1. Why is LABUBU, the meme coin derived from Labubu toys, so difficult to escape extinction?

Pop Mart, the company that produced Labubu, saw its stock price soar 10 times in 2024, and its increase so far this year has exceeded 200%, with a market value of more than HK$350 billion. Its founder Wang Ning has thus become the new richest man in Henan, China. As of the end of last year, the company had 401 stores in mainland China, 130 stores in Hong Kong, Macao, Taiwan and overseas (including joint ventures), covering more than 30 countries and regions, with Hong Kong, Macao, Taiwan and overseas revenue accounting for more than 38%. Its meme coin of the same name, LABUBU, was once popular, but today its market value has fallen below US$28 million, now at US$27.89 million, a 24-hour drop of 20.4%. Click to read

2. In-depth analysis of Spark: Active capital allocator in the DeFi field

In the past, banks relied on physical certificates and suffered large-scale bankruptcies due to inefficient intermediary structures. Today's financial system continues this complexity and operates under an indirect ownership model. As tokenized assets and stablecoins become the new core of global finance, banks are facing a moment of transformation. Click to read

3.Insights4.vc: The current state of venture capital and stablecoins in 2025

Over the past decade, large funds have expanded rapidly, but a group of "zombie unicorns" (startups with valuations of more than $1 billion but lack clear exit prospects) and a long-term sluggish IPO/M&A market have made portfolios illiquid. Limited partners (LPs) are facing a liquidity crunch, as evidenced by the billions of dollars in secondary market share sold by universities such as Harvard and Yale. At the same time, the hype in the field of generative AI has attracted a large influx of capital, delaying the overall adjustment of the market. Bill Gurley warned that the liquidity cycle of the private equity market is being stretched to an unprecedented length, with private equity giants replacing public listings with pre-booked transactions (such as Stripe's large-scale private equity financing), and companies are also delaying or even abandoning IPOs. Click to read

4. How does war affect Bitcoin? Five-year price trajectory in-depth analysis

From Ukraine to Iran, the investment logic and role evolution of Bitcoin under geopolitics. In the early morning of June 13, 2025, Israel launched Operation Lion Rise, attacking several Iranian cities, military bases and nuclear facilities. Recently, Iran's largest crypto exchange Nobitex was hacked by Israeli hackers, resulting in tens of millions of dollars in stablecoin losses. Bitcoin fluctuated quietly in the smoke, rising all the way to nearly $110,000 before falling again. From the many major wars and conflicts that occurred between 2020 and 2025, we can observe the sensitivity of Bitcoin prices to geopolitical events. This article will deeply analyze the impact of major wars and conflicts on Bitcoin price trends in the past five years, as well as the recovery trajectory of the crypto market after the end of past wars. Click to read

5. Wall Street's new darling: After BTC and ETH, why did corporate treasuries start to gamble on Solana?

A seemingly ordinary announcement has cast a meaningful stone on the intersection of cryptocurrency and traditional finance. On June 19, Canadian listed company SOL Strategies Inc. (CSE: HODL) submitted a Form 40-F registration statement to the U.S. Securities and Exchange Commission (SEC), planning to list on the Nasdaq capital market with the code "STKE". This is not only a company's capital operation, but also a microcosm of an emerging trend. Click to read