Blockchain

This article uses the ANCHORING EFFECT to explain why traditional investors overlook Wall Street’s on-chain wave. It argues that investors should broadly position across PUBLIC CHAINS, DEFI, and INSTITUTIONAL INFRASTRUCTURE rather than attempting to predict a single winner, in order to capture the ALPHA created by the cognitive gap between the “punk narrative” of crypto and its evolution into CAPITAL MARKETS INFRASTRUCTURE. The author draws a parallel to the excess return opportunity he captured in 2018, when lingering perceptions shaped by MT. GOX enabled an early entry into the market.

The article begins with Tether's remarkable $13 billion net profit in 2024, analyzing its ultra-high ROE model. It further examines how stablecoins are poised to break through SWIFT's high fee barriers and enable instant global payments in just 30 seconds. The discussion then extends to predictions on the rise of Pay-Fi, Tether's investments in mining, AI, and robotics, and the regulatory tailwinds from GENIUS and MiCA.

Amid a downturn in crypto market sentiment, Stripe’s 2025 annual letter delivers a markedly different outlook: stablecoins are accelerating toward the core of the real economy. Bridge transaction volume has surged fourfold, Privy enables hundreds of millions of programmable wallets, the payment-focused Tempo chain has launched its testnet, and stablecoins are rapidly penetrating B2B settlements. Collectively, these trends are sketching out a next-generation global payments and financial infrastructure blueprint—centered on stablecoins and AI Agents.

From Bitcoin congestion cycles, to the peaks of Ethereum DeFi and NFTs, and the Solana memecoin frenzy, why do L1 fee booms always prove short-lived? Based on on-chain data research from Pine Analytics, this article systematically analyzes the revenue structures of BTC, ETH, SOL, and Hyperliquid, revealing the cyclical mechanism of “demand surge — innovation compression — profit clearing” in open networks. It also raises a key question: when transaction fees no longer support valuations, what can token prices rely on next?

In a crypto world that emphasizes “Don’t trust, verify,” hiring still largely follows traditional screening logic based on academic credentials and big-tech résumés. Drawing on observations from Ben Wu, a partner at Andreessen Horowitz, this article proposes a “verification-first” hiring approach for Web3: using on-chain records, open-source contributions, and verifiable outputs as the primary signals of talent. The goal is to prioritize capability verification upfront rather than relying on background-based inference. In an industry built on transparency and verifiability, talent evaluation should also return to the core spirit of crypto.

In just seventy-two hours, Anthropic confronted a Pentagon ultimatum, public allegations from Elon Musk, and the withdrawal of its own safety pledges. From refusing to develop autonomous military weapons to revising RSP 3.0 and abandoning the "pause training" red line, this company—positioned as a leader in "safe AI"—is now grappling with a widening gap between its brand and operational reality. This article dissects the political dynamics, valuation pressures, and the unraveling of the safety narrative premium driving this identity crisis.

Bitcoin surged past $74,000, setting a new interim high. Crypto-related stocks and equity markets in Japan and South Korea advanced simultaneously. Renewed risk asset sentiment is driven by a repricing of policy expectations, geopolitical dynamics, and global liquidity.

Base and Virtuals Protocol have introduced Base Batches 003: Robotics, focusing on the convergence of AI agents and robotics to advance embodied intelligence. The initiative analyzes the emerging opportunities and challenges in the Web3, AI, and robotics economic landscape.

ADA is the native token of the Cardano blockchain.

The primary difference between Cardano and Ethereum lies in their ledger models and development philosophies. Cardano adopts the Extended UTXO (EUTXO) model derived from Bitcoin and emphasizes formal verification and academic rigor. Ethereum, by contrast, uses an account-based model and, as a pioneer of smart contracts, prioritizes rapid ecosystem iteration and broad compatibility.

Ouroboros is the world’s first Proof-of-Stake (PoS) protocol based on peer-reviewed research and backed by formal security proofs. It structures time into periodic "Epochs" and "Slots," where randomly selected "Slot Leaders" are responsible for block production.

Cardano is a public blockchain network centered on smart contracts, utilizing a layered architecture and a Proof of Stake (PoS) mechanism. It aims to provide a more secure and scalable underlying support for decentralized applications and financial infrastructure. Its consensus mechanism, Ouroboros, enhances network security and energy efficiency through mathematical modeling and formal verification design. ADA, Cardano's native token, serves as both the settlement currency for network transactions and a key tool for staking and governance. Through decentralized stake pools and incentive mechanisms, network participants collectively maintain system operations and security, enabling Cardano to operate continuously without centralized control.

ROBO is the native utility and governance token of the Fabric Protocol, designed to provide standardized value settlement and credit support for the global decentralized robot economy. As the network's core value anchor, ROBO is used not only to pay for task collaboration and data transactions between robots but also to deeply bind token issuance with actual physical labor output through the innovative Proof of Robotic Work (PoRW) mechanism. Within this framework, ROBO acts as "digital fuel" for robots, ensuring that every autonomous device connected to the network possesses independent economic sovereignty, capable of completing the full cycle—from energy procurement to skill upgrades—without human intervention.

GT (GateToken) and BNB represent two core logics in the evolution of platform tokens: the former emphasizes "on-chain asset security and underlying infrastructure," while the latter is dedicated to "high-performance transactions and full-stack ecological expansion."

Web4 (Web 4.0) is a super-intelligent environment capable of real-time sensing, understanding, and predicting user needs. It is not merely decentralized but exists as a highly autonomous "symbiotic ecosystem" with emotional intelligence. Unlike Web3, which emphasizes the restructuring of decentralized production relations, the core of Web4 lies in a paradigm shift of productivity—achieving on-chain autonomy and real-time awareness through high-performance AI Agents.