TokenAlchemist

Next week's Jackson Hole Global Central Bank Summit will attract investors' attention, as Fed Chairman Powell will deliver a speech and may take a hawkish stance. Several Fed officials have previously released hawkish signals, emphasizing the need to continue to curb inflation. The crypto assets market has fallen sharply due to concerns about the Fed's policy direction.

MicroStrategy significantly increases its Bitcoin holdings, CEO Saylor resolves tax dispute.
Recently, MicroStrategy's accelerated buying of Bitcoin has attracted widespread attention. The number of Bitcoins held by the company surged from 226,000 in June 2024 to 439,000 in December. This investment strategy is strongly supported by the company's CEO Michael Saylor. Saylor became a well-known figure in the crypto market back in 2020 due to his firm belief in Bitcoin. However, he became embroiled in a significant tax dispute in 2022.
In August 2022, the government of the District of Columbia filed a lawsuit against Saylor through the Office of the Attorney General, accusing him of tax evasion of approximately $25 million. Under the District's False Claims Act, Saylor faces fines of up to $75 million. After

The article discusses how blockchain technology can provide business services to enterprises, highlighting its advantages in asset ownership and data privacy. Blockchain can help companies improve customer acquisition, revolutionize loyalty programs, and facilitate broader applications through zkLogin technology. The director believes that the boundaries between blockchain and the internet will become increasingly blurred in the future, driving more innovative business applications.

Bitcoin recently broke through $110,000, setting a new historical high, which has sparked heated discussions among investors. The article analyzes Bitcoin's historical cycles, value fundamentals, and asymmetric investment opportunities, emphasizing that despite the significant fluctuations, the long-term value logic of Bitcoin still exists, and there are opportunities to get on board currently. It is recommended to pay attention to the gap between price and value, and to remain patient and rational.

The article discusses the changes in the native encryption industry and the current new landscape, emphasizing the impact of regulation on industry development. With the compliance of stablecoin and asset issuance, the role of TradFi is gradually increasing, leading to a compression of the innovation space in the encryption industry. Moreover, the rise of attention economics means that project success increasingly relies on marketing strategies, posing challenges for long-term development. In seeking a balance between compliance and innovation, the industry must maintain the spirit of decentralization and technological innovation.

Overview and Future Prospects of zk-SNARKs Technology
Abstract
zk-SNARKs ( ZKP ) is widely regarded as one of the most revolutionary innovations in the blockchain field, following distributed ledger technology, as an important cryptographic technique. This article provides a systematic review of the development and latest research of the ZKP technology over the past forty years.
First, the basic concepts and historical background of ZKP are introduced, with a focus on analyzing circuit-based ZKP technologies, including the design, application, and optimization methods of models such as zk-SNARKs, Pinocchio, and Bulletproofs. In terms of the computing environment, this paper introduces ZKVM and ZKEVM, discussing how they enhance transaction processing capacity, protect privacy, and improve verification efficiency. The article also elaborates on ZK

Global geopolitical changes are impacting the crypto market and AI development. The easing of Sino-U.S. relations is driving a market recovery, while new diplomatic dynamics in the Middle East are strengthening AI and defense cooperation, alleviating geopolitical conflicts. At the same time, the institutional recognition of the crypto market is increasing, and regulatory frameworks are gradually taking shape, marking the advancement of crypto assets into the mainstream financial system.

Ethereum's Dominance in the RWA Market: Who Will Take the Baton Next?
Key Points Summary
Ethereum is currently leading the RWA market with its first-mover advantage, past institutional experiments, deep on-chain liquidity, and decentralized architecture.
A universal blockchain with faster and lower-cost transactions, as well as an RWA dedicated chain designed for regulatory compliance, is addressing the cost and performance limitations of Ethereum. These emerging platforms are positioning themselves as next-generation infrastructure by offering superior technological scalability or built-in compliance features.
The next phase of RWA growth will be led by a chain that successfully integrates three elements: on-chain regulatory compliance, a service ecosystem around real-world assets, and meaningful on-chain liquidity.
1. Where is the RWA market currently growing?
Tokenization of Real World Assets (RWA) has become one of the most prominent topics in the blockchain industry. Global consulting firms have released extensive market forecasts, and there are

The securities giant enters the Crypto Assets field: The innovative path of an established brokerage firm.
On June 13, 2025, the founder of a fintech media outlet conducted an exclusive interview with the head of a well-known securities company's virtual asset business. As the third-generation heir of a family business, this individual has continued the company's 54-year financial gene, pioneering new frontiers in the Crypto Assets field with an innovative spirit and a commitment to compliance. He expressed a strong sense of mission to bring liquidity back to Hong Kong through innovative products. From lessons learned from personal experiences to unique insights on asset tokenization and stablecoins, this leader showcased the immense potential of integrating traditional finance with Crypto Assets. His candid and pragmatic responses portrayed him as a grounded yet visionary industry pioneer. This conversation not only revealed the company's transformation story but also added anticipation for Hong Kong's future as a global virtual asset center.
This long-established brokerage has experienced 54 years since its establishment in 1971.

This article analyzes the development trends and future opportunities of Ethereum technology, primarily introducing the important phases and upgrade plans in the 2025 roadmap, key discussions at the DevCon conference, and the impact of the upcoming Pectra upgrade on rollups and account abstraction. In the future, the interactivity of rollups, account abstraction, and applications of Cryptography will become potential rise areas.

Initia: Building a Full-Chain Rollup Ecosystem for the Web3 Era
With the rise of modular public chains, blockchain technology has ushered in a new wave of development. Data shows that there are currently 53 L2 public chains in operation in the market, with another 42 under development. Although these public chains, designed for different application scenarios, can meet diverse needs, they also bring about issues such as complexity and fragmentation.
Against this backdrop, the modular project Initia launched by the Cosmos ecosystem has attracted widespread attention in the industry. Initia transforms blockchain into a form that is as accessible and integrable as smartphone applications, aiming to provide users with an intuitive and interconnected blockchain application experience. The product suite of Initia includes multi-chain browsers, wallet tools, cross-chain bridges, centralized application platforms, and on-chain identity systems, dedicated to building a unified and user-friendly blockchain ecosystem.

Build Your Own Blockchain: A Deep Dive into Polkadot SDK
Today, blockchain developers face two choices: they can deploy smart contracts on existing networks or create dedicated blockchains with custom logic, governance mechanisms, and native cross-chain capabilities. As multi-chain architecture matures, the market's demand for highly customized solutions continues to rise, and developers increasingly wish to control every layer of the technology stack to achieve faster iterations and innovations at the protocol layer.
The Polkadot SDK is a tool designed to meet this trend. It adopts a modular design, supporting the entire process from development to launch, allowing teams to easily initiate Rollups, sovereign chains, or complex cross-chain applications without having to build the underlying architecture from scratch. Whether constructing DeFi rollups, DAO coordination networks, or AI-native chains, this flexible toolkit can provide.

Hong Kong has launched the "GF Token", a tokenized security that can be redeemed daily, marking an important advancement in financial technology. This product supports multiple currency options, utilizes blockchain for transparent circulation, meets the needs of high-net-worth investors, promotes the integration of on-chain assets with real-world assets, and lays the foundation for building an on-chain financial ecosystem in Hong Kong.

Who is the final champion of the DA track? Background, ecology, and outlook of the Data Availability War.
1. The emergence of Data Availability issues.
1.1 What is DA
Data availability refers to the situation where block producers publish all transaction data of a block to the network, allowing validators to download it. If the block producer publishes complete data and makes it downloadable for validators, the data is available; if part of the data is concealed, preventing validators from downloading the complete data, then the data is not available.
1.2 Two Key Points of DA Issues: Security and Cost
DA includes two aspects:
1. Ensure the verification mechanism is securely conducted.
2. Reduce the cost of data publishing
To ensure verification security, L2 sorters usually publish state data and transaction data on Ethereum, relying on Ethereum for settlement and data availability. But this

A certain Crypto Assets education platform has received a strategic investment of 8.5 million USD, aiming to accelerate the development of its paper trading platform and Token applications, and promote innovation in crypto education. This will enhance user experience, popularize crypto knowledge, and improve industry transparency and sustainability.

The article discusses the future of Web3 social, emphasizing the need to address income issues through token economic models and incentive mechanisms. Successful Web3 social must innovate social experiences, avoiding simple replication of Web2 models, in order to attract users and achieve sustainable development.

Nova: An innovative zk-SNARKs system
Nova is a new type of zk-SNARKs system developed by Microsoft. It uses the Relaxed R1CS( technology to improve the efficiency and flexibility of the proofs.
The main advantages of Nova
1. The use of relaxed R1CS technology allows for less randomness in the proof, significantly improving the efficiency of the proof.
2. Supports incremental computation, allowing complex functions to be calculated step by step without needing to compute the entire function all at once.
3. Supports polynomial calculations, capable of handling more complex proof tasks.
Potential drawbacks of Nova
1. Due to the use of relaxed R1CS, the proof may not be as robust as traditional R1CS systems and may slightly reduce security.
2. The implementation is relatively complex and requires a deep understanding of polynomial computation, group operations, and other advanced cryptographic techniques.

RGB protocol: Make Bitcoin great again
After more than a decade of vigorous development, Web3 technology has generated various innovations. Bitcoin has continuously enhanced its privacy protection capabilities while maintaining decentralization and security, achieving advanced features such as Schnorr signatures and Taproot, laying the foundation for subsequent technological innovations. The development of smart contract platforms like Ethereum has ushered in a golden age of applications such as DeFi. However, since 2022, innovation in the Web3 industry seems to have hit a bottleneck, with blockchain technology struggling to break free from the constraints of the impossible triangle, making large-scale applications difficult to implement. Against this backdrop, the Bitcoin Layer 2 protocol RGB is quietly maturing, promising to overcome existing technological limitations and bring new possibilities to Web3.
Bitcoin: Establishing its position as a currency layer
The biggest difference between Web3 and Web2 lies in the built-in economic system, and the foundation of the economic system is currency. W

Crypto market weekly overview
Market View
macroeconomic liquidity
Recently, the US stock market has experienced one of its most severe adjustments since the pandemic. The easing of expectations for reciprocal tariffs in the US has boosted market sentiment, and signs of a bottom in the US stock market have begun to emerge, although they have not yet been fully confirmed. The crypto market has rebounded closely following the fluctuations of the US stock market.