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Author: Wei Xiang

  • [RIA Advisors] Tokenization: The New Frontier For Capital Markets

    [RIA Advisors] Tokenization: The New Frontier For Capital Markets

    Wei Xiang

    Asset tokenization is the act of digitizing the ownership of an asset. At a very high level, it is not that different from the way your bank manages your checking account. Your bank doesn’t have a vault stuffed with your cash in it. Instead, it has a computer with a series of 1s and 0s… Read more

  • [ChainwiseCPA] The Tax Implications of Different Crypto Transactions: Trading, Mining, and Staking

    [ChainwiseCPA] The Tax Implications of Different Crypto Transactions: Trading, Mining, and Staking

    Wei Xiang

    Key Takeaways: As cryptocurrency adoption continues to grow, understanding the tax implications of different crypto transactions is essential for investors, miners, and stakers. The IRS treats cryptocurrency as property, which means various transactions have different tax consequences. In this article, we break down the tax treatment of crypto trading, mining, and staking in simple terms… Read more

  • [U.S. SEC] Staff Statement on Meme Coins

    [U.S. SEC] Staff Statement on Meme Coins

    Wei Xiang

    As part of an effort to provide greater clarity on the application of the federal securities laws to crypto assets, the Division of Corporation Finance is providing its views[1] on “meme coins.” A “meme coin” is a type of crypto asset[2] inspired by internet memes, characters, current events, or trends for which the promoter seeks to attract… Read more

  • [U.S. SEC] Crypto 2.0: Regulatory Whiplash

    [U.S. SEC] Crypto 2.0: Regulatory Whiplash

    Wei Xiang

    [1]Today the Commission dismissed its enforcement action against Coinbase, a crypto trading platform. This reverse-course midstream – coupled with recent high-profile stays of other litigations – is not only unprecedented, it ignores 80 years of well-established law.  We say we are dismissing the action because of future recommendations that may be made by the “crypto… Read more

  • [BINANCE] Sustainable Tokenomics: Questions Every Founder Should Think About

    [BINANCE] Sustainable Tokenomics: Questions Every Founder Should Think About

    Wei Xiang

    Why Tokenomics Matter? To establish a healthy token economy, we posit that there are four key design objectives: Beyond Tokenomics: Other Considerations for Success The future for tokens is exciting, albeit uncertain, as we enter a new regulatory landscape with an unprecedented cryptocurrency working group. However, teams can only work on what is within their… Read more

  • [Fireblocks] Revolutionizing Cross-Border Transactions with Permissioned DeFi

    [Fireblocks] Revolutionizing Cross-Border Transactions with Permissioned DeFi

    Wei Xiang

    This white paper explores how permissioned DeFi can transform cross-border payments, offering faster transactions, lower costs, and enhanced compliance compared to traditional banking and permissionless DeFi. Key Benefits of Permissioned DeFi for Cross-Border Transactions How Permissioned DeFi Works in Practice Challenges & Considerations The Future of Permissioned DeFi With rising institutional interest in stablecoins, CBDCs,… Read more

  • [The Big Whale] How payment systems are integrating digital assets

    [The Big Whale] How payment systems are integrating digital assets

    Wei Xiang

    This report explores the integration of stablecoins into global payment systems, analyzing how digital assets are reshaping financial transactions. 1. The Role of Blockchain in Payments 2. The Stablecoin Ecosystem in 2024 3. Stablecoins vs. CBDCs: Coexistence or Competition? Stablecoins are disrupting traditional finance, enabling faster, cheaper, and more transparent transactions. With increasing regulatory clarity… Read more

  • [Chainalysis] Leveraging Transparency for Collaboration in the Wake of Record-Breaking Bybit Theft

    [Chainalysis] Leveraging Transparency for Collaboration in the Wake of Record-Breaking Bybit Theft

    Wei Xiang

    On February 21, 2025, Bybit, a prominent cryptocurrency exchange, experienced a significant security breach resulting in the loss of nearly $1.5 billion worth of ether (ETH). This incident stands as the largest digital heist in the history of cryptocurrency. Fortunately, Bybit is actively collaborating with industry experts, including Chainalysis, to trace the stolen assets. They… Read more

  • [ELLIPTIC] The Largest Theft in History – Following the Money Trail from the Bybit Hack

    [ELLIPTIC] The Largest Theft in History – Following the Money Trail from the Bybit Hack

    Wei Xiang

    On February 21st 2025, approximately $1.46 billion in cryptoassets were stolen from Bybit, a Dubai-based exchange. Initial reports suggest that malware was used to trick the exchange into approving transactions that sent the funds to the thief. This is by the far the largest crypto heist of all time, dwarfing the $611 million stolen from Poly Network in 2021 (and the… Read more

  • [Ben Davis] The $1.5B ByBit Hack: Would Insurance Have Helped?

    [Ben Davis] The $1.5B ByBit Hack: Would Insurance Have Helped?

    Wei Xiang

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    The cryptocurrency industry was recently shaken by a sophisticated attack on ByBit, resulting in a $1.5 billion loss in ETH. The attack, attributed to North Korea’s sanctioned Lazarus Group, has sparked extensive discussion within the security community. Rather than providing another technical analysis, this article examines the incident through an insurance lens, using Harry Donnelly’s comprehensive technical write-up… Read more