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In 2025, "Crypto Treasury" (DAT) became a sensational new asset allocation trend in the U.S. stock market, with over 200 publicly listed companies announcing plans to include crypto assets on their balance sheets. However, this capital frenzy has sparked widespread concerns about abnormal stock price volatility, asset bubbles, and insider trading. As a result, on September 24, the SEC and FINRA jointly announced investigations into more than 200 related listed companies.

On September 25, the highly anticipated Plasma native token XPL was officially launched, with the opening price once soaring to $1.6. Plasma subsequently initiated a large-scale 7-day liquidity incentive program (lasting until October 2), in collaboration with major DeFi protocols such as Aave, Euler, and Fluid. Users can earn WXPL (Wrapped XPL) rewards by depositing stablecoins (mainly USDT0) into these protocols, with some pools offering an annual percentage rate (APR) exceeding 35%.