Wu Says Blockchain

Market concentration is declining. Binance investors are also reducing their concentrated allocation in the semiconductor industry and shifting funds towards the software and capital markets industries.

Arthur Hayes discusses the repatriation of capital to Japan, the direction of Federal Reserve policy, and the capital misallocation in AI.

The founder of Strategy responds to investors: the company is currently in a Bitcoin bear market, focusing on repairing its digital credit business, will not prioritize repurchasing MSTR or paying dividends, and remains bullish on Bitcoin in the long term.

Tether completes its first comprehensive audit in 12 years: KPMG US meticulously counts 150 tons of gold reserves, confirming over $6 billion in remaining equity.

Stablecoins are entering the merchant payment scene. How is Circle positioning itself?

Arthur Hayes: Under the pressure of $40 trillion in debt, the U.S. can only release liquidity, and Bitcoin will rise to hundreds of thousands of dollars very quickly.

The valuation logic of Bitcoin mining companies is shifting: from "hash power + BTC holdings" to "power capacity + AI leases." The most valuable asset is not the mining machines, but electricity.

CZ: Every country must have its own local stablecoin; otherwise, it is equivalent to building its economy on someone else's currency. The Philippines has $35 billion in remittances, and the fees can be reduced from 7% to nearly zero.

BIP-110 fork failed: support rate only 2.53%, the fork chain stagnated after mining two blocks. Attempted to limit the consensus upgrade of Ordinals, ultimately forked itself out.

Circle has signed USDC distribution cooperation agreements with over 150 companies, promoting the growth, product development, and distribution of USDC through economic incentives.