The world's first blockchain business war movie, explaining what blockchain is.

The news disclosed by Reuters that "China may review the issuance of a stablecoin based on the Renminbi" has stirred up a wave in the global financial and crypto assets market. The fact that this long-considered policy "taboo" topic can surface is itself sufficient to be interpreted as a significant signal of a shift in direction.
This sudden discussion is not without basis. From the China National Petroleum Corporation (CNPC) researching the use of stablecoins for cross-border oil settlements, to Hong Kong actively promoting a regulatory sandbox for stablecoins, and the grassroots exploration of offshore RMB stablecoins, all indicate that the narrative around RMB stablecoins is entering a new and more complex stage. However, in the face of this potential initiative that could reshape the global financial landscape, the voices within China are not unified; instead, they present a complex picture of official caution, market enthusiasm, and public skepticism interwoven.
Optimism and Expectation
In the eyes of supporters, the RMB stablecoin carries great strategic significance.

Bitcoin explanation strongly recommended by President Trump

The digitalization of the Renminbi faces a dual situation of strict control in the mainland and active openness in Hong Kong. The mainland emphasizes financial sovereignty and capital control, promoting the development of the digital Renminbi (e-CNY), while Hong Kong attempts to build a regulated virtual asset center through stablecoin regulations. In this context, three parallel paths may emerge in the future, reflecting the complex interaction between regulation and innovation.

As the global Crypto Assets market surges, especially with the United States accelerating its embrace of this emerging field under the Trump administration, the Eastern giant China, however, has chosen a completely different path. An invisible "high wall" is being continuously reinforced and raised.
Recently, the People's Bank of China (PBOC) led a high-profile closed-door meeting in conjunction with twelve key national ministries and judicial institutions, including the Ministry of Public Security, the Central Cyberspace Administration, the Central Financial Office, the Supreme People's Court, the Supreme People's Procuratorate, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Justice, the State Administration for Market Regulation, the National Financial Regulatory Administration, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange. The signals released from the meeting are clear and strong: China will not only continue its strict prohibition on Crypto Assets that has been in place since 2021 but will also launch a new round of crackdown and blocking against virtual coin trading speculation activities with unprecedented intensity.
This event officially named "Crackdown on Virtual Currency"

The mayor of Vancouver, Canada bought a bottle of Coca-Cola with Bitcoin, claiming it to be the best-tasting Coca-Cola in history.

In the torrent of history, some chapters seem to be predetermined, yet they always reappear in unexpected ways. In 2021, the Chinese government, with a thunderous momentum and out of dual considerations for financial stability and energy security, comprehensively banned cryptocurrency mining activities. This ban caused China's mining industry, which once held half of the global Bitcoin computing power, to fall silent in an instant, with millions of mining rigs extinguishing their indicator lights overnight, resulting in an epic "great migration of computing power." However, four years later, a surprising reality is quietly emerging: not only has Bitcoin mining activity in China not disappeared, but it has also revived in a secretive and resilient manner, with its computing power share climbing to the third place globally.
This is not only a test of the policy red line, but also a complex game woven together by economic incentives, local tacit agreements, and technological realities.
Computing Power Landscape Reversion
According to the professional analysis agency Hashrate In

As Binance founder Zhao Changpeng (CZ) receives a presidential pardon, gradually fading from the public eye and enjoying a moment of tranquility, a new legal storm once again thrusts him and his encryption empire into the spotlight. Just as one wave subsides, another rises; this time the allegations are even more shocking, directly linking Binance to international terrorist activities, with claims amounting to a staggering one billion dollars.
The latest class action lawsuit was officially filed this Monday in the federal court of North Dakota, USA. The plaintiff lineup is large and special—over 300 American families who were killed or injured in the Hamas attack on October 7, 2023. They are suing Binance, founder Zhao Changpeng, and another executive, "Chief Financial Officer" Chen Guangying, under the Justice Against Sponsors of Terrorism Act.

In the wave of the global digital economy, Bitcoin mining has evolved into a massive industry that impacts geopolitics, energy consumption, and national security. Recently, a federal investigation codenamed "Operation Red Sunset" has put the world's largest Bitcoin mining rig manufacturer—Bitmain Technologies Ltd. from Beijing, China—under the spotlight. The U.S. government is conducting an in-depth review of the mining equipment (ASIC mining rigs) it produces, citing national security concerns that these devices, scattered throughout the U.S., could potentially become tools for espionage and even pose a threat to critical national infrastructure.
Red Sunset Operation
According to anonymous U.S. officials and informed sources, this investigation led by the Department of Homeland Security (DHS) has been ongoing for several months. The core objective of the investigation is to determine Bitmain.

The cryptocurrency market experienced severe fluctuations in November, with Bitcoin's price dropping sharply by 36% from its peak, leading to panic selling by retail investors. However, institutional investors increased their positions, demonstrating confidence in long-term value. The market faces a complex situation of macroeconomic changes and institutional capital inflows, and future trends depend on multiple factors.

Recently, the crypto assets market has been bleak, with Bitcoin (BTC), which once surged ahead, experiencing a tumultuous decline after reaching a historical high of $126,000. It even briefly fell below the important psychological level of $86,000, with a monthly decline exceeding 20%. Alts are in even worse condition, as the market's fear and greed index has dropped to an extreme fear low. Faced with this seemingly endless downward movement, investors are filled with immense questions: is this a severe yet healthy whipsaw in the middle of a bull run, or does it signal a fundamental reversal of the long-term trend, or even the beginning of a new bear market?
Comprehensive analysis from multiple sources indicates that the current market weakness is not caused by a single factor, but rather a "perfect storm" woven together by internal structural damage and external macroeconomic pressures.
flash crash aftereffects
Among many analyses, the "market maker liquidity crisis" proposed by BitMine Chairman Tom Lee.

In today's rapidly changing world of Crypto Assets, Ethereum co-founder Vitalik Buterin, known in the community as "V神", has once again made waves with his forward-thinking insights, dropping a bombshell for the entire industry. He not only expressed confidence in the security of Decentralized Finance (DeFi) in public, believing it can compete with traditional banking systems in certain aspects, but also took concrete actions by collaborating with the Ethereum Foundation to release the "Trustless Manifesto", aimed at recalibrating the direction for Ethereum's future development and ensuring that its core essence of "Decentralization" and "Anti-censorship" is not eroded. This series of actions is not only an affirmation of the current state of DeFi development but also a profound prophecy for the future financial paradigm.
Decentralized Finance and Banks
For a long time, traditional banks have relied on their large systems, strict regulations, and

A batch of up to 127,000 Bitcoins, a mysterious wealthy businessman in Cambodia, and the increasingly tense standoff between the two superpowers of China and the United States—these elements intertwine to form a crypto asset mystery that can be described as a "Rashomon". Recently, China's official cybersecurity agency publicly accused the U.S. government of orchestrating and stealing this asset, while the U.S. insists that this is a legitimate seizure action against transnational crime. Who truly owns this massive amount of Bitcoin worth hundreds of billions of dollars? What geopolitical struggles and digital sovereignty disputes are hidden behind it?
China's accusations
The trigger point of the event stems from a technical analysis report released by the China National Computer Virus Emergency Response Center (CVERC). The report directly points to the U.S. government as the mastermind behind the major Bitcoin theft case that occurred at the Chinese mining pool "LuBian" at the end of 2020.
According to the description in the report, December 2020

In the wave of global fintech, the application of Blockchain technology is quietly shifting from the controversial Crypto Assets to fields with more practical application value. Recently, a series of actions by Chinese tech giant Alibaba and its affiliate Ant Group have drawn the market's attention to a new and critical concept - "Deposit Token" or "tokenization of deposits." This not only signifies a disruptive transformation in the cross-border payment sector but also reflects how large tech companies cleverly seek Compliance innovation paths under strict regulatory environments.
It has been reported that Alibaba is collaborating with JPMorgan to utilize tokenized US dollars and euros for payments, while its affiliate Ant International is partnering with Swiss banking giant UBS to launch a tokenized deposit pilot in Singapore. This series of arrangements clearly indicates that a

When Hesperides University announced the launch of the world's first fully online "Bitcoin Master's" degree in November 2025, it was not just a small step for academia, but a significant leap for Bitcoin from the margins to the mainstream. This milestone event resonates with the growing trend of Crypto Assets education worldwide, prompting the question: Has a wave of Crypto Assets education led by higher education institutions truly arrived?
The answer may be more complex and diverse than imagined. This "craze" is not only reflected in a master's diploma; it integrates the curriculum of top universities, the real money from institutional investors, the strategic transformation of grassroots education programs, and the social demand to bridge the significant knowledge gap.
Bitcoin Master's Degree
For a long time, Bitcoin and the blockchain technology behind it have often been classified under "Crypto Assets" in the traditional academic system.

The current crypto assets market is facing a battle between long-term holders planning to sell and new institutional investors after experiencing a sharp fall and consolidation. Market sentiment is low, and technical indicators show an increased risk of a Bear Market. However, the expectations of liquidity and clearer regulations provide confidence for the bullish side. In the tug-of-war between bulls and bears, the market direction depends on the speed of liquidity release and political factors, with future uncertainty being the biggest variable.

The Legislative Yuan of Taiwan is engaged in intense inquiries regarding whether to investigate the possession of Bitcoin, discussing the possibility of incorporating it into strategic reserves, reflecting concerns over financial security and geopolitical risks. The "hold and not move" strategy proposed by the Legislative Yuan aims to use confiscated Bitcoins as reserve funds, while facing challenges of outdated regulations and public trust. Future policy directions will influence Taiwan's position in the global digital economy.

The Czech National Bank (Česká národní banka, CNB) has officially announced that it has historically made its first direct purchase of Bitcoin and other digital assets, initiating a "experimental digital asset investment portfolio" valued at $1 million. This move not only marks the cautious exploration of the crypto assets field by the Czech Central Bank but also makes it the first central bank globally to publicly acknowledge including Bitcoin directly in its balance sheet (albeit as unofficial reserves), with its symbolic significance far exceeding the actual scale of one million dollars.
Prudent Experimentation
Firstly, it is important to clarify that the Czech Central Bank's action is not a reckless speculation or a sudden policy shift. The total amount of the portfolio is only 1 million USD, which is a negligible proportion of its huge total assets, about 0.0006%. According to a blog post published by the Czech Central Bank, this decision was made by the bank's board of directors on October 3, 2025.

Video of "Bitcoin Rich Woman" Qian Zhimin's Arrest

A key ruling was recently made at Southwark Criminal Court in London regarding a century eyewash that spans both China and the UK, involving amounts up to tens of billions of pounds. Zhimin Qian, dubbed the "Queen of Bitcoin" by the media, was sentenced to 11 years and 8 months in prison for orchestrating and leading the largest money laundering case in UK history. Meanwhile, British police seized over 61,000 Bitcoins related to her, a vast fortune circulating in the digital world, which has now surged to a value exceeding £5 billion (approximately $6.4 billion), and its final vesting has become the focus of global attention.
This case not only reveals the astonishing scale at which Crypto Assets are used for illegal activities but also profoundly reflects a huge tragedy woven from human nature, patriotism, and financial illusions.
Patriotism Eyewash
The origin of the story can be traced back to China in 2014. At that time, Qian Zhimin