The future of finance belongs to on-chain, and tokenized deposits and stablecoins are the necessary infrastructure to achieve this goal.

This Thursday (Beijing time), the Federal Reserve will announce its final interest rate decision of the year.

Wang Yongli's explanation is an important reminder, but the Chinese story about stablecoins may require a broader narrative.

The market is almost certain that the Federal Reserve will cut interest rates again this week. However, what truly matters may not be the interest rate itself. The key question is how the Fed will manage its massive balance sheet after halting its balance sheet reduction efforts, and whether this will inject new liquidity into the market.

Zhao Binghao, Dean of the Institute of Financial Technology and Law at China University of Political Science and Law, pointed out that the central bank's explicit classification of stablecoins as virtual currencies does not mean that stablecoins are "contraband" in the sense of criminal law.

South Africa’s central bank has announced that it will be retreat from the retail CBDC race-at least for now. In a paper released on Thursday, the South African Reserve Bank (SARB) said that there is currently no immediate need for a central bank digital currency, despite it being technically feasible.

Stablecoins, DeFi, liquidity mining, Ethena, GENIUS, stablecoins are not "stable" - Golden Finance, frequent defaults, regulatory iron curtain descends, USD code updated.

Following the collapse of Stream Finance's xUSD, Elixir's deUSD and numerous other synthetic stablecoins also suffered losses, which is by no means an isolated incident caused by mismanagement.

Han Feng discussed the differences between this round of crypto cycle and previous ones, which sector's crypto narrative will see a breakthrough in the future, discussed market trends, and introduced the Bitcoin stablecoin BTCD.

Cryptocurrency, stablecoins, DeFi, AI agents, the supercycle has arrived, but not as you expect. Golden Finance: The supercycle hasn't died out; it's just been misunderstood.