Original: TheRoundTrip
Compiled by: Yuliya, PANews
Crypto vaults are no longer just about "holding Bitcoin", but represent a new paradigm of multi-chain, native staking, and token dividends. We are witnessing a revolution: Wall Street enterprises are beginning to mimic on-chain protocol operations. PANONY and Web3.com Ventures have launched an English video program called 'The Round Trip'. Hosted by John Scianna and Cassidy Huang, this episode focuses on one of the most talked-about trends in the current crypto market: PIPE transactions and the phenomenon of public companies massively allocating crypto assets. From TRON's reverse merger listing on Nasdaq to Hyperion DeFi using tokens as capital and staking assets, this transformation is reshaping the boundaries between "public companies" and "crypto-native protocols".
[The rest of the translation follows the same professional and accurate approach, maintaining the original structure and meaning while translating into English.]
