Tyler Web3
Web3 独立研究员，链上交互玩票
「从波动中成长，永远保持身体健康
Long live volatility, and stay healthy」
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Did Jane Street 'manipulate' BTC? Analyzing the AP system and understanding the pricing power game behind the ETF redemption mechanism.
It's not a matter of a certain 'villain', but every AP has the ability to influence BTC liquidity through the redemption mechanism.
Written by: Eddie Xin, Chief Analyst of OSL Group
They were fcking us the whole time.
This vulgar phrase circulated on Reddit and CT (Crypto Twitter) after the lawsuit, accompanied by an epic short squeeze with a liquidation scale of over $240 billion, directing the market's anger towards one target: Jane Street Capital.
10 AM, the liquidity freezing point of the Asian market over the past few months, was finally uncovered with the lawsuit from the U.S. Department of Justice, all stemming from Jane Street Capital, a top Wall Street market maker established in 2000, which is accused of manipulating the market through ETF arbitrage between spot and derivatives by utilizing the redemption mechanism of the spot ETF, executing a months-long 'sleight of hand'.
Written by: Eddie Xin, Chief Analyst of OSL Group
They were fcking us the whole time.
This vulgar phrase circulated on Reddit and CT (Crypto Twitter) after the lawsuit, accompanied by an epic short squeeze with a liquidation scale of over $240 billion, directing the market's anger towards one target: Jane Street Capital.
10 AM, the liquidity freezing point of the Asian market over the past few months, was finally uncovered with the lawsuit from the U.S. Department of Justice, all stemming from Jane Street Capital, a top Wall Street market maker established in 2000, which is accused of manipulating the market through ETF arbitrage between spot and derivatives by utilizing the redemption mechanism of the spot ETF, executing a months-long 'sleight of hand'.
I think the first thing that has the broadest impact is the convergence of the right wing of Silicon Valley and the new rich in the cryptocurrency circle, and its influence on the entire financial sector will continue to ferment in 2026.
2025 US Stock Market Yearbook: High Walls Rising, Fences Collapsing, How to Find New Anchors for Order in 2026?
2025 is a year of simultaneous acceleration and mutual compression of capital, institutions, technology, and politics.
Written by: Frank, McTong MSX Research Institute
All that is past is prologue.
As we reach the end of 2025, reflecting on the past 12 months of the US stock market and global financial markets, it is challenging to encapsulate this year with linear terms like 'rise' or 'correction'. Instead, it resembles a series of intense, mutually compressive structural changes—technology acceleration, capital expansion, political polarization, and institutional loosening occurring simultaneously and amplifying each other within the same cycle.
Written by: Frank, McTong MSX Research Institute
All that is past is prologue.
As we reach the end of 2025, reflecting on the past 12 months of the US stock market and global financial markets, it is challenging to encapsulate this year with linear terms like 'rise' or 'correction'. Instead, it resembles a series of intense, mutually compressive structural changes—technology acceleration, capital expansion, political polarization, and institutional loosening occurring simultaneously and amplifying each other within the same cycle.
Nasdaq and the US financial markets are making the final push for a 'non-closing financial system'
U.S. Stocks Sprint Towards 'Never Closing': Why Did Nasdaq Launch the '5×23 Hour' Trading Experiment?
This node proposed the '23-hour system', not out of consideration for Asian traders, but to pave the way for seizing global liquidity high ground.
Written by: Frank, MSX Research Institute
In the past, trading U.S. stocks meant sleepless nights; will there be no sleep during the day in the future?
As the Crypto market has become accustomed to a 7×24 never-sleeping rhythm, Nasdaq, standing at the core hub of TradFi, finally couldn't sit still.
On December 15, Nasdaq officially submitted documents to the U.S. Securities and Exchange Commission (SEC), planning to extend trading hours from the current 5 days a week, 16 hours a day (pre-market / intraday / post-market), to 5 days a week, 23 hours a day (daytime / nighttime).
Written by: Frank, MSX Research Institute
In the past, trading U.S. stocks meant sleepless nights; will there be no sleep during the day in the future?
As the Crypto market has become accustomed to a 7×24 never-sleeping rhythm, Nasdaq, standing at the core hub of TradFi, finally couldn't sit still.
On December 15, Nasdaq officially submitted documents to the U.S. Securities and Exchange Commission (SEC), planning to extend trading hours from the current 5 days a week, 16 hours a day (pre-market / intraday / post-market), to 5 days a week, 23 hours a day (daytime / nighttime).
The Battle for RWA Entry: A Comprehensive Guide to Web3 Wallets Betting on Tokenized US Stocks
Whose determination is stronger? A panoramic overview of mainstream wallets' layouts in the tokenized US stock field.
Written by: Tyler
Web3 wallets are accelerating to board the tokenized US stock train.
Imagine this: when you can manage on-chain native assets like ETH and USDC within the same wallet, while also buying and selling tokens of Apple (AAPL), Tesla (TSLA), and other RWAs at any time, the role of the wallet has transcended being a Crypto entry point, evolving into a new prototype of account systems.
The catalyst driving this qualitative change is the large-scale implementation of RWAs, with tokenized US stocks being the pioneer. Mainstream wallets have intensively entered this track during the same period—some established a separate 'stocks' section, while others integrated entry through DEX protocols, and so on.
Written by: Tyler
Web3 wallets are accelerating to board the tokenized US stock train.
Imagine this: when you can manage on-chain native assets like ETH and USDC within the same wallet, while also buying and selling tokens of Apple (AAPL), Tesla (TSLA), and other RWAs at any time, the role of the wallet has transcended being a Crypto entry point, evolving into a new prototype of account systems.
The catalyst driving this qualitative change is the large-scale implementation of RWAs, with tokenized US stocks being the pioneer. Mainstream wallets have intensively entered this track during the same period—some established a separate 'stocks' section, while others integrated entry through DEX protocols, and so on.
Hong Kong Stock Contract Practical Test Experience
The practical test must follow the opening hours; the market is closed on Saturdays and Sundays, and funding fees are charged every 8 hours. Additionally, positions cannot be closed on non-trading days.
Theoretically, if you are bearish on a certain asset (preferably large-cap giants, of course, excluding Oracle), shorting with leverage below one time can continuously earn funding fees.
Currently, the rates are generally positive. Low-leverage short positions (1 time or below) are actually more useful than puts, continuously earning funding fees.
The practical test must follow the opening hours; the market is closed on Saturdays and Sundays, and funding fees are charged every 8 hours. Additionally, positions cannot be closed on non-trading days.
Theoretically, if you are bearish on a certain asset (preferably large-cap giants, of course, excluding Oracle), shorting with leverage below one time can continuously earn funding fees.
Currently, the rates are generally positive. Low-leverage short positions (1 time or below) are actually more useful than puts, continuously earning funding fees.
Just used MyStonks to buy 500 US dollars worth of Meituan
The Hong Kong stock contract sector has been opened, tested a 10x contract of Meituan (50U → 500U), the experience is not much different from CEX, the USDT deposited will automatically be priced according to the Hong Kong dollar exchange rate, which is quite convenient (but the specific exchange loss has not been calculated yet)
For me, MyStonks' biggest advantage is the US dollar-based deposits and withdrawals, as well as the ability to leverage Hong Kong and US stocks
PS: Note that the Hong Kong stock contract sector is currently 1-20 times, so there are no dividends; the US stock sector has both spot (holding stocks like Apple can receive dividends) and contract modes, and the products are made with great care
The Hong Kong stock contract sector has been opened, tested a 10x contract of Meituan (50U → 500U), the experience is not much different from CEX, the USDT deposited will automatically be priced according to the Hong Kong dollar exchange rate, which is quite convenient (but the specific exchange loss has not been calculated yet)
For me, MyStonks' biggest advantage is the US dollar-based deposits and withdrawals, as well as the ability to leverage Hong Kong and US stocks
PS: Note that the Hong Kong stock contract sector is currently 1-20 times, so there are no dividends; the US stock sector has both spot (holding stocks like Apple can receive dividends) and contract modes, and the products are made with great care
Discover MyStonks can now buy Hong Kong stocks in addition to US stocks
However, there isn't much of the first batch, just Tencent, Xiaomi, Mixue Bingcheng, Meituan, JD.com, and Pop Mart, and the opening time hasn't arrived yet
US stocks have been around for a long time, and there are many supported underlying assets (over a hundred), besides the tech giants like the Seven Sisters, there are also Chinese concept stocks, new energy, AI, semiconductors, pharmaceuticals, consumption, and other subcategories, which is quite impressive
The most impressive thing is that updates are also quite fast, FIGR is synchronized with the IPO launch, and I've heard that the upcoming Gemini IPO is also coming.
However, there isn't much of the first batch, just Tencent, Xiaomi, Mixue Bingcheng, Meituan, JD.com, and Pop Mart, and the opening time hasn't arrived yet
US stocks have been around for a long time, and there are many supported underlying assets (over a hundred), besides the tech giants like the Seven Sisters, there are also Chinese concept stocks, new energy, AI, semiconductors, pharmaceuticals, consumption, and other subcategories, which is quite impressive
The most impressive thing is that updates are also quite fast, FIGR is synchronized with the IPO launch, and I've heard that the upcoming Gemini IPO is also coming.
Mystonks Hidden "After-Hours" US Stock Trading Channel, Quite Interesting
Recently, I've been researching Mystonks and found its "US Stock Contracts" section quite intriguing, essentially serving as an after-hours trading channel for US stocks.
Even when the US market is closed, you can still engage with market news or events through contracts, effectively extending trading hours to 24 hours.
This is quite useful for those needing after-hours risk hedging or looking to capture event-driven opportunities, especially for sudden policies/adverse news/earnings reports where quick reactions are required. Additionally, the Chinese concept stocks (Alibaba, JD) present significant observation opportunities, making it suitable for players focused on the logic of Hong Kong and US stock linkages.
Moreover, with 1x leverage, it is essentially equivalent to spot trading, with no liquidation risk, making the strategy quite stable.
Recently, I've been researching Mystonks and found its "US Stock Contracts" section quite intriguing, essentially serving as an after-hours trading channel for US stocks.
Even when the US market is closed, you can still engage with market news or events through contracts, effectively extending trading hours to 24 hours.
This is quite useful for those needing after-hours risk hedging or looking to capture event-driven opportunities, especially for sudden policies/adverse news/earnings reports where quick reactions are required. Additionally, the Chinese concept stocks (Alibaba, JD) present significant observation opportunities, making it suitable for players focused on the logic of Hong Kong and US stock linkages.
Moreover, with 1x leverage, it is essentially equivalent to spot trading, with no liquidation risk, making the strategy quite stable.
Interactive Brokers suddenly blocked access for users in China, is opening an account becoming difficult?
Interactive Brokers (IBKR) seems to have quietly closed the account opening window for Chinese users.
In the past, users could directly open accounts online using their ID cards, but recently the process has tightened, with users reporting requests for additional overseas addresses, proof of residence, and even account rejections.
If you have already successfully opened an account, it is recommended to complete the funding activation as soon as possible; if you haven't opened an account yet, you may have missed the window.
Interactive Brokers (IBKR) seems to have quietly closed the account opening window for Chinese users.
In the past, users could directly open accounts online using their ID cards, but recently the process has tightened, with users reporting requests for additional overseas addresses, proof of residence, and even account rejections.
If you have already successfully opened an account, it is recommended to complete the funding activation as soon as possible; if you haven't opened an account yet, you may have missed the window.
@SafePal New Activity: Open an account once, get two X1s
Now use the exclusive invitation code 244274 to open a bank account/MasterCard, and in addition to receiving a standard X1, you can also get a USDC co-branded X1 hardware wallet by completing the tasks.
Participation Conditions:
1⃣ Validate that there is 50 $USDC (Arbitrum) in the wallet.
2⃣ Complete bank card KYC + deposit 15 USDC during the event period.
In simple terms, 1 account opening = 1 co-branded version + 1 standard version, get 2 hardware wallets at once!
⚠️ Reminder: Users who completed KYC before August 28 cannot participate. Those who only opened an account without KYC can still complete it.
Now use the exclusive invitation code 244274 to open a bank account/MasterCard, and in addition to receiving a standard X1, you can also get a USDC co-branded X1 hardware wallet by completing the tasks.
Participation Conditions:
1⃣ Validate that there is 50 $USDC (Arbitrum) in the wallet.
2⃣ Complete bank card KYC + deposit 15 USDC during the event period.
In simple terms, 1 account opening = 1 co-branded version + 1 standard version, get 2 hardware wallets at once!
⚠️ Reminder: Users who completed KYC before August 28 cannot participate. Those who only opened an account without KYC can still complete it.
Starting from 'Caught in the Wind': The 2048 words that determine trillions in crypto assets
I want to tell 'this sand': You are only about 2048 tries away from having hundreds of billions of Hong Kong dollars.
Written by: Tyler
I recently watched Jackie Chan's critically acclaimed new film (Caught in the Wind), and there is an interesting scene where hundreds of billions of Hong Kong dollars worth of crypto assets are locked in a wallet with a 12-word mnemonic phrase, with the ending having only the last word unknown.
After watching, I tried it out and found that the 10th and 12th words are not in the standard mnemonic word list, which clearly shows that the screenwriter wrote it this way intentionally to prevent anyone from restoring the wallet according to the plot for scams, as similar scams on the blockchain are not uncommon.
Written by: Tyler
I recently watched Jackie Chan's critically acclaimed new film (Caught in the Wind), and there is an interesting scene where hundreds of billions of Hong Kong dollars worth of crypto assets are locked in a wallet with a 12-word mnemonic phrase, with the ending having only the last word unknown.
After watching, I tried it out and found that the 10th and 12th words are not in the standard mnemonic word list, which clearly shows that the screenwriter wrote it this way intentionally to prevent anyone from restoring the wallet according to the plot for scams, as similar scams on the blockchain are not uncommon.
https://doc.weixin.qq.com/txdoc/word?docid=w2_AaMAXwYDAPECNz82kQf2zS8yECJFf&scode=AOQAUAIfAFETjMz932AaMAXwYDAPE&type=0
Hello everyone, I am Tyler, a worker in the crypto industry for over 4 years. I have worked as a researcher/editor at a leading crypto media outlet, and now I am an independent writer & researcher.
I want to rely on my accumulated experience and ability dividends to cultivate a small space in the long term, gather a group of like-minded friends and a small circle. Therefore, I plan to create a paid knowledge community "Tyler Charging Station".
In the group, we do not recommend coins, do not call shots, and do not act as agents. We only discuss practical operations and experiences, with a small entry barrier (less than 200 RMB, one-time fee), which is considered paid knowledge. For specific details, please refer to the documents or images in the comment section.
If you feel that the information and services provided are valuable, you can message me privately with the note "Charging Station".
I want to rely on my accumulated experience and ability dividends to cultivate a small space in the long term, gather a group of like-minded friends and a small circle. Therefore, I plan to create a paid knowledge community "Tyler Charging Station".
In the group, we do not recommend coins, do not call shots, and do not act as agents. We only discuss practical operations and experiences, with a small entry barrier (less than 200 RMB, one-time fee), which is considered paid knowledge. For specific details, please refer to the documents or images in the comment section.
If you feel that the information and services provided are valuable, you can message me privately with the note "Charging Station".
Hello everyone, I am Tyler, a worker in the crypto industry for over 4 years. I have worked as a researcher/editor at a leading crypto media outlet, and now I am an independent writer & researcher.
I want to rely on my accumulated experience and ability dividends to cultivate a small space in the long term, gather a group of like-minded friends and a small circle. Therefore, I plan to create a paid knowledge community "Tyler Charging Station".
In the group, we do not recommend coins, do not call shots, and do not act as agents. We only discuss practical operations and experiences, with a small entry barrier (less than 200 RMB, one-time fee), which is considered paid knowledge. For specific details, please refer to the documents or images in the comment section.
If you feel that the information and services provided are valuable, you can message me privately with the note "Charging Station".
I want to rely on my accumulated experience and ability dividends to cultivate a small space in the long term, gather a group of like-minded friends and a small circle. Therefore, I plan to create a paid knowledge community "Tyler Charging Station".
In the group, we do not recommend coins, do not call shots, and do not act as agents. We only discuss practical operations and experiences, with a small entry barrier (less than 200 RMB, one-time fee), which is considered paid knowledge. For specific details, please refer to the documents or images in the comment section.
If you feel that the information and services provided are valuable, you can message me privately with the note "Charging Station".
This operation by Big Orange is equivalent to not hedging with WBETH, but instead, nakedly selling ETH calls, and then using the premiums to buy long-dated out-of-the-money calls on Robinhood/Tesla.
It's possible that the margin from selling calls could get liquidated, while the purchased US stock calls could go to zero, resulting in a double loss.
Although he definitely has ETH spot holdings, once ETH surges, he will have to rely on quick reflexes to transfer the spot to hedge in time.
Actually, just taking this 40% annualized premium is quite pleasant, and then using it to gamble on far out-of-the-money calls in US stocks seems a bit wasteful.
It's possible that the margin from selling calls could get liquidated, while the purchased US stock calls could go to zero, resulting in a double loss.
Although he definitely has ETH spot holdings, once ETH surges, he will have to rely on quick reflexes to transfer the spot to hedge in time.
Actually, just taking this 40% annualized premium is quite pleasant, and then using it to gamble on far out-of-the-money calls in US stocks seems a bit wasteful.
Has anyone watched 'Catching the Wind and Chasing Shadows'? There's a mnemonic phrase in it.
The plot setting is——hundreds of billions of Hong Kong dollars are locked in a wallet with a 12-word mnemonic phrase. I tried it, and the 10th and 12th words are not in the standard library.
Clearly, it's to prevent drama fans from actually restoring it for scams (the kind of scam where there's a balance on Tron but it's not transferable has been quite common lately).
But interestingly, the movie states that only the last word is unknown... But according to the BIP39 mnemonic standard, there are only 2048 words in the library, and brute-forcing the last word is just a matter of iterating through 2048 times, which takes only a few minutes (not to mention that there are only a few words starting with ES).
So, is the screenwriter intentionally laying a trap, or do they just not quite understand Web3? 😂
PS: Highly recommended, I feel it's Jackie Chan's best work in the last decade, really worth watching!
The plot setting is——hundreds of billions of Hong Kong dollars are locked in a wallet with a 12-word mnemonic phrase. I tried it, and the 10th and 12th words are not in the standard library.
Clearly, it's to prevent drama fans from actually restoring it for scams (the kind of scam where there's a balance on Tron but it's not transferable has been quite common lately).
But interestingly, the movie states that only the last word is unknown... But according to the BIP39 mnemonic standard, there are only 2048 words in the library, and brute-forcing the last word is just a matter of iterating through 2048 times, which takes only a few minutes (not to mention that there are only a few words starting with ES).
So, is the screenwriter intentionally laying a trap, or do they just not quite understand Web3? 😂
PS: Highly recommended, I feel it's Jackie Chan's best work in the last decade, really worth watching!
Analyze this, MyStonks has frozen 6.2 million dollars
U is not involved in illegal activities, the most likely issue encountered is the same problem as U card service providers — MyStonks, as a service provider in the middle channel, cannot bypass the risk control requirements of upstream brokers
In simple terms, the money is stuck with the brokers, and as an intermediary, it has no way to act. It can only listen to the brokers' demands for additional information, and cannot help users unfreeze their funds
This means that for those trying to tokenize US stocks, aside from licensed brokers like Robinhood operating independently, everyone else relying on intermediaries to navigate the US stock mapping is advised to play less for now
Upstream risk control + multiple layers of channels, freezing you without negotiation
U is not involved in illegal activities, the most likely issue encountered is the same problem as U card service providers — MyStonks, as a service provider in the middle channel, cannot bypass the risk control requirements of upstream brokers
In simple terms, the money is stuck with the brokers, and as an intermediary, it has no way to act. It can only listen to the brokers' demands for additional information, and cannot help users unfreeze their funds
This means that for those trying to tokenize US stocks, aside from licensed brokers like Robinhood operating independently, everyone else relying on intermediaries to navigate the US stock mapping is advised to play less for now
Upstream risk control + multiple layers of channels, freezing you without negotiation
Trump, the greatest operator in history
Buffett asks the stock god: How much can I make this year?
The stock god answers: 30%
Buffett asks again: What about Trump?
The stock god sighs: It's been a long time since anyone called me that name.
Buffett asks the stock god: How much can I make this year?
The stock god answers: 30%
Buffett asks again: What about Trump?
The stock god sighs: It's been a long time since anyone called me that name.
Wise should stop using the 'Business IBAN + Reference Code' payment method
Now each user will be assigned an individual IBAN, and you can directly use this IBAN for transfers
If you need to transfer euros from domestic or other banks, you can prioritize using the QR code transfer method to avoid delays or returns caused by missing the reference code
Now each user will be assigned an individual IBAN, and you can directly use this IBAN for transfers
If you need to transfer euros from domestic or other banks, you can prioritize using the QR code transfer method to avoid delays or returns caused by missing the reference code
@SafePal +Google Play can also smoothly open GPT
Previously tested with billing addresses from the US/Singapore, the SafePal Mastercard can directly run on the web
Just had a friend report that after multiple failures on the web, binding the Mastercard to Google Play succeeded on the mobile device on the first try
19.9 dollars, US IP, no additional taxes, it seems a new Google Play payment channel has been added
Previously tested with billing addresses from the US/Singapore, the SafePal Mastercard can directly run on the web
Just had a friend report that after multiple failures on the web, binding the Mastercard to Google Play succeeded on the mobile device on the first try
19.9 dollars, US IP, no additional taxes, it seems a new Google Play payment channel has been added
Cryptocurrency cultivation levels, have you reached the Golden Core stage?
This map by Shenchao is quite interesting: 0.115 BTC for Foundation Establishment, 1.5 BTC for Golden Core, and 15 BTC for becoming a Primordial Infant old monster.
If you reach the Great Perfection of Transformation God with 10,000 BTC (1.1 billion USD), then you are beyond the human realm.......
Then Satoshi Nakamoto is definitely the 'Cryptocurrency Daoist Ancestor'.
This map by Shenchao is quite interesting: 0.115 BTC for Foundation Establishment, 1.5 BTC for Golden Core, and 15 BTC for becoming a Primordial Infant old monster.
If you reach the Great Perfection of Transformation God with 10,000 BTC (1.1 billion USD), then you are beyond the human realm.......
Then Satoshi Nakamoto is definitely the 'Cryptocurrency Daoist Ancestor'.
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