Web3 is not finished yet, Just going through a major reshuffle. 🔺 Signal 1: The regulatory battle for stablecoins has begun In 2024, Tether will surpass Binance and become the most profitable company in the entire industry. According to the current growth rate, its profit may be 5-10 times that of Binance in the next 5 years. Meanwhile, Circle is preparing to go public. Its core moat is regulatory compliance. But more symbolically, Trump is also going to issue stablecoins. If this plan is implemented, it will crush all existing players in the three dimensions of "politics+resources+compliance". What does this mean? Web2 is using the lever of "compliance" to precisely pry open the door to Web3's fate. 🔻 Signal 2: CEX myth collapses, traffic is returning to the project itself Today's ACT incident once again shattered the myth of centralized exchanges. In the past, people thought that joining CEX was equivalent to traffic, growth, and a bright future. But the reality is that with the structural shift from VC coins to meme coins, the traffic myth of CEX has been shattered. As the number of projects increases and traffic decreases, black box operations and biased interests become inevitable. When traffic fragmentation becomes the norm, projects can no longer rely on their success and must rely on their true hard power to survive. 🔻 Signal 3: Asset Chain Uplisting, Web2 may enter the market comprehensively BlackRock CEO Larry Fink wrote in his 2024 annual letter: “Every stock, every bond, every fund—every asset—can be tokenized. If they are, it will revolutionize investing.” All assets can be put on chain. Imagine if one day Coinbase really issues tokens, or if Web2 listed companies enter the tokenization process, what would it mean for Web3 native projects? ～～～～～～～～～～～ This is definitely not the final chapter of Web3. The old rules are being liquidated, and a new order is already being generated.