Industry News

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.

Token Is Completely on Fire, Blockchain Is Heartbroken

Token, a term once central to blockchain's vision of decentralization and economic transformation, has now been popularized by the AI industry as a unit of computation and billing. With the rise of products like OpenAI's ChatGPT and Deepseek, Token has become widely recognized as a measure of API calls and computational power—essentially a "currency for compute." This shift has left the blockchain sector in an ironic position: while it long struggled to explain Token's potential for revolutionizing ownership and community governance, AI has repurposed the term into a practical, everyday concept devoid of cryptographic complexity. The blockchain community once championed "Tokenization of Everything," aiming to convert real-world assets and labor into tradable tokens. Instead, AI achieved a form of tokenization by breaking down text, audio, and video into Tokens for processing—without requiring users to manage private keys or understand consensus mechanisms. This practical adoption contrasts sharply with blockchain’s association with speculation and scandals, as seen in the rise and fall of NFTs and memecoins. Amid a broader crisis of faith in blockchain’s promise—with many innovators expressing disillusionment over the industry’s shift toward speculation—AI’s rapid growth has intensified this sense of irrelevance. However, there are positive signs: traditional assets like U.S. Treasuries and stocks are increasingly being tokenized, attracting major financial institutions like BlackRock and Fidelity. This may signal Token’s return to its original purpose as a vehicle of value, even as AI dominates its popular meaning.

marsbit03/25 02:14

Token Is Completely on Fire, Blockchain Is Heartbroken

marsbit03/25 02:14

Crypto Morning Brief: SpaceX Plans to File IPO Application as Early as This Week, Tether Launches First Full Audit

Crypto Morning Brief: SpaceX is reportedly planning to file for an IPO as early as this week, while Tether has announced its first full audit conducted by a Big Four accounting firm. In regulatory news, China has issued new rules prohibiting state-owned enterprise leaders from accepting "virtual currencies," and the U.S. Department of Justice admitted it lacks evidence in an investigation involving the Federal Reserve Chair. In market developments, Bitlayer ($BTR) plummeted 80%, potentially due to concentrated selling on Bithumb. Meanwhile, Backpack addressed user concerns over its Sybil account detection by launching an appeal channel and a token buyback compensation plan. Resolv Labs offered a white-hat deal to an attacker, proposing to let them keep 10% of exploited funds if 90% is returned. The Ethereum Foundation reframed the role of L2s from scaling tools to providers of customized services, emphasizing a synergistic relationship with L1. Circle froze USDC in 16 business wallets linked to an undisclosed U.S. civil case, raising concerns about operational impacts. Other notable updates include Robinhood's approval of a $1.5 billion stock buyback and ongoing geopolitical contacts between the U.S. and Iran.

marsbit03/25 01:19

Crypto Morning Brief: SpaceX Plans to File IPO Application as Early as This Week, Tether Launches First Full Audit

marsbit03/25 01:19

Amid the AI Layoff Wave, OpenAI Opens "Iron Rice Bowl" for Salespeople

Amid widespread AI-driven layoffs across the tech industry—with companies like Block, Pinterest, and Dow Chemical cutting thousands of jobs—OpenAI is expanding its workforce by hiring 3,500 new employees, primarily in sales, partnership management, and technical ambassador roles. While AI is replacing standardized, task-based jobs (e.g., coding, customer service), OpenAI’s recruitment focuses on roles that require human interaction: convincing enterprise clients to adopt AI, integrating systems, and providing tailored solutions. Despite ChatGPT’s massive user base, monetization remains challenging, with significant losses per user. Enterprise clients, crucial for profitability, are increasingly choosing competitors like Anthropic’s Claude. OpenAI’s shift reflects a broader trend: AI excels at clearly defined tasks but struggles with ambiguous, relationship-driven work like sales and customization. The company is even exploring partnerships with private equity firms to support AI implementation. The key differentiator between replaced and valued roles is whether the job can be easily described—if so, it’s vulnerable to AI automation. Roles requiring nuanced, human-driven problem-solving remain in demand.

比推03/24 13:37

Amid the AI Layoff Wave, OpenAI Opens "Iron Rice Bowl" for Salespeople

比推03/24 13:37

Besides the Resolv Hack, This Type of DeFi Vulnerability Has Occurred Four Times Already

An attacker exploited a compromised off-chain signing key in the stablecoin protocol Resolv, minting 80 million USR tokens (pegged to USD) from a $100k–$200k USDC deposit within minutes. The stolen keys allowed unlimited minting due to a design flaw—lacking a minting cap—despite multiple audits. The attacker then converted USR to its wrapped version (wstUSR) and dumped it on DEXs, netting ~11,400 ETH (~$24M). This caused USR to depeg, trading at ~$0.25. The depeg triggered a second-phase crisis: lending markets (including Morpho and Fluid/Instadapp) using wstUSR as collateral relied on hardcoded oracles that priced it near $1 instead of its real market value. Arbitrageurs bought cheap wstUSR, used it as overvalued collateral to borrow stablecoins, and amplified losses. Fluid absorbed over $10M in bad debt; Morpho had 15 vaults exposed. This incident repeats a known DeFi pattern: similar oracle failures occurred with Usual Protocol (Jan 2025), Stream Finance (Nov 2025), and Moonwell (late 2025), where mispriced collateral led to massive bad debt. Critics highlight flawed incentives in the "curator" model (e.g., Gauntlet), where third-party vault managers prioritize high yields without adequate risk controls, and protocols outsource risk management without enforcing safeguards. The root cause is systemic: over-reliance on static oracles for volatile assets and insecure off-chain infrastructure.

marsbit03/24 12:10

Besides the Resolv Hack, This Type of DeFi Vulnerability Has Occurred Four Times Already

marsbit03/24 12:10

Only Two Ways to Survive in the Software Industry: AI Growth or High Profitability

The software industry faces a binary future: companies must either achieve >10% revenue growth through truly AI-native products or deliver >40% true operating margins (including stock-based compensation) within 12-18 months. The comfortable middle ground—modest growth with diluted equity—is unsustainable. Path 1 requires radical reorganization: identify top performers, restructure leadership, and allocate 50% of R&D to new AI products built with small, token-driven teams. Success depends on creating dynamic context layers, adopting usage-based pricing, and eliminating organizational barriers weekly. Path 2 demands extreme profitability through flattened hierarchies, minimized customization, price increases where defensible, and treating all equity as real expense. AI should drive engineer productivity gains, but this path involves significant layoffs and honest assessment of eroding competitive moats. Companies must choose decisively or face continued valuation pressure. The era of intermediate outcomes is over.

比推03/24 08:40

Only Two Ways to Survive in the Software Industry: AI Growth or High Profitability

比推03/24 08:40

Trump Tweets After Hours, Pushing On-Chain Perpetual Contracts into the Mainstream

Trump, who calls himself the "Crypto President," is also driving the adoption of perpetual futures contracts. He frequently makes market-moving statements outside traditional trading hours, coinciding with the rise of 24/7 trading infrastructure. Over a single weekend, Hyperliquid’s S&P 500 proxy product experienced three major price swings triggered by Trump’s tweets—first rising on positive remarks, then falling after a threat against Iran, and surging again following claims of diplomatic progress (later denied by Iran). This highlights a structural shift toward perpetual contracts and round-the-clock markets. Perpetual DEX trading volume reached $739 billion in January 2026, accounting for 10.2% of all crypto perpetual trading—up from just 2.0% two years prior. While it remains uncertain whether perps will dominate traditional finance, growth is undeniable. Recent developments, like Katana’s acquisition of IDEX and the launch of Katana Perps, signal increasing momentum. Regulatory clarity and macro risks are accelerating the move toward 24/7 trading, where price discovery happens continuously.

marsbit03/24 08:09

Trump Tweets After Hours, Pushing On-Chain Perpetual Contracts into the Mainstream

marsbit03/24 08:09

Kalshi and Polymarket Jointly Invest in New Fund, a Major Step Towards the 'Ecologization' of Prediction Markets

A new venture capital firm, 5c(c) Capital, founded by two former Kalshi employees, is raising $35 million to invest in prediction market startups. The fund has garnered support from key industry leaders, including Kalshi CEO Tarek Mansour and Polymarket CEO Shayne Coplan, as well as investors from a16z, Ribbit Capital, and Multicoin Capital. This marks the first VC fund dedicated solely to the prediction market industry and represents a significant step towards its maturation as an independent ecosystem beyond the crypto market. Prediction markets are experiencing explosive growth, with Kalshi's monthly trading volume surpassing $12.7 billion in March 2026 alone—over half of its total 2025 volume. The industry is rapidly building out its infrastructure, including the formation of a trade coalition (CPM), acquisitions of API and data firms, and the planned inaugural Prediction Market Conference. The founders of 5c(c) Capital believe the industry could eventually see $10 trillion in trading volume, extending far beyond its current focus on sports. Despite potential regulatory challenges, prediction markets are solidifying their position as a major new financial sector.

Odaily星球日报03/24 06:31

Kalshi and Polymarket Jointly Invest in New Fund, a Major Step Towards the 'Ecologization' of Prediction Markets

Odaily星球日报03/24 06:31

US AI Startups Are All Using Chinese Large Models | Rewire Morning News

U.S. AI Startup Reliance on Chinese Models & Key Tech Updates NVIDIA CEO Jensen Huang declared on a podcast that AGI has been achieved, citing open-source platforms like OpenClaw as evidence, while simultaneously defending AI-generated content against criticism. A U.S.-China security review report revealed that about 80% of American AI startups are using Chinese open-source models from companies like Alibaba, Moonshot AI, and MiniMax, which dominate global rankings. This dependency is seen as a self-reinforcing competitive advantage for China. In a specific case, the $29.3 billion coding tool Cursor was found to be using Moonshot's Kimi model without disclosure. Meanwhile, the Pentagon labeled Anthropic a "supply chain risk," drawing political criticism. In energy, the IEA warned the Iran crisis has caused a larger daily oil supply loss than the 1970s shocks, with Russia benefiting as oil prices surge. BlackRock's CEO warned AI will worsen wealth inequality and proposed a government retirement fund and tokenization to broaden market access, aligning with the firm's business interests. Sam Altman stepped down as chairman of Helion Energy to avoid a conflict of interest as OpenAI negotiates a power purchase agreement for fusion energy, a highly ambitious bet given fusion is not yet commercialized. Other notable updates: Trump established a fund to reduce foreign chip reliance; prediction market CEOs invested in a new VC fund despite regulatory challenges; Luma AI released a leading image model; Apple announced AI-focused WWDC 2026; and MicroStrategy continued aggressive Bitcoin purchases.

marsbit03/24 04:41

US AI Startups Are All Using Chinese Large Models | Rewire Morning News

marsbit03/24 04:41

Cardano Founder Says The Old System Is Breaking Down

Charles Hoskinson, founder of Cardano, argues that the current downturn in crypto and other markets is a symptom of a broader systemic collapse, not a crypto-specific failure. In a livestream, he described a world in crisis due to war, inflation, and a loss of institutional legitimacy. Hoskinson positioned crypto as the essential infrastructure for a new, fairer system that can bank the unbanked, provide universal digital identity, and create equitable global markets. He defended the long-term purpose of crypto amidst market weakness, linking it to censorship resistance and the future regulation of AI. He also revealed that AI tools are drastically accelerating development, citing the near-launch of Cardano's privacy chain, Midnight. His overarching message was that crypto serves as a vital trust and control layer for a dysfunctional world.

bitcoinist03/24 03:02

Cardano Founder Says The Old System Is Breaking Down

bitcoinist03/24 03:02

Crypto Morning Brief: edgeX to Conduct TGE on March 31, SK Hynix Plans to Issue New Shares for US ADR Listing

Crypto Morning Brief: EdgeX announces TGE on March 31; SK Hynix plans US ADR listing. US Senate's Clarity Act draft restricts stablecoin yield earnings, allowing only user-based rewards. Aave V4 mainnet activation proposal passes Snapshot vote. Balancer Labs to shut down, transitioning to DAO structure. MicroStrategy adds 1,031 BTC, now holds 762,099 BTC total. Bitmine increases ETH holdings by 65,341, totaling 4.66 million ETH. Early Kalshi employees raise VC fund for prediction markets; ParaFi closes $125M new fund. Market updates include Middle East tensions, with US targeting April 9 as potential war end date. Recommended readings discuss token naming debates, gold's price drop, oil-gold divergence, Iran conflict impact, and AI agent performance linked to token usage.

marsbit03/24 01:16

Crypto Morning Brief: edgeX to Conduct TGE on March 31, SK Hynix Plans to Issue New Shares for US ADR Listing

marsbit03/24 01:16

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