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Written by: Maitong MSX Researcher The past cannot be changed, but the future can still be shaped.

2025 has passed in the blink of an eye. This year, the global financial market underwent round after round of extreme stress tests: geopolitical fluctuations, volatile macroeconomic expectations, fading narratives, and liquidity divergence occurred intermittently. Meanwhile, tokenization quietly accelerated, driven by compliance and infrastructure development.

It can be said that from TradFi to Web3, two previously parallel forces are converging at an unprecedented speed, aiming at the on-chain and programmable nature of various financial assets.

To restore the market's "sentiment"...

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The cryptocurrency market has been abuzz in recent days with serious internal news at Zcash, as CEO Josh Swihart confirmed that he and the entire core development team have resigned en masse...