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Tracks company news, strategic changes, funding activities, and personnel adjustments across the blockchain and crypto industries, delivering a full-spectrum industry overview for our users.

A 'Headhunting Scheme' Disguised as a Beauty Pageant: How Huobi HTX Uses 'Her Power' to Reshape Its Ecosystem's Soft Power?

Summarizing the provided Chinese article about the HTX "First Lady" competition into a concise English abstract. **Abstract:** Beyond the Beauty Pageant: How HTX is Leveraging "Her Power" to Reshape Its Ecosystem In the crypto world, female leaders like Binance's He Yi, Bitget's Gracy Chen, and HTX's own Molly have proven to be pivotal forces. Against this backdrop, HTX's third "First Lady" competition has concluded, revealing itself to be far more than a traditional beauty contest. It functions as a strategic talent pipeline and "headhunting operation" for the exchange. Five winners were directly offered roles within the HTX ecosystem, moving from contestants to core builders. Their recent "debut" showcased their focus on solving real Web3 challenges: improving UX, community culture, and bridging cultural gaps. Their newly defined roles are highly practical: * **PP (Champion):** Ambassador for SunX, acting as a dedicated point of contact to simplify complex concepts for users. * **Olivia (Top 4):** HTX DAO Community Culture Ambassador, fostering engagement and breaking down barriers between the official platform and its users. * **Gun Gun:** Key Account Manager, providing warm, professional service and asset advice. * **Yiyi (Runner-up):** Cultural Ambassador, acting as a bilingual bridge between Chinese and global communities. * **Saki (Creativity Award):** Crypto Culture Ambassador, using creative content to make crypto more accessible. This initiative is validated by the "hardcore" career growth of past winners, who have evolved into essential roles such as official hosts, business development managers, and DAO philanthropy ambassadors, demonstrating a successful long-term strategy of converting visibility into value. Ultimately, HTX is redefining the role of women in Web3—from being seen to being indispensable builders. The program dismantles stereotypes, proving that "her power" is a crucial, resilient soft asset for the ecosystem.

深潮12/09 06:47

A 'Headhunting Scheme' Disguised as a Beauty Pageant: How Huobi HTX Uses 'Her Power' to Reshape Its Ecosystem's Soft Power?

深潮12/09 06:47

Valuation of $1 Billion, After Five Years of Exploration, Why Did It "Admit Defeat"?

Farcaster, a once-promising decentralized social protocol that raised $180 million and reached a near-$1 billion valuation, has officially pivoted away from its Web3 social networking strategy after 4.5 years of effort. Co-founder Dan Romero announced the shift toward a wallet-first approach, acknowledging that the original vision of a decentralized Twitter alternative did not achieve product-market fit. Despite initial excitement and growth—with monthly active users (MAU) briefly surging to around 80,000 in mid-2024—Farcaster failed to break out beyond the crypto-native user base. Its MAU later declined to under 20,000 by late 2025, revealing structural challenges: high onboarding barriers, highly insular content, and an inability to compete with established platforms like X or Instagram. The protocol’s wallet feature, initially introduced as a supplementary tool, demonstrated stronger retention and usage patterns, leading the team to refocus on wallet-based growth. The recent acquisition of token launch tool Clanker further signals this strategic turn toward financial utility rather than social interaction. The shift has sparked community debate, with long-time users expressing concern over the platform’s cultural change from social networking to transaction-oriented interactions. Nonetheless, Farcaster’s move underscores a broader realization in Web3: that social needs may not be the primary entry point for users, whereas practical tools like wallets offer clearer paths to adoption and value.

marsbit12/09 05:02

Valuation of $1 Billion, After Five Years of Exploration, Why Did It "Admit Defeat"?

marsbit12/09 05:02

Polymarket trading figures are being ‘double-counted ’: Paradigm

According to a Paradigm researcher, reported trading activity and volume on the prediction market platform Polymarket have been significantly inflated due to a data bug causing double-counting. The issue stems from Polymarket's complex onchain data, which emits redundant "OrderFilled" events for both makers and takers in a single trade. Major dashboards, including DefiLlama and Dune Analytics, mistakenly counted these as separate trades. This error impacts both notional and cashflow volume metrics. The discovery raises questions about Polymarket's recently reported success, including a $9 billion valuation from ICE based on potentially overstated volume figures. The researcher calls for more consistent and transparent reporting standards as prediction markets mature.

cointelegraph12/09 04:06

Polymarket trading figures are being ‘double-counted ’: Paradigm

cointelegraph12/09 04:06

After a Valuation of $1 Billion and Five Years of Exploration, Why Did It 'Admit Defeat'?

After five years of development and raising $180 million at a near $1 billion valuation, Farcaster has officially conceded that its Web3 social strategy did not succeed. The platform, initially designed as a decentralized alternative to Twitter, aimed to address issues like platform monopoly, user data ownership, and creator monetization through an on-chain, protocol-based approach. Despite a brief surge in early 2024—when monthly active users (MAU) peaked at around 80,000—growth quickly stalled. MAU has since declined to under 20,000 by late 2025. Farcaster’s user base remained heavily concentrated within the crypto-native community, failing to attract mainstream users due to high barriers to entry, niche content, and inferior user experience compared to established platforms like X or Instagram. Co-founder Dan Romero announced a strategic pivot from social-first to a wallet-focused product, acknowledging that social alone wasn’t driving sustainable growth. Internal data showed that wallet features—used for transactions, trading, and interacting with dApps—consistently outperformed social modules in user retention and frequency. The shift reflects a broader realization: It’s easier to add social features to a wallet than to build a social product around crypto. While the move has sparked some community discontent, Farcaster is betting that deeper integration with on-chain utilities represents a more viable path to product-market fit.

深潮12/09 03:51

After a Valuation of $1 Billion and Five Years of Exploration, Why Did It 'Admit Defeat'?

深潮12/09 03:51

Serial criminal Cinnabon worker in viral hate video denies she’s racist for bizarre reason

Former Cinnabon employee Crystal Wilsey, a 43-year-old with a lengthy criminal record, was fired after a viral video showed her using racial slurs against a Somali couple. Despite admitting to being racist in the footage, she later denied prejudice, citing her son with darker skin—which she attributed to a health condition, Addison’s disease—as proof. Wilsey has faced over a dozen charges, including child endangerment, drug possession, and disorderly conduct. A fundraiser supporting her has raised over $110,000, claiming she was harassed. Wilsey insists she was defending herself, not being racist.

nypost12/08 22:00

Serial criminal Cinnabon worker in viral hate video denies she’s racist for bizarre reason

nypost12/08 22:00

The 'Final Battle' of Crypto Treasuries: The Myth of Buying the Dip Is Collapsing

Amid a recent crypto market downturn, crypto treasury companies—previously major buyers that fueled market rallies—have significantly slowed or halted their purchases, despite prices reaching potential bottom. This inaction is not due to depleted funds or panic but stems from a structural paralysis in their funding mechanisms, which rely heavily on stock premiums. These companies, exemplified by industry leader Strategy, primarily fund crypto acquisitions through convertible notes and At-The-Market (ATM) equity offerings. The ATM mechanism allows issuing new shares at a premium to net asset value (NAV) to raise capital for buying more crypto. However, when their stock price falls below the NAV per share (mNAV < 1), selling shares becomes dilutive and economically unfeasible, effectively locking their "ammunition." Strategy, for instance, still has over $30 billion in ATM capacity but cannot utilize it while trading at a discount. Other crypto treasury firms face similar constraints. Many have mNAV ratios below 1, rendering their ATM plans unusable. While some, like BitMine (a major Ethereum holder), continue buying using cash reserves, overall effective purchasing power is limited. The sector is shifting focus from leveraged accumulation to earning yield through staking (e.g., Ethereum staking yields ~8%) to cover interest costs and ensure survival. This reflects a broader move away from "infinite bullet" theories dependent on perpetual premiums, underscoring that these companies amplify trends rather than counteract downturns. Market recovery is essential to restart the funding flywheel.

比推12/08 09:27

The 'Final Battle' of Crypto Treasuries: The Myth of Buying the Dip Is Collapsing

比推12/08 09:27

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