An observation, not necessarily correct, just for personal record: Recently, both Cathie Wood and Tom Lee have publicly spoken out, explaining the reasons for the current downturn in Crypto. Both attributed the reasons to the technical issues of the exchange on 10.10, resulting in a loss of 28 billion in liquidity, and the market sentiment is still recovering. When influential analysts simultaneously use the same rhetoric to discuss the reasons, it means they are trying to establish a certain consensus and narrative, namely that 'the liquidity risk in crypto comes from the technical issues of offshore exchanges.' When users, the industry...

During the past week at the Davos Forum, BlackRock's Larry Fink became the busiest person. As a co-chair of the forum, he hosted several high-profile guest interviews and also clearly declared at the forum that "Tokenization is inevitable," proposing that future financial markets will operate on a "One Common Blockchain." Let's discuss the long-term narrative of "stablecoins" and "tokenization." The current international system is based on rules dominated by the U.S....

Recently, I've been thinking about a question. If geopolitical risks lead central banks to increase their gold reserves (not for trading profits), and this trend is hard to reverse in the short term, then there won't be capital rotation from the gold sector. So how can cryptocurrencies attract incremental funds? Coincidentally, I've been reading ARK's 2026 report these past two days, and Cathie Wood remains a big bull on AI and crypto...

As Trump once again wields the tariff stick against the EU over Greenland, investment firm Kobeissi Letter published an article summarizing market reactions after previous tariff disputes, providing this guidebook. Trump always starts with punitive and threatening messages, which is part of his negotiation tactics. Moreover, this move works well for him. In the October confrontation with China, it ended with the signing of a new trade agreement and China lifting restrictions on rare earth exports, which Trump said were harming the U.S. This time, the statement was released on a Saturday...