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Interpretation of the FIT21 Bill: Defining digital assets and their regulatory framework
On May 22, 2024, the U.S. House of Representatives passed the FIT21 Act with a vote of 279 to 136. The full name of this act is "21st Century Financial Innovation and Technology Act," which establishes a regulatory framework for digital assets and could become one of the most far-reaching pieces of legislation affecting the cryptocurrency industry.
Division of regulatory responsibilities
The bill categorizes digital assets into two types: digital commodities and securities. According to this classification, regulatory responsibilities are undertaken by two main agencies:
- Commodity Futures Trading Commission ( CFTC ): responsible for regulating digital asset trading and related market participants
- Securities and Exchange Commission ( SEC ): Responsible for regulating digital assets considered as securities and their trading platforms.
Definition of digital asset
The bill defines "digital asset" as a form of interchangeable digital representation with the following characteristics:
- Can be done without intermediaries

The stablecoin plan of the Kaia public chain: opportunities and challenges coexist.
Recently, the Kaia public chain has become one of the focal points in the crypto market due to the strong performance of its token price. Since its establishment in August 2024, Kaia has been committed to enhancing technical performance and expanding its ecosystem. Recently, its actions in the stablecoin and payment sectors have sparked widespread discussion within the industry. Senior officials from the Kaia Foundation stated, "Kaia's stablecoin summer is coming soon," suggesting that its fiat-pegged token plan is accelerating.
With the new government in South Korea taking office, the policy signal supporting the issuance of a Korean won stablecoin is becoming increasingly evident. The Kaia team has seized this opportunity and announced plans to launch a Korean won stablecoin in collaboration with several super applications. This news has sparked a strong market reaction, with related concept stocks surging in price, and the Kaia token rising from about $0.10 to a peak of $0.17, reflecting the market's optimism about the prospects of local stablecoin projects in South Korea.

The starting point of the structural slow bull for Bitcoin has already formed.
We are at the starting point of a slow bull cycle for Bitcoin that spans even a decade. The approval of the Bitcoin ETF by the end of 2023 is a key turning point that drives this trend. Since then, the market attributes of Bitcoin have begun to undergo a qualitative change, gradually transforming from a purely risk asset to a safe-haven asset. Currently, Bitcoin is in the early stages of becoming a safe-haven asset, while the United States has also entered a rate-cutting cycle, which provides a good growth space for Bitcoin. The role of Bitcoin in asset allocation is shifting from "speculative object" to "asset allocation tool," stimulating a longer-term demand increment.
The evolution of the asset characteristics just happens at the turning point where monetary policy shifts from tight to loose. The Federal Reserve's rate-cutting cycle is not only an abstract macro background but also has a substantial impact on Bitcoin, altering the signals of capital pricing.
Under this mechanism, Bitcoin presents new operational characteristics.

On the 16th anniversary of the birth of the Bitcoin Genesis Block, we reflect on the 2013 debate regarding the establishment of the "Bitcoin News Center," which revolved around whether Roger Ver and Jon Matonis should become media contacts, reflecting the diversification of the Bitcoin community and the drawbacks of centralized decision-making. This debate explored the essence and development direction of Bitcoin, ultimately leading to the creation of a new and more representative website.

Stablecoins will rapidly gain popularity between 2023 and 2025, especially in payments and cross-border transactions. Despite facing contradictions in design and ecosystem development, projects like Maitrix are responding to challenges by launching over-collateralized stablecoins. At the same time, innovative solutions such as Gaib and USDAI meet the financing needs for AI computing resources, promoting the development of the stablecoin ecosystem. In the future, AI strategy tokenization will enhance the potential of Decentralized Finance, but Risk Management still needs to be followed.

The macro environment and capital momentum resonate, and the crypto market enters a consolidation phase.
The current macroeconomic environment has increased uncertainty, suppressing market risk appetite. The expectations for a Federal Reserve interest rate cut have been delayed, coupled with rising tariffs and geopolitical risks, which have put pressure on the market. In terms of capital flow, although there has been some improvement, the structural differentiation is evident. After a large inflow into ETFs at the beginning of the month, this week saw a reversal to negative values, with a moderate increase in stablecoin issuance, and the off-exchange USDT premium has fallen below 100%, reflecting a cautious attitude towards capital.
The mainstream crypto market shows a pattern of BTC fluctuating under pressure and ETH weakly bottoming out. BTC remains relatively strong but the upward momentum is weakening, while ETH shows signs of bottoming out but overall still appears weak. The altcoin market suffers from depleted liquidity, with risks continuing to be released. TOTAL2 and TVL are both declining simultaneously, and the market cap share of OTHERS has broken down.
At this stage, it is recommended to maintain a defensive position configuration. Attention can be paid to the strength and weakness turning points of ETH and the rhythm of capital inflow, waiting for the right timing.

Ethereum's Possible Future: The Surge
The roadmap for Ethereum originally included two scaling strategies: sharding and Layer 2 protocols. Sharding allows each node to only verify and store a small portion of transactions, while Layer 2 protocols build networks on top of Ethereum, leveraging its security while keeping most data and computation off the main chain. As research progressed, these two paths eventually merged, forming a Rollup-centric roadmap, which remains Ethereum's scaling strategy to this day.
The roadmap centered around Rollup proposes a simple division of labor: Ethereum L1 focuses on becoming a powerful and decentralized base layer, while L2 takes on the task of helping the ecosystem scale. This model is ubiquitous in society: the existence of the court system ( L1 ) is not for the pursuit of ultra-speed and efficiency, but to protect contracts and property rights, while entrepreneurs ( L2 ).

Fully Homomorphic Encryption (FHE): A Privacy Protection Tool in the AI Era
Recently, although the encryption market has been performing moderately, there are still some emerging technologies gradually maturing, among which fully homomorphic encryption (FHE) is a noteworthy technology. In May of this year, Ethereum founder Vitalik Buterin also published an article about FHE, sparking widespread discussion in the industry.
To understand the complex concept of FHE, we first need to understand the meanings of "encryption" and "homomorphic", and why we need "fully" homomorphic.

The Meme Token market is warming up, with both established and new players advancing together.
Recently, the crypto market has shown signs of recovery, with Meme tokens leading the market sentiment warming up. Although the overall crypto market is still in a consolidation phase, the Meme sector has begun to become active, with some token prices continuously rising, driving the sentiment recovery of the entire sector. This article will outline the Meme tokens that have performed particularly well recently, helping you understand the current market hotspots.
It is important to note that the prices of Meme Tokens are highly volatile and carry significant risks. Investors should carefully assess the risks before making any decisions. This article is solely for the purpose of organizing and sharing information on market trends and does not constitute any investment advice.
Old-school Meme Token comes back to life
Fartcoin (Solana chain )
As a representative of the "meaningless" Meme Token that attracted much attention last year, Fartcoin has rebounded first in this round of market. Its market capitalization has now reached 11.

Development History and Project Analysis of the Blockchain Industry
Emerging industries usually follow a pattern: going through multiple cycles of rises and falls until reaching a peak. This process typically includes at least three cycles. Research shows that the rise of things often goes through three stages: undervaluation, value discovery, and bubble. The current development trajectory of the blockchain industry is quite similar to that of the early internet, and it is currently in the bubble stage.
Looking back at history, in the early 1980s, it was hard for people to imagine the extent of today's reliance on computers and the internet. At that time, mainstream media generally considered these technologies to be mere toys. Similarly, in the 1990s, Microsoft was underestimated by many, who believed its stock had reached the limits of growth. However, it turned out that these predictions were all wrong, and Microsoft's stock price has increased a hundredfold since then.
Bitcoin, as the pioneer of the Blockchain industry, has gone through an 11-year journey. From its initial circulation on the dark web, to attracting the attention of hackers, and then facing regulatory challenges, as well as the latter...

The prediction market is rapidly developing, becoming an important channel for ordinary people to obtain information. Vitalik Buterin believes that the future of information finance will combine prediction markets with traditional news, expanding applications, especially in areas such as social media and governance. The rise of artificial intelligence will further enhance the effectiveness and scope of information finance, helping to solve trust issues.

Crypto Assets Weekly: Ether Breaks Above $4,000 for the First Time in Over Two Years
Welcome to this week's Crypto Assets market summary. We bring you key market trends, in-depth insights into emerging protocols, and the latest industry developments, aimed at enhancing your expertise in Crypto Assets and Web3.
Market and Industry Snapshot
Last week, the Layer 2 ecosystem showed widespread growth, with Starknet experiencing the most significant increase at 19.64%. Stear Protocol, Polynomial Protocol, Interport Finance, Fringe V2, and Carmine.

From Web3 Frenzy to Rational Thinking: The Growth Path of Post-00 Entrepreneurs
In the current Web3 craze, a group of post-00s young people have begun to venture into this emerging field. Some of them entered the industry early, having come into contact with Bitcoin during their teenage years; others only joined this circle in recent years, but quickly adapted to the fast-paced entrepreneurial environment. These young entrepreneurs have experienced a journey from initial curiosity and excitement, to later calm reflection, and now to a rational perspective. Their stories reflect another side of the Web3 industry.
Get in early, start exploring during adolescence.
Meepo, a Fujian native, was born in 2000 and was introduced to Bitcoin mining in the sixth grade. His parents are financial PhDs who tried mining out of interest and encouraged Meepo to study the technology. Although mining did not bring Meepo much profit at that time, he

API3's Innovative Breakthrough: First-Party Oracle Machine and OEV Network
Although Oracle Machine and DeFi are not emerging fields and the competitive landscape has basically taken shape, API3 has still successfully opened up new opportunities in these two mature markets.
Data Growth
In 2024, the collateral value of the API3 Oracle Machine ( TVS ) has seen significant growth. Not only has the absolute value increased, but its market share has also noticeably improved. According to data platform statistics, API3's TVS has risen from 0.02% in May 2023 to the latest 0.22%, a tenfold increase. Although the 0.22% share is still small, considering that the newly launched OEV network is still in the testing phase, there is enormous potential for future growth.
The advantages of first-party Oracle Machines
First-party Oracle Machines and third-party Oracle Machines appear similar in terms of data flow, as both involve data providers transmitting data to the demand side (.

As the Director of Research for First-Class Cabin, Stewart shared his Crypto Assets investment strategy, primarily focusing on alts without setting fixed return targets. Through in-depth research and analysis of the AAVE project, he achieved successful trading. In light of the current market challenges, Stewart advises investors to shift their mindset, follow market speculation trends, and avoid being tied to past investment models.

Sonic SVM Depth Research: Solana on-chain Game Scaling Solutions
1. Project Overview
Sonic SVM is the first SVM on the Solana blockchain ( Solana Virtual Machine ) Layer 2 network expansion project, focusing on optimizing gaming and high-frequency interactive applications. The project's vision is to expand the Solana infrastructure based on the HyperGrid architecture, providing game developers with a high-performance, low-cost blockchain environment to support large-scale online games and applications, meeting the growing demands of Web3 users.
Project Development History
- 2023: Core team formation, technology research and development initiation
- March 2024: White Paper Release
- June 2024: Complete $12 million financing and launch testnet
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The ETHCC7 conference attracted numerous participants in Brussels, mainly discussing topics such as infrastructure, AI, and consumer applications. The importance of scalability was emphasized in terms of infrastructure, while AI is believed to optimize Decentralized Finance platforms and transform Blockchain applications. In terms of consumer applications, various emerging projects are dedicated to making Blockchain technology more user-friendly. Overall, ETHCC7 showcased the potential and direction for the future development of the Ethereum ecosystem.

MEME coin: The core symbol of Web3 culture
MEME plays a core role in Web3 culture, rapidly resonating within the digital currency community through unique dissemination methods and widespread popularity. These often humorous and satirical digital images or concepts not only deepen the connections among community members but also serve as important means of expressing opinions, emotions, and market trends.
MEME can transcend language and cultural barriers, achieving widespread dissemination at a very low cost, and thus plays an indispensable role in promoting the awareness and participation of Web3 projects.
Recently, the performance of MEME coin in the market has attracted widespread attention. According to data from the data platform, both the market capitalization and trading volume of MEME coin have shown significant growth, reflecting the popularity of this type of coin and the high interest of investors.
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