11.28 AI Daily AI accelerates innovation and transformation in the Crypto Assets industry

1. Headlines

1. NVIDIA's entire workforce is “AI-driven,” Huang Renxun angrily rebukes opponents “Are you crazy?”

After Nvidia announced a record financial report, CEO Jensen Huang strongly promoted “AI transformation” at a company-wide meeting, demanding that “all work that can be automated should be handed over to AI.” He angrily rebuked some managers who asked employees to “use AI less” by saying, “Are you crazy?” He emphasized that the company will not lay off employees due to AI; instead, it is still hiring thousands worldwide and fully embracing the wave of AI.

Jensen Huang believes that AI will fundamentally change the way we work. Artificial intelligence can not only improve efficiency but also unleash human creativity. He candidly stated that we cannot hinder the development of AI; otherwise, NVIDIA will be eliminated from the industry. The company is making significant investments in AI chips, software, systems, and is strengthening collaborations with tech giants like Microsoft and Google.

Analysts point out that Jensen Huang's “AI transformation” strategy, while promising, also faces numerous challenges. AI technology still needs improvement and poses risks related to privacy, security, and ethics. Companies must balance AI development with human resource management to avoid exacerbating human-machine conflicts. At the same time, competition in the AI industry is fierce, and whether NVIDIA can maintain its leading position remains to be seen.

2. Australia’s heavy legislation on cryptocurrency regulation could release $24 billion in productivity dividends annually.

The Australian government has officially submitted the “Companies Amendment ( Digital Asset Framework ) Bill 2025,” establishing the country's first comprehensive regulatory framework for cryptocurrency exchanges and custodial platforms.

The new regulations require cryptocurrency companies to hold an Australian Financial Services License and be subject to oversight by the Securities and Investments Commission, while providing a transition period of 18 months for compliant companies. Treasurer Jim Chalmers stated that the legislation is expected to release $24 billion in productivity gains annually while strengthening investor protection, marking a new era in cryptocurrency regulation in Australia.

Analysis indicates that the bill will create a favorable environment for the cryptocurrency industry in Australia, attracting more institutional investors and innovative companies. At the same time, the clarity of regulation will also enhance consumer confidence and promote the mainstream adoption of crypto assets. However, existing companies will need to incur significant compliance costs during the transition period, which may exacerbate industry reshuffling.

In addition, there is still uncertainty regarding the tax policies for crypto assets. Regulatory agencies need to maintain positive interactions with the industry and develop practical and feasible rules to balance innovation and risk control. Only by creating an inclusive and prudent regulatory environment can Australia's crypto industry truly unleash its potential.

3. Up was attacked by hackers, losing approximately 44.5 billion KRW, with the mastermind possibly being a North Korean hacker organization.

The largest cryptocurrency trading platform in South Korea, Up, has suffered a hacker attack and discovered a security vulnerability that allows private keys to be inferred. It has suspended digital asset deposits and withdrawals. Up analyzed a large number of publicly available on-chain transaction records and found that approximately 44.5 billion won worth of assets were stolen, and is currently tracking and freezing the digital assets that were transferred out of the platform.

Up CEO Wu Jingxi publicly apologized, admitting that it was caused by poor safety management, with no excuses to offer. Up will report the cyber attack incident to the relevant authorities in South Korea according to relevant laws and regulations, and investigate the cause and scale of the incident.

The security company GoPlus analyzes that this attack incident has raised some serious issues, including hot wallet leaks and security vulnerabilities in the internal network, and the mastermind is believed to be the North Korean hacker group “Lazarus Group”. This organization is known for its complex money laundering methods, which may circumvent regulations through multiple routers.

Analysts say that while the Up cold wallet remains secure, the platform has been severely impacted, and user trust has been damaged. The incident once again highlights the importance of security measures for cryptocurrency exchanges, as a single line of defense is no longer sufficient. It is necessary to enhance risk control capabilities comprehensively through various aspects such as technology, management, and compliance.

4. Bitcoin whale inflows hit a record high, selling pressure may intensify.

According to analysts from CryptoQuant, in the past 30 days, the inflow of Bitcoin whale funds has reached $7.5 billion, the highest level in a year. The current surge in fund inflows is similar to the pattern during previous periods of high market volatility, when the price of Bitcoin fell from around $102,000 to a low of $70,000.

In these situations, whales usually transfer funds to exchanges to take profits or manage risks when the market weakens. Given that the 30-day fund inflow indicator is still rising, current data does not indicate that selling pressure has stabilized.

Analysis indicates that Bitcoin prices are encountering technical pressure around the $91,000 mark. If it breaks below the key support level of $89,000, it may further test the mid-term bullish-bearish watershed at $86,000. However, the long-term outlook for Bitcoin remains positive, with institutional funds continuing to flow in and applications such as crypto payments gradually taking shape.

Investors should closely monitor the market trends and seize the right timing for entry and exit. At the same time, it is important to hedge risks and not blindly chase highs. Only through rational investment can one profit in the future transitions between bull and bear markets.

5. The Ethereum ecosystem is facing scrutiny, and Vitalik Buterin needs to clarify the development direction.

Ethereum is undergoing an unprecedented wave of skepticism. Since the launch of the ETF, there has been a net sell-off, with capital outflows exceeding $1.2 billion. A huge trust crisis is emerging, spanning from Ethereum's core researchers and developer community organizations to ConsenSys-related commercial companies and external investors.

Vitalik needs to better guide different participants regarding direction and goals, as Ethereum has already become a very large decentralized commercial entity in both the entire cryptocurrency market and even the traditional market, with no such entity existing in history. The challenges for the entire Ethereum community and Vitalik will continue to grow increasingly severe, to the point of a “no pain, no gain” situation.

Analysts believe that the Ethereum ecosystem is facing multiple challenges. On one hand, the technological roadmap is under scrutiny, and the degree of decentralization and scalability remain pain points; on the other hand, the development of hot applications such as DeFi and NFTs is slowing down, lacking sustained innovation momentum.

At the same time, other public chain ecosystems are thriving, continuously eating into Ethereum's market share. To regain its leading position, Ethereum needs to continue innovating on multiple levels such as technology, applications, and community, and strengthen its integration with traditional financial institutions to truly achieve large-scale applications.

2. Industry News

1. Bitcoin is experiencing short-term fluctuations with both bullish and bearish trends, facing intense supply pressure at the 91000 level.

Bitcoin ( BTC ) continued its rebound on November 28, reaching a peak of $91,345. However, it faced intensive supply pressure around the $91,000 mark, with short-term bulls and bears struggling back and forth at high levels. Analysts point out that Bitcoin is currently constrained by technical pressure around $91,000, leading to increased short-term volatility. Support below focuses on the $89,000-$88,000 range; if this range is lost, there may be a further retracement to the $86,000 area, which serves as a medium-term dividing line for bulls and bears.

From a macro perspective, the prospects for Russia-Ukraine talks remain highly uncertain, with negotiations and military advancements occurring simultaneously, indicating that geopolitical risks have not materially eased. At the same time, the U.S. military and sanction actions in Latin America further elevate the uncertainty in energy, shipping, and credit markets. The geopolitical landscape shows a “dual main line warming” pattern, with the risk pricing logic of global funds shifting towards structural risks disturbed simultaneously across multiple regions. In the cryptocurrency market, the resurgence of risk-averse sentiment creates short-term pressure on high-volatility assets.

On-chain data shows that there are a large number of open contracts for Bitcoin around the 91000 mark. Once these positions are forcibly liquidated, it could trigger a wave of liquidity, exacerbating price fluctuations. Therefore, the liquidation chart shows to what extent the underlying price will be affected when it reaches a certain position. A higher “liquidation column” indicates that the price will react more strongly due to the liquidity wave after it reaches that point.

2. Ethereum has experienced three consecutive monthly declines, consolidating around the $3000 level.

Ethereum ( ETH ) experienced a significant decline this month but stabilized and rebounded towards the end of the month, currently oscillating around $3000. Options data shows that implied volatility has fully rebounded compared to last month, with the major expiry IV for ETH below 70%, which is a relatively high level this year. Analysts point out that due to factors such as macroeconomic uncertainty, the market performance in the fourth quarter of this year is expected to be poor, with significant market divergence, and it is not recommended for investors to engage in leveraged operations.

In terms of market sentiment, Ethereum experienced three consecutive monthly declines in November, reflecting significant divergence among investors regarding future trends. Some institutions believe that Ethereum faces considerable resistance within its upward channel, making it difficult to sustain a significant rise in the short term. However, there are also analysts who hold an optimistic view on Ethereum's long-term prospects, believing that as a leading smart contract platform, it still has ample room for development in application areas such as DeFi and NFTs.

Overall, Ethereum is likely to fluctuate and consolidate around the $3000 line in the short term. Investors need to closely monitor changes in the macro situation, regulatory policy trends, and innovations in industry applications to prudently grasp investment opportunities. At the same time, due to the volatility of the cryptocurrency market, investors should also pay attention to risk control and reasonably diversify their investment portfolios.

3. The Solana ecosystem continues to heat up, SOL price rebounds in the short term.

The Solana ecosystem continues to heat up, with a short-term rebound in the price of SOL. Data shows that in the past 24 hours, the price of SOL has increased by 3.2%, reaching $34.7. Analysts point out that the continued increase in activity within the Solana ecosystem is the main reason for the rebound in SOL prices. Recently, several well-known projects, such as OpenAI, have joined the Solana ecosystem, promoting its development.

At the same time, the Solana ecosystem also faces some challenges. Issues such as network congestion and high transaction fees still need to be addressed. In addition, Solana experienced multiple network outages last year, raising concerns about its security. However, the Solana Foundation is increasing its investment to enhance network performance and security.

Looking ahead, analysts believe that SOL's short-term rebound momentum may continue. However, in the medium to long term, whether Solana can truly become an “Ethereum killer” still needs time to be tested. Investors should closely monitor the development trends of the Solana ecosystem and cautiously seize investment opportunities. At the same time, due to the extreme volatility of the cryptocurrency market, investors also need to pay attention to risk control and reasonably diversify their investment portfolios.

4. The supply of stablecoins continues to rise, which may drive the next round of Bitcoin market.

The research report indicates that stablecoins, as the main source of liquidity in the crypto market, often see their supply growth precede the price increase of Bitcoin. Data shows that during the bull market in 2021 and the market recovery period in 2024-2025, the growth of stablecoin supply clearly preceded the price rise of Bitcoin.

The CryptoQuant research team stated that the current supply of stablecoins is at a historical high, indicating that the underlying purchasing power in the market continues to strengthen, which could become an important driving force for the next price movement of Bitcoin.

Analysts believe that the growth in stablecoin supply reflects a rebound in investor confidence in the cryptocurrency market. With more funds flowing into the crypto market, the prices of mainstream coins like Bitcoin may see a new round of upward trends. However, there are also viewpoints that the increase in stablecoin supply may not directly translate to an increase in demand for coins like Bitcoin, and the correlation between the two still needs further observation.

Overall, the changes in the supply of stablecoins are worth continuous attention from investors. At the same time, investors should closely monitor the impact of macroeconomic conditions, regulatory policy trends, and other factors on the cryptocurrency market, prudently seize investment opportunities, and manage risks.

3. Project News

1. Apro Oracle: AI Enhanced Oracle 3.0, total collateral value 1.5 billion USD

Apro Oracle is an AI-enhanced oracle 3.0 project focused on prediction markets. The project aims to break the limitations of traditional oracles by covering over 40 public chains and establishing secure standards for data communication between AI Agents.

Apro Oracle has recently launched the ATTPS protocol for predicting market events and other unstructured assets. This protocol establishes security standards for data communication between AI agents, ensuring the reliability and accuracy of data. Apro Oracle's total collateral value reaches up to 1.5 billion dollars, showcasing its strength in the predictive market field.

The innovation of this project lies in the combination of AI technology and oracles, which improves the accuracy and efficiency of predictions. Traditional oracles usually rely on centralized data sources, while Apro Oracle utilizes distributed AI models for predictions, thus enhancing the reliability and censorship resistance of the data.

The emergence of Apro Oracle has brought new development opportunities to the prediction market. With the continuous advancement of AI technology, the prediction market is expected to receive more accurate and efficient services. Industry insiders believe that Apro Oracle is likely to become a leader in the prediction market, driving innovation and development across the industry.

2. Gensyn: We native computing platform, promote the integration of AI and blockchain.

Gensyn is a We native computing platform aimed at promoting the integration of AI and blockchain technology. The project has recently released the technical details of its computing network, attracting widespread attention within the industry.

As a distributed computing network, Gensyn allows anyone to contribute computing resources and earn token rewards. The platform employs an innovative consensus mechanism and incentive model, ensuring efficient execution of computing tasks and fair distribution. Compared to traditional cloud computing, Gensyn offers more decentralized, transparent, and cost-effective computing services.

The innovation of Gensyn lies in the combination of AI and blockchain technology. The platform can not only perform traditional computing tasks but also supports the training and inference of AI models. This provides new possibilities for the development and deployment of AI applications, with the potential to promote the widespread application of AI technology in the blockchain field.

Industry insiders believe that Gensyn is poised to become a key infrastructure for the integration of AI and blockchain. As AI technology continues to permeate various industries, the demand for high-performance, secure, and transparent computing resources will continue to grow. The emergence of Gensyn provides an innovative solution to address this issue.

3. Hyperbolic: Distributed computing network, promoting the integration of AI and blockchain.

Hyperbolic is a distributed computing network aimed at promoting the integration of AI and blockchain technology. The project has recently released the technical details of its computing network, attracting widespread attention within the industry.

As a distributed computing network, Hyperbolic allows anyone to contribute computing resources and receive token rewards. The platform employs an innovative consensus mechanism and incentive model, ensuring efficient execution of computing tasks and fair distribution. Compared to traditional cloud computing, Hyperbolic offers more decentralized, transparent, and cost-effective computing services.

The innovation of Hyperbolic lies in its combination of AI and blockchain technology. This platform not only executes traditional computing tasks but also supports the training and inference of AI models. This provides new possibilities for the development and deployment of AI applications, with the potential to promote the widespread use of AI technology in the blockchain field.

Industry insiders believe that Hyperbolic is expected to become a key infrastructure for the integration of AI and blockchain. As AI technology continues to permeate various industries, the demand for high-performance, secure, and transparent computing resources will continue to grow. The emergence of Hyperbolic provides an innovative solution to address this issue.

4. Title.xyz: Midjourney style image/video generation model

Title.xyz is an AI project focused on image and video generation, aiming to replicate the artistic style of Midjourney. The project has recently released the technical details of its image generation model, attracting widespread attention within the industry.

Title.xyz utilizes cutting-edge deep learning technology to generate realistic images and videos based on text descriptions. Similar to Midjourney, the project's model can capture the subtle details and emotions in artworks, thereby creating works with a unique style.

The innovation of this project lies in the combination of AI technology and artistic creation. Traditional artistic processes usually rely on human input, whereas Title.xyz utilizes AI models to automatically generate artworks, greatly improving the efficiency of creation. At the same time, this project also provides a decentralized platform that allows anyone to upload and share their works.

Industry insiders believe that Title.xyz is likely to become a leader in the field of AI art creation. With the continuous advancement of AI technology, artworks created by artificial intelligence will become increasingly common. The emergence of Title.xyz provides a brand new creative platform for artists and enthusiasts, which is expected to drive innovation and development across the entire industry.

4. Economic Dynamics

1. The Federal Reserve's expectations for a rate cut in December are heating up, and gold futures soar.

Economic background: Recent inflation data shows that inflationary pressures in the United States have eased somewhat, but remain above the Federal Reserve's target level of 2%. The annualized quarter-on-quarter GDP growth in the United States for the third quarter was 2.9%, higher than expected. The job market remains robust, with an unemployment rate of 3.7% in October.

Important event: Federal Reserve Chairman Jerome Powell reiterated in his speech on November 23 that he will continue to raise interest rates until inflation shows a clear cooling. However, he also stated that the pace of future rate hikes may slow down. This has sparked market expectations that the Federal Reserve may raise rates by 50 basis points at its December meeting.

Market reaction: The cooling expectation of the Federal Reserve's interest rate hike led to a rebound in risk assets. Spot gold futures surged nearly 2% on Thursday, breaking through $1780 per ounce. Analysts believe that if the Federal Reserve only raises interest rates by 50 basis points in December, it will support gold's continued upward trend.

Expert Opinion: Goldman Sachs analysts state that the pace of interest rate hikes by the Federal Reserve is in line with expectations, but there remains uncertainty regarding the inflation outlook. They anticipate that the Federal Reserve will end its rate hike cycle in the first half of 2023, at which point the federal funds rate will reach a peak level of 5%-5.25%. Wells Fargo Investment Institute believes that the potential dovish shift by the Federal Reserve, a weakening dollar, and changes in investment logic for popular sectors such as AI may create favorable conditions for alternative assets like gold.

2. European Central Bank officials hint at continuing significant interest rate hikes

Economic Background: The inflation rate in the Eurozone reached 10.6% in October, setting a new historical high. The GDP growth in the third quarter was 2.1% year-on-year, lower than expected. The job market remains robust, with an unemployment rate of 6.5% in October.

Important event: Isabel Schnabel, a member of the European Central Bank's Governing Council, stated in a speech that inflationary pressures continue to spread, and the central bank needs to continue to raise interest rates significantly to curb inflation expectations. Her remarks are seen as suggesting that the European Central Bank will again raise rates by a substantial 50 basis points in December.

Market reaction: Schneider's hawkish comments have caused the euro to rise slightly against the dollar. European stock markets fell, as investors worry that interest rate hikes will further impact economic growth. The yield on Germany's 10-year government bonds rose to 1.98%.

Expert Opinion: Analysts at Deutsche Bank indicate that Schneider's remarks suggest the European Central Bank will raise interest rates significantly by another 50 basis points in December and push rates above 3% in early 2023. They expect the Eurozone economy to enter a mild recession in 2023. Société Générale, on the other hand, believes that the European Central Bank will end its rate hike cycle in the first half of 2023.

3. Strong consumption data for Thanksgiving in the U.S., retail stocks soar.

Economic background: The core inflation rate in the U.S. for October is 6.3% year-on-year, higher than expected. The annualized quarter-on-quarter GDP growth for the third quarter is 2.9%, also higher than expected. The job market remains robust, with the unemployment rate in October at 3.7%.

Important Event: Retail data from the U.S. Thanksgiving holiday shows that consumer spending on Black Friday and Cyber Monday reached new highs. According to Adobe Analytics, online spending on Cyber Monday reached $10.9 billion, a year-over-year increase of 5.8%.

Market reaction: Strong consumer data has boosted investors' confidence in the outlook for the U.S. economy. The S&P 500 retail stocks surged 2.5% on Thursday, leading the overall market. Retailers like Amazon and Walmart saw their stock prices rise significantly.

Expert Opinion: Analysts at Bank of America Merrill Lynch indicate that strong holiday spending data suggests that American consumers still have robust spending power, which will support the economy in avoiding a recession in 2023. Goldman Sachs, however, believes that despite high inflation, a strong job market will support consumer spending. Nevertheless, they expect consumption growth to slow down in 2023.

5. Regulation & Policy

1. The EU has announced new rules requiring cryptocurrency companies to share user transaction data.

The European Commission recently announced a new set of rules requiring cryptocurrency companies operating in the EU to report user transactions and holdings in a standardized format. This initiative aims to strengthen the regulation of crypto assets and enhance transparency.

According to the new regulations, cryptocurrency exchanges, wallet providers, and other crypto asset service providers are required to report users' transaction records and balance information to the regulatory authorities of their respective countries. The report will include detailed data such as user identity, transaction amount, counterparties, and more. Regulatory agencies in various countries will gain broader access to user data.

The European Commission stated that the introduction of this rule is to address the risks of money laundering and tax evasion associated with crypto assets. As the adoption rate of cryptocurrencies continues to rise in Europe, it is necessary to strengthen regulation to protect investor rights. However, this approach has also raised concerns about privacy issues.

The European Securities and Markets Authority ( ESMA ) may be designated as the leading authority for cryptocurrency regulation, centralizing regulatory work across the EU. Industry insiders believe that the implementation of this rule will increase compliance costs for crypto companies, which may prompt some firms to leave the European market.

2. The UK plans to introduce a “no gains, no tax” rule for DeFi users.

The UK government recently announced a long-awaited proposal that will introduce a “no gain, no loss” tax treatment for many common decentralized finance ( DeFi ) activities, including lending and providing liquidity.

This proposal has received support from major institutions in the industry, aiming to align tax rules with the actual operational mechanisms of DeFi, reduce the administrative burden on users, and avoid tax results that do not reflect economic substance.

According to the proposal, users engaged in lending or providing liquidity in DeFi protocols will not be required to pay income tax or capital gains tax as long as they have not realized any gains or losses. This differs from the current practice of treating these activities as taxable events.

The UK government stated that the introduction of this rule will create a more favorable environment for the DeFi sector, attracting more innovative projects to settle in the UK. At the same time, it will also ease the tax burden on users and enhance the appeal of DeFi products.

However, the proposal may exclude tokenized real-world assets ( RWAs ) and traditional securities, and may require users to report large transactions. The UK government will continue to consult with industry stakeholders to refine the rules.

Industry insiders welcomed this. Aave founder Stani Kulechov believes that the existing “financial promotion” rules make it difficult to build compliant stablecoins and embedded DeFi products in the UK, and the new rules will help drive innovation.

3. Australia submits cryptocurrency regulation bill, potentially releasing $24 billion in productivity dividends annually.

The Australian government has officially submitted the “Company Law Amendment ( Digital Asset Framework ) Bill 2025” to Parliament, establishing the country's first comprehensive regulatory framework for cryptocurrency exchanges and custodial platforms.

According to the contents of the bill, all businesses engaged in digital currency trading and custody in Australia must hold the Australian Financial Services License (AFSL) and be regulated by the Securities Investment Commission (ASIC). The bill provides a transition period of 18 months for compliant businesses.

Finance Minister Jim Chalmers stated that the bill aims to strengthen investor protection while creating a favorable regulatory environment for the cryptocurrency industry. He cited data from a research report indicating that this regulatory framework is expected to unlock $24 billion in productivity gains for Australia each year.

This marks the official entry of cryptocurrency regulation in Australia into a new era. Previously, there was a regulatory vacuum in this field, and cryptocurrency companies operated in a gray area. The introduction of the new bill will inject certainty into the industry’s development.

Industry insiders generally welcome this. Alex Miwitc, co-founder of an Australian cryptocurrency exchange, believes this is a positive development that will help attract more investors and businesses to the Australian crypto market.

However, some people are concerned that regulation may be too strict. Cryptocurrency analyst Martin Baer stated that the strength of regulation needs to strike a balance, protecting investor rights while not stifling innovation.

4. The South African Reserve Bank has classified crypto assets and stablecoins as structural risks.

The South African Reserve Bank ( SARB ) has included crypto assets and stablecoins in a new monitoring risk category due to a massive surge in local crypto adoption.

The SARB pointed out in its latest “Financial Stability Review Report” that crypto assets and stablecoins have been classified as “structural risks” that require close monitoring. The report states that the adoption rate of crypto assets in South Africa has seen a “significant increase” over the past year, which could pose risks to financial stability.

The report also specifically mentioned stablecoins, stating that they may weaken the effectiveness of central bank monetary policy transmission. The SARB indicated that it will continue to assess the impact of stablecoins on the financial system and take action when necessary.

Jonathon Werner, the CEO of South African cryptocurrency exchange Ovex, expressed his understanding of this. He believes that central banks have a responsibility to closely monitor the impact of emerging financial instruments on the economy. However, he also urged central banks to maintain communication with the industry when formulating regulations to ensure the reasonableness of regulatory measures.

On the other hand, cryptocurrency analyst Richard Brown holds a different view. He believes that the central bank's concerns about crypto assets are unwarranted, as their influence in the South African financial system is still limited. He suggests that the central bank should first study the operational models of crypto assets instead of directly categorizing them as a risk.

5. Polygon executives: The number of stablecoin issuers may exceed 100,000 in the next five years.

Aishwary Gupta, the Global Head of Payments and RWA at Polygon, recently stated in a speech that global stablecoins are entering a “super cycle,” and the number of stablecoin issuers could exceed 100,000 within the next five years.

Gupta pointed out that Japan is participating in government bonds and policy stimulus pilots through stablecoins like JPYC, proving that stablecoins can become tools of national economic sovereignty rather than undermining central bank power. He stated that stablecoins are influenced by monetary policy just like fiat currency, and essentially enhance the global demand for a country's currency, similar to how stablecoins boost the usage of the dollar.

Gupta also warned that stablecoin yields are attracting low-interest deposits in the banking system ( CASA ) to flow on-chain, weakening banks' ability to create credit and maintain low-cost capital. In response to the competition, he expects that banks will issue “deposit tokens” on a large scale to keep funds on their own balance sheets while allowing customers to use assets on-chain.

This viewpoint has sparked heated discussions in the industry. Cryptocurrency analyst Michael van de Poppe believes that Gupta's prediction is not exaggerated. He pointed out that as regulations become clearer, stablecoins will become the entry point for governments and enterprises to enter the crypto space.

However, some people are concerned about the surge of stablecoins. Former Goldman Sachs banker Raoul Pal believes that this could exacerbate the “dollarization” of the financial system, further strengthening the dollar's dominant position globally. He advises governments to be cautious of this risk when issuing stablecoins.

Overall, the future development prospects of stablecoins are broad, but potential risks must also be given high attention, and reasonable regulatory policies should be formulated.