Core Insights - In September 2025, the number of publicly disclosed crypto VC investment projects decreased by 25.3% month-over-month and 37.4% year-over-year, totaling 62 projects [1][3] - Total funding in September 2025 reached $5.122 billion, marking a 5.2% increase from August 2025 and a staggering 739.7% increase from September 2024 [3] Investment Breakdown - The distribution of projects by category in September 2025 is as follows: CeFi 21%, DeFi 25.8%, NFT/GameFi 4.8%, L1/L2 12.9%, RWA/DePIN 6.5%, Tool/Wallet 11.3%, AI 12.9% [3] - The top 10 funding rounds included significant amounts such as $1.65 billion for Forward Industries in a post-IPO round and $787 million for Figure in its IPO [3][4] Notable Company Activities - Forward Industries completed a $1.65 billion PIPE financing to initiate a digital asset treasury strategy based on Solana, led by Galaxy Digital, Jump Crypto, and Multicoin Capital [4] - Figure Technology went public on NASDAQ under the ticker FIGR, raising $787 million with an initial share price of $25, resulting in a market cap exceeding $5 billion on its first day [4] - Helius Medical Technologies announced over $500 million in PIPE financing, with a share price of $6.881, aimed at launching a SOL treasury strategy [5] - Flying Tulip, a new project by Sonic co-founder Andre Cronje, raised $200 million in seed funding, with plans for further fundraising through public sales [6] - Fnality secured $136 million in Series C funding to expand its central bank digital currency settlement system, awaiting approval from the Federal Reserve and the European Central Bank [6] - Tron Inc. received a $110 million investment from its largest shareholder to expand its TRX treasury [7] - Zerohash completed a $104 million funding round, focusing on blockchain technology support for banks and fintech companies [7] - Bit Digital plans to raise $100 million through convertible notes primarily to increase its Ethereum holdings [8]

Core Insights - The report discusses the evolution of stablecoins, highlighting their differences from traditional payment systems like Alipay and the regulatory landscape across various regions, particularly focusing on the implications for China [1][15][20]. Development Stages of Stablecoins - The first stage (2014-2017) saw the emergence of stablecoins like USDT, bitUSD, and bitCNY, aimed at addressing the volatility of cryptocurrencies [1][2][4]. - The second stage (2018-2022) marked significant developments, including the launch of USDC and the Libra project, which drew global regulatory attention [5][6]. - The third stage (2023-present) has seen a resurgence in market capitalization and trading volume, with USDT and USDC leading the recovery [6][7][23]. Regulatory Landscape - The U.S. has adopted a "muddled tolerance" approach to regulation, allowing for innovation while establishing a framework for compliance [20][23]. - The EU and Singapore have implemented strict regulations, which have limited the growth of local stablecoins [21][24]. - Hong Kong is positioned to create a "stablecoin corridor," leveraging its unique status to foster a vibrant stablecoin market [27][28]. Comparison with Alipay - Stablecoins and Alipay share similarities in value stability and transaction convenience, but differ fundamentally in their operational frameworks and regulatory environments [15][18]. - Stablecoins operate on blockchain technology, allowing for global transactions, while Alipay relies on traditional financial systems [18][19]. Strategic Insights for China - The report suggests a "three arrows" strategy for China to gain a competitive edge in the stablecoin market, including offshore RMB stablecoins, a Chinese version of USD stablecoins, and a "global currency" backed by multiple currencies [31][32]. - It emphasizes the need for innovative regulatory frameworks to support the development of stablecoins and their integration into the broader financial ecosystem [30][32].

Core Viewpoint - The article highlights the risks associated with speculative investments in companies that chase trends without solid fundamentals, using Hainan Huatie as a case study [1][3][4]. Company Overview - Hainan Huatie's main business involves renting engineering equipment such as aerial work platforms and forklifts, but it has recently shifted focus to speculative ventures like computing power contracts and NFTs [3][4]. Recent Developments - In March, Hainan Huatie signed a significant computing power contract worth 3.69 billion, but after seven months, no purchase orders were received, leading to the contract's cancellation [3][4]. - The company downplayed the cancellation, stating there were "no disagreements" and that it "does not affect operations," raising concerns about transparency [3]. Investment Risks - The article warns that retail investors often fall into traps by following trends and stories rather than focusing on a company's core business and actual performance [4][5]. - It emphasizes the importance of verifying the legitimacy of large orders and monitoring their progress, as many companies may announce contracts without real follow-through [6][7]. Recommendations for Investors - Investors should assess the alignment of a company's main business with its new ventures, ensuring that the core business remains robust [7]. - It is crucial to track the details of any announced orders, including formal contracts and payment statuses, to avoid high-risk situations [7]. - Observing the buying and selling patterns of significant shareholders can provide insights into the company's health and potential risks [7].

Tokenization Adoption - Sei Network is attracting major players in tokenization [1] - Ondo Finance and Securitize, representing over 50% of the tokenized Treasury market, are choosing Sei [1] Institutional Interest - Institutions are converging on Sei as a settlement layer for global-scale markets [1] Performance Claim - Real World Assets (RWAs) move faster on Sei [1]

RT BSCN (@BSCNews)🚨 SEI BECOMING THE GO-TO RWA CHAIN?@Securitize' recent integration with @SeiNetwork could position the lightning-fast L1 at the forefront of one of blockchain's most promising sector... Catch up now ⬇️https://t.co/mu8hnHHRkl ...

AVAX DEX Volume Climbs Sharply in September Boosting Recovery Outlook. Photo by BeInCrypto Avalanche (AVAX) had a booming September, with DEX trading volume hitting a three-year high and a billion-dollar treasury deal. There is also growing interest from ETF issuers in AVAX. At the same time, technical signals indicate that AVAX is at a critical level for a potential breakout if it can maintain key support. This picture opens up expectations for a new growth cycle of Avalanche in the medium term. Avalanch ...

💰 RWA & Incentives Flywheel🔹 Franklin Templeton expands Benji Platform to BNB Chain, boosting regulated RWA access🔹 Zero-Fee Stablecoin Carnival extended to Oct 31 (USDT, USD1 transfers/bridges/CEX withdrawals)🔹 Binance HODLer Airdrops adds OpenEden ($EDEN) for BNB stakers/subscribers6/7 ...

🚀 Week in BNB Chain: Gas Cut, RWA Push, Airdrops RollBNB Chain +0.7% WoW, ~3% from ATH! Base gas halves; blocks ~450ms! Zero-fee stablecoin transfers extended! Franklin Templeton brings Benji RWAs to BNB Chain! 🧵1/7 https://t.co/PCSxJhoMWM ...

🚨 SEI BECOMING THE GO-TO RWA CHAIN?@Securitize' recent integration with @SeiNetwork could position the lightning-fast L1 at the forefront of one of blockchain's most promising sector... Catch up now ⬇️https://t.co/mu8hnHHRkl ...

Core Insights - The crypto market is experiencing a positive trend, with Bitcoin nearing $117,000 and altcoins showing renewed activity, despite the recent U.S. Government shutdown [1] - The BNB Chain sector has demonstrated resilience, with a market capitalization increase of 0.7% week-on-week and 11.8% month-on-month, approaching its all-time high [2] BNB Chain Market Performance - The BNB Chain ecosystem remains stable amidst broader market volatility, being one of the few altcoin sectors to show positive growth [2] - BNB's strength has supported the market, even as most BEP-20 tokens faced declines, with some smaller tokens achieving gains over 25% [3][4] On-Chain Metrics - BNB Chain has surpassed Solana in daily active addresses and has seen a significant increase in on-chain revenue, primarily driven by the success of Aster (ASTER) [5] - However, there has been a decline in transaction volumes and decentralized exchange (DEX) activity [6] Recent Developments - BNB Chain has implemented a new minimum gas fee of 0.05 gwei and reduced block intervals to approximately 450ms, enhancing transaction efficiency and user experience [7] - Binance has continued its airdrop initiatives, recently adding OpenEden ($EDEN) for BNB stakers and subscribers [8]