注：2024年3月，笔者与杨晓晨、王喆、陈胤默合著的《数字货币的边界：颠覆还是渐进式变革？》在东方出版社出版。2026年1月，笔者与包宏合著的 《加密货币突破数字边界：全球博弈与中国方略》在中信出版集团出版，这是笔者团队关于数字货币的第二本书。欢迎朋友们关注。目前本书已经可以在 京东商城等线上书店购买。 第七章 中国的应对方略 一、本书目录 第三章 重塑美元霸权：加密货币对国际货币秩序的冲击 第四章 改变权力平衡：加密货币的政治化与地缘工具化 第一章 回溯突破之路：加密货币与现实世界的融合历程 加密货币从极客世界接入现实的"第一段路"（2009—2013年） 加密货币与现实世界的接口全面扩大（2014—2017年） 加密货币行业"现实化"和重构的关键阶段（2018—2020年） 加密货币的主流化与全面融入现实世界（2021—2025年） 第二章 扩展货币流通域：稳定币作为链接加密与现实世界的关键桥梁 稳定币发展的"全景图"：驱动因素、属性类别及角色定位 美元稳定币的主导地位：形成历程、深层动因与系统性影响 从货币流通域视角分析稳定币何以"破圈" 稳定币对国际支付与结算体系的革新与挑战 法币数字化的路径之争：以 ...

Market Overview - US stock index futures are all up, with Dow futures rising by 0.04%, S&P 500 futures by 0.11%, and Nasdaq futures by 0.20% [1] - European indices also show positive movement, with Germany's DAX up 0.41%, UK's FTSE 100 up 0.52%, France's CAC 40 up 0.86%, and the Euro Stoxx 50 up 1.06% [2][3] - WTI crude oil has increased by 0.73%, priced at $58.18 per barrel, while Brent crude oil is also up by 0.73%, priced at $62.44 per barrel [3][4] Economic Events - The US is anticipating a significant day with the release of the December non-farm payroll report and a Supreme Court ruling on Trump's tariff policy, which could impact market volatility [5] - Goldman Sachs indicates that the upcoming non-farm data is unlikely to change the market's expectations for the Federal Reserve's policy unless there is a significant surprise, with a consensus estimate of 70,000 jobs added [5] Company News - Meta has signed three major nuclear energy agreements totaling 6.6 gigawatts to secure long-term zero-carbon power for its AI data centers, leading to significant pre-market stock increases for partners Oklo and Vistra [9] - Trump has directed Fannie Mae and Freddie Mac to purchase $200 billion in mortgage-backed securities to lower housing costs ahead of the midterm elections, positively impacting related stocks [7] - Intel's stock has surged over 70% since the US government began purchasing shares, following a meeting between Trump and Intel's CEO to discuss new processor developments [10] - General Motors is taking a $6 billion charge to reduce its electric vehicle investments, following a similar move by Ford, indicating a contraction in the electric vehicle market [12] - TSMC reported a 20% increase in Q4 revenue, reaching approximately $33.1 billion, exceeding market expectations and suggesting resilience in AI spending for 2026 [13]

Core Insights - The trading volume of stablecoins reached an unprecedented scale last year, benefiting from favorable policies for cryptocurrencies under the Trump administration in the U.S. [1][2] Group 1: Trading Volume and Key Players - According to data compiled by Artemis Analytics Inc., the total trading volume of stablecoins is projected to surge by 72% in 2025, reaching $33 trillion [1][2] - The largest trading volume is attributed to Circle Internet Group Inc.'s digital dollar USDC, which is expected to reach $18.3 trillion, while Tether Holdings SA's USDT is projected at $13.3 trillion [1][2] Group 2: Adoption and Legislative Support - Stablecoins are cryptocurrencies pegged to mainstream asset prices, typically the U.S. dollar. The Trump administration actively embraced this technology and passed relevant legislation in July [1][2] - Major institutions, including Standard Chartered, Walmart, and Amazon, are exploring the issuance of stablecoins, indicating broader institutional adoption [1][2] Group 3: Market Trends and User Behavior - Despite the increase in total trading volume, the share of transactions on decentralized crypto platforms has declined, suggesting that mainstream users are increasingly utilizing cryptocurrencies [3] - Anthony Yim from Artemis noted that this trend reflects a growing adoption of digital dollars, especially in an environment of geopolitical instability, with citizens in inflation-affected countries preferring to hold dollars, making stablecoins an accessible option [3]

Group 1 - The core viewpoint of the articles highlights the significant growth of stablecoin trading volumes, driven by favorable policies under the Trump administration, with a projected total trading volume of $33 trillion by 2025, marking a 72% year-on-year increase [1][6] - Circle Internet Group's USDC leads the trading volume with $18.3 trillion, while Tether's USDT follows with $13.3 trillion [1] - The introduction of the "Genius Act" has established clear legal standards for stablecoins, contributing to their wider adoption among major institutions like Standard Chartered, Walmart, and Amazon [5] Group 2 - Despite the overall increase in funds, the trading volume on decentralized platforms has decreased, indicating a shift towards mainstream usage of stablecoins [2] - USDC is favored on decentralized finance (DeFi) platforms due to its frequent use in trading activities, while USDT is more commonly used for everyday payments and value storage [5] - The growth of stablecoins is expected to accelerate, with a record trading volume of $11 trillion in Q4 2025, up from $8.8 trillion in Q3 2025, and projections suggest that stablecoin payments could exceed $56 trillion by 2030 [6][9]

Market Performance - US stock indices opened lower, with the Dow Jones down 0.35%, S&P 500 down 0.10%, and Nasdaq down 0.20% [1] - Chinese concept stocks showed mixed performance, with the Nasdaq China Golden Dragon Index down 0.4%, Bilibili up over 3%, and Xpeng up over 1%, while Baidu, JD.com, and Pinduoduo fell over 1% [1] - Gold and silver stocks generally declined, with Hecla Mining down over 5% and Pan American Silver down over 3% [1] - Defense stocks performed strongly, with Lockheed Martin up over 6% and Raytheon Technologies up over 2% [1] Corporate News - The Ministry of Commerce of China stated that companies engaging in foreign investment and related activities must comply with Chinese laws and regulations, particularly regarding Meta's acquisition of Manus [2] - World Liberty Financial, co-founded by Donald Trump, is applying for a US banking license to expand its $3 billion stablecoin business [3] - Apple plans to introduce a 200-megapixel main camera in its iPhone by 2028, marking a significant upgrade from the current 48-megapixel camera [4] - Caterpillar announced an expanded partnership with Nvidia to enhance customer solutions and manufacturing systems through AI [5] - GSK's Bepirovirsen therapy for chronic hepatitis B has shown promising results in clinical trials, potentially leading to a functional cure [6] - McDonald's sold a property in Hong Kong for approximately HKD 119 million (USD 15.3 million), part of a larger strategy that has seen it sell six locations for a total of HKD 490 million [7] - A new study from Oxford University indicates that the effects of weight loss drugs diminish within two years after discontinuation [8][9] - Alibaba is committed to increasing investment in Taobao Flash Sales to achieve market leadership by 2026 [10] - Bawang Tea's potential Hong Kong listing is under consideration, but the company has stated there are currently no plans for an IPO [11]

Core Insights - The report from Binance Research indicates a favorable macro environment for crypto assets due to expectations of more aggressive interest rate cuts by the Federal Reserve in 2026 and the narrative surrounding Bitcoin as a strategic reserve in the U.S. [1] Market Trends - There is a noticeable trend of capital inflow into the crypto market, with the total market capitalization of stablecoins approaching $200 billion, and six stablecoins surpassing a market cap of $1 billion [1] - The Real World Asset (RWA) sector continues to expand, with the on-chain tokenized government bonds experiencing a month-on-month growth of 12%, reflecting a surge in institutional demand for risk-free on-chain yields [1] Sector Performance - The report highlights that sectors related to AI agents and decentralized infrastructure (DePIN) performed exceptionally well in December, with average gains significantly outpacing the broader market [1]

Group 1 - U.S. stock index futures are all down, with Nasdaq futures down 0.25%, S&P 500 futures down 0.17%, and Dow futures down 0.34% [1] - Major European stock indices are collectively down, with Germany's DAX down 0.08%, UK's FTSE 100 down 0.31%, France's CAC down 0.25%, and the Euro Stoxx 50 down 0.32% [2] - Chevron is reportedly negotiating with the U.S. government to expand its operating license in Venezuela to increase crude oil exports [7] - ExxonMobil expects a decrease in fourth-quarter profits by $800 million to $1.2 billion due to falling oil prices [8] - Lockheed Martin delivered a record 191 F-35 fighter jets to the U.S. and its allies last year [9] - Morgan Stanley will replace Goldman Sachs as Apple's credit card business partner [10] - Ford plans to launch an L3 level driving assistance system by 2028, allowing drivers to free their eyes and hands [11] - Disney leads the global box office with $6.58 billion, according to the 2025 Hollywood box office rankings [12] - Alibaba Cloud has released a multimodal interaction development kit applicable to AI glasses and robots [15] - JD.com has established a "Chameleon Business Unit," with the second batch of self-developed AI toys set to launch in mid-January [16] - XPeng will release four new cars at the beginning of the year and plans to scale production of humanoid robots and flying cars this year [17] - FF announced the FX Super One three-phase delivery robot strategy, expecting positive cash flow within three years [19]

Core Viewpoint - The article discusses the implications of the U.S. invasion of Venezuela and the subsequent appointment of Vice President Rodriguez as acting president, highlighting the U.S. intention to establish economic control over Venezuela, akin to colonial governance [1][12][15]. Group 1: U.S. Actions and Intentions - The U.S. has declared that Secretary of State Rubio will serve as the governor of Venezuela, indicating a clear intention of control [12][13]. - The approach mirrors historical British colonial practices, suggesting that the U.S. aims to turn Venezuela into an economic colony [15]. - The U.S. seeks to enhance the credibility of the dollar by acquiring new assets, viewing this as essential for maintaining its global financial position [16][18]. Group 2: Geopolitical and Economic Context - The expansion into the Americas is seen as a strategy to counteract the global contraction of U.S. influence and to secure new anchors for the dollar [17]. - The U.S. prioritizes acquiring high-quality assets in the Americas, which could significantly increase in value when managed by U.S. financial markets [18][19]. - The article suggests that physical assets are crucial for the future credibility of the dollar, emphasizing the need for tangible resources [20]. Group 3: Resource Acquisition and Cost Considerations - The U.S. is focusing on resource-rich countries in the Americas, with Venezuela, Greenland, and Canada identified as having relatively low costs for control compared to other nations like Brazil and Mexico [21]. - Following the invasion of Venezuela, the U.S. has expressed interest in Greenland, where the cost of acquisition is perceived to be low due to existing military presence [23]. - The article argues that while the U.S. could easily take control of Greenland, the main concern lies in managing European reactions, particularly from Denmark, which is a NATO member [24].

由美国总统唐纳德.特朗普共同创立的加密企业World Liberty Financial(WLFI.US)，正为其旗下一家实体 申请美国银行牌照，此举将助力其拓展市值达30亿美元的稳定币USD1业务。 World Liberty在其官网上将特朗普列为"荣誉共同创始人"。该公司通过发售WLFI代币进行融资，该代币 最初设计为不可转让的治理代币，后转为可交易代币。根据追踪机构CoinGecko数据，其稳定币 USD1(曾被某基金用于投资加密货币交易所币安)市值已达34亿美元。 World Liberty周三发布声明称，其旗下公司WLTC Holdings LLC已向美国货币监理署提交全新申请，计 划设立一家专门提供稳定币服务的全国性信托银行——World Liberty Trust。 该公司表示，若获批牌照，World Liberty Trust将可为加密交易所等机构客户提供服务，同时提供数字资 产托管和稳定币转换服务，使其他稳定币持有者能将其资产转换为USD1。 World Liberty成为最新一家申请银行牌照的加密公司，这一动向引发传统金融机构警觉。传统银行认 为，这是加密企业试图在不承担全国性银行全部监管 ...

Core Viewpoint - The article highlights a virtual currency investment scam involving individuals who created unregistered trading platforms to defraud investors, ultimately leading to significant legal consequences for the perpetrators [1][3][11]. Group 1: Scam Details - The scam was initiated in 2019 by individuals who exploited the public's lack of knowledge about virtual currencies, creating fraudulent trading platforms for DILK and another currency [3][4]. - The platforms were not registered with relevant authorities and could only be accessed through links provided by the perpetrators, making them difficult to verify [3][4]. - The so-called "mining" operations were based on pre-set numbers without any real algorithm, allowing the main perpetrator to manipulate the currency's value at will [3][4]. Group 2: Marketing and Recruitment Tactics - The perpetrators conducted elaborate promotional events, including "wealth seminars" in a rented villa, where they presented themselves as successful investors to lure in potential victims [4][11]. - They promised unrealistic returns, claiming that investments could yield up to 6666 times the initial amount, which played on the investors' desire for high returns [4][11]. - A multi-level marketing approach was used to recruit victims, incentivizing existing investors to bring in new ones with promises of commissions [4][11]. Group 3: Legal Proceedings and Outcomes - The total amount defrauded from investors was approximately 5.466358 million yuan, with the main perpetrators receiving prison sentences of 13 years and 13.5 years respectively [1][6][8]. - The court found the defendants guilty of fraud, confirming that they had fabricated facts and concealed the truth to illegally obtain funds [8][11]. - The case has drawn attention to the risks associated with virtual currencies and the need for regulatory oversight in the financial sector [10][12].