整理：Nona，Techub News
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Fear and Greed Index: 51 (Neutral)
Bitcoin Price: $116,704
BTC/ETH Spot ETF Fund Flow (9.16)
BTC Net Inflow: $83.09 M
ETH Net Outflow: $41.40 M
Hong Kong
BTC/ETH Spot ETF Fund Flow (9.16)
BTC Net Subscription: 0 BTC
ETH Net Subscription: 0 ETH
[]( Richard Charles Heyes Returns to the Industry for Five Years
The Hong Kong Securities and Futures Commission announced on September 16, 2025, that it has prohibited Richard Charles Heyes, former head of Citi Global Markets Asia Limited, from returning to the Hong Kong financial industry for the next five years. The ban is effective from September 15, 2025, to September 14, 2030; Heyes previously served as the head of the company's core business, a board member, and the head of the Pan-Asian equities department. The Commission made this industry ban under the Securities and Futures Ordinance to maintain market integrity and protect public interest.
According to an announcement from Hong Kong-listed company Huajian Medical, the company has reached a significant strategic cooperation with Renhe Pharmaceutical's wholly-owned subsidiary, Renhe International, to jointly establish the world's first vertical real-world asset exchange focused on over-the-counter drugs in the United States. In this collaboration, ETHK Inc will provide the compliance operation support and services required for the exchange, while Huajian Medical's Huajian Digital will be responsible for core technology development.
DBS Hong Kong has completed the second phase of testing for the "Digital Hong Kong Dollar" pilot program, which falls under the "Digital Hong Kong Dollar +" category, focusing on exploring the introduction of tokenization and programmability into digital currency applications. The project is based on currency technology and collaborates with Zero2 (an ESG rewards platform launched by Negawatt Utility Limited) to issue digital vouchers to users after they complete environmental tasks. These vouchers can be spent at designated merchants, who will receive simulated e-HKD payments instantly upon verification and can be exchanged for Hong Kong dollars through Hong Kong's Fast Payment System (FPS) to simplify settlement and reconciliation processes.
Hong Kong-listed company BitStrat Holdings Limited has spent approximately $3.86 million (about HKD 30.02 million) in the open market to increase its holdings by 33.41 Bitcoins, bringing its total accumulated holdings to approximately 43.41 Bitcoins; the relevant announcement has been disclosed on the Hong Kong Stock Exchange, highlighting the company's interest and confidence in Bitcoin asset allocation.
The MyStonks platform will soon launch Hong Kong stock contract trading, allowing users to participate directly using USDT/USDC, with a maximum leverage of 20 times. This contract will cover multiple quality Hong Kong stock targets, including Guotai Junan International (1788.HK), BYD Company Limited (1211.HK), Xiaomi Group (1810.HK), Miexue Group (2097.HK), Meituan (3690.HK), Tencent Holdings (700.HK), Pop Mart (9992.HK), JD Group (9618.HK), and SMIC (981.HK), spanning industries such as technology, automotive, retail, internet, and semiconductors, to meet users' diverse asset allocation needs.
<div class=)[Hong Kong-listed company Delin Holdings announced that it will enter the mining sector by acquiring 2,200 Bitcoin mining machines from Fortune Peak Limited through the issuance of convertible bonds. The total computing power of the acquired S21XP HYD Bitcoin mining machines is approximately 1,040,600 TH/s, with an acquisition amount of $21,852,600, and the initial conversion price of the convertible bonds is set at HKD 3.17 per share.]( Acquisition of 2,200 S21XP HYD Bitcoin Mining Machines from Fortune Peak
[]( Acquisition of 2,200 S21XP HYD Bitcoin Mining Machines from Fortune Peak
Hong Kong-listed company Yunfeng Financial Group Limited (Stock Code: 376.HK) announced that the company will issue a total of 191 million new shares through a placement method, with a placement price of HKD 6.1 per share, raising approximately HKD 1.17 billion. This placement aims to expand the shareholder and capital base of the company and increase the liquidity of the company's shares in the market. The fundraising will mainly be used for the group's system facility upgrades, talent recruitment, and related capital needs, including but not limited to launching comprehensive virtual asset trading services and virtual asset-related investment management services.
]( Selected Events in Hong Kong for September
We have specially compiled noteworthy events in the cryptocurrency field in Hong Kong for September, which will open a window to the future of Web3 for you.
<span style=)
[]( Selected Events in Hong Kong for September
We have specially compiled noteworthy events in the cryptocurrency field in Hong Kong for September, which will open a window to the future of Web3 for you.
<span style=)
[]( Selected Events in Hong Kong for September
We have specially compiled noteworthy events in the cryptocurrency field in Hong Kong for September, which will open a window to the future of Web3 for you.
The DAT strategy is becoming the standard path for traditional enterprises to enter the cryptocurrency world, evolving from Bitcoin to Ethereum to SOL, from simple holding to staking for yield, reshaping the institutional landscape of the entire cryptocurrency market. The mNAV of most Digital Asset Trusts (DAT) has basically approached parity, with the compression of ETH DAT being the most significant since May. We believe this indicates that the "DAT premium" is disappearing and has entered a valuation-constrained PvP phase.
[
]( 25 Basis Points DAT "Premium" is Disappearing
The mNAV of most Digital Asset Trusts (DAT) has basically approached parity, with the compression of ETH DAT being the most significant since May. We believe this indicates that the "DAT premium" is disappearing and has entered a valuation-constrained PvP phase.
<h3 dir=)[]( 25 Basis Points DAT "Premium" is Disappearing
The mNAV of most Digital Asset Trusts (DAT) has basically approached parity, with the compression of ETH DAT being the most significant since May. We believe this indicates that the "DAT premium" is disappearing and has entered a valuation-constrained PvP phase.
<h3 dir=)[The Shanghai High Court stated that the Baoshan District People's Court, in accordance with the guidelines for the disposal of virtual currency in criminal cases, successfully converted and disposed of over 90,000 FIL coins using the "domestic entrustment, overseas disposal, closed-loop return" method. The specific process includes: the People's Court entrusting a third-party institution that has been piloted to handle the virtual currency involved in the case; after the third-party institution provides performance guarantees, the overseas trading link is entrusted to a qualified overseas agent, assisting in completing the overseas disposal at a price not lower than the average price of the 20 days prior to the trading date on a licensed virtual asset trading platform certified by the Hong Kong Securities and Futures Commission; after fulfilling the national foreign exchange management approval procedures, the funds are converted and transferred to the exclusive account of the People's Court, which will subsequently be confiscated and turned over to the national treasury or returned to the victims according to the law.]( Over 90,000 FIL Tokens<p class=)
[A whale purchased "2 million HYPE" about 9 months ago at an average price of approximately "8.68 USD" per HYPE, with a purchase cost of about 17.4 million USD. This whale has unstaked the HYPE, and the current market value of this batch of tokens is approximately "107 million USD," likely preparing to sell for profit; the whale initially deposited 17.4 million USDC into Hyperliquid through three wallets to purchase these HYPE and subsequently performed staking operations.
]( 2 million HYPE, Market Value Approximately 107 Million USD or Profit Taking<p class=)
[]( 2 million HYPE, Market Value Approximately 107 Million USD or Profit Taking<p class=)[American insurtech company Reliance Global Group (NASDAQ: RELI) announced that its board has approved a strategic expansion plan to invest up to 120 million USD to build a basket of cryptocurrency assets, including Bitcoin, Ethereum, and Solana; this investment will be conducted in two phases, with the first phase being up to 60 million USD and the second phase up to another 60 million USD, depending on market and other conditions; the company has established a cryptocurrency advisory committee to manage this digital asset funding strategy and is also exploring tokenization opportunities for insurance-related assets to leverage blockchain technology to enhance the transparency, liquidity, and efficiency of the insurance asset market.
]( Reliance Global Approves Two-Phase Investment of 120 Million USD in Cryptocurrency<p class=)
[]( Reliance Global Approves Two-Phase Investment of 120 Million USD in Cryptocurrency<p class=)[Standard Chartered Bank's venture capital arm SC Ventures plans to recently launch a fundraising campaign to establish a 250 million USD fund, focusing on investing in digital assets in the financial services sector. The fund is planned to start next year, will receive support from Middle Eastern investors, and will focus on global investments. Additionally, this department plans to set up a 100 million USD Africa investment fund and is considering launching its first venture debt fund.
]( SC Ventures Plans to Raise $250 Million to Invest in Digital Assets<p class=)
[]( SC Ventures Plans to Raise $250 Million to Invest in Digital Assets<p class=)[Robinhood Markets Inc. (HOOD) plans to launch the "Robinhood Ventures Fund I," a publicly listed fund that provides retail investors in the U.S. with opportunities to invest in private companies. Its CEO, Vlad Tenev, stated that for decades, wealthy individuals and institutions have been able to invest in private companies while retail investors have been shut out, and the new fund will allow ordinary people to access investment opportunities that were previously reserved for the elite.
]( Plans to Launch Publicly Listed Fund to Provide U.S. Retail Investors with Opportunities to Invest in Private Companies<p class=)
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]( The Strategic Value of the USAT Compliance Model for the Hong Kong Issuance of the USD Stablecoin USHK
Although the Hong Kong Monetary Authority has not disclosed the specific custodian bank for its USD reserves, its years of accumulated experience in managing foreign exchange funds can still provide a solid institutional foundation for USHK. If the information disclosure mechanism can be further optimized in the future, it will be more beneficial for enhancing public trust.
<p class=)[]( The Strategic Value of the USAT Compliance Model for the Hong Kong Issuance of the USD Stablecoin USHK
Although the Hong Kong Monetary Authority has not disclosed the specific custodian bank for its USD reserves, its years of accumulated experience in managing foreign exchange funds can still provide a solid institutional foundation for USHK. If the information disclosure mechanism can be further optimized in the future, it will be more beneficial for enhancing public trust.
<p class=)[MetaMask has announced that mUSD is the first stablecoin launched directly by a self-custodied cryptocurrency wallet and will serve as the default dollar unit in its ecosystem. For MetaMask's own development, this move can enhance platform liquidity and protocol utility, attracting more users and funds; for its user base of over 100 million, the launch of mUSD can also lower the barriers and resistance to using stablecoins.Perspective
]( New Ecological Layout: Supporting Linea, MetaMask "Accelerates" the Launch of Stablecoin mUSD<p class=)
[]( New Ecological Layout: Supporting Linea, MetaMask "Accelerates" the Launch of Stablecoin mUSD
Under the design of the dual-track strategy of Base's native token and USDC, while the Base native token can be tied to network growth and USDC can carry the cash flow of real-world assets, it inevitably raises potential value games between shareholders and token holders.
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