Web3 Weekly Highlights: Progress on US Stablecoin Legislation, New Developments in Hong Kong Regulation, and Analysis of Bitcoin Rise

Macroscopic Perspective

The US GENIUS stablecoin bill has passed the Senate vote and must now undergo review by the House of Representatives and receive the President's signature to officially become law. Provisions in the bill regarding stablecoins associated with certain political figures' families have sparked controversy. The subsequent progress of the bill is worth monitoring, as it will have a significant impact on the regulatory landscape of cryptocurrency in the US.

Hong Kong regulators recently passed legislation related to stablecoins and conducted sandbox testing on three issuing institutions. Some lawmakers have called for the issuance of Hong Kong dollar and Renminbi stablecoins to strengthen Hong Kong's position as a digital financial hub connecting the mainland with other countries. They also suggested that the government expedite the approval process to provide more opportunities for market participants.

Analysts predict that Bitcoin may enter a stepwise rise pattern, with an annual compound growth rate expected to stabilize around 8%. The target price of $160,000 may be within reach.

Ethereum has recently rebounded strongly, reigniting hopes for its undervalued positioning in the market. Comprehensive data analysis reveals that Ethereum is undergoing a value reconstruction, but there are still disparities in the ecosystem. The future development prospects are worth continuous attention.

AI and Meme Trends

A certain IP character has recently become popular worldwide, and the related crypto tokens have also been sought after. This reflects the younger generation's demand for personalized expression and showcases the influence of Meme culture on the crypto market.

Looking back at the development of AI in the Web3 space over the past few years, five major waves of hype can be identified. Understanding these trends helps investors uncover potential opportunities.

A certain internet celebrity faced serious consequences for endorsing a Meme coin, including investigations by law enforcement and threats to personal safety. This highlights the risks in crypto marketing.

A well-known venture capital firm has sorted through the on-chain AI landscape and believes that this field has the potential to expand the crypto ecosystem to a broader range of AI-driven participants.

Project Updates

A certain emerging project is created by a top team and has received investments from several well-known institutions, its AI interaction model has attracted attention.

A certain project has received official support from a public blockchain, and is regarded as a deterministic opportunity within that ecosystem.

A Bitcoin Layer 2 project founded by a former executive of a major payment giant is drawing attention and has received backing from well-known venture capital, with its ecosystem beginning to take shape.

Recent data from a certain NFT project shows that early participants obtained an average return of 32 times, with the level of oversubscription positively correlated with the rate of return.

Industry Insights

Many well-known institutions have expressed their views on a certain trading platform incident, discussing how to regulate market maker behavior to maintain healthy market development.

A London asset management company has recently made a large purchase of Ethereum, becoming the focus of the market. The company manages over $3 billion in assets and is an important client of a major stablecoin issuer.

The algorithm mechanism of a certain content platform has sparked controversy, with some arguing that excessive reliance on algorithms may limit the creative space of creators.

17 Web3 games announced they will cease operations in 2025, reflecting the dual challenges of funding and confidence facing the blockchain gaming industry.

A well-known DEX suffered a $260 million hacker attack, and the measures taken by the officials have sparked a debate on centralization. This has once again triggered discussions on the trade-off between decentralization and security.

Important News

A certain mobile device manufacturer has announced that the next generation of Web3 phones will soon be shipped and has launched a token incentive program.

A large exchange has launched a new cryptocurrency futures product.

A major bank in France plans to issue a USD stablecoin on Ethereum, which could become the world's first.

The chairman of the U.S. Securities and Exchange Commission stated that it will adjust its cryptocurrency regulatory strategy and integrate the functions of relevant departments.

The founder of a certain public chain denied the allegations of misappropriating project funds and promised to release an audit report.

The amount of US Treasury bonds held by a certain stablecoin issuer has surpassed that of a certain major country.

Details of a cooperation agreement between a certain asset management giant and a certain stablecoin company have been exposed, including terms that prohibit the issuance of stablecoins independently.

A trading platform will offer more than 50 tokenized stocks and ETF products, covering several tech giants.

According to reports, several major banks in the United States are discussing the possibility of jointly issuing a stablecoin.