1.a16z: How to distinguish between network tokens and company-supported tokens

Distinguishing between network tokens and company-supported tokens may be challenging, because both of these tokens may be practical and can obtain some value from the on-chain functions of the blockchain and the off-chain efforts of the company. However, it is crucial to distinguish between these two tokens: the risks posed by the network tokens posed very different to the company's support tokens to holders and should therefore be treated differently under applicable law. So, what is the difference? Click to read

2. From Hong Kong to Denver Ethereum is entering the "Dunkirk Moment".

I believe you have seen many records of Consensus HK in the previous two weeks. I will not repeat it anymore. I can summarize most of them as disappointed in the industry and cannot see the prospect of breaking the situation, and think that it has reached a bear market. That week was also a feast for young players and KOL masters. The impact of my trip to Hong Kong was reasonable. Those young players and masters who worked harder than funds and entrepreneurs deserved so much, and they are surreal investors. They can always put a perfect end to every transaction. The trading principle of many young players is 90% or BTC, and 10% active sol positions maintain PVP and sprint at any time. No matter how much profit they make, they will implement such position allocation. Because of the meme wave and attention economy, this became the most lively discussion in HK. Click to read

3. Currency Analysis - From "stable" to "moderate easing"

After the Central Bureau meeting held on December 9, 2024 proposed to implement "moderate easing currency", the Central Economic Work Conference held from December 11 to 12, 2024 once again emphasized the orientation of currency. This is the first time in more than a decade that my country's expression of currency orientation has shifted from a "stable currency" to a "moderately loose currency", which has attracted high attention from the market. This article analyzes the direction of moderately loose currency, which involves several important issues: Why should we implement moderately loose currency? What measures may be taken by the central bank? What impact may a moderately loose currency have? Click to read

4. Is the stablecoin a new financial system or will it be replaced?

Stablecoins account for two-thirds of all on-chain transactions, whether for redemption, DeFi transactions, or simple transfers. In the earliest days, stablecoins rose to prominence due to Tether, the first widely used stablecoin, born in the context of Bitfinex users seeking solutions due to bank accounts restricted. Bitfinex creates USDTether, which is pegged to the US dollar in a 1:1 ratio. Then, USDT spreads quickly, and traders use it to arbitrage between different exchanges. Compared to bank wire transfers that require several days of processing, USDT transactions can be completed in just a few minutes. Click to read

5. Can Bitcoin return to $100,000? Can the full bull market come back?

In recent times, the crypto market has faced severe pullback pressure, but many early Bitcoin participants (OGs) still believe that the current bull market has not yet fully launched. Their reason is that although Bitcoin reached more than US$100,000 in early 2025, its performance is not as crazy as the previous bull markets. Of course, predicting the future is very difficult, but there are four key points in 2025, which may be the main factors that determine whether Bitcoin can reach more than US$100,000 again and start a full bull market... Click to read