From February 18 to 20, 2025, the world's most influential cryptocurrency, blockchain, and Web3 event—Consensus 2025—was grandly held at the Hong Kong Convention and Exhibition Centre. As a milestone for the event's first venture out of North America and into Asia, the Hong Kong stop attracted 8,000 participants from around the globe, including industry leaders, technology pioneers, and policymakers. Below are the core topics and viewpoints discussed by notable figures at the conference, based on information gathered from the internet and the X platform.

Paul Chan Mo-Po, Financial Secretary of Hong Kong: Hong Kong's Leadership in Web3 and Regulatory Innovation

In his opening speech on February 19, Hong Kong's Financial Secretary Paul Chan Mo-Po passionately elaborated on Hong Kong's strategic positioning in Web3 and crypto innovation. He pointed out that Hong Kong is not only an international financial center but also a frontier for digital asset development. As of 2025, Hong Kong has issued licenses to 9 digital asset trading platforms, with several more under review, showcasing its open attitude towards the crypto industry. Additionally, he mentioned that Hong Kong is actively promoting regulatory legislation for stablecoins and testing innovative projects through a regulatory sandbox. He particularly emphasized Hong Kong's achievements in the blockchain field, such as issuing the world's first tokenized government green bond in 2023 and launching a multi-currency issuance plan in 2024. "Hong Kong's robust regulatory environment and advanced financial infrastructure provide a solid foundation for the integration of Web3 and AI," Paul Chan stated. He also cited data from the World Economic Forum, claiming that the application of distributed ledger technology in the financial sector could save up to $100 billion annually, highlighting the potential of blockchain.

Adam Back, CEO of Blockstream: Opposition to CBDC, Advocacy for Bitcoin Decentralization

In a panel discussion on February 19, Blockstream CEO Adam Back, along with Samson Mow from JAN3 and David Tse from Babylon, explored the possibility of "Bitcoin as the foundation of a new financial system." As a veteran in the Bitcoin community, Adam Back clearly opposed Central Bank Digital Currencies (CBDCs), calling them "government-controlled surveillance tools," and argued that they contradict the decentralized spirit of Bitcoin. He advocated that Bitcoin, with its security and decentralization features, could become the cornerstone of the global financial system. He also mentioned that Bitcoin's Layer 2 solutions (such as the Lightning Network) are enhancing transaction speed and reducing costs, making it more suitable for everyday use. "I hope to see CBDCs eliminated and Bitcoin become the core of the future," he stated in a CoinDesk report.

Yat Siu, Co-founder of Animoca Brands: The Web3 Vision of Digital Property Rights

Yat Siu, co-founder and chairman of Animoca Brands, focused on the future of digital property rights in a discussion on February 19. He believes that the core of Web3 lies in empowering users with true ownership of digital assets, which will become the cornerstone for driving innovation and economic empowerment. "In the traditional internet, you are merely a tenant of content, while in Web3, you are the owner," he stated. Yat Siu used Animoca's projects as examples to emphasize the role of NFTs and blockchain games in reshaping the digital economy. He predicted that 2025 will be a pivotal year for crypto technology to go mainstream, especially in the Asian market, aligning with Hong Kong's choice as the event's host.

Justin Sun, Founder of TRON: The Rise of TRON and Future Blueprint

In his speech on February 19, TRON founder Justin Sun shared the success story of the TRON network and its future plans. He pointed out that TRON has become one of the main blockchains for stablecoin trading, particularly excelling in the circulation of USDT. "TRON's low cost and high efficiency have positioned it prominently in global payments and DeFi," he stated. Justin Sun also revealed TRON's expansion plans in decentralized content and entertainment, humorously mentioning his interests in Mars, popular games, and art, showcasing his unique personal style. His speech not only demonstrated TRON's technical strength but also provided attendees with a vibrant industry perspective.

Lily Liu, Chair of the Solana Foundation, and Johann Kerbrat, Crypto Head of Robinhood: The On-Chain Surge of Retail Investors

In a dialogue on February 19, Lily Liu, chair of the Solana Foundation, and Johann Kerbrat, crypto head of Robinhood, discussed the trend of retail investors increasingly turning to on-chain activities. Lily Liu stated that Solana's high throughput and low transaction fees have attracted a large number of retail users, especially participants in DeFi and NFTs. "We see ordinary users transitioning from passive observation to active participation," she said. Johann Kerbrat added that Robinhood's data shows a surge in retail investors' interest in crypto assets, particularly after improvements in usability and education. Both agreed that this trend marks the maturation of the crypto market and the influx of new users.

Evan Cheng, Founder of SUI: How Blockchain Serves Institutional Needs

In his speech on February 19, SUI founder Evan Cheng elaborated on how the SUI blockchain adapts to institutional needs. He pointed out that SUI's design focuses on high scalability and compliance, making it an ideal choice for enterprise-level applications. "Institutions need speed, security, and regulatory friendliness, and SUI provides these," he stated. Evan Cheng also mentioned the potential applications of SUI in asset tokenization and supply chain management, showcasing its possibilities for integration with traditional finance. His insights provided attendees with concrete examples of blockchain technology's implementation in the enterprise sector.

Richard Teng, CEO of Binance: The Current State of the Crypto Market and Hong Kong Strategy

In a dialogue on February 19 with Michael Lau, chairman of Consensus Hong Kong, Binance CEO Richard Teng analyzed the current state of the global crypto market and regulatory challenges. He stated that despite market volatility and regulatory pressures, the crypto industry is still growing rapidly. "Hong Kong's clear policies and open attitude provide us with tremendous opportunities," he said. Richard Teng also shared Binance's strategy in the Hong Kong market, including strengthening compliance and collaborating with local regulators to solidify its position in Asia.

Muneeb Ali, CEO of Stacks: The Revival of Bitcoin Layer 2

On February 20, Stacks CEO Muneeb Ali led a discussion on the "Revival of Bitcoin Layer 2." He believes that Bitcoin's scaling solutions (such as Stacks and the Lightning Network) are injecting new vitality into its ecosystem. "We are making Bitcoin smarter and faster," he stated. Muneeb Ali emphasized that Layer 2 technology will drive Bitcoin's applications in smart contracts and DeFi, expanding its influence as financial infrastructure.

Eric Anziani, President of Crypto.com: Blueprint for Global Expansion

In his speech on February 20, Eric Anziani, President of Crypto.com, shared the company's global expansion plans. He mentioned that Crypto.com is accelerating its presence in the Asian market, particularly in Hong Kong and Singapore, to meet the growing demand for crypto. "Our goal is to bring crypto services to more people," he stated. Eric Anziani also emphasized the company's investment in compliance and user experience, showcasing its strategy to maintain a competitive edge in a crowded market.

Ray Chan, CEO of Memeland: The Trend of "Meme-ification" in Finance

In a discussion on February 20, Ray Chan, CEO of Memeland, brought a novel perspective on the "meme-ification" of finance. He analyzed how meme culture and viral dissemination influence investment decisions, especially among the younger generation. "Memes are not just entertainment; they are shaping financial behavior," he said. Ray Chan used GameStop and Dogecoin as examples to demonstrate how social media drives market trends, providing attendees with a light yet thought-provoking viewpoint.

Mark Rydon of Aethir, Paul Veradittakit of Pantera, and Gary Liu of Terminal 3: The Fusion of AI and Blockchain

At the decentralized AI summit on February 20, Mark Rydon of Aethir, Paul Veradittakit of Pantera Capital, and Gary Liu of Terminal 3 jointly explored the potential of AI and blockchain integration. Mark Rydon stated that decentralized AI can enhance computational efficiency and reduce costs, while Paul Veradittakit believed this trend would attract more institutional investment. Gary Liu emphasized the blockchain applications of AI in data privacy and security, and all three agreed that this fusion will be a key direction for future technological development.

Comprehensive Analysis and Industry Impact

The discussions at Consensus 2025 Hong Kong reflected three major trends in the blockchain industry: technological upgrades (such as Ethereum 2.0 and Sui), real-world applications (such as RWA and DeFi), and regulatory integration (such as Hong Kong policies and Binance strategies). Notable figures unanimously agreed that Asia, especially Hong Kong, will play a crucial role in the global development of Web3. The technical insights from Buterin and Cheng guide developers, while the policy perspectives from Chan and Teng provide confidence to the industry. Sun, Liu, and Ali showcased diverse application prospects.

Currently, the Hong Kong event is at its peak, with Vitalik Buterin's closing speech expected to spark a wave of discussions. On the X platform, participants expressed that this conference is not only a technological feast but also a stage for the collision of Eastern and Western ideas, setting high expectations for the Toronto stop in May 2025.

Disclaimer: The above content does not constitute investment advice.

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