. In addition, Treasury Secretary Mnuchin has been recommended as a potential candidate by supporters of both. Other possible nominees include former World Bank President Malpass and current Fed Governor Waller. This early announcement approach can allow the nominee to influence market expectations of future rate paths in advance. Related reads: "Fed Leadership Change Imminent, Market Already Betting on 'Big Easing'?", "Trump Has Called Out Powell 17 Times, Why Is the Fed Not in a Hurry to Cut Rates?"
On June 26, the Director of the U.S. Federal Housing Finance Agency (FHFA), Pulte, posted on social media: "After research and following President Trump's vision of making America a cryptocurrency capital, today I have instructed Fannie Mae and Freddie Mac to be prepared operationally to include cryptocurrency as a recognized asset in mortgage applications." Related read: "Bitcoin Loan to Buy a House? U.S. FHFA Considering Including Cryptocurrency in Mortgage System"
On June 23, according to several KOLs on the X platform, Humanity Protocol (H) may be a "domestic shell project," with images from Shenzhen access control manufacturer ZKTeco found in the app's codebase. Some netizens also claimed that the social platform's popularity is largely driven by the project team's alternate accounts, casting doubt on actual user participation. On the same day, the founder of Humanity Protocol responded by stating, "An old version (v1.0.2) of the Humanity application inadvertently included some legacy image resources unrelated to the formal system during packaging. These are only legacy files remaining from the early testing phase and were not actually called by the application. We have since removed the related files and pushed clean updates to major app stores. The mentioned 'ZKTeco Information' is a technical partner we collaborated with during the early hardware evaluation and infrastructure setup phase. The company's founder was a senior engineer at Tencent and has been recognized in the industry for the stability and security of their technology. This collaboration is limited to the technical aspect. Humanity will not collect original palm print images or any personally identifiable information."
On June 24, cybersecurity company Kaspersky announced that a malware named SparkKitty has been active since at least early 2024, possibly related to a similar malware called SparkCat. SparkKitty specifically steals photos from infected devices with the aim of finding screenshots of cryptocurrency wallets' mnemonic phrases. Kaspersky found that two applications used to propagate this malware were related to cryptocurrency. One of them, named "Coin Coin," disguised itself as a cryptocurrency information tracker and was previously available on the App Store. On the same day, Coin Coin responded by acknowledging that it had integrated a third-party SDK provided by a certain exchange platform, but the high-risk features related to album access and image upload in that SDK were disabled from the beginning, never activated or triggered, and user data was not impacted in any way.
On June 27, Glue founder Ogle took to social media to accuse the Across Protocol team of engaging in privacy manipulation of DAO votes and diverting approximately $23 million from the protocol's treasury. Ogle stated that the Across team initiated multiple votes in 2023 and 2024, proposing to transfer a total of 150 million ACX tokens to a for-profit company established by the Across team called Risk Labs under the guise of "strategic investment" and "retrospective funding," and then manipulated the votes' approval using other addresses with traceable links to them. On the same day, Across co-founder Hart Lambur issued a statement denying these two allegations. Hart stated that Risk Labs is a non-profit foundation bound by Cayman law, and the funds are used for protocol development. Regarding the accusation of "internal manipulation of the governance process," Hart mentioned that team members are free to use tokens they purchased to vote, and proposals are passed without any dissenting votes, with the process being transparent. Read more: "Across Protocol Governance Scandal: Team Manipulates DAO Governance Votes, Embezzles $23 Million from Treasury"
On June 20, the cryptocurrency exchange platform Kraken is relocating its headquarters from San Francisco to Cheyenne, Wyoming. This move reflects Kraken's confidence in Wyoming's leading position in digital asset policies and is built on the foundation of the past four years of collaboration with the state—such as providing $300,000 in cryptocurrency education funding to the University of Wyoming and co-hosting the inaugural Wyoming Blockchain Stampede held in Jackson Hole. Wyoming has become a hub for cryptocurrency companies due to its low-tax environment, libertarian tradition, and bipartisan support for crypto legislation. Read more: "By Moving to Wyoming, Can Kraken Take the Baton from Circle to Create the Next Billion-Dollar IPO?"
On June 26, Huaxin Capital Holdings (01911.HK) announced that the board of directors had decided to expand into the Web3.0 and cryptocurrency asset fields while continuing to strengthen Huaxin's existing business. They approved a budget of $1 billion to be used over the next two years for the group's development of Web3.0 business and investment in cryptocurrency assets. Previously, the group's fund had successfully invested in Circle and facilitated the listing and multiple rounds of funding for many top cryptocurrency companies. In the future, the group will increase its investment and development efforts in stablecoins, RWAs, and the entire cryptocurrency ecosystem, as well as actively expand applications for relevant business licenses and upgrades. Following this news, on the 27th, Huaxin Capital Holdings rose by over 30%.
On June 26, Hong Kong released the "Hong Kong Digital Asset Development Policy Manifesto 2.0," reiterating the government's commitment to transforming Hong Kong into a global innovation center in the digital asset field. The "Manifesto 2.0" outlines the government's vision to build a trusted and innovation-focused digital asset ecosystem, prioritizing risk management and investor protection while striving to bring tangible benefits to the real economy and financial markets. The new policy manifesto focuses on optimizing laws and regulations, expanding the types of tokenized products, promoting application scenarios and cross-border cooperation, and developing talent and partnerships.
On June 26, according to official sources, YZi Labs announced an investment in MEET48—a decentralized entertainment platform from the BNB Chain MVB (Most Valuable Builder) accelerator aimed at addressing challenges in fan interaction through a token-driven solution. This round of financing will accelerate the development of MEET48 and further enrich its Web3 fan experience through virtual performances, idol cultivation games, and real-world events.
On June 26, according to Fortune, Galaxy is expanding its venture capital business through a $175 million fund. Galaxy announced the completion of the final fundraising, exceeding the initial $150 million target. This marks Galaxy's first acceptance of external capital, although the company still acts as the anchor investor of the fund through its proprietary capital. Galaxy serves as both a limited partner and holds general partner interests in the fund. As a company that went public on Nasdaq in May, Galaxy's new fund also provides retail investors a rare opportunity to participate in a crypto venture capital portfolio.
The Cork Protocol attacker sent over 4500 ETH to Tornado Cash and included a donation, Tornado Cash co-founder stated they will return the funds to the Cork team
Earlier (May 28), Cork Protocol was attacked, resulting in approximately $12 million in losses. On June 25, according to PeckShield monitoring, the address identified as "Cork Protocol Exploiter 2" transferred 4520 ETH (worth around $11 million) to Tornado Cash and donated 10 ETH to the Tornado Cash developer legal aid fund. On the 26th, Tornado Cash co-founder Roman Storm posted on X platform: "My defense lawyer cannot accept these funds, they will be returned to the Cork team."
On June 25, as per market data, most US stock crypto concept shares have seen considerable gains since the beginning of June, meanwhile, excluding Bitcoin, the total market capitalization of altcoins (total2) has risen from $1.231 trillion at the start of the month to the current $1.304 trillion, a 5.93% increase since the beginning of June. The altcoin market's performance this month has diverged from crypto concept shares. Crypto treasury companies such as Circle, Coinbase, Riot Platforms, Hut 8 Corp have shown impressive performance, and several US-listed companies that have announced crypto reserves have seen gains of over 50%. Related read: "US-listed Companies Flocking to 'Buy Coins,' What's the Second Growth Curve Effectiveness?"
On June 23, according to The Information crypto journalist Yueqi Yang, after re-entering the US market in April this year, the cryptocurrency exchange platform OKX is considering an initial public offering (IPO) in the US. Following this news, OKB surged over 4% in under 1 hour. Related reads: "OKX Heading for the US Stock Market, is CEX Industry at a New Inflection Point for Listings Wave?", "Binance's Capital Chess: What Impact Could Relaunching IPO Have on the Crypto Industry?"
On June 24, it was reported that Texas became the first state in the United States to establish an independent Bitcoin reserve supported by public funds. This came after the Texas governor signed Senate Bill 21 over the past weekend, which requires the state government to establish a Bitcoin reserve managed separately from the main financial system. Unlike Arizona and New Hampshire, which only passed similar legislation, Texas not only authorized the establishment of this reserve but also provided actual funding. The state government will allocate $10 million to purchase Bitcoin to bolster this reserve. Related reading: "Interpreting the Texas Bitcoin Reserve Bill: $10 Million Allocation, Independent of State Financial System"
On June 23, Twitter user 0xCircusLover disclosed, "Celestia's executive team will have all tokens unlocked by October 2024, in addition, Celestia founder Mustafa Al-Bassam sold over $25 million worth of TIA tokens via OTC and moved to Dubai." In response, Mustafa posted on the 24th stating, "I have been involved in the cryptocurrency space since 2010 and understand that survival in this industry requires perseverance and the ability to withstand various tests, as all tokens at some point in their lifecycle will experience a 95% drop. We have a fund reserve of over $100 million, and our cash flow can support over 6 years of operation, so we are prepared for a long-term battle, no matter how long it takes." Related reading: "Down 92%, Celestia's New Proposal Seeks to Revolutionize 'POS'
On June 24, Nano Labs Ltd (Nasdaq: NA) announced that they had signed a convertible bond subscription agreement. This agreement involves issuing $500 million in convertible promissory notes through convertible bonds and private placement, with a purchase value of $1 billion in BNB. On the same day, the US stock Nano Labs saw a price surge of over 170%. The long-term goal is to hold 5% to 10% of the total circulating supply of BNB. Binance founder CZ stated in a post on the day, "The US stock Nano Labs Ltd has become a publicly traded company with a strategic reserve solely holding BNB. We (my affiliates) did not participate in this round of financing, but still provided strong support." CZ also mentioned that multiple companies are currently exploring "BNB-version micro-strategy."
On June 24, stablecoin issuer Circle Internet Group (CRCL) once again continued its rally, with a market cap exceeding $638.9 billion. Based on the day's closing price, it has surged over 749% from its IPO price of $31 per share, while the total market cap has reached 103.6% of its USDC market cap. However, in the following two days, Circle's stock price saw a slight decline but still remained stable at a high level. Related reading: "Who Captured the Economic Value of USDC Behind CRCL's Pullback?", "USDC Supply and Circle Valuation: Is the $580 Billion Market Cap a Bubble or Undervalued?"
On June 26, the decentralized finance (DeFi) protocol Resupply's wstUSR market experienced a security vulnerability, resulting in a loss of approximately $9.6 million in crypto assets. Blockchain security company Cyvers stated that this attack was triggered by a price manipulation attack involving the protocol's integration with a synthetic stablecoin called cvcrvUSD. The next day, Onekey founder Yishi spoke out about the incident, demanding that Curve provide a fair resolution to every investor, returning user funds lost due to the project's error.
On June 27, according to Bloomberg citing sources familiar with the matter, the Hong Kong subsidiary of Guotai Junan Securities Co., Ltd. began offering tokenized securities accruing interest in currencies such as USD, HKD, and offshore RMB. The source mentioned that the company's daily interest, daily redeemable tokenized security is named "GF Token." The USD-denominated tokens are benchmarked to the Secured Overnight Financing Rate (SOFR), while the rates for HKD and RMB products are not yet clear. The source noted that these tokens are only offered to institutional and professional investors, allowing idle short-term funds to earn interest and facilitating conversions between other tokenized assets. The tokens are issued on-chain and will be traded on the licensed crypto exchange Hashkey in Hong Kong. Guotai Junan Securities (Hong Kong) did not immediately respond to requests for comment.
On June 27, it was reported that Senator Tim Scott, Chairman of the U.S. Senate Banking Committee, stated that the Cryptocurrency Market Structure Bill will be completed by September 30, a time frame that has surpassed the previous August deadline set by Trump.
On June 26, a security vulnerability occurred in the wstUSR market of the decentralized finance (DeFi) protocol Resupply, resulting in a loss of approximately $9.6 million in cryptocurrency assets. This attack was triggered by a price manipulation attack involving the protocol's integration with a synthetic stablecoin called cvcrvUSD. Subsequently, Onekey Founder Yishi, as one of the top three investors in Resupply, spoke out demanding that Curve provide a fair solution to every investor, returning user funds lost due to the project's errors.
Yishi stated that as one of the top three investors in Resupply, the losses from this attack amount to millions of dollars, causing not only significant economic loss but also immense psychological pressure. His key positions in seeking justice are as follows: many investors, including himself, made large investments based on Resupply's perceived trustworthiness in Curve; the losses incurred in this attack were not due to market fluctuations or bad debt events but rather a technical flaw—an ERC4626 inflation vulnerability, caused by the team's failure to burn the initial shares during the deployment of the new treasury; the Resupply team shifting the losses onto the insurance pool depositors lacks responsibility, as the purpose of the insurance pool is to cover black swan events and market risks, not internal negligence. Moreover, the Resupply team did not proactively state in the protocol that the insurance pool could cover losses resulting from team errors; Curve and crvusd derived substantial benefits from Resupply, and they should not be allowed to abandon this issue. The vulnerability was not a market problem but a design and deployment defect, and the responsibility lies with the team and not the users. The Convex or Yearn treasuries should share the responsibility.
On June 27, Tim Shekikhachev, a member of the Resolv team, posted that Resolv had released over 15% of the token supply to the market, including through airdrops, liquidity provider incentives, and incentive budgets. The majority of these went to early users. Some investors anticipated public market selling pressure and shorted the token, planning to buy back at lower prices. Considering the aggressive selling typically seen after airdrops, this strategy makes sense, as savvy investors aim to re-enter at lower valuations for greater returns. Tim added: "The Resolv Foundation did not sell any tokens during this period. In fact, at the current prices, we are strong buyers—having bought approximately 1.6 million RESOLV at an average price of around $0.15 in the past 24 hours."
Onekey founder Yishi's remarks regarding the Resupply event to safeguard their own rights (including calling on Curve to take some responsibility for Resupply) have drawn opposition from many developers. Due to his statement of "threatening the team," Yishi was banned from the Resupply official Discord. Furthermore, some individuals went as far as sending racially derogatory insults to Yishi via private messages (it is currently unclear whether these individuals are associated with the project).
Airdrop details are as follows:
June 23: 250 CARV; Phase 1: Points ≥247; Phase 2: Points ≥198, first come, first served, claiming consumes 15 points.
June 24
· 1666 MGO, participation with points ≥210, first come, first served, claiming consumes 15 points;
· 4800 DMC; Phase 1: Points ≥248; Phase 2: Points ≥210, first come, first served, claiming consumes 15 points;
· 125 NEWT; Phase 1: Points ≥241; Phase 2: Points ≥180, first come, first served, claiming consumes 15 points;
June 25: 1600 H; Phase 1: Points ≥230; Phase 2: Points ≥180, first come, first served, claiming consumes 15 points;
June 26
· 3125 XO; Phase 1: Points ≥239; Phase 2: Points ≥198, first come, first served, claiming consumes 15 points;
· 1000 SAHARA; Phase 1: Points ≥223; Phase 2: Points ≥180, first come, first served, claiming consumes 15 points;
June 27
· 400 MORE, participation with points ≥170, first come, first served, claiming consumes 15 points;
· 10,000 CESS, eligible for claiming with points ≥170, claiming consumes 15 points.
Binance Alpha's daily trading volume is around $500 million, continuing the downward trend from last week, with over a 70% drop from the peak of $2.04 billion.
On June 26, it was reported that a British man was charged with activities on a cybercrime forum under the alias "IntelBroker" and was accused of selling stolen data, resulting in over $25 million in losses. The US Southern District of New York Attorney's Office announced the prosecution of Kai West. According to the indictment, an undercover law enforcement officer had sent a private message to "IntelBroker," intending to purchase a victim's data for $250 worth of Bitcoin (BTC). The other party provided an address belonging to West, and upon completion of payment, the data was delivered, allegedly including three admin-level usernames and passwords. West and his online partners had listed this illegally obtained data for sale at over $2 million. He was later arrested in France in February of this year, and the US is currently seeking his extradition.
On June 24, the Iranian cryptocurrency exchange Nobitex, which suffered a loss of approximately $100 million in a previous attack by a pro-Israeli hacker group, released a service restoration plan. The platform's services are set to gradually resume in stages: the first stage will begin on June 25, requiring all users to undergo re-verification through the web version to ensure account security. During the verification period, most platform functions will remain disabled; the second stage is expected to start on June 28, where verified users will regain account access; the third stage will commence on June 30, gradually opening up withdrawal, deposit, and trading functions, with specific details to be announced in subsequent updates.
This Week's Major Fundraisings: Veda, Digital Asset, Polymarket, Zama, Kalshi, OpenRouter
On June 23, DeFi infrastructure company Veda announced the completion of an $18 million fundraising round, led by CoinFund.
On the 24th, privacy-focused blockchain network Canton Network developer Digital Asset raised $135 million, with lead investments from DRW Venture Capital and Tradeweb Markets.
On the 24th, Polymarket is set to close a nearly $200 million funding round, valuing the company at over $10 billion.
On the 26th, fully homomorphic encryption (FHE) provider Zama completed a $57 million Series B funding round, co-led by Blockchange Ventures and Pantera Capital. This funding round brings Zama's total capital raised to over $150 million, valuing the company at over $10 billion, making it the first FHE unicorn company.
On the 26th, Paradigm, with a valuation exceeding $10 billion, supported the regulatory-compliant prediction market Kalshi in completing a $100 million fundraising round. Related article: "Silicon Valley vs. Washington, Polymarket and Kalshi Deciding Life or Death"
On the 27th, AI model marketplace platform OpenRouter raised $40 million in seed and Series A funding, valuing the company at approximately $5 billion. This round was led by Andreessen Horowitz and Menlo Ventures, with participation from Sequoia and several other industry-renowned investors.
"On Day 154 of His Second Term, Trump Pays Off Over $1 Billion in Debt"
On the 154th day of his second term, Trump made a dramatic move by paying off a $1.14 billion cash loan on Manhattan's Wall Street 40 property, sending shockwaves through the market. This fund may have come in part from his vast wealth network built through cryptocurrency, brand licensing, and media platforms, including a massive USDT redemption on the TRON blockchain, cash-out of family-issued Meme coins, and realization of equity in Trump Media. After six corporate bankruptcies and being cut off by mainstream banks, he turned to shadow banking for financing to restructure his business empire. This "all-cash repayment" not only showcased his astonishing fund mobilization ability but also sparked widespread questioning about the sources of his wealth, market manipulation, and political-financial relationships.
"Female Buffett Earns $200 Million from CRCL, Can She Now Short Circle?"
The soaring stock price of Circle has ignited market frenzy, with its market cap surpassing that of the issued USDC, becoming the focal point of the stablecoin race's capital narrative. Despite institutions like ARK Invest starting to take profits, the market remains overwhelmingly bullish due to the high cost of shorting and small float. While U.S. stock investors are enthusiastic about grand narratives, traders in the crypto space have serious divergences in fundamental valuation. This compliant stablecoin frenzy, endorsed by giants like BlackRock, may just be getting started.
"CRCL Hits New High as Circle Executives and VCs Collective Sell Off $20 Billion"
Since its listing, Circle's stock price has continued to skyrocket, with CRCL surging from an IPO price of $29.30 to $300, making it one of the biggest winners in the intersection of Wall Street and the crypto world. However, in this stock ownership feast of the stablecoin leader, the earliest executives and VCs have become the "disappointed" ones who missed the main uptrend. Many of them chose to sell on the IPO day, missing out on potential billion-dollar gains in just two weeks. This not only reveals a severe misjudgment of market expectations but also reflects the cognitive gap between the primary and secondary markets in the new era of crypto finance. When even founders fail to anticipate the true value of their own stock, perhaps we should reconsider: in this narrative-driven and emotionally leveraged era, who truly possesses the smart money?
"Did You Miss Out on Circle's 7X Surge? Is It Still Time to Long Coinbase?"
Recently, Circle's strong performance since its listing has left many investors who missed the opportunity feeling regretful. Many of them are actively looking for alternatives to Circle, with the highest demand being for Coinbase. After all, given its close business relationship with USDC, investors widely believe that the market's future expectations for Circle and USDC could also be priced into Coinbase's stock.
"Is pump.fun Worth $4 Billion Now?"
As the meme coin craze subsides, pump.fun, with a valuation of up to $4 billion, is facing liquidity outflows, market skepticism, and transformation pressure. It is no longer just a fast-paced coin issuance platform but is attempting to pivot towards building "decentralized media." The platform aims to cultivate live streaming celebrities and reshape influence through community culture. While its coin issuance plan has sparked controversy over whether it is a "rug pull," its content strategy and creator incentive mechanism centered around Gen Z aesthetics demonstrate the potential to reclaim a leading position in the next wave of the meme coin craze. Meme coins will not die because young people still need a narrative stage to change their destiny.
"Can Crypto Retail Investors Buy SpaceX Equity Now? A Look at Three Major Private Equity Tokenization Platforms"
Private equity tokenization is becoming a new narrative beyond stablecoins, represented by projects such as Jarsy, Republic, Tokeny, and others. These projects are trying to break the traditional private placement market's high barriers to entry, low liquidity, and institutional dominance. Through blockchain technology, they are seeking to tokenize equity assets of star companies like SpaceX and Stripe that are not yet listed, allowing retail investors to participate in the primary market growth dividend with thresholds as low as $10. Although this trend demonstrates significant potential for reshaping financial access and asset liquidity, it still faces multiple challenges such as legal compliance, structural design, and trust mechanisms. The real test of Real World Assets (RWA) is just beginning.
"From State-Owned Enterprise Deputy Factory Director to Ride-Hailing Driver, Crypto Contract Leverage Has Left Him $3 Million in Debt"
An ordinary person who once served as a deputy director of a state-owned enterprise found himself deeply trapped in the quagmire of leverage trading in the crypto world, with accumulated losses of up to 3 million CNY. Despite attempting to turn his fortunes around four times through borrowing money, he ultimately ended up in destitution, driving a ride-hailing car to repay his debts. His family fell apart, his relationship with his parents severed, and his life was in complete disarray. He personally narrated the entire process from "taking a blunt knife to cut meat" to losing control of his psychology, revealing the deep-seated dilemma faced by ordinary people in the crypto world, entangled by information asymmetry and greed. Beneath the illusion of sudden wealth lies the price and downfall experienced by countless ordinary people after their dreams were shattered.
"Apart from BTC and ETH, what are the 3-5 year best crypto investment targets in the eyes of these industry giants?"
Under the premise of not being allowed to hold mainstream coins such as BTC, ETH, SOL, several crypto industry figures shared their favored investment targets for a 3-5 year long-term cycle. The Base CEO is optimistic about Coinbase stock, Ansem has chosen Worldcoin related to decentralized identity, Auri recommends Starknet with privacy and decentralization advantages, and Fishy Catfish supports Chainlink, which leads in the field of RWA and data services. Some people have high hopes for projects like Jito, Zcash, AAVE, MKR, which have long-term potential and income-generating capabilities. Some even view SPX as a "movement meme coin" with cultural narrative value. These viewpoints reflect the long-term beliefs and risk-averse strategies of current market participants across diverse tracks.
"WLFI about to go public: Geometric valuation, will it become the next TRUMP?"
News of the Trump family's crypto project WLFI about to open transfers has sparked strong market attention. The off-exchange price of the token has risen to $0.12, ten times higher than the initial presale price. The three rounds of presale raised over $550 million, with current holdings highly concentrated among large holders. Trump himself holds 15.75%, while Justin Sun holds 3%. If there are no restrictions on release in the future, there is a significant risk of large holders selling off. At $0.12, WLFI's circulating market cap is approximately $3.12 billion. Optimistic price expectations could reach $0.5 to $1, but constrained by concentrated holdings and market trust, future volatility may be intense.
"Why did Meta, Amazon, and Microsoft collectively 'cold-shoulder' Bitcoin?"
Bitcoin as a corporate reserve asset is still a minority and radical strategy. Most tech giants such as Meta, Amazon, and Microsoft have explicitly rejected adoption due to price volatility, regulatory uncertainty, and shareholder value risk, emphasizing financial prudence and prioritizing core business. In contrast, companies like Strategy have seen a massive surge in stock price by heavily investing in Bitcoin, becoming alternative representatives but also exposing themselves to the high risk brought by crypto market fluctuations. Overall, enterprises are still cautiously weighing innovation and risk, making it difficult for Bitcoin reserve strategies to become mainstream in the short term.
"Ma Guang in 2014 Talks About Bitcoin: Simulating the Perfect Currency, Bitcoin Will Become a New Battlefield in Great Power Games"
Ma Guang systematically elaborated his deep understanding and high recognition of Bitcoin in his 2014 speech, believing that Bitcoin has not only surpassed traditional currencies like gold in technology but also possesses characteristics of the new era such as low cost, high security, and decentralization. He emphasized that Bitcoin simulates the essence of a "perfect currency," being a trustless, self-operating clearing network and a key tool in the international monetary game. Ma Guang reminded Chinese society to face the global power restructuring behind Bitcoin squarely, be wary of the United States reshaping financial hegemony through controlling its computing power, reserves, and pricing power, and called on entrepreneurs and the public to deeply understand and actively participate in the game of the Bitcoin era, not to miss the opportunity of a global monetary system transformation again.
"When Ma Guang Focused on Pinduoduo, His Mentor Tim Draper Was Already Laying Out the 'Bankless Era'"
Tim Draper, as an heir to a three-generation investment family, is famous for his early bets on Baidu, Skype, Tesla, and Bitcoin, being one of the most steadfast advocates of Bitcoin. He became a creditor during the Mt. Gox era after losing 40,000 bitcoins but still bought bitcoins at a high price from the U.S. government auctions and continued to invest in blockchain talent development and infrastructure construction. Draper firmly believes that Bitcoin will replace the US dollar as the global reserve currency and predicts that the price of Bitcoin will reach $250,000 by 2025. He emphasizes that investment should focus on mission and passion rather than short-term data and supports technological changes over a period of 5 to 10 years, encouraging innovators to seize the opportunity of global financial restructuring during regulatory turning points.
"From a Crypto Quant Whale to an Infrastructure Hermit, Jump Crypto's 'Atonement-Style' Transformation"
Once a high-frequency trading giant, Jump Crypto quietly exited the stage after suffering heavy blows such as the Terra collapse, Wormhole hack, and FTX bankruptcy. It recently announced a high-profile return as a "cryptocurrency infrastructure builder," attempting to shake off past controversies and rebuild market trust. It not only emphasizes its core technical contributions to projects like Pyth, Wormhole, and Firedancer but also rarely discloses its involvement in U.S. cryptocurrency policy lobbying. Jump Crypto has initiated a new round of investment layout, indicating its role transformation leveraging policy improvements and technological efforts to regain a key position in the on-chain ecosystem.
"From Privacy Advocate to 'Money Laundering' Defendant, Tornado Cash Co-founder Roman Storm Faces Fate Judgment"
Roman Storm faces up to 45 years in prison for developing the decentralized privacy tool Tornado Cash, making his case a focal point of the tug-of-war between technological freedom and government regulation. Although the tool aims to protect user privacy, it has been accused of facilitating money laundering, especially after North Korean hackers used it to transfer stolen funds, triggering a regulatory storm. Storm insists on technological neutrality, emphasizing his lack of control over fund movements. The encrypted community and the Ethereum Foundation have rallied behind him, viewing his trial as a key precedent to determine whether software developers are responsible for user actions. This lawsuit is not only about his personal fate but also touches on the definition of privacy and innovation freedom in the entire digital age.
"Solana Treasury Stock Upexi Plunges 60%, Early Coin Hoarding Institutions Begin to Take Profits?"
Solana Treasury concept stock Upexi plummeted over 60% due to investors' concentrated resale of shares, exposing the high risk of the so-called "on-chain micro-strategy" model. Despite earlier optimism from institutions and a massive $1 billion investment in SOL hoarding, almost all of its early circulating shares were quickly resold, leading to a rapid value reversal. Other similar companies such as DeFi Development, Sol Strategies, SharpLink Gaming are also caught in a similar predicament. Although a new wave of coin-stock frenzy is still spreading, with newcomers entering the game such as BNB and Hype concepts, the crash of early players has revealed that the "coin hoarding to sustain" model is difficult to sustain a company's fundamentals in the long run.
"Iranian Mining Alert: As Mining Becomes a Looting Tool, the Country Is Accelerating Its Collapse"
The Iranian government-led large-scale Bitcoin mining has become a crucial means to circumvent financial sanctions under pressure. However, due to the abuse of subsidized electricity and the proliferation of secret mining farms controlled by the Islamic Revolutionary Guard Corps, the national power grid has been overloaded, leading to frequent blackouts nationwide, severely affecting people's livelihoods and the economy. Although the authorities are cracking down on scattered illegal mining rigs, the true energy hog is hiding in large authorized facilities shielded by power, forming a corrupt "crypto monopoly group" that constantly devours the country's energy resources, sparking social anger and a crisis of institutional trust.
"Betting $50,000 Against Aave, Can Polygon's New Coin KAT Sustain Its Dual-Coin Ambition?"
A core member of Aave and the Polygon CEO publicly bet on the market outlook of the new coin KAT, revealing not only the tokenomics differences but also a deep-seated questioning of Polygon's multi-coin strategy and governance philosophy. As a key move in Polygon's reshaping of the DeFi ecosystem, KAT aims to restore lost liquidity from Aave and Lido's departures through airdrops, incentives, and independent infrastructure restructuring; however, the dual-coin structure may dilute the value of POL and intensify governance uncertainties. Behind the bet is a contest of ecosystem transparency, protocol collaboration, and user trust. Whether KAT can uphold Polygon's new narrative still requires dual validation from the market and time.
"Stablecoin's Next Stop: International Payments, Tokenization of US Stocks, and AI Agents"
Stablecoins are transitioning from marginal assets to the core of financial innovation, with the tokenization of US stocks and AI agent's two emerging application scenarios serving as driving forces: the former, driven by institutions such as BlackRock, Coinbase, and Kraken, is reigniting the RWA craze, expanding stablecoin demand; the latter, through smart contracts and a lightweight account system, enables AI automated payments, enhancing usability. Coupled with global payment scenarios and policy support, stablecoins are expected to become a key tool for attracting global liquidity. However, their widespread adoption is still limited by blockchain performance bottlenecks and intense market competition.
"Pantera Capital: Why Did We Invest in Worldcoin?"
Against the backdrop of rapid AI content and agent proliferation, World is dedicated to building a global "human-proof" network that verifies unique real identities through biometric means such as iris scans and achieves privacy protection and censorship resistance in the identity system based on Worldchain. Founded by OpenAI CEO Sam Altman, World has already verified over 12 million people, covering key scenarios such as gaming, dating, social, advertising, and accelerating hardware distribution and global expansion, with a goal to verify 5 billion humans, creating a decentralized digital identity infrastructure to unleash significant business and strategic value in the future on-chain economy and digital society.
"Which Web2 Businesses are More Suitable for Rapid Stablecoin Adoption?"
With regulatory progress and payment giants accelerating their efforts, stablecoins are transitioning from a concept to practical application. Their instant settlement, low cost, global reach, and programmability are redefining business models such as cross-border remittance, corporate settlements, payroll, and card issuance. This article systematically examines how To C FinTech, B2B commercial banks, payroll platforms, and card issuers can specifically introduce stablecoins to achieve 24/7 settlement, liquidity optimization, and global expansion. It points out that enterprises that are the first to deploy a stablecoin strategy will gain significant cost advantages and a leading market position.
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