Core Insights - Based, a Web3 trading and payment application built on Hyperliquid infrastructure, has completed a $11.5 million Series A funding round led by Pantera Capital, with participation from Coinbase Ventures and Wintermute Ventures [1] - The funding round features an equity investment with token warrants, although the valuation remains undisclosed [1] - Based has over 100,000 registered users and 30,000 monthly active users, with a cumulative trading volume of approximately $40 billion and total revenue nearing $14 million [1] - The company plans to expand its AI-driven "agentic commerce" business and enter the North American market [1]

（来源：吴说） Web3 创业者、从业者容易忽视的一个合规误区是：只要项目注册在境外、服务器部署在海外，就能实现"天然合规"。但现实中，是否合规的核心，始终 在于项目本身的业务模式、资金结构和运营实质，而非表面的出海架构。换句话说，境外注册可以作为合规的一环，但不能成为掩盖高风险商业行为的挡 箭牌。特别是对于仍居于境内、面向中国用户开展服务的团队，更应格外重视项目的法律边界与刑事合规风险。本文将进一步拆解：作为开发者，如何快 速判断一个 Web3 项目是否属于"刑法级红线项目"？我们将以实务中高发的四类 Web3 违法风险模式为例，帮助开发者从项目结构、系统功能、代币流通 等角度建立基础识别力。只要能在早期阶段识别并避开这些高频项目类型，就有望远离绝大部分刑事法律风险。首先需要声明：本文所针对的，是希望在 Web3 行业长期发展的技术从业者，尤其是重视项目合规建设、具备一定法律风险意识的开发者群体，我们的分析对象亦聚焦于具备基本合规意识、具有 一定业务规划能力的项目。 至于以非法集资、币圈诈骗、洗钱套利等为明确目的所设立的虚假项目，并不在本篇的分析范围之列。 1. 开发者如何构建"高风险项目识别雷达"？ 作者 ...

Core Viewpoint - BLAQclouds, Inc. has launched the ApolloNFT.io Marketplace, a creator-focused digital asset platform designed to enhance creator branding and engagement within a unified on-chain ecosystem [1][3][14]. Platform Features - ApolloNFT.io allows creators to mint NFTs directly on the Apollo Mainnet, launch organized collections, create media playlists, manage fan communities, and engage with audiences [5][9]. - The platform serves as both a distribution channel and a community infrastructure layer for digital creators [7]. Web3 Integration - BLAQclouds' Web3 infrastructure enables seamless interaction across multiple ecosystem applications, allowing users to maintain a single digital identity and asset presence [8]. - Creators can mint assets, distribute content, receive payments, and interact with their communities without leaving the ecosystem [9]. Future Initiatives - ApolloNFT.io will serve as the foundational infrastructure for BLAQclouds' upcoming Super Studios film initiative, which will enable tokenized film assets and fan participation models [10]. - The platform will be integrated into the V2 launch of theAlley, enhancing interaction across platforms while maintaining unified identity and asset ownership [11]. Company Philosophy - The CEO of BLAQclouds emphasized that ApolloNFT is built around a Four Pillars philosophy, aiming to create a connected Web3 environment for creators to mint, distribute, monetize, and engage with audiences [14].

随着 Web3 技术逐步从底层创新走向应用实践，全球数字经济正迎来新一轮结构性转变。相较于早期以 加密金融为核心的探索阶段，Web3 的应用边界正在不断向消费、内容与娱乐等高频场景延展。在这一 背景下，一个以全球新消费为切入点的Web3项目——链智寰球（World Chain），近期正式对外发布其 数字消费全生态布局，尝试在 Web3 条件下探索更加可持续的商业协作模式。 在数字消费之外，链智寰球同样将内容与娱乐视为生态扩展的重要方向。平台通过引入链游与短剧内 容，探索娱乐体验与 Web3 协作机制之间的结合方式。 在链智寰球的整体设计中，全球新消费（ShoppingFi）是其底层逻辑的重要组成部分。与传统电商或单 一 Web3 应用不同，链智寰球将消费视为一种可持续参与行为，通过区块链技术对消费、互动与传播进 行统一记录，使其成为生态协作的一部分。 在这一体系下，消费不再只是商品或服务的即时交换，而是用户参与数字生态建设的重要入口。通过智 能合约，不同角色在平台中的参与方式与协作关系变得更加清晰透明，也为长期协作机制的建立提供了 技术基础。 链智寰球由新加坡公司 WORLD CHAIN INFORMATIO ...

Core Viewpoint - China Property Investment (00736.HK) has entered into a non-binding strategic cooperation memorandum with Nano Labs Ltd. to collaborate in the Web3 and digital asset sectors, aiming to accelerate the company's transition into the emerging digital economy [1] Group 1: Strategic Cooperation - The cooperation will follow the principles of "resource sharing, complementary advantages, and collaborative development" in areas such as Web3 ecosystem construction, underlying digital asset technology, and industry resource integration [1] - Nano Labs is an international provider of Web3 infrastructure and product solutions, listed on NASDAQ, with leading technological capabilities in distributed computing, silicon-based chip development, and Web3 network infrastructure [1] Group 2: Leadership and Expertise - To enhance the company's decision-making capabilities and resource integration in the Web3 and digital asset fields, Dr. Cai Kailong has been appointed as the company's industry advisor [1] - The board believes that the collaboration with Nano Labs, combined with Dr. Cai's expertise, forms a "dual-engine" driving model for the company's entry into the Web3 sector [2] Group 3: Value Creation - The addition of Dr. Cai is expected to ensure that the company's strategies in the digital asset field meet international standards of professionalism and compliance [2] - The integration of resources through Nano Labs' technological strength and Dr. Cai's industry connections will enable the company to quickly access the top global Web3 ecosystem, significantly enhancing its bargaining power and resource share in the industry [2] - This strategic layout aligns with the group's diversification strategy and is expected to enhance the company's core competitiveness in the digital economy era, creating long-term value for shareholders [2]

Core Viewpoint - Vystar Corporation has completed its review of a binding Letter of Intent to acquire an equity stake in GoPaid.com LLC, focusing on high-value memorabilia monetization and Web3 technologies [1][2]. Acquisition Details - The acquisition includes a percentage of GoPaid's proprietary cryptocurrency, valued at a maximum of $10 million, and an option to acquire an additional 10% equity stake and 3% of the cryptocurrency over two years [2]. - The initial purchase price consists of 1,000 shares of Vystar's Series C preferred common stock, with Vystar providing strategic support for GoPaid [3]. Strategic Purpose - The acquisition aims to support the convergence of private-market collectibles with Web3 technologies, with Vystar committing to raise $250,000 for this initiative [4]. - The partnership seeks to redefine community finance by merging physical memorabilia with advanced Web3 infrastructure [6]. Market Opportunity - The global collectibles market is projected to grow from approximately $464 billion in 2025 to over $900 billion by 2035, with tokenization expected to enhance liquidity and transparency [12]. - Tokenization of iconic collectibles is anticipated to unlock trillions in previously illiquid assets, expanding global access and market participation [9]. Platform Development - The partnership will focus on three core initiatives: investment in memorabilia tokenization, launching R3alm Oracle for collectibles markets, and developing a white-label marketplace for tokenized collectibles [8][10]. - R3alm Oracle will provide real-time valuations and market analytics for collectibles, utilizing AI-driven analytics and cross-chain architecture [11]. Strategic Benefits - The transaction diversifies Vystar's portfolio into high-growth Web3 markets and creates multiple revenue participation paths through equity and token economics [17]. - Vystar aims to enhance long-term shareholder value through early participation in the tokenized collectibles infrastructure [17].

Core Viewpoint - Tianji Holdings (01520) has signed an investment cooperation agreement with Mr. Sami Abdullah AlShammary to establish a joint venture in Saudi Arabia, focusing on industrial IP, smart manufacturing, and Robot-As-A-Service [1] Group 1: Investment Agreement - The joint venture will operate under the framework of the Saudi Arabian Ministry of Industry, primarily in smart manufacturing and super complexes [1] - The registered capital of the joint venture is set at $1 million, with Tianji Holdings contributing $900,000 (90% equity) and Mr. Sami contributing $100,000 (10% equity) [1] Group 2: Business Expansion - The company aims to expand its existing business, leveraging its expertise in AI and Web3 technologies to create a smart new consumption ecosystem across sports, culture, tourism, and entertainment sectors [1] - The board believes that establishing the joint venture will enhance the company's operations in the industrial IP sector and provide returns to shareholders [1]

Core Viewpoint - Tianji Holdings (01520) has signed an investment cooperation agreement with Mr. Sami Abdullah AlShammary to establish a joint venture in Saudi Arabia, focusing on the industrial IP sector, particularly in Smart Manufacturing and Robot-As-A-Service [1] Group 1: Joint Venture Details - The joint venture will operate under the framework of the Saudi Arabian Ministry of Industry and aims to expand business in the industrial IP field [1] - The registered capital of the joint venture is set at $1 million, with Tianji Holdings contributing $900,000 (90% equity) and Mr. Sami contributing $100,000 (10% equity) [1] Group 2: Strategic Intent - The company is actively seeking to expand its existing business and possesses rich AI and Web3 technologies to create a smart new consumption ecosystem covering sports, culture, tourism, and entertainment [1] - The board believes that establishing the joint venture will further enhance the company's operations in the industrial IP sector and provide returns to shareholders [1]

Core Insights - BLAQclouds, Inc. has filed its Annual Report for the fiscal year ended December 31, 2025, providing a comprehensive update on financial performance and strategic initiatives [1] Financial Performance - For Q4 2025, BLAQclouds reported gross revenue of $765,163.32, indicating continued execution across core platform initiatives and legacy non-core assets [2] - The company recorded certain long-term funding collateral as an asset on its balance sheet under U.S. GAAP, but these assets are not considered usable operating funds unless a related credit facility is drawn [2][3] Corporate Restructuring - BLAQclouds initiated Operation "Clean Up," a multi-phase corporate and balance sheet restructuring program aimed at simplifying capital structure and eliminating legacy obligations [3] - As a result of Operation "Clean Up," all outstanding debt has been negotiated, satisfied, or cancelled, leaving the company debt-free as of year-end 2025 [4] Strategic Roadmap - The company outlined its Q1 2026 Roadmap, focusing on scaling core platforms under its Four Pillars Philosophy, with key priorities including generating $150 million in fee income from a development agreement with Super Studios [6] - Additional revenue targets for 2026 include $697,221 from consumer commerce and payment platforms and $144,291.63 from non-core crypto assets [6] Customer Retention Goals - BLAQclouds set ambitious customer retention goals for Q1 2026 across various platforms, including targets of 1,700,000 for ApolloCASH and 2,000,000 for ApolloNFT [7] Product Expansion - The company is expanding its offerings, including BLAQpay, ApolloCASH, ApolloWallet, ApolloID, and ApolloNFT, while continuing to evaluate subsidiaries and assets for alignment with the Four Pillars framework [10]

Core Viewpoint - The recent share purchase by the chairman of Tianji Holdings, Mr. Mei Weiyi, is a strong signal of confidence in the company's future development and a strategic move to enhance investor trust during market volatility [1][3]. Group 1: Share Purchase Details - Mr. Mei Weiyi acquired 1.5 million shares, increasing his total holdings to approximately 2.39% of the company's issued share capital [1]. - The purchase is seen as a direct endorsement of the company's intrinsic value and growth potential, especially during uncertain market conditions [1][3]. Group 2: Strategic Adjustments - The share purchase is part of a broader strategic adjustment aimed at optimizing the company's asset structure and shedding non-core or high-risk traditional business segments [2]. - The company has decided to transfer part of its loan portfolio to an associated director and cease its lending operations, addressing long-standing accounts receivable issues and credit risks [2]. Group 3: Focus on Web3 - Tianji Holdings is pivoting towards the Web3 sector, with its subsidiary Dolphinnode developing comprehensive Web3 infrastructure, including the recently launched Whimland platform, which has reached over 30 million U.S. wallet users [2]. - The chairman's share purchase is interpreted as a vote of confidence in the anticipated success of the Web3 strategy and platforms like Whimland [3]. Group 4: Market Sentiment and Future Outlook - The share purchase serves to stabilize market sentiment and align the interests of key stakeholders with those of minority shareholders regarding the company's future growth trajectory in Web3 [3][4]. - The company is expected to reallocate capital towards enhancing Web3 infrastructure and expanding applications like Whimland, opening significant opportunities for value creation [4]. Group 5: Investor Relations - The voluntary announcement of the share purchase reflects the company's commitment to transparency and adherence to listing rules, aiming to attract long-term value investors interested in cutting-edge technology and growth potential [4][5]. - The alignment of management confidence with strategic direction is crucial for assessing the company's investment value [5].