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The co-founder of StepN recently gave a speech at an event, explaining his views on NFT and Web3 social products. He believes that NFT is still an excellent communication tool, possessing inherent social attributes and value. StepN is committed to improving the quality of NFT products to enhance user experience. He emphasized that the Web3 industry requires deeper value propositions, and well-designed NFTs can bring diversity to products.
The speech mentioned that the conversion between Coin and NFT requires a time investment, for example, it takes about a month for virtual shoes in StepN to upgrade from level 0 to level 5. NFTs can also effectively filter users, and StepN has standardized user behavior through continuous user education while providing a unique experience.
In order to maintain a healthy ecosystem, StepN has invested significant resources in developing anti-cheating systems to prevent resources from being misallocated to users who may harm the economic model. In addition, he

Recently, a famous American bestselling author criticized the paid user verification system of a certain Social Web platform on a social platform, arguing that the monthly price of $19.99 is set too high. The leaders of the platform responded immediately, stating that the company needs to find new ways to profit and cannot solely rely on advertising revenue to sustain operations.
The leader further explained that he will release detailed instructions in the future, outlining why paid user verification is the only effective way to address bot accounts and malicious provocation on the platform. This response has sparked widespread discussion, with concerns about how social media platforms balance user experience, security, and commercial interests.
Some analyses suggest that introducing a paid verification mechanism may change the user structure and interaction patterns of the platform. Supporters believe this will help improve platform quality and reduce spam; while opponents worry it may limit the participation of ordinary users, resulting in information

A certain lending platform has announced that it has recovered the stolen assets, but the smart contracts have been damaged, and it has decided to develop a new system to handle asset returns. Users need to confirm the asset refund through the official website, and users who have not repaid loans need to follow the process to return the loans. The platform reminds users to guard against phishing websites and provides detailed return procedures.

Encryption Regulatory World Map: Policies in a Loosening Phase
In recent years, as the encryption market has increasingly garnered attention, the demand for its regulation has become more urgent. Countries have introduced distinctive regulatory policies based on their own economic, financial systems, and strategic considerations. From the ongoing game of cat and mouse between U.S. regulators and encryption companies, to the EU's comprehensive MiCA legislation, and finally to the balance between innovation and risk in emerging economies, the global landscape of encryption regulation presents an unprecedented complexity and diversity. Let us unfold the world map of encryption regulation and explore the hidden threads beneath this global regulatory wave.
In this article, we categorize countries into four types: business hubs, fully compliant, partially compliant, and non-compliant. The criteria for judgment include the legal status of encryption assets (50%), the regulatory framework and the implementation of legislation (30%), and the landing situation of exchanges (20%).
Asia
Greater China Region
Hong Kong, China
in

Stablecoins show potential in international payments, US stock tokenization, and the AI Agent field, contrasting sharply with the traditional financial system. The market is highly competitive and faces regulatory challenges. In the future, follow investment opportunities related to RWA and stablecoin zones.

This week, the Web3 sector emphasizes that Bitcoin is gradually becoming a stable investment vehicle, competition among stablecoins is fierce, several encryption companies plan to go public, the integration of AI and encryption is becoming increasingly close, and the DeFi market is recovering. In terms of regulation, new approaches for handling virtual money are being explored, and the Central Bank is promoting the international operation of the digital yuan.

Ethereum's strategic transformation: from world computer to global settlement layer
The strategic positioning of Ethereum has not recently shifted from "world computer" to "global settlement layer"; this transformation quietly took place as early as the implementation of EIP-1559. Stablecoins occupy 50% of the market share on the Ethereum network, further solidifying its status as a financial settlement layer. Let's delve into the details of this transition:
EIP-1559: Reshaping the Value Capture Model
The core of EIP-1559 is not just to lower Gas fees, but to fundamentally change the value capture mechanism of the Ethereum mainnet. Previously, Ethereum mainly captured value through gas consumption brought about by increased transaction volume, but the implementation of EIP-1559 altered this model.
Before EIP-1559, all transactions (including DeFi, NFT, and GameFi, etc.) were concentrated on the mainnet, resulting in a large amount of

Today's Crypto Assets News Briefing
Regulatory Dynamics
The Bitcoin Reserve Bill in Oklahoma, USA has passed committee review, allowing up to 10% of public funds to be invested in Bitcoin or digital assets with a market capitalization exceeding $500 billion.
A senator from Illinois, USA, has introduced the "Crypto Assets ATM Anti-Fraud Act" aimed at curbing the issue of fraud related to crypto ATM machines. The bill proposes setting transaction limits for new users and requires operators to verify large transactions.
The Financial Secretary of Hong Kong, Paul Chan, announced that the second Development Policy Declaration on Virtual Assets will soon be published, exploring the integration of traditional finance and virtual asset innovation. The government will consult on the licensing system for over-the-counter trading and custody services of virtual assets.
The Beijing Third Intermediate People's Court and Renmin University of China held a seminar on the disposal of virtual currency involved in cases, discussing disposal paths and the construction of future regulatory systems.
The U.S. Securities and Exchange Commission ( SEC ) officially ends its investigation into Unis

Crypto market investment and financing weekly report: Over $568 million in funds inflow, 20 investment and financing events announced.
According to statistics, there were a total of 20 investment and financing events announced in the global blockchain field last week (6.2-6.8), with a total funding scale exceeding 568 million USD, a significant increase compared to the previous week. The main investment areas are distributed as follows:
- There are 9 incidents in the DeFi field, among which a certain multi-chain ecosystem completed a strategic financing of 21 million USD;
- Starting with Web3 games 1, a certain AI gaming startup has secured $4 million in seed funding.
- In the Web3+AI sector, 3 incidents occurred, including a decentralized artificial intelligence company that completed a $5 million financing.
- In the infrastructure and tools sector, there are 4 cases, among which a certain Web3 security solution provider completed a 4 million euro seed round financing;
- Along with other applications, a gaming company completed a private financing of $425 million.
- Centralized Finance 2 starts, among which

Current Status of the Encryption Industry: Analysis of Five Core Indicators
The encryption field is moving towards a mature stage. This article will provide a comprehensive analysis of the growth and development status of the industry through five key indicators.
1. Monthly active mobile wallet users: increased by 23%
- Average for 2025: 34.4 million
- Average for 2024: 27.9 million
This growth trend highlights the significant improvement in wallet infrastructure. Low transaction fees, new account abstraction protocols, and the emergence of embedded wallet products have created favorable conditions for the development of a new generation of mobile wallets. Notably, a well-known payment company recently acquired a leading wallet infrastructure provider, further confirming the development potential in this field.
2. Adjusted stablecoin trading volume: increased by 49%
- Average monthly in 2025: $702 billion
- Average monthly in 2024: 472 billion USD

Interpretation of Hong Kong's new digital asset policy: System upgrades promote global development
Recently, the Hong Kong SAR government released the "Hong Kong Digital Asset Development Policy Declaration 2.0", demonstrating Hong Kong's determination to establish itself as a global center for digital asset innovation. This policy document proposes four major strategic frameworks under "LEAP": optimizing legal regulation, expanding the scope of tokenized products, promoting application scenarios, and cross-border cooperation.
An industry expert believes that this new policy marks a key step for Hong Kong in transitioning from a "testing ground" for digital assets to global development, moving towards "institutionalization, scaling, and globalization." In the future, compliance will become a necessary condition for entering the market.
Experts point out that the "Policy Declaration 2.0" is not only a continuation of previous policies but also a systemic upgrade. It systematically promotes compliance regulation, asset tokenization, scenario expansion, and talent development across four dimensions within the framework of the "LEAP" strategy.

Recently, the market has warmed up from the bottom, with Ethereum performing particularly well. With favorable factors such as the Pectra upgrade, continued buying of ETFs, and the success of the Virtual new issuance model, the price of Ether continues to rise, driving on-chain Memecoins to become active again.
At the same time, the well-established secondary Memecoins and AI sector tokens in the Solana ecosystem are generally on the rise. However, the pace of the Solana primary market is accelerating, lacking more new narrative support. The upper market is facing continuous selling pressure, while the lower market is being continuously drained by PumpFun. Apart from the Bonk ecosystem, opportunities to generate profits for ordinary investors are becoming increasingly scarce.
The Meme Revival of Ether
Matt Furie concept revival
For Ethereum Memecoin, Pepe is undoubtedly the rightful leader. In the last round of the ETH Meme craze, it cultivated a strong community, becoming

The article discusses the historical background of Labor Day and the contradictions of the capitalist mode of production, pointing out the problems with the argument for abolishing labor protections. It emphasizes that individuals should break out of the mentality of involution when facing difficulties, pursue genuinely scarce assets and financial freedom, while maintaining rational judgment and being wary of traps.

The Labubu toy brand achieved a 200% rise in stock price in 2024, with a market capitalization exceeding 350 billion HKD, and overseas revenue accounting for over 38%. However, the related crypto asset LABUBU has fallen to 27.89 million USD, highlighting the high speculation and instability of the virtual market. While Labubu toys have been successful, the related crypto asset struggles to maintain its value, underscoring the bubble characteristics of the Meme coin market.

Labubu is a successful plush toy, whose unique design and excellent marketing have led to its hot sales, but the associated digital assets have failed to maintain their momentum, reflecting the speculative nature of the digital asset market. Investment requires careful assessment of long-term value.

The development status and reflections on meme coin projects on virtual platforms
Recently, the Genesis Launches platform under Virtual has welcomed some eye-catching meme coin projects. Although the platform has previously seen some low-quality projects, public offerings of meme coins are not common.
Recently, a well-known AI Agent team launched the meme coin VIRGEN on the platform, which is the first meme coin project publicly issued by a renowned team. VIRGEN demonstrates a friendly attitude towards the community in its issuance mechanism, providing a large number of airdrops not only for presales and liquidity but also for ecosystem staking users and classic meme coin holders.
Another feature of VIRGEN is that there is no lock-up period, which means participants can profit immediately after the listing. Although there were concerns that this might lead to a price crash, the opposite has happened, with the token's price continuing to rise after the listing.

Fartcoin is a crypto asset with no practical application, yet it has risen against the trend during the downturn of the crypto market, sparking discussions on Wall Street. Originating from AI conversations, Fartcoin has achieved significant appreciation with the support of well-known investors and hedging funds, becoming a typical meme stock. Its success is seen as a reflection of speculative sentiment, revealing a new logic in the market.

The chairman of the US SEC emphasized the importance of establishing a reasonable regulatory framework for the cryptocurrency market at the tokenization roundtable. He mentioned that on-chain securities could reshape the traditional securities market and stated that the SEC would adjust its policies to encourage innovation, establish clear guidelines, support self-custody, and expand the variety of trading products to promote the development and compliance of cryptocurrency assets.