# Сопутствующие статьи по теме Security

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

Written at the End of 2025: Code, Power, and Stablecoins

By the end of 2025, stablecoins have firmly established themselves, with a market cap surpassing $300 billion—a growth of nearly $100 billion in under a year. This growth reflects institutional confidence, with major banks projecting multi-trillion dollar valuations in the coming years. Stablecoins are no longer just a crypto narrative but a fundamental shift in monetary infrastructure, built on code and verifiable trust rather than opaque intermediaries. The failure of Synapse highlighted the risks of traditional fintech: hidden counterparty risk and unverifiable accounting. In contrast, self-custodied stablecoins eliminate intermediary risk, though issuer risk remains—mitigated by transparent reserve proofs and on-chain monitoring. Stablecoins enable global reach from day one, bypassing the need for localized banking infrastructure. The bottleneck remains fiat on/off-ramps, but modular solutions allow for gradual integration. New purpose-built blockchains like Tempo and Arc aim to optimize payments but face trust barriers compared to battle-tested networks like Ethereum and Solana. Agentic finance presents a near-term opportunity in automating mundane financial tasks, with smart contracts enabling secure, permission-bound automation. However, security remains critical: rapid growth must not compromise operational rigor. Privacy is another key challenge, as real-world business adoption requires selective disclosure—proving compliance without exposing sensitive data. The true potential of stablecoins lies beyond replicating existing fintech—it’s in unlocking programmable money, internet-native capital markets, and reimagining financial services through verifiable, autonomous systems.

比推12/26 19:38

Written at the End of 2025: Code, Power, and Stablecoins

比推12/26 19:38

Crypto Morning Brief: Offshore RMB Breaks Through 7.0 Against USD Again, Trust Wallet Users' Funds Stolen

China's offshore yuan strengthened past 7.0 against the U.S. dollar, reaching its highest level since September 2024. Bitcoin mining difficulty saw a slight increase to 148.26 T. In regulatory developments, Hong Kong is advancing legislation for OTC digital asset trading and custody services to enhance compliance and combat fraud. A significant security breach affected Trust Wallet users, with at least $6 million stolen due to a vulnerability in its browser extension. Meanwhile, an analyst confirmed that Trend Research’s Ethereum holdings are facing approximately $143 million in unrealized losses. In political news, the Wall Street Journal reported that Changpeng Zhao benefited from an emerging "informal pardon" system during Trump’s presidency, where lobbying for clemency reportedly involved multi-million dollar fees. The AI-related cryptocurrency sector experienced a sharp decline, losing 75% of its market value—approximately $53 billion—in 2025, with several major tokens dropping over 70%. Infinex reduced the valuation for its INX token sale to $99.99 million following market feedback. Pantera Capital’s Jay Yu shared 12 predictions for 2026, including the rise of tokenized gold, AI-integrated crypto interfaces, and consolidation among digital asset trading platforms. An annual CoinGlass report highlighted Binance, OKX, and Bitget as leaders in BTC and ETH liquidity and derivatives trading volume. Finally, Caixin warned about legal risks associated with the use of "U Cards" in China—offshore bank cards that facilitate payments using USDT.

marsbit12/26 01:45

Crypto Morning Brief: Offshore RMB Breaks Through 7.0 Against USD Again, Trust Wallet Users' Funds Stolen

marsbit12/26 01:45

RWA Utility Tokens, Stop Kidding Yourselves

The article, written by lawyer Shao Jiadian, critically examines the common claim by RWA (Real World Asset) token projects that their tokens are "utility tokens" rather than securities. The author argues that regulatory bodies globally do not classify assets based on their self-proclaimed labels but on their actual economic function and structure. The core argument is that most so-called "utility RWA tokens" involve users investing money into a common asset pool managed by the project, with the expectation of profits derived from the project's efforts (e.g., dividends, revenue sharing from assets like real estate or equipment). This structure meets the criteria of an "investment contract" and is therefore treated as a security in major jurisdictions like the U.S., EU, Switzerland, and Hong Kong. Two key legal cases are cited as evidence: 1. **DeFiMoney Market (DMM):** Its fixed-yield token and "governance" token were both deemed securities by the SEC because investors' profits came from a managed asset pool. 2. **Unicoin (2025):** An asset-backed token promising returns from real estate and equity was charged by the SEC as an unregistered securities offering and fraud. The author highlights an inherent conflict: utility tokens emphasize *use* and *consumption*, while RWA tokens are fundamentally linked to *assets* and *returns*. Any token offering profit-sharing, dividends, or redeemable cash flows will be viewed as a security by regulators. The conclusion is stark: projects are not avoiding securities laws out of ignorance but to circumvent the stricter requirements of a regulated securities offering. The only viable paths to avoid securities classification are: 1. Purely functional tokens with no profit expectation. 2. Private offerings strictly for accredited investors. 3. Operating under specific regimes like Dubai's VARA that regulate security-like tokens as virtual assets. Ultimately, any RWA token offered to the public that is tradable and promises returns will almost certainly be treated as a security. The choice for projects is not between utility and security labels, but between "long-term compliance" and "short-term gambling."

marsbit12/25 03:13

RWA Utility Tokens, Stop Kidding Yourselves

marsbit12/25 03:13

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