This report by HTX Research addresses three critical dimensions of this transformation: 1. The true Product-Market Fit (PMF) driving on-chain U.S. equity perpetuals.
This report does not attempt to presuppose the victory of any one side, nor does it reduce this transformation to a binary judgment of "banks will be disrupted" or "crypto is merely a supplementary tool". A more accurate characterization is this: we are at the starting point of a restructuring of the financial architecture.
HTX Research, the dedicated research arm of HTX Group, has released a new report titled Hormuz Shock, U.S. Midterms, and the Repricing of the Crypto Market. The report traces the full transmission path from the energy supply shock triggered by President Trump's April 2 address on Iran to the crypto market, and provides a layered scenario framework incorporating the U.S. midterm elections and crypto legislative dynamics.
The core argument of this report is that OpenClaw’s breakout is not accidental. It is the product of several trends maturing at the same time: AI models becoming “good enough” for mid-complexity workflows, messaging platforms re-emerging as the primary interface for work, self-hosted and local-first architectures gaining renewed relevance
Recently, HTX Ventures, the global investment arm of HTX, released its latest research report,2025 Annual Review: Crypto Assets Move Toward Mainstream Adoption. Drawing on HTX Ventures' perspective as a long-term ecosystem builder, the report reviews the industry's key progress across three structural dimensions
Most narratives still assume humans are the center of the internet and of Web3. But the real shift underway is deeper: The very concept of “user” is migrating from humans to machines.
As that migration reaches payments, identity,