1. Ant Group CEO: Firmly refrains from issuing virtual currencies and engaging in any form of speculation.
During the 2025 Inclusion Bund Conference, Ant Group CEO Han Xinyi stated that in exploring token economics, the exploration of the value of token economics and the control of risks should be placed on an equal footing. He emphasized, "Compliance is the lifeline of innovation." From the outset of exploration, Ant Group has clearly defined its boundaries: firmly not issuing virtual currencies and not participating in any form of speculation; focusing on technological infrastructure, serving the industry rather than disrupting it; striving to create new value rather than competing for a larger share of the existing pie. "Today, our understanding of both value and risk may still be far from sufficient, and we need to continue long-term exploration and research. Sustainable advancement is far more important than merely seeking speed or novelty," said Han Xinyi.
2. Ant Financial introduces smart agency contracts, set to be natively deployed on its Layer 2 blockchain Jovay.
At the 2025 Inclusion Bund Conference's Token Economy Forum, Ant Financial CTO Yan Ying announced the launch of the new "Agentic Contract," which will be natively deployed on its next-generation Layer 2 blockchain Jovay. "This is a fundamental upgrade for smart contracts," she stated, adding that smart contracts will transition from "automation" based on preset rules to "autonomy” with environmental awareness and dynamic decision-making capabilities, facilitating intelligent leaps in global value networks. As the core execution program of blockchain, smart contracts serve as the backbone for automated operations in blockchain networks. Yan Ying explained that today’s smart contracts are essentially automators of preset rules—"if condition A is met, then perform action B"—lacking perception, reasoning, and capability to handle complex or unknown scenarios; in other words, they are "agile" but not "intelligent."
3. Learning Times publishes article 'The Technical Principles and Trust Logic of Stablecoins': Stablecoins are increasingly favored by global compliant investors.
An article published in Learning Times, affiliated with the Central Party School, titled 'The Technical Principles and Trust Logic of Stablecoins' points out that against the backdrop of digital finance steadily permeating the global trade system, cryptocurrencies represented by Bitcoin and Ethereum have attracted widespread attention, but due to their extreme price volatility, they are difficult to perform mainstream payment functions. Stablecoins, represented by Tether (USDT) and USD Coin (USDC), have built anchoring mechanisms with fiat currencies, retaining the advantages of the efficient circulation and low-cost payments based on blockchain, while avoiding the instability and disadvantages associated with traditional cryptocurrencies. Consequently, they have become a focal point in current digital financial innovation. Recent legislative proposals and regulatory frameworks introduced in areas such as the United States, the European Union, and Hong Kong have laid a compliance foundation for the development of stablecoins, which are now being favored by global compliant investors and gradually merging into the mainstream financial system.
4. Coinbase: The crypto bull market is expected to continue into the fourth quarter, supported by funding and policy.
Coinbase analysts have indicated that there is still room for the cryptocurrency bull market to extend into the fourth quarter. The report notes that strong market liquidity, a favorable macro environment, and positive regulatory signals will continue to support market momentum. Although Bitcoin has previously experienced downturns in September, this seasonal pattern has not re-emerged in 2023 and 2024, holding limited statistical significance. Coinbase emphasized that a more crucial factor is the holdings of Digital Asset Treasuries (DATs), with publicly disclosed treasuries holding over 1 million BTC (approximately USD 110 billion), 4.9 million ETH (USD 21.3 billion), and 8.9 million SOL (USD 1.8 billion), providing solid support for prices. Coinbase further noted that the return of retail investors could signal the onset of "Alt Season." Under a stable macro environment and continuous inflows of capital, large cryptocurrency assets are expected to continue to benefit, while smaller tokens may face consolidation pressures.
5. Coinbase research director: The technical demand for crypto treasuries will provide short-term support for the market.
Coinbase research director David Duong tweeted that we believe the technical demand for crypto treasuries will sustain support for the crypto market in the short term, but the DAT (Digital Asset Treasury) phenomenon has reached a critical turning point. We are no longer in the early adoption phase of the past 6-9 months, but we also do not believe we are nearing the end. On the contrary, we have entered what is known as the PvP phase. This is a competitive stage where success increasingly depends on execution, differentiation, and timing, rather than merely replicating strategic scripts.
6. LD Capital's Founder: Bullish on ETH's Continued Bull Market Trend After Consolidation, Concentrated Investment in ETH Over Diversification
LD Capital's founder Jack Yi expressed in a post that he is consistently optimistic about ETH resuming its bull market trend after its consolidation phase. ETH has risen from over $1000, and the pattern shows that for every $1000 increase, it undergoes a period of consolidation before continuing to rise. Additionally, in diversified investments, apart from ENA, all others have underperformed compared to ETH. Overall, it seems that diversification is not as effective as concentrating on ETH.
7. 4E: JPMorgan's Rejection of Strategy's Inclusion in S&P is a Blow to Crypto Treasuries
According to 4E's observations, JPMorgan analysts noted that the S&P 500 index committee rejected the inclusion of Strategy (formerly MicroStrategy) into its constituents last week, despite its technical indicators meeting standards. This action is seen as a blow to the 'Bitcoin treasury model.' The report states that the committee has discretion in selecting constituents, indicating a cautious stance toward companies reconstructing balance sheets with significant Bitcoin holdings. In Hong Kong, the Monetary Authority released a consultation draft on 'Classification of Crypto Assets,' proposing to categorize crypto assets into two main categories and four sub-groups, with Group 1a as tokenized traditional assets, Group 1b as stablecoins with adequate mechanisms, and Group 2 covering reserve-less assets such as Bitcoin and Ethereum. This aims to implement the Basel Committee's new regulations for 2026, providing a clear framework for banks' capital adequacy. The U.S. regulatory landscape is also shifting. SEC Chairman Paul Atkins announced at an OECD roundtable the launch of Project Crypto, which will provide predictable rules for on-chain financing, emphasizing that 'most tokens are not securities' and allowing trading, lending, and staking activities under a unified framework. Additionally, European crypto asset management company CoinShares will list on Nasdaq through a merger with SPAC Vine Hill Capital and Odysseus Holdings, becoming the first Web3 company from Europe to go public in the U.S. 4E reminds investors: the global regulatory environment is becoming more detailed and layered, and the market positions of institutions and treasury companies are facing reassessment; investors should pay attention to the dynamic evolution of policies and compliance.
8. Blackrock Exploring Tokenization of Traditional Assets Such as ETFs via Blockchain
According to Bloomberg, Blackrock is researching how to tokenize traditional assets such as ETFs through blockchain, aiming for continuous trading, enhancing overseas accessibility, and providing new types of collateral for the crypto network. Previously, Blackrock launched a tokenized money market fund worth over $2 billion and tested related products on platforms like JPMorgan. This initiative still requires regulatory approval, and the current market size for tokenized assets is approximately $28 billion, significantly lower than the total of the U.S. ETF industry.
9. Gemini Completes $0.425 billion IPO Financing, Issuing Approximately 15.2 million Shares at $28 Each
According to Bloomberg, cryptocurrency exchange Gemini Space Station Inc., led by the Winklevoss brothers, has raised $0.425 billion through an initial public offering (IPO), issuing approximately 15.2 million shares at a price of $28 each, exceeding the previous range of $24 to $26. The company's latest financial report indicates a net loss of $0.283 billion and revenue of $68.6 million for the six months ending June 30. Nasdaq subscribed for $50 million worth of shares at the IPO price, with up to 10% of the shares allocated to long-term users, management, and employees, while retail investors can participate through platforms such as Robinhood, SoFi, and Webull. Documents show that prior to the company's listing, the Winklevoss brothers owned nearly all of the company, and post-IPO, they are expected to control approximately 94.5% of the voting power.
10. Wall Street is Offering High Salaries to Talent in the Stablecoin Sector, with Compliance Roles Seeing Salaries Up to $0.35 million
The stablecoin boom has greatly benefited crypto wallet technology provider Dfns, but in some respects, this 'benefit' may have gone too far. The company's co-founder Clarisse Hagège raised $16 million for her startup this January and is currently expanding to meet the demand from stablecoin clients. However, the growing popularity of these crypto tokens has sparked a talent war, making it difficult and costly for her company, which has only 42 employees, to fill 17 vacant positions. 'Everyone is spending big to attract talent right now,' she said. Owen Dearn, founder of fintech recruitment firm Find, stated, 'A massive talent gold rush is happening in this field.' He estimates that about 80% of the positions placed by his company in recent months are related to stablecoins. Dearn revealed that in the U.S., the typical annual salary for heads of stablecoin strategy at large traditional financial institutions usually ranges from $0.25 million to $0.4 million; in the UK, this position's annual salary is expected to range from £0.15 million to £0.22 million (approximately $0.203 million to $0.298 million). In the U.S., senior compliance roles in the stablecoin sector can see salaries up to $0.35 million.
11. Mogu Inc. will allocate up to $20 million in assets to digital assets to promote decentralized AI development and treasury management.
According to the official announcement, the board of directors of social e-commerce platform Mogu Inc. has approved the strategic allocation of up to $20 million of company assets to digital currencies, primarily including Bitcoin, Ethereum, and Solana, as well as related securities and investment products. The board believes that by integrating digital assets into its core assets, the company can not only diversify its treasury holdings but also enhance the operational capabilities required for next-generation AI products and services. As part of the strategic roadmap, the company is building a blockchain-enabled ecosystem. In AI products, digital assets will become the primary means for user access and interaction. Users can utilize purchased digital assets to access AI applications, services, and advanced features, as well as earn or spend digital assets on the platform. This on-chain circulation framework directly utilizes the company's holdings of Bitcoin, Ethereum, Solana, and other digital currencies, enabling the company to experiment with, adopt, and scale new product incentives and utility models.
12. The Guangzhou court ruled that contracts for the sale of overseas virtual currency "mining machines" are null and void.
According to the Guangzhou Daily, the Guangzhou Intermediate People's Court ruled that a sale contract for virtual currency "mining machines" operated by Chinese citizens overseas is invalid. In this case, both parties agreed to transport the "mining machines" to Mongolia for Bitcoin mining; however, the court determined that this activity involves financial security and ecological environment concerns, constituting illegal financial activity that disrupts China's financial order, and therefore, Chinese law applies and the contract is deemed invalid. The ruling emphasizes that Chinese citizens engaging in overseas virtual currency transactions remain subject to Chinese law.
