PANews

—— A closed-loop funding system operating under the reputation of approximately 588,000 Wyoming residents
Source | U.S. MSB Daily News
Translation | USMSB Chinese
Review | Dali News
Wyoming hopes the market believes it has just invented a "secure" payment stablecoin.
What it actually launched is something much colder:
A limited recourse funding closed-loop wrapped in government jerseys, surrounded by a set of legal language that reads like a "pre-written escape route."
You can call it the Frontier Stable Token (FRNT).
You can also call it "unprecedented."
You might also call it "boring money."
But don't call it something it isn't:
Public guarantee.
Because once you strip away the patriotic narrative, this design's

Written by: Fish CoolFish
Recently, group members have been discussing three "CZ"s—namely Binance founder Zhao Changpeng, Manus Chief Operating Officer CZ Chen, and the Prince Group boss Chen Zhi, who was recently arrested and repatriated.
If Ar Bao in "Blossoms" is a glamorous transformation of 90s Shanghai under the tide of opportunity, then the following stories are three different scripts chosen by three CZs amid the wave of globalization.
Three people, three stories, spanning nearly half a century...
1. Chen Zhi and the Era of the Underworld—The Myth of Wealth in the Gray Area
In the mid-2010s, China's capital was eager to go global. This was a special moment: on one hand, China's economic strength continued to grow, foreign exchange reserves were abundant, and domestic enterprises and investment institutions increasingly sought global expansion, urgently looking for new growth points in overseas markets; on

Written by: imToken
In the past period, if you have been paying close attention to the Ethereum ecosystem, you might have experienced a sense of disconnection.
On one side, there are intense discussions about scaling solutions, Rollup architecture, Interop, ZK, PBS, Slot shortening, and other technical topics;
On the other side, there are debates around questions like "Is the Ethereum Foundation arrogant," "Why isn't it more aggressive," "Why is the coin price sluggish," and even emotional confrontations;
These discussions actually point repeatedly to the same deeper question: What kind of system does Ethereum ultimately want to become?
In fact, many disputes are not rooted in technical disagreements but stem from different understandings of Ethereum's "value premise." Therefore, only by returning to these premises can we truly understand why Ethereum has made choices that many consider "untimely" today.
1. Ethereum's "Ten-Year Itch": Ethere

Author: Jsquare Investment Team
Hyperliquid's HIP-3 upgrade introduces perpetual contract markets deployed by developers, aiming to theoretically support perpetual trading for almost any asset. This means that assets ranging from cryptocurrencies and commodities to prediction markets can all be built as perpetual contracts.
However, the design of the HIP-3 oracle introduces a critical limitation: each time the oracle updates its price, the change relative to the previous price can be at most ±1%. This "1% cap" mechanism was likely intended as a security measure to ensure smooth price movements and prevent malicious or abnormal oracle data updates.
But in practice, this mechanism severely limits support for high-speed or non-continuous pricing markets—where real prices can often experience large jumps in a very short period, even exhibiting "jump-like" changes,

Daily Market Highlights and Trend Analysis, produced by PANews.
1. Market Observation
In the first week of the New Year, the A-share market started strong, with trading volume surpassing 3 trillion yuan, marking the fifth time in A-share history that this level has been exceeded. At the same time, the Shanghai Composite Index successfully broke through 4100 points. This Friday's US December non-farm payroll report, the Supreme Court's ruling on the legality of tariffs, and Saturday's decision on tariffs for critical minerals (which will have a significant impact on Comex silver and platinum group metals prices) together constitute the main short-term uncertainties in the market. If tariffs are overturned, it could boost corporate profits, but may also pressure US debt due to concerns over the fiscal deficit.
The precious metals market is also experiencing increased volatility, with silver prices dropping in advance due to approximately $7 billion in selling pressure driven by Bloomberg Commodity Index's annual rebalancing expectations, despite Bawden Capital founder

Highlights of this Issue
The weekly coverage period for this edition spans from January 2, 2026, to January 9, 2026.
This week, the total on-chain market capitalization of RWA steadily increased to $19.8 billion, with holders surpassing 600,000; the total market cap of stablecoins slightly declined, but the monthly transfer volume surged by 29.04%, highlighting that "stock efficiency-driven" large-scale institutional settlements have become the main engine of activity, forming a structural divergence from the low activity of retail investors.
Regulatory frameworks in multiple countries continue to improve: China's central bank explicitly states that it will steadily develop digital RMB, and cross-border scenarios are continuously being implemented, with WeBank completing the first cross-border QR code payment between China and Laos; South Korea plans to require stablecoin issuers to be bank-led, and Russia is accelerating the promotion of digital ruble applications within the budget system.
Project activities are frequent: Jupiter launched the compliant reserve-backed stablecoin JupUSD, Tempo released the TIP-20 token standard designed specifically for payments. Traditional financial institutions are also actively engaging in...

Author: Lin, Trader
Compiled by: Felix, PANews
Trader Lin recently shared his trading insights, including technical analysis, risk management, psychological factors, and more, suitable for novice traders or those who frequently incur losses. Below are the details.
Follow the Trend
A strong upward trend can often bring substantial profits. You should always trade in the direction of the trend. As the old saying goes, “The trend is your friend.” This is absolutely true. Investing is a game of probabilities. Therefore, you need to maximize your chances of winning.
Buying stocks in an uptrend is like sailing with the wind; everything feels easier. The market rises faster, lasts longer, and progress becomes more effortless. When sailing with the wind, even small pushes can lead to huge gains. That’s why everyone feels like a genius during a bull market.
So, how do you identify a trend?
Identifying the direction of a trend generally

责任编辑 | Zhai Jun, Shanghai Second Intermediate People's Court
Text整理 | Li Feng, Xu Han Cheng
Page Editor | Zhou Yanyu
On November 25, 2025, the 4th "Zhizheng · Theory and Practice同行" Criminal Trial Seminar (click to view), organized by the China Criminal Law Society and the Shanghai High People's Court, co-hosted by Shanghai Second Intermediate People's Court and Renmin University Law School, was held at Shanghai Second Intermediate People's Court. This seminar focused on the theme of "Legal Uniformity in Virtual Currency Crime Cases," using the "Theory and Practice 2+2" discussion format. The content of the seminar is summarized as follows:
Topic 1: Determination of "Subjective Knowledge" in Money Laundering Crimes Involving Virtual Currencies
Case 1:
Cai held a large amount of U coins. He learned online that someone was purchasing U coins at a price 10% higher than the market price, so he contacted the buyer to sell all his U coins, making a profit of 1 million yuan. Later, it was found that the source of funds used by the buyer to purchase U coins was

The article discusses the relationship between Web3 and traditional finance, pointing out that although Web3 has revolutionary potential, traditional finance can easily enter the crypto market due to high compliance costs. The author takes the key moment of November 10, 2023, when a Bitcoin spot ETF was approved, as an example, emphasizing that compliance directly affects liquidity. In the future, crypto finance may be integrated into the traditional financial system, which is a sign of asset maturity.

Zcash Core Team Establishes New Company to Launch “cashZ” Wallet and Promote Ecosystem Expansion
Josh Swihart, a former core member of Electric Coin Company (ECC), announced that his team has left ECC and founded a new startup aimed at expanding Zcash to billions of users. The new company will launch a new wallet, “cashZ,” built on the Zashi codebase, with early access applications now open (cashz.org). Swihart emphasized that privacy should be a norm in the digital world, and Zcash needs an organizational structure with a “cyberpunk spirit” and scalable governance mechanisms to counteract large-scale surveillance trends and achieve true global adoption.
AI Data Platform Protege Completes $30 Million Series A Funding Led by a16z

Author: Nancy, PANews
It's 2026, and logically, the story of NFTs should have been over long ago.
NFTs that once sold for astronomical prices are now mostly just ignored small images; many NFT project teams are struggling to transition, sell, or shut down amidst waves of reorganization and closures; the once-top-tier event NFT Paris also recently announced its discontinuation, even falling into refund disputes.
During several consecutive years of downturn, with hot money retreating and narratives failing, "NFT is dead" seems to have become a market consensus.
However, this week in 2026, the NFT market unexpectedly shows signs of revival, with prices rising and trading volume warming up. Is NFT really making a comeback? What are the players who still remain in the scene actually playing now?
A promising start to the new year, prices surge as if from a different world

Writing by: Fish CoolFish
"There is a saying in Cambodia: if a coin falls from the sky, it must belong to the Taizi Group." Netizens in Cambodia expressed this way. This may be an exaggeration, but it is enough for us to glimpse the power of the Taizi Group in Cambodia.
However, with the heavy blows from multiple countries, this "house of cards" built on bones and fraud has collapsed suddenly.
On January 7, according to the Cambodia-China Times, Taizi Group boss Chen Zhi was arrested in Cambodia and has been deported back to China to undergo investigation by relevant authorities. This "business prodigy," who once frequented luxury car fleets, had a private jet at home, and even bought Picasso paintings for money laundering, ultimately could not escape the law's net.
Just last October, the U.S. Department of Justice accused Chen Zhi of orchestrating online scams, causing billions of dollars in losses to victims worldwide, and announced the seizure of assets worth over 140

Author: Jademont, Evan Lu, Waterdrip Capital
The New Industrial Revolution: Computing Power as the Engine of Economic Operation
>
> "In this world, only a few people can inadvertently usher in an era that changes human history, like Edwin Drake... His drill bit, penetrating deep into the ground, not only touched black liquid but also the arteries of modern industrial civilization."
>
>
>
In 1859, amidst the mud in Pennsylvania, people gathered around Colonel Drake (Edwin Drake) and burst into laughter. At that time, the world still relied on increasingly scarce whale oil for lighting, but Drake was convinced that underground "rock oil" could be mined on a large scale. This was considered a madman's delusion at the time. Until the first gush of black liquid erupted, no one could have imagined that the emergence of oil would not only

Writing: Curry, Deep Tide TechFlow
There is a rule at the Shandong drinking table: when serving fish, the fish head must face the main seat.
Who it faces, that person is the main character and must be the first to drink. This isn’t written explicitly anywhere, but all Shandong people know it. No one teaches it; they just learn it themselves.
Recently, someone made a diagram called "Crypto Circle Shandong Learning." A group of people sit around eating fish, with He Yi sitting in the main seat, while KOLs, coin listing groups, and editors sit on both sides.
Caption: When Binance lists a coin, which way should the fish head face? He Yi.
On January 1st, He Yi posted a New Year tweet. Riding a white horse, walking along the seaside, with four words:
I’ve come riding my horse.
A pretty good New Year’s blessing—"riding my horse," referring to the Year of the Horse, with a playful pun.
Today, Binance Alpha listed a new coin called "I’ve Come Riding My Horse." It was made by the community and has no direct relation to He Yi.
But look at this chain: the top influencer posts a tweet, the community issues a coin, and Alpha lists it.

Today's News Highlights:
Prince Group founder Chen Zhi is deported back to China, suspected of operating illegal casinos, fraud, and other crimes
The U.S. Senate Banking Committee schedules the review of the Crypto Market Structure Act for January 15
Rumble and Tether jointly launch the non-custodial crypto wallet Rumble Wallet
Decentralized protocol Babylon completes $15 million funding round, led by a16z Crypto
Fireblocks acquires crypto accounting platform TRES Finance for $130 million
Solana