Within a week, the cryptocurrency market rebounded strongly, with the Bitcoin ecosystem experiencing the highest increase (+36.1%). NFTs and AI rose by 33.6% and 31.5% respectively. Risk appetite has recovered, and capital is flowing into growth sectors. The overall trend shows a diffusion-type increase, and the rotation trend centered on AI, NFTs, and the Bitcoin ecosystem is expected to continue in the short term.

The predictive market is shifting from a trading tool to a decision-making signal layer. This article presents 26 key judgments on the development of predictive markets by 2026 from five dimensions: structure, product, AI, business models, and regulation, revealing how it can become a new type of information infrastructure. This article is based on a piece by CGV Research, organized, compiled, and written by Foresight News. (Background recap: Gambling or cognitive monetization? Decoding the smart money pathways and eleven arbitrage strategies of predictive markets) (Additional background: Why isn’t the predictive market considered gambling? Clarifying the data value of on-chain events and policy development suggestions) Table of Contents 1. Structural Trend Judgments 2. Product Form Judgments 3. AI × Predictive Markets 4. Financial and Business Model Judgments 5. Regulation and Pattern Judgments Conclusion

Year-end is approaching, and scam groups are impersonating the Financial Supervisory Commission or the Inspection Bureau, falsely claiming account abnormalities and freezing accounts to induce remittances. The authorities reiterate that they have no such authority. Citizens should call 165 to verify. Recently, unscrupulous individuals have impersonated "Financial Supervisory Commission" or "Inspection Bureau" officers, falsely claiming that citizens' bank account remittance funds are abnormal and that their personal information is precisely known, attempting to scam citizens out of their money. As the year-end approaches, it is the time for scam groups to boost their performance. Please also remind your elders not to panic and accept everything blindly, or they might lose their retirement funds. Taiwan's New Type of Scam: Financial Supervisory Commission Officers Call to Freeze Accounts ------------------ Recently, unscrupulous individuals have impersonated "Financial Supervisory Commission" or "Inspection Bureau" officers, falsely claiming that citizens' bank account remittance funds are abnormal, have been listed or frozen, and claiming they can assist with processing. In fact, this is the work of scam groups. These groups usually follow the process below, exploiting citizens' fear of the law and

The previous wallet track was a quiet battle behind the scenes of Tee's underlying infrastructure. Many viewers' grandpas are urging for updates backstage, so the Fourteen Lord will make another splash in 2025. Hyperliquid is undoubtedly the hottest topic of the year. This time, let's take an insider's look to connect the dots—examining wallets, exchanges, DEXs, and AI trading to see how they are all vying for dominance here! 1. Background In 2025, I have basically studied all the Perps-type (perpetual trading platforms) available on the market. I witnessed the hype market’s 5x growth and peak halving (9->50+->25). Amidst the ups and downs, is it really that competitors have left it behind? Or is it due to its hip3 and builder?

Recently, unscrupulous individuals have been impersonating "Financial Supervisory Commission" or "Inspection Bureau" officers, falsely claiming that there are anomalies in citizens' bank account remittances, and even accurately obtaining personal information in an attempt to scam people's funds. As the year-end approaches, it is a time when scam groups boost their performance. Please also remind your elders not to panic and accept everything at face value, so their retirement funds won't be lost. Taiwan's New Type of Scam: Financial Supervisory Commission Officer Calls to Freeze Accounts Recently, unscrupulous individuals have been impersonating "Financial Supervisory Commission" or "Inspection Bureau" officers, falsely claiming that citizens' bank account remittances are abnormal, have been flagged or frozen, and claiming they can assist with processing. In fact, this is carried out by scam groups. These groups typically follow the process below, exploiting people's fear of the law and the authority of public power: Impersonating identities: The caller claims to be a "Financial Supervisory Commission officer" or "Inspection Bureau officer," and can even accurately state your name and ID number to gain trust. Creating panic: Informing you that your ID has been used to open accounts.

One of the largest recent on-chain scam damages has been recorded, when a user lost nearly 50 million USDT due to an "address poisoning" attack. This type of scam exploits how blockchains use an account-based model to manage transaction history and reuse addresses.

Written by: Zhang Feng After Hainan's customs closure operation, the Renminbi within its borders has not changed its fundamental property as domestic Renminbi, but within the EF account system, it has been given highly similar offshore Renminbi convenience functions. Therefore, it can be summarized as "overall onshore, account-type offshore." 1. The entire area still uses domestic Renminbi (CNY) It is necessary to clarify a basic positioning first: the Hainan Free Trade Port is a special area under the supervision of Chinese customs, rather than a sovereign foreign area "outside the customs territory". It is still within the customs boundaries and monetary sovereignty jurisdiction of China. Therefore, the RMB circulated and stored throughout Hainan Island has the same legal nature as the RMB in places like Shanghai and Beijing, and all belong to domestic RMB (CNY), uniformly regulated by the People's Bank of China, implementing the same monetary policy and clearing rules. For ordinary residents and businesses in Hainan at the bank

A experimental orchestral project in Brazil has received official approval to raise funds by converting the real-time price of Bitcoin into music. The performance will be influenced by real-time market data in the melody creation and is planned to be held in Brasília. This new type of artistic experiment explores the fusion of data and music.

Crypto Assets ETF is a type of fund product listed on the exchange that tracks the prices of digital assets such as Bitcoin and Ethereum. In 2025, with the approval of the Spot ETF by the U.S. SEC, investors will be able to trade through brokerage accounts just like buying and selling stocks, without the need to manage a Wallet. ETFs are divided into two categories: Spot type, which holds assets directly, and Futures type, which operates through derivation.

The seemingly simple yet frequently successful "Address Poisoning Attack" has been occurring often lately. Recently, a crypto assets trader fell into this type of trap, losing nearly 50 million USD in just half an hour. Although a "white hat bounty" of 1 million USD was offered afterward to request the attacker to return the assets, the hope of recovery is bleak as the stolen assets have already flowed into mixed coin platforms. According to on-chain data analysis platform Lookonchain, this incident occurred on December 20, when the victim was withdrawing assets from Binance and intended to transfer them to a personal wallet. > A victim (0xcB80) lost $50M due to a copy-paste Address

Authors: Zhao Zhongxiu, Deng Jun, Zhang Shuyu With major global economies successively promoting legislation on stablecoins and cryptocurrencies, the Hong Kong Special Administrative Region has become a frontier for China's cryptocurrency policy experiments and alignment with international regulations. On July 17, 2025, the United States passed stablecoin legislation - the "Guidance and Establishment of the American Stablecoin National Innovation Act" (hereinafter referred to as the "GENIUS Act"). This is the first federal law in the United States specifically targeting payment-type stablecoins, providing a compliance path for the industry, while also sending a clear signal to the world: the challenges and impacts of cryptocurrency on global financial governance represent a profound shift concerning sovereign credit, the future forms of monetary systems, and global governance models. The U.S. "GENIUS Act" mainly focuses on compliance for payment stablecoins, reserve transparency, and entity licensing, with two core points: first, ensuring the dominance of the U.S. dollar extends into the cryptocurrency space, making it global.

The US Federal Reserve is seeking public input on a new "payment account" system aimed at fintechs and crypto firms, which would allow them access to central banking with fewer approvals. While some see potential for innovation, others caution about risks related to oversight and regulation.

BitMEX co-founder Arthur Hayes predicts that The Federal Reserve (FED) will launch "Reserve Management Purchase" (RMP) as a new type of QE, with the market potentially hitting a bottom and rebounding as early as January next year. He has invested 90% of his funds, optimistic about Privacy Coin and Ethena, and predicts that Bitcoin will reach $250,000 by 2026. This article is sourced from a piece written by Kyle Crypto Hunt, organized, translated, and authored by Odaily. (Previous summary: Arthur Hayes: The altcoin season has already arrived, but you just don't admit it. HYPE and SOL are the solid evidence.) (Background Information: Arthur Hayes: If Tether's Bitcoin and gold drop by 30%, USDT will be insolvent.) Table of Contents Opening remarks

The second and third paragraphs of the "Introduction" chapter provide a concise introduction to Bitcoin (i.e., bitcoin with a lowercase 'b') as a unit of currency. The author AA writes as follows: > Users can transfer Bitcoin over the network, achieving nearly all the functions of traditional currencies, including buying and selling goods, remitting to individuals or institutions, and providing credit services. Users can buy and sell Bitcoin on professional currency exchanges or exchange it for other currencies. It can be said that Bitcoin is the ideal form of currency in the internet era - it has fast transaction speeds, high security, and is not restricted by national borders. It can be seen that the author AA mainly discusses the practicality of BTC as a value transfer medium here, without mentioning its ability as a value store. This actually deviates from the core value proposition that currently supports the value consensus of BTC. Of course, considering that this book mainly presents BTC as a type of

The Federal Reserve has issued a request for information, planning to develop a new type of payment account aimed at supporting Crypto companies and FinTech innovation, providing direct access to the Federal Reserve's payment system. This reform aims to lower regulatory barriers, promote the development of Crypto startups and banks, and enhance the security of the payment system. Public feedback will be solicited for 45 days.

The US Federal Reserve (Fed) is seeking public input on a new type of "payment account," unofficially called a "skinny master account," which would allow certain eligible organizations — including crypto-related companies — limited access to the Fed's payment system. According to the proposal

In the crypto world, a single click mistake can trigger a "digital disaster." One of the most common nightmares is sending assets to the wrong blockchain. For example, intending to send ETH to an address on the Ethereum Sepolia testnet, but accidentally sending it to an address on the Ethereum mainnet. In such cases, is it still possible to recover the mistakenly transferred funds from the Ethereum mainnet? Whether assets can be recovered depends crucially on the type of the recipient address. This article will analyze different scenarios. 1. Scenario 1: The recipient address is an EOA EOA (Externally Owned Account) is the common wallet address controlled directly by a private key or mnemonic phrase. Prerequisites for asset recovery: - You transferred assets to an EOA address. - You possess the private key or mnemonic phrase for this target EOA address.

The UK Treasury's new regulation will come into effect in 2027, requiring crypto companies to meet standards supervised by the Financial Conduct Authority (FCA). Treasury Secretary Rachel Reeves stated that bringing crypto under regulation is key to ensuring that the UK remains a leading financial center in the digital age. October banking data shows that UK consumers' losses from investment scams surged 55% within a year, with crypto considered the largest type of scam.

Source: Crypto Salad Recently, discussions about RWA projects have been very lively in major Web3 communities. Industry observers online often claim that "RWA will reshape Hong Kong's new financial ecosystem," believing that relying on the existing regulatory framework of the Hong Kong Special Administrative Region will lead to breakthrough development in this sector. During exchanges and discussions with colleagues, Crypto Salad has noticed that there has been ongoing debate about the so-called "compliance" issue. People's understanding of "what is compliance" varies, and there is often a situation where everyone has their own valid point. This phenomenon actually stems from differing opinions on the concept of RWA. Therefore, Crypto Salad finds it necessary, from the perspective of a professional legal team, to discuss how the concept of RWA should be properly defined and to clarify the compliance red lines for RWA. 1. How should the concept of RWA be defined? (1) Background and advantages of RWA projects

The OCC's report reveals that nine major banks denied services to lawful businesses, including crypto firms, based on industry type, raising concerns about "Operation Choke Point 2.0." The agency is investigating potential unlawful discrimination while advocating for fair banking practices.

Maximal extractable value (MEV) refers to the economic value diverted from users by block builders through the manipulation of transaction ordering. The most harmful type of MEV are sandwich attacks, where an attacker simultaneously frontruns and backruns a victim’s swaps. This gives the victim a

Gate launches extra reward pool for BTC 7-day fixed-term Gate is launching a brand new extra reward pool for BTC 7-day fixed-term financial products. During the event period, users who complete a subscription will receive an additional 10% annualized reward bonus. Based on the original earnings, the comprehensive annualized rate for this product can reach up to 10.28%. A total of 1,000,000 RLS is available for extra rewards, distributed on a first-come, first-served basis. Once the quota is used up, no further allocation will be made. Product Information: BTC principal eligible for bonus BTC 7-day fixed-term product details Product type: BTC 7-day fixed-term Extra reward APR: 10% Maximum principal eligible for bonus: 0.05 BTC Complete subscription rules, redemption methods, interest, and reward details are subject to the subscription page. Principal portion that meets the requirements

MicroStrategy (MSTR) has acknowledged for the first time that if its stock price remains below 1 times its book value for an extended period, the company may sell some Bitcoin. This company, which has made "never selling Bitcoin" a corporate belief over the past five years, holds approximately 650,000 Bitcoins, accounting for about 3% of the global Circulating Supply. The company is burdened with a mandatory annual preferred stock dividend of 750-800 million USD, which is not the type of expense that can be reduced during poor market conditions, but rather a rigid expenditure written into the contract.

According to the latest research report from the Central Bank of Sweden, as of December 2, the global stablecoin market size has surged from $4 billion in January 2020 to $272 billion in October 2025, with 99% pegged to the US dollar. The report points out that stablecoins, as a type of digital asset based on Distributed Ledger technology, are gradually expanding from being a tool for Crypto Assets trading to practical application scenarios such as Decentralized Finance and cross-border payments. The EU has implemented regulations on stablecoins through the MiCA framework, requiring issuers to be fully asset-backed and ensure instant redemption at face value; the US, on the other hand, passed the GENIUS Act in July 2025, allowing for a broader selection of supported assets. The report warns that stablecoins may lead to increased dollarization, financial stability risks, and asset runs, while acknowledging their potential to improve payment services. The central bank is considering whether to allow stablecoin issuers.

Author: Charlie Liu As Wall Street and Silicon Valley are immersed in the warm atmosphere of the Thanksgiving long weekend, perhaps the last piece of major news about stablecoins this year comes from Beijing across the ocean. Last Friday, the central bank led a meeting with 13 major national ministries to establish a significant coordination mechanism for combating virtual currency trading speculation. The core message from the media release after the meeting was very clear: activities related to virtual currencies are considered illegal financial activities, and stablecoins are explicitly defined as a type of virtual currency, which cannot be circulated or used as currency in the market. For readers who have been paying attention to the mainland market, this argument is all too familiar: the policy documents from 2021 are still effective, the red lines have not loosened, and have even been drawn more clearly. Whether it’s Bitcoin or various air coins, especially the stablecoins that have been very popular this year, they are all put into the category of "illegal financial activities," and continue to be a key focus for financial security.

null Author: Jiawei, IOSG one Prediction Markets are undoubtedly one of the most notable sectors in the cryptocurrency industry. The leading project Polymarket has an accumulated trading volume of over $36 billion and recently completed a strategic funding round with a valuation of $9 billion. Meanwhile, platforms including Kalshi (valued at $11 billion) have also received substantial capital injections. ▲ Source: Dune However, behind the continuous influx of capital and impressive data growth, we find that prediction markets, as a type of trading product, still face many issues. In this article, the author attempts to set aside the mainstream optimism and provide some observations from different perspectives. 01 Predictions are based on events—events are essentially discontinuous and不可

I. Core Argument The international monetary order is undergoing a fundamental reorganization, which is not the result of deliberate actions by central banks or multilateral institutions, but rather stems from the emergence of an offshore entity that most policymakers still find difficult to categorize. Tether Holdings Limited (the issuer of the USDT stablecoin) has constructed a financial architecture that extends the United States' monetary hegemony to the deepest parts of the global informal economy, while simultaneously laying the groundwork for ultimately circumventing this hegemony. This is not a story about cryptocurrency, but rather a story about the privatization of US dollar issuance, the fragmentation of monetary sovereignty, and the emergence of a new type of systemic actor that exists in the gray area between regulated finance and borderless capital. The passage of the GENIUS Act in July 2025 will solidify this shift into a binary choice faced by global dollar users: either accept the United States.

Author: Andrej Antonijevic, Source: Bitcoin Treasury, Translated by: Shaw Golden Finance Introduction Banks have existed in various forms for hundreds of years. Their business model is typically based on a simple economic mechanism: they absorb deposits and use this funding base to provide financial products such as mortgages, business loans, payment services, and credit facilities. The difference between asset returns and liability costs forms the basis of their profitability. Due to the widespread, regulated, and measurable nature of this business model, capital markets have developed clear valuation methods for banks. One of the most widely used methods is the Price-to-Book (P/B) ratio framework, which directly connects the valuation of banks with their long-term return on equity, cost of capital, and sustainable growth rate. Entering the twenty-first century, a new type of balance sheet entity has emerged: Bitcoin treasury.

encryption asset panorama BTC（ -4.04% 丨 Current Price 87,405 USDT） After a long period of consolidation, BTC experienced a significant drop in the high price range (around $91,000), with a single large bearish candle breaking through the 5/10/30-hour moving averages, creating a rapid downward structure, with a minimum touching $86,317, confirming that the short-term trend has shifted from consolidation to downward. The three moving averages have shown accelerated downward pressure and formed a bearish arrangement, indicating that short-term selling pressure is dominant. In terms of morphology, this decline is large in magnitude and rapid in speed, characteristic of a typical "breakdown type decline," indicating that the support of the previous sideways range has been completely breached. Although the lower shadow shows some support at low levels, the rebound is limited, insufficient to rebuild the short-term structure. The two key signals to watch for are: whether it can return to the $88,600–89,000 range (MA5

TL，DR In November 2025, the United States faced a government shutdown that resulted in missing key economic data. Coupled with weak employment, declining consumption, and unclear policy direction, market expectations fluctuated repeatedly, leading to a divergence between economic growth and inflation signals. Although external risks have eased somewhat, the overall recovery remains moderate, with an increased reliance on policy transparency, data recovery, and market confidence. In November, the average daily trading volume of the cryptocurrency market was approximately $180.8 billion, showing characteristics of short-term activity with frequent inflows and outflows of funds but lacking a sustained trend. During the same period, the total market capitalization fell from about $3.88 trillion to a low of $2.98 trillion, with several brief rebounds failing to reverse the overall downward trend. Newly launched popular tokens such as Monad, Pieverse, and Allora were actively traded, but the activity level of meme-type projects was relatively low. In November, BTC spot ETF saw a significant net outflow of 35.8 billion USD, ETH current

The UK has launched a new tax framework to ease the burden on DeFi users, implementing a deferral of Capital Gains Tax for cryptocurrency lending and liquidity pool users until the underlying tokens are sold. Her Majesty's Revenue and Customs (HMRC) has proposed a "no gain, no loss" approach to DeFi, which will cover lending tokens and receiving the same type of tokens back, borrowing arrangements, and transferring tokens to liquidity pools.

Recently, JPMorgan submitted a new type of Bitcoin structured note scheme to the U.S. Securities and Exchange Commission. This product is based on BlackRock's iShares Bitcoin Trust, which has a scale of $69 billion, allowing investors to gain up to 1.5 times the rise in Bitcoin through a leverage mechanism. According to the terms designed, if the Bitcoin price does not reach the trigger conditions before December 21, 2026, the investment period will automatically extend to 2028, during which the profit space is "unlimited." However, the document also warns that when the Bitcoin price falls by 40%, investors may face significant losses of principal. This innovative financial instrument marks that Financial Institutions are intervening in the encryption asset field with more complex product forms.

Ethereum has spent more than a month in a pronounced downward trend, gradually shaping a major bearish rounded top. This type of formation typically appears in the late phase of a trend and often warns that additional weakness may follow unless buyers step in convincingly. Since October 28, the

In October 2025, the U.S. Department of Justice announced the seizure of 127,000 Bitcoins belonging to Chen Zhiming, the founder of the Cambodian BCH Group, causing a huge stir in the global crypto assets sector. This batch of digital assets, which once had a market value of up to 15 billion USD, transformed from "victim assets" stolen in 2020 to "involved subjects" identified in 2025, not only turning Chen Zhi from a victim into a transnational defendant but also exposing many deep contradictions in cross-border law enforcement and Bitcoin regulation in the digital economy era. Sister Sa's team introduced the case overview of "Chen Zhi" to explore the technological truths and legal controversies behind this case. By discussing issues related to private keys in Crypto Assets, it reveals the challenges and cooperation shortcomings in governing transnational crimes in the digital age, providing an important sample for us to examine the legal positioning and regulatory paths of Crypto Assets. Case Analysis December 29, 2020

The character Michael Burry, the prototype of the movie "The Big Short," became famous for making accurate predictions during the 2008 housing market crash. He was disclosed by the media to be shorting NVIDIA ( and Palantir, causing a wave of panic. According to quarterly regulatory filings released earlier by Burry, his hedge fund company Scion Asset Management bought put options ) on these two tech companies; a type of options contract that allows the buyer ( Burry) to profit when the stock price falls. NVIDIA (NVDA() just released its Q3 earnings report, and the stock actually rose on that day instead of falling. So, how much could Michael Burry potentially lose by buying put options?

The current DeFi fund manager model in implementation is an accountability vacuum, with billions of dollars of user funds managed by entities whose actions lack substantial constraints and whose failures have no real consequences. (Background: How to activate dormant DeFi capital, what is 1inch's new shared liquidity protocol Aqua?) (Additional context: Is Ripple introducing a staking feature? The CTO discusses the "dual-layer consensus model": adding a DeFi yield layer to XRP.) The current DeFi fund manager model in implementation is an accountability vacuum, with billions of dollars of user funds managed by entities whose actions lack substantial constraints and whose failures have no real consequences. The rise of DeFi fund managers Over the past year and a half, a new type of financial intermediary has emerged in the DeFi space. These entities call themselves "risk managers," "vault managers," or "strategy operators." They manage.

Written by: YQ Compiled by: AididiaoJP, Foresight News The rise of DeFi fund managers In the past year and a half, a new type of financial intermediary has emerged in the DeFi space. These entities call themselves "risk managers," "vault managers," or "strategy operators." They manage billions of user deposits on protocols like Morpho (approximately $7.3 billion) and Euler (approximately $1.1 billion), responsible for setting risk parameters, selecting collateral types, and deploying yield strategies. They take 5% to 15% as performance fees from the generated profits. However, these entities operate without licenses, are unregulated, do not require mandatory disclosure of qualifications or performance records, and often hide their true identities. November 2025

Santiment’s latest data shows something most traders don’t expect during a bloody week in the crypto market. Bitcoin, Ethereum, and XRP all saw a clear wave of retail holders panic selling into the dip. Historically, this type of behavior has often appeared near local bottoms, not tops, which is

On November 18, 2025, AMINA Bank's Hong Kong subsidiary, regulated by the Swiss Financial Market Supervisory Authority, received an upgrade to its Type 1 license from the Hong Kong Securities and Futures Commission, becoming the first international banking group to provide comprehensive cryptocurrency spot trading and custody services in Hong Kong. The platform supports 13 cryptocurrencies, including Bitcoin and Ether, and offers professional investors 24/7 trading, SOC 2 verification custody, and institutional-level execution services. This milestone event marks the rapid evolution of Hong Kong's digital asset regulatory framework, with the digital asset market in Hong Kong achieving a year-on-year growth of 233% in 2025, and institutional demand for secure and compliant custody infrastructure continues to rise.

Decentralized Finance aggregation protocol: Business and bottom line beyond technology In the past two years, the number of DeFi cross-chain aggregation exchange protocols has grown exponentially. Project teams are talking about "cross-chain liquidity," "optimal routing," and "seamless exchange," but in this field, those that can truly survive are often not the ones with the flashiest technology, but those who understand operations and risk control. The core of this type of protocol is actually "matching + settlement"—just in a decentralized form. Whenever user asset flow, matching, exchange, or bridging is involved, it essentially touches on financial logic. Technology can solve efficiency issues, but compliance determines whether it can survive in the long run. Recently, I have received a lot of inquiries about Decentralized Finance projects: Someone wants to do a code security audit, fearing being wiped out by hackers. Someone asked about trademark registration, worried about being "brand-surfed"; Someone is financing and needs to design a plan and contract. Some people want to know whether a license is needed, and that

According to Mars Finance, on November 18, Coindesk reported that Mastercard has chosen Polygon to build a new type of encryption transfer system, allowing cryptocurrency transfers using readable usernames instead of complex wallet addresses. According to the press release from Mastercard, its "crypto credential" technology standardizes blockchain address verification by creating human-readable aliases for verified users. The encryption payment API company Mercuryo will be responsible for identity verification and alias issuance, allowing users to bind these aliases to hosted wallets. This model mimics the operational logic of applications that transfer funds using usernames rather than bank account information, with the system assigning a unique name that can be linked to a wallet. Users can also apply to generate credential tokens on Polygon, which not only demonstrate their wallet's support for verified transfer functions but also assist applications in completing credential-based transactions.

AMINA (Hong Kong) Limited has obtained a Type 1 license from the Hong Kong Securities and Futures Commission, becoming the first international banking group to provide encryption spot trading and asset custody services to professional investors. The services cover a variety of encryption assets and plan to expand into private sale fund management and derivation fields.

Author: Scott Duke Kominers, a16z Research Partner; Eddy Lazzarin, a16z Chief Technology Officer; Miles Jennings, a16z General Counsel; Tim Roughgarden, a16z Head of Research; Translation: @Golden Finance xz We have recently built a brand new classification system for token types, covering network tokens, collectible tokens, and memes.

On November 19, the Royal Court of Southwark in London sentenced Qian Zhiming, the main perpetrator in a multinational Bitcoin money laundering case, to 11 years and 8 months in prison. This Chinese woman, referred to by prosecutors as a "super villain," was involved in a $5.6 billion investment fraud. The case shows that Qian Zhimin raised 40 billion RMB from 128,000 investors through an unlicensed Chinese investment company, and then fled to the UK via Southeast Asia using a forged passport. In a 2018 anti-money laundering operation, UK police seized over 60,000 Bitcoins, which were worth 1.8 billion USD at the time and have now reached 6.4 billion USD at current prices. This case set the record for the largest cryptocurrency seizure by UK law enforcement and also exposed a new type of money laundering model that utilizes crypto assets for cross-border transfer of criminal proceeds.

As the crypto industry matures, innovative token models are reshaping how digital economies operate. A recent report highlights the potential of blockchain-based “arcade tokens,” a type of digital asset designed to serve as stable, utility-focused tokens within specific software ecosystems. These t

Author: a16z Compiled by: Block unicorn Original link: Statement: This article is reprinted content, and readers can obtain more information through the original link. If the author has any objections to the form of reprinting, please contact us, and we will make modifications according to the author's request. Reprinting is for information sharing only and does not constitute any investment advice, nor does it represent Wu's viewpoints and positions. We have recently compiled a brand new and comprehensive classification system for types of tokens, which includes network tokens, collectible tokens, and meme coins. Among the seven types we have identified, arcade tokens are the least known and most underrated: a type of token that maintains relative value stability within a specific software or product ecosystem, typically managed by the issuer (such as a company). Essentially, arcade tokens are a blockchain-based form of asset, similar to certain assets that people are already familiar with: for example, airline miles, credit card points, and in-game digital currencies.

Authors: a16z, Scott Duke Kominers, Eddy Lazzarin, Miles Jennings, Tim Roughgarden Preface We recently organized a brand new and comprehensive classification system for token types, which includes network tokens, collectible tokens, and meme coins. Among the seven types we identified, arcade tokens are the least known and most underrated: a type of token with relatively stable value within a specific software or product ecosystem, usually managed by the issuer (such as a company). Essentially, arcade tokens are a form of blockchain-based asset, similar to certain assets that people are already familiar with: such as airline miles, credit card points, digital coins in games, etc. What they have in common is that they are currencies circulating within a market economy that support its operation: for example, frequent flyer miles and rewards.