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The FTX bankruptcy case has entered a new phase, and creditors need to sign up for a claims account and submit necessary information to apply for their claims. The liquidation deadline is May 15, 2024, and it is advisable for creditors to consult a professional lawyer to protect their rights.

off-chain scaling Depth Analysis
1. The Necessity of Expansion
The future vision of blockchain is to achieve decentralization, security, and scalability, but typically only two of these can be achieved at a time. This is known as the blockchain's impossible triangle problem. For years, people have been exploring how to increase the throughput and transaction speed of blockchain while ensuring decentralization and security, which is to solve the scalability issue.
Let us first roughly define the decentralization, security, and scalability of blockchain:
- Decentralization: Anyone can become a node and participate in the blockchain system. The more nodes there are, the higher the degree of decentralization.
- Security: The higher the cost of gaining control over the blockchain system, the higher the security, and the chain can resist a larger proportion of attacks.
- Scalability: The ability of a blockchain to handle a large volume of transactions.
The first significant hard fork of the Bitcoin network originated from scalability issues. As the number of users and transaction volume increased, 1

The article discusses the impact of Bitcoin Halving on the market, pointing out that Halving is related not only to scarcity but also to cost factors and the role of the macro economy. By analyzing the market performance after previous halvings and the correlation with the U.S. money supply and elections, it looks ahead to the potential of a bull run in 2025 and emphasizes the importance of patiently waiting for changes in Fed policy.

New Hampshire: A Pioneer in U.S. Crypto Assets Regulation
New Hampshire is known for its unique natural scenery and innovative spirit. As an important player in the American Revolutionary War, the state is famous for its motto "Live Free or Die." Today, New Hampshire once again stands at the forefront of innovation, this time playing a leading role in promoting the widespread acceptance of Crypto Assets. In May 2025, the state became the first in the United States to establish a Bitcoin reserve through legislation.
Prior to this, New Hampshire had won the favor of the Crypto Assets industry due to its friendly tax policies. This article will delve into the state's tax system, particularly the taxation related to Crypto Assets, as well as the recent regulatory dynamics surrounding Crypto Assets.
Overview of the Tax System in New Hampshire
New Hampshire has relatively loose tax policies that are quite favorable to high earners, business owners, and ordinary wage earners. As one of the few states in the United States that does not impose personal income tax.

Fully Homomorphic Encryption (FHE): A Privacy Protection Tool in the AI Era
Although the cryptocurrency market has been relatively calm recently, some emerging technologies are still developing steadily, among which fully homomorphic encryption (FHE) is a noteworthy direction. In May of this year, Ethereum founder Vitalik Buterin also published an article on FHE, which sparked widespread discussion within the industry.
To understand the complex concept of FHE, we need to first understand the meanings of "encryption" and "homomorphic", and why the "fully" characteristic is emphasized.

The recently discovered win32k privilege escalation vulnerability by Microsoft may pose a serious threat to Web3 infrastructure, as hackers can gain full control over Windows systems through this vulnerability, leading to personal information leakage and digital asset theft. Patch analysis shows that the vulnerability originates from an object reference counting error, and the exploitation process is relatively simple, increasing security risks for outdated systems.

Building Web3 Super Applications: From Fat Protocols to Fat Applications
In 2016, Joel Monegro proposed the concept of Fat Protocols (. This concept achieved some success as an investment theme, but in the long run, it seems not comprehensive enough for the protocols that create most of the value.
This article presents the concept of the fat application )FAPP(, with the core assumption being:
Applications that offer a wide range of products will accumulate the most value.
Web2's dominant applications usually start from a specific professional field, and once they gain a dominant position, they will offer a range of different products to leverage network effects and fully utilize user advantages:
"Use tools to attract users, use the network to retain users."
In the cryptocurrency field, certain trading platforms exemplify this aspect, as they do not overlook any user and gradually provide all crypto-related services on their platform.

Decentralized Exchange (DEX) recorded a trading volume of $64.83 billion in February, continuing to attract user follow, with ETH price also breaking $2000 and miner income reaching a new high. However, high transaction fees have raised concerns about the scalability of the Ethereum network, necessitating improvements in network efficiency to cope with the development of Decentralized Finance.

Chain abstraction technology has become a new hotspot in the Crypto Assets field in 2024, enhancing user experience by simplifying multi-chain operations. Projects like Aave have already implemented cross-chain operations, promoting the popularization of technology and investment rise, with the market highly recognizing the future potential of this technology.

A Nasdaq-listed construction services company has secured $100 million in equity financing and plans to collaborate with a crypto asset management company to launch a digital asset reserve project, focusing on Bitcoin, Solana, and Sui, reflecting the traditional industry's exploration and collaboration trends in digital assets.

The Slerf project is currently experiencing a community takeover controversy, driving the Token price to double. The founding team's Crisis of Confidence and governance mechanism flaws have sparked industry reflection, emphasizing the opportunities and challenges in the future development of the MEME project.

The governance mechanism of Polkadot has evolved from v1 to v2, enhancing its features of Decentralization and flexibility. In v2, the responsibilities of the council are transferred to token holders, allowing for more public proposals and voting delegation, optimizing the voting process and standards. The introduction of a proposal tracking mechanism, cancellation operations, and the newly established Fellowship further enhances the efficiency and capability of governance, ensuring the continuous evolution of the network.

A well-known encryption asset trading platform launched TON-USDT Options on May 21, 2025, marking a new breakthrough in financial instruments for the TON ecosystem. This move meets users' demands for diversified financial tools, aids in the expansion of risk management and arbitrage strategies, and promotes liquidity and innovative development within the industry. The platform is committed to improving the derivation market and will continue to launch quality projects in the future.

The People's Bank of China has released security specifications for financial Distributed Ledger Technology, promoting the development of Digital Money and Blockchain; at the same time, it emphasizes the need to mitigate risks in Internet finance. Internationally, Russia has banned the use of Crypto Assets for payments, and a U.S. candidate has proposed regulations for Crypto Assets. Bitcoin Whales have suffered huge losses due to SIM attacks, and the FCoin crash has caused widespread losses. Several listed companies are collaborating with Blockchain, and financing in the Blockchain sector is active.

Recently, ETH has rebounded strongly, with an annualized return of 127.59%. The analysis is based on a moving average breakout strategy, which has shown excellent backtesting performance, with a drawdown of less than 15%. This strategy excels in capturing early trend momentum and profit continuation, but investors need to remain rational.

Comprehensive Analysis of Hong Kong's Stablecoin Regulations: Regulatory Framework, Application Process, and Industry Impact
In May 2025, Hong Kong officially passed the "Stablecoin Ordinance" and announced that it would take effect on August 1. The introduction of this bill marks a key step for Hong Kong in the global stablecoin regulatory landscape, bringing new opportunities and challenges for the entire Web3 industry. This article will provide a detailed interpretation of the core content of the "Ordinance" and explore its profound impact on the industry landscape.
1. Analysis of Regulatory Framework
1. Regulatory Target
The "Regulations" clearly define the regulatory target as "designated stablecoin", which refers to stablecoins that fully reference one or more official currencies, a calculation unit designated by the Monetary Authority, or a form of economic value storage, in order to maintain stable value. This is essentially what is commonly referred to as fiat-backed stablecoins.
The Hong Kong government has chosen to focus on payment functions for regulation, as fiat stablecoins are most likely to be used as "quasi-currency."

KNOW YOUR RISK (KYR) is a newly launched Web3 Compliance solution designed to help the encryption industry tackle compliance challenges. Targeting the Singapore and Hong Kong markets, KYR offers risk assessment, financial due diligence, and legal compliance services to assist businesses in identifying and managing risks for sustainable development.