Succinct is a leading decentralized prover network company that successfully raised $55 million in funding with its ZKVM technology. The company aims to simplify zk-SNARKs applications, and its core technology SP1 performs excellently in terms of performance and cost. The team has a strong background and is conducting a closed Testnet, where participants can obtain activation codes and test by completing tasks.

The U.S. tax authority is assessing a tax scheme for Crypto Assets; the Central Bank of Singapore focuses on the development of wholesale Digital Money; the Central Bank of Kyrgyzstan is drafting a regulation for encryption; OCC nominates a new director to promote banking services for encryption enterprises. In the Crypto industry, multiple trading platforms and asset management companies are launching new products while facing security challenges.

When designing the physical laws of a virtual world, it is necessary to strike a balance between complexity and computational efficiency. The passage of time can choose between synchronous or asynchronous modes, and mathematical laws can adopt either open or closed forms, while different laws can be defined based on areas. By weighing these factors, creators can maintain engagement and manageable workloads.

"Trump Phone" is not just a communication device, but a product that ties together politics, business, and emotions. It draws on the Web3 business model to attract users through value-added services and emotional identification, while potentially introducing a Token economy to build a closed ecosystem. If successful, it will usher in the era of "Political Consumerism 2.0."

Analysis of the Reasons for the Crypto Assets Market Retracement
Last week, the Crypto Assets market experienced a significant pullback. While the market generally attributes this to Federal Reserve Chairman Powell's so-called "hawkish rate cut" remarks, in reality, this may only be a minor factor. The real impact came from Trump's strong pressure, alongside Musk, on Congress regarding the short-term spending bill last Wednesday, as well as the uncertainty triggered by the threat to eliminate the debt ceiling rules, which ignited a risk-averse sentiment among funds.
Macroeconomic data does not support market panic.
Last Thursday's FOMC interest rate decision met market expectations, concluding with a 25 basis point reduction. The market attributed the decline in risk assets to two factors: first, the dot plot showed a lack of consensus among the committee members; second, the median target interest rate for 2025 was raised. However, a closer analysis of Powell's speech reveals that his concerns about inflation risks seem to stem more from the uncertainties of Trump’s policies rather than changes in certain macro indicators.

Stablecoins, as cryptocurrencies pegged to fiat currency, have become an important part of the digital asset market due to their price stability and low transaction costs. They are mainly divided into fiat-collateralized, crypto asset-collateralized, and Algorithmic Stablecoin, and are widely used in payments, Decentralized Finance, and cross-border remittances, among others. In the future, with the development of Compliance and technological innovation, the stablecoin market will become more transparent and standardized, and may complement Central Bank Digital Currency, giving rise to more financial products.

The encryption investment sector is experiencing a shift in roles between East and West, with Asian institutions facing challenges while Western giants like a16z continue to expand. The industry ecology is being reshaped, requiring a break from traditional thinking and the establishment of global public goods to enhance competitiveness. Adhering to long-termism is key to establishing a foothold in an industry filled with uncertainty.

DEX: Never truly understood
In the cryptocurrency financial system, DEX has always played a special role. It seems to be always online, never down, censorship-free, and without rug pulls, but it has long occupied a marginal position: the interface is complex, liquidity is insufficient, and it lacks narrative; it is neither the center of trending topics nor the first choice for popular projects. When DeFi exploded, it was seen as an alternative to centralized exchanges; after the bear market set in, it was positioned as "a legacy of the DeFi era that emphasizes security and self-custody." At a time when the industry is more focused on new narratives such as public chains, AI, RWA, and inscriptions, DEX seems to have lost its sense of presence.
However, in the long run, DEX has been quietly growing and starting to shake the foundational logic of on-chain finance. The popularity of Uniswap is just a node in its development journey, while projects like Curve, Balancer, Raydium, and Velodrome are its evolution.

The U.S. presidential election is about to take place, and the announcement of the election results may take a week, affecting global markets. The two candidates have significant differences in economic policies, which could lead to different market reactions, especially in terms of the impact on the Crypto Assets market. The election results will also affect the power distribution in the House of Representatives, thereby influencing the implementation of future fiscal policies, and market Fluctuation may increase.