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.
Review of 2025 and Outlook for 2026
The year 2025 was a dramatic and watershed year for the public chain sector in the crypto world. If 2024 was a "carnival night" where various new public chains competed with high airdrop expectations and grand narratives, then 2025 was the "waking moment" after the carnival.
PANews Crypto Year-End Review: Understand Asset Returns from 2015–2025 in One Chart!
As BTC is no longer the default "annual optimal solution," crypto is transitioning from a high-growth asset to a risk asset that is repeatedly compared and strictly priced.
IOSG Founder: Bitcoin Experiences Historic Turnover, Optimistic About the First Half of 2026
Key points to watch in 2026 include: legislative progress on market structure bills, the possibility of expanding strategic Bitcoin reserves, and policy continuity after the midterm elections.
Messari 2026 Crypto Trends Report Highlights: From Currency Narrative to "Disruption Factor"
The year 2026 will be a key year for cryptocurrencies to shift from "speculation" to "system-level integration."
Looking Back at 2025: The Top Ten Influential Figures in the Crypto Industry
A review of influential figures in the crypto industry in 2025: Trump becomes the first "crypto president" promoting regulation, SEC Chairman Atkins shifts to pro-crypto policies, Vitalik leads Ethereum upgrades, Saylor aggressively buys Bitcoin, and Tether CEO Ardoino expands global operations.
The main storyline of the crypto derivatives market in 2025 is the transition from high-leverage retail speculation to a repricing that evolves in parallel with institutional capital, compliant infrastructure, and on-chain technology.
For more related content, please visit the special topic—Seeing Through the Fog: Review of 2025 and Outlook for 2026
Macroeconomic Perspective
What Happened to the Once Flourishing Metaverse?
Compared to other metaverse paths, the metaverse ecosystem that integrates cryptocurrencies and NFTs carries a heavier historical burden.
Don't Waste Every Loss: The "Sisyphus Revelation" of the Crypto Market
One of life's greatest pains is witnessing months or even years of effort go to waste overnight.
Stablecoins are Just the "Catfish" of Banks, Not the "Terminator"
This article reinterprets stablecoins from a banking perspective. They may not be a threat but rather a catalyst that forces the financial system to renew itself.
The Trillion-Dollar Stablecoin War: Binance Decides to Re-enter the Game
Stablecoins have transformed from a supporting role in cryptocurrencies to a key infrastructure in the global financial system.
With Gradual Hawkish Signals from the Bank of Japan, Where Do Risk Assets Go?
The Bank of Japan raised interest rates by 25 basis points to 0.75%, the highest since 1995, marking the end of the ultra-loose era. The market reacted calmly, with inflation data supporting the rate hike, which may become a turning point for global risk asset liquidity.
Transformations in the U.S. Crypto Industry One Year After Trump's Administration
Given this, what kind of transformation does the U.S. actually want to implement?
AI Boom
Six Major AI Paradigm Shifts in 2025: From RLVR Training, Vibe Coding to Nano Banana
AI guru Andrej Karpathy reviews six major paradigm shifts in the AI field in 2025, including the wildly popular Google Nano Banana and the learnable Vibe Coding.
You will find that artificial intelligence is simultaneously presenting two completely different yet intertwined forms. One is like a "lighthouse" high above the coast, while the other is like a "torch" held in hand.
A $30 Trillion Gamble and Global Diffusion: The Polarized Narrative of AI in 2026
Capital expenditure on AI infrastructure is expected to reach $30 trillion, with current deployment at less than 20%.
AI Era: When the "Difference Between Humans and Dogs" Shrinks to "Difference Between Humans"
Everyone has heard the saying that the gap between people can sometimes be greater than that between humans and dogs. However, this saying was born before the current wave of AI.
Reinforcement Learning: The Paradigm Shift of Decentralized AI Networks
The real opportunity of reinforcement learning × Web3 lies not in replicating a decentralized version of OpenAI, but in rewriting the "intelligent production relationship."
Web3 Matters
With the rapid advancement of quantum computing technology, Bitcoin's vulnerability to being cracked is said to be reduced to merely an "engineering challenge," a conclusion that has sparked division within the community. Meanwhile, many crypto projects are already taking precautions and actively exploring and deploying defenses against quantum attacks.
The U.S. "Kill Line" Shatters Dreams, Crypto "Kill Line" Reduces Values to Zero
The heated discussion around the kill line marks a moment of shattered American dreams and should also signify the awakening of crypto dreams.
Aave is caught in a governance crisis: disputes over front-end fee distribution have triggered a power struggle between the DAO and the development team, exposing the core contradictions between DeFi decentralization and commercial interests, with token prices falling and whales exiting, testing the maturity path of the protocol.
Snowball: A Meme Coin Experiment That Prevents Developers from Running Away with 20x in 2 Days
How did Snowball achieve a market value of tens of millions through "automated market making"?
Telegram's Indulgence, Tether's Silence: The Largest Black Market Carnival in History
Once, online black markets were hidden in the shadows of the dark web. Now, they have moved to public platforms like Telegram and accumulated historic illegal wealth.
A Trading Card Sold for Millions? The Influencer Effect and 30 Years of Pokémon Fan Economy
The "Pikachu Illustrator" is estimated to sell for between $7 million and $12 million, potentially setting a new price benchmark for Pokémon collectibles.
Entrepreneur's Narrative: From Start to Abandonment, Why I Stopped Doing Web3 Payments
When I truly made the decision to stop pursuing Web3 payments, there wasn't a strong sense of "finality." It felt more like a journey of exploration had finally reached a point where it was time to stop.
Save 18% on Hotel Bookings with USDT: Trip.com's Overseas Version Promotes Stablecoin Payments
Trip.com, the overseas version of Ctrip, is quietly entering the stablecoin payment space.
Under the Incentive Bubble, Who Will Pay for the False Prosperity of Lighters?
In this airdrop frenzy, how much of the growth is real, and how much is just a fleeting illusion of the incentive bubble? Does the Perp DEX track really possess sustainable value?
Key News
Last week, the number of initial jobless claims in the U.S. was 214,000, below market expectations
Vitalik Predicts: Bug-Free Code Will Be Achieved in the 2030s
HashKey Capital's fourth fund completes $250 million in initial fundraising
Hong Kong police: 15 people arrested in a 1 billion yen virtual currency exchange robbery case
Hong Kong brokerage Victory Securities restricts mainland IP accounts from buying virtual assets
Nano Labs Founder: Bitcoin bear market bottoms often occur around Christmas
Yili Hua: A major bull market is expected in 2026, with $1 billion continuing to buy ETH on dips
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