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Zhao Changpeng: This year has not been a good year for the crypto field, but the progress of RWA and stablecoins is unexpected

Zhao Changpeng appeared on the podcast "Meanders" and discussed the pressures, adaptability, and lifelong motivation in the cryptocurrency field. When talking about pressure, Zhao Changpeng stated, "I generally do not set goals; I just do my best. This year the market is not good, so the company's performance may decline, but I have tried my best, I did not slack off, and I did not make any major mistakes. I handle problems in the same way.""No matter how difficult the problem is, I just try my best to deal with it. I also believe in simulation theory; I believe this world is simulated, so it’s like a game. It is simulated, but that does not mean this game is unimportant. However, in this game, I just need to do my best; you try your best to handle it, and after handling it, you can only wait, just lie back and win."Zhao Changpeng mentioned the industry, saying, "As for blockchain itself, I think the improvement in performance is still too slow. But because Bitcoin upgrades slowly, it is particularly stable, which is also an advantage. So there are advantages and disadvantages. Many of the ideas we had in the early days had many implementations, many that were not implemented, and many unexpected things happened."Regarding RWA, he said, "Even a year and a half ago, I would have doubted whether RWA could succeed, but now it is growing very fast. To be honest, I might have had some doubts about stablecoins five years ago, wondering how long they could last; at that time, I did not fully understand them. Stablecoins have their own uses. So these things are all things we did not think of before."

The risk of "exit difficulty" in the South Korean cryptocurrency market emerges: nearly 30% of assets among the five major exchanges can only be traded on one

According to South Korean media Daum, an analysis of the five major Korean won exchanges Upbit, Bithumb, Coinone, Korbit, and GOPAX, as well as the public API of CoinGecko, found that after excluding duplicate assets, the five exchanges collectively support approximately 606 types of crypto assets. Among them, 164 types (27.1%) are only available for trading on one exchange, and another 324 types (53.5%) are traded on two or fewer exchanges.Among the assets supported by a single exchange, Coinone has the most, with 55 types; Bithumb has 54 types, GOPAX has 25 types, Upbit has 16 types, and Korbit has 14 types. In terms of liquidity, the median trading volume of these 164 assets in nearly 24 hours is only about 1.37 million won, with 79 types having a trading volume of less than 1 million won, and 38 types even having zero transactions.The analysis suggests that listing on a single exchange does not inherently mean that the asset carries risk. If the relevant assets are actively traded on overseas exchanges or support smooth withdrawals, investors still have other exit channels. However, for assets with low overseas trading volume and restricted deposit and withdrawal networks, once support is terminated, investors may face difficulties in both selling and transferring.

Changxin Technology's revenue in the first half of the year was 150.31 billion yuan, a year-on-year increase of 873.64%

Changxin Technology released its 2026 semi-annual report, with revenue of 150.31 billion yuan in the first half of the year, a year-on-year increase of 873.64%; net profit attributable to shareholders was 77.61 billion yuan, compared to a loss of 2.33 billion yuan in the same period last year; net cash flow from operating activities was 131.16 billion yuan, a year-on-year increase of 2985.64%; gross profit margin was 84.84%, and R&D investment was 6.859 billion yuan, accounting for 4.56% of revenue. As of the end of the reporting period, total assets were 468.078 billion yuan, and net assets were 270.749 billion yuan.The company is the fourth largest DRAM IDM manufacturer globally and the largest in China, with products covering DDR5, LPDDR5/5X, LPDDR6, etc. It has collaborated with leading clients such as Alibaba Cloud, ByteDance, Tencent, Lenovo, Xiaomi, OPPO, and vivo, and the fifth-generation process technology platform is undergoing customer certification. As of June 30, the company held a total of 4,484 domestic patents and 3,400 foreign patents, with 7,491 R&D personnel, accounting for 33.42%. The company has no controlling shareholder or actual controller, with the largest shareholder, Qinghui Jidian, holding 21.67%. The company was listed on the Sci-Tech Innovation Board on July 27, with an issue price of 8.66 yuan per share, and its market value exceeded 3.5 trillion yuan on the first day of trading.

Shanghai police in China have arrested a gang engaged in cross-border illegal operations of virtual currency through a self-built platform, involving 200 million yuan

The Public Security Bureau of Hongkou District, Shanghai, China, recently solved a case involving cross-border illegal settlement and illegal foreign exchange trading using virtual currency, arresting 9 criminal suspects and involving an amount of over 200 million yuan. The suspects, including a person named Li, established a technology company at the beginning of 2024 to seek illegal profits, building two platforms online: "Cross-Border Fund Exchange" and "Virtual Credit Card Issuance and Settlement." They solicited customers both online and offline, illegally conducting exchange and settlement services for virtual currency and cross-border funds, profiting through transaction fees, service fees, card issuance fees, withdrawal fees, and other means.Investigators stated, "The uniqueness of this case lies in the fact that the criminals developed two apps and publicly solicited customers on such a large scale, which has never been seen before. The platforms built in this case are themselves a closed-loop illegal financial service system, with all transactions settled internally on the platform. This mode of crime has a higher degree of scale, a longer chain, and is more deceptive." Reports indicate that on the "Cross-Border Fund Exchange" platform, the criminal gang collected customers' virtual currency overseas and exchanged it for foreign currency, forming a "fund pool," and then realized cross-border settlement through fabricated contracts, achieving the exchange and transfer of virtual currency to RMB. On the "Virtual Credit Card Issuance and Settlement" platform, the criminal gang "cooperated" with several overseas private banks to issue virtual credit cards to customers, who could use the card for consumption, but the repayment process had to be settled in virtual currency; the gang exchanged virtual currency for foreign currency overseas, relying on false cross-border settlements to complete clearing with overseas card merchants.

Zhao Changpeng: It is difficult to predict the outbreak point of the next cycle, and we do not rule out large AI companies issuing tokens

Zhao Changpeng stated at the "Bitcoin Asia 2026" conference in Hong Kong that both the RWA and AI sectors are currently very strong. Stablecoins, centralized exchanges, decentralized exchanges, and Meme tokens, which have been growing, will continue to grow, and NFTs may return in some form. It is difficult to predict what the next breakout point will be, just as it was impossible to predict the coin issuance craze at the beginning of 2017 and the NFT craze six months before it exploded; these all require entrepreneurs to create.He also mentioned that the funds used by billions of AI agents for automated buying, selling, negotiating, and trading in the future will definitely be cryptocurrencies, likely starting with stablecoins, and then gradually integrating other public chain assets like Bitcoin. He has discussed the possibility of issuing tokens with several top AI companies, as building data centers requires huge amounts of capital, with the cost of 1 GW of computing power being about $30 billion to $50 billion. Some AI companies plan to build hundreds of GW of computing power in the coming years, so they are considering issuing data center tokens that would allow holders to gain rights to use computing power in the future. Additionally, the payment scenarios for AI agents may be implemented later than trading scenarios; currently, AI companies are more focused on helping agents find optimal trading solutions, while trading scenarios require AI to process information quickly, which can increase trading efficiency by about ten times.
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