# Сопутствующие статьи по теме DeFi

Новостной центр HTX предлагает последние статьи и углубленный анализ по "DeFi", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

Tokenized Deposits vs. Stablecoins: The Future of Finance is Not Replacement, but Integration

Tokenized deposits and stablecoins represent complementary, not competing, visions for the future of finance. Banks create money through fractional reserve lending, offering low-cost credit to large clients in exchange for deposits—tokenized deposits extend this on-chain but remain within the banking system’s regulatory and operational framework. Stablecoins, like USDC or USDT, function as permissionless, 24/7 cash-like instruments ideal for global settlements, especially in cross-border payments. The future lies in interoperability: corporations may hold tokenized deposits for credit benefits while using stablecoins for efficient, off-ledger transactions. Smart contracts enable complex, multi-party financial workflows beyond what traditional APIs offer. Rather than one replacing the other, both tokenized deposits (for banking-integrated credit) and stablecoins (for borderless liquidity) will coexist on-chain, enabling a more efficient and accessible financial system. The key is building bridges between these models, not choosing sides.

深潮12/10 03:57

Tokenized Deposits vs. Stablecoins: The Future of Finance is Not Replacement, but Integration

深潮12/10 03:57

Regulatory Crossroads: The United States, Europe, and the Future of Crypto Assets

The article "Regulatory Crossroads: The US, Europe, and the Future of Crypto Assets" examines the divergent regulatory paths shaping the cryptocurrency landscape. It begins by contrasting Bitcoin’s origins as a decentralized, anti-establishment innovation with its current status as a heavily industrialized, energy-intensive asset. The piece draws parallels between the unregulated pre-1933 US stock market and today's crypto space, arguing that a shift from a libertarian "wild west" to a compliant asset class is inevitable. The US approach is portrayed as increasingly pragmatic and institutionally friendly. Key developments include the GENIUS Act, which mandates 1:1 Treasury backing for stablecoins, the repeal of restrictive accounting rules, and a perceived regulatory "regime change" at the SEC under Paul Atkins. This framework aims to integrate crypto into traditional finance, with major banks like JPMorgan now offering crypto-backed loans and the Treasury viewing stablecoins as tools for extending dollar hegemony. In stark contrast, the EU’s Markets in Crypto-Assets (MiCA) regulation is criticized as a risk-averse, innovation-stifling "bureaucratic masterpiece." Its high compliance burdens, treatment of crypto founders like sovereign banks, and effective ban on non-euro stablecoins like USDT are seen as creating a "regulatory moat" that drives talent and startups to more favorable jurisdictions like Switzerland and the UAE. The article concludes that the US is poised to become the dominant global crypto financial center by normalizing DeFi, while Europe risks becoming a "financial museum" due to its oppressive regulatory framework. It calls for urgent, decisive action to build a functional crypto industry that protects investors and allows for safe institutional capital entry before the window of opportunity closes.

深潮12/10 03:43

Regulatory Crossroads: The United States, Europe, and the Future of Crypto Assets

深潮12/10 03:43

Bitwise CIO: 2026 Will Be Very Strong; ICOs Will Make a Comeback

Bitwise CIO Matt Hougan argues that Bitcoin's traditional four-year cycle is weakening due to diminishing impacts of halvings, shifting interest rates, and reduced systemic risks. Instead, he emphasizes the growing influence of institutional capital, with over $15 trillion in assets from major firms like Bank of America and Morgan Stanley now entering the crypto space. Hougan expects 2026 to be a strong year, not a downturn, driven by sustained institutional adoption. He addresses concerns about sell pressure, explaining that long-term holders often use covered calls to generate yield without selling, creating hidden market pressure. MicroStrategy’s potential forced selling is dismissed as unrealistic given its strong financial position. Hougan also discusses the slow but inevitable adoption by financial advisors, the strategic diversification into major L1 blockchains like Ethereum and Solana, and the eventual resurgence of ICOs on a larger, more regulated scale. He concludes that the crypto market is at the beginning of a significant growth phase, fueled by institutional flows, improved regulation, and emerging narratives like stablecoins and tokenization.

比推12/09 21:36

Bitwise CIO: 2026 Will Be Very Strong; ICOs Will Make a Comeback

比推12/09 21:36

Cronos Labs Launches Cronos One to Simplify Web3 Onboarding

Cronos Labs has launched Cronos One, a unified onboarding platform designed to simplify entry into the Cronos ecosystem for new and cross-chain Web3 users. The platform integrates wallet top-ups, bridging, and on-chain identity verification into a single experience. A core component is Cronos Verify, a gasless and privacy-preserving on-chain attestation that links a user's wallet to a verified Crypto.com account. This supports the growing trend of using verifiable attestations for Sybil resistance, equitable incentives, and gated utilities across dApps. Launch partners, including Moonlander and VVS Finance, are offering benefits such as prediction vouchers, fee refunds, and gasless transactions via Cronos Verify. The release coincides with the Cronos x402 Hackathon, where developers are building applications that utilize verified identity for programmable payments and AI-driven transactions. Cronos One represents a key step in the Cronos roadmap, advancing the ecosystem toward greater accessibility, verifiability, and readiness for institutional applications. It builds upon recent infrastructure upgrades like reduced gas fees and sub-second block times. The Cronos ecosystem, which includes Cronos EVM, Cronos POS, and the new Cronos zkEVM, is supported by over 500 developers and serves a global user base of more than 150 million.

TheNewsCrypto12/09 20:09

Cronos Labs Launches Cronos One to Simplify Web3 Onboarding

TheNewsCrypto12/09 20:09

BTC Pauses at $90,000 as Fed Sends Dovish Signals

Bitcoin has stabilized around the $90,000 mark, supported by a softer tone from the Federal Reserve, creating a favorable macro environment for risk assets. While BTC solidifies its role as 'digital gold,' its limitations for payments and decentralized applications due to high fees and low throughput remain. This has increased interest in Layer 2 infrastructure solutions that leverage Bitcoin's security while overcoming its technical constraints. Amid this shift, Bitcoin Hyper emerges, aiming to be the first Bitcoin L2 integrating the Solana Virtual Machine (SVM). It focuses on practical applications like fast, low-fee BTC payments, DeFi protocols, staking services, and NFT platforms, targeting Solana-level speeds. The project's presale has raised over $29 million, indicating significant demand. Its native token, $HYPER, currently priced at $0.0134, has speculative potential for substantial growth if the protocol captures a share of the Bitcoin L2 market. Large investors are already accumulating the token, and a staking program with high APY is planned to incentivize holders post-launch. The combination of Bitcoin's price surge, a supportive macro backdrop, and the growing need for scalable Bitcoin infrastructure positions projects like Bitcoin Hyper to potentially bridge the gap between Bitcoin's security and modern decentralized application usability.

bitcoinist12/09 18:45

BTC Pauses at $90,000 as Fed Sends Dovish Signals

bitcoinist12/09 18:45

Bitwise: My Highest Conviction Investment in Crypto

Author Matt Hougan, with eight years in crypto, expresses skepticism towards those who claim certainty about which blockchain (e.g., Ethereum, Solana, Bitcoin) will dominate. He believes the future of crypto remains highly uncertain, influenced by regulation, execution, macro conditions, and luck. Instead of betting on individual assets, Hougan invests broadly using a market-cap-weighted crypto index fund. His core conviction is that crypto as a whole will grow 10-20x in importance over the next decade, driven by stablecoins, tokenization, DeFi, and new use cases. He cites a prediction that all U.S. equities could move on-chain, representing massive growth potential. By diversifying, he captures the sector’s upside while avoiding the risk of picking the wrong chain. He recommends index funds as a sound strategy for many investors.

深潮12/09 10:02

Bitwise: My Highest Conviction Investment in Crypto

深潮12/09 10:02

Where Will the Money for the Next Bull Market Come From?

Where Will the Money for the Next Crypto Bull Run Come From? Bitcoin's sharp decline from $126,000 to $90,000 has caused panic and a liquidity crunch. However, structural tailwinds are emerging: the SEC plans an "Innovation Exemption" rule, the Fed is expected to begin a rate-cutting cycle, and global institutional pathways are maturing. The myth of Digital Asset Treasuries (DATs) is fading. Their buying power is insufficient (under 5% of the crypto market) and they can become net sellers during downturns. The real catalysts are institutional. The end of Fed quantitative tightening and potential rate cuts could inject liquidity. A crypto-friendly Fed leadership could further open the banking system to crypto. The SEC's shifting stance, moving crypto from a "threat" to a regulated asset class, reduces compliance barriers. Three key pipelines could deliver the next wave of capital: 1. **Institutional Entry:** Global Bitcoin and Ethereum ETFs provide a standardized entry point. Mature custody and settlement infrastructure (e.g., from BNY Mellon) enables efficient capital deployment. Even a 1-3% allocation from pensions and sovereign wealth funds would represent trillions. 2. **Real-World Assets (RWA):** Tokenizing traditional assets (bonds, real estate) creates a bridge to TradFi. The RWA market, projected to grow 50x to multi-trillions by 2030, offers massive, stable, yield-bearing assets for DeFi (e.g., MakerDAO's use of U.S. Treasuries). 3. **Infrastructure Upgrades:** Layer 2 solutions reduce costs and speed up transactions for institutional use. Stablecoins, with a $166B market cap and $4T in on-chain volume, have become a pillar for compliant, efficient settlements. The money is expected to arrive in phases: a short-term policy-driven rebound (2025-2026), followed by gradual institutional allocation (2026-2027), and finally long-term structural growth powered by RWA integration (2027-2030). The next bull run will be built not on retail speculation, but on institutional trust and infrastructure.

深潮12/09 09:36

Where Will the Money for the Next Bull Market Come From?

深潮12/09 09:36

RWA Weekly Report | US CFTC Launches Digital Asset Collateral Pilot Program, Spot Cryptocurrency Now Trading on CFTC-Registered Exchanges (12.3-12.9)

RWA Market Weekly Summary (Dec 3–9, 2025) The RWA market stabilized this week, with total on-chain Distributed Asset Value rising slightly to $18.44 billion. The number of asset holders increased by 6,130 to 561,558. Stablecoin market capitalization grew to $301.92 billion, with holders surging by 2.06 million to 207.75 million. U.S. Treasury tokenization slightly to $88 billion, while private credit rebounded to $22 billion. Key developments include the U.S. CFTC launching a digital asset collateral pilot program, allowing BTC, ETH, and USDC to be used as margin in regulated derivatives markets. The CFTC also approved spot cryptocurrency trading on its registered exchanges. U.S. lawmakers urged regulators to implement stablecoin rules under the GENIUS Act by July 2026. Meanwhile, former PBOC deputy governor Wang Yongli reiterated China's firm opposition to stablecoins, emphasizing the development of the digital yuan. In Europe, a consortium of banks plans to launch a euro stablecoin in 2026. South Korea's ruling party proposed a stablecoin bill requiring commercial banks to hold at least 51% ownership in issuers. The IMF warned that widespread stablecoin adoption could weaken central banks' monetary control. In project news, the SEC closed its investigation into Ondo Finance without action, and MSX (STONKS) reached a record $2 billion in daily trading volume.

Odaily星球日报12/09 07:55

RWA Weekly Report | US CFTC Launches Digital Asset Collateral Pilot Program, Spot Cryptocurrency Now Trading on CFTC-Registered Exchanges (12.3-12.9)

Odaily星球日报12/09 07:55

We've Hoarded Trillions in Bitcoin, But Never Use It? That's Changing Now

A significant portion of Bitcoin's trillion-dollar market cap remains dormant, with 61% of coins not moving in over a year and only 0.8% used in DeFi. While other ecosystems like Ethereum and L2s thrive with active use cases, Bitcoin has largely functioned as a passive store of value due to architectural and cultural constraints—prioritizing security over programmability, resisting upgrades, and lacking native interoperability. Previous solutions like wrapped BTC, federated systems, and bridges attempted to unlock Bitcoin’s liquidity but introduced new risks like custodial trust, security vulnerabilities, and reliance on external validators, contradicting Bitcoin’s trust-minimized ethos. However, this is changing with recent breakthroughs. Innovations like BitVM enable Bitcoin to verify external computations without executing them, allowing for Bitcoin-secured rollups and trust-minimized bridges. Upgrades like Taproot facilitate native assets and programmable vaults. New systems now support Bitcoin staking, restaking, and Lightning Network-based yield without requiring custodial wrapping or bridging. This emerging BTCFi ecosystem—comprising infrastructure, asset, and protocol layers—finally allows Bitcoin to participate in a functional economy while preserving its security model and self-custody principles. This could unlock a portion of the dormant capital, significantly impacting the broader crypto landscape.

marsbit12/09 02:55

We've Hoarded Trillions in Bitcoin, But Never Use It? That's Changing Now

marsbit12/09 02:55

Bitcoin's Dormant Capital Has Finally Awakened

Bitcoin, the largest and most secure cryptocurrency, has historically been underutilized, with over 60% of its supply dormant for more than a year and less than 1% engaged in DeFi. While other ecosystems like Ethereum and Solana evolved with smart contracts and vibrant economies, Bitcoin’s largely remained a passive asset due to its security-first architecture, limited scripting capabilities, slow upgrade processes, and cultural conservatism. Previous workarounds—wrapped BTC, federated systems, cross-chain bridges, and sidechains—introduced trust assumptions, custodial risks, and security vulnerabilities, failing to align with Bitcoin’s trust-minimized ethos. Recent breakthroughs are changing this. Innovations like BitVM enable Bitcoin to verify off-chain computations without executing them, allowing for Bitcoin-backed rollups, trust-minimized bridges, and programmable vaults. Upgrades like Taproot have expanded Bitcoin’s capabilities, enabling native assets (e.g., Taproot Assets for stablecoins) and more complex cryptographic structures. New models also allow Bitcoin to earn yield natively—through staking, restaking, and Lightning Network-based liquidity provision—without leaving self-custody. This emerging BTCFi ecosystem comprises infrastructure for secure execution environments, verifiable bridges, yield markets, and Bitcoin-native assets, all without compromising Bitcoin’s core security or self-custody principles. This marks the first time Bitcoin has a financial ecosystem capable of supporting its trillion-dollar market cap, potentially unlocking vast dormant capital and integrating it into a productive, decentralized economy.

深潮12/09 01:34

Bitcoin's Dormant Capital Has Finally Awakened