As the income model gradually matures, GHO opens up a second growth curve of vertical integration, and the repurchase mechanism begins to exert real and quantifiable deflationary constraints on the supply side.

The tide of currency premiums is receding, and the L1 era is coming to an end.

Is the "Bitcoin Central Bank" caught in a death spiral? Founder Saylor claims "reserves enough to pay dividends for 73 years."

The market crash and surge happened in just one day, and market sentiment rebounded overnight.

Entrée Capital announced the successful raising of a new $300 million fund; Figure's subsidiary launched the stablecoin YLDS, which received a $25 million strategic investment.

The listing of an ETF does not mean the start of a market rally. There is still a long period of market screening between being allowed to trade and being recognized for allocation.

The purpose of prediction markets is not prediction itself, but to establish an economic incentive mechanism that encourages the truth; correlation itself is the key to trading.

Retail investors are trapped in the ruins.

Say goodbye to "digital gold"—tokenized real-world assets are taking over the future.

A new interpretation of Bitcoin's "conspiracy theory": JPMorgan Chase's aggressive move against MSTR is just a symptom; the real volatility is occurring deep within the US monetary power structure.

Prediction markets become a major source of funding: Kalshi completes a massive $1 billion funding round.

The system is entering a more fragile and error-prone phase. 2026 could be a major turning point for Bitcoin.

Stablecoins generate interest through government bonds, through native on-chain mechanisms, and through active management. They share the same name but carry entirely different risks. Understanding their structure is the first principle for understanding the future of stablecoins.

Cryptocurrency trading protocol Lighter raises $68 million; decentralized privacy computing project Acurast raises $11 million.

While panic dominates sentiment, true long-term forces are steadily increasing, with institutional buying quietly absorbing selling pressure from long-term holders.