I’d like to share that I’ll be leaving Bandai Namco at the end of 2025. With the TEKKEN series reaching its 30th anniversary—an important milestone for a project I’ve devoted much of my life to—I felt this was the most fitting moment to bring one chapter to a close. My roots lie in the days when I supported small local tournaments in Japanese arcades and in small halls and community centers overseas. I still remember carrying arcade cabinets by myself, encouraging people to “Please try TEKKEN,” and directly facing the players right in front of me. The conversations and atmosphere we shared in those places became the core of who I am as a developer and game creator. Even as the times changed, those experiences have remained at the center of my identity. And even after the tournament scene grew much larger, many of you continued to treat me like an old friend—challenging me at venues, inviting me out for drinks at bars. Those memories are also deeply precious to me. In recent years, I experienced the loss of several close friends in my personal life, and in my professional life I witnessed the retirement or passing of many senior colleagues whom I deeply respect. Those accumulated events made me reflect on the “time I have left as a creator.” During that period, I sought advice from Ken Kutaragi—whom I respect as though he were another father—and received invaluable encouragement and guidance. His words quietly supported me in making this decision. Over the past four to five years, I’ve gradually handed over all of my responsibilities, as well as the stories and worldbuilding I oversaw, to the team, bringing me to the present day. Looking back, I was fortunate to work on an extraordinary variety of projects—VR titles (such as Summer Lesson), Pokkén Tournament, the SoulCalibur series, and many others, both inside and outside the company. Each project was full of new discoveries and learning, and every one of them became an irreplaceable experience for me. To everyone who has supported me, to communities around the world, and to all the colleagues who have walked alongside me for so many years, I offer my deepest gratitude. I’ll share more about my next steps at a later date. Thank you very much for everything. 【Postscript】 Although I will be leaving the company at the end of 2025, Bandai Namco has asked me to appear at the TWT Finals at the end of January 2026, so I expect to attend as a guest. For 30 years I kept saying, “I’ll do it someday,” and never once performed as a DJ at a tournament event. So instead, I will be releasing—for the first and last time—a 60-minute TEKKEN DJ-style nonstop mix (DJ mix), personally edited by myself, together with this announcement. Listening to it brings back many memories. Thank you again, sincerely, for all these years. ‘TEKKEN: A 30-Year Journey – Harada’s Final Mix’ by Katsuhiro Harada 1 is on #SoundCloud# December 8, 2025 - The Final Day of TEKKEN’s 30th Anniversary - Katsuhiro Harada [日本語版 (Japanese version)] このたび、2025年末をもちまして、私はバンダイナムコを退職することにいたしました。 長く携わってきた『鉄拳』シリーズが30周年という大きな節目を迎え、ひとつの区切りとして最もふさわしい時期であると考えたためです。 私の原点は、日本のゲームセンターや、海外コミュニティの小さな講堂やコミュニティセンターで、まだ小規模なトーナメントをサポートしていた時代にあります。 アーケード筐体を自ら運び込み、「鉄拳もぜひ遊んでみてほしい」と声をかけながら、目の前の参加者と向き合った日々。 あの場で交わした言葉や空気が、私という開発者の核を形作りました。 時代が変化しても、あの経験が自分の中心にあります。 そしてトーナメントシーンが大きく成長した後も、皆さんは旧知の友人のように私に声をかけ、会場で対戦したり、バーで『一緒に飲もう』と誘ってくれました。 それらもまた、大切な思い出です。 ここ数年間、私生活においては友人達との死別があり、仕事においては、私が尊敬する多くの先輩方の引退や逝去に触れてきました。 そうした出来事の積み重ねが、私に『開発者として残された時間』について考える契機を与えました。 その過程で、私がもう一人の父親のように敬愛する久夛良木健さんにも相談し、貴重な助言と励ましのお言葉をいただきました。 この言葉もまた、今回の決断を静かに後押しするものとなりました。 そして、この4〜5年をかけて私の担ってきたすべての業務やストーリーや世界観、そして責務をチームに段階的に引き継ぎ、今日に至ります。 振り返れば、VR作品（サマーレッスンなど）や『ポッ拳』、ソウルキャリバーシリーズをはじめ、自社他社問わず数多くのプロジェクトに携わる機会に恵まれました。 いずれのプロジェクトも新しい発見と学びに満ち、かけがえのない経験となりました。 これまで支えてくださった皆様、世界中のコミュニティの皆様、そして長年ともに歩んできた仲間たちに深く感謝申し上げます。 次の歩みについては、改めて皆様にお伝えいたします。 これからも、どうぞよろしくお願いいたします。 +あとがき 2025年末をもって退職致しますが、2026年1月末のTWT FINALには顔を出してほしいと会社からお願いされていることもあり、FINALにはゲストとして顔を出すと思います。 これまで30年間『いつかやるよ』と言い続けてやってこなかったトーナメントイベントでのDJですが、その代わりとして“最初で最後のDJ風60分ノンストップ鉄拳ミックス（私による初編集DJ mix）”も、今回のポストに合わせて公開します。 ‘TEKKEN: A 30-Year Journey – Harada’s Final Mix’ by Katsuhiro Harada 1 is on #SoundCloud# 様々な思い出が蘇ります。改めて皆さんありがとうございました。 2025年12月8日 - 鉄拳30周年最終日 - Katsuhiro Harada

2025–2026, imo, is the period that showed the clearest value of tokens backed by real revenue and real value capture. Thousands of projects disappeared when attention and liquidity moved elsewhere. But protocols with real products, real users and real revenue are still here. And more importantly, some of them are finding ways to return that revenue to the token. Look at the current numbers: – @HyperliquidX $HYPE: ~$60M holder revenue in 30D, with most trading fees flowing into HYPE buybacks – @CantonNetwork $CC: ~$49M in 30D, with network fees used to burn CC – @trondao $TRX: ~$24M in 30D, with network fees continuously burning TRX – @Pumpfun $PUMP: ~$24M returned to holders in 30D through token buybacks – @uniswap $UNI: ~$16M in 30D, with protocol fees now flowing into UNI buyback/burn – @ponsdotfamily $PONS: ~$15M in 30D, with a large part of revenue used for buyback and burn – @aeroxyz $AERO: ~$14M in 30D, with trading fees distributed to veAERO voters – @LaunchOnSF $STONK: ~$10M in holder revenue, mainly through market buybacks – @PancakeSwap $CAKE: ~$5M in 30D, with revenue from multiple products used to buy back and burn CAKE – @Aster_DEX aster-2:native: ~$4.6M in 30D, with most platform fees currently used to buy back ASTER For me, the more interesting model is: Real users → real fees → real revenue → real token capture. I think this will become one of the metrics worth watching much more closely in the next phase of the market. NFA.

2025 was the perp DEX volume war. 2026 is the perp DEX product/infrastructure war. I filtered the most important updates so you can save time researching every perp DEX yourself. This should help you quickly see who is building what, how they differ, and which DEX fits your needs best. Perp DEXs used to compete mainly on volume, liquidity, fees, and execution. This year, the battle is expanding across several new product layers. ❯ Permissionless markets @HyperliquidX is pushing this through HIP-3, letting builders deploy their own perp markets and choose the oracle, leverage, and market parameters. @standx_official is taking a similar direction with Universal Markets, with more focus on community liquidity for new markets. ❯ TradFi / RWA markets @variational_io stands out with Swaps, bringing TradFi liquidity and financing logic into onchain derivatives. @edgeX_exchange, @OstiumLabs, @tradexyz, @OndoPerps, and @gmtrade_xyz are expanding across equities, FX, and commodities. The battle here is around pricing, liquidity, and funding for global markets. ❯ Productive margin @grvt_io, @extendedapp, and @Aster_DEX are making collateral more useful. The same balance can earn yield, act as margin, and support multiple markets. ❯ Privacy @paradex, @Aster_DEX, and @hibachi_xyz are turning private execution into a core trading feature. Position data, wallet activity, order flow, and trading intent can all gain an extra privacy layer, especially for whales and institutional flow. ❯ Emerging challengers @pacifica_fi, @nadoHQ, and @perpltrade are the names I’m watching here. Strong distribution, chain-native communities, and a clear product wedge can help newer venues capture market share quickly. If I had to simplify it: Hyperliquid: permissionless markets Variational / edgeX / TradeXYZ / Ondo Perp: TradFi & RWA GRVT / Extended / Aster: productive margin Paradex / Hibachi : privacy Pacifica / Nado / Perpl: emerging challengers 2026 is turning the perp DEX market into a race around specialization. Market leaders can keep scaling liquidity and distribution, while challengers can own specific niches. The next perp winner may win a specific market first.

2025 vs. 2026: from rookie to agile runner. #humanoidrobots# have leveled up fast. 🤖✨ The second World Humanoid Robot Games will kick off in #Beijing# today. Watch the robot athletes shine!

2025. Eric Swalwell tells Charlamagne that the Chinese spy scandal was all BS and that Republicans lie about him because he is a white Christian. 🤣 No one enjoys being lied to more than Charlamagne the Clown.

2025. Eric Swalwell says the criminal justice system should focus on and throw the book at people who commit violent or sexual crimes. What a great idea Eric. As part of the sexual misconduct investigation into Swalwell, the FBI recently seized his electronics and searched his home.

2025 AltStar Expo: Day 1 Candid Gallery by Rick Garcia See the Post ► Featuring: @AltStarMag @industrybyrick @Stacyfiredoll2 @RobinCoffins @alterotic @iamivanxxx #altstarawards#