（来源：吴说） 1.Vitalik Buterin：去中心化稳定币仍面临三大核心结构性难题 以太坊联合创始人 Vitalik Buterin 表示，真正去中心化且具长期韧性的稳定币仍面临三大难题：长期不 应只锚定美元，应探索更独立、能反映真实购买力的计价基准；预言机必须高度去中心化且难以被资金 俘获，否则只能通过高价值抽取维持安全，损害用户利益；需解决 PoS 体系下质押收益与稳定币抵押 品之间的结构性冲突。Vitalik 还指出，市场低估了审查攻击与活性惩罚风险，且稳定币系统在极端行情 下必须具备动态再平衡能力，不能依赖固定数量的 ETH 抵押。 2.USDT 稳定币发行方在俄罗斯注册商标 USDT 发行方 Tether 已在俄罗斯注册其资产代币化平台 Hadron 的商标。资料显示，Tether 于 2025 年 10 月提交申请，2026 年 1 月获批，商标专用权有效期至 2035 年 10 月。该商标可用于区块链金融服务、 加密货币交易与兑换、加密支付处理及相关咨询服务。 3.Robinhood 解释自建以太坊 L2 原因：看重以太坊安全性与流动性 Robinhood 加密业务负责人 Johann ...

Group 1 - The U.S. ADP employment number for September decreased by 32,000, marking the largest decline since March 2023, with expectations set at a decrease of 50,000 and a previous value of 54,000, leading traders to increase bets on two further rate cuts by the Federal Reserve this year [1] - The 21Shares Polkadot ETF (TDOT) and 21Shares Sui ETF (TSUI) have been listed on the DTCC website, indicating a standard process for preparing to launch new ETFs, although this does not imply that the ETFs have received regulatory approval or completed other necessary procedures [1] - The SEC has issued a no-action letter confirming that state-chartered trust companies can serve as qualified custodians for crypto assets under the Investment Advisers Act of 1940, providing much-needed regulatory clarity for digital asset custody [1] Group 2 - The European Systemic Risk Board (ESRB) has proposed a ban on "multi-jurisdictional" stablecoins, which are issued simultaneously in the EU and other jurisdictions, led by the European Central Bank (ECB). While the proposal is not legally binding, it will pressure national regulators to implement related restrictions or explain how to ensure financial stability without adopting the ban [2] Group 3 - VisionSys AI has announced a partnership with Marinade Finance to launch a digital asset treasury plan based on Solana, with a total scale of up to $2 billion. The initial goal is to complete the acquisition and staking of $500 million in SOL within the next six months [3]