With the formal implementation of Trump's large-scale tax cut and spending bill, the U.S. Treasury may unleash a "flood" of short-term Treasury supply to cover the upcoming multi-trillion-dollar fiscal deficits. The market has already begun to react to the anticipated supply pressure. Concerns over an oversupply of short-term Treasuries have directly translated into price movements—the yield on one-month short-term Treasuries has risen significantly since last Monday. This marks a shift in ma...

Key TakeawaysStrategic Differentiation: Binance offers retail - centric on - chain services to lower the barrier to entry for Web3. Bybit has launched a standalone platform, ByReal, to provide CEX - level liquidity on - chain. Coinbase, on the other hand, has adopted a dual - track model targeting both retail and institutional users.Why CEXs Are Moving On - Chain: With an increasing number of early - stage tokens being initially launched on decentralized exchanges (DEXs), centralized exchange...

With the formal implementation of Trump's large-scale tax cut and spending bill, the U.S. Treasury may unleash a "flood" of short-term Treasury supply to cover the upcoming multi-trillion-dollar fiscal deficits. The market has already begun to react to the anticipated supply pressure. Concerns over an oversupply of short-term Treasuries have directly translated into price movements—the yield on one-month short-term Treasuries has risen significantly since last Monday. This marks a shift in ma...

Key TakeawaysStrategic Differentiation: Binance offers retail - centric on - chain services to lower the barrier to entry for Web3. Bybit has launched a standalone platform, ByReal, to provide CEX - level liquidity on - chain. Coinbase, on the other hand, has adopted a dual - track model targeting both retail and institutional users.Why CEXs Are Moving On - Chain: With an increasing number of early - stage tokens being initially launched on decentralized exchanges (DEXs), centralized exchange...

OKB has been stealing the spotlight lately. You’ve got to hand it to CEO Xu—he absolutely nailed this move! Although yesterday’s launch of the Kanye token generated massive hype, it turned out to be just a short-lived pump. The whole thing reeked of conspiracy. The token was launched precisely during Asian morning trading hours. Not to mention the clustered wallet activities and bundled transactions, the recent release of Libra funds, and Meteora’s unilateral pool dumping. This serves as a pe...

OKB has been stealing the spotlight lately. You’ve got to hand it to CEO Xu—he absolutely nailed this move! Although yesterday’s launch of the Kanye token generated massive hype, it turned out to be just a short-lived pump. The whole thing reeked of conspiracy. The token was launched precisely during Asian morning trading hours. Not to mention the clustered wallet activities and bundled transactions, the recent release of Libra funds, and Meteora’s unilateral pool dumping. This serves as a pe...

An Iron Curtain Falls Across the Global South From the under-the-table trades of Asia, Africa and Latin America to the Indian diaspora on the Arabian Sea, a new Iron Curtain has descended across the continents of the Global South. Yiwu is only a bullet-train ride from Hangzhou, and what flows between them is not just bottled water but stablecoins. Behind the Curtain: The Fortresses of Traditional Finance Behind this curtain sit all the citadels of banking and fintech—Bank of America, the two ...

An Iron Curtain Falls Across the Global South From the under-the-table trades of Asia, Africa and Latin America to the Indian diaspora on the Arabian Sea, a new Iron Curtain has descended across the continents of the Global South. Yiwu is only a bullet-train ride from Hangzhou, and what flows between them is not just bottled water but stablecoins. Behind the Curtain: The Fortresses of Traditional Finance Behind this curtain sit all the citadels of banking and fintech—Bank of America, the two ...

America’s Leadership in the Digital-Finance Revolution Good afternoon. Thank you, Norm, for that warm introduction and for the invitation. I am delighted to be with you at what I believe is a pivotal moment for American leadership in crypto-asset markets. Before I share my thoughts, let me thank the America First Policy Institute for convening this timely discussion. And, to keep the compliance team happy, I must note that the views I express today are my own and do not necessarily reflect th...

America’s Leadership in the Digital-Finance Revolution Good afternoon. Thank you, Norm, for that warm introduction and for the invitation. I am delighted to be with you at what I believe is a pivotal moment for American leadership in crypto-asset markets. Before I share my thoughts, let me thank the America First Policy Institute for convening this timely discussion. And, to keep the compliance team happy, I must note that the views I express today are my own and do not necessarily reflect th...

Executive Summary The article argues that, as U.S. crypto policy accelerates and the financial narrative shifts, ETH—thanks to its yield-bearing nature, institutional “grab-everything” demand, and its role as the settlement layer for stable-coins and real-world assets (RWAs)—will surpass Bitcoin in market-cap over the next 1–2 bull-bear cycles.1. Un-staking Headlines Are Noise Daily withdrawals are capped at 57 600 ETH, yet only about 15 days of backlog exist (873 k ETH). Treasury-style compa...

Executive Summary The article argues that, as U.S. crypto policy accelerates and the financial narrative shifts, ETH—thanks to its yield-bearing nature, institutional “grab-everything” demand, and its role as the settlement layer for stable-coins and real-world assets (RWAs)—will surpass Bitcoin in market-cap over the next 1–2 bull-bear cycles.1. Un-staking Headlines Are Noise Daily withdrawals are capped at 57 600 ETH, yet only about 15 days of backlog exist (873 k ETH). Treasury-style compa...

Powell’s speech at the Jackson Hole Economic Symposium signals a shift in the Federal Reserve’s policy logic—from focusing primarily on inflation risks to paying greater attention to employment market performance, while hinting that interest rate cuts may have no lower bound. This change aligns with the Trump administration’s pressure for rate reductions. The Trump administration’s push for rate cuts primarily aims to alleviate short-term government debt pressure and reduce financing costs fo...

Powell’s speech at the Jackson Hole Economic Symposium signals a shift in the Federal Reserve’s policy logic—from focusing primarily on inflation risks to paying greater attention to employment market performance, while hinting that interest rate cuts may have no lower bound. This change aligns with the Trump administration’s pressure for rate reductions. The Trump administration’s push for rate cuts primarily aims to alleviate short-term government debt pressure and reduce financing costs fo...

Narrative > Timing > Moon-bags After a brief mid-year pullback, crypto sentiment flipped bullish again in July 2025. ChatGPT’s AI-driven analytics now flag three tokens—each still under one dollar—as asymmetric bets with 10×–1,000× upside. The trio span three distinct investment logics: cultural memetics (Dogecoin), technical scaling (Bitcoin Hyper) and AI-enabled tooling (Snorter Bot).Dogecoin (DOGE): The OG Meme ReloadedPrice: ≈ US$0.22 (-70 % from 2021 ATH of US$0.73)Thesis: DOGE remains t...

Narrative > Timing > Moon-bags After a brief mid-year pullback, crypto sentiment flipped bullish again in July 2025. ChatGPT’s AI-driven analytics now flag three tokens—each still under one dollar—as asymmetric bets with 10×–1,000× upside. The trio span three distinct investment logics: cultural memetics (Dogecoin), technical scaling (Bitcoin Hyper) and AI-enabled tooling (Snorter Bot).Dogecoin (DOGE): The OG Meme ReloadedPrice: ≈ US$0.22 (-70 % from 2021 ATH of US$0.73)Thesis: DOGE remains t...

Bitcoin is upgrading for quantum resistance, with quantum computers expected to threaten existing security mechanisms by 2027–2030. Yet, 75% of wallets are already quantum-secure. Developers have outlined a four-phase plan: disabling vulnerable addresses, freezing funds, implementing recovery mechanisms, and completing quantum-resistant migration by 2030 using P2QR addresses and advanced cryptography. Bitcoin’s decentralized model counters the centralized control of AGI (Artificial General In...

Bitcoin is upgrading for quantum resistance, with quantum computers expected to threaten existing security mechanisms by 2027–2030. Yet, 75% of wallets are already quantum-secure. Developers have outlined a four-phase plan: disabling vulnerable addresses, freezing funds, implementing recovery mechanisms, and completing quantum-resistant migration by 2030 using P2QR addresses and advanced cryptography. Bitcoin’s decentralized model counters the centralized control of AGI (Artificial General In...

401(k) Assets Near $9 Trillion—How Much Could Flow into Crypto? On Thursday, August 7, President Donald Trump signed an executive order allowing Americans to allocate 401(k) retirement savings to cryptocurrencies, private equity, real estate, and other alternative assets. The order instructs:Within 180 days, the Department of Labor (DOL) to reassess its guidance on fiduciary duties when 401(k) and other defined-contribution plans invest in alternatives.The Secretary of Labor to clarify the DO...

401(k) Assets Near $9 Trillion—How Much Could Flow into Crypto? On Thursday, August 7, President Donald Trump signed an executive order allowing Americans to allocate 401(k) retirement savings to cryptocurrencies, private equity, real estate, and other alternative assets. The order instructs:Within 180 days, the Department of Labor (DOL) to reassess its guidance on fiduciary duties when 401(k) and other defined-contribution plans invest in alternatives.The Secretary of Labor to clarify the DO...