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August 31, 2025, 7:01 AM
Jobs transferred his wealth into a living trust.
In 2009, two years before his passing, Jobs began transferring key assets:
• Apple shares
• Disney stock (valued at $4.5 billion at the time)
• Multiple properties
…all were transferred into an irrevocable living trust.
This was a brilliant move in terms of timing, tax avoidance, and control.
He cleverly utilized a U.S. tax loophole: spousal tax-free inheritance.
According to U.S. law, anyone can transfer an unlimited amount of wealth to their spouse tax-free upon their death. This meticulous planning laid a solid foundation for wealth succession, ensuring the family’s wealth continued smoothly as envisioned.
August 31, 2025, 8:01 AM
Changpeng Zhao delivered a speech at the University of Hong Kong, focusing on topics such as stablecoins, Real World Assets (RWA), decentralized exchanges, Decentralized Asset Treasury (DAT), the integration of AI and Web3, and the future of Web3 in Hong Kong. He shared insights on the wealth opportunities of Web3 and Hong Kong’s potential. Below is a summary of the six key highlights:
Stablecoins: A Tool for Dollar Globalization, Hong Kong’s Potential and Challenges
Stablecoins (e.g., USDT, USDC) are the core profit-generating sector of crypto finance, with Binance handling 70% of global trading volume. Stablecoins have evolved from a “safe haven” to a tool for dollar globalization, with a market cap exceeding $100 billion and 90% of users located overseas. Hong Kong could promote RMB internationalization through HKD-backed stablecoins but must address the contradiction between foreign exchange controls and circulation attributes by designing flexible mechanisms.
RWA Implementation Challenges and Financial Asset Potential
Tokenization of non-financial RWAs (e.g., Hong Kong real estate) is limited by low liquidity and insufficient trading demand, which can lead to volatility or manipulation. U.S. securities tokenization products are not yet mature, and token prices are not linked to stock prices. Stablecoins are currently the only successful RWA model, backed by U.S. Treasury bonds. If U.S. stocks are tokenized, it will strengthen their global financial position. Hong Kong must seize the policy window to avoid falling behind.
Decentralized Exchanges: Liquidity is Key
If Hong Kong aims to build a world-class exchange, it must address high costs (billions in investment) and liquidity shortages. It’s recommended to attract global exchanges (e.g., Binance) to operate compliantly in Hong Kong, tapping into global liquidity to reduce costs and enhance influence.
AI + Web3: The Trillion Micro-Payment Opportunity
The rise of AI agents will drive demand for high-frequency micro-payments (e.g., $0.01 per transaction), which traditional finance cannot meet. Blockchain is the only viable solution. If Hong Kong develops AI payment interfaces supporting local stablecoins for AI services, it could become a global testing ground for AI + Web3.
Education + Web3: Decentralized Knowledge
Blockchain can address unequal distribution of educational resources by providing an entry point for the 120 million people worldwide without access to education through Decentralized Autonomous Organizations (DAOs), revolutionizing knowledge transfer.
Hong Kong’s Web3 Future: Balancing Compliance and Innovation
Hong Kong must maintain compliance boundaries (e.g., stablecoin forex controls, asset verification) while preserving innovation flexibility (e.g., open exchange liquidity, reserving policy space for DAT). Hong Kong is improving rapidly, launching a stablecoin draft in May, ahead of the U.S., with the government actively engaging with the industry. Now is a golden period to explore Web3 opportunities, positioning Hong Kong as a global node.
Hong Kong has immense potential for Web3 development and must balance compliance with innovation, seize opportunities in AI, RWA, and stablecoins, and leverage policy support and global liquidity to become a key node in the Web3 era wealth wave.
August 31, 2025, 8:29 AM
Yesterday, I had a sudden idea to redesign the architecture of my website, aiming for a more advanced and faster framework. After researching various options, I decided to switch to an Obsidian + Hugo solution. However, this significantly increases development complexity. As a non-coder who hasn’t even mastered GitHub, I’m diving into designing a website architecture! Haha, right after starting, I hit an interrupt command, and the Git learning curve has skyrocketed. Can I pull it off? Let’s wait and see with continued updates.
August 31, 2025, 12:52 PM
Markdown is a lightweight markup language that can be used to add formatting elements to plain text documents. Created by John Gruber in 2004, it has become one of the world’s most popular markup languages.
It focuses on text content;
It’s plain text, easy to read and write, and can be easily integrated into version control;
Its syntax is simple, with minimal learning curve, allowing for beautiful and elegant formatting while typing.
Using Markdown is different from using editors like Word. In applications like Word, you click buttons to format words and phrases, and changes are immediately visible. Markdown is different: when you create a Markdown-formatted file, you add Markdown syntax to the text to indicate which words and phrases should look different.
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If a person views the world with a static perspective, they will immediately fall behind. Time cost is a hard constraint / Focus on the goal /Gratitude Diary-2025-09-03
- Author:HK_Henry
- URL:http://hkhenry.com/en/gratitude-journal/2025-08-31
- Copyright:All articles in this blog, except for special statements, adopt BY-NC-SA agreement. Please indicate the source!
