A few recent events in the crypto space are worth paying attention to:

Something big happened at Huiwang—they’re offering a $50,000 USDT bounty to find program vulnerabilities, and the entire gray industry chain is falling apart. Musk has started tweeting again, this time about Bitcoin. His core point is very straightforward: energy cost is the real value anchor of BTC.

USDT’s situation is honestly quite delicate right now, like walking a tightrope. Both regulatory pressure and market trust are at a tipping point. ENA is having an even tougher time—its TVL has been slashed in half, and this round of DeFi adjustments has come on strong.

There are rumors of HashKey planning an IPO, but whether it happens depends on compliance progress and the market window. IOSG recently issued a warning, saying the prediction market is extremely risky and advising everyone not to blindly follow the trend.

Dayu wrote a special memo analyzing the chain reactions after Musk hyped up ZEC, breaking down everything from capital flows to community sentiment in great detail.