Is Tether an indestructible fortress or a shaky giant?

The story of RWA does not originate from technology, but rather sprouts in the small cracks of the times. Whether it's Bowie sharing royalties with listeners, Pixar allowing creators to share in the success of films, Bordeaux wineries opening up vintage claims early, or an ordinary person breaking their life into a hundred thousand pieces, these cross-domain choices have quietly changed the direction of value flow. Once, music, film, vintages, and destinies were in the hands of institutions, and ordinary people could only consume without the right to own. These stories have allowed value to overflow from a closed structure for the first time, flowing towards those who truly love, believe in, and are willing to get close to it. Their significance lies not in financial models, but in reminding us: value can be dismantled, the future can be shared, and people can reconnect through shared experiences and choices over a certain period of time. The core of RWA is to bring value back to the people. True change is growing from these small yet real cracks.

Aethir's core vision has always been to drive global users towards achieving universal and decentralized cloud computing capabilities.

Introduction In the past, we introduced Tether, the number one issuer of stablecoins. On November 26, a Jefferies analysis report showed that Tether currently holds 116 tons of physical gold, becoming "the largest holder of gold in the world outside of central banks," with reserves nearing those of central banks in countries like South Korea, Hungary, and Greece. The company plans to increase its holdings by another 100 tons by 2025 and has invested over $300 million in precious metal producers through RWA, with the market value of the issued gold-backed stablecoin Tether Gold (XAUt) surpassing 2...

BBW has become a barometer for connecting industry silos and achieving efficient flow of knowledge and resources. It not only records trends but also continuously drives trends to occur. It observes the industry and also shapes the industry.

1. On-chain funds: Today, $91.9M flowed into Ethereum; $89.1M flowed out of Hyperliquid 2. Maximum price fluctuation: $A8, $OOB 3. Top news: The probability of the Bank of Japan raising interest rates in December has soared to 85%, and tightening of monetary policy has become almost certain.

What kind of company should HashKey be regarded as?

Using charity for false publicity is not an isolated case in the history of public figures.

Author: Clow With a market capitalization of $184 billion, Tether (USDT) is the cornerstone of liquidity in the crypto market, with daily trading volumes often exceeding the combined total of Bitcoin and Ethereum. However, this dollar empire is facing an unprecedented triple crisis. In the fourth quarter of 2025, Standard & Poor's downgraded its rating to the lowest "weak" level; BitMEX founder Arthur Hayes warned that a 30% drop in gold and Bitcoin holdings would lead to its bankruptcy; the United Nations and consumer organizations accused USDT of becoming a network for scams, money laundering, and sanctioned entities in Southeast Asia.

Let's take a look at the old investors; what are the impressive ways they have lost money in the crypto industry?

Ethena's USDe stablecoin TVL has halved from $15 billion to $7 billion due to the retreat of leveraged arbitrage and the termination of ecological projects. The protocol is shifting towards a white-label strategy, collaborating with Sui and Jupiter to expand infrastructure services, and has received investment from Multicoin, seeking to transition from high-yield savings to stablecoin infrastructure.

Essentially, HashKey and Coinbase play the same role: both are key bridges connecting the traditional financial world with the new realm of cryptocurrency. They have chosen the path that seems the most difficult yet the most sustainable—compliance-based operations.

Games have become more efficient, the value extraction mechanism has matured, and attention has become more fragmented.