BlockBeats will summarize key industry news from the week (May 5 - May 11) and recommend in-depth articles to help readers better understand the market and grasp industry trends.
Important News Review
This week, the crypto market saw a significant rebound: Bitcoin returned to $100,000 after 3 months; ETH broke $2,400 with a daily increase of over 20%
On May 8, Bitcoin returned to $100,000 for the first time since early February, after a 3-month hiatus. The total market capitalization of cryptocurrencies rose to $3.22 trillion, with a 2% increase in 24 hours. On the 9th, ETH broke $2,400, with a daily increase of over 20%, surpassing most altcoins, a situation not seen since January 3, 2021. Related articles: “Bitcoin Returns to $100,000 After 90 Days, Is the Bull Market Here?”, “Ethereum Soars 22% in One Day, E Guardians Stand Up”
This week, the Federal Reserve maintained interest rates; Powell: believes there is no need to rush to adjust rates
On May 8, the Federal Reserve kept the benchmark interest rate unchanged at 4.25%-4.50%, in line with market expectations, marking the third consecutive meeting without action. Federal Reserve Chairman Powell stated that if there is a conflict between dual objectives, one must consider the distance to the targets and the time to bridge the gap. He personally believes that the Fed does not need to rush to adjust rates, as the current policy is moderately restrictive. The potential inflation situation is good, and the cost of waiting is relatively low. U.S. President Trump responded that night: apart from the Federal Reserve, everyone else is cutting rates, and conversations with Fed Chairman Powell are like "playing the lute to a cow," as Powell is always "too late." Related articles: “Full Transcript of Powell's Press Conference: Wait and See, No Preemptive Rate Cuts”
The UK and the US reached an agreement on tariff trade agreement terms; Trump: 10% is the bottom line for tariffs
On May 8, the UK and the US reached an agreement on the terms of a tariff trade agreement. The UK government agreed to make concessions on imports of U.S. food and agricultural products in exchange for the U.S. reducing tariffs on UK car exports. President Trump stated: I believe the 10% tariff bottom line has been set, and the 10% benchmark rate for the UK is not a template for other countries; 10% is a very low number, and other countries (may) be higher.
The GENIUS stablecoin bill failed to pass in the Senate, Democrats emphasize the need to prohibit the Trump Organization from participating in cryptocurrency
On May 9, NBC reported that the U.S. Senate voted 48-49 against the "Stablecoin Innovation and Security Act." The bill aimed to establish the first regulatory framework for stablecoin issuers in the U.S. It required 60 votes to proceed to the final Senate voting process, while the Republicans currently hold a narrow advantage of 53-47 seats. Democrats demanded the inclusion of explicit provisions prohibiting executive officials, including former President Trump and his family members, from holding or trading cryptocurrencies, and strengthening anti-corruption clauses. On the same day, U.S. Treasury Secretary Scott Bessent stated that the Senate's failure to advance the GENIUS bill was a missed opportunity to expand the dominance of the dollar. The bill was originally intended to establish a unified federal regulatory framework for stablecoins and digital assets, replacing the existing state-level regulatory system. Bessent warned that if the U.S. fails to establish leadership in the digital asset space, related innovative activities may shift overseas. Related articles: “U.S. Stablecoin Bill Rejected, Will Regulatory Chill Affect the Reboot of Altcoin Season?”
Binance Alpha launched multiple airdrop events this week and will implement an Alpha points consumption mechanism
Airdrop details are as follows:
- May 5: Alpha points ≥137, or points ≥99 and UID ending with 4, airdrop of 291 BOOP.
- May 6: MYX Finance (MYX) TGE participation threshold: points ≥142, or points 99–141 and UID ending with 8.
- May 7: points ≥142, or points 64–141 and UID ending with 2, airdrop of 50 ZKJ;
points ≥153 or points 116–152 and UID ending with 6, airdrop of 165 OBOL. - May 8: points ≥150, or points 66–149 and UID ending with 1, airdrop of 512 SXT.
- May 9: points ≥168, or points 129–167 and UID ending with 3, airdrop of 9,873 DOOD.
Additionally, according to an official announcement, starting from May 13, 2025, Binance will implement an Alpha points consumption mechanism. Under this mechanism, if users successfully participate in token generation events (TGE) or receive airdrops, the system will deduct a certain number of Alpha points.
Coinbase announced the acquisition of cryptocurrency options platform Deribit
On May 8, Coinbase officially confirmed the acquisition of the cryptocurrency options platform Deribit to unify spot, futures, and options trading. The acquisition price is approximately $2.9 billion, including $700 million in cash and 11 million shares of Coinbase Class A common stock, with the specific transaction price to be adjusted according to customary practices. "Through Deribit, Coinbase becomes the largest platform in the global crypto derivatives space by open interest and options trading volume, bringing approximately $30 billion in open interest and over $1 trillion in trading volume, solidifying Coinbase's position as a leader in the global crypto market." Related articles: “$2.9 Billion Acquisition of Deribit, Coinbase Profits”
Ethereum mainnet officially activated the Pectra upgrade
On May 7, the Ethereum mainnet activated the Pectra upgrade, reaching the scheduled Epoch 364032. The Ethereum Pectra upgrade is a significant hard fork following the Merge in 2022 and the Dencun upgrade in 2024, combining improvements to the execution layer (Prague) and consensus layer (Electra) to enhance network scalability, security, efficiency, and user experience. Key objectives include simplifying wallet operations through account abstraction, reducing transaction complexity, optimizing the validator mechanism, improving staking flexibility, and reducing network burden. Enhancing L2 scalability, increasing blob capacity, and lowering L2 transaction costs. Strengthening security by introducing new cryptographic tools and communication frameworks. Related articles: “In-Depth Analysis of Ethereum Pectra Upgrade: Long-Term Technological Leap, Short-Term Pressure on ETH Price”, “Is ETH Rebounding Soon? Can Ethereum Pectra Upgrade Restart Market Confidence?”
Zerebro co-founder Jeffy Yu caught in 'faked death' controversy: issued meme 'after death'; found hiding in parents' home
On May 6, an obituary published on the Legacy website announced that Zerebro co-founder Jeffy Yu passed away in May 2025 at the age of 22. As attention grew, the associated meme token LLJEFFY saw its market cap soar, briefly surpassing $30 million. However, on the evening of the 6th, several KOLs posted to "debunk" the news and shared screenshots of a letter Jeffy Yu sent to an early investor. In the letter, he stated that to escape long-term harassment and threats, and to prevent the collapse of his project tokens ZEREBRO and OPAIUM, he decided to "fake his death" to get away. Furthermore, after Jeffy Yu's "death," a suspected associated address still sold 35.55 million ZEREBRO tokens. On the 9th, foreign media reported that Zerebro co-founder Jeffy Yu is currently living in his parents' home. Related articles: “22-Year-Old Founder of $800 Million AI Project Commits Suicide, Leaving Behind a New Experiment?”, “Timeline | Doubts Surrounding the 'Death' of 22-Year-Old Zerebro Co-Founder: Issued Tokens to Commemorate Himself 'After Death', Associated Address Continues to Dump Tokens”
Futu Securities International (Hong Kong) launched Bitcoin, Ethereum, and USDT deposit services
On May 7, Futu Securities International (Hong Kong) Limited announced the official launch of Bitcoin, Ethereum, and USDT deposit services. Qualified investors can complete deposits and trade cryptocurrencies through the one-stop trading platform Futu NiuNiu, supporting investments in traditional financial assets, including Hong Kong, U.S., and Japanese stocks, options, ETFs, funds, bonds, and other diversified assets, allowing for quick conversions between virtual and traditional asset markets.
New Hampshire passed a strategic Bitcoin reserve bill, authorizing state treasury officials to purchase Bitcoin, allowing a maximum Bitcoin holding limit of 5% of state total funds
On May 7, the Governor of New Hampshire signed HB 302, making New Hampshire the first state in the U.S. to adopt a "Live Free or Die" national monetary policy framework, which directly incorporates the Strategic Bitcoin Reserve (SBR) model bill from Satoshi Action. The main content of HB 302: allows the state treasury to purchase Bitcoin and top digital assets; the holding limit is 5% of the state total funds; mandates U.S. regulatory custody, assets must be held by state-controlled multi-signature or through U.S. exchange-traded products; to take effect 60 days later. Related articles: “After the King Signs, Which States in the U.S. Are 'Obediently' Advancing Bitcoin Strategic Reserve Bills?”
Arizona passed a bill to create a crypto reserve, which could confiscate "long-term dormant" crypto assets
On May 8, the HB 2749 bill was officially signed in Arizona, establishing the state's first crypto reserve. The bill does not allow for investments but will transfer unclaimed assets, airdrops, and staking rewards into the reserve. This indicates the governor's willingness to promote crypto-friendly legislation. According to the official press release, the bill also includes the following provisions: if the legal owner fails to respond to communications within three years, the digital asset is presumed to be abandoned. Once a digital asset is deemed abandoned, the holder must submit the digital asset to the tax department in its original form. Qualified custodians in the state are authorized to stake these assets to earn rewards or receive airdrops. Any staking rewards or airdrop assets will be deposited into a new Bitcoin and digital asset reserve fund, managed by the state treasurer and subject to legislative appropriations.
Coinbase Q1 Financial Report: Revenue and Earnings Below Expectations Due to Declining Trading Volume
On May 9, U.S. cryptocurrency exchange Coinbase released its Q1 financial report, revealing that its revenue and earnings fell short of market expectations due to a decline in trading activity from the previous quarter's "election market" peak. For the first quarter ending March 31, the company reported an adjusted net profit of $527 million. Earnings per share were $0.24, significantly lower than the market's expectation of $1.93. Total revenue of $2 billion was slightly below the expected $2.12 billion, down from $2.3 billion in Q4 2024. Coinbase's stock price fell 2.5% in after-hours trading to $201. The stock has dropped about 19% year-to-date in 2025 and approximately 2% over the past year. Related articles: “Portfolio Losses Hit Coinbase Hard: Q1 Net Profit Down 94%, Can the $2.9 Billion Acquisition of Deribit Turn Things Around?”
CZ Discusses Prison Experience: Incarceration Brought Fear and Stress, Will Publish New Book on Life in Confinement
On May 6, Binance founder CZ candidly shared in an interview that his four-month incarceration in the U.S. was "extremely difficult" and "terrifying," stating that he "would not wish that experience on anyone." However, this experience also made him realize the importance of health and family. He recalled feeling intense anxiety and fear when he first entered prison, facing tattooed, loud, and intimidating inmates. His cellmate had been sentenced to 30 years for double murder, but they got along relatively well. Due to his non-U.S. citizenship, he was unable to enter a minimum-security prison. Despite being the founder of Binance and having a billion-dollar fortune, his fellow inmates did not treat him differently. CZ mentioned that many inmates were very friendly, and he still keeps in touch with several of them. Related articles: “Interview with CZ: Once Created a Group with Founders of 10 Exchanges Including FTX, but Regulators Suspected 'Market Manipulation'”
CZ Has Submitted a Pardon Request to the Trump Administration
On May 8, CZ stated in a podcast interview that he formally submitted a pardon request to the Trump administration through his lawyer two weeks ago. CZ emphasized that he submitted the request only after related reports surfaced. In March, The Wall Street Journal reported that representatives of President Trump had held negotiations regarding a stake in the cryptocurrency exchange Binance.US, with possibilities including the Trump family holding shares or trading through World Liberty Financial, and that CZ had been seeking a pardon from the Trump administration.
Meme Coin MIKAMI Officially Launched by Yua Mikami, Dropped Over 87% from Opening High on the Same Day
On May 8, the official meme coin MIKAMI by Yua Mikami was launched, and within about 6 hours of issuance, it dropped 87.21% from its opening high. It is reported that the tokenomics of Mikami has a total supply of 69 million tokens, of which: 20% for initial sales; 15% for liquidity; 10% for the community; 5% for marketing; and 50% for Yua Mikami herself (locked until 2069). Related articles: “Yua Mikami's $Mikami Coin Plummets 85% After Launch, Was the Fan Tuition Worth It?”
Trump to Attend 'Cryptocurrency and AI Innovators' Dinner, Ticket Price $1.5 Million Each
On May 6, according to CNBC, Trump has scheduled two cryptocurrency-themed dinners this month—one for wealthy political donors and another for "meme coin" millionaires. The first dinner is set for Monday, with a fundraising goal of $1.5 million per person, making it one of the most expensive political fundraising events in recent times. The second dinner will take place on May 22, where participants will have the opportunity to connect with Trump's inner circle; however, participation is not through cash donations but by holding TRUMP tokens. Related articles: “Trump's Return to the White House Could Bring in Over a Billion? Senate to Investigate…”, “WSJ: Democrats Are Targeting Trump's Crypto Empire”
China's Central Bank Announces Rate Cuts; People's Bank of China Lowers Re-lending Rate by 0.25 Percentage Points
On May 7, Pan Gongsheng, Governor of the People's Bank of China, announced at a press conference that the bank would cut the reserve requirement ratio by 0.5 percentage points, providing approximately 1 trillion yuan in long-term liquidity to the market. The policy interest rate was also reduced by 0.1 percentage points. On the same day, the People's Bank of China decided to lower the re-lending rate by 0.25 percentage points, effective May 7, 2025. After the cut, the re-lending rates for three-month, six-month, and one-year agricultural and small business loans will be 1.2%, 1.4%, and 1.5%, respectively, while the mortgage supplementary loan rate will be 2.0%, and the rate for special structural monetary policy tools will be 1.5%.
Movement Labs Has Dismissed Co-founder Rushi Manche Following Reports of Token Sell-off Due to Improper Market-Making Agreements
On May 7, Movement Labs announced that it had dismissed co-founder Rushi Manche, and the project will be continued by a new leadership team. Details regarding the leadership changes and the new governance structure will be announced soon. BlockBeats previously reported that on April 30, CoinDesk revealed that a market-making agreement signed by Movement Labs allowed an obscure intermediary, Rentech, to gain control of 66 million MOVE tokens, leading to a $38 million sell-off of MOVE tokens the day after the TGE, prompting Binance to urgently freeze related accounts. Related articles: “Unveiling the Movement Market Maker Sell-off Scandal: Secret Contracts, Shadow Advisors, and Hidden Intermediaries”
This Week's Hot Meme: gork's Market Cap Briefly Surpasses $100 Million Due to Multiple Interactions with Musk
In recent days, Musk has interacted multiple times with grok, changing his nickname and avatar, causing the associated meme coin to surge, with its market cap briefly exceeding $100 million. On May 5, possibly influenced by Musk's change of X avatar, the Solana-based meme coin gork surged over 107% before retreating, with its market cap once reaching $100 million. Related articles: “Meme Frenzy During May Day Holiday: How Did GORK Make Musk Change His Avatar? | 100x Review”
CoinGecko Report: Over 50% of Cryptocurrency Projects Have Failed, Over 1.8 Million Projects Failed in Q1 This Year
On May 6, CoinGecko's latest research report revealed that of nearly 7 million cryptocurrency projects registered since 2021, 3.6 million projects have ceased trading, resulting in a failure rate of 52.7%. The first quarter of 2025 was particularly bleak, with 1.8 million projects failing in a single quarter, accounting for 49.7% of the total historical failures. Analysis pointed out that the token creation platform pump.fun, launched in 2024, lowered the barriers for token issuance, leading to a flood of low-quality projects entering the market. Especially after Trump's inauguration in January 2025, the crypto market experienced increased volatility, further accelerating project eliminations. In contrast, the total number of project failures during the 2021-2023 period accounted for only 12.6% of the failures in the past five years.
Celsius Founder Sentenced to 12 Years in Prison for Crypto Fraud, Forfeits $48 Million and Multiple Properties
On May 9, Coindesk reported that Celsius founder Alex Mashinsky was sentenced to 12 years in prison for crypto fraud, with two counts resulting in sentences of 120 months and 144 months (to be served concurrently for a total of 144 months). Alex Mashinsky agreed to forfeit $48 million and multiple properties. Before Celsius collapsed in 2022, Alex Mashinsky repeatedly lied to investors about the safety of customer deposits. Prosecutors pointed out that he falsely claimed the platform had regulatory approval, insisted that it never issued unsecured loans (which was the opposite of the truth), and profited by manipulating the price of CEL tokens—illegally profiting over $48 million from CEL alone. Alex Mashinsky's negligence and self-serving actions directly led to Celsius's bankruptcy, leaving a massive hole of $1.2 billion (approximately $7 billion at current prices) on the company's books.
This Week's Major Financing Projects Overview: Dinari, Cursor Developers, Sentora, Doppel, NewLimit, Fuze, Sonic Labs, T-Rex
On May 1: Blockchain financial company Dinari announced the completion of a $12.7 million Series A financing round, led by Hack VC and Blockchange Ventures, with participation from VanEck Ventures, F-Prime, and Avalanche Fund. The company's total financing has reached $22.65 million.
On May 6:
- AI-driven code editor Cursor's developer Anysphere Inc. has completed a $900 million financing round at a valuation of $9 billion, led by Thrive Capital, with participation from firms like a16z and Accel. The cryptocurrency exchange FTX was a seed investor in Cursor, but after FTX's bankruptcy liquidation, its liquidation team sold the Cursor shares it held for $200,000. Related articles: “There Are Two 'Effective Altruism Sams' in the AI World, One Enjoying the Spotlight in the Industry, the Other Selling Unicorns in Prison”
- IntoTheBlock and Trident Digital announced a merger to form a new company, Sentora, which will be led by Trident co-founder and former Coinbase risk strategy head Anthony DeMartino. At the same time, Sentora completed a new financing round of $25 million, led by New Form Capital, with participation from Ripple, Tribe Capital, UDHC, and Joint Effects.
- AI-driven social engineering defense platform Doppel announced the completion of a $35 million Series B financing round, led by Bessemer Venture Partners.
- Anti-aging company NewLimit, founded by Coinbase CEO Brian Armstrong, announced the completion of a $130 million Series B financing round, led by Kleiner Perkins.
On May 7, Middle Eastern digital asset startup Fuze completed a $12.2 million Series A financing round, co-led by Galaxy and e& capital. On the 8th, Sonic Labs announced the completion of a $10 million strategic financing round for $S, led by digital asset and data center infrastructure giant Galaxy. On the 9th, Web3 consumer entertainment protocol T-Rex completed a $17 million Pre-Seed financing round.
This Week's Hot Articles
“3 Controversial Images, Soaring to the Top of Kaito's Chinese Region Rankings in 24 Hours”
The editor of Rhythm found that even posts with shallow content and borderline topics can quickly rise to the top of Kaito's points leaderboard, raising questions about the platform's AI content scoring mechanism. Kaito's advocated InfoFi model aims to incentivize quality content through Yap points, reconstructing the way information is disseminated in the crypto industry, shifting marketing from spending to participation, while also giving mid-tier KOLs a chance to rise. However, experiments show that the algorithm may still overly rely on superficial data, making it difficult to thoroughly identify content quality; the actual effects of the Yap model also expose issues such as the Matthew effect, platform dependency risks, and the sustainability of token incentives, necessitating a balance between incentive mechanisms and technical costs.
“The Anti-Scam Movement Intensifies, Yet Clever Scammers Still Earn Thousands Monthly?”
As traditional scam paths gradually dry up and airdrop mechanisms become more opaque, many studios are being eliminated. Keen practitioners are shifting their focus to liquidity spillover opportunities on trading platforms, seeking new avenues through IDO new investments, trading task arbitrage, and platform activity rewards; at the same time, some players are returning to Hong Kong stocks for new investments or engaging in "selling water" and infrastructure services, providing servers, IP, and selling test coins to survive in a more stable manner, reflecting the core rule of the new cycle: only those who quickly adapt and transform strategies can continue to profit in the crypto space.
“The Grudge Between Dingaling and Binance's CZ”
The public conflict between CZ and dingaling has unveiled an unresolved old grudge among crypto elites: boop.fun was supported by Binance Alpha right after its launch, but soon after, CZ publicly criticized it, accusing it of being a former employee dismissed for insider trading. Looking back at dingaling's identity, from NFT whale to suspected founder of PancakeSwap and LooksRare, and then to an FTX-related shareholder and Binance executive, its history is murky. CZ's motives may stem from compliance concerns or personal grudges, while dingaling's lack of response seems more like a silent counterattack under commercial realities—maintaining a delicate balance between the project and the platform. Behind the incident, it reflects that the crypto world is both a profit-driven arena and a complex social network.
“After Taproot, the Most Important Bitcoin Upgrade in Four Years”
Bitcoin core developers have decided to remove the length and quantity limits on OP_RETURN, sparking heated debates within the community. Supporters argue that this move will make on-chain data writing more transparent and cleaner, aligning with Bitcoin's spirit of "simplicity and transparency"; opponents worry it will exacerbate the proliferation of spam transactions, turning Bitcoin into a data storage platform or even a "shitcoin." This change not only has significant technical controversy but also represents a deep game regarding Bitcoin's future role and consensus direction.
“Coinbase Profits from $2.9 Billion Acquisition of Deribit”
Coinbase's acquisition of crypto options leader Deribit for $2.9 billion marks its official entry into the global crypto derivatives market, not only filling its options product line but also significantly enhancing its counter-cyclical profitability. This strategic timing closely aligns with the expected weakening of Q1 financial reports, aiming to stabilize income through options to hedge against the decline in spot trading; at the same time, leveraging Deribit's licensed advantages in Dubai to pave the way for future expansion into the U.S. options market. The market generally views this acquisition as a key step in reshaping the global crypto derivatives landscape, boosting Coinbase's profitability and market share.
SBF was widely involved in the AI and crypto fields as an "effective altruist," from funding cutting-edge research to betting on public chains like Solana and Sui, showcasing a visionary investment outlook. However, the passive liquidation following FTX's collapse led to these potential "unicorn" projects being sold off at low prices, missing out on billions in profits, reflecting the immense tension between ideals and reality, long-termism and risk control.
“Trump's Return to the White House Could Bring in Over a Billion? The Senate Wants to Investigate…”
Trump has deeply engaged in the cryptocurrency market as president, with his meme coin $TRUMP and related companies profiting hundreds of millions in a short time, sparking ethical controversies and Senate investigations; although the White House insists that his assets are managed by the family with no conflicts of interest, there are concerns that he is monetizing his presidential identity on a large scale through digital currencies, stablecoins, branded merchandise, and collaborations with foreign investors, breaking the traditional boundary that past presidents avoided profiting from, forming a "pay-to-play" power trading ecosystem.
Ethereum's PECTRA upgrade includes 11 EIPs aimed at improving network scalability, reducing costs, and enhancing user experience. Key improvements include smart wallets, Rollup optimizations, and enhanced staking features. These changes will drive Ethereum's long-term development, but in the short term, they may put pressure on ETH prices due to increased network efficiency, ETH burn, and reduced transaction fees. Overall, PECTRA represents a significant technological advancement, enhancing Ethereum's competitiveness.
“Bloomberg: Americans Can't Buy TRUMP, Regulatory Questions About Who Can Attend the Dinner?”
The TRUMP token promoted by Trump has sparked significant controversy, with over half of large holders trading on offshore platforms, potentially circumventing restrictions on U.S. users; to attract buyers, the team is promoting the opportunity to dine with Trump as bait, raising ethical and legal concerns. Bloomberg's analysis also indicates that Justin Sun and his associates may be deeply involved, further highlighting the Trump family's layout and potential interests in the cryptocurrency field.
“Unveiling the Crazy Truth Behind the ADL Mechanism, Don't Let Exchanges Easily Take Your Money”
This article explains the automatic deleveraging (ADL) mechanism in the cryptocurrency market, particularly illustrating how ADL compensates for losses by forcibly liquidating profitable clients' positions when market liquidations are insufficient, using $MANEKI as an example. The article mentions that the execution of ADL has many opaque aspects, such as price discrepancies and delayed executions. The author points out that understanding liquidation and the ADL mechanism is crucial for a deeper understanding of the crypto market and encourages readers to provide feedback to improve the explanation.
“From Virtuals to FARTCOIN, How to Position for the Next Wave of DeAI?”
This article discusses the market dynamics of AI tokens, particularly the performance of tokens like $AVA, $FARTCOIN, and $PROMPT. The author notes that the AI token market remains full of uncertainties and carries high investment risks. Nevertheless, developers and market participants continue to drive innovation, especially as Coinbase may join some leading AI tokens. The sales of Virtuals and Genesis are significant developments that have garnered widespread attention.
The escalating tensions in U.S.-China relations and geopolitical conflicts are profoundly changing the global financial order. On one hand, the dollar is facing a loss of trust due to the U.S.'s high interest rate policies and political uncertainties, accelerating the wave of de-dollarization; on the other hand, China is systematically laying out a multipolar financial system by reducing exposure to U.S. debt, promoting the internationalization of the yuan, and building the CIPS payment system. Meanwhile, in the context of a fragmented traditional financial system, stablecoins, CeDeFi, and tokenized assets are becoming new hubs of global liquidity. Blockchain not only provides a value channel to bypass geopolitical risks but is also increasingly evolving into a neutral foundation for future global financial infrastructure.
“From Satoshi Nakamoto to SBF: Who is Stealing the Soul of the Crypto World?”
This article explores the distinction between cultural builders and cultural destroyers. Cultural builders, like Satoshi Nakamoto, promote cultural development through ideas, community participation, and values, ensuring the continuity of culture; whereas cultural destroyers, like SBF, pursue personal interests, exploiting culture for profit, ultimately undermining the foundations of community and culture. The article emphasizes that the culture of a community is not built through a single event or individual, but through the collective efforts and protection of everyone. The power of culture comes from defending and passing on its values, rather than from selfish manipulation and exploitation.
“From Certain Optimism to Certain Pessimism: Real Opportunities Lie After Disillusionment”
The crypto industry is undergoing an evolution from idealism to pragmatic compromise, transitioning from the certain optimism of Bitcoin to the uncertain fantasies of Web3, and now to the certain pessimism under the parallel of meme coins and regulation; although the industry appears increasingly standardized and conservative on the surface, the real frontier opportunities may be hidden in this seemingly mundane and disillusioned fringe, waiting for investors who dare to question and reconstruct rather than chase illusions.
In the spring of 2025, Bitcoin is evolving from a speculative asset to a "strategic asset" on the balance sheets of global enterprises: companies like MicroStrategy and GameStop are spending billions to position themselves in digital gold, 21 Capital is bridging traditional finance and crypto capital, and Asian companies like Metaplanet are following closely behind due to policy benefits; driven by brand reshaping, inflation hedging, and policy support, Bitcoin is gaining mainstream recognition at an astonishing speed, quietly initiating a revolution in asset allocation across the financial system.
“WSJ: Democrats Target Trump's Crypto Empire”
Democratic lawmakers are fiercely pushing back against the Trump family's profit-making through cryptocurrency, arguing that their actions constitute conflicts of interest and even national security risks, and are calling for amendments to the stablecoin legislation known as the "GENIUS Act"; Trump's company World Liberty has reached a $2 billion agreement with an Abu Dhabi fund to promote the issuance of the USD1 stablecoin, raising congressional concerns about his use of presidential identity for commercial profit, exacerbating partisan divisions and uncertainties in crypto regulatory legislation.
“Vitalik's Blog: How to Make Ethereum in Five Years as Simple as Bitcoin”
To realize the vision of a global ledger, Ethereum is promoting protocol simplification, suggesting a comprehensive reduction of complexity and attack surfaces from the consensus layer (such as 3-slot finality, STARK aggregation) to the execution layer (replacing EVM with RISC-V, etc.); at the same time, through on-chain compatibility mechanisms, unified erasure codes, serialization formats, and tree structures, it aims to gradually align the number of consensus code lines with Bitcoin levels to enhance resilience, reduce costs, and expand developer participation, ultimately culturally establishing a new consensus that "simplicity equals security."
In this in-depth interview, CZ reflects on his imprisonment experience and shares his reordering of health, family, and career, expressing concerns about the overheating of meme coins and emphasizing a future focus on long-term value directions such as AI, real-world assets (RWA), and scientific research; he remains optimistic about Bitcoin, predicting it could reach $500,000 to $1 million, believing that decentralized exchanges will eventually surpass centralized trading platforms; he criticizes the negative impact of false reports from traditional media and reveals that he will not return to a management position at Binance, but hopes to continue promoting industry development through investment, education, and mentoring roles.
In the two years since the Sui mainnet launch, it has transformed from a controversial project with an initial absence of airdrops and declining token prices to one of the most notable new public chains in this bull market, ranking ninth in DeFi TVL, with its native token SUI's market capitalization soaring to sixth in the industry, thanks to its continuous token incentives, precise wealth effect creation, strong control over supply and market capitalization management, official incubation of unicorn projects, community culture building, and rapid learning and replication of Solana's successful experiences.
“KOL Manipulates Token Presale to Cut $150,000, Social Experiment Behind Meme Market Collapse”
This article tells the story of two KOLs in the crypto space—Books and Shillin Villain—who used token presales for a "social experiment." The tokens they launched, such as $COPE and $POGE, had most of their supply controlled by the team, leading to a rapid collapse in token prices after issuance. They also launched early access passes (0.5 SOL, 1,000 supply) to provide opportunities for users wanting to participate in the token issuance early. The two repeatedly manipulated the market by controlling token supply, ultimately causing token prices to plummet and resulting in investor losses.
“150 People Earn $14 Billion: How Tether Built a 'Crypto Printing Machine'?”
Tether achieved a profit of $14 billion with just 150 people, with its core secret lying in a "simple yet powerful" stablecoin model and a deep understanding of global dollar demand. The USDT it issues has not only become the preferred safe haven in emerging markets but also generates continuous cash flow through U.S. Treasury bonds, and by collaborating with primary dealers like Cantor, it has gained a rare liquidity advantage. Even more remarkably, Tether reinvests its profits into infrastructure development, AI, P2P communication, and other cutting-edge technology projects, while remaining loyal to the original crypto ethos—empowering individuals and pursuing technological freedom. Beyond stablecoins, it resembles a future company with a vision of stability.
“Is Bitcoin Decoupling from Traditional Markets?”
Bitcoin is gradually detaching from the operational track of traditional assets, with its correlation to gold and stocks approaching zero. This decoupling phenomenon often occurs during macro changes or market shocks, indicating that Bitcoin is forming its own independent price logic. In the past, Bitcoin resembled a high Beta risk asset, deeply influenced by interest rates, but now its volatility has decreased to levels close to tech stocks, with asset characteristics maturing. It is neither a complete safe haven asset nor a simple leverage tool, but is slowly revealing a unique asset identity amid shifts in global liquidity and risk appetite. Bitcoin may be moving towards becoming "a class of its own."
“Behind the AI Boom, How Short-Term Speculation Can Feed Long-Term Fundamentals?”
The recent surge in the AI Agent sector has been primarily driven by the Virtuals platform, which ignited speculative enthusiasm through its innovative Genesis Launch model: by employing a points mechanism, starting with fixed valuations, and gamified launch designs, it significantly lowered the barriers to token issuance, allowing almost all projects to "take off," regardless of quality. The market is shifting from focusing on the projects themselves to betting on "structural design," rather than long-term value. Meanwhile, DeFi projects are gaining new opportunities from the traffic of this ecosystem, and the mechanism of driving revenue through trading volume is beginning to replicate the Ponzi-style experiments once seen on Ethereum. While retail investors are actively participating, institutions clearly prefer the underlying infrastructure sector, concentrating on high-barrier, model-heavy decentralized AI Infra projects. The current optimal strategy is to engage in short-term speculative project arbitrage, gradually reallocating profits to DeAI Infra teams that combine technology and narrative, waiting for the next wave of projects with real product strength and competitive moats to emerge.
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