Analysis: Paradigm May Hold HYPE Worth Approximately $765.4 Million
According to @mlmabc's monitoring, Paradigm may hold 19,134,900.46 HYPE tokens, valued at approximately $765.4 million, with an estimated average cost of $16.46, and a total cost of about $315 million, resulting in an unrealized gain of around $450 million. Although Paradigm has never disclosed its address, @mlmabc believes that Paradigm initially purchased HYPE through FalconX, and then bought more HYPE through Wintermute after November, marking these wallets as potentially belonging to Paradigm through large HYPE withdrawals via FalconX, as well as timing and structural characteristics.
[The rest of the translation follows the same professional and accurate approach, maintaining the original meaning while translating into clear English.]According to Caixin, sources close to stablecoin license applicants in Hong Kong said that with regulatory details in place, the stablecoin fever will cool down. Especially for non-financial institutions applying primarily for cross-border payments, they may voluntarily withdraw from early-stage participation due to difficulties in meeting the regulatory requirement of "verifying the identity of each token holder". This means that previously popular internet platforms like JD.com and Ant Group may find it challenging to appear on the first batch of license lists. Additionally, CITIC Group, through its Hong Kong subsidiary Bank of Communications International, has joined with some institutions to apply for the first batch of stablecoin licenses. Industry insiders suggest that Bank of China Hong Kong, as one of the three major note-issuing banks in Hong Kong, would have inherent advantages if it issues stablecoins, which could also reassure regulators from both regions.
Michael Saylor: Bitcoin is a Trading Asset in the Short Term, a Treasury Asset in the Long Term
Strategy (formerly MicroStrategy) Executive Chairman Michael Saylor posted on X platform: In the short term, Bitcoin is a trading asset. But in the long term, it will be a treasury asset. Bitcoin is a network of great bees serving the wise goddess, feeding on the fire of truth, growing exponentially behind the crypto energy wall, becoming increasingly intelligent, faster, and more powerful.
According to Caixin, an insider during a stablecoin-related interview stated that China currently lacks a globally influential public chain. Another insider suggested that the national-level main public chain should be led by state-owned enterprises, while industry-level public chain construction could be open to market competition. An insider emphasized that public chains are the infrastructure for stablecoin issuance, and are crucial and indispensable for building an autonomous, controllable, safe, and efficient financial infrastructure system in the digital financial era. A policy-familiar source noted that stablecoins must be issued on public chains, but the current issue is that neither Hong Kong nor mainland China has a globally influential public chain. Using US public chains could potentially face political risks in US-China confrontations and risk being "stuck". The next step is to strengthen investment in public blockchains, ensure autonomy, and build in layers - with national-level main public chains led by state-owned enterprises, industry-level public chains open to market competition, and scene-level public chains fully market-driven, as another insider recommended.
