Opera’s aggressive pivot into the crypto space paid off in the markets on Monday, with shares climbing nearly 18% following the integration of Tether’s USDT into its MiniPay wallet. The Oslo-based company saw its stock jump from an opening price of $12.42 to $14.87 earlier Monday after announcing that users can now hold and transfer the world's largest stablecoin, alongside the gold-pegged token Tether Gold. Opera's shares finished the day trading at $14.10, still showing a more than 13% rise on the day. ...

2月2日，香港金融管理局（以下简称"香港金管局"）总裁余伟文在立法会财经事务委员会会议后向媒体 表示，该局正在对已收到的稳定币发行人牌照申请进行评估，并已向部分机构要求补充材料，例如稳定 币的具体应用场景、风险管理框架及储备资产类别等详细信息，目标是争取在今年3月发出香港首批稳 定币发行人牌照。 京东旗下的京东币链科技（香港）是香港金管局于2024年7月公布的首批稳定币沙盒测试三大参与者之 一，与渣打银行、圆币科技一同成为"吃螃蟹者"。紧接着，小米旗下天星银行宣布与京东币链科技达成 稳定币合作，由此引发市场对互联网大厂布局Web3（第三代互联网）的无限遐想。 作为香港三大发钞行之一，渣打银行凭借其深厚的金融基础设施与先发的沙盒测试经验，也被市场寄予 厚望。 在《稳定币条例》于2025年8月1日生效后，首批牌照申请窗口于同年9月30日关闭。根据香港金管局此 前披露的信息，期间共收到36份申请。申请机构类型多元，涵盖银行、科技企业、证券/资产管理/投资 公司、电商、支付机构、初创/Web3企业等。 （文章来源：每日经济新闻） 不过，他同时强调："首批发牌的数量一定不多，以稳妥为目标。" 余伟文特别强调了跨境活动的 ...

每经记者｜李旭馗 每经编辑｜陈柯名 董兴生 编辑|陈柯名 董兴生 杜恒峰 2025年5月，蚂蚁集团旗下的蚂蚁国际成为汇丰银行以代币化存款为本的区块链结算服务的首家客户，旗下公司在汇丰账户的存款经代币化后，成功完成 即时的内部资金调拨。另一关键实体蚂蚁数科作为蚂蚁集团科技商业化板块，已于2025年4月将海外总部落户香港，蚂蚁数科在区块链领域拥有众多全球 领先的技术和专利。 京东旗下的京东币链科技（香港）是香港金管局于2024年7月公布的首批稳定币沙盒测试三大参与者之一，与渣打银行、圆币科技一同成为"吃螃蟹者"。 紧接着，小米旗下天星银行宣布与京东币链科技达成稳定币合作，由此引发市场对互联网大厂布局Web3（第三代互联网）的无限遐想。 作为香港三大发钞行之一，渣打银行凭借其深厚的金融基础设施与先发的沙盒测试经验，也被市场寄予厚望。 在《稳定币条例》于2025年8月1日生效后，首批牌照申请窗口于同年9月30日关闭。根据香港金管局此前披露的信息，期间共收到36份申请。申请机构类 型多元，涵盖银行、科技企业、证券/资产管理/投资公司、电商、支付机构、初创/Web3企业等。 记者|李旭馗 2月2日，香港金融管理局（以下简 ...

CoinGape Announces Winners of Crypto Impact — Source: CoinGape CoinGape, on January 29, announced the winners of the long-awaited Crypto Impact Awards 2025. The CoinGape Awards recognised projects, companies, founders and communities that delivered measurable impact across Web3 during one of the industry’s most consequential years. The ceremony, having Binance CEO Rachel Cohen, YAP Global CEO Samantha Yap, Bitget Wallet CEO Elikeh among other distinguished jury panelists, saw the industry’s key faces bei ...

Core Viewpoint - Polkadot has significantly declined in value and is no longer among the top 30 cryptocurrencies, trading at a low price of $1.84, raising questions about its investment potential [1]. Price Performance - Polkadot reached an all-time high of $55 in November 2021 but has since fallen dramatically, currently trading at a 97% discount from that peak [3][4]. - The price has largely flatlined over the past three years, indicating a lack of recovery [3]. Investment Thesis - The original investment thesis for Polkadot, which aimed to create a decentralized internet of blockchains, is no longer compelling as the blockchain landscape has evolved [5][6]. - The emergence of dominant Layer 1 networks like Ethereum and Solana has overshadowed Polkadot's Layer 0 vision [8]. Future Outlook - A short-term recovery for Polkadot is deemed unlikely, and investment in Layer 1 networks is recommended instead, with Ethereum being highlighted as a more promising option [5][9].

Crypto 10/10 Crash — Source: CoinGape The October 10, 2025 crypto market crash, which triggered an estimated $19–28 billion in forced deleveraging, is yet again reigniting debate among Web3’s most influential executives. On Oct 1o, crypto experienced a shock that liquidated roughly $19 billion of leveraged positions within hours. During the peak of the event, Binance’s USDe on-venue price briefly dislocated. It reported lows were as near as $0.65 on Binance’s order book, causing  2.2 billion market-cap c ...

Investment Rating - The report does not explicitly state an investment rating for the industry, but it implies a cautious outlook based on recent market trends and macroeconomic factors [29]. Core Insights - The cryptocurrency market experienced a decline, with a total market capitalization of $2.84 trillion, down 6.0% from the previous week. Bitcoin closed at $84,129, also down 6.0%, while Ethereum closed at $2,702, down 8.5% [10][11]. - The report highlights significant macroeconomic events, including the Federal Reserve's decision to maintain interest rates and the potential impact of political developments on market sentiment [10][12]. - There is a notable decline in Bitcoin mining profitability, with the ratio of Bitcoin price to mining profitability reaching a 14-month low, influenced by extreme weather conditions affecting mining operations [20][21]. Summary by Sections Market Review - The cryptocurrency market saw a total market cap of $2.84 trillion, with Bitcoin and Ethereum prices declining by 6.0% and 8.5%, respectively. The Federal Reserve's interest rate was held steady, impacting market expectations [10][12]. - The overall market sentiment has turned cold, with the Fear and Greed Index indicating a score of 26, reflecting a state of fear among investors [13][14]. Global Policy and Industry News - Tether launched USAT, compliant with U.S. regulations, and plans to increase its gold holdings to 10-15% of its portfolio by 2025 [20][21]. - The report notes that 72% of licensed cryptocurrency exchanges in Indonesia are currently operating at a loss, facing challenges from international competition [23]. - The U.S. Senate Agriculture Committee passed the Clarity Act, which still requires approval from the Senate Banking Committee [23]. Company News - Strategy Company increased its Bitcoin holdings by nearly 3,000 BTC, bringing its total to over 712,000 BTC, with an average purchase price of $76,037 per BTC [24]. - SoFi Technologies reported a revenue exceeding $1 billion for Q4 2025, with a 35% year-over-year increase in membership [25]. - MARA received approval to acquire a 64% stake in Exaion, a data center subsidiary of EDF [24]. Investment Recommendations - The report suggests monitoring companies transitioning to AI data centers and those with significant power reserves, as they may reveal further developments during the earnings season [27].

投资逻辑 本周迎来众多宏观事件，包括美联储 1 月议息会议维持利率不变，中止了自 2025 年 9 月以来的连续 3 次降息；特朗 普提名沃什为美联储主席候选人，沃什此前表示倾向于降低利率和缩减资产负债表；此外，美国部分政府部门将停摆， 关注 2 月 2 日众议院投票结果。受降息中止、美联储主席候选人鹰派表态影响，本周加密货币总市值环比上周下滑 6.0%。比特币收盘价为 84,129 美元/枚，环比上周下滑 6.0%；以太坊收盘价为 2,702 美元/枚，环比上周下滑 8.5%。 芝商所 FedWatch 预计 2026 年 6 月、10 月美联储分别降息 25bp。虽然周内成交额环比上周增长，期权市场看好 Q2 行情，但链上持仓均价持续下滑、周内情绪转冷。 全球政策与产业新闻方面：美国参议院农业委员会通过 Clarity Act，仍需参议院银行委员会批准。Tether 正式推出符 合美国规定的 USAT；至 2025 年末共持有 52 万盎司黄金，占投资组合比重的 7%，计划未来提升占比至 10~15%。 比特币算力受美国极端天气影响而下滑，美国最大矿池 Foundry USA 算力下降约 60%，目前算力 ...

你是否有过这样的经历：社交账号突然被封禁，多年积累的内容瞬间消失；平台抽成高额佣金，创作者只能被动接受；个人数据被悄悄收集，却得不到任何 回报？这正是我们正在使用的 Web2 互联网的痛点 —— 平台掌握绝对控制权，用户只是 "免费使用者"。 而 Web3 的核心，就是把 "控制权" 还给用户。简单说，Web3 是基于区块链技术的新一代互联网，它像一个 "无主之城"：没有中心化的平台掌控一切，数 据、资产的所有权完全属于用户自己。如果说 Web2 是 "公司的互联网"，Web3 就是 "所有人的互联网"。 3. 价值互联：数据和劳动能直接变现 Web2 时代，用户的浏览记录、创作内容都是平台的 "免费燃料"，而 Web3 让用户的每一份贡献都能获得回报。比如你在内容平台发布文章，读者的打赏直 接到你钱包；你分享自己的健身数据供 AI 训练，能获得相应的数字代币。 Web3 离我们有多远？这些场景已落地 Web3 不是 "完美神话"，但未来已来 当然，Web3 还处于发展阶段：操作门槛偏高、部分场景实用性不足，还存在一定的安全风险。但就像早期互联网一样，这些问题都将在发展中逐步解决。 Web3 的本质，是让互联 ...

Core Insights - The report highlights the transformation of traditional financial companies into AI data centers and GPU cloud service providers, particularly in the context of cryptocurrency mining companies like Hut 8 and IREN Limited transitioning to AI services due to declining Bitcoin profits and increasing AI computing demands [1] - CANG.US has successfully transitioned to a Web3 mining company while simultaneously initiating AI development, recognized for its strong execution capabilities and high operational efficiency [1][2] - The company has adopted a financing model based on "electricity loans," using Bitcoin as collateral to secure funding for electricity payments, with a competitive interest rate of approximately 7.5% [1] Company Transformation - CANG.US, originally an automotive finance service platform, transitioned to Bitcoin mining by divesting all its China-based operations by May 2025, retaining only a minor used car export service [2] - The company invested $256 million in acquiring second-hand Antminer S19 XP series mining machines, achieving a total hash rate of 50 EH, ranking it among the top Bitcoin mining companies globally [2][3] - The mining equipment is distributed globally, with approximately 60% located in the U.S. and the remainder in countries like Paraguay and Oman, demonstrating a strategic focus on cost-effective and readily available mining technology [2] Bitcoin Mining Operations - CANG.US's mining operations rely heavily on electricity costs, which constitute the largest expense, with a cash cost of $81,072 per Bitcoin as of Q3 [3] - The company has implemented a pricing mechanism in its electricity contracts to protect against low theoretical returns, ensuring operational sustainability [3] - The mining business is characterized by a simple model where profitability is primarily influenced by Bitcoin prices and electricity costs, with the company focusing on cost control and waiting for price increases to secure profits [3] AI Transition Strategy - The company is advancing its transition from Bitcoin mining to AI, having initiated several pilot projects in AI computing and green energy in Q4 2025, with a focus on developing AI business in 2026 [9] - The strategic plan includes a three-step approach, maintaining Bitcoin mining as a foundational business while simultaneously investing in AI [9] Financial and Financing Situation - Significant changes in the balance sheet include a reduction in other receivables due to asset disposals and an increase in long-term receivables reflecting the fair value of Bitcoin collateral [10] - The financing structure is centered around electricity loans, with a long-term debt of $400 million, and the company employs a dual leverage strategy based on computing power and operations [12] Shareholder Structure and Governance - The shareholder structure is relatively dispersed, with significant holdings by early investors and new strategic partners, while the largest voting rights are held by Enduring Wealth Capital Limited (EWCL) [13][14] - The company has a dual-class share structure to ensure control remains with experienced industry players, facilitating the transition to new business areas [14]