🚨LATEST: Bitdeer added 38 $BTC to its holdings, now totaling 1,675.9 $BTC. https://t.co/2rLvTiSddN ...

Tether announced its investment/venture capital portfolio, having invested in over 120 companies. The portfolio includes companies such as CityPay, Bitdeer, and Crystal Intelligence. https://t.co/kc39zWdahk ...

🔥 LATEST: Bitdeer mined 57 BTC this week. Total holdings now at 1,527.5 BTC. https://t.co/T7Cy8K5nOx ...

🔥 LATEST: Bitdeer added 40.3 BTC to its holdings this week, bringing total to 1,486.1 BTC. https://t.co/truUEdcy13 ...

Core Viewpoint - The article emphasizes that Huaxing Capital is strategically transitioning into the WEB 3.0 and digital asset sectors, aiming to become a core player in global WEB 3.0 investments while leveraging its existing strengths in traditional finance [1][5]. Personnel Changes - Huaxing Capital appointed Frank Fu Kan and Chen Jiali as independent non-executive directors, both bringing extensive industry experience, particularly in blockchain technology and digital currencies [2]. Business Strategy - The company has approved a budget of $100 million to develop its WEB 3.0 business and invest in digital currency assets over the next two years, focusing on stablecoins, RWA (real-world assets), and the entire digital asset ecosystem [1][5]. - The board's strategic move is part of Huaxing's "2.0 era" initiative, which aims to solidify its existing business while expanding into new technology-driven sectors [3][5]. Performance and Achievements - Huaxing Capital has shown a strong recovery in its overall business, particularly in artificial intelligence and mergers and acquisitions, with significant IPO successes, including the notable performance of Circle Internet Group [3][4]. - The company has a history of successful investments in the blockchain sector, including leading roles in the IPOs of various tech firms [4]. Future Outlook - The strategic focus on artificial intelligence, mergers and acquisitions, and blockchain technology positions Huaxing Capital as a bridge between Web 2.0 and Web 3.0, enhancing its industry leadership and shareholder value [5].

Market Overview - The total market capitalization of the cryptocurrency industry decreased by $633.5 billion, a decline of 18.6%, ending the first quarter of 2025 at $2.8 trillion, down from a peak of $3.8 trillion on January 18 [1][15][18] - Daily trading volume averaged $146 billion, a decrease of 27.3% compared to the previous quarter [1][15] - Bitcoin's market share increased by 4.6 percentage points to 59.1%, while Ethereum's market share fell to 7.9%, the lowest since the end of 2019 [1][18] Stablecoins vs. Mainstream Assets - The total market capitalization of stablecoins grew by $24.5 billion, reaching a historical high of $226.1 billion, with USDS surpassing USDe to become the third-largest stablecoin [2][24] - Bitcoin and the S&P 500 index maintained a high correlation during the quarter, both declining due to macroeconomic factors, with the annualized volatility of the cryptocurrency market at 56.3%, 3.4 times that of the S&P 500 [2][27] Key Trends and Major Events - AI tokens and meme coins captured 62.8% of investor attention, with the "Made in America" concept gaining traction due to Trump-related policies [3][30] - Significant events included Solana's trading volume surge, the launch of Trump-related tokens, Uniswap v4 going live, and a hacking incident at Bybit, each impacting the market to varying degrees [3][31] Bitcoin and Ethereum Dynamics - Bitcoin's price reached a historical high of $106,182 shortly after Trump's inauguration but fell by 11.8% during the quarter due to U.S. tariff policy concerns, ending at $82,514 [4][35] - Bitcoin mining hash rate increased by 9.5%, despite the price drop, while Ethereum's price plummeted by 45.3%, erasing all gains from 2024 [4][38] DeFi and NFT Market - The total market capitalization of DeFi fell by 19.3% to $96 billion, with multi-chain DeFi total value locked (TVL) decreasing by 27.5% [5][12] - NFT trading volume declined, particularly on the Ethereum blockchain, while Bitcoin's Ordinals protocol gained traction, leading to significant growth on the Magic Eden platform [5][12] Exchanges and Perpetual Contracts - The total trading volume of the top ten centralized exchanges decreased by 16.3%, with Bybit suffering a significant drop due to a hacking incident, while HTX was the only platform to show positive growth [6][12] - Trading volume on decentralized exchanges increased slightly by 6.2%, with Solana's ecosystem DEX performing notably well [6][12]

Core Viewpoint - Bhutan is leveraging its unique hydropower resources and innovative policies to establish itself as a significant player in the global cryptocurrency sector by launching the world's first national-level cryptocurrency payment system aimed at tourists [1][2]. Policy Guidance for Rapid Development - The national cryptocurrency payment system allows tourists to use over 100 cryptocurrencies for various expenses without needing to exchange local currency or open local bank accounts, covering services like visas, flights, accommodations, and shopping [2]. - The Bhutanese government aims to reverse the declining trend in tourism revenue and alleviate high unemployment rates, particularly among youth, while opening new economic growth points and reducing reliance on tourism [2]. - Bhutan holds over 13,000 bitcoins, valued at over $600 million, accounting for approximately 30% of its GDP, and possesses other cryptocurrencies as well [2]. - The International Monetary Fund (IMF) report for 2024 suggests that if bitcoin prices stabilize above $60,000, Bhutan could repay central bank loans and generate profits through mining [2]. Green Energy Resource Assurance - Bhutan is one of the few negative carbon emission countries, with hydropower accounting for over 95% of its electricity generation, and has over 20,000 megawatts of hydropower potential, with less than 2% developed [4]. - The government is enhancing international cooperation for hydropower development to meet its renewable energy roadmap goal of adding 20,000 megawatts of capacity by 2040 [4]. - Low-cost, environmentally friendly hydropower offsets the high energy consumption concerns of bitcoin mining, allowing some mining profits to cover operational costs and generate fiscal revenue [4]. Economic Special Zone Innovation - In 2023, Bhutan initiated the establishment of a special administrative region in the southern town of Gelephu to create a "cryptocurrency-friendly" economic center [5]. - The government introduced the "Legal Applicability Act" in 2024 to provide a regulatory framework for digital asset financial services in the special administrative region [5]. - By January 2025, Bhutan announced the inclusion of bitcoin, ethereum, and Binance Coin as national strategic reserve assets, making Gelephu the first economic zone to hold multiple cryptocurrencies as reserve assets [5]. - Bhutan's strategy combines clean energy mining with economic zone innovations, creating a unique development path for landlocked countries based on their resource endowments [5].