FTX founder SBF recently admitted to management errors and stated in an apology letter that the liquidity issues are severe. Although FTX's assets exceed customer deposits, they failed to respond promptly to large-scale withdrawals. He promised to improve transparency, is willing to resign, and is committed to remedial measures. This incident could impact the entire crypto assets industry.

Market panic escalates, follow the Decentralized Finance and AI Agent track.
Market Overview
Main market trends
Market Overview
The current market is in an extreme state of panic, with the sentiment index plummeting from 53% to 7%. The Federal Reserve's hawkish statements have caused rate cut expectations to drop from 4 times to 2 times, triggering approximately $1 billion in forced liquidations, indicating that the market is undergoing significant deleveraging.
Decentralized Finance ecosystem development
The DeFi sector has seen its first negative TVL growth in the past two months (-2.21%). However, the market value of stablecoins continues to grow ( USDT +0.55%, USDC +1.44%), indicating that despite the market correction, the underlying liquidity is still flowing in, and projects with stable returns like liquidity pools are in high demand.
AI Agent
The market size of the AI Agent track has reached 9.9 billion USD. The investment focus has shifted from speculative AI.

The Investment Path of On-Chain Data Researchers
Host: AlexMint Ventures Research Partner
Guest: Colin, Freelance Trader, on-chain Data Researcher
Recording time: 2025.2.15
Hello everyone, welcome to WEB3 Mint To Be. Here, we continuously question and deeply reflect, clarifying facts, exploring realities, and seeking consensus in the WEB3 world. We aim to clarify the logic behind hot topics, provide insights that penetrate the events themselves, and introduce diverse perspectives.
Disclaimer: The content discussed in this episode of the podcast does not represent the views of the institutions of the guests, and the projects mentioned do not constitute any investment advice.
Alex: This episode is a bit special because we have discussed a lot about specific tracks or projects before, and also exchanged some periodic narratives, such as when we talked about memes earlier.

Sei Network: The fusion of high-performance Layer 1 and parallel EVM
The Sei Network has begun to show vitality after months of silence, with its token price continuously rising and reaching new highs. Currently, the Sei liquidity staking has exceeded $3.5 million, and the total locked value of the network has surpassed $11 million. Previously, Sei successfully held a hackathon that attracted numerous developers to participate.
Sei is about to undergo an important V2 upgrade, improving parallel processing performance and introducing EVM. This article will analyze the technical characteristics and ecological projects of Sei Network and explore its potential opportunities.
Design features of Sei
Sei, as a Layer 1 focused on trading, offers a built-in central limit order book module. Developers can quickly build various order book trading applications while enjoying the high throughput brought by Sei's parallel design.
Sei through

On November 13, a public blockchain project was attacked by a Hacker, resulting in a loss of approximately 16.96 million USD. The attackers exploited vulnerabilities in smart contracts to transfer funds via a crypto tumbler. Security experts have identified the attacker's Address and are tracking key transactions. In addition, the attackers seem to have communicated with the project party, raising speculation about negotiations. This incident highlights the need for blockchain projects to strengthen security audits and protection mechanisms.

On-chain Financial New Wave: Ondo Finance Builds a Bridge Between Real World Assets and the Crypto Market
1. Market Background
The next wave in the blockchain world is not only about performance and throughput, but also about how to deeply integrate real-world assets with decentralized finance. The RWA track is leading the transformation from technology to assets, creating an unprecedented intersection between on-chain ecosystems and traditional wealth. Currently, RWA has risen to become the seventh major category in DeFi, with a total locked value exceeding 12 billion dollars.
U.S. Treasury securities are one of the most liquid financial assets in the world. They are backed by the "full faith and credit" of the U.S. government and have never defaulted in substance, making them a benchmark for zero default risk. Their yields are considered the risk-free rate in the industry, providing a reliable anchor for pricing and risk management of various assets.
The combination of the RWA track and U.S. Treasury bonds has become an off-chain asset.

Ethereum inscription: Innovation or regression?
Ethereum inscriptions ( Ethscriptions ) is a new way to create and share digital artworks on Ethereum, utilizing transaction calldata to achieve this. Compared to traditional NFTs, this method is more cost-effective and decentralized. The inspiration for inscriptions partly comes from Bitcoin inscriptions ( Bitcoin Inscriptions ), but it is easier to operate and does not require running a full node to participate.
inscription working principle
- Any successful Ethereum transaction, where the input data ( interpreted as UTF-8) is the only valid data URI, will create an inscription.
- Uniqueness refers to the fact that the content has not appeared in earlier transactions of previous blocks or in the early transactions of the current block.
- Transactions containing valid inscription transaction hashes can be regarded as inscription transfers, provided that the sender is the owner of the inscription.
Create inscription method
1. Pass

According to the latest data, the cryptocurrency market has experienced large-scale contract liquidations in the last 24 hours, totaling $424 million. Among them, the amount of long positions that were liquidated was $230 million, while the amount of short positions that were liquidated was $194 million. Specifically, for major cryptocurrencies, the total liquidation amount for Bitcoin was $59.8037 million, and the total liquidation amount for Ethereum reached $130 million. This data reflects the high volatility of the current cryptocurrency market, and investors should remain vigilant and practice Risk Management.

The 2024 Vietnam Web3 Summit was successfully held, bringing together experts from the global GameFi sector to discuss industry trends, showcase the importance of new Web3 games and technological innovations, emphasize Asia's advantages in the GameFi ecosystem, and promote the Capital Market's investment follow on GameFi.

Has the financial storm in Japan really calmed down? Where will the crypto market go from here?
Author: Arthur Hayes, former founder of BitMEX
Translation: Deng Tong
In the face of a sluggish market and electoral pressure, politicians often choose to print money and manipulate prices upwards. U.S. presidential candidate Kamala Harris is facing such a dilemma: how to deal with the potential global financial crisis triggered by the unwinding of massive yen arbitrage trades in Japan. She is likely to instruct Treasury Secretary Yellen to take monetary measures to avert the crisis, which means the printing press will start in some form.
Japanese companies (, including central banks, corporations, households, pension funds, and insurance companies ), have been engaged in large-scale yen arbitrage trading for a long time, borrowing low-interest yen to purchase high-yield foreign assets. The scale of this trading is immense, equivalent to 505% of Japan's GDP, with a risk exposure of up to 24 trillion dollars.
The biggest problem facing the Bank of Japan is how to orderly balance.

The LSD ecosystem has initially formed, primarily divided into DVT service providers, LST issuers, and LSDFi projects. In the future, the loan-to-value ratio is expected to rise steadily, the proportion of Decentralization platforms will increase, opportunities for Layer 2 development will multiply, and yields will return to rationality. The user base will gradually expand, and cross-layer products may become a trend. Overall, there is still significant development space.

The Intellectual Property Revolution in the Web3 Era: Innovations and Challenges of Story Protocol
In today's digital age, content creators face numerous challenges. Traditional platforms often profit from opaque revenue-sharing mechanisms, making it difficult for creators to receive fair compensation. Issues such as difficulty in rights protection, unfair revenue distribution, and complex authorization processes have long plagued creators.
To address these pain points, Story Protocol has emerged. It utilizes blockchain technology with the aim of fundamentally changing the way content creators interact with consumers, ensuring transparency in content ownership and fair distribution, allowing creators to focus on the creativity itself.
The core concept of Story Protocol
Story Protocol is a dedicated blockchain platform designed for intellectual property. It can tokenize various types of intellectual property, including creativity, images, and real-world assets.