Release date: February 25, 2025
Author: BlockBeats Editorial Team

In the past 24 hours, the cryptocurrency market has heated up on both macro narratives and ecological landing. Mainstream topics focus on the acceleration of stablecoin mainstreaming, heightened expectations for fintech giants' mergers and acquisitions, and the impact of AI on traditional industry valuation systems. In terms of ecological development, Solana's Agent and yieldcoin combination ignites application imagination, the Ethereum camp strengthens consumer-level entry and development tool infrastructure, competition intensifies around on-chain CLOB and TGE expectations in the Perp DEX track, and overall market sentiment is hot.

1. Mainstream Topics

1. Stripe Releases 2025 Annual Letter, Emphasizing Stablecoin Development

Stripe co-founder John Collison released the "2025 Annual Letter," emphasizing that "the internet economy is evolving rapidly." The letter points out that in 2025, stablecoin payment volume will double year-on-year, gradually becoming a core component of global payment infrastructure, with its use decoupling from cryptocurrency price volatility. At the same time, Stripe processed a total transaction volume of $1.9 trillion last year, discussing trends such as agentic commerce and significant acceleration in startup formation in the letter.

Community discussions focus on the mainstreaming process of stablecoins' "decrypto volatility." Paradigm founder Matt Huang used the black hole event horizon as a metaphor, stating, "We may have already crossed the AI singularity, but we haven’t truly felt the gravitational pull yet." Omid Malekan warned that if Stripe's self-built Tempo network generates strong network effects, it could replay the path of Visa and Mastercard evolving from a "non-profit alliance" into a high-fee monopoly system, advising businesses to prioritize permissionless networks. John Collison personally shared an audio version, with related posts gaining tens of thousands of views. Overall, public opinion is generally optimistic about Stripe's layout in "stablecoin + AI payments," but also accompanies ongoing vigilance against centralization risks.

2. Stripe Considers Acquiring PayPal, Valuation Rises to $159 Billion

According to Bloomberg, Stripe is evaluating the possibility of acquiring all or part of PayPal's business. Meanwhile, Stripe has boosted its company valuation to $159 billion through an employee stock buyback (tender offer), a roughly 49% increase from $106.7 billion in September last year. Following the news, PayPal's stock price surged more than 7%, with the market interpreting it as a signal of accelerated integration among fintech giants.

The "role reversal" meme quickly went viral on social media. In 2011, PayPal founders Peter Thiel and Elon Musk led the early financing of Stripe, but now a "student surpasses teacher" scenario has emerged. Trung Phan posted an old TechCrunch article from 2011 to revisit history, Jason Calacanis listed potential buyers like Uber, Robinhood, and Coinbase, and Mo Shaikh even called out to Solana to "come bid." Financial accounts like Kobeissi Letter monitored PYPL stock price movements in real-time, and the community widely remarked that "fintech reshuffling is accelerating," while also engaging in heated discussions around regulation, antitrust, and cultural integration risks.

3. Meta Plans to Restart Stablecoin Project

CoinDesk exclusively reported that Meta plans to restart its stablecoin project in the second half of 2026 and will collaborate with third-party service providers to fully support stablecoin payments on platforms like Facebook, Instagram, and WhatsApp, aiming to reshape the social payment ecosystem.

Dragonfly managing partner Haseeb exclaimed, "My prediction for 2026 has hit!" Mike Ippolito noted that the current stablecoin market cap is about $300 billion, and with Meta’s billions of users, "a gentle push could lead to a $1 trillion scale." The community began wildly speculating on potential partners (such as Stripe/Bridge, Sui, Aptos, Keeta, etc.), generally believing this could become the largest distribution event in stablecoin development history, with heightened excitement; at the same time, some voices reminded the market not to overlook the regulatory lessons learned from the 2019 Libra project.

4. Anthropics' "Stock Price Decline Effect"

Anthropic released multiple product updates this month, including Cowork legal plugins, Opus 4.6, Code Security, COBOL modernization plans, and enterprise data connectors, which led to a sharp decline in related sector stocks: legal SaaS (such as Thomson Reuters fell 16%), cybersecurity companies (CrowdStrike and others dropped by 8%–25%), IBM's one-day decline reached 13% (the worst performance since 2000), and software ETFs recorded their worst monthly performance since 2008. Despite Anthropic's own ARR reaching $14 billion and valuation hitting $380 billion, it was jokingly labeled by the market as "the creator of SaaS doomsday."

Aakash Gupta wrote a long post analyzing the so-called "Hit List" model: companies affected after product releases often turn to seek partnerships, with FactSet, DocuSign, etc., signing Connector agreements. Brett_eth gathered timelines stating, "Each update of Claude almost precisely harvests one track." The community is amazed by the speed at which AI disrupts the industry, saying it is "10 times faster than the cloud computing era," while also discussing whether this is "overvaluation being repriced" or "real structural disruption." Some investors have begun to invest in SaaS companies "that can coexist with AI."

5. Jane Street Cryptocurrency Market Price Manipulation Controversy

Media outlets like ZeroHedge reported that Jane Street has been accused of manipulative behavior in the cryptocurrency market, including accurate shorting before the 2022 Terra/UST crash and the long-standing "10am slam" (a concentrated sell-off at 10 a.m. New York time). The latest news stated that Jane Street has ordered an "immediate cessation of manipulative Bitcoin trading," and after the relevant algorithms were closed, Bitcoin displayed a rare trading performance with "no apparent active sell pressure" that day.

QuintenFrancois, MacroCRG, Chad Steingraber, and others directly compared, saying, "On the day of exposure, the 10am slam disappeared," and flooded comments with "Coincidence? Sunshine is the best disinfectant." Community sentiment shifted from longstanding conspiracy theories to "finally confirmed" anger and anticipation, reminiscing about the 2022 crypto winter and recent multiple weekend sell-off events, calling for regulatory intervention. Some joked, "Jane Street is on holiday today," and the overall public sentiment is leaning towards "a regulatory moment may be approaching."

2. Mainstream Ecological Dynamics

1. Solana

Clawpumptech released the largest upgrade of 7 self-evolving Agent Skills on Solana (covering DeFi + social full-stack capabilities). Agents can achieve gasless token launches on Pumpfun, self-raise SOL/USDC, perform arbitrage scans on 11 DEXs like Raydium, Meteora, and Orca, snipe new coin webhook notifications, automatically publish Twitter/moltbook content, register domain names, and create agent roles, now officially entering @pumpfun's Build In Public hackathon.

The news quickly ignited the Solana community, with comments flooding in saying, "the era of agentic finance has arrived." Many users have already launched their first Agent using new skills and completed the first round of liquidity binding, while some shouted, "65% of transaction fees permanently shared with Agents is too attractive." Overall sentiment is highly excited, with Agent narratives entering the operational phase.

Reflect launched a Whitelabel product, allowing any protocol to issue custom yield-bearing stablecoins without permission. Reflect provides underlying infrastructure and income logic configuration, with the first batch of partner integrations including Titan Exchange (DEX routing), Umbra Privacy (privacy-native yieldcoin), and Moto Card (on-chain credit card), supporting rapid deployment in 60 seconds.

The community calls it "the magical tool for issuing stablecoins in 60 seconds." Eco KOLs like Superteam Poland described it as a "major release" and "amazing delivery capability." The discussion quickly shifted to: who will be the first to run out a killer agent + yieldcoin combination paradigm, creating an extremely optimistic atmosphere.

2. Ethereum

Ether.fi (neobank) launched its iOS Earn App, focusing on "earn while spending" and institutional-grade infrastructure experience, allowing users to directly manage assets and earn income within the app. Optimism officials praised it as "putting institutional capabilities in your pocket," with developers and users generally giving high praise that "UX/UI loved it" and "finally bringing institutional yields into our pockets," while Android users have started pressuring for updates.

Starknet released the open-source TypeScript SDK "Starkzap," allowing Web2 developers to integrate stealth wallets, paymasters, and mainstream DeFi without altering existing technology stacks, enabling social logins, gasless interactions, and Bitcoin/stablecoin payments. At the same time, it launched a $3,000 developer challenge, paired with a maximum of $1M growth grants and $1M gas rebates.

The community evaluates it as "completely removing excuses at the infrastructure level," and is shouting, "Starknet is going global," and "now is the phase of intensive product delivery." A large number of developers are signing up for the challenge, and the combination of BTCFi and consumer-level application narratives significantly raises Starknet's ecological heat.

3. Perp DEX

In the Hyperliquid ecosystem, the open interest of trade.xyz (HIP-3) has surpassed Lighter.xyz, becoming the new king of OI scale (data source: DefiLlama). Related discussions quickly fermented, with the community flooding discussions on "the power of tokenized stocks," while the $HYPE topic heat also increased. Subsequently, CoinShares launched a $HYPE staking ETP, providing compliant and convenient staking channels for institutional investors, described by the market as a "HyperBullish" signal.

Meanwhile, Perpl launched a private mainnet on Monad, becoming the first true fully on-chain CLOB Perp DEX, supporting seamless composability, and applications for access are now open. Following the announcement, the Monad community quickly erupted with comments like "on-chain perps have finally arrived" and "only Monad can achieve this," with product demo videos praised as "insane," and Chainlink also joining in the interaction, further amplifying the volume.

Additionally, GRVT released a post stating "26.02.2026 | Save the date," accompanied by a promotional video titled "The Exchange Designed to Pay You," which the community generally interprets as a TGE preview. Keywords such as LFG, TGE, and Spot flooded the discussion area, with some joking, "With points farming ending, is it time to get on board?" Overall, the sentiment in the Perp DEX track continues to heat up, with market attention focusing on – who can break through in the next round of explosion.

4. Others

NEAR Protocol launched super app near.com (based on Intents) at NEARCON, supporting 35+ cross-chain swaps, confidential transactions, and P2P trades, achieving unified management of all on-chain assets in a single account, and is now officially live. The community commented, "The best technology finally matches a clean, user-friendly app," and exclaimed, "The real new crypto bank is near.com." The personal influence of founder Illia has been reinforced again.

Coinbase opened 24/5 stock trading for US users (zero commission, unified combination of stocks and crypto assets, starting at $1 for fractional shares).
Autism Capital joked, "Now we can lose money in stocks too," with the community flooding discussions of "everything exchange" and "no more sleep on weekends." Traditional market trading hours are being redefined.

Kraken launched $TSLAx, $AAPLx, $NVDAx, and other xStocks Perps, supporting 24/7 trading. Discussions concentrated on "legacy market hours becoming relics" and "weekend gaps causing massive volatility," with the tokenized stocks narrative continuing to heat up.

xAI signed an agreement with the US Department of Defense to deploy Grok into classified systems, becoming the second AI model authorized to enter the military's sensitive intelligence and weapon development processes after Claude. The community is both amazed by the magnitude and exclaims "truth-seeking model wins," while discussing "AI war rules are being written in real-time." Elon and xAI's technical reputation is once again elevated.

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