combination

CZ stated at the offline "Binance Life" book club meeting in Hong Kong that Hong Kong, as a financial center, has unique advantages in the flow of fintech talent, mainland talent, and institutional connections. Although it is not outstanding in infrastructure such as electricity and data centers, its competitiveness in the Web3 financial sector is evident. He believes that the current AI hype will not hinder the long-term development of Web3, and individuals should choose directions that interest them, that they are capable of, and that hold value; Hong Kong and Web3 are indeed a strong combination. Besides Hong Kong, he is also optimistic about Dubai and Abu Dhabi in the UAE, as well as the United States after its policy shift to support the crypto industry.CZ mentioned that the development speed of RWA has significantly exceeded his previous expectations, especially in terms of securities on-chain. Traditional stocks are limited by account opening thresholds, trading hours, and geographical restrictions. Once assets are on-chain, they can be directly accessible to global investors, significantly enhancing accessibility and liquidity, making them more attractive to countries and companies with smaller securities market sizes. RWA will be an important development direction moving forward, and stablecoins are essentially a type of RWA that brings fiat currency onto the chain. Currently, the market is mainly dominated by USD stablecoins, and in the future, more countries may promote their national currencies to be on-chain to expand their global circulation.He also stated that DEX has gradually evolved over the past eight years from products like Uniswap and PancakeSwap to Hyperliquid, with both infrastructure and user awareness significantly maturing. According to his current understanding, the regulatory pressure from the U.S. on decentralized products has eased compared to the past, and clearer separation models are beginning to appear between international platforms and those targeting U.S. users, with some international platforms not necessarily requiring comprehensive KYC. If the policy environment continues to relax, the development speed of DEX and the entire crypto industry may significantly accelerate in the coming years.

According to CoinDesk, NYDIG's Global Research Director Greg Cipolaro stated that the decline in Bitcoin does not have a single cause, but is due to multiple overlapping factors. The AI sector continues to siphon funds from the crypto market, and investors are preparing for large tech IPOs such as SpaceX, OpenAI, and Anthropic, with institutions needing to raise cash or reduce existing positions.The U.S. Treasury Secretary claimed to have seized approximately $1 billion in Iranian-related crypto assets, raising concerns about government intervention in the digital asset market. Quantum computing threats have once again become a focal point, and Strategy's sale of 32 BTC, while negligible on the supply side, has a greater psychological impact.Cipolaro pointed out that on-chain indicators show that several metrics are approaching historical bottom levels, with the MVRV ratio dropping to 1.2 and the proportion of profitable supply recently falling below 50%. However, the current 53% drawdown is far lower than the previous cycle's levels of 75%-90%, and it has only been 242 days since the peak. This suggests that either institutions have fundamentally changed Bitcoin's cyclical behavior, or the market has not yet truly entered a capitulation phase.

According to a post by Santiment on social media, a large number of traders have bet on the decline of HYPE in the past few days, and significant negative spikes in funding rate data have appeared across trading platforms. However, the price of HYPE continues to rise, forming a classic short squeeze that forces bearish traders to automatically buy back their positions, further driving up the price. Currently, the total value of HYPE's open contracts remains at a very high level of over $1.92 billion.Although the market generally believes that liquidations will lead to the collapse of open contracts, HYPE remains one of the hottest assets in the crypto market, with new traders continuously entering, keeping the open contracts at a high level.The main catalyst for this round of increase is the growing enthusiasm for Hyperliquid-related ETF products. In May 2026, companies like Bitwise and 21Shares launched HYPE-linked ETFs, providing traditional investors with a channel to gain exposure to the asset without the need to directly use crypto wallets or decentralized exchanges. Market analysis suggests that the launch of these ETFs marks Hyperliquid's transition from a niche DeFi platform to an institutionally recognized crypto ecosystem.

Vitalik Buterin posted on social media, listing several native privacy initiatives that Ethereum is currently promoting, including the combination of AA and FOCIL (providing top-notch support and strong packaging guarantees for privacy protocol transactions), the Keyed Nonces scheme, and access layer-related work (covering features such as Kohaku and private reads).

Marc Andreessen, co-founder of Andreessen Horowitz (a16z), posted on X that the combination of OpenClaw and Pi is one of the top ten software breakthroughs of all time.It is reported that Pi (full name Pi Coding Agent) is a minimalist AI coding agent developed by Mario Zechner (@badlogicgames) at the end of 2025, and it is the core "kernel" of OpenClaw. It provides only four tools for LLM (language learners) — reading, writing, editing, and bash — along with a concise prompt for iteratively building, running, and fixing code autonomously. There are no bloated features.Peter Steinberger, founder of OpenClaw, retweeted the post.

During the Asian trading session, U.S. Treasury yields fell slightly across the board, driven by expectations related to the nomination of Kevin Warsh as the Federal Reserve Chairman. Erik Liem, an analyst at Deutsche Bank, noted in a report that Trump's nomination of Kevin Warsh has strengthened a market expectation that the Federal Reserve may not rely as heavily on balance sheet measures in the future as it has in the past.Meanwhile, the U.S. Treasury's decision to maintain stable auction sizes aligns with market expectations, although officials stated that they are still assessing the possibility of increasing the auction sizes for bills, bonds, and floating rate notes in the future.

The police remind that as the year-end approaches, a new type of scam involving "offline cash withdrawal + online fraud" has emerged during the peak period of gold consumption. After the victims purchase gold at a jewelry store and have it mailed to a designated location, the scammers will send disguised "runners" to collect the package from the courier. Multiple "runners" relay the package, with the last one taking the gold to a recycling shop to sell it and then delivering the cash to a location specified by the scammers.Some scammers will also instruct the "runners" to find currency dealers to exchange the gold for virtual currency, which is then deposited into a designated account. This virtual currency can be circulated globally using blockchain technology. Once successful, the scammers achieve their goal of stealing gold and laundering money.

Dragonfly managing partner Haseeb Qureshi recently published a post regarding the viewpoint that "the market crash on 10/11 was triggered by Binance and Ethena." He stated that this narrative is difficult to establish in terms of timeline, market dissemination path, and evidence. He pointed out that the price of Bitcoin had already bottomed out about 30 minutes before the anomaly in USDe appeared on Binance, indicating that the causal relationship is clearly inverted. Additionally, the deviation in USDe price only occurred on Binance and did not spread to other trading platforms, which cannot explain the large-scale liquidation across the entire market and is fundamentally different from events like Terra that caused global balance sheet shocks.Haseeb believes that a more reasonable explanation is the combination of multiple factors: Trump's tariff comments disturbed the market on Friday evening, the Binance API anomaly prevented market makers from hedging across platforms, liquidation and the ADL mechanism amplified volatility, and the lack of traditional financial-style circuit breakers and self-stabilizing mechanisms in the crypto market ultimately caused the market to evolve along an unfavorable path. He emphasized that there is no simple and conspiratorial "single culprit" for 10/11; although the market suffered a heavy blow, it has not been permanently damaged in the long run and only needs time to restore liquidity and confidence.

According to Jinshi News, Huatai Macro Research Report pointed out that on January 30, Beijing time, Trump announced the nomination of Kevin Warsh as the next Federal Reserve Chairman. After taking office, Warsh may promote a policy combination of "rate cuts + balance sheet reduction," and communication with the president may be smoother. However, the Trump administration's support for capital markets and liquidity will remain, and the overall orientation of monetary policy will still be loose. In the medium term, the independence of the Federal Reserve may be eroded, and the trend of the dollar's intrinsic value declining may not change.

According to Jinshi reports, Federal Reserve Chairman Powell stated that there are countless possibilities for inflation and employment, which will prompt the Federal Reserve to adopt a combination approach for policy adjustments.

Backpack CEO Armani Ferrante posted on the X platform that Backpack has officially launched its product for entering the prediction market field—Unified Prediction Portfolio, and has initiated a private test limited to invited users.This product employs a cross-margin and cross-collateral mechanism, integrating spot, spot margin, lending, perpetual contracts, prediction markets, as well as crypto and fiat assets into the same sub-account, addressing the issues of long-term fund locking and high opportunity costs in the prediction market.Ferrante stated that this is not a simple encapsulation of existing prediction market platforms, but a brand new system built natively by Backpack, supporting prediction trading, hedging, and various advanced order operations within the same margin account. The current testing phase will focus on validating the risk engine and basic functionalities, with plans to gradually expand features, market scale, and user base in the future.

Vitalik Buterin stated that the current ZK-EVM has entered the alpha stage, demonstrating production-level performance, with the remaining major work focused on security; meanwhile, PeerDAS has officially launched on the Ethereum mainnet. Vitalik pointed out that this is not a gradual optimization, but rather a transformation of Ethereum into a new type of P2P network that simultaneously possesses decentralization, consensus mechanisms, and high bandwidth.He recalled that BitTorrent has high bandwidth but lacks consensus, while Bitcoin has consensus but is bandwidth-limited due to full replication; with the introduction of PeerDAS (data availability sampling) and ZK-EVM, Ethereum is expected to achieve decentralization, consensus, and high throughput simultaneously, solving the trilemma through "real code running on the mainnet." Among these, PeerDAS is already running on the mainnet, and ZK-EVM has reached production-level performance.Vitalik expects that starting in 2026, with the advancement of mechanisms like BAL and ePBS, the gas limit will gradually increase, and there will be practical opportunities to run ZK-EVM nodes; from 2026 to 2028, there will be gas repricing, state structure adjustments, and execution load entering blobs; by 2027 to 2030, ZK-EVM is expected to become the primary method for validating blocks on the network, further promoting an increase in the gas limit. Additionally, he mentioned the importance of distributed block construction, with the long-term goal of avoiding the complete construction of blocks in any single location and decentralizing block construction power through on-protocol or off-protocol means to reduce the risk of centralized intervention and enhance regional fairness.

Binance founder Zhao Changpeng stated regarding "He Yi will serve as co-CEO of Binance," "He Yi should have been the CEO of Binance from day one (8 years ago). Binance has two strong leaders with complementary skills, and there will be a great journey ahead."

ChainCatcher news, Bitwise Chief Investment Officer Matt Hougan posted on social media, "The formula is simple: ETF fund flows + fund companies + a simple story = all-time highs. It applies to Bitcoin, it applies to Ethereum, it applies to Solana."

ChainCatcher news, according to Cointelegraph, billionaire Paul Tudor Jones recently stated, "BTC, gold, and stocks are the best investment portfolio against inflation."