BridgeNomad

The article explores how humans rely on narratives and the opinions of others to assess risk in the face of uncertainty. Using skiing and elevators as examples, it illustrates how individuals make decisions in the absence of precise data. In the realm of Crypto Assets, investors often make investment judgments based on project narratives rather than technical details, with potential narratives being more valuable than high-probability events. The author plans to explore multiple projects, following market trends and potential investment opportunities.

Circle's stock price soared 168% on its first day of trading, providing early investors with substantial returns.
Circle officially listed on the New York Stock Exchange, becoming another industry giant to debut in the traditional capital market after several other cryptocurrency companies. This leading enterprise in the stablecoin sector performed remarkably well on its first day of trading, with a significant increase in stock price, sparking market discussions.
Circle has ultimately raised its offering price to $31, expanding the total number of shares issued to 34 million, with total fundraising nearing $1.1 billion. On the first day of trading, Circle's stock price soared above $100, triggering the circuit breaker mechanism multiple times. At the close, the stock price reported $83.23, an increase of 168% from the offering price, with a total market capitalization reaching $18.4 billion and trading volume exceeding 47.78 million shares, approximately $4.014 billion.
This performance surpassed the first-day performance of several crypto companies' IPOs. From a market capitalization perspective, Circle's first day

The first GAS design of the MOVE language: Exploring on-chain GAS fee calculation methods
The previous version of the MOVE language was originally planned to run in a GAS-free environment, so it was not prepared for GAS design. Recently, a blockchain project team launched the first GAS design plan for its on-chain project based on the MOVE language, which is referred to as a "risky" attempt.
In this GAS plan, the team has clarified the principles, processes, calculation methods, and post-adjustment mechanisms for establishing GAS, and they welcome suggestions from the community.
GAS measurement is a fundamental concept of this project and many other blockchains. It defines the abstract calculation of the amount of computational and storage resources required to execute and store on-chain transactions. The GAS scheme determines the costs of all executions on-chain, which is used to calculate the GAS fees incurred during the execution of transactions.
Process
To execute effectively, the on-chain process of this project is:
1. Definition Principles

In the first half of 2023, the crypto assets industry experienced significant events, including the US digital bank crisis, Ethereum upgrades, policy adjustments in Hong Kong, and increased market regulation. Despite notable market fluctuations, TradFi's attention to crypto assets ETFs is expected to drive capital inflow. In the second half of the year, attention will be on Ethereum upgrades, non-private key wallets, and ETF progress, which is expected to support a new round of rise in the industry.

As of the end of April 2025, the BTC supply held by the trading platform has fallen to its lowest level since 2019, indicating that investors prefer self-custody, and institutional demand is also increasing. This trend may lead to a BTC supply shortage, thereby pushing up prices, and market sentiment will be validated in the coming weeks.

Two paradigms of stock tokenization: xStocks moves towards openness, Robinhood enters the walled garden.
The tokenization of real-world assets has become an important development direction in the blockchain field. With the involvement of fintech companies like Kraken and Robinhood, stock tokenization is gradually moving from concept to reality. Global investors can now participate in the trading of stocks from companies like Apple and Tesla in a more convenient way through blockchain technology. However, beneath the hype, we need to think deeply about the internal logic of this innovative model.
This report will focus on two typical stock tokenization models: xStocks(, representing the "Open DeFi" path issued by Backed Finance, traded on exchanges like Kraken), and Robinhood, representing the "compliance walled garden" path. Through comparative analysis of these two models, we will explore the strict

A Comprehensive Interpretation of BTCFi: From Lending to Staking, Build Your Own Mobile Bitcoin Bank
Summary
As Bitcoin's position in the financial market becomes increasingly solidified, the BTCFi sector is rapidly becoming the forefront of cryptocurrency innovation. This report deeply analyzes several key tracks of BTCFi, including stablecoins, lending services, staking services, re-staking services, and the combination of centralized and decentralized finance. The report explores the operational mechanisms, market development, key platforms and products, risk management measures, and future development trends in these areas.
By comparing the security, yield, and ecological richness of different asset classes, the unique advantages and potential risks of BTCFi relative to other areas of crypto finance are revealed. As the BTCFi sector continues to develop, more innovations and capital inflows are expected, further solidifying Bitcoin's leadership position in the financial sector.
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The Ethereum Foundation recently sold 35,000 ETH, attracting market attention. Historically, the foundation has sold ETH multiple times at high points, leading to market fluctuations. This sale is due to funding management needs, and although the impact on liquidity is limited, it may shake investor confidence. The foundation needs to improve financial transparency to stabilize community sentiment and promote ecosystem development.

The user motivation for on-chain abstract products mainly stems from excellent product experience and actual profitability. Currently, advantages have been achieved in user experience, but there is a need to expand profitable scenarios. The combination of on-chain wealth management and Decentralized Finance products will promote asset trading and management, allowing users to optimize investments through various scenarios such as liquidity and yield farming, while also needing to follow market trends to enhance benefits.

The 2025 Global Digital Mining Summit was successfully held in Las Vegas, themed "Efficiency First, Pioneering a New Era in Mining". The conference showcased groundbreaking Mining Rig products and discussed the communication of digital assets with policies, industry trends, and water cooling solutions, laying the foundation for sustainable development in the industry.

The DePIN sector is rapidly developing, centered around the Solana ecosystem, with projects like DoubleZero and Roam gaining significant attention. DoubleZero optimizes Web3 infrastructure, while Roam offers global seamless connectivity. The Solana ecosystem has attracted substantial investment, with a market capitalization exceeding $25 billion, demonstrating its strong potential in the field.

New Trends in the Solana Ecosystem: Jupiter Launches a Project Incubation Platform, Can It Ignite a New Wave of Market Enthusiasm?
Recently, an important protocol in the Solana ecosystem, Jupiter, launched a project incubation platform called Jupiter Studio. This initiative is not only an upgrade to the current popular token issuance model but also resembles a "on-chain project factory" created by Jupiter leveraging its own liquidity and protocol advantages.
Features of Jupiter Studio platform
The process of creating tokens is simple.
Users only need to pay the Gas fee to start the creation process, without needing to deposit funds in advance.
Creator Rights Protection
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On January 18, 2022, the AnySwap project was attacked. The BlockSec team conducted an emergency rescue, protecting 483 ETH. During the rescue, they faced challenges such as competing with the attackers and rising Money Laundering. Ultimately, they shared their experiences and emphasized the importance of white hat collaboration and transparency.

Regulatory Dynamics
1. The European Commission seeks opinions on the taxation of crypto assets
The European Commission is seeking public feedback on the reporting standards for cryptocurrency asset taxation. The OECD plans to introduce a common reporting standard for cryptocurrency assets in 2021, which will be similar to the existing anti-tax evasion CRS. This proposal was released in November, and the public can submit feedback by December 21. The new rules are expected to be officially launched in the third quarter of 2021.
2. Kazakhstan Studies the Introduction of Central Bank Digital Currency
The Central Bank of Kazakhstan is studying the introduction of central bank digital currency ( CBDC ). According to surveys, 80% of central banks worldwide have started research or pilot projects on digital currencies. The Kazakh central bank is collaborating with international organizations to explore regulatory methods and is participating in the observation of multiple CBDC projects. The Kazakh central bank plans to announce a report on the introduction of digital currency in the second half of 2021.
3. Nigeria establishes a cryptocurrency regulatory framework
Nigeria

In April 2025, financing in the Web3 industry cooled down, totaling $2.37 billion, with CeFi financing accounting for nearly 50%. Funds are leaning towards mid-to-late stage projects, Blockchain services are still being followed, while Chain and GameFi financing is relatively low. Leading institutions like Coinbase Ventures are actively investing in emerging projects, with an overall shift towards structured betting.

Stablecoins are gradually integrating into TradFi and the real economy, but technological innovations bring potential risks, such as a large number of illegal transactions. Global regulators are accelerating the construction of regulatory frameworks, with the United States and Hong Kong respectively introducing relevant legislation that emphasizes Compliance and Risk Management. In the future, the stablecoin industry will face a development stage that balances regulation and innovation.

A Canadian publicly traded company plans to raise up to 900 million CAD in funding over the next 25 months, involving various forms of securities, aimed at supporting the company's future development and Bitcoin reserves. This offering does not include the province of Quebec, reflecting the company's grasp of market opportunities and its layout in the digital asset space.

Recently, the collapse of a certain Algorithmic Stablecoin has triggered震荡 in the global crypto market, prompting regulatory agencies in various countries to take swift action to strengthen the regulation of crypto assets. South Korea is urgently inspecting exchanges, the U.S. Treasury and SEC are re-examining stablecoin legislation, and the UK is advancing regulatory plans while excluding Algorithmic Stablecoins, reflecting a global emphasis on investor protection and market risk.