Original article: TheRoundTrip
Compiled by Yuliya, PANews
At the intersection of crypto and AI, the truly important stories often lie hidden beneath the noise. To uncover these overlooked truths, PANONY and Web3.com Ventures have partnered to launch the English-language video series "The Round Trip." Co-hosted by John Scianna and Cassidy Huang, this episode will focus on the controversy surrounding the Trump family's crypto project, WLFI, the fierce competition in Hong Kong's stablecoin market, and the successful breakthroughs of NFT projects.
*Note: This video was released on September 8th. Some data and dynamics may differ from the current situation.
TL;DR:
The WLFI controversy escalates: The Trump family's World Liberty Financial token launched on Labor Day in the US with an initial price of $0.30, reaching a market capitalization of $7 billion, briefly ranking among the top 31 by market capitalization. Trading volume exceeded $1 billion within the first hour of launch. Justin Sun's wallet was blocked by officials for transferring $9 million in WLFI to HTX. He claimed it was a "test deposit," but the market questioned it. The price of WLFI subsequently plummeted to $0.18. The project, tied to governance and the stablecoin USD1, is considered not only a speculative asset but also a matter of prestige for the Trump family.
Hong Kong's Stablecoin Wars: Licensed financial services company Solowin acquired AlloyX for $350 million, despite its own market capitalization of only $150 million. The company is actively developing a stablecoin super app, targeting markets in Africa, Asia, and the Middle East. It also holds a 19% stake in Singapore's GPL remittance company, furthering its regulatory and international expansion. With the stablecoin market capitalization reaching $283 billion and annual trading volume exceeding $20 trillion, Hong Kong is becoming a new battleground in the global stablecoin competition.
Pudgy Penguins' success: The NFT project Pudgy Penguins launched the casual game "Pudgy Party," co-developed with Mythical Games. It reached number four on the iOS racing game chart. Linked to plush toys sold at Walmart and Target, players can redeem codes to unlock in-game features, making it a prime example of Web3 projects entering mainstream consumption.
