Blockchain

This article explores the evolution of AI payment (Agent Payment) by examining two major protocols—Google’s AP2 and Coinbase’s x402. It emphasizes the dual-track coexistence of fiat currency and stablecoins, the importance of permission-based authorization and verifiable credentials, and highlights entrepreneurial opportunities at the execution layer, represented by projects like FluxA.

This report highlights nine startups most favored by investors at Y Combinator (YC) 2025 Summer Demo Day. It focuses on AI-driven tools and infrastructure, industry-specific applications, and how these ventures address key pain points to drive rapid revenue growth and scaling.

The article not only analyzes the current issues in the Meme x live streaming model, such as the disconnect between token prices and live streaming quality, the loss of user trust due to highly volatile token prices, and the lack of user retention mechanisms, but also proposes specific methods for how prediction markets can inject new vitality into the live streaming ecosystem.

The article explores three interesting observations in detail: the concentration of tokenized stock trading, the decline in weekend liquidity, and the comparison of prices with Nasdaq.

This article offers a comprehensive examination of Hyperliquid's Event Perpetuals proposal—a novel trading product aimed at incorporating binary prediction market capabilities into its perpetual contracts platform.

This report highlights that as of August 2025, the global stablecoin market capitalization has reached $280 billion, with annual on-chain settlement volumes surpassing $30 trillion. Stablecoins are evolving from mere crypto trading instruments into global financial infrastructure. This explosive growth is driven by regulatory implementation and the entry of major enterprises. The enactment of the GENIUS Act, the Stablecoin Bill, and the MiCA Regulation mark the beginning of a “compliance grand era” for stablecoins. Their model has advanced into a “Peg + Yield + Application” triad, expanding across payments, yield generation, and real-world applications. At the same time, competition has shifted from “token battles” to “infrastructure battles,” with players such as Tether, Circle, Stripe, and Alchemy Pay building proprietary blockchains to capture dominance in payments and settlements.

The article not only introduces the latest developments of Base, but also provides an in-depth analysis of the background and potential impact of its token issuance, as well as Base’s strategic considerations regarding decentralization and ecosystem expansion.

This article uses on-chain data analysis and cross-chain comparisons to explore how Binance and its Alpha platform accelerate user adoption and trading volume growth. It also analyzes the emergence of innovative sectors, including Meme Coins, RWA (Real World Assets), and AI.

Southeast Asia Non-USD Stablecoin Market Report Q2 2025: XSGD Dominates, Political and Regulatory Diversity, DEX Trading Volume Plummets, But Active Addresses and User Engagement Rise Steadily, Revealing the Potential and Challenges of Local Stablecoins in Cross-Border Payments and Financial Inclusion.

a16z analyzes the growth logic of Web3 projects, pointing out that traditional Web2 metrics are difficult to apply, and proposes a framework for measuring users, transactions, community, and ecosystem that is suitable for the crypto space.

Arc Network adopts USDC as native gas, introducing a fee smoothing mechanism and enterprise-grade accounting logic to address the pain points of unpredictable blockchain gas fees tied to crypto asset prices. With a low-cost and stable **USD-denominated** fee structure, Arc provides enterprises with clearer accounting compliance, simpler treasury management, and a more user-friendly experience, empowering applications in payments, capital markets, and beyond.

The cryptocurrency industry has always been a dark forest, requiring vigilance against on-chain security threats as well as real-world legal risks. For some, using USDT transfers for currency exchange means doing a favor for a friend and building goodwill; for others, it results in criminal charges for "illegal business operations."

The article delves into the long-term battle between Appchains and General Purpose Chains (GP Chains), drawing on financial history, platform economics, and distribution effects. It points out that finance and applications will ultimately trend towards centralization, with the best applications strengthening GP chains rather than building isolated ecosystems.

The Coinbase research team believes that the "September curse" does not apply to the crypto market, as historical seasonal patterns lack statistical significance. With expectations of Federal Reserve rate cuts, the continued expansion of Digital Asset Treasuries (DATs), and favorable regulatory developments, the market is expected to continue its bull run in Q4 2025, with particular attention on Bitcoin's performance.

The article emphasizes Pump's ecosystem expansion, including the addition of new features and early positioning in the live-streaming sector, all of which provide strong support for Pump's long-term growth.