（来源：吴说） 吴说获悉，a16z crypto 发布对 2026 年加密行业的 17 项关注方向，包括：更高效、更智能的稳定币出入 金通道、以更加密原生方式推进 RWA 与稳定币代币化、稳定币推动银行账本升级与新型支付场景、互 联网向"银行化"演进、普惠型财富管理、"KYC"向"了解你的代理（KYA）"转变、AI 承担实质性研究 任务、隐私成为核心竞争壁垒、去中心化且抗量子的消息系统、质押媒体兴起，以及当法律架构与技术 架构匹配后释放区块链全部潜力等。 ...

（来源：吴说） 据彭博亿万富翁指数，2025 年多位加密行业高管资产大幅缩水。Strategy 执行董事长 Michael Saylor 过 去 12 个月净资产减少约 26 亿美元，降至约 38 亿美元。Gemini 联合创始人 Winklevoss 兄弟同期净资产 下跌约 59%；前币安 CEO 赵长鹏自 2025 年初以来净资产减少约 5%，降至约 509 亿美元。相比之下， Circle CEO Jeremy Allaire 净资产自 6 月 4 日以来增长约 149%。（Cointelegraph） ...

12月30日，随着全球数字资产市场的演进，RadexMarkets瑞德克斯观察到，加密行业正站在机构级普及 的十字路口。根据行业前沿预测，2026年将成为科技巨头与传统金融力量深度渗透加密领域的关键一 年。RadexMarkets瑞德克斯认为，尽管财富100强企业纷纷布局区块链技术，但市场重心仍将集中在具 有中立属性的基础设施上，而非由单一企业主导的封闭生态。 责任编辑：陈平 12月30日，随着全球数字资产市场的演进，RadexMarkets瑞德克斯观察到，加密行业正站在机构级普及 的十字路口。根据行业前沿预测，2026年将成为科技巨头与传统金融力量深度渗透加密领域的关键一 年。RadexMarkets瑞德克斯认为，尽管财富100强企业纷纷布局区块链技术，但市场重心仍将集中在具 有中立属性的基础设施上，而非由单一企业主导的封闭生态。 在具体的行业应用层面，RadexMarkets瑞德克斯表示，银行和金融科技领域将成为财富100强企业接入 区块链的主阵地。许多机构倾向于利用Avalanche或OP stack等现有工具包构建许可链，从而在保障数据 隐私的同时，通过桥接技术与公链保持交互。虽然摩根大通、高盛等巨头 ...

（来源：吴说） Etherealize 联合创始人 DannyRyan 表示，特朗普政府虽然推动了加密立法进展，但其家族深度参与加密 业务也引发政治冲突，若未来政权更迭，行业可能面临 "反噬风险"。他指出，加密行业应在特朗普任 期窗口期内尽快推动机构、资本市场与金融体系的深度接入，让加密成为 "关键金融基础设施"，这样 即便未来政策转向，讨论也将从 "要不要存在" 转向 "如何规范使用"。（Decrypt） ...

来源：市场资讯 《纽约时报》调查称，特朗普重返白宫后，美国证监会（SEC）明显收缩对加密行业的执法力度，在其 回归时仍在推进的加密案件中，超过 60% 被暂停、减罚或直接撤诉，且未再新增加密案件。报道指 出，SEC 已不再推进任何一宗针对与特朗普存在已知联系的加密公司的案件，包括撤销或冻结对 Binance、Coinbase、Gemini 等公司的诉讼，并尝试下调 Ripple 的罚款（未获法院支持）。SEC 否认政 治偏袒，称调整基于法律与政策考量，但部分前 SEC 官员警告此举或削弱投资者保护。 （来源：吴说） ...

Core Insights - The listing of HashKey Holdings in Hong Kong marks a significant milestone for the blockchain industry, indicating a shift from "wild growth" to "regulated maturity" [1] - The current industry winter is not a sign of decline but a "survival of the fittest" phase, where compliance becomes essential for survival and development [2] - HashKey's IPO signals a transformation in the blockchain industry's underlying logic, emphasizing long-term value over short-term speculation [2] Industry Overview - The ongoing industry winter is characterized by high regulatory pressure and a significant reduction in market liquidity, with over 60% of small exchanges shutting down due to compliance costs [2] - The total market value of global crypto assets has shrunk by over 40% from its peak, reflecting a broader trend of "bad projects being eliminated" [2] HashKey's Listing Signals - HashKey's IPO serves as a "trend guide" for the Web3 industry, highlighting four key signals that could reshape the industry landscape [3] - Hong Kong's unique position as a "safe haven" for Web3 is reinforced by HashKey's listing, which connects traditional finance with blockchain technology [4] - HashKey has established itself as a leader in Hong Kong's blockchain ecosystem, with a trading volume exceeding 1.3 trillion HKD and staked assets of 29 billion HKD [4] Compliance and Traditional Finance - HashKey's listing provides a strong compliance endorsement, addressing traditional finance's hesitance to enter the crypto space due to perceived risks [5] - The revenue from institutional clients at HashKey has surged from 420 million HKD in 2022 to 27.37 billion HKD in 2024, indicating a significant influx of traditional funds into the crypto market [6] Platform Token Dynamics - HashKey's platform token $HSK is now recorded on the company's balance sheet, transforming it from a speculative asset to a company equity certificate [7] - This new model aligns the value of $HSK with the company's financial performance, encouraging HashKey to maintain its value through business growth [7] Industry Turning Point - The current phase for digital assets is likened to the pivotal moment for the internet in 1995, with user growth and regulatory clarity paving the way for mainstream adoption [8] - Monthly active digital asset addresses have tripled to 220 million by September 2024, indicating rapid user base expansion [8] BUYCOIN's Strategic Positioning - BUYCOIN has proactively aligned itself with the compliance trend, establishing a robust operational framework that meets global regulatory standards [10] - The platform emphasizes community sovereignty, allowing users to benefit from their contributions through a transparent profit-sharing mechanism [11] Ecosystem Development - BUYCOIN's collaboration with DeepLink has led to the integration of over 100,000 devices, enhancing user engagement and expanding its ecosystem [13] - The platform's dual focus on hardware and finance aims to broaden its value proposition, making its token BCT a practical currency [13] Resilience Across Market Cycles - BUYCOIN's structure is designed to provide stability during market downturns while capitalizing on growth opportunities during upturns, ensuring community engagement remains strong [14] Conclusion - The current market conditions present an opportunity for strategic positioning within the compliant and value-driven segments of the crypto industry, as exemplified by HashKey and BUYCOIN [15][16]

（来源：深潮 TechFlow） 撰文：Ada｜深潮 TechFlow 在欧洲 Web3 行业已经创业五年的阿锋，最近回到了北京。这些年，他在德国与法国两地奔波，组织了不少行业交流会，也认识了一批同样在欧洲创业的 Web3 从业者。 谈起欧洲的 Web3 市场，阿锋的判断很直接：这里是理想主义者的热土。纯粹的理想并没有让欧洲在全球加密版图中占据绝对优势，但也没有动摇他们对 Web3 理想主义的信仰。 从瑞士楚格的"加密谷"，到巴黎的 Station F 孵化器；从柏林区块链周，到阿姆斯特丹的 DeFi 创新社区，这片古老的大陆一直在用自己的方式，书写着一 套与美国、亚洲截然不同的加密叙事。 当我们把目光从美国、日韩、中东的加密狂热中抽离，转向这片相对沉静的世界时，一个问题浮出水面：欧洲在加密世界版图中，到底是怎样一种特殊的 存在？ 去中心化的大陆 如果要用一句话去形容欧洲的加密行业，阿锋毫不犹豫地给出了四个字："去中心化。" 这个去中心化，一方面是指不迷信单一的中心人物。 在美国，很多人是被某些明星创业者、意见领袖带入场，而在欧洲，更多人是出于自己对隐私、开放协议、自由市场的信念选择进入 Web3。他们的动机 ...

来源：市场资讯 （来源：吴说） SEC 主席 Paul S. Atkins 在接受 CNBC 访谈时表示，SEC 预计将在"大约一个月内"发布加密行业的"创新 豁免（innovation exemption）"。他提到，原本的进度因政府关门而被延误，但目前 SEC 已恢复正常工 作，将继续推动支持加密创新的监管框架，以扭转过去多年的阻力立场。Atkins 还表示，SEC 计划在明 年推出新的政策，以改善 IPO 的市场环境。 ...

Core Insights - The founder of TRON, Sun Yuchen, presented at TOKEN2049, discussing TRON's evolution and its future as a global infrastructure [1] - TRON currently has 335 million user accounts, projected to reach 350 million by the end of the year [1] Mainstream Recognition and Ecosystem Expansion - TRON's TRX became one of the first major cryptocurrencies to be listed as an ETN in the EU in 2021, with recent ETF applications in the US [3] - TRON Inc. recorded $1.8 billion in trading volume on its first day of launching the TRX treasury reserve strategy, indicating growing institutional interest [3] - The US Department of Commerce selected TRON's blockchain for releasing official economic data, marking a significant step for public blockchain in data sharing [3] Network Overview - TRON has over 335 million user accounts, a total locked value (TVL) exceeding $27 billion, and processes approximately 9 million transactions daily [4] - The network achieved nearly $1 billion in quarterly revenue, setting a historical record [4] - A recent governance proposal reduced energy costs by 60%, expected to attract more users and transactions in the long term [4] Ecosystem Development - SunPerp DEX, TRON's first decentralized perpetual contract trading platform, enhances DeFi derivatives trading with deep liquidity and zero gas fees [6] - The total supply of USDD on TRON exceeds $474 million, with a total locked value over $520 million; TRON is a leading network for USDT with a circulation exceeding $75 billion [6] Compliance, Security, and Future Outlook - TRON established the T3 Financial Crime Unit with Tether and TRM Labs to combat illegal activities on the blockchain, freezing over $250 million in illegal assets [7] - Strategic partnerships include collaborations with Kraken and Backed for tokenized stocks, and integration with MetaMask for enhanced user access [7] - TRON's Super Representative system includes major institutions like Google Cloud and Binance, reflecting strong institutional trust [8] - TRON is committed to supporting education and talent development in blockchain, collaborating with top universities to foster innovation [8]

Core Insights - Cathie Wood and a UAE group invested $300 million in Brera Holdings, which will transform into a treasury company focused on accumulating Solana (SOL) tokens [1][3] - Following the announcement, Brera's stock price surged by 592% to $52.95, closing with a 225% increase [1] Investment and Corporate Strategy - Brera Holdings will rebrand as Solmate and plans to dual-list in the UAE to enhance its SOL accumulation capabilities [1] - The company has formed a strong executive team, including Marco Santori as CEO, who emphasizes the capital access advantage in the UAE [4] Notable Appointments - Economist Arthur Laffer, known for the "Laffer Curve," will join Solmate's board, further enhancing its profile [5] - Cathie Wood's investment decision was influenced by Laffer's involvement, whom she regards as a mentor [5] Market Context - The treasury concept for digital assets is expanding, but the market for such companies is becoming increasingly crowded, particularly in the Solana space [6] - Pantera Capital recently assisted a medical device company in raising $1.25 billion for SOL accumulation, indicating strong interest in this model [6] Strategic Partnerships - Solmate has established a partnership with the Solana Foundation, which will sell tokens at a discount and gain board seats in exchange for collaboration on projects in the UAE [7] Business Model Analysis - Solmate's model mirrors that of MicroStrategy, which became a "Bitcoin treasury company" by accumulating cryptocurrency through stock or bond issuance [8] - Over 100 companies have adopted similar strategies, aiming to drive stock prices beyond the value of their held crypto assets [8] Market Sentiment - The previously favored model of treasury companies is facing scrutiny, with some critics labeling it as "marketing and financial engineering" [9] - Many crypto treasury companies have seen significant stock price declines, with some market values dropping below their held crypto asset values [9]