{
    "id": 70820,
    "date": "2026-04-13T09:12:51",
    "date_gmt": "2026-04-13T02:12:51",
    "guid": {
        "rendered": "https:\/\/hbbgroup.net\/commodity-traders-are-getting-debanked-due-to-iran-war-pushing-them-to-rely-on-stablecoins\/"
    },
    "modified": "2026-04-13T10:04:32",
    "modified_gmt": "2026-04-13T03:04:32",
    "slug": "commodity-traders-are-getting-debanked-due-to-iran-war-pushing-them-to-rely-on-stablecoins",
    "status": "publish",
    "type": "post",
    "link": "https:\/\/hbbgroup.net\/en_us\/commodity-traders-are-getting-debanked-due-to-iran-war-pushing-them-to-rely-on-stablecoins\/",
    "title": {
        "rendered": "C\u00e1c nh\u00e0 giao d\u1ecbch h\u00e0ng h\u00f3a \u0111ang b\u1ecb \u201cdebanking\u201d do chi\u1ebfn tranh Iran, bu\u1ed9c h\u1ecd ph\u1ea3i chuy\u1ec3n sang ph\u1ee5 thu\u1ed9c v\u00e0o stablecoin"
    },
    "content": {
        "rendered": "<div data-module-name=\"article-header\" data-module-version=\"1.0.0\" data-module-instance=\"default\">\n<h2>C\u00e1c nh\u00e0 giao d\u1ecbch h\u00e0ng h\u00f3a \u0111ang b\u1ecb \u201cdebanking\u201d do chi\u1ebfn tranh Iran, bu\u1ed9c h\u1ecd ph\u1ea3i chuy\u1ec3n sang ph\u1ee5 thu\u1ed9c v\u00e0o stablecoin.<\/h2>\n<h2>Khi c\u00e1c ng\u00e2n h\u00e0ng r\u00fat lui kh\u1ecfi ho\u1ea1t \u0111\u1ed9ng t\u00e0i tr\u1ee3 th\u01b0\u01a1ng m\u1ea1i do lo ng\u1ea1i r\u1ee7i ro li\u00ean quan \u0111\u1ebfn Iran, c\u00e1c t\u1ed5 ch\u1ee9c cho vay phi ng\u00e2n h\u00e0ng v\u00e0 c\u00e1c trader ng\u00e0y c\u00e0ng chuy\u1ec3n sang s\u1eed d\u1ee5ng stablecoin \u0111\u1ec3 th\u1ef1c hi\u1ec7n thanh to\u00e1n, theo Luke Sully c\u1ee7a Haycen.<\/h2>\n<p>Ng\u00e0y 12\/04\/2026, 12:00 PM<\/p>\n<p><a href=\"https:\/\/www.google.com\/preferences\/source?q=coindesk.com\" target=\"_blank\" rel=\"noopener\">Make preferred on <\/a><\/p>\n<\/div>\n<div data-module-name=\"article-body\" data-module-version=\"1.0.0\" data-module-instance=\"default\">\n<p>Nh\u1eefng t\u00e1c \u0111\u1ed9ng lan t\u1ecfa c\u1ee7a xung \u0111\u1ed9t \u0111\u1ecba ch\u00ednh tr\u1ecb \u0111ang \u0111\u1ecbnh h\u00ecnh l\u1ea1i \u201ch\u1ec7 th\u1ed1ng v\u1eadn h\u00e0nh\u201d c\u1ee7a t\u00e0i ch\u00ednh th\u01b0\u01a1ng m\u1ea1i to\u00e0n c\u1ea7u, \u0111\u1ea9y m\u1ed9t s\u1ed1 nh\u00e0 giao d\u1ecbch h\u00e0ng h\u00f3a ra kh\u1ecfi h\u1ec7 th\u1ed1ng ng\u00e2n h\u00e0ng v\u00e0 bu\u1ed9c h\u1ecd t\u00ecm \u0111\u1ebfn stablecoin.<\/p>\n<p>Theo Luke Sully, CEO c\u1ee7a Haycen \u2014 \u0111\u01a1n v\u1ecb ph\u00e1t h\u00e0nh stablecoin t\u1eadp trung v\u00e0o t\u00e0i tr\u1ee3 th\u01b0\u01a1ng m\u1ea1i \u2014 cu\u1ed9c chi\u1ebfn li\u00ean quan \u0111\u1ebfn Iran \u0111\u00e3 l\u00e0m gia t\u0103ng lo ng\u1ea1i tu\u00e2n th\u1ee7 trong c\u00e1c ng\u00e2n h\u00e0ng ph\u01b0\u01a1ng T\u00e2y, k\u00edch ho\u1ea1t m\u1ed9t l\u00e0n s\u00f3ng \u201cdebanking\u201d m\u1edbi tr\u00ean th\u1ecb tr\u01b0\u1eddng h\u00e0ng h\u00f3a.<\/p>\n<p>\u201cK\u1ec3 t\u1eeb khi chi\u1ebfn tranh n\u1ed5 ra, c\u00e1c ng\u00e2n h\u00e0ng \u0111ang r\u00fat lui m\u1ea1nh h\u01a1n kh\u1ecfi m\u1ed9t s\u1ed1 d\u00f2ng ch\u1ea3y h\u00e0ng h\u00f3a,\u201d Sully chia s\u1ebb v\u1edbi CoinDesk.<\/p>\n<p>\u201cCh\u00fang t\u00f4i \u0111\u00e3 n\u00f3i chuy\u1ec7n v\u1edbi m\u1ed9t s\u1ed1 nh\u00e0 giao d\u1ecbch h\u00e0ng h\u00f3a hi\u1ec7n \u0111ang b\u1ecb debank,\u201d \u00f4ng n\u00f3i th\u00eam.<\/p>\n<p><strong>Th\u1ecb tr\u01b0\u1eddng 2 ngh\u00ecn t\u1ef7 USD<\/strong><\/p>\n<p>M\u1ed1i lo ng\u1ea1i t\u1eadp trung v\u00e0o r\u1ee7i ro \u0111\u1ed1i t\u00e1c.<\/p>\n<p>C\u00e1c ng\u00e2n h\u00e0ng lo ng\u1ea1i r\u1eb1ng nh\u1eefng giao d\u1ecbch c\u00f3 v\u1ebb h\u1ee3p ph\u00e1p \u2014 v\u00ed d\u1ee5 li\u00ean quan \u0111\u1ebfn c\u00e1c c\u00f4ng ty t\u1ea1i Oman ho\u1eb7c c\u00e1c trung t\u00e2m khu v\u1ef1c kh\u00e1c \u2014 c\u00f3 th\u1ec3 gi\u00e1n ti\u1ebfp li\u00ean quan \u0111\u1ebfn c\u00e1c th\u1ef1c th\u1ec3 Iran b\u1ecb tr\u1eebng ph\u1ea1t. Thay v\u00ec ch\u1ea5p nh\u1eadn r\u1ee7i ro, m\u1ed9t s\u1ed1 t\u1ed5 ch\u1ee9c \u0111\u00e3 r\u00fat lui ho\u00e0n to\u00e0n.<\/p>\n<p>K\u1ebft qu\u1ea3 l\u00e0 kh\u1ea3 n\u0103ng ti\u1ebfp c\u1eadn c\u00e1c \u201c\u0111\u01b0\u1eddng d\u1eabn\u201d t\u00e0i ch\u00ednh truy\u1ec1n th\u1ed1ng b\u1ecb thu h\u1eb9p trong m\u1ed9t l\u0129nh v\u1ef1c v\u1ed1n \u0111\u00e3 ph\u1ea7n l\u1edbn \u0111\u01b0\u1ee3c t\u00e0i tr\u1ee3 ngo\u00e0i h\u1ec7 th\u1ed1ng ng\u00e2n h\u00e0ng.<\/p>\n<p>T\u00e0i tr\u1ee3 th\u01b0\u01a1ng m\u1ea1i \u2014 m\u1ed9t th\u1ecb tr\u01b0\u1eddng tr\u1ecb gi\u00e1 kho\u1ea3ng 2 ngh\u00ecn t\u1ef7 USD cho c\u00e1c giao d\u1ecbch th\u01b0\u01a1ng m\u1ea1i qu\u1ed1c t\u1ebf \u2014 ng\u00e0y c\u00e0ng do c\u00e1c t\u1ed5 ch\u1ee9c cho vay phi ng\u00e2n h\u00e0ng chi ph\u1ed1i, bao g\u1ed3m c\u00e1c qu\u1ef9 t\u00edn d\u1ee5ng t\u01b0 nh\u00e2n t\u00e0i tr\u1ee3 cho vi\u1ec7c v\u1eadn chuy\u1ec3n h\u00e0ng h\u00f3a to\u00e0n c\u1ea7u.<\/p>\n<p>\u201cAi c\u0169ng ngh\u0129 h\u1ecd hi\u1ec3u v\u1ec1 t\u00e0i tr\u1ee3 th\u01b0\u01a1ng m\u1ea1i, nh\u01b0ng th\u1ef1c ra kh\u00f4ng ph\u1ea3i v\u1eady,\u201d Sully n\u00f3i. \u201cPh\u1ea7n l\u1edbn l\u00e0 c\u00e1c qu\u1ef9 \u0111\u1ea7u t\u01b0 phi ng\u00e2n h\u00e0ng cho c\u00e1c b\u00ean vay tr\u00ean to\u00e0n th\u1ebf gi\u1edbi vay v\u1ed1n \u0111\u1ec3 v\u1eadn chuy\u1ec3n h\u00e0ng h\u00f3a v\u00e0 d\u1ecbch v\u1ee5.\u201d<\/p>\n<p>Nh\u1eefng b\u00ean cho vay n\u00e0y cung c\u1ea5p thanh kho\u1ea3n quan tr\u1ecdng, th\u01b0\u1eddng \u0111\u1ea1t l\u1ee3i su\u1ea5t kho\u1ea3ng 15% m\u1ed7i n\u0103m, v\u00e0 h\u1ed7 tr\u1ee3 c\u00e1c giao d\u1ecbch nh\u01b0 v\u1eadn chuy\u1ec3n helium t\u1eeb Qatar sang H\u00e0n Qu\u1ed1c ho\u1eb7c mangan t\u1eeb Nam Phi sang Indonesia.<\/p>\n<p>Tuy nhi\u00ean, h\u1ecd v\u1eabn ph\u1ee5 thu\u1ed9c v\u00e0o ng\u00e2n h\u00e0ng \u0111\u1ec3 th\u1ef1c hi\u1ec7n thanh to\u00e1n v\u00e0 quy\u1ebft to\u00e1n \u2014 nh\u1eefng m\u1ed1i quan h\u1ec7 hi\u1ec7n \u0111ang b\u1ecb gi\u00e1n \u0111o\u1ea1n.<\/p>\n<p>Stablecoin \u2014 c\u00e1c token s\u1ed1 \u0111\u01b0\u1ee3c neo gi\u00e1 theo ti\u1ec1n ph\u00e1p \u0111\u1ecbnh, th\u01b0\u1eddng l\u00e0 USD \u2014 \u0111ang n\u1ed5i l\u00ean nh\u01b0 m\u1ed9t gi\u1ea3i ph\u00e1p thay th\u1ebf. \u0110\u1eb7c bi\u1ec7t, USDT c\u1ee7a Tether \u0111ang \u0111\u01b0\u1ee3c c\u00e1c nh\u00e0 giao d\u1ecbch h\u00e0ng h\u00f3a v\u00e0 \u0111\u1ed1i t\u00e1c t\u1ea1i c\u00e1c th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i ng\u00e0y c\u00e0ng s\u1eed d\u1ee5ng nhi\u1ec1u h\u01a1n.<\/p>\n<p>Nh\u1eefng t\u00e0i s\u1ea3n n\u00e0y \u0111\u00e3 nhanh ch\u00f3ng ph\u00e1t tri\u1ec3n t\u1eeb m\u1ed9t c\u00f4ng c\u1ee5 giao d\u1ecbch crypto ng\u00e1ch th\u00e0nh m\u1ed9t trong nh\u1eefng ph\u00e2n kh\u00fac t\u0103ng tr\u01b0\u1edfng nhanh nh\u1ea5t trong t\u00e0i ch\u00ednh to\u00e0n c\u1ea7u, v\u1edbi t\u1ed5ng v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng v\u01b0\u1ee3t 300 t\u1ef7 USD v\u00e0o n\u0103m 2025 sau khi t\u0103ng tr\u01b0\u1edfng kho\u1ea3ng 50% m\u1ed7i n\u0103m.<\/p>\n<p>Kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch th\u1eadm ch\u00ed c\u00f2n t\u0103ng nhanh h\u01a1n, v\u01b0\u1ee3t 4 ngh\u00ecn t\u1ef7 USD v\u00e0o n\u0103m 2025 v\u00e0 hi\u1ec7n chi\u1ebfm kho\u1ea3ng 30% t\u1ed5ng ho\u1ea1t \u0111\u1ed9ng on-chain, cho th\u1ea5y vai tr\u00f2 ng\u00e0y c\u00e0ng l\u1edbn c\u1ee7a ch\u00fang nh\u01b0 m\u1ed9t ph\u01b0\u01a1ng ti\u1ec7n thanh to\u00e1n xuy\u00ean bi\u00ean gi\u1edbi v\u00e0 ti\u1ebfp c\u1eadn USD t\u1ea1i c\u00e1c th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i.<\/p>\n<p><strong>S\u1ef1 th\u1ed1ng tr\u1ecb c\u1ee7a Tether<\/strong><\/p>\n<p>T\u1eebng ch\u1ee7 y\u1ebfu \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng trong th\u1ecb tr\u01b0\u1eddng crypto, stablecoin hi\u1ec7n \u0111ang \u0111\u01b0\u1ee3c \u00e1p d\u1ee5ng r\u1ed9ng r\u00e3i trong c\u00e1c tr\u01b0\u1eddng h\u1ee3p s\u1eed d\u1ee5ng th\u1ef1c t\u1ebf nh\u01b0 chuy\u1ec3n ti\u1ec1n v\u00e0 thanh to\u00e1n th\u01b0\u01a1ng m\u1ea1i, nh\u1edd t\u1ed1c \u0111\u1ed9, thanh kho\u1ea3n to\u00e0n c\u1ea7u v\u00e0 kh\u1ea3 n\u0103ng \u043e\u0431\u0445\u043e\u0434 h\u1ec7 th\u1ed1ng ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng.<\/p>\n<p>M\u1ed9t trong nh\u1eefng stablecoin n\u1ed5i b\u1eadt l\u00e0 USDT c\u1ee7a Tether, hi\u1ec7n \u0111ang chi\u1ebfm \u01b0u th\u1ebf trong d\u00f2ng ch\u1ea3y thanh to\u00e1n.<\/p>\n<p>\u201cTether \u0111ang h\u1ea5p th\u1ee5 ph\u1ea7n l\u1edbn d\u00f2ng thanh to\u00e1n,\u201d Sully n\u00f3i. \u201cN\u1ebfu b\u1ea1n mu\u1ed1n th\u1ef1c hi\u1ec7n m\u1ed9t kho\u1ea3n thanh to\u00e1n m\u1ed9t l\u1ea7n v\u00e0o th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i, USDT \u0111ang h\u1ed7 tr\u1ee3 \u0111i\u1ec1u \u0111\u00f3.\u201d<\/p>\n<p>S\u1ee9c h\u1ea5p d\u1eabn c\u1ee7a USDT \u0111\u1ebfn t\u1eeb thanh kho\u1ea3n to\u00e0n c\u1ea7u s\u00e2u v\u00e0 m\u1ee9c \u0111\u1ed9 ch\u1ea5p nh\u1eadn r\u1ed9ng r\u00e3i.<\/p>\n<p>\u201cC\u00f3 r\u1ea5t nhi\u1ec1u thanh kho\u1ea3n USDT tr\u00ean to\u00e0n c\u1ea7u \u0111\u1ebfn m\u1ee9c m\u1ecdi ng\u01b0\u1eddi kh\u00f4ng ng\u1ea1i g\u1eedi ho\u1eb7c nh\u1eadn n\u00f3 nh\u01b0 m\u1ed9t ph\u01b0\u01a1ng th\u1ee9c thanh to\u00e1n,\u201d \u00f4ng n\u00f3i th\u00eam, \u201cb\u1edfi v\u00ec cu\u1ed1i c\u00f9ng s\u1ebd c\u00f3 ng\u01b0\u1eddi trong qu\u1ed1c gia \u0111\u00f3 \u0111\u1ed5i n\u00f3 sang USD.\u201d<\/p>\n<p>S\u1ef1 quen thu\u1ed9c ng\u00e0y c\u00e0ng t\u0103ng n\u00e0y c\u0169ng \u0111ang thay \u0111\u1ed5i nh\u1eadn th\u1ee9c c\u1ee7a th\u1ecb tr\u01b0\u1eddng.<\/p>\n<p>Tuy nhi\u00ean, Sully cho r\u1eb1ng xu h\u01b0\u1edbng n\u00e0y ch\u1ec9 l\u00e0 gi\u1ea3i ph\u00e1p t\u1ea1m th\u1eddi thay v\u00ec m\u1ed9t h\u01b0\u1edbng \u0111i l\u00e2u d\u00e0i. \u201c\u0110\u00e2y gi\u1ed1ng nh\u01b0 m\u1ed9t c\u00e1ch \u2018ch\u1eefa ch\u00e1y\u2019 cho nh\u1eefng ng\u01b0\u1eddi n\u00e0y h\u01a1n l\u00e0 m\u1ed9t gi\u1ea3i ph\u00e1p to\u00e0n di\u1ec7n cho t\u00e0i tr\u1ee3 th\u01b0\u01a1ng m\u1ea1i.\u201d<\/p>\n<p><strong>\u201cM\u1ed9t v\u1ea5n \u0111\u1ec1 kh\u00e1c\u201d<\/strong><\/p>\n<p>B\u1ed1i c\u1ea3nh \u0111\u1ecba ch\u00ednh tr\u1ecb c\u0169ng \u0111ang t\u1ea1o ra nh\u1eefng t\u00edn hi\u1ec7u c\u1ef1c \u0111oan h\u01a1n.<\/p>\n<p>Sully ch\u1ec9 ra c\u00e1c b\u00e1o c\u00e1o cho th\u1ea5y Bitcoin \u0111ang \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng nh\u01b0 m\u1ed9t \u201c\u0111\u1ed3ng ti\u1ec1n \u01b0u ti\u00ean\u201d cho c\u00e1c kho\u1ea3n thanh to\u00e1n li\u00ean quan \u0111\u1ebfn vi\u1ec7c \u0111\u1ea3m b\u1ea3o \u0111i qua Eo bi\u1ec3n Hormuz \u2014 m\u1ed9t \u0111i\u1ec3m ngh\u1ebdn quan tr\u1ecdng \u0111\u1ed1i v\u1edbi v\u1eadn chuy\u1ec3n d\u1ea7u to\u00e0n c\u1ea7u.<\/p>\n<p>\u201c\u0110i\u1ec1u \u0111\u00f3 cho th\u1ea5y t\u00e0i tr\u1ee3 th\u01b0\u01a1ng m\u1ea1i ng\u00e0y c\u00e0ng \u0111\u01b0\u1ee3c d\u1eabn d\u1eaft v\u00e0 v\u1eadn h\u00e0nh b\u1edfi c\u00e1c ch\u1ee7 th\u1ec3 phi ng\u00e2n h\u00e0ng v\u00e0 c\u00e1c ph\u01b0\u01a1ng th\u1ee9c giao d\u1ecbch ngo\u00e0i ng\u00e2n h\u00e0ng,\u201d Sully cho bi\u1ebft.<\/p>\n<p>Haycen \u0111ang \u0111\u1ecbnh v\u1ecb m\u00ecnh \u0111\u1ec3 t\u1eadn d\u1ee5ng xu h\u01b0\u1edbng n\u00e0y. C\u00f4ng ty ph\u00e1t h\u00e0nh m\u1ed9t stablecoin neo theo USD, USDhn, \u0111\u01b0\u1ee3c thi\u1ebft k\u1ebf ri\u00eang cho l\u0129nh v\u1ef1c t\u00e0i tr\u1ee3 th\u01b0\u01a1ng m\u1ea1i.<\/p>\n<p>Theo Sully, \u201cHaycen h\u01b0\u1edbng t\u1edbi tr\u1edf th\u00e0nh l\u1edbp thanh kho\u1ea3n v\u00e0 quy\u1ebft to\u00e1n cho th\u01b0\u01a1ng m\u1ea1i to\u00e0n c\u1ea7u phi ng\u00e2n h\u00e0ng, v\u00e0 hi\u1ec7n \u0111ang l\u00e0m vi\u1ec7c v\u1edbi c\u00e1c \u0111\u1ed1i t\u00e1c trong ng\u00e0nh tr\u00ean to\u00e0n th\u1ebf gi\u1edbi.\u201d M\u1ee5c ti\u00eau l\u00e0 \u0111\u01a1n gi\u1ea3n h\u00f3a m\u1ed9t h\u1ec7 th\u1ed1ng v\u1ed1n \u0111ang b\u1ecb ph\u00e2n m\u1ea3nh cao.<\/p>\n<p>M\u00f4 h\u00ecnh c\u1ee7a Haycen cho ph\u00e9p ng\u01b0\u1eddi d\u00f9ng n\u1ea1p ti\u1ec1n, giao d\u1ecbch b\u1eb1ng stablecoin c\u1ee7a h\u1ecd v\u00e0 c\u00f3 th\u1ec3 nh\u1eadn l\u00e3i (t\u00f9y thu\u1ed9c v\u00e0o \u0111i\u1ec1u ki\u1ec7n ph\u00e1p l\u00fd), \u0111\u1ed3ng th\u1eddi tr\u00e1nh \u0111\u01b0\u1ee3c s\u1ef1 ch\u1eadm tr\u1ec5 v\u00e0 k\u00e9m hi\u1ec7u qu\u1ea3 c\u1ee7a h\u1ec7 th\u1ed1ng ng\u00e2n h\u00e0ng \u0111\u1ea1i l\u00fd.<\/p>\n<p>\u201cTi\u1ec1n s\u1ebd kh\u00f4ng b\u1ecb \u2018m\u1eafc k\u1eb9t\u2019 trong b\u1ea3y ng\u00e0y. B\u1ea1n c\u00f3 th\u1ec3 \u0111\u0103ng nh\u1eadp, xem ti\u1ec1n g\u1eedi v\u00e0 \u0111\u1ed1i t\u00e1c c\u1ee7a m\u00ecnh t\u1ea1i m\u1ed9t n\u01a1i, v\u00e0 th\u1ef1c hi\u1ec7n quy\u1ebft to\u00e1n ngay l\u1eadp t\u1ee9c.\u201d<\/p>\n<p>Kh\u00e1c v\u1edbi h\u1ea7u h\u1ebft c\u00e1c nh\u00e0 ph\u00e1t h\u00e0nh stablecoin \u2014 th\u01b0\u1eddng t\u1eadp trung v\u00e0o giao d\u1ecbch crypto ho\u1eb7c thanh to\u00e1n b\u00e1n l\u1ebb \u2014 Haycen nh\u1eafm \u0111\u1ebfn m\u1ed9t ph\u00e2n kh\u00fac t\u1ed5 ch\u1ee9c c\u1ee5 th\u1ec3.<\/p>\n<p>\u201cC\u00e1c m\u00f4 h\u00ecnh stablecoin kh\u00e1c l\u00e0 kinh doanh thanh to\u00e1n ho\u1eb7c giao d\u1ecbch crypto,\u201d Sully n\u00f3i. \u201cCh\u00fang t\u00f4i \u0111ang gi\u1ea3i quy\u1ebft m\u1ed9t v\u1ea5n \u0111\u1ec1 kh\u00e1c.\u201d<\/p>\n<p>V\u1ea5n \u0111\u1ec1 \u0111\u00f3 \u2014 c\u00e1ch di chuy\u1ec3n ti\u1ec1n hi\u1ec7u qu\u1ea3 trong m\u1ed9t h\u1ec7 th\u1ed1ng th\u01b0\u01a1ng m\u1ea1i to\u00e0n c\u1ea7u b\u1ecb ph\u00e2n m\u1ea3nh v\u00e0 ng\u00e0y c\u00e0ng b\u1ecb \u201cde-risk\u201d \u2014 c\u00f3 th\u1ec3 s\u1ebd tr\u1edf n\u00ean nghi\u00eam tr\u1ecdng h\u01a1n khi c\u0103ng th\u1eb3ng \u0111\u1ecba ch\u00ednh tr\u1ecb k\u00e9o d\u00e0i.<\/p>\n<p>Tr\u1edb tr\u00eau thay, Sully nh\u1eadn \u0111\u1ecbnh r\u1eb1ng vi\u1ec7c c\u00e1c ng\u00e2n h\u00e0ng r\u00fat lui c\u00f3 th\u1ec3 th\u00fac \u0111\u1ea9y vi\u1ec7c \u00e1p d\u1ee5ng crypto nhanh h\u01a1n so v\u1edbi nh\u1eefng g\u00ec ch\u00ednh ng\u00e0nh n\u00e0y t\u1eebng \u0111\u1ea1t \u0111\u01b0\u1ee3c.<\/p>\n<p><strong><em>\u0110\u1ecdc th\u00eam: <a href=\"http:\/\/www.coindesk.com\/business\/2026\/04\/09\/banks-are-treading-carefully-on-stablecoins-despite-market-growth-s-and-p-global-says\">Banks are treading carefully on stablecoins despite market growth, S&amp;P Global says<\/a><\/em><\/strong><\/p>\n<\/div>\n<div data-module-name=\"promotional-article\" data-module-version=\"1.0.0\" data-module-instance=\"default\">\n<figure><img fetchpriority=\"high\" decoding=\"async\" src=\"http:\/\/www.coindesk.com\/_next\/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2Fs3y3vcno%2Fproduction%2F99ca9383b31a691939d862e5a8b73b6acb35de8b-1920x1080.png%3Fauto%3Dformat&amp;w=3840&amp;q=75\" alt=\"Encryption Supremacy - Zcash and Privacy in the Age of Scale\" width=\"1920\" height=\"1080\" data-nimg=\"1\" \/><\/figure>\n<p>H\u1ea7u h\u1ebft c\u00e1c m\u00f4 h\u00ecnh quy\u1ec1n ri\u00eang t\u01b0 trong crypto suy y\u1ebfu khi d\u1eef li\u1ec7u blockchain ng\u00e0y c\u00e0ng m\u1edf r\u1ed9ng. Ng\u01b0\u1ee3c l\u1ea1i, c\u00e1c m\u00f4 h\u00ecnh d\u1ef1a tr\u00ean m\u00e3 h\u00f3a nh\u01b0 Zcash l\u1ea1i tr\u1edf n\u00ean m\u1ea1nh h\u01a1n. CoinDesk Research \u0111\u00e3 l\u1eadp b\u1ea3n \u0111\u1ed3 5 ph\u01b0\u01a1ng ph\u00e1p b\u1ea3o m\u1eadt v\u00e0 ph\u00e2n t\u00edch kho\u1ea3ng c\u00e1ch ng\u00e0y c\u00e0ng gia t\u0103ng gi\u1eefa ch\u00fang.<\/p>\n<p><strong>V\u00ec sao \u0111i\u1ec1u n\u00e0y quan tr\u1ecdng:<\/strong><\/p>\n<p>Khi m\u1ee9c \u0111\u1ed9 \u00e1p d\u1ee5ng blockchain t\u0103ng l\u00ean, l\u01b0\u1ee3ng metadata kh\u1ea3 d\u1ee5ng cho c\u00e1c m\u00f4 h\u00ecnh machine learning c\u0169ng t\u0103ng theo. Do \u0111\u00f3, c\u00e1c ph\u01b0\u01a1ng ph\u00e1p b\u1ea3o m\u1eadt d\u1ef1a tr\u00ean vi\u1ec7c che gi\u1ea5u (obfuscation) \u0111ang suy gi\u1ea3m v\u1ec1 m\u1eb7t c\u1ea5u tr\u00fac. B\u00e1o c\u00e1o n\u00e0y cung c\u1ea5p m\u1ed9t so s\u00e1nh to\u00e0n di\u1ec7n v\u1ec1 5 ki\u1ebfn tr\u00fac quy\u1ec1n ri\u00eang t\u01b0 ch\u00ednh trong crypto, \u0111\u1ed3ng th\u1eddi \u0111\u01b0a ra khung \u0111\u00e1nh gi\u00e1 \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh m\u00f4 h\u00ecnh n\u00e0o v\u1eabn duy tr\u00ec \u0111\u01b0\u1ee3c \u0111\u1ed9 b\u1ec1n v\u1eefng khi n\u0103ng l\u1ef1c AI ng\u00e0y c\u00e0ng c\u1ea3i thi\u1ec7n.<\/p>\n<p><a href=\"http:\/\/www.coindesk.com\/research\/encryption-supremacy-zcash-and-privacy-in-the-age-of-scale\">View Full Report<\/a><\/p>\n<\/div>\n<div data-module-name=\"read-next\" data-module-version=\"1.0.0\" data-module-instance=\"default\">\n<p><em>(\u0110\u1ecdc chi ti\u1ebft t\u1ea1i \u0111\u00e2y)<\/em><\/p>\n<div>\n<figure><img decoding=\"async\" src=\"http:\/\/www.coindesk.com\/_next\/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2Fs3y3vcno%2Fproduction%2F915bbce115c5a32c0f84df9ecfe38a6e8bdc8b77-1920x1080.jpg%3Fauto%3Dformat&amp;w=3840&amp;q=75\" alt=\"Stacks of 100 dollar bills (Dmytro Glazunov\/Unsplash\/Modified by CoinDesk)\" width=\"1920\" height=\"1080\" data-nimg=\"1\" \/><\/figure>\n<p data-start=\"0\" data-end=\"149\">The Ether Machine, m\u1ed9t c\u00f4ng ty qu\u1ea3n l\u00fd qu\u1ef9 d\u1ef1 tr\u1eef <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Ether<\/span><\/span>, hi\u1ec7n \u0111ang n\u1eafm gi\u1eef h\u01a1n 1 t\u1ef7 USD ETH trong kho b\u1ea1c c\u1ee7a m\u00ecnh.<\/p>\n<p data-start=\"151\" data-end=\"177\"><strong data-start=\"151\" data-end=\"175\">\u0110i\u1ec3m ch\u00ednh c\u1ea7n bi\u1ebft:<\/strong><\/p>\n<ul data-start=\"179\" data-end=\"564\" data-is-last-node=\"\" data-is-only-node=\"\">\n<li data-section-id=\"qbse4n\" data-start=\"179\" data-end=\"402\">Th\u01b0\u01a1ng v\u1ee5 s\u00e1p nh\u1eadp SPAC tr\u1ecb gi\u00e1 1,6 t\u1ef7 USD gi\u1eefa <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Dynamix Corporation<\/span><\/span> v\u00e0 <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">The Ether Machine<\/span><\/span> \u0111\u00e3 b\u1ecb ch\u1ea5m d\u1ee9t do \u0111i\u1ec1u ki\u1ec7n th\u1ecb tr\u01b0\u1eddng kh\u00f4ng thu\u1eadn l\u1ee3i, theo th\u00f4ng b\u00e1o t\u1eeb The Ether Machine.<\/li>\n<li data-section-id=\"1ij6bad\" data-start=\"403\" data-end=\"497\">Dynamix s\u1ebd nh\u1eadn kho\u1ea3n ph\u00ed ch\u1ea5m d\u1ee9t h\u1ee3p \u0111\u1ed3ng tr\u1ecb gi\u00e1 50 tri\u1ec7u USD khi th\u1ecfa thu\u1eadn b\u1ecb h\u1ee7y b\u1ecf.<\/li>\n<li data-section-id=\"1jxo7ok\" data-start=\"498\" data-end=\"564\" data-is-last-node=\"\">The Ether Machine hi\u1ec7n n\u1eafm gi\u1eef h\u01a1n 1 t\u1ef7 USD Ether trong kho b\u1ea1c.<\/li>\n<\/ul>\n<p><a href=\"http:\/\/www.coindesk.com\/business\/2026\/04\/11\/usd1-6-billion-ether-machine-spac-deal-collapses-over-unfavorable-market\">Read full story<\/a><\/p>\n<p><em>(\u0110\u1ecdc chi ti\u1ebft t\u1ea1i \u0111\u00e2y)<\/em><\/p>\n<\/div>\n<\/div>",
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