"Crypto world is unguarded" Issue 14: A Barometer of Industry Trends for Web3 Integration and Native Development

On the evening of June 27, 2025, at 19:30, the "Crypto World Unarmed" 14th episode Space, jointly organized by Techub News, Uweb, and Chain Intelligence, ignited the enthusiasm of the Web3 community as scheduled. This program, characterized by open dialogue, is co-hosted by Techub News host Krystal and Chinese Web3 professional host Qia Ge. They invited three guests: Joe, CFO of HAG; Jerry, founder of m&WDAO; and Henry, Compliance Consultant at Shanghai Mankun (Shenzhen) Law Firm. The program delves into topics such as the integration of Web3 and TradFi, the debate over the centralization and decentralization of stablecoins, the impact of Trump policies, the evolution of DAO, and the value of DOGE, bringing the audience a feast of ideological collision.

The Integration of Web3 and Traditional Finance: Hong Kong's Policy Ignites a New Engine

The integration of Web3 and TradFi has become a hot topic in the industry. Hong Kong, with its rapid advancement of RWA (real-world assets) and stablecoin policies, is becoming a stronghold for global Web3 development. Guests unanimously agree that integration is not only a catalyst for capital influx but also an essential path for the digital transformation of the global economy. However, how to balance Compliance and innovation remains key.

Joe uses the compliance experience of North American mining company HAG as a starting point, pointing out that Hong Kong's policy breakthroughs in the RWA and stablecoin sectors have sparked market enthusiasm, causing crypto concept stocks to rise. He emphasizes that Trump's "Genius Bill" breaks the funding barriers between TradFi and Web3, injecting liquidity into the industry. Joe believes that Hong Kong's compliance framework is the first step towards the stars and the sea, but more native tokenized assets need to be implemented to bridge the knowledge gap that traditional industries have regarding crypto assets. From a media perspective, Joe's views reveal how compliance can open the doors of traditional finance to Web3, with Hong Kong's policy dividends becoming a focal point of global attention.

Jerry approaches the grand narrative of civilizational iteration, stating that the integration of traditional finance and the crypto world will be the main theme in the next 5-10 years, and that Hong Kong's RWA policy provides a strategic opportunity for the digitalization of the Renminbi. He warns that while integration is important, the development of the Web3 native market is more crucial for long-term competitiveness, and Hong Kong needs to increase its investment in the native ecosystem. Jerry's m&WDAO is committed to uniting industry builders to promote technological breakthroughs. From a media perspective, Jerry's discourse highlights Hong Kong's unique position in the global Web3 landscape, and his call for the native market serves as a wake-up call for innovation in the industry.

Henry analyzes from the perspective of legal compliance that centralized regulation is the cornerstone for attracting traditional funds into the market, and the Hong Kong stablecoin bill provides a sandbox space for the industry to take root. He believes that the decentralized foundation of Web3 is unshakeable, but current centralized governance can better stimulate market confidence. Henry's viewpoint highlights Hong Kong's leading position in the global Web3 regulatory competition. From a media perspective, his analysis provides clear guidance for practitioners: compliance is the passport for integration, but one must be wary of excessive centralization eroding the spirit of Web3.

The Centralization vs Decentralization Debate of Stablecoins: The Game of Trust and Efficiency

Stablecoins serve as a bridge between Web3 and the real world, and the choice between centralization and decentralization has sparked heated discussions. Guests believe that centralized stablecoins enjoy greater market trust and liquidity due to regulatory backing, but the concept of decentralization remains the soul of Web3. The industry needs to find a balance between the two to cope with the dual challenges of global payments and the digitization of sovereign currencies.

Joe is optimistic about centralized stablecoins like USD1, as they are backed by the Trump family and government support, providing a strong trust endorsement, which is suitable for the current market's demand for liquidity. He believes that the decentralized payment scenarios of DOGE have been replaced by stablecoins, and centralized institutions are more easily accepted by TradFi due to their reputation. From a media perspective, Joe's stance reflects the market's real demand for trust and efficiency, and the heated discussion around USD1 highlights the amplifying effect of political influence in the crypto market, indicating that the industry needs to pay attention to the rising trend of compliance stablecoins.

Henry believes that centralized stablecoins (such as USDC) can better meet the liquidity demands of payment scenarios due to regulatory intervention and capital reserves, addressing risk issues (like the Luna crash). He points out that decentralization is the foundation of Web3, but at the current stage, centralized governance is more capable of attracting the public and capital into the market. The stablecoin bill in Hong Kong provides a compliance opportunity for the industry. Henry emphasizes that stablecoins need to build trust in commercial scenarios; the centralized model has more advantages in the short term, but the concept of decentralization cannot be abandoned. It is necessary to promote a balanced development of both through technological breakthroughs and educational outreach.

Jerry analyzes from the perspective of the digitization of sovereign currencies, believing that the Hong Kong dollar stablecoin has strategic significance in the internationalization of the Renminbi and needs to counter the dominance of the US dollar (e.g., USD1). He points out that the core value of stablecoins lies in the digitization of sovereign fiat currencies, rather than merely in commercial payment scenarios. Jerry emphasizes that Hong Kong's RWA and stablecoin policies provide a foundation for integration, but the spirit of Decentralization remains the future of Web3. He believes that stablecoins need to combine blockchain and AI to promote the construction of a digital civilization order. m&WDAO is committed to uniting Web3 builders to explore new economic forms through decentralized mechanisms, striving to secure a place in the global competition.

The Impact of Trump Policies on Web3 and the Global Economy: How Business Logic Reshapes the Industry Landscape

Trump's policies (such as pardoning the Silk Road founder and issuing USD1) have become a catalyst for breaking the Web3 barrier, with his business logic and political maneuvering extending "life" to the U.S. economy while reshaping the global financial order. Guests analyze the controversies and opportunities of his dual identity, revealing the industry trends driven by policy.

Joe believes that Trump's "Genius Bill" connects TradFi and Web3 through a Compliance framework, addressing the U.S. debt issue and enlarging the global economic "bubble." He points out that Trump's policies alleviated the liquidity crisis following FTX, promoting the transformation to a digital dollar, with his entrepreneurial mindset accurately capturing market pain points. From a media perspective, Joe's analysis reveals the short-term benefits and long-term impacts of Trump's policies on Web3, suggesting that the acceleration of dollar digitization may reshape the global financial landscape, and the industry needs to be wary of bubble risks driven by policy.

Henry pointed out that Trump holds the dual identity of "athlete and referee." The issuance of USD1 by his family has sparked regulatory controversy, but his high-profile participation effectively promotes breaking the industry barriers and attracts attention from outside the Web3 circle. He believes that Trump captures the public's attention through meme coins and stablecoins, accelerating the transformation to a digital dollar. Media interpretations suggest that Henry's viewpoint highlights Trump's marketing strategy as a driving force for the industry's popularity, but his dual identity also raises alarms for regulatory transparency, emphasizing the need for the industry to balance policy dividends and compliance challenges.

Jerry emphasized that Trump's policies strengthen the digitalization of the dollar, which may consolidate the dollar's hegemony and have a profound impact on the sovereign world economic order. He calls for Hong Kong to promote the internationalization of the Renminbi through the Hong Kong dollar stablecoin, striving for a place in the global game. Jerry's m&WDAO is committed to uniting Web3 builders, combining AI and blockchain to construct a digital civilization order. From a media perspective, his discourse places Trump's policies within the grand narrative of global financial competition, highlighting Hong Kong's strategic opportunities and reminding the industry to maintain original innovation amidst the policy wave.

The evolution of DAO and the development of the Web3 native market: transformation from ideas to tools.

The DAO has evolved from an early decentralized utopia to a Web3 project management tool, and its potential in uniting industry builders and promoting the fusion of blockchain and AI has attracted significant attention. Guests believe that the DAO needs to adapt to the trend of integration while adhering to the core values of native market development.

Jerry pointed out that DAOs have transformed from being ideology-driven (like the early Ethereum DAO) to Web3 management tools. m&WDAO aims to unite builders to promote the integration of blockchain and AI, constructing a digital civilization order. He believes that Hong Kong's RWA policies provide a foundation for this integration, but the development of the native market is more critical, requiring technological breakthroughs and ecosystem building. From a media perspective, Jerry's views indicate the future direction of DAOs, and his emphasis on the integration of AI and Web3 signals a new trend in the industry. Hong Kong needs to address the shortcomings of the native market to maintain competitiveness.

Joe believes that DAO represents the spirit of Decentralization, but its appeal has diminished under the current bear market and the dominance of centralized funding. He predicts that after the market matures, DAOs may experience a revival due to the demand for order, evolving into mechanisms that combine centralized efficiency with the spirit of Decentralization. Joe emphasizes that the long-term value of DAOs lies in community governance, while in the short term, they need to adapt to Compliance requirements. Media interpretations suggest that Joe's analysis reflects the market's realistic pursuit of efficiency, and the trend of DAO integration provides the industry with a path that balances ideals and reality.

Henry pointed out that DAOs embody the idea of Decentralization, but current centralized governance is needed to attract funding due to the public's insufficient understanding of consensus. He believes that the Hong Kong 2.0 declaration provides fertile ground for DAO development through funding entrepreneurship and industry-academia cooperation, and the enthusiasm of the post-00s generation for blockchain will drive technological breakthroughs. From a media perspective, Henry's views showcase the potential of DAOs under the influence of education and technology, calling for the industry to balance the inheritance of Decentralization ideals amid the wave of integration.

The Current State of DOGE and Decentralization Consensus: The Enduring Life of Meme Culture

DOGE, as a symbol of Decentralization spirit, has seen its payment function replaced by stablecoins, yet the community consensus and technological upgrades remain attractive. Guests analyze its value from different perspectives, highlighting the unique charm of the native culture of Web3.

Joe believes that the PoW mechanism of DOGE has decentralized appeal in payment scenarios, but its narrative has been replaced by stablecoins, resulting in a decrease in market competitiveness. He emphasizes that PoW provides a sense of trust, but the meme attributes and low unit value of DOGE limit its development, requiring more application scenarios for support. From a media perspective, Joe's analysis reveals the narrative dilemma of DOGE amid the stablecoin craze, suggesting that the industry needs to redefine the market positioning of meme coins.

Henry admitted to holding a small amount of DOGE, viewing it as a symbol of community consensus, stemming from meme culture and retail investor momentum. He believes that while DOGE has been replaced by stablecoins for payment functions, its cultural value (such as the "Home Cat Two Dogs" project) gives it lasting vitality. Henry emphasizes that DOGE represents the spirit of Decentralization and requires technological upgrades to maintain its status. From a media perspective, his view highlights the significance of community-driven initiatives to Web3 culture, with DOGE potentially becoming a symbol of its native spirit.

Jerry supplemented the technical upgrades and ecological governance efforts of the DOGE community, such as the protocol development by the CZZ community after the May consensus conference. He believes that the decentralization consensus of DOGE aligns with the m&W DAO concept, and in the future, ecological value can be enhanced through technological breakthroughs. From media interpretation, Jerry's sharing injected a technology-driven optimistic outlook into DOGE, highlighting the unique value of native Web3 communities in the trend of integration.

Conclusion

The 14th episode of "No Defense in the Crypto World" opens a new chapter in the Web3 industry through open dialogue, discussing everything from the policy dividends in Hong Kong to Trump's global influence, from the trust game of stablecoins to the intrinsic value of DAOs and DOGE. Joe, Jerry, and Henry's diverse perspectives provide profound insights for the industry. Techub News calls on listeners to join the discussion group to obtain the latest summary articles and participate in the ticket lottery for the August Bitcoin Asia conference in Hong Kong, witnessing together the future direction of Web3. Looking forward to the next Space sparking another thought storm!

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