The Bitcoin Halving cycle should have become a barometer for the Fed's interest rate cuts; however, the economic situation in the fourth quarter of 2023 is somewhat different. The government is trying to influence non-farm payroll data by adjusting employment policies to delay the interest rate cut process. Nevertheless, in order to meet the government's financing needs, the 10-year Treasury yield has still shown a downward trend, leading to a brief bull run spanning from the end of 2023 to the beginning of 2024.
In the second quarter of 2024, global economic risks intensified, leading investors to flock to safe-haven assets, which caused the cryptocurrency market to stagnate. In the third quarter, despite policymakers starting to cut interest rates, the yield on 10-year U.S. Treasury bonds unexpectedly rose, resulting in a peculiar situation where nominal interest rates fell while real interest rates climbed. The year-end market rebound was not driven by external funds but was influenced by political factors and seasonal factors.
As we enter the first quarter of 2025, the market focus has shifted from economic data to the interactions between various government departments.

Southeast Asia's Crypto Assets and Web3 Ecosystem Flourishing: 2024 Devcon Event Review
Southeast Asia is becoming an important player in the Crypto Assets and Web3 ecosystem, with Thailand being particularly prominent. Under government policies that support innovation and the growth of the digital economy, Thailand's population of over 70 million has begun to embrace blockchain technology. Tax incentives for digital token investments further enhance Thailand's appeal as a blockchain investment hub.
During Devcon 2024, Thailand hosted several important events, including Thailand Blockchain Week, the 2024 EVM Summit, and related activities of NEAR. These gatherings highlighted Thailand's leadership position in the thriving Web3 sector in Southeast Asia, laying the groundwork for future growth and innovation.
This year's Devcon held in Bangkok brought together thousands of developers, researchers, and industry leaders to showcase the vibrant ecosystem of Ethereum.

The US economy faces the risk of stagflation, with rising inflation and weak GDP growth raising market concerns. Although there is fluctuation in the crypto market, the approval of the crypto ETF in Hong Kong brings new opportunities. The global market has not yet shown systemic risks, and financial innovation measures may promote the development of the Crypto Assets market.

This week, the Web3 gaming industry is developing well. The Core Foundation will host a hackathon, Beamable has completed a $13.5 million funding round, and there are significant developments in the Solana and Base ecosystems. New and retained player game performances are outstanding, and industry vitality continues to strengthen.

Oracle Machine manipulation of events sparks controversy: $200 million case exposes risks of human intervention
Recently, a prediction market regarding the clothing of Ukrainian President Zelensky has sparked widespread controversy. This event not only involves huge sums of money but also exposes fundamental flaws in the current Oracle Machine system.
The cause of the incident was a prediction market on a certain forecasting platform regarding whether Zelensky would wear a suit at the NATO summit. Although mainstream media generally reported that Zelensky did indeed attend in a suit, the Oracle Machine responsible for determining the outcome gave a negative answer. This unexpected result was not due to a system malfunction, but rather stemmed from human manipulation.
The investigation found that some large token holders placed heavy bets on the "no" option. To protect their interests, they used their voting rights to influence the final outcome. This practice seriously violates the principles of decentralization, turning the Oracle Machine into a tool for a few individuals to seek personal gain.

The Solana ecosystem wallet Phantom has launched Futures Trading features.
The Solana ecosystem wallet Phantom recently announced the launch of the Perptual Futures trading feature, supported by Hyperliquid's API. This move breaks Phantom's long-standing silence and provides users with new trading options.
Looking back at the development history of Phantom, this Wallet once performed brilliantly during the booming period of the Solana ecosystem. From May 2024 to February 2025, Phantom completed three strategic acquisitions, namely the token and NFT data platform SimpleHash, the security company Blowfish, and the embedded Wallet operator Bitski. In January this year, Phantom also raised $150 million in a Series C funding round, co-led by well-known investment institutions. According to the data, Ph

A new paradigm of data storage in the Web3 era
With the vigorous development of the data economy, everyone inevitably participates in various data storage activities. The arrival of the Web3 era will promote the gradual upgrading or transformation of most technology fields in the coming years. As an important infrastructure of Web3, decentralized storage will be implemented in more application scenarios in the future. For example, the data storage networks behind social data, short videos, live streaming, smart cars, and more may also adopt decentralized storage models in the future.
In the Web3 era, data is the core asset, and users owning data is its main characteristic. Ensuring that users securely own their data and the assets it represents, while alleviating ordinary users' concerns about asset security, will help attract more users into the Web3 world. An independent data availability layer will become an indispensable part of Web3.
From decentralized storage to data availability layers
Traditionally, data is mainly communicated

The connection between StablecoinX and ENA: A capital convergence of Web2 and Web3
Recently, there has been a heated discussion in the cryptocurrency market regarding "US-listed companies supporting ENA." The central figure in this discussion is a company named StablecoinX, whose emergence marks an important intersection between the capital worlds of Web2 and Web3. This article will delve into the ins and outs of this event, including the identity of StablecoinX, the reasons for its $360 million fundraising, its relationship with Ethena Labs, and the potential impact on ordinary ENA holders.
Identity Decryption of StablecoinX
StablecoinX

Experienced investors believe that Ethereum, as a financial infrastructure, still has 10 times the market rise potential. In the current bull run phase, they recommend holding long-term and gradually buying in. They expect Ethereum to lead the industry's recovery and hold an optimistic view on the future regulatory environment, emphasizing that industry opportunities lie in Compliance and technological innovation.

Robinhood's on-chain financial new journey: A core player in the wave of US stock tokenization.
At the end of June 2025, a highly anticipated press conference was held in Cannes, France. The CEO of a well-known fintech company announced a series of major strategic initiatives: a new public chain built on specific Layer2 technology, tokenized trading of US stocks, perpetual futures, staking of mainstream cryptocurrencies, subscription of private equity tokens, and a new type of credit card that directly converts offline cash back into crypto assets. These initiatives not only target the core of the traditional financial system but also mark the company’s official transformation from an internet brokerage into a comprehensive on-chain financial service provider.
From the disruptive "zero-commission" model to on-chain financial reconstructors, the company is gradually delving into the core of the global financial architecture. This is no longer just a simple business expansion, but a comprehensive strategic transformation that spans technology, products, regulation, and user entry.

The Rise and Challenges of USDe Stablecoin
Recently, a new stablecoin star has emerged in the cryptocurrency market - USDe. This synthetic stablecoin launched by Ethena Labs quickly gained popularity with its design of "no fiat currency support," and its market capitalization once broke 8 billion USD, making it a representative of high-yield USD in the DeFi sector.
Recently, USDe has launched a staking activity in collaboration with a certain lending platform, with an annualized return rate close to 50%. On the surface, it seems like a common incentive strategy, but there may be underlying structural liquidity pressures that the USDe model faces during a bull market.

The Macroeconomic Storm Triggered by Tariff Policies: Opportunities and Challenges in the Crypto Market
Recently, a new tariff policy has caused a stir in the global financial markets. This policy aims to reverse a long-term trade imbalance but may have profound effects on the U.S. trade structure, capital flows, and the government bond market. At its core, it may lead to a decline in foreign demand for U.S. Treasury bonds, which in turn could affect the direction of U.S. monetary policy.
From the perspective of trade structure, high tariff policies aim to reduce imports and encourage domestic production, thereby narrowing the trade deficit. However, this approach may have side effects: rising import costs could increase inflationary pressures, while retaliatory tariffs from other countries may also weaken U.S. exports. The trade imbalance may temporarily ease, but the growing pains of supply chain restructuring and rising prices are hard to avoid.
In terms of international capital flow, the decrease in U.S. imports means that the dollars flowing overseas will decrease, which may trigger concerns about a dollar shortage globally. Overseas trade.

AI Agent System Wayfinder: Making Decentralized Finance Easier for Everyone
Decentralized Finance claims to be open to everyone, but the complex operational processes make it difficult for ordinary users to enter. From preparing Gas fees to understanding complex protocols, many have given up promising investment opportunities due to the cumbersome steps.
Wayfinder is an on-chain dedicated AI agent system designed to address the accessibility issues of Decentralized Finance. Users can simply converse with the agent to execute professional-level investment strategies, ranging from cross-chain trading to basis trading. No complex expertise is required, allowing ordinary users to easily participate in DeFi.
Wayfinder is expected to expand to API services in the future, potentially serving as infrastructure to simplify on-chain complexities and be widely used in various Web3 projects. This will greatly enhance the user experience in the cryptocurrency industry, making "financial services available to everyone" a reality.
D

The FIT21 Act was passed in 2024 to establish a framework for the regulation of digital assets. The Act clarifies the responsibilities of the CFTC and SEC, while defining digital assets, proposing classification standards, and setting decentralization standards. By supporting technological innovation and research, the Act aims to adapt to the development of the crypto assets industry and promote the regulation of digital finance.

Year-end summary and New Year outlook of a Web3 entrepreneur
The year 2024 will be an extraordinary one for the Web3 industry. As an ordinary Web3 entrepreneur still striving on the front lines, I would like to share some personal insights and outlooks with everyone. Looking back at 2024 and looking forward to 2025, I believe it can be summarized in four sentences: from wilderness to universality, from chaos to order, from recession to bubble, from conservatism to transformation.
From the Wilderness to the Mainstream: BTC Spot ETF Approved, Opening the Path to Universal Adoption of Crypto Assets
In 2024, the crypto world underwent a significant transformation from a niche subculture product to an asset class with universal value. This transformation stemmed from two landmark events:
1. On January 10, 2024, the BTC spot ETF was approved by the SEC.
2. On November 6, 2024, a cryptocurrency-friendly candidate will be elected as the 47th President of the United States.
This

Innovative governance experiment in the Solana ecosystem: MetaDAO financing success attracts follow
Recently, the Solana ecosystem governance experimental project MetaDAO announced that it has completed a $2.2 million financing, which has attracted widespread attention in the cryptocurrency circle. The project aims to explore new possibilities in the fields of prediction markets and governance experiments, and this financing undoubtedly injects strong momentum into its development.
It is reported that a well-known cryptocurrency investment institution has obtained 3,035 META tokens in this round of financing, becoming the largest single holder, accounting for 14.6% of the total supply. This not only provides financial support for MetaDAO but also demonstrates investors' confidence in its development prospects and recognition of innovative projects within the Solana ecosystem.
After the financing news was announced, MetaDAO's market performance drew attention. Data shows that its token META price has increased by 1 within a month.