AB Kuai Dong

I am very glad to meet CZ in Tokyo. This is his return to Japan after 7 years, and during this time, the entire industry has undergone tremendous changes.

At this event, I asked CZ a question: How do you view the on-chain of everything and the tokenization of stocks?

He replied: There have not yet been large-scale coin-stock products on the market. The possible reason is that each country and region has different policies, making it difficult for coin-stock investors to receive dividends and easily redeem stocks. There are also price differences during trading. However, projects on the chain are usually global in nature, which was a significant pain point back then.

Restrict areas or try to solve it?

But he reiterated that the trend of RWA cannot be stopped. $BNB

On Xiaohongshu, a fan of line-drawing dog emojis mistakenly marked a transfer of 250 yuan pocket money to her husband as 'dogecoin', which the bank misinterpreted as an off-exchange transaction of virtual currency.

As a result, she received a frozen bank card + a phone investigation.
$DOGE

The community no longer needs to argue about whether Stable or Plasma is the favored child of Tether, the parent company of USDT.

Because both tokens have fallen to a total market value of 1.6 billion dollars.

I've been watching the controversy in the English-speaking community all morning.

The general situation is that a research partner from Paradigm discovered a significant data statistical issue. Various mainstream tools have repeatedly counted the transaction volume of the prediction platform Polymarket, resulting in Polymarket's data performing exceptionally well.

He also posted a series of evidence he found.

As a result, several bloggers accused Paradigm of investing in Polymarket's competitor, Kalshi.

Recently, the prediction platform Kalshi has also been spending money on market promotions, raising valuation financing, and driving user growth, leading to suspicions that investors may have sent people to post and smear competitors.

It seems the entire crypto community is in a quarrel, along with an invisible business war.

Yesterday, Twitter held a reception in Tokyo. I looked at the materials they publicly shared. Although there are no data from Chinese-speaking areas, there is data from Japan, which must reflect the current trends on Twitter.

1. Ages 16 - 19 are the most active demographic group, accounting for about 74%. Next is the 20 - 29 age group, at around 70%. Meanwhile, approximately half of those aged 30 – 50 are still using it, which is an exceptionally high coverage rate in social media.

2. Currently, the data growth for young people has approached saturation, but the proportion of middle-aged and older users on Twitter is clearly rising. This is an extremely positive signal for content related to finance, politics, and investment, as this demographic has a high interest in these topics.

3. Although 1 in every 4 Twitter users is a teenager, those in the 30 – 59 age range make up 57% of the main user base.

Then Grok's conclusion is:

1. Young people love using Twitter, but they are not the whole picture.
2. Those aged 30 – 50 are the main force in Twitter's wealth, decision-making, and dissemination.
3. Twitter in Japan is a cross-age platform, not an entertainment platform.
4. This is why finance, cryptocurrency, AI, and political content naturally have a fertile ground on Twitter.

Image source XcorpJP

Waking up in the morning, I saw that Tether, the parent company of USDT, also officially announced its entry into Abu Dhabi ADGM, under the same framework as Binance.

They have obtained the "fiat-backed token" qualification certification. This means that institutions can legally engage in services related to USDT, such as trading and custody, within this global regulatory framework in Abu Dhabi.

It feels like this area is quickly becoming a haven market for cryptocurrency companies globally, simply put: a safe harbor.

$USDT

Increased buying for three consecutive weeks! The ETH micro-strategy BMNR led by Tom Lee announced last week's ETH buying situation, compared to previous weeks' single-week purchases of 54,000, 69,000, and 96,000 coins.

Last week, BMNR bought 138,000 ETH, setting the highest single-week increase record since mid-October.

Currently, the company has accumulated 3.2% of the total ETH in circulation, getting closer to the target of 5%.

Upon careful consideration, there is nothing wrong with being permanently bullish on mainstream cryptocurrencies.

Tom Lee stated during the market correction in 2018 that BTC was expected to rise to $25,000 by the end of the year, but it actually reached this level only in December 2020.

In June 2021, during another market correction, he mentioned that BTC would rise to $100,000 by the end of the year, but it only reached this level in December 2024.

So his target prices are basically correct, just the timing doesn't align.

This time he predicts BTC will reach $300,000, and ETH will be $20,000, don't be afraid of spot trading!

$SOL has a market value of nearly 75 billion in 21 years
The price of the coin is 247 USD

Now, in 25 years, the market value is again close to 75 billion
But the price of the coin is 134 USD

Market value data from: Coinmarketcap

Recently observed an interesting phenomenon

Bloggers are starting to dive into entrepreneurship or working for project parties

Meanwhile, those who have resigned from exchanges are beginning to try their hand at blogging

From a cyclical perspective, currently preparing projects and choosing to finance or issue tokens during next year's bull market when the Federal Reserve's interest rates are relatively low is indeed in line with the cycle

The above is no longer an isolated case in recent times

Ethereum is the largest stablecoin chain, has the largest DeFi infrastructure, the largest RWA commercial foundation, and even has two big talkers, Tom Lee and Cathie Wood.

Everything is good, except ETH doesn't rise.

There are 23 days left until the end of 2025.

Physical gold and silver have outperformed digital gold and digital silver, and even the Shanghai Composite Index has risen by 20%.

However, on Twitter, the Bitcoin MicroStrategy, which has many supporters, recorded an overall performance of -40% this year.

If in the crypto space, mainstream coins that are not BNB or ZEC currently have a yield that is basically negative?

A year of magic where traditional assets rise and crypto falls.

Although Upbit has gradually resumed withdrawals recently and the theft scandal has passed, according to reports from Yonhap News today, there have been 20 system incidents in the past 2 years at the five major cryptocurrency exchanges in South Korea!

South Korean authorities plan to amend secondary legislation and start tightening regulations.

Under the new rules, as long as a cryptocurrency exchange causes users to lose money due to theft or system problems, even if the exchange is not at fault, it must compensate without exception.

This also means that all exchanges in South Korea will have to unconditionally provide a safety net in the future.

Binance today released the reserve fund information for December. Compared to last month, the reserve ratio of stablecoins USDT and USDC has significantly increased. Among them, USDT has an excess reserve of 9.16%, and USDC has an excess reserve of 37.7%.

BNB remains the token with the highest excess reserves among mainstream coins, with platform reserve funds exceeding user funds by 12.32%, although there has been a slight reduction compared to last month.

A notable change is that since entering June this year, Binance's excess reserve ratio for stablecoin USDT has been steadily increasing, for example, it was 101.52% in June, but reached 109.16% in December.

Note: More excess reserves, especially for stablecoins, help the platform's risk resistance capacity, for reference only.

General Jin: Let me see which exchange, after Upbit and Bybit, will accept this honor.

Ensure that the next ETH conference takes place in Pyongyang.

Aster's CEO is the most down-to-earth practitioner I have ever seen.

His attitude towards life and work is reflected in his daily expressions.

$ASTER

Last night, Binance YZI Labs revealed the 2025 roadmap photos.

A total of 31 projects have received official collaboration certifications from YZI, and the vast majority have already issued tokens. They are focused on exploring future directions:

· Aster (derivatives DEX)
· Funes (digital heritage platform)
· Onekey (hardware wallet)
· Ethena (stablecoin protocol)
· Sign (digital sovereign identity)
· APRO (oracle)
· USD AI (synthetic stablecoin)
· Better Payment (payment network)
· Canton (privacy-preserving public chain)

Existing foundations:

· 1inch (liquidity DEX)
· Pancake (liquidity DEX)
· ListaDAO (on-chain lending)
· Pendle (yield protocol)
· LayerZero (interoperability protocol)
· Pyth (oracle)
· Particle (abstract wallet)
· Celestia (modular)
· Aptos (public chain)
· Sui (public chain)
· Optimism (public chain)
· Figment (blockchain infrastructure)

Official collaboration ecosystem partners:

· Trust Wallet (wallet)
· CoinMarketCap (market platform)
· CERTIK (security company)
· Dune Analytics (on-chain data)
· Injective (public chain)
· Polygon (public chain)
· YellowCard (payment)
· Republic (private placement platform)
· SafePal (hardware wallet)
· NYM (privacy platform)

The following image was taken on-site by Tokyo peer Yishi.

At that time, the community speculated countless reasons, such as program crashes, system bugs, etc., but it turned out to be CME Group's main data center.

On-site staff forgot to drain the cooling tower water before the temperature dropped to freezing, which resulted in the cooling system for the servers freezing and unable to function properly.

Ultimately, the server temperature kept rising, and the world's largest futures exchange was forced to pause for 10 hours.

A huge straw platform in the world..

The traditional world has sexual repression, Android, and labor theory

The cryptocurrency world has the 360 paradox

The current difficulty means that only a few people can really trade coins domestically