Been looking around and realized no one in the Chinese community is talking about acx. 1. Planning to convert into a private company, with a buyback floor price of $43m. The first company to completely abandon the DAO governance model, also casually tearing off the emperor's new clothes of DAO. 2. Paradigm recovered $41m. When they invested last year, I was already wondering how they could afford it, and yet the token price kept plummeting. Later, seeing them continue to invest, it’s clear they truly believe in payments. Payments are backed by stablecoins, and crcl’s big reversal this time is also riding on the expectations around agent payments. 3. This might be an opportunity for a valuation reassessment. After all, the downside is limited, and the upside depends entirely on how the project team guides expectations. Essentially, it’s betting on the whales—betting on whether the project team wants to cash out, and betting on whether the project team can deliver some insanely, ridiculously, mind-blowingly epic expectations.