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MASTR · 2024–2026

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原创调查、批判性文章及相关讨论。按主题阅读、追踪长帖,或在原文中查找人物和项目。

694 · 精选文章 · 18/29

Why single-cause explanations fail in complex systems — original source image
研究方法

Why single-cause explanations fail in complex systems

This is not a philosophical position or a rhetorical warning, but an empirical observation repeated across economics, geopolitics, systems engineering, psychology, and especially crypto markets.

研究与分析5 min
政治与利益冲突

The President of the United States needs crypto for his dirty business.

Crypto com was under siege for more than 1 year. The US SEC issued a Wells notice in 2024. Crypto com sued the SEC in October 2024, then dropped the lawsuit in December 2024. On March 27, 2025, Crypto com announced the SEC closed the…

评论与直言3 min
市场结构

Prediction markets are probably what we deserve

The users decided what this ecosystem would become. Not builders. Not protocols. Not regulators. Users. Capital follows behavior, and behavior made the choice clear years ago.

评论与直言2 min
意见领袖与推广

Trump: political influence · 21 Dec 2025

It became repetitive, predictable, shallow, trapped in loops that endlessly repeat while pretending to be new. The same narratives are recycled, the same people farm reactions, the same moral theatre plays out every day, loud, aggressive,…

评论与直言4 min
Solana’s infrastructure and ecosystem: a December 2025 review — original source image
网络与基础设施

Solana’s infrastructure and ecosystem: a December 2025 review

Solana won the speed war, then spent years paying interest on that architectural debt. Today the brand lives in 2 parallel realities: a high-throughput base layer that genuinely ships, and an ecosystem layer where outages, exploits, insider…

研究与分析7 min
Pump.fun litigation: allegations, procedure and the following correction — original source image
政治与利益冲突

Pump.fun litigation: allegations, procedure and the following correction

In July 2025, a consolidated class action lawsuit was filed in the US District Court for the Southern District of New York accusing Pumpfun and the Solana ecosystem of operating a coordinated illegal scheme that allegedly wiped out between 4…

研究与分析7 min
市场结构

ASTER Is Heavily Manipulated! So, who ends up losing?

When we warned about the legal risk around $ASTER , a highly supply-controlled project with artificially inflated volume concentrated in a very small number of entities... we received a lot of hate. No problem.

评论与直言2 min
意见领袖与推广

Paid promotion · 9 Dec 2025

This is a bit different than usual because I just needed to get it off my chest. It won’t happen again. Unfollow me if needed.

评论与直言4 min
市场结构

Liquidity and market structure · 9 Dec 2025

🔺Every crypto hype cycle runs the same script: New tech buzzword appears Influencers race to position Projects launch without products VC unlocks wait in silence Retail enters on belief Liquidity peaks Dumps start quietly Blame shifts to…

评论与直言3 min
意见领袖与推广

Trump: Web3 culture · 9 Dec 2025

If it were not for our project, I would have left this platform a long time ago without looking back.

评论与直言2 min
Binance’s employee front-running incident — original source image
交易所与资产托管

Binance’s employee front-running incident

A Binance employee used insider information to front run a token launch. Official account. Official post. Personal profit.

研究与分析2 min
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