Situational Awareness has released its holdings report from the eve of its downfall. Unfortunately, it had prematurely shifted to an all-in bullish stance.

From structural buying to potential selling pressure, the capital model of Bitcoin treasury companies is undergoing repricing

AI inference is driving memory investments to extend beyond GPUs and HBM into high-capacity NAND. Growing demand, long-term customer agreements, and new technologies such as HBF are elevating NAND's role in AI infrastructure while smoothing out traditional memory cycle volatility.

Looking ahead, we remain bullish on Q3-Q4 for rigidly constrained resources in the global supply chain, such as copper and electricity, as well as gold, which continues to price in the trend of monetary credibility erosion. For the digital asset market, we believe it will be difficult to see significant outperformance until excess liquidity is released and the marginal growth rate of AI is fully priced in.

Quickly forward this to your friends—I can't be the only one suffering.

优质深度分析文章及一周热点恶补。

Ethereum and Solana face a centralization dilemma they can hardly avoid.

The market hasn't recovered, but Gemini has turned itself into a credit card bill.

Kyle Samani, who parted ways with Multicoin earlier this year, continues to hold a significant position in Forward through Lemmings Holdings.

Next, beyond storage chip demand itself, two finer indicators deserve the closest attention: renewal pricing for older cards and utilization rates of older cards.

fomo aims to grow the industry's "pie" rather than fight for slices.

With the continued inflow of ETFs, RWA, and institutional capital, crypto assets are gradually integrating into the traditional financial system. Wall Street is not unilaterally "taking over" crypto; instead, it is forming a two-way convergence with the crypto ecosystem. Gate and Robinhood represent two development paths moving toward each other, with the ultimate goal of creating a unified comprehensive financial account. RWA and tokenized U.S. Treasuries are becoming the asset-layer infrastructure connecting TradFi and Crypto.

As Anthropic races toward an IPO valued at over $2 trillion, a name that has never appeared on the company's organizational chart is drawing unprecedented scrutiny from Wall Street—Cami Clark, wife of CEO Dario Amodei.

After eight years and tens of millions of dollars invested, Ethereum has chosen a more conservative but also more certain post-quantum path.

We will see this biggest upgrade in Q4 or by the end of the year.

As of the end of 2025, Tether's reserve assets exceeded its liabilities by $6.814 billion.