Gary Yang
Web3&2 投资者；星瀚资本创始合伙人；Eureka Finance Group 投资者；CICADA 投资者；DeepEarning AI Quant；
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Gary Yang: DeFi 2.0 Rising from the Inevitable Chaos of 2026
This article focuses on the macroeconomic cycle and the structural inflection point of crypto finance at the end of 2025, systematically reviewing the end of the first curve of Crypto, the end of the previous Kondratiev wave, and the resulting global financial disorder and reconstruction.
Gary Yang
杨歌Gary：稳定币定价方式下的资产链上化趋势
本文围绕稳定币立法带来的结构性变革，探讨了链上资产管理与 RWA 的发展趋势，解析了币股联动在市场结构中的崛起逻辑，并讨论了代币化（Tokenization）在传统金融体系中的演化路径与潜在影响。
Gary Yang
Gary Yang: The GENIUS Act and On-chain Shadow Money
If successfully implemented, the GENIUS Act will skillfully neutralize the disruptive impact that crypto poses to the current financial role of the US dollar and Treasury bonds, and in turn, channel the growth of crypto market value and liquidity back into support for the dollar.
Gary Yang
Reconstructing global liquidity: GENIUS Act and on-chain shadow currencies
If the GENIUS Act is successfully implemented, it will cleverly resolve the impact of Crypto on the existing financial and economic status of the U.S. dollar and U.S. debt, and in turn increase the value and liquidity of the U.S. dollar-pegged Crypto Market.
Gary Yang
Gary Yang: GENIUS Act and On-chain Shadow Currency
In May 2025, the U.S. Senate passed the GENIUS Act, marking a major shift in stablecoin regulation and U.S. dollar strategy. This article analyzes how the bill strengthens the dollar's anchoring position in the Crypto era through compliant stablecoins, and explores its new round of profound impact on the global financial system, DeFi mechanisms, and asset management.
Gary Yang
The long-term impact of Trump’s tariff policy: the end of the Kondratieff cycle and the qualitative change of Bitcoin
In many panels and meetings, everyone asked questions and thought about how Trump’s tariff policy would affect the Crypto market and the price of Bitcoin.
Gary Yang
Gary Yang: Trump's tariff policy will lead to the end of the Kondratieff wave and the qualitative change of Bitcoin
The article revolves around the far-reaching impact of Trump's tariff policy on the global market, exploring the macroeconomic chaos at the intersection of the Kondratiev Wave, the failure of traditional models, and the opportunity for qualitative change in the Crypto market, especially Bitcoin.
Gary Yang
Gary Yang: The Second Curve of Crypto Growth
The turning point brought about by the second curve is two-way, that is, it will have a qualitative change and far-reaching impact on both the Crypto Market and TradFi.
Gary Yang
New pattern of liquidity pledge track: LSD triggers demand, LYD solves income
LSD’s definition narrative ignited the market, and LYD emphasized Yield to weaken the negative impact of Staking on Liquid.
Gary Yang
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