1. From Gambling Operators to "ETH Version of MicroStrategy" Understanding SharpLink's Ethereum Treasury Journey

On May 27, 2025, sports betting operator SharpLink Gaming, Inc. (NASDAQ: SBET) announced the signing of a securities purchase agreement for a $425 million public company private investment (PIPE), planning to issue approximately 69.1 million shares of common stock (or equivalent securities) at a price of $6.15 per share (with company management team members at $6.72 per share). Consensys Software Inc. led the round as the main investor, with participants including well-known crypto venture capital firms such as ParaFi Capital, Electric Capital, Pantera Capital, and Galaxy Digital. Click to read.

2. Why has Bitcoin risen so rapidly recently?

As our friends at Geiger Capital say: "The candlestick chart is crazy. This is price discovery." This is how price discovery works. The repricing of Bitcoin will continue to rise until the net new buyers are exhausted. Click to read.

3. Bitcoin stands out on its own

This is a thought I had recently while chatting with a friend. He asked me about the difference between Bitcoin and various altcoins. After sorting through the various technical differences (Bitcoin is truly decentralized, Bitcoin is based on proof of work, Bitcoin has a limited supply, and there is no known founder of Bitcoin), I suddenly realized that my friend was looking for a financial argument. Click to read.

4. China FTX creditors please note: your compensation may be zero.

A global plunder disguised in the cloak of a program is quietly beginning. In early July 2025, a motion document from the bankruptcy court in Delaware, USA, struck like a thunderclap, hitting the most silent group among global FTX creditors. Click to read.

5. China's Stablecoin Grand Strategy: From Avoiding Hegemony to Reshaping Order

The current international monetary system is undergoing the most profound transformation since World War II. The U.S. "GENIUS Act" attempts to maintain the dollar's status by regulating stablecoins, but it may have the opposite effect. For China, stablecoins present a historic opportunity—not to challenge the dollar's market dominance, but to dismantle the structural hegemony of the dollar. Understanding this distinction is a prerequisite for formulating the right strategy. Click to read.