Group 1 - New Fire Technology aims to become a "Goldman Sachs of the crypto industry" under the leadership of CEO Weng Xiaoqi, who has extensive experience in the crypto market [1][2] - The company is not looking to replicate Huobi's model but to surpass it, focusing on high-net-worth clients and providing private banking-level services [2][4] - New Fire Technology's strategy includes a shift from a heavy asset model to a lighter service model, targeting clients with over 10 million HKD in assets [4][5] Group 2 - The company plans to establish a $500 million Digital Asset Treasury (DAT) fund to facilitate corporate investments in digital assets, making it easier for traditional investors to enter the crypto space [6][8] - New Fire Technology has signed strategic partnerships with various institutions to create a comprehensive ecosystem that includes asset management, custody, and trading services [5][6] - The company aims to leverage its unique service model and regulatory licenses to fill the gap in high-net-worth client services in Asia, where existing players lack tailored offerings [7][8] Group 3 - New Fire Technology's current price-to-sales ratio is 0.5, significantly lower than Galaxy Digital's 3, indicating potential for growth [8] - The company is focused on achieving rapid growth through resource optimization and plans to prove the viability of its lightweight service model within 12 months [8][9] - Compliance is viewed as the only path forward for crypto finance, with New Fire Technology actively pursuing various regulatory licenses to establish a robust compliance framework [9]

Core Viewpoint - Bullish, the parent company of CoinDesk, opened at $90 on its first day of trading in the U.S., significantly higher than the initial offering price of $37 per share [1] Summary by Relevant Categories - **Company Performance** - The opening price of $90 indicates strong market interest and demand for Bullish shares, reflecting a potential positive outlook for the company [1] - **Market Reaction** - The substantial increase from the initial offering price suggests a favorable reception from investors, which may indicate confidence in Bullish's business model and future growth prospects [1]