Robinhood and Kraken have successively launched stock tokens. This article provides an in-depth comparison of the differences between the two in terms of custody, regulation, trading hours, and on-chain issuance.

Gate Research Daily Report: On July 7th, BTC price is currently ranging narrowly around 109,531.9 USDT; ETH is consolidating within the 2,570-2,580 USDT range. Letsbonk generated over $1 million in fee revenue in the past 24 hours, surpassing Pump.fun and Sky; Block CEO Jack Dorsey launched bitchat, a decentralized peer-to-peer chat app; UAE officials clarified that cryptocurrency investors are not eligible for the golden visa program.

This report summarizes Web3 on-chain data for June 2025: Solana maintained its lead in transaction volume and active addresses, while Base remained the top Layer 2 network. Ethereum reclaimed the top spot in fee revenue through high-value interactions. Although Bitcoin’s on-chain transaction volume declined, the proportion of high-value transactions rose to 89%, indicating a shift toward institutional activity. PumpSwap surpassed $38 billion in trading volume with over 9 million active users, solidifying its position as the leading DEX on Solana. Sei saw simultaneous growth in on-chain volume and TVL, with its technical strengths and policy tailwinds driving momentum. Rising social media traction further amplified market attention.

BOB Mixed Layer2 officially launched BitVM Testnet, enabling native BTC on-chain and receiving support from ten top institutions.

xStocks promotes the tokenization of US stocks, igniting the cryptocurrency world, with Kraken and Robinhood both integrating. However, its founder was previously involved in DAOstack's "soft RUG," raising community concerns over high fees and custody transparency.

From Ranch to Congress, Bitcoin Senator Cynthia Lummis Advocates for a U.S. Strategic Bitcoin Reserve, Aiming to Bet the Nation on Crypto, Defend Dollar Hegemony, and Reshape the Financial System.

Five years later, the tokenization of US stocks makes a comeback, with new players like Kraken, Robinhood, and xStocks reshaping the narrative within a regulatory framework, while the once-booming DeFi craze has become a memory.

This article reveals the speculative risks and centralization concerns behind the ECF vision through the past entrepreneurial record of Zak Cole, the high expenditures of EF, and market failures.

This article provides an in-depth analysis of the trade-offs between physical custody, 24/7 arbitrage, KYC compliance, and self-custody, while explaining their long-term value impact on stablecoins, real assets, Ethereum/Solana settlement layers, and U.S. fintech stocks.

The article reveals the complete cycle of "illogical rise in the capital market → futile attribution → bubble burst → desperate reversal." It also points out the key rule of "inability to price means infinite potential."

This article analyzes how technologies such as Nitro WASM, Stylus, BoLD, and Orbit meet the demands for millisecond-level response, institutional compliance, and high-frequency trading, and compares them with the general roadmap of Coinbase Base.

The author not only organizes the innovative practices of mainstream platforms such as Kraken and Coinbase but also interprets their far-reaching impact on global capital flow, dollar hegemony, and the DeFi ecosystem from an economic perspective.

This article provides an in-depth analysis of physical asset custody, 24/7 arbitrage, KYC compliance, and the trade-offs of self-custody, while elucidating their long-term value drivers for stablecoins, RWA (Real World Assets), Ethereum/Solana settlement layers, and U.S. fintech stocks.

Gate Research Daily Report: On July 4, BTC prices rebounded from around 105,000 USDT, forming a new consolidation range between 109,000–110,000 USDT; ETH is trading sideways in a tight high range between 2,560–2,600 USDT.The U.S. Senate Advances "One Big Beautiful Bill Act" Bill with Key Procedural Vote; Ondo Finance and Pantera Capital plan to launch a $250 million fund to support RWA projects; Owlto is advancing cross-chain infrastructure centered on the USD1 stablecoin.

This report reviews the explosive logic behind DeFi Summer and systematically analyzes PayFi’s core concepts, protocol ecosystems, application scenarios, and potential catalysts, exploring whether it has the potential to trigger a new wave of on-chain financial enthusiasm—“PayFi Summer.” Unlike DeFi Summer, PayFi focuses more on addressing real-world payment pain points and delivering long-term sustainable value. It is driven by strategic capital, targets a mass user base, and originates within a stricter regulatory environment. Therefore, its “Summer” is more likely to be a moderate, enduring transformation that profoundly reshapes global payment infrastructure, rather than a short-term speculative frenzy.