PANews

On-chain lending is transforming into a capital allocation infrastructure and has become an important part of the DeFi ecosystem, with a TVL of approximately $64.3 billion. Aave holds a dominant position but faces challenges such as liquidity and credit risk. With the introduction of compliant assets like RWA, on-chain lending is expected to accelerate its integration into the global capital markets.

NVIDIA invests $2 billion in CoreWeave, marking a shift of crypto computing power towards the AI field. CoreWeave leverages its underlying GPU resources to promote the reuse and enhancement of global computing power, attracting capital inflows and reshaping the value logic of crypto computing power. This transaction lays the foundation for the integration of the crypto and AI industries and may bring new applications and risks in the future.

Author: Yuan Shan Dong Jian
- In late January, the Ministry of Finance officially launched the pilot work for cryptocurrency exchange platform licenses.
- The 10 trillion VND (nearly 300 million RMB) entry threshold directly filters out small and medium players, with domestic financial giants entering the market.
- Establishing a new geopolitical division of labor of "Dubai compliance, Vietnam development," aiming to become the "core OEM factory" in the Web3 world.
The Davos Forum just concluded, with BlackRock CEO claiming "the financial system should migrate to Ethereum," and the NYSE announcing the development of a tokenized securities platform.
Meanwhile, Vietnam's Ministry of Finance has launched a crypto license pilot, with a 10 trillion VND (nearly 300 million RMB) entry threshold, directly blocking small exchanges.
Traditional finance embraces Web3, and emerging markets in Southeast Asia set up compliance thresholds. Do they want to become the next Hong Kong or the next Singapore?
【 01 | What happened 】
In late January, the Ministry of Finance of Vietnam officially launched the crypto license pilot.

Author: Denise I Biteye Content Team, Bbo I XHunt Operations Team
Recently, I saw on X that everyone is using Clawdbot with AI agents to do all kinds of tasks. I suddenly felt that liberal arts students can also play with code using a "vibe" approach, so I started this zero-base practical project.
Vibe

Author: Eli5DeF
Compilation: Yuliya, PANews
Driven by a "perfect storm" of supply scarcity, the booming infrastructure of artificial intelligence(AI), and central banks worldwide distancing from the US dollar, gold, silver, and copper are experiencing their hottest market since 1979.
This article will analyze over 40 research reports, distill key insights, and explore their future trends.
TL;DR
Data perspective: Since 2025, gold prices have increased by 72%, silver by 120%, and copper by 40%. This is the first time in 45 years that all three have simultaneously hit record highs.
Core argument: This is not a cyclical rebound but a fundamental shift in the valuation logic of hard assets(hard assets) on a global scale.
Investment opportunity: In 2025, the return on silver mining ETFs reached as high as 195%, and this round of trading has yet to

Author: Go2Mars Web3 Research
This article aims to provide an analytical framework to help understand: the current "value return" is not a helpless end to the bear market, but a necessary pain before the birth of the next generation of trusted financial infrastructure.
Over the past two years, the crypto industry has experienced Bitcoin shifting from a speculative asset and cycle indicator, to a liquidity pool during monetary easing, and now to a non-sovereign macro anchor asset and strategic reserve option; stablecoins have also evolved from a medium for crypto speculation to a healthy on-chain USD that facilitates cross-border on-chain payments and settlements, providing the world with a low-threshold channel to access USD.
In stark contrast, the altcoin market has seen the vast majority of crypto projects disprove themselves so far, with some projects' former glory unlikely to reoccur. More broadly, many projects have perished during their preparation phase due to the industry's bleak outlook.
As liquidity tides recede, investment

Author: Pi Squared
Compiled by: Felix, PANews
Summary: Missing "dumb money," persistent arbitrage, rampant bots, feedback loops, fake news, insider trading, and low liquidity in niche markets.
Prediction markets are increasingly reshaping the way the public thinks about the future. From predicting election outcomes, inflation rates, to product launches and major sporting events, they offer a simple yet powerful concept: invest funds in beliefs and let the market reveal what is most likely to happen.
This approach has proven to be surprisingly effective. In many cases, the performance of prediction markets is comparable to, or even better than, traditional polls and expert forecasts. By allowing individuals with different information, motivations, and perspectives to trade on the same issue, these markets aggregate dispersed knowledge into a single signal: the price. It is generally believed that a contract trading at $0.7 indicates that the event has a chance of occurring.

Original Author: Mankun Brand Department
"In Guangdong, especially in Shenzhen, some seemingly ordinary part-time jobs are mass-producing criminal suspects." This is a recent warning posted by Lawyer Deng Xiaoyu, a partner at Mankun (Shenzhen) Law Firm, on the Xiaohongshu platform. In his post, he pointed out that these types of part-time jobs under the guise of "cash for cryptocurrency" and "offline currency exchange errands" have formed a highly procedural "hunting mechanism," and those most targeted are often young people with high education levels and insufficient risk awareness.
In these tasks, part-timers usually only need to follow instructions to convert funds into Hong Kong dollars and then go to designated OTC cryptocurrency exchange shops to complete the transaction. What seems like a simple "errand" actually completes a crucial step in money laundering—"human border crossing"—without awareness. Once the funds are deemed illegal gains, participants may be directly exposed to criminal risks.
Lawyer Deng Xiaoyu believes

Stock perpetual contracts combine the characteristics of traditional stocks and perpetual contracts, allowing users to participate in trading without holding the underlying stocks. Its market potential is enormous, gradually driving the crypto trading market towards "full asset perpetualization." Although the outlook is optimistic, regulatory uncertainties and compliance risks need to be taken seriously. This article will delve into the mechanisms of stock perpetuals, market structure, and future development trends.

The article discusses the changes in the DeFi era, pointing out that low Gas fees have turned retail investors into on-chain laborers, and project teams arbitrarily modify rules, putting retail investors in a passive position. High APY lock-up strategies deceive users, with risk and reward severely mismatched. The conclusion is that DeFi has lost its appeal, and retail investors are advised to protect their principal and choose more valuable investment methods.

Author: Max.s
After experiencing intense volatility in 2024 and profound reshuffling in 2025, the quantitative finance industry is standing at a new crossroads. At the 2025/2026 China Quantitative Investment Cross-Year Summit held last week, Dr. He Kang, Chief Strategist and Chief Financial Engineer at Huatai Securities Research Institute, delivered an in-depth speech titled "2025 Trends and 2026 Outlook for the Quantitative Industry." This is not only a strategic report on the A-share market but also a battlefield manual on how Alpha can find new survival spaces in an increasingly crowded market.
For practitioners at the intersection of Web3 and traditional finance, this report sends a clear signal: traditional Alpha is waning, and new paradigms — whether it is the "Order as Token" based on large models or alternative assets represented by cryptocurrencies — are emerging.

Tom Lee pointed out during a CNBC live broadcast that metal assets are being reclassified by the market as a "tangible" asset class, and mentioned that multiple factors are driving metal prices higher. These factors include geopolitical uncertainties, weakening currencies, and central banks' continued purchases, which could have a positive impact on the stock market.

Author: Guo Xiaojing, Tencent Technology
Editor | Xu Qingyang
Top AI models in the world can pass medical licensing exams, write complex code, and even beat human experts in math competitions, but they repeatedly struggle in a children's game called "Pokémon."
This eye-catching attempt began in February 2025, when a researcher from Anthropic launched a Twitch live stream titled “Claude Plays Pokémon Red,” to coincide with the release of Claude Sonnet 3.7.
2,000 viewers flooded into the live stream. In the public chat, viewers brainstormed and cheered for Claude, gradually transforming the broadcast into a public observation of AI capabilities.
Sonnet 3.7 can only be described as “playing” Pokémon, but “playing” does not mean “winning.” It gets stuck for dozens of hours at critical points.

According to a report by Sina Finance on January 20, Greenland Financial Technology Co., Ltd. officially launched the country's first digital asset linked to carbon credits on that day. The public offering portion was sold out in just ten minutes after opening. This rapid sale has caused a ripple in the intersection of green finance and digital assets.
This issuance is regarded by industry insiders as a key experiment of “RWA (Real World Assets) + Consumption Scenario”: it disassembles the originally high-threshold carbon credits into digital rights worth 88 yuan each, and links them with hotel consumption discounts to the public market. The market’s enthusiasm for “ten minutes” votes has recognized the potential of this model to reach ordinary consumers.
However, cheers and doubts often come hand in hand. Can the scarcity of 500 limited units support large-scale expansion? In the hybrid design of “carbon assets + consumption coupons,” which end truly motivates users to buy? Against the backdrop of an immature compliant circulation mechanism

Author: Jianwei Zhi Zhu Zazhi
Recently, I was recommended a few small metal stocks, and looking back, I can only say they are really worth it. We shouldn't wait until we're caught in a situation to start researching; instead, we should do our research beforehand. So, I am launching a new series: Metal Mineral Research, to take a look at the landscape of various small metals.
Sometimes, I find short articles quite interesting. For example, a few days ago, I mentioned that the import of explosives in Myanmar's Wa State increased, and immediately the price of tin dropped a bit. This hints at a potential supply logic.
【Reminder: Fundamentals are just fundamentals, not to guide trading】
Small metals are not necessarily small, especially in the context of industrial transformation. Once there is a technological breakthrough, small metals can very likely become strategic metals.
For example, before becoming an "energy metal," the market size of lithium was not large, mainly used in glass ceramics, lubricants, and other fields. But with the explosive growth of new energy vehicles and energy storage industries, lithium as a power battery material...

Written by: DaiDai, Maitong MSX
Organized by: Frank, Maitong MSX
2025 will be a truly life-and-death year for Intel.
Compared to Nvidia, which is dancing at the center of the AI stage, Intel (INTC.M) seems more like a foot wandering in the