Weekly Highlights丨The U.S. government ends the shutdown; intense debate on bullish and bearish views; Bitcoin continues to decline, falling below $100,000.

PANews Editor's Note: PANews has selected high-quality content from the week to help everyone fill in the gaps during the weekend. Click on the titles to read.

Macroeconomic Perspective

Full Text of Buffett's "Last Letter": I Outperformed the Stock Market, But Not Time

He admits that he has been favored by "Lady Luck" throughout his life, as if he "drew an unusually long straw."

After the 1011 Great Liquidation, Bitcoin Bull Market Will Restart

This round of sell-off has restored the market's leverage levels to a healthier structural state, which may support mid to short-term trends. In the coming months, a slow rise is more likely than a direct surge to historical highs.

Why Might the "Four-Year Cycle Theory" Be Wrong? Using Bayesian Formula to Calculate Market Risks at the End of 2025

Tactical defense is needed rather than strategic retreat.

Will the Market Definitely Rebound After the Shutdown Ends? Reviewing the Performance of U.S. Stocks, Gold, and BTC After Previous Government Reopenings

The 42-day shutdown is about to end, but this is not the conclusion; it is the beginning of a new round of market changes.

Latest Speech by SEC Chairman: Goodbye to "One-Size-Fits-All," Four Types of Token Regulation Standards Will Be Established

The SEC Chairman further elaborated on the "Project Crypto" initiative, delineating new boundaries for token classification and regulation.

Exclusive Interview with Tom Lee: Market Volatility but the Bull Market is Far from Over, Ethereum Expected to Reach $12,000 by January

"2026 should not be seen as a bear market year; the market is at a critical node of the AI super cycle, Bitcoin may break $200,000 by the end of the year, and Ethereum is expected to more than double."

Latest Actions by the U.S. CFTC: Promoting Cryptocurrency Margin Trading, Allowing Stablecoins as Collateral

Caroline Pham, acting chair of the U.S. Commodity Futures Trading Commission, has been personally meeting with regulated exchanges to push for the opening of spot crypto products to retail investors.

AI Boom

x402 Track Panorama: Launchpad Innovation, Facilitator Chaos, and Provider Infrastructure

A number of competitors have emerged in the segmented tracks of Launchpad, Facilitator, and Provider.

As a Facilitator, How Should PAYAI Build a Positive Flywheel?

How to shed the pure "tool attribute" and become a "value routing node of the payment network" is a long-term exploration topic worth pursuing.

From Application Layer to Infrastructure, Warden's Full-Stack AI Strategy

While other projects focus on single-point breakthroughs, Warden chooses to combat cyclical fluctuations through ecological synergy.

Seizing Opportunities

Established Projects Defy Market Trends! Average Monthly Increase of 55%, What Are the "New Sprout" Narratives Behind?

As the crypto market weakens, 11 established projects have risen against the trend, with an average increase of 55.3% over 30 days. ZEC, ICP, and others lead the way, driven by multiple factors such as market calls, technological upgrades, ecological construction, and token empowerment, but they are still generally down 90% from historical peaks.

Building New Infrastructure for Stablecoin Forex: Analyzing the Three Major Innovative Paths of Numo, Mento, and ViFi

A deep dive into the potential of the stablecoin forex market and its participants.

Guaranteed Profit? A Review of the Eight Most Popular New Projects Recently

In the current market, bottom-fishing is less favorable than participating in new projects.

Mainnet Launch: An Overview of the Monad Ecosystem

Perp DEX and prediction markets are key areas of focus.

Detailed Look at the Unique Aspects of Uniswap's New Auction Protocol CCA

CCA, as an on-chain native solution, provides a transparent and fair auction mechanism, helping project parties gradually release supply, achieve progressive price discovery, and automatically inject liquidity into the Uniswap v4 liquidity pool at the end of the auction.

Web3 Matters

Uniswap's Major Proposal Launched: Activating Fee Switch and Burn Mechanism, Competitors Call It a "Strategic Mistake"

Uniswap initiated the UNIfication governance proposal, officially activating the protocol fee switch and starting the UNI burn mechanism, with an expected annual burn value reaching hundreds of millions of dollars. This move will transform UNI from a governance token into a revenue-generating asset, and after the announcement, UNI's price surged, but it may reduce liquidity providers' earnings.

Reflections on DeFi: Four Stablecoins Went to Zero in a Week, Firmly Saying NO to "Dark Box Operations"

The collapse of the yield-bearing stablecoin xUSD issued by Stream caused a loss of $93 million, triggering a $285 million bad debt crisis in the DeFi market, exposing the transparency traps of the CeDeFi model and the risk amplification issues of the Curator mechanism.

NEAR's Intent Layer Earns $400,000 Daily, Why Is the L1 Mainnet Still "Starving"?

NEAR's intent layer activities have surged recently, with daily transaction volumes exceeding $200 million and fees surpassing $400,000 at one point. Will NEAR rise again because of this?

Tether's Golden Empire: The Ambitions and Cracks of a "Borderless Central Bank"

Tether is building a "borderless central bank" with U.S. Treasury bonds as the profit engine and gold and Bitcoin as the "hardcore" of value. Behind this seemingly perfect business empire, is such a vision really feasible?

One Month Countdown! Analyzing the Nine Most "Popular" Proposals in the Ethereum Fusaka Upgrade

How will the Fusaka upgrade affect Ethereum? What specific changes will the mainnet undergo?

From AI to Crypto: The Comeback Journey of Lighter's Genius Founder

Genius founder + top Silicon Valley capital, Lighter is launching an attack on Hyperliquid.