Industry Reports

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Crypto platform Gemini has cut its workforce by 30% in 2026, citing a transformative integration of artificial intelligence (AI) that enables employees to achieve a “100x” productivity impact. The Rise of the ‘100x’ Worker Crypto platform Gemini has reduced its workforce by approximately 30%

The essay discusses the recent entry of large companies and ETFs into the tokenized securities market, highlighting growth driven by regulatory support and increasing institutional demand, with Ondo Global Markets managing over 250 tokenized instruments valued at nearly $2.6 billion.

Security firm BlockSec has re-evaluated the AI-powered smart contract audit assessment benchmark called EVMBench, which was developed by OpenAI and Paradigm. The results show that AI bots are significantly less effective when faced with real-world exploit scenarios. The research team has expanded the environment

Kalshi has raised over $1 billion, increasing its valuation to $22 billion in just three months, signaling strong investor confidence despite regulatory challenges. Hyper-Growth in the ‘ Oracle Economy’ The U.S.-regulated prediction market, Kalshi, has reportedly raised more than $1 billion in a

Circle Completes IPO, Jeremy Allaire Emphasizes Stablecoins Still in Early Stage, Targeting to Build Digital Dollar Network Infrastructure and Next-Generation Financial Platform. Editor's Note: In 2025, stablecoin issuer Circle completed its IPO, becoming one of the most closely watched listing cases in the crypto industry in recent years. As the issuer of USDC, Circle is attempting to promote stablecoins from a trading tool in the crypto market to a digital dollar infrastructure capable of circulating in networks. In "The David

Solana Foundation Chair Lily Liu claimed on X platform that "blockchain gaming won't come back," sparking heated discussion in the GameFi circle. The market value of crypto games plummeted from a 2022 peak of $35 billion to $4.5 billion, a decline of 87%. She pointed out that games prioritizing earning mechanisms over gameplay itself caused the market to gradually shrink, while responses within Solana vary, with some projects still adjusting to seek survival.

BitFuFu (NASDAQ: FUFU) announced its 2025 financial report on March 20, with total revenue of $475.8 million, an increase of 2.7% year-over-year. Although cloud mining business grew, the company reported a net loss of $57.4 million due to digital asset losses and rising mining costs, sharply contrasting with the net profit of the previous year. Revenue from self-operated mining dropped significantly to $6.31 million.

The Ethereum Foundation emphasized "Harden the L1" as a core priority in its 2026 update, ensuring censorship resistance, privacy, and security are maintained while scaling. Led by three members, it covers technical improvements and user protection work, emphasizing the continuity and resilience of core attributes to meet user needs.

The crypto market has declined, with a total capitalization of $2.42T and a 24-hour volume drop of 6.08%. Bitcoin and Ethereum saw minor decreases, while notable gainers included $BPX and $PENGU. DeFi TVL fell by 1.56%, and NFT sales dropped 14.62%. Morgan Stanley updated its Bitcoin ETF filing, while Gemini faces a lawsuit for misleading investors.

The World Gold Council and Boston Consulting Group have jointly launched the "Gold-as-a-Service" white paper, aimed at establishing a unified open platform framework that connects physical gold with tokenized products to enhance gold's usability and transaction convenience in the financial system. This framework features six key functionalities including standardized issuance, high transparency, and improved liquidity, and is expected to accelerate institutional investors' entry into the tokenized gold market.

The World Gold Council and Boston Consulting Group released a white paper proposing a "Gold as a Service" framework aimed at standardizing the issuance and management of tokenized gold, challenging the existing market dominated by Paxos and Tether. The framework will lower barriers to entry and encourage greater institutional participation. However, implementation timelines and specific plans remain unclear, and whether the WGC's brand influence can shake up the existing market remains to be seen.

Amundi launches SAFO tokenized fund, combining Ethereum, Stellar, and Chainlink, focusing on corporate liquidity and collateral management. The fund starts with $100 million in capital, offering multiple currencies, and emphasizing real-time settlement and transparency. As the RWA market expands rapidly, Amundi's move marks tokenized finance gradually becoming mainstream, with enterprises incorporating blockchain into financial operations.

Pi Network announced the launch of its Pi Launchpad testnet, focusing on token user acquisition and product utility. The three core design principles are: tokens serve user acquisition purposes, rewards flow into liquidity pools, and projects must have executable products. The platform enables project teams to promote innovation, while pioneer users can participate in testing and earn tokens, creating positive feedback. This design helps build a healthy decentralized exchange ecosystem and avoid speculative token issues.

Mega Bank's field test report shows that stablecoins outperform traditional banks in small remittances, with faster settlement and lower costs; however, traditional banks still have clear advantages in large corporate transfers and compliance. Chairman Tung Jui-pin emphasized that the two should be complementary rather than replace each other. The widespread adoption of stablecoins faces regulatory challenges.

Ripple expanded payments in Brazil with banks using its network for cross-border and FX transactions. The company launched custody and tokenization services, supporting billions in on-chain asset issuance. Ripple plans a VASP license as RLUSD adoption grows across Brazilian exchanges and

A Cointelegraph Research survey reveals that 75% of venture capital funds plan to maintain or increase their cryptocurrency investments by 2026, reflecting a dominant trend toward holding rather than withdrawing.

China's Guoxing Aerospace and Shanghai Jiao Tong University have successfully collaborated to demonstrate remote intelligent control of humanoid robots on the ground using the open-source AI agent OpenClaw in space. This technology validation marks the first practical application of space computing power and signals that it will become fundamental infrastructure for AI computing in the future, particularly in scenarios where ground networks are limited. Guoxing Aerospace plans to build a computing network that includes 2400 inference satellites by 2035.

Moody's Launches Token Integration Engine, Becoming the First Institution to Bring Credit Rating Data to Blockchain, Enhancing Transparency and Efficiency in Digital Finance. Simultaneously Released Stablecoin Rating Methodology, Focusing on Reserve Asset Quality, to Achieve Diversified Credit Ratings and Strengthen Market Trust.

A coalition comprised of more than 20 decentralized finance organizations has released an open letter calling on American universities to strengthen DeFi-related curricula to meet growing market demand. The 1inch Forward movement has gained support from multiple institutions and will launch a campus tour starting March 27th at the University of Pennsylvania, aiming to enhance students' professional capabilities through internship opportunities and reduce operational risks in the industry.

While gaming and art were the main focus of blockchain for a while, the world of sports has been quietly adopting it. Today, we are already at a stage where Web3 sports ecosystems are being built and decentralized infrastructure is becoming foundational for fan engagement This transition is a

Bitcoin rebounded during Middle East conflict, with MicroStrategy successfully attracting capital through its preferred stock STRC, cumulatively increasing its holdings by over 40,000 bitcoins. STRC, serving as a stable yield instrument, has become a new financing channel for MicroStrategy, driving its market performance and liquidity. While this model faces high dividend pressure and requires continuous yield improvements to maintain appeal, STRC has effectively connected traditional capital with bitcoin demand, opening up a new financing model.

Vietnam currently has five companies vying for the first batch of compliant cryptocurrency exchange licenses, including major banks and large enterprises. Regulatory authorities plan to ban citizens from using overseas exchanges and are beginning to draft tax schemes that treat crypto trading as formally regulated assets. Vietnam is concerned about capital outflows, and crypto startups that fail to meet standards are excluded, with regulators favoring traditional financial institutions.

Just yesterday, Tally, a well-known governance platform that has served over 500 DAOs including Uniswap, Arbitrum, and ENS, officially announced it would cease operations. Since Q1 2026, more than 20 projects have announced closures, pivots, or bankruptcies. Facing liquidity exhaustion, cost pressures, and shifts in narrative, the industry is experiencing a brutal reshuffle, with DeFi, blockchain gaming, and NFTs being the hardest hit!

Global cryptocurrency exchange Gate announced the official launch of its new Gate Card, a crypto payment product featuring up to 5% cashback, a dual-track tier upgrade system, and elevated spending limits of up to $500,000 per transaction.

Cryptocurrency governance tool Tally announced its closure on March 17 after operating for over five years. Tally had provided governance infrastructure for multiple Ethereum protocols, handling over $1 billion in transactions. The shutdown was attributed to poor market timing and failure to fulfill token promises, reflecting the commercialization challenges of DAO governance tools. Despite these challenges, the DAO concept continues to evolve, with future development potentially shifting toward diversified infrastructure construction.

BlackRock's launch of the Ethereum staking ETF "iShares Staked Ethereum Trust" marks Ethereum staking as a mainstream investment option. The ETF stakes the majority of its assets and regularly distributes yields to investors, validating the legitimacy of staking rewards and driving institutional capital flows into the ETH ecosystem. Additionally, this product enables non-crypto users to easily access network yields, transforming Ethereum's asset pricing logic and positioning it as a "yield machine" with continuous cash flows.

Renowned investor Stanley Druckenmiller recently stated that stablecoins will become the core of the global payment system in the future, predicting that they will dominate financial markets within 10 to 15 years. The stablecoin market cap has surpassed $315 billion, demonstrating accelerated institutional adoption. Following the passage of the U.S. "GENIUS Act," which provides a regulatory framework for stablecoins, they are advancing toward mainstream financial infrastructure, while Hong Kong is also preparing to issue licenses. Druckenmiller remains cautious about the overall cryptocurrency market but believes stablecoins have practical use value.

Well-known cryptocurrency broker BlockFills suspended customer withdrawals in February due to the cryptocurrency market crash and filed for Chapter 11 reorganization with the Delaware bankruptcy court. The company's liabilities range between $100 million and $500 million, with major creditors including SBI VC Trade and Nexo Capital. BlockFills hopes to preserve enterprise value and enhance stakeholder returns through supervised reorganization.

Prominent cryptocurrency market research platform Messari announced CEO Eric Turner's resignation, with Chief Technology Officer Diran Li taking over. The company is conducting layoffs to accelerate its transformation into an AI-first research platform. The layoffs accompany leadership changes aimed at focusing on serving institutional clients. The market continues to monitor Messari's future performance as it transitions to AI-driven services.

According to the latest data from Santiment, several privacy-focused crypto projects, including Chainlink, Aztec, and Dash, are leading in development activity, indicative of long-term commitment and technological progress.

Hyperliquid, as a leading Perp DEX, is rapidly rising and attracting whale players, with massive trading volume and users exceeding 1.729 million. However, facing the rapid development of on-chain finance, compliance and regulatory challenges are becoming increasingly prominent. Hyperliquid has established a policy center to address these issues and seek legitimate status in mainstream finance.

Hong Kong regulators received 36 stablecoin license applications but plan to approve only a few issuers. HSBC and Standard Chartered are expected among the first licensed HKD stablecoin issuers. The licensing framework builds on a sandbox program launched in 2024 to test stablecoin

Renowned investor Stanley Druckenmiller recently stated that stablecoins will become the core of the global payment system in the future, predicting that they will dominate financial markets within 10 to 15 years. The stablecoin market cap has surpassed $315 billion, demonstrating accelerated institutional adoption. Following the passage of the U.S. "GENIUS Act," which provides a regulatory framework for stablecoins, they are advancing toward mainstream financial infrastructure, while Hong Kong is also preparing to issue licenses. Druckenmiller remains cautious about the overall cryptocurrency market but believes stablecoins have practical use value.

Wall Street's Bernstein report views MicroStrategy as the "last Bitcoin central bank," noting that its coin hoarding and innovative financing structures have significantly reshaped the Bitcoin market, reducing reliance on retail investors. Institutions now hold 14% of Bitcoin supply, enhancing the capital base and market resilience. Additionally, MicroStrategy has further strengthened its Bitcoin buying power through financing products designed to attract yield-focused investors.

President Trump's comments have profound impacts on the stock market. Taiwan entrepreneur TK Lin launched the "Trump Code" project, which utilizes big data and machine learning to analyze the correlations between his tweets and market movements, successfully establishing an effective trading signal system. The current accuracy rate is 61.3%, with the project open-sourced on GitHub and supporting integration with trading bots.

The DeFi market entered an "interest rate winter" since September 2025, with deposit rates for major stablecoins declining sharply and supply-demand imbalances causing liquidity congestion. The rate decline reflects reduced capital demand and a lack of high-return opportunities. Stablecoin lending demand has dropped significantly, with market risk appetite shifting toward more stable investment channels. In response to this situation, the Sky protocol demonstrates competitiveness and adaptability by introducing real-world assets to enhance yields. The low interest rates during this phase can be viewed as an opportunity for DeFi market transformation.

DeFi lending protocols in the cryptocurrency sector have experienced a sharp decline, with the total market value decreasing by approximately 45 billion USD since October last year. According to data from Artemis, the total amount of deposits on these platforms has decreased by 36%, from a peak of 125 billion USD in October to just 79 billion USD.

The crypto market is recovering, with a market cap of $2.52T and a 3.23% increase. Bitcoin and Ethereum rose by 3.20% and 7.28%, respectively. Other gains include D ($D) at 728.37%. DeFi TVL and NFT sales also increased, while the Australian Senate supports a crypto regulatory framework.

Institutional crypto trading and lending firm BlockFills has filed for Chapter 11 bankruptcy protection in the United States, marking the latest setback for the digital asset lending sector after weeks of operational turmoil. In a statement shared on X on March 16, the company said that after

Chicago-based cryptocurrency trading company BlockFills and its parent company Reliz Ltd. recently filed for Chapter 11 bankruptcy protection with U.S. courts due to ongoing financial difficulties and liquidity issues. The company's assets are estimated between $50 million and $100 million, while liabilities reach $500 million, indicating severe financial pressure. The company previously suspended customer deposit and withdrawal services due to liquidity shortages and faced court-imposed asset restrictions due to litigation over misappropriation of funds. The bankruptcy filing aims to reorganize cash flows and maintain transparency. This incident highlights structural vulnerabilities in the cryptocurrency lending market.

The Australian Securities and Investments Commission investigation shows that 23% of Gen Z hold cryptocurrency, and 64% trust AI platforms as sources of financial information. Despite their widespread reliance on social media for financial knowledge, they may face unrealistic investment expectations and fraud risks. ASIC is strengthening regulation of these emerging financial channels.

The article discusses Ethereum's "new cypherpunk" philosophy, emphasizing privacy, censorship resistance, open source, and security, which reflects that blockchain's original intent was not merely financial speculation but also safeguarding individual digital rights. As technology advances and user needs evolve, privacy technology may become a new core narrative in the crypto industry, driving cultural evolution in the Web3 era.

On March 15, Aave and CoW Swap released different analysis reports regarding last week's swap disaster, with disagreements on responsibility attribution and problem assessment. Aave emphasized that users confirmed transactions despite warnings, while CoW Swap pointed to systemic failures. Neither report detailed the profit issues of MEV bots, reflecting the controversy over responsibility attribution. Future collaboration terms still require community discussion, and Aave has introduced new features to prevent similar losses.

Ethereum co-founder Vitalik Buterin proposed a layer consolidation plan aimed at merging the code structure of the Beacon Chain and the execution layer to reduce the technical complexity of running nodes, enabling ordinary users to independently manage Ethereum infrastructure. This initiative aims to address the decentralization risks of relying on a small number of RPC service providers and lower the threshold for running nodes, thereby realizing Ethereum's censorship resistance vision.

Mizuho Financial Group research shows that USDC's adjusted trading volume will reach $2.2 trillion in 2026, surpassing USDT's $1.3 trillion for the first time, demonstrating its growth in the stablecoin market. USDC performs better in regulated markets, while USDT maintains dominance in emerging markets, reflecting geographic differentiation in the stablecoin market. This phenomenon is closely related to the different regulatory strategies adopted by both.

Status: No verified approval for 70 million USDS allocation No verified governance approval is documented for a “70 million USDS” allocation to the Sky Agent Network. Formal approvals in this ecosystem require a posted proposal, a recorded vote, and traceable on-chain disbursements, none of