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Transcending Cycles, Defining the Future: BIT Hosts Global Asset Strategy Sharing Session in Hong Kong, Exploring New Paradigms of Web3 and Traditional Markets

Amid a shifting global macroeconomic landscape, BIT, a global digital asset financial services group, hosted the "Global Asset Strategy Forum" in Hong Kong on April 22, 2026, under the theme "Transcending Cycles, Defining the Future." The event brought together industry leaders from financial institutions, crypto platforms, and professional service firms to explore new paradigms in Web3 and traditional markets. Key discussions centered on cross-market investment opportunities, regulatory pathways for compliant stablecoins, and the role of precious metals like gold and silver in the digital economy. BIT Founding Partner Cynthia Wu highlighted the institutionalization of the digital asset sector, noting its evolution from early retail-driven speculation to a phase marked by clearer regulation, the approval of spot ETFs, and the rise of Real-World Assets (RWA). She emphasized RWA’s role in bridging the gap between traditional finance and digital assets. Speakers observed a structural "reversal" between Web3 and traditional markets: Web3 is becoming more rational and profit-oriented, while traditional markets, especially U.S. equities driven by AI, are attracting concentrated capital and attention. The U.S. "Goldilocks" economic environment and AI commercialization were noted as key factors supporting risk assets. In stablecoin discussions, panelists emphasized the importance of regulatory compliance, asset-backed reserves, and transparency, noting that algorithmic stablecoins remain uncertain from a regulatory perspective. For RWA, gold was discussed as a macro-sensitive asset, with its value closely tied to interest rates, dollar strength, and geopolitical factors. The forum concluded that the digital asset industry is transitioning from narrative-driven growth to structure-driven, cross-market integration, with a focus on institutional participation and trust-based financial infrastructure. Disclaimer: This summary is for informational purposes only and does not constitute investment advice.

marsbit04/24 13:29

Transcending Cycles, Defining the Future: BIT Hosts Global Asset Strategy Sharing Session in Hong Kong, Exploring New Paradigms of Web3 and Traditional Markets

marsbit04/24 13:29

Not Just DeepSeek, Big Tech Companies Want to 'Abandon' NVIDIA

The article discusses how major tech companies are attempting to reduce their reliance on Nvidia, despite its dominant position in the AI chip market, where it enjoys a 75.2% GAAP gross margin. Companies like DeepSeek are adapting their models to run on domestic alternatives such as Huawei’s Ascend chips, while in the U.S., Google and Meta are developing their own AI chips (TPU and MTIA series) to complement external partnerships. Nvidia’s CEO, Jensen Huang, acknowledges that Moore’s Law is fading and that export restrictions may slow China’s AI development but could ultimately spur a self-sufficient ecosystem. Notably, Chinese firms are leading in open-source models, which could eventually challenge Nvidia’s monopoly. OpenAI is actively diversifying away from Nvidia, signing a $20 billion deal with Cerebras, a startup using wafer-scale chips to reduce latency and cost. Cerebras, founded by Andrew Feldman, aims to challenge Nvidia with its unique architecture but faces financial and competitive risks, including heavy dependence on OpenAI and geopolitical tensions. While competition is intensifying with players like AMD and Groq (which partnered with Nvidia), the overall demand for compute continues to grow. The market is shifting toward a diversified supplier model, though Nvidia remains a formidable force.

marsbit04/24 12:29

Not Just DeepSeek, Big Tech Companies Want to 'Abandon' NVIDIA

marsbit04/24 12:29

Day 6 of the rsETH Incident: DeFi United Secures Approximately $100 Million in Intentional Commitments, but a $50 Million Gap Remains

On April 18, Kelp DAO’s rsETH LayerZero bridge was exploited, resulting in the unauthorized minting of 116.5k rsETH (approx. $292M). The attacker borrowed around $190M on Aave V3. The Arbitrum Security Council froze 30,766 ETH linked to the incident. DeFi United, a cross-protocol rescue initiative led by Awe, was formed to cover a total shortfall of 112.2k rsETH ($258M). As of April 24, several protocols have pledged around $100M in support, though most commitments are still under DAO voting or discussion. Key pledges include: - Golem: 1,000 ETH ($2.3M) - Aave founder Stani Kulechov: 5,000 ETH ($11.5M) - EtherFi: up to 5,000 ETH ($11.5M) - Lido: up to 2,500 stETH ($5.75M), contingent on full coverage - Mantle: proposed a $69M loan to Aave DAO under specific terms The remaining shortfall is estimated at $50M. Aave’s treasury and safety module (~$236M combined) can cover the worst-case bad debt scenario ($230M). Three potential loss distribution paths were outlined by DefiLlama’s 0xngmi: 1. Uniform 18.5% haircut for all rsETH holders: Aave bad debt ~$216M 2. Only protect Mainnet, abandon L2: bad debt up to $341M 3. Repay only pre-attack holders: technically difficult, ~$91M net loss KelpDAO has not yet announced a specific plan. The success of DeFi United depends heavily on KelpDAO’s final decision on loss allocation.

marsbit04/24 11:26

Day 6 of the rsETH Incident: DeFi United Secures Approximately $100 Million in Intentional Commitments, but a $50 Million Gap Remains

marsbit04/24 11:26

Kicked Out of PayPal, Musk Aims for a Comeback in the Crypto Market

Elon Musk's X (formerly Twitter) has launched its "Smart Cashtags" feature, generating approximately $1 billion in trading volume within days of its April 2026 pilot launch. The feature allows users to click on stock or crypto tickers (or even full Solana token contract addresses) in posts to view real-time price charts and discussions without leaving the app. Initially available to iPhone users in the US and Canada, with a partnership in Canada enabling direct trading via the Wealthsimple app. This move is part of Musk's broader "Everything App" vision, spearheaded by the upcoming X Money platform. Analysts, such as Mizuho's Dan Dolev, see this as a potential disruptor to the US payments market, even prompting a downgrade of PayPal's stock. X Money's beta offers services like 6% APY on deposits, cashback, and P2P transfers, with speculation it may later incorporate crypto trading and stablecoin settlements for faster transactions. However, the ambitious plan faces significant regulatory scrutiny. Senator Elizabeth Warren has questioned the sustainability of the high 6% yield and raised concerns over X's banking partner, Cross River Bank, which has a history of regulatory violations. Additional risks involve the "GENIUS Act," which may create loopholes for stablecoin issuance without full FDIC insurance coverage, potentially leaving users unprotected. The integration of social trading on a platform with over 500 million users could inject new liquidity and retail interest into the crypto market. Yet, it also amplifies risks like herd mentality and the blurring of lines between entertainment and financial speculation. Musk's return to finance, after his ouster from PayPal, hinges on balancing innovation with regulatory compliance.

marsbit04/24 09:11

Kicked Out of PayPal, Musk Aims for a Comeback in the Crypto Market

marsbit04/24 09:11

Chip Stocks Hit Record Highs Since 2000, SaaS Stocks Fall to Yearly Lows: Two Worlds Under the AI Divide

The article highlights a stark divergence in the tech market driven by AI: semiconductor stocks are surging while SaaS stocks plummet. On April 23, Texas Instruments saw its best single-day performance since 2000, with Q1 revenue up 19% and data center revenue surging 90%. Intel also reported blowout results, with revenue far exceeding expectations and its stock rising over 20% after hours. The semiconductor ETF (SMH) is up nearly 28% this year. In contrast, SaaS companies like ServiceNow and IBM experienced historic declines, with ServiceNow dropping 18% despite beating earnings estimates. The software ETF (IGV) has entered a technical bear market, losing about $2 trillion in market cap. The trend, dubbed "SaaSpocalypse," reflects fears that AI agents could reduce the need for software licenses and enable companies to build internal tools instead of relying on SaaS subscriptions. The market is rotating capital from software to semiconductors, betting on AI infrastructure as a safer play. Chip stocks now trade at high valuations—Texas Instruments at a P/E over 50, Intel at 120 times forward earnings—pricing in years of growth. However, this depends on continued massive AI capital expenditure from tech giants. If spending slows, the trend could reverse. For now, the divide persists: chips celebrate, SaaS struggles.

marsbit04/24 07:59

Chip Stocks Hit Record Highs Since 2000, SaaS Stocks Fall to Yearly Lows: Two Worlds Under the AI Divide

marsbit04/24 07:59

From Robinhood to Polymarket: Is the Era of Integrating All Assets on a Single Platform Coming?

From Robinhood to Polymarket: The Era of All-in-One Asset Platforms Is Coming Asset classes are rapidly converging. Platforms that once specialized in single categories—such as stocks, cryptocurrencies, or prediction markets—are now moving toward offering all three. Robinhood pioneered this model, starting with equities, adding crypto in 2018, and prediction markets in 2025. This strategy has proven resilient: when crypto revenues fell, other segments like options and stocks filled the gap. Now, prediction market leaders Polymarket and Kalshi are moving in the same direction, both announcing perpetual futures trading on April 21, 2026, pending regulatory approval. These futures will cover assets like Bitcoin, gold, and stocks such as Nvidia. This trend mirrors the consolidation seen in consumer tech, like smartphones replacing dedicated cameras and MP3 players. Younger users, accustomed to interacting with multiple asset types from an early age, will increasingly demand unified platforms. A key competitive advantage in prediction markets is collateral utilization—idle assets locked during betting periods. Polymarket’s move into perpetuals may be a strategy to generate yield from that capital, similar to earlier DeFi integrations like PolyAave. As the regulatory landscape evolves, traditional finance is also likely to incorporate crypto and prediction markets, further accelerating this convergence.

marsbit04/24 07:59

From Robinhood to Polymarket: Is the Era of Integrating All Assets on a Single Platform Coming?

marsbit04/24 07:59

Intel Soars 20%, CPUs Return to Center Stage in the Agent Era

Intel's stock surged 20% after reporting exceptional Q1 2026 results, with revenue of $13.6 billion (up 7% YoY) and non-GAAP EPS of $0.29, beating expectations by 29x. The rebound is driven by the resurgence of CPUs in the AI era, particularly as workloads shift from training to inference and agent-based applications. Intel’s Data Center and AI (DCAI) division hit a record $5.1 billion in revenue, up 22% YoY, marking a U-shaped recovery since mid-2025. The growth is attributed to strong demand for Xeon 6 "Granite Rapids" processors and increased AI infrastructure refresh cycles. While NVIDIA and AMD dominated the AI training phase, Intel is benefiting from the focus on AI agents, where CPU performance becomes critical—accounting for 50-90% of workflow latency in agent orchestration. This shift, coupled with management changes and strategic refocus on CPUs (including canceling the Falcon Shores GPU project), has repositioned Intel. New CEO Lip-Bu Tan emphasized that CPUs are re-establishing themselves as essential infrastructure in the AI era.

marsbit04/24 04:39

Intel Soars 20%, CPUs Return to Center Stage in the Agent Era

marsbit04/24 04:39

DeepSeek V4 Finally Released, Breaking the Strongest Closed-Source Monopoly, Explicitly Partnering with Huawei Chips

DeepSeek AI has officially released DeepSeek-V4, available in two versions: the high-performance **DeepSeek-V4-Pro** (49B activated parameters, 1.6T total) and the more efficient **DeepSeek-V4-Flash** (13B activated parameters, 284B total). Both support a 1M context length, making long-context capability a baseline feature rather than a premium offering. The Pro version rivals top closed-source models in agent capabilities, world knowledge, and reasoning performance. It outperforms Claude Sonnet 4.5 in agentic coding and approaches Claude Opus 4.6 (non-thinking mode) in quality. The Flash version offers competitive performance at a lower cost, though it lags in highly complex tasks. A key technical innovation is a new attention mechanism that reduces computational and memory demands for long contexts. The models are optimized for agent frameworks like Claude Code and OpenClaw. API services are available with support for both OpenAI and Anthropic-style interfaces. DeepSeek also announced upcoming support for Huawei’s computing hardware in the second half of the year. The models are open-sourced on Hugging Face and ModelScope.

marsbit04/24 04:21

DeepSeek V4 Finally Released, Breaking the Strongest Closed-Source Monopoly, Explicitly Partnering with Huawei Chips

marsbit04/24 04:21

More and More 'Model Supermarkets' Are Opening: ByteDance, Alibaba, and Tencent Compete to Integrate

Chinese tech giants like ByteDance, Alibaba, and Tencent are accelerating the rollout of integrated AI model subscription services—dubbed “model supermarkets”—to provide developers with bundled access to multiple leading domestic large language models (LLMs). ByteDance’s Volcengine recently upgraded its "Coding Plan" by adding newer models like GLM-5.1, Minimax M2.7, and Kimi k2.6, allowing subscribers to use various top models under a single monthly fee starting at ¥40. However, user feedback reveals significant issues, including rapid consumption of usage limits (e.g., hitting caps within hours), frequent server errors (like HTTP 429), and slow response times during peak hours. Complaints about misleading deduction rates—where calls to advanced models consume more quota—are also common. The trend is industry-wide: Alibaba, Tencent, and Baidu have all launched similar multi-model coding plans. While these platforms reduce trial costs for developers, they also expose challenges in balancing affordability with service quality and computational stability. Amid this shift, independent AI companies like Zhipu, MiniMax, and Moonlight Face (Kimi) are developing strategies to avoid becoming mere “pipes” in this ecosystem—focusing on vertical applications, autonomous agents, and long-context models to retain competitiveness. Analysts suggest that, while platform aggregation may pressure model firms in the short term, specialized and vertical AI capabilities will remain differentiated in the long run.

marsbit04/24 04:07

More and More 'Model Supermarkets' Are Opening: ByteDance, Alibaba, and Tencent Compete to Integrate

marsbit04/24 04:07

Silicon Valley Godfather Naval Takes the Helm, AngelList Packs Pre-IPO Growth Companies into USVC Fund

This article discusses the USVC Venture Capital Access Fund (USVC), a new investment vehicle co-founded by prominent Silicon Valley investor Naval Ravikant through AngelList. The fund's core mission is to provide retail investors access to high-growth, pre-IPO companies—a segment of the market traditionally reserved for venture capitalists and accredited investors. USVC invests in a portfolio of late-stage private companies, including notable names like xAI, Anthropic, and OpenAI. Its key selling point is allowing ordinary investors to gain exposure to the significant value creation that occurs before a company goes public, as the average age of companies at IPO has increased from 6 years in 1980 to 13 years today. However, the article highlights several important constraints: investors buy fund shares, not direct stock; the fund carries a net annual fee of 2.5%; it offers limited liquidity through quarterly share repurchases; and investments are long-term with no fixed end date. The fund has also garnered attention in the Web3 community due to Naval’s and AngelList’s history of supporting crypto and blockchain projects, positioning USVC at the intersection of traditional venture capital and emerging digital asset investment trends.

marsbit04/24 02:46

Silicon Valley Godfather Naval Takes the Helm, AngelList Packs Pre-IPO Growth Companies into USVC Fund

marsbit04/24 02:46

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