BlockBeats will organize the key industry news content of the week (2.3-2.9) in this article, and recommend in-depth articles to help readers better understand the market and learn about industry trends.
Important News Review
This week, BTC fell below $100,000, and mainstream Altcoin fell by more than 20%, causing more than 700,000 people to be liquidated.
On February 3, Bitcoin suddenly fell sharply, falling below $93,000 for a short period of time, with a 24-hour drop of 8.3%; subsequently, multiple Altcoin followed suit, with some falling by more than 20%. On the day of the market decline, the entire network had a 24-hour liquidation of $2.028 billion, of which $1.766 billion was liquidated in long orders and $270 million was liquidated in short orders. In addition, on the day when the price of crypto tokens fluctuated violently, a total of 700,594 people worldwide were liquidated.
However, due to the sharp price fluctuations, the plunge data is not completely accurate. Ben Zhou, CEO of Bybit, said that the actual total liquidation amount in the cryptocurrency market on February 3 was far more than $2 billion, and he estimated that it was at least between $8 billion and $10 billion. The liquidation amount of Bybit alone in 24 hours reached $2.1 billion.
The reason for inaccurate data is that there are API limitations on major trading platforms when pushing data per second.
Justin Sun and Li Lin have a dispute over about $30 million in funds due to the HTX acquisition and are ready to go to court
This week, Justin Sun, founder of TRON and member of the HTX Global Advisory Board, posted on social media that “People familiar with the situation know that Li Lin concealed due diligence materials and created a $30 million hole internally. I discovered his manipulation in the end, and after being exposed, he cheated and refused to give me a cent. I lent it to the company to fill it.”
Huobi founder Li Lin responded to Justin Sun's questioning and said that during the HTX delivery process in October 2022, the two parties had major differences in the calculation method of user assets. He had communicated with Justin Sun many times, and Justin Sun also made it clear that he hoped to further check the accounts and clarify the facts. Therefore, this is not the so-called "concealment of transfer" or "funding hole", but because it has been two years since the delivery was completed, the core personnel and financial data have changed significantly, resulting in misunderstandings between the two parties on the calculation method of financial data at the time of delivery.
The "$30 million funding hole" mentioned by Justin Sun is essentially a margin call caused by extreme market conditions when the trading platform was operating margin trading (leverage) business. At the time of delivery, the company's income had been used to handle this part of the financial processing, and the assets delivered to the seller completely covered the user's assets. There was no so-called "funding hole". We fully support fair rulings through the Hong Kong courts or third-party arbitration institutions to safeguard the legitimate rights and interests of all parties through legal means, rather than unilaterally using social media for unilateral trials.
Binance is caught up in the controversy of "rat trading" and "girlfriend coins", He Yi made a clarification on Space
On February 3, in response to the phenomenon that the newly listed currencies on Binance in the past year have generally reached their peak at the opening, many users believe that Binance's listing standards are not transparent, and the projects listed are suspected to be "connected users"; "rat trading" voices are heard one after another. In response to this, Binance co-founder He Yi called on several Launchpad projects that had previously launched on Binance to hold Space dialogues to respond to market questions.
He Yi admitted that there are indeed problems with Binance listing coins, which are determined by factors such as the current market structure and Binance's size. Although Binance has been studying solutions to this problem, including discussing voting for listing coins and Dutch auctions, it also faces the problem of target selection and regulatory balance (any coin listing will provide reports to regulators). Therefore, Binance has not yet found a better solution, and welcomes users and investors to provide constructive suggestions.
Jason, the founder of Hooked Protocol, the 29th Launchpad project of Binance, said in Space that he and Dovey, the co-founder of Primitive Ventures, were in a boyfriend-girlfriend relationship, but denied that there were any violations in the process of listing on Binance, and there was no problem of interest transfer. Dovey Wan also said in another Space on the second day that she had known Jason, the founder of Hooked Protocol, for many years and had communicated with him when Jason just started Hooked, but they were not boyfriend-girlfriend at that time. The valuation of Hooked Protocol when it was first invested was 30 million US dollars, and the unlocking period was the same as other investors. Dovey Wan added that due to her special status, she did not actively participate in raising funds for Hooked Protocol when it was seeking financing, and she was also very surprised when Binance announced that Hooked Protocol was listed on Binance Launchpad.
He Yi said in Space that he is no longer in the YZi Labs Investment Committee and will not have any impact on YZi Labs' investment. The YZi Labs Investment Committee is currently chaired by CZ and Ella.
The U.S. SEC officially announced the top ten priorities of the crypto working group, and the website was officially launched
On February 5, the U.S. Securities and Exchange Commission (SEC) officially launched a new cryptocurrency task force webpage: https://www.sec.gov/about/crypto-task-force, and announced its top ten priorities. This series of measures marks a major shift in the SEC's regulatory strategy for crypto assets, from the past "law enforcement and supervision" to "equal emphasis on guidance and regulation."
Involved in Bitcoin money laundering case, former deputy director of Beijing Financial Bureau sentenced to 11 years in prison
On February 8, according to Caixin, Hao Gang, former deputy director of the Beijing Local Financial Supervision and Administration Bureau, was sentenced to 11 years in prison in the first instance. In addition to being involved in Bitcoin money laundering, Hao Gang also assisted a senior executive of a leading Bitcoin mining company to lift border control, and the bribes he received may have reached 10 million yuan. The Beijing Second Intermediate People's Court sentenced the defendant Hao Gang to eight years in prison for the crime of accepting bribes and a fine of RMB 500,000; sentenced him to four years in prison for the crime of money laundering and a fine of RMB 800,000, and decided to execute a sentence of eleven years in prison and a fine of RMB 1.3 million. The illegal gains and interest from his bribery were recovered, confiscated, and turned over to the state treasury.
FTX's first repayment will begin on February 18, 2025
Sunil, the representative of FTX creditors, disclosed on X that FTX has determined that repayment will begin at 10:00 a.m. Eastern Time on February 18, 2025, and creditors with claims less than $50,000 will be repaid first. The repayment distribution amount will include 100% of the adjudicated claim value (capped at $50,000) and an additional compensation amount of 9.0% annual interest on the adjudicated claim value from November 11, 2022 to the initial distribution date.
Berachain issues BERA token, airdrop rules criticized by the community
On February 4, Berachain Foundation officially announced that the Berachain token TGE will be held simultaneously with the mainnet launch. On February 6, the Berachain token BERA airdrop was open for query, and the token economics were announced. The total number of tokens in the BERA Genesis period was 500 million, with 16.8% allocated to initial core contributors; 34.3% allocated to investors; 15.8% allocated to community airdrops; 13.1% allocated to future community incentives; and 20% allocated to the ecosystem and R&D. After the announcement of the token issuance, many trading platforms including Binance, OKX, Bybit, Bitget, Upbit and Bithumb announced the launch of BERA.
However, as the airdrop was opened for inquiry, it attracted a lot of criticism. Users who had previously participated in the interaction were dissatisfied with the number of airdrops, and many communities said that although they participated in the test network, the effort they put in was not proportional to the gains. Related reading: " Berachain airdrop was complained: the Luma studio was almost "destroyed"; the pre-deposit was forced to lock up for 3 months "
Solana restaking platform Solayer issues tokens
On February 7, according to official news, Solana re-staking platform Solayer announced the LAYER token economics, with a maximum supply of 1 billion and an initial circulation supply of 220 million. LAYER will be distributed through Emerald Card community sales and Genesis airdrops for early users. The LAYER token economics are: community and ecosystem account for 51.23%; core contributors account for 17.11%; investors account for 16.66%; foundation accounts for 15%. For early eligible community members, the Genesis Drop will be unlocked immediately at launch.
ETH supply exceeds Ethereum PoS pre-merger level
On February 5, according to Ultrasound data, the current supply of ETH has exceeded the level before the Ethereum PoS merger. Data shows that the current supply of ETH is 120,521,291, an increase from 120,521,140.92 at the time of the merger on September 15, 2022. Since Ethereum completed the transition to the Proof of Stake (PoS) mechanism, 1,947,607.01 ETH has been destroyed, and 1,947,757.18 ETH have been newly issued, with a net supply increase of 150.17 ETH.
Bloomberg has published several articles criticizing Trump's new policy for making the crypto sector mired in a quagmire and the lack of effective supervision of the president in the US system.
On February 7, Bloomberg published an article questioning a series of actions taken by Trump in the field of encryption after he took office, saying that President Trump and his entourage seemed eager to build their encryption empire. The family not only hopes to put the United States on a path of supporting encryption through friendlier supervision, but also wants to have a part in the good results.
The risk is equally incredible, with Trump-related entities currently holding TRUMP with a book value of about $14.9 billion based on the current (volatile) spot price. As token buyers and industry players see their chance to curry favor with Trump, money-for-money transactions and corruption are sure to increase. In addition, moral hazard also exists.
Eric Trump was by no means a neutral observer when he tweeted a friendly hint that Ethereum was worth buying — something he seemed to realize when he deleted the phrase “You can thank me later” from his post on X. Meanwhile, the company transferred most of its reserves to Coinbase Global Inc., which denied plans to sell, but it’s hard to tell what kind of insider information was involved. Trump’s tariff policy is by no means good for the crypto market, and Eric Trump’s shill is equally limited.
Bloomberg believes that if supervision is not effectively enforced and strengthened, supervision of the president's behavior will become ineffective, and Trump currently seems to be free from any constraints. Trump and Musk's series of operations are "textbook overconfidence", especially considering that Trump has been convicted of fraud.
MicroStrategy changes its name to Strategy, with a 2025 "BTC revenue" target of $10 billion
On February 6, MicroStrategy Incorporated (NASDAQ: $MSTR) announced that the company now operates under the name Strategy™. Strategy is the world's first and largest Bitcoin finance company, the largest independent public business intelligence company, and a component of the Nasdaq 100 Index. Strategy (formerly MicroStrategy) has set a 2025 "BTC revenue" target of $10 billion and revised its 2025 BTC annual yield target to at least 15%. The company's "BTC yield" KPI for fiscal year 2024 reached 74.3%, and reached 2.9% in the first quarter of 2025.
Many celebrities claim that Twitter was "stolen" and released meme tokens. Kanye West claims that someone paid to cheat users
This week, many celebrities in various fields released meme tokens, and some claimed that their Twitter accounts were stolen after the tokens were issued. These tokens often rise and fall sharply in a short period of time, and finally "rug", causing community meme players to complain bitterly.
On February 8, Kanye West posted on social media that someone proposed to offer him $2 million to issue a Meme coin to defraud his fan community, and Kanye himself has rejected the "cooperation" request. According to the chat screenshots released by Kanye, this "cooperation" requires Kanye to promote a RUG plate Meme coin, pay $750,000 in advance, and Kanye can announce that his "account has been stolen" 8 hours after posting, and pay another $1.25 million 16 hours after posting. The man behind the scenes said that this "cooperation" can make tens of millions of dollars in profit.
As soon as the news came out, many community users questioned whether the previous celebrity’s Twitter account for issuing coins was stolen, or whether it was just an act of celebrities and the mastermind behind the scenes colluding to reap the benefits of retail investors.
This week's hot articles
"Justin Sun 8 Years in the Crypto: A Tale of Two Crypto Cities"
Justin Sun's influence in the crypto continues to rise. Recently, he has become the focus again for spending $6.2 million to buy banana artworks, establishing connections with the Trump family, and financial disputes with Huobi founder Li Lin. At the same time, EOS, once the "Ethereum killer", has gradually fallen into decline, and its parent company Block.one has hoarded Bitcoin and become the world's second largest BTC holder. The fate of the two is in sharp contrast: TRON continues to grow with the USDT ecosystem and trading volume, while EOS is gradually marginalized after missing key opportunities. Today, Justin Sun's wealth and influence are still expanding, while Block.one relies on Bitcoin reserves to maintain its capital advantage. This tale of two cities in the crypto industry is still playing out.
"Crypto market liquidated $2 billion, what are the reasons for the decline?"
Bitcoin has fluctuated sharply recently, falling below $92,000 for a short period of time. On February 3, the entire network had a liquidation of more than $2.028 billion, mainly affected by three factors. First, the domestic AI large model DeepSeek caused market turmoil. US officials accused it of "stealing", technology stocks suffered setbacks, and risky assets such as Bitcoin followed suit. Secondly, the Trump administration implemented a high tariff policy, and the market was worried about the escalation of the global trade war, causing Bitcoin to fall to $91,000. Finally, El Salvador cancelled the legal currency status of Bitcoin. Although the government is still increasing its holdings of BTC, market sentiment has been frustrated, further exacerbating the downward pressure on Bitcoin.
Berachain recently announced the launch of an airdrop query tool and released the economic model of its token BERA, with an initial supply of 500 million and an unlimited maximum supply. Token distribution includes core contributors, investors, and the community, of which the community covers airdrops, future initiatives, and ecosystems and R&D. Berachain is an L1 public chain compatible with Ethereum, using a unique PoL consensus mechanism, and is committed to promoting the development of a decentralized financial ecosystem. The project has raised more than $140 million in financing and will be listed on multiple exchanges. However, despite the heated debate surrounding the airdrop, some testnet users were dissatisfied with the token distribution, especially with the lock-up period and airdrop rules.
Evgeny Gaevoy, founder of Wintermute, responded to questions about his company's price manipulation and market manipulation, and expressed his dissatisfaction with "keyboard warriors" on social media. He explained Wintermute's core business, which is to make profits in the market through DeFi, CeFi and OTC transactions, and emphasized that the company is not short the market, but making profits through market-making strategies and arbitrage. In addition, he also clarified the misunderstanding about the company's market-making behavior, pointing out that the fundamental reason for price fluctuations in the crypto market lies in the supply and demand relationship and the influence of the macroeconomic environment.
"Is Trump still good for the crypto?"
After Trump launched meme coins such as $TRUMP and $MELANIA, it attracted a large amount of capital inflow, but also led to the depletion of liquidity in the crypto. At the same time, due to the impact of Trump's policies such as imposing tariffs, the crypto market has ushered in drastic fluctuations, and the prices of mainstream currencies such as Bitcoin have fallen sharply. Trump's change in attitude towards cryptocurrencies and frequent policy adjustments may bring new development opportunities to the crypto, but may also increase market uncertainty and risks. Investors need to pay attention to policy dynamics and be cautious in dealing with possible market shocks in the future.
The "Department of Government Efficiency" (DOGE) led by Musk has recently attracted widespread attention for closing the United States Agency for International Development (USAID), which has a history of more than 60 years. DOGE is composed of a team of young elites, most of whom are between 19 and 25 years old, including 19-year-old Edward Christian, who has interned at Neuralink, and 23-year-old Luke Farito, who has worked for GitHub. The team's main task is to reshape government agencies through efficient technical means. Although the youth of its members has sparked media criticism, Musk insists that they are the world's top software engineers. Whether this streamlined and highly technical team can successfully promote government reform remains to be tested by time.
"A 28-year-old American guy issued a coin to Enron, which was once worth 70 billion?"
This article revolves around the new Enron, telling a story that combines performance art with business. The new CEO Connor Gaydos created a social experiment and satire show that interweaves reality and fiction by reviving the bankrupt Enron, and gradually launched a series of bizarre business initiatives, such as launching the Enron nuclear egg and issuing the cryptocurrency $ENRON, all of which are labeled as "performance art." These seemingly absurd operations not only ironize the Enron tragedy, but also make people reflect on the complexity of information dissemination and public reaction. In the end, Gaydos successfully used all these methods to shape himself into an alternative artistic figure in the Web3 world.
PAIN is a Meme coin project incubated by Memeland. It raised about $38 million in just 48 hours, becoming one of the largest Meme coin pre-sales in history. The project team subsequently announced the refund of 80% of the funds raised, sparking widespread controversy. Supporters believe that this move reflects an attitude against cutting leeks, while skeptics point out that the funds after the refund have depreciated, and the remaining 20% is still enough to start the project. PAIN's success has benefited from Memeland's resources and celebrity effect, but its long-term development faces challenges. Excessive commercialization may weaken its original charm, and Meme coins are susceptible to market fluctuations.
《BTC sideways, altcoins hit new lows, is the bull market over? ｜Trader Observation》
The Trump administration's policies have had little impact on the cryptocurrency market, but have had a negative impact due to its macroeconomic policies and trade war. The interest rate hikes and the strong dollar have led to market turmoil, especially the poor performance of Altcoin. Although Trump's eponymous meme coin has brought a short-term wealth effect, the market is skeptical about whether the bull market will still exist. Although Bitcoin has rebounded to a certain extent, the overall market sentiment is sluggish and liquidity has shifted to Bitcoin. Macroeconomic data shows that the US labor market is strong, reducing the possibility of interest rate cuts, and the market reaction is relatively complicated.
Some indicators in the current market have shown signals of escaping the top, such as Bitcoin's Rhodl ratio, USDT current wealth management rate, and Altcoin seasonal index. These signals suggest that the market may enter an overheated area, but it does not mean that the top has been reached. Investors should remain vigilant and consider gradually reducing their positions, converting profits into stablecoins or fiat currencies, and avoid chasing riskier Altcoin. It is more important to stay rational and exit in time than to wait for a perfect top.
《How Chinese developers recognized by Base leaders are all in on-chain economy｜Base Builder Talk》
The rapid rise of the Base ecosystem in the Ethereum L2 ecosystem is inseparable from the efforts of many developers and community members. BlockBeats recently planned the "Base Builder Talk" column, inviting Asian teams and developers who are deeply involved in the construction of Base to share their experiences and insights. Onchain researcher Aaros (183Aaros.base.eth) mentioned in the interview that the reason why Base attracted him was its vision of "global on-chain economy", especially Jesse's concept of "not only coders, but also creators and community builders". In addition, Aaros proposed the concept of "cyber reality", believing that on-chain economics is an interdisciplinary integration, emphasizing a new interactive model of production and consumption, and the Base ecosystem is promoting the realization of this new paradigm.
The U.S. Securities and Exchange Commission (SEC) recently launched a new cryptocurrency working group and released ten priorities, marking a shift in its regulatory strategy from "enforcement" to a greater focus on "guidance and regulation." The new working group will focus on issues such as the securities attributes of crypto assets and cross-border regulatory cooperation, while reducing enforcement efforts and creating a more flexible regulatory environment for the industry. These changes are intended to provide investors and entrepreneurs with clearer regulatory guidance, promote innovation and market development, and ensure effective anti-fraud protection.
After Berachain was launched on mainstream trading platforms, it briefly broke through $15, but the trading volume quickly exceeded 100 million and the price fell sharply, showing the high volatility of the market. Current popular crypto projects include MegaETH, Monad, Story and Abstract. The GTE trading platform within the MegaETH ecosystem raised $10 million in funds and attracted market attention through an innovative decentralized trading model. Projects within the Monad ecosystem, such as aPriori, Kuru and Kintsu, are committed to optimizing network performance through innovative liquidity pledges and market mechanisms. The Story platform combines AI with cryptocurrency to launch a new way of decentralized IP governance.
"Is the AI bubble burst by DeepSeek a blessing or a curse for Crypto AI?"
The release of DeepSeek R1 and its open source strategy have changed the Crypto AI ecosystem and promoted the progress of decentralized AI. Its breakthrough adaptive training method and low-cost model training have brought about a major reshuffle in the Crypto AI market, and many token prices have plummeted, but this has actually paved the way for the long-term development of Crypto AI. DeepSeek R1 not only challenges traditional closed-source AI models, but also affects the hardware market, especially Nvidia's dominance. In addition, DeepSeek's open source models and new technologies have brought innovation and cost reduction to multiple Crypto AI projects, providing an opportunity for the resurgence of the crypto market.
In this article, Arthur Hayes criticizes two main aspirations in the current cryptocurrency industry: establishing a Bitcoin Strategic Reserve (BSR) and promoting cryptocurrency regulation bills. The author believes that by purchasing Bitcoin and using it as a reserve asset, the government may cause market instability due to political motives, and the complexity of crypto regulation will only benefit large centralized companies and undermine the decentralized spirit of innovation. The article argues that a truly effective solution should be to use Bitcoin as a neutral global reserve asset, avoid relying on government intervention, and promote a fairer and more meaningful development of cryptocurrencies.
From VC coins to the Meme craze, the crypto market is tired
This article takes a deep look at the changes in the crypto market, especially the fatigue of retail users. It is not difficult to see the shift from a venture capital-led market to a meme coin boom starting in early 2024. Although meme coins once provided a fairer opportunity for retail, they eventually became too speculative, leading to a deterioration in market conditions. Retail users are tired of losing money, and the market has become fast and competitive, emphasizing the importance of finding a new balance point, calling for more attention to projects with real applications and fair issuance mechanisms.
"AI market is cooling down. Is Venice based on DeepSeek still an ideal target for speculation?"
This article reviews the market fluctuations of AI projects, pointing out that emerging crypto projects often experience pullbacks after experiencing rapid growth, and this process helps to screen out projects with long-term value. Although many AI projects have suffered a sharp drop in market value, Venice AI has demonstrated long-term potential with its decentralized, uncensored characteristics and innovative token mechanism. However, the launch process of Venice has also sparked controversy, especially regarding team operations and transparency.
"WSJ: He made billions of dollars by gambling on Bitcoin"
Michael Saylor purchased a large amount of Bitcoin through MicroStrategy. Although the company did not launch a popular product, it raised funds by issuing stocks and bonds to support Bitcoin investment, causing the stock price to soar and becoming a representative of the Bitcoin craze. Despite the huge risks and market volatility brought by this strategy, Saylor is still firmly optimistic about the scarcity and digital characteristics of Bitcoin, and believes that it is a revolutionary currency to resist inflation. His company uses innovative investment tools to attract funds, while facing the risks that may be brought about by Bitcoin price fluctuations, but its financial situation is relatively stable for the time being.
《Event Express | Consensus HongKong 2025 will be held from February 18 to 20》
From February 18 to 20, 2025, CoinDesk will hold Consensus Hong Kong in Hong Kong, bringing together important companies and figures in the fields of blockchain, digital assets and Web3 to promote the development of the industry. The event will feature topics such as the future of Bitcoin, the prospects of decentralized finance, and the evolution of the crypto market. Guests will include the Financial Secretary of BlockBeats Kong, Binance, Solana, Tron and other industry leaders. As the official media partner, BlockBeats will bring readers exciting live coverage. In addition, a number of related peripheral activities will also be held in Hong Kong at the same time, covering technical exchanges, social gatherings and industry summits.
The influence of KOLs can significantly affect projects, and understanding their trading dynamics is of great value to investors. Through platforms such as gmgn and chain.fm, you can find the addresses of KOLs and analyze them based on their trading styles, winning rates and other data. In addition to conventional public channels, some KOLs will share specific transaction information through Twitter, and their addresses can be filtered out by combining this information. After finding the KOL address, using tools such as debot for monitoring can help obtain transaction information in a timely manner. For KOLs without public addresses, their trading dynamics can also be tracked through clue analysis.
How can the United States build a cryptocurrency capital? a16z publishes 11 articles to explain
The U.S. government is gradually adjusting its stance on blockchain and cryptocurrency, taking a more supportive attitude and providing clear rules and guidance to help the industry develop. Although crypto companies have faced multiple challenges, recent initiatives, such as the White House's executive order supporting blockchain development, the SEC's establishment of a new working group, and Congress's advancement of relevant legislation, show a more positive regulatory trend. In addition, industry experts raised several key issues, including the importance of decentralization, the SEC's adjustment suggestions, and support for the staking industry, which provide valuable references for policymakers and promote the United States' innovation and leadership in the crypto field.
In 2024, the annual report released by Tokenomist revealed several key trends in the crypto market, such as token unlocking, low circulation high FDV tokens, Memecoin, and the rise of AI agents. The report pointed out that token unlocking activities have a significant impact on market liquidity, especially in large-scale unlocking events such as Arbitrum and Sui. The changes in market sentiment and funding rates before and after unlocking show different expectations of investors. In addition, Memecoin's returns have greatly surpassed Bitcoin and Ethereum, but its long-term success rate is low and many projects are short-lived. AI agents, combined with Memecoin and social media elements, show a new trend in the crypto market, which is expected to develop further in 2025, bringing new innovations and challenges.
Moonshot is a Meme coin trading platform based on the Solana blockchain. In the context of low market sentiment, it has attracted a large number of users by simplifying the trading process and multiple fiat currency deposit methods. In the second half of 2024, with Trump's launch of the TRUMP token, the platform's trading volume surged, attracting a large number of new users. However, of the 116 tokens launched on Moonshot, more than 85% of the projects have seen a sharp drop in price, and most of the projects have quickly returned to zero in a short period of time. This shows the high-risk nature of the Meme coin market, and the gains from short-term speculation are often difficult to sustain, reminding investors to treat market fluctuations rationally.
megaETH announced the launch of a new NFT series, The Fluffle, with a total of 10,000 and a price of 1 ETH. It is a non-tradable SBT, and holders can receive 5% of the future token distribution, which has sparked heated discussions in the market. Supporters believe that the valuation is reasonable and has great growth potential, and the project refuses high VC investment, leaving opportunities to the community. Opponents question its disguised ICO, believing that selling coins before the mainnet is launched may be a way to harvest the community in advance by taking advantage of the bull market. The market is still divided on the long-term impact of this model.
Under the leadership of the new administration, the U.S. Securities and Exchange Commission (SEC) has become more friendly to cryptocurrencies and has accelerated the review process of crypto spot ETFs. At present, the spot ETF applications of SOL, LTC and XRP are leading the way. Among them, 5 institutions have submitted applications for SOL and LTC. Grayscale and Canary's LTC ETF and Grayscale's SOL ETF have been accepted by the SEC. XRP spot ETF has been applied by 5 institutions and is awaiting confirmation from the SEC. Analysts believe that the change in the SEC's attitude may be related to the change of leadership. At the same time, the market is optimistic about the approval of the LTC ETF. In addition, ETF applications for other crypto assets such as DOGE and DOT are also in progress.
This article discusses the development trends of Web2 and Web3 AI Agents. Based on the "Request for Startups" released by Y Combinator in the spring of 2025, it sorts out six major tracks: AI open source software, agent development tools, vertical AI Agents, personal AI assistants, AI app stores, and B2A (Business-to-Agent). Web3 gives AI Agents decentralization, trustlessness, and composability, driving the rise of the AI + Crypto ecosystem.
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