Peter Diamandis × Balaji × Dave Blundin × Salim Ismail

Balaji sees AI capability distributed across competing models, while Dave Blundin expects recursive self-improvement to produce a dominant ASI within six months to two years.Crypto’s programmability could make it the settlement layer for machines and network states, but regulation, verification, quantum risk and a possible political backlash against tech remain key constraints.

泓君 × 刘锋 × 杨民道

Tether以近乎零成本的用户资金配置美债，2024年净利润137亿美元、USDT占稳定币市场约70%，流动性构成核心护城河。其透明度和储备结构虽已改善，降息后收益下降、非美债资产风险及银行发行稳定币都可能重写竞争格局。

Avi Felman × Jonah Van Bourg

ETFs, stablecoin developments and the Ripple ruling moved Jonah from bearish to constructive as BTC rose 1.83% while the Nasdaq fell 1.5%.Spot ETFs could open a new liquidity gateway, but GBTC exits may offset inflows, while policy increasingly favors approved gateways such as PayPal over indiscriminate altcoin exposure.