星球日报

Introduction
Decentralized Finance (DeFi) has sparked a story of exponential growth through a series of simple yet powerful economic primitives, transforming blockchain networks into a global permissionless market and fundamentally disrupting traditional finance. In the rise of DeFi, several key metrics have become the universal language of value: Total Value Locked (TVL), Annual Percentage Yield (APY/APR), and liquidity. These concise metrics inspire participation and trust. For instance, in 2020, DeFi's TVL (the dollar value of assets locked in protocols) soared 14 times, then quadrupled again in 2021, peaking at over $112 billion. High yields (some platforms claimed APYs as high as 3000% during the liquidity mining craze) attracted liquidity, while the depth of liquidity pools signified lower slippage and more efficient markets. In short, TVL is a

Original source: Bitrace
The year 2024 will be a milestone year for the Web3 industry. The market capitalization of Crypto and the adoption of industry infrastructure have reached unprecedented heights, while at the same time, the criminal industry has begun to utilize Crypto infrastructure more to optimize its operations or create new criminal paradigms. This report statistically analyzes and discloses the scale of major types of cryptocurrency crimes and elucidates the impact of compliance facilities on the scale of the criminal industry, calling for the industry and government to pay attention to the harms caused by cryptocurrency crimes.
Due to space limitations, this article only presents part of the conclusions and data from the report. You are welcome to visit the Bitrace official website to download the full version.
The situation of cryptocurrency crime remains severe.
High-risk addresses receiving the amount of stablecoins
Considering that risky activities mainly occur on the Ethereum and Tron networks, Bitrace will identify illegal entities in these two networks.

Original | Odaily Daily Report (@OdailyChina)
Author | Ethan (@ethanzhang\_web3)
Performance of the RWA sector market
According to RWA.xyz data, as of May 13, 2025, the total on-chain value of RWA reached $22.38 billion, an increase of 7.59% compared to 30 days ago. The total number of on-chain asset holders is 100,941, an increase of 3.

This article is from: SEC
Compiled by | Odaily Planet Daily (@OdailyChina); Translator | Azuma (@azuma\_eth)
Editor’s Note: On May 12, local time in the United States, the Cryptocurrency Special Working Group under the U.S. Securities and Exchange Commission (SEC) held its fourth cryptocurrency roundtable meeting. The theme of this meeting was "Tokenization: Assets on the Chain - The Convergence of Traditional Finance and Decentralized Finance."
It is worth mentioning that Paul officially assumed the position of SEC Chairman on April 22.