On the evening of June 27, 2025, at 19:30, the 14th episode of "Unprotected in the Crypto Circle," co-hosted by Techub News, Uweb, and Chain Intelligence, ignited the enthusiasm of the Web3 community as scheduled. This program, characterized by open dialogue, was co-hosted by Techub News presenter Krystal and Chinese Web3 professional host Qie Ge, inviting three guests: Joe, CFO of HAG; Jerry, founder of m&WDAO; and Henry, compliance consultant at Shanghai Mankun (Shenzhen) Law Firm. The program delved into topics such as the integration of Web3 and traditional finance, the centralization vs. decentralization debate of stablecoins, the impact of Trump’s policies, the evolution of DAOs, and the value of Dogecoin, providing the audience with a feast of intellectual collision.
Integration of Web3 and Traditional Finance: Hong Kong's Policies Ignite a New Engine
The integration of Web3 and traditional finance has become a hot topic in the industry. With the rapid advancement of RWA (Real World Assets) and stablecoin policies, Hong Kong is becoming a bastion for global Web3 development. The guests unanimously agreed that integration is not only a catalyst for capital inflow but also an essential path for the digital transformation of the global economy. However, balancing compliance and innovation remains key.
Joe, drawing on HAG's compliance experience in North America, pointed out that Hong Kong's policy breakthroughs in RWA and stablecoins have sparked market enthusiasm, causing crypto concept stocks to rise. He emphasized that Trump's "Genius Act" breaks down the financial barriers between traditional finance and Web3, injecting liquidity into the industry. Joe believes that Hong Kong's compliance framework is the first step towards a bright future, but more native tokenized assets need to be realized to bridge the cognitive gap traditional industries have regarding crypto assets. From a media perspective, Joe's views reveal how compliance can open the doors of traditional finance to Web3, with Hong Kong's policy dividends becoming a focal point of global attention.
Jerry approached the topic from the grand narrative of civilizational iteration, stating that the integration of traditional finance and the crypto world will be the main theme for the next 5-10 years, with Hong Kong's RWA policy providing a strategic opportunity for the digitalization of the Renminbi. He warned that while integration is important, the development of the native Web3 market is more crucial for long-term competitiveness, and Hong Kong needs to increase investment in the native ecosystem. Jerry's m&WDAO is dedicated to uniting industry builders to promote technological breakthroughs. From a media perspective, Jerry's discourse highlights Hong Kong's unique positioning in the global Web3 landscape, and his call for a focus on the native market serves as a wake-up call for innovation in the industry.
Henry analyzed the situation from a legal compliance perspective, stating that centralized regulation is the cornerstone for attracting traditional capital. The Hong Kong stablecoin bill provides a sandbox space for the industry to land. He believes that the decentralized foundation of Web3 is unshakeable, but current centralized governance can better stimulate market confidence. Henry's views underscore Hong Kong's leading position in the global Web3 regulatory race. From a media perspective, his analysis provides clear guidance for practitioners: compliance is the passport for integration, but caution is needed against the erosion of the spirit of Web3 by excessive centralization.
The Centralization vs. Decentralization Debate of Stablecoins: The Game of Trust and Efficiency
As a bridge between Web3 and the real world, the choice between centralization and decentralization of stablecoins has sparked heated discussions. The guests believe that centralized stablecoins, backed by regulation, have greater market trust and liquidity, but the decentralized concept remains the soul of Web3. The industry needs to find a balance between the two to address the dual challenges of global payments and the digitalization of sovereign currencies.
Joe is optimistic about centralized stablecoins like USD1, as they are backed by the Trump family and government support, providing strong trust backing suitable for the current market's demand for liquidity. He believes that the decentralized payment scenarios of Dogecoin have been replaced by stablecoins, and centralized institutions are more easily accepted by traditional finance due to their reputation. From a media perspective, Joe's stance reflects the market's real demand for trust and efficiency, with the heated discussion around USD1 highlighting the amplifying effect of political influence in the crypto market, reminding the industry to pay attention to the rising trend of compliant stablecoins.
Henry believes that centralized stablecoins (like USDC) can better meet the liquidity needs of payment scenarios due to regulatory intervention and capital reserves, addressing risk issues (like the Luna collapse). He points out that while decentralization is the foundation of Web3, centralized governance currently attracts the public and capital more effectively. The Hong Kong stablecoin bill provides a compliance opportunity for the industry. Henry emphasizes that stablecoins need to establish trust in commercial scenarios, and while centralized models have short-term advantages, the decentralized concept cannot be abandoned; both need to be balanced through technological breakthroughs and educational outreach.
Jerry analyzed from the perspective of the digitalization of sovereign currencies, stating that the Hong Kong dollar stablecoin has strategic significance in the internationalization of the Renminbi, needing to counter the hegemony of the US dollar (like USD1). He pointed out that the core value of stablecoins lies in the digitalization of sovereign fiat currencies, not just in commercial payment scenarios. Jerry emphasized that Hong Kong's RWA and stablecoin policies provide a foundation for integration, but the spirit of decentralization remains the future of Web3. He believes that stablecoins need to combine blockchain and AI to promote the construction of a digital civilization order, and m&WDAO is committed to uniting Web3 builders to explore new economic forms through decentralized mechanisms, striving for a place in the global game.
The Impact of Trump's Policies on Web3 and the Global Economy: Business Logic Reshaping the Industry Landscape
Trump's policies (such as pardoning the Silk Road founder and issuing USD1) have become a catalyst for breaking through in Web3, with his business logic and political maneuvering extending the life of the US economy while reshaping the global financial order. The guests analyzed the controversies and opportunities of his dual identity, revealing the industry trends driven by policy.
Joe believes that Trump's "Genius Act" connects traditional finance and Web3 through a compliance framework, solving the US debt issue and expanding the "bubble" of the global economy. He pointed out that Trump's policies alleviated the liquidity crisis following FTX, promoting the transformation of the digital dollar, with his business mindset accurately capturing market pain points. From a media perspective, Joe's analysis reveals the short-term benefits and long-term impacts of Trump's policies on Web3, with the acceleration of dollar digitalization potentially reshaping the global financial landscape, reminding the industry to be wary of the bubble risks driven by policy.
Henry noted that Trump embodies both "athlete and referee," and the USD1 issued by his family has sparked regulatory controversy, but his high-profile involvement effectively promotes the industry’s breakthrough, attracting attention from non-Web3 circles. He believes that Trump captures public attention through meme coins and stablecoins, accelerating the transformation of the digital dollar. Media interpretations suggest that Henry's views highlight the driving force of Trump's marketing strategy for industry popularization, but his dual identity also raises alarms for regulatory transparency, reminding the industry to balance policy dividends with compliance challenges.
Jerry emphasized that Trump's policies strengthen the digitalization of the dollar, which may solidify dollar hegemony and have profound impacts on the sovereign world economic order. He called for Hong Kong to promote the internationalization of the Renminbi through the Hong Kong dollar stablecoin, striving for a place in the global game. Jerry's m&WDAO is dedicated to uniting Web3 builders to construct a digital civilization order by combining AI and blockchain. From a media perspective, his discourse places Trump's policies within the grand narrative of global financial competition, highlighting Hong Kong's strategic opportunities and reminding the industry to maintain original innovation amidst the policy wave.
The Evolution of DAOs and the Development of the Native Web3 Market: From Concept to Tool Transformation
DAOs have evolved from early decentralized utopias to project management tools in Web3, with their potential in uniting industry builders and promoting the integration of blockchain and AI drawing significant attention. The guests believe that DAOs need to adapt to integration trends while upholding the core values of native market development.
Jerry pointed out that DAOs have transformed from concept-driven (like the early Ethereum DAO) to Web3 management tools, with m&WDAO on a mission to unite builders and promote the combination of blockchain and AI to construct a digital civilization order. He believes that Hong Kong's RWA policy provides a foundation for integration, but the development of the native market is more critical, requiring technological breakthroughs and ecosystem building. From a media perspective, Jerry's views provide direction for the future of DAOs, and his emphasis on the integration of AI and Web3 signals new trends in the industry, with Hong Kong needing to address the shortcomings of the native market to maintain competitiveness.
Joe believes that DAOs represent the spirit of decentralization, but their appeal has diminished under the current bear market and centralized capital dominance. He predicts that after market maturation, DAOs may revive due to the demand for order, evolving into mechanisms that integrate centralized efficiency with decentralized spirit. Joe emphasizes that the long-term value of DAOs lies in community governance, while in the short term, they need to adapt to compliance requirements. Media interpretations suggest that Joe's analysis reflects the market's real pursuit of efficiency, with the trend of DAO integration providing a path that balances ideals and reality for the industry.
Henry pointed out that while DAOs embody decentralized thought, they currently require centralized governance to attract capital due to the public's insufficient understanding of consensus. He believes that Hong Kong's 2.0 declaration, through funding startups and industry-academia cooperation, provides fertile ground for DAO development, and the enthusiasm of the post-00s generation for blockchain will drive technological breakthroughs. From a media perspective, Henry's views showcase the potential of DAOs under the influence of education and technology, calling for the industry to balance the inheritance of decentralized ideals amidst the wave of integration.
The Current State of Dogecoin and Decentralized Consensus: The Lasting Life of Meme Culture
As a symbol of decentralized spirit, Dogecoin's payment function has been replaced by stablecoins, but its community consensus and technological upgrades still hold appeal. The guests analyzed its value from different angles, highlighting the unique charm of Web3's native culture.
Joe believes that Dogecoin's PoW mechanism and payment scenarios have decentralized appeal, but its narrative has been supplanted by stablecoins, leading to a decline in market competitiveness. He emphasized that PoW provides a sense of trust, but Dogecoin's meme attributes and low unit value limit its development, requiring more application scenarios for support. From a media perspective, Joe's analysis reveals the narrative dilemma Dogecoin faces amidst the stablecoin craze, reminding the industry to redefine the market positioning of meme coins.
Henry admitted to holding a small amount of Dogecoin, viewing it as a symbol of community consensus, stemming from meme culture and retail investor momentum. He believes that while Dogecoin's payment function has been replaced by stablecoins, its cultural value (such as the "Home Cat and Dog" project) endows it with lasting vitality. Henry emphasized that Dogecoin represents the spirit of decentralization and requires technological upgrades to maintain its position. From a media perspective, his views highlight the significance of community-driven efforts for Web3 culture, suggesting that Dogecoin may become a symbol of native spirit.
Jerry added insights into the technological upgrades and ecological governance efforts of the Dogecoin community, such as the protocol development following the CZZ community's consensus conference in May. He believes that Dogecoin's decentralized consensus aligns with the m&WDAO philosophy, and future technological breakthroughs could enhance its ecological value. From media interpretations, Jerry's sharing injects an optimistic technological perspective into Dogecoin, highlighting the unique value of Web3's native community amidst integration trends.
Conclusion
The 14th episode of "Unprotected in the Crypto Circle" opened a new chapter in the Web3 industry through open dialogue, from Hong Kong's policy dividends to Trump's global influence, from the trust game of stablecoins to the native values of DAOs and Dogecoin. The diverse perspectives of Joe, Jerry, and Henry provide profound insights for the industry. Techub News calls on the audience to join the discussion group to access the latest summary articles and participate in the ticket lottery for the August Hong Kong Bitcoin Asia Conference, witnessing the future direction of Web3 together. We look forward to the next episode of Space igniting another storm of ideas!
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
