RT 橘子 ∑:🔆🍡(✱,✱) (@0xaurSkyo)最近花了点时间，把表哥的新书《币安人生》认真读完了。一开始我只是想看看，一个站在行业风口中心这么多年的人，会怎么回头讲自己的来路。可真正读进去之后，我发现这本书最打动我的地方，并不是“赵长鹏有多成功”，也不是“币安后来做得有多大”，而是它写得足够真。没有刻意把苦难包装成传奇，也没有把那些低谷和波折轻轻带过。很多经历、很多选择、很多代价，都是摊开来写的。也正因为这样，读完之后留在我心里的，不是那种看完成功人物传记后的亢奋，反而是一种更复杂、也更沉一点的感受。它让我重新去想，一个人到底是怎么在不断起伏的人生里，慢慢长出自己的判断、韧性和秩序感的。更像是在看一个人，怎么在长期的不确定里，不让自己先乱掉。这其实很戳我。因为在 Web3 待久了，大家每天聊的都是行情、叙事、预期、机会、反转，表面上很热闹，底下其实全是波动。价格在波动，情绪在波动，关系在波动，连很多人的判断也在跟着波动。你会慢慢发现，这个行业最稀缺的东西，可能不是机会，也不是聪明，而是稳定。所以这本书最让我有感觉的地方，不是它写了多少高光，而是它没有把那些难的时候藏起来。很多人看 CZ，只会看到后来 ...

归零难道不是因为项目垃圾？团队跑路吗？根早晚解锁有啥关系？项目真正在做事项目有真正收入团队不跑路项目会归零？JackYi (@Jackyi_ld):加密行业这几年最大的问题创新衰退了，这个问题根源来自两方面，一是美国上一届政府加密政策收紧，随着这次加密结构法案通过应该能解决。二是币安要求项目对加密VC的1➕3年锁仓机制，相信币安初心是好意，培养长期投资思维。现在这个机制后果是让项目方，做市商，交易所Liquidity先跑，而VC在漫长的解 ...

Core Viewpoint - The Fellowship PAC, a political action committee in the cryptocurrency industry, claimed it would raise $100 million for the 2026 U.S. midterm elections, but recent disclosures show it has no funds raised or spent [1] Group 1 - The Fellowship PAC has reported a current balance of $0, indicating it has not yet raised or expended any funds [1] - Earlier reports suggested a potential connection between Tether and the Fellowship PAC, but Tether's spokesperson clarified that there is no association or oversight relationship between Tether International and the PAC [1] - According to U.S. election law, PACs are prohibited from accepting funds from foreign entities [1]

Core Viewpoint - Sam Bankman-Fried (SBF), the founder of FTX, is seeking a presidential pardon from Donald Trump while serving a 25-year prison sentence, but the likelihood of receiving such a pardon appears very low due to lack of support from the crypto community [1] Group 1 - SBF has been attempting to appeal to right-wing audiences, including giving an unauthorized interview to conservative commentator Tucker Carlson, which resulted in him being placed in solitary confinement [1] - Trump's White House spokesperson reiterated that Trump has no plans to pardon SBF, Robert Menendez, or Nicolás Maduro, as stated in January [1] - Despite Trump's previously friendly stance towards the crypto industry and having pardoned Silk Road founder Ross Ulbricht, SBF lacks widespread support from the crypto community, making a pardon unlikely [1]

Core Viewpoint - Kazakhstan's President Tokayev has signed a new version of the "Law on Banks and Banking Activities" which includes regulations for digital financial assets (DFA) to promote the development of fintech and the cryptocurrency industry [1] Regulatory Framework - The new law categorizes digital assets into three types of secured DFA: stablecoins backed by fiat currency, asset tokenization supported by financial instruments, assets, property rights, or commodities, and financial instruments issued electronically on digital platforms [1] - The legislation formally regulates unsecured digital assets, such as Bitcoin, and allows for the establishment of cryptocurrency exchanges licensed by the central bank [1] Central Bank's Role - The central bank will create a list of tradable crypto assets and enhance anti-money laundering measures along with investor protection [1]

Core Viewpoint - Grayscale Investments Inc. has submitted an IPO application to the SEC, marking a renewed attempt to enter the capital markets amid a more favorable digital asset policy environment [1] Group 1: Financial Performance - For the first nine months ending September 30, Grayscale reported revenue of $318.7 million, a decline of approximately 20% from $397.9 million in the same period last year [1] - The net profit for the same period was $203.3 million, slightly lower than the previous year's $223.7 million [1] - Despite the slight decrease in profitability, the company maintains strong cash flow and profit capabilities [1] Group 2: Market Context and Competition - The overall size of Bitcoin ETFs in the U.S. has reached $169 billion, attracting over $25 billion in net inflows this year [2] - Grayscale Bitcoin Trust has experienced significant outflows, with over $21 billion in net outflows last year and an additional $3 billion in 2025 to date, attributed to its higher fee rate of 1.5% [2] - In response to competition, Grayscale launched a low-fee Bitcoin Mini Trust ETF with a fee rate of only 0.15%, currently managing approximately $5 billion in assets [3] Group 3: Strategic Moves and Future Plans - Grayscale completed a $250 million convertible preferred stock private placement in October, intended for self-capital investments, including the purchase of digital assets or related company products [3] - The IPO will be underwritten by Morgan Stanley, Bank of America, Jefferies, and Cantor Fitzgerald, with plans to list on the NYSE under the ticker symbol GRAY [3] - Following the IPO, Digital Currency Group will retain majority voting power through Class B shares, which carry ten votes per share [3]

Group 1 - The core viewpoint of the articles highlights Trump's extensive involvement in the cryptocurrency industry, including investments in various projects and a recent $300 million investment in a Bitcoin-related options strategy by Trump Media Technology Group (DJT.US) [1] - Trump Media Technology Group has accumulated approximately $2 billion in Bitcoin and related assets, indicating a significant commitment to the cryptocurrency market [1] - The use of options trading represents a relatively novel approach for companies looking to capitalize on the volatility of cryptocurrency prices, potentially offering high returns but also introducing new risks [1][3] Group 2 - Nic Carter, a partner at Castle Island Ventures, acknowledges Trump's role as an advocate for the cryptocurrency industry while also raising concerns about potential conflicts of interest due to his financial ties to the sector [2] - Trump's wealth has significantly increased due to cryptocurrency investments, with an estimated gain of at least $620 million over the past year [3] - The specific assets involved in the options strategy remain unclear, but they could include various Bitcoin-related securities, which may serve as leveraged bets on Bitcoin price increases [3] Group 3 - The timing of Trump Media Technology Group's options strategy is particularly noteworthy, as options trading introduces both timing and pricing factors that are not present when simply holding the underlying asset [4] - The potential for high returns from options trading is evident, as many cryptocurrency mining companies have successfully entered the derivatives market to enhance their profitability [3]

Core Viewpoint - Investor hesitation towards the cryptocurrency industry is rapidly dissipating, indicating a potential resurgence in market confidence and investment activity [1] Group 1 - Galaxy Digital executives highlight a shift in investor sentiment, suggesting that previous doubts are being replaced by renewed interest in the crypto sector [1] - The company notes that this change in attitude could lead to increased capital inflow into the cryptocurrency market [1] - There is an expectation that as investor confidence grows, more institutional players may enter the market, further driving demand [1]

Group 1 - Circle's stock price surged from $31 to approximately $134 since its listing on June 5, representing an increase of over 400% in just over a week, with a single-day rise of 25.36% [1] - Interest in digital asset-related companies is rapidly increasing on Wall Street, with recent IPOs from eToro and Galaxy Digital, and Gemini filing for a confidential listing with the SEC [1] - Several unicorn companies in the crypto ecosystem, including OpenSea, KuCoin, Kraken, Bullish, Consensys, and Ripple, are actively planning IPOs [1] Group 2 - David Bailey, founder of Nakamoto, believes it is a golden time for crypto companies to go public due to strong performance of crypto stocks and a more favorable regulatory environment under the Trump administration [2] - The appointment of a dedicated "crypto affairs commissioner" and the establishment of a strategic Bitcoin reserve are seen as positive developments for the industry, encouraging IPO enthusiasm [2] - Morgan Stanley's market strategists noted that the improving regulatory climate supports the development of the crypto industry, benefiting IPOs and venture capital, with the number of crypto IPOs this year nearing the pace of the 2021 market frenzy [2] Group 3 - Bailey acknowledges the natural cycles of bull and bear markets in Bitcoin, stating that strong companies will survive and thrive amid volatility [3] - He suggests that sometimes significant market corrections are necessary for the industry to grow stronger [3]