Hong Kong Web3 Daily Must-Read: Polymarket may issue tokens in 2026, Hong Kong virtual asset ETP asset management scale surpasses HKD 8.1 billion.

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10 hours ago

整理:Nona,Techub News

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[](The virtual asset ETP asset management scale reached HKD 8.1 billion at the end of September

Jean-Francois Mesnard-Sense, Senior Vice President of the Securities Product Development Department of the Hong Kong Stock Exchange, stated in an interview that the liquidity of the Hong Kong ETF market ranks third globally, with an average daily trading volume of nearly HKD 38 billion as of the end of September this year.

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Hong Kong Financial Secretary Paul Chan pointed out in the latest issue of the Chief Executive's essay "From New York to Washington" that during the annual meetings of the International Monetary Fund and the World Bank Group, members of various economies recognized that the influence of digital assets is expanding rapidly, and there are many application scenarios for related blockchain technology in reality, especially in promoting intra-regional trade and addressing the efficiency and pain points of cross-border settlement, where digital assets such as stablecoins have considerable development potential. International cooperation should be strengthened to prudently manage the risks they pose to the stability of the financial system.

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In my personal judgment, the greater value of the digital renminbi lies in promoting the internationalization of the renminbi, and Hong Kong is likely to become an important promotional window. In the future, the issuance mechanism of the Hong Kong dollar may present a new pattern similar to a "dual-track system"—gradually increasing the proportion of assets such as digital renminbi while maintaining the existing 100% US dollar reserves, forming a more diversified reserve structure.

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[DAT

](Selected events in Hong Kong for October

We have specially compiled noteworthy events in the crypto field in Hong Kong for October, which will open a window to the future of Web3 for you.

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[](Selected events in Hong Kong for October

We have specially compiled noteworthy events in the crypto field in Hong Kong for October, which will open a window to the future of Web3 for you.

<span style=)[Regulation/Macro

](DAT company AVAX One receives $21 million investment from M2 Capital

The UAE investment institution M2 Capital announced a $21 million investment in DAT company AVAX One, which is listed on the US stock market. The company stated in a statement that this move is to support the development of Avalanche and the adoption of regulated digital assets in the Middle East.

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[](DAT company AVAX One receives $21 million investment from M2 Capital

The UAE investment institution M2 Capital announced a $21 million investment in DAT company AVAX One, which is listed on the US stock market. The company stated in a statement that this move is to support the development of Avalanche and the adoption of regulated digital assets in the Middle East.

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[](DAT company AVAX One receives $21 million investment from M2 Capital

The UAE investment institution M2 Capital announced a $21 million investment in DAT company AVAX One, which is listed on the US stock market. The company stated in a statement that this move is to support the development of Avalanche and the adoption of regulated digital assets in the Middle East.

Lee Eok-won, Chairman of the Financial Services Commission of South Korea, responded to inquiries from members of the People Power Party regarding the need to "prevent interest payments in any form" by stating, "In principle, interest payments on stablecoins will be prohibited." Lee Eok-won indicated that the US "Genius Act" prohibits interest generated from holding or using settlement-type stablecoins, and South Korea has also indicated it will adhere to this principle.

MIT graduates Anton Peraire-Bueno and James Peraire-Bueno are suspected of planning for months a scheme called "Omakase" aimed at manipulating the Ethereum MEV-Boost protocol, profiting $25 million from it.

The Financial Services Agency (FSA) of Japan will begin considering a system reform to allow banks to purchase and hold cryptocurrencies such as Bitcoin for investment purposes. The agency also plans to implement certain regulatory measures to ensure the financial soundness of banks. This matter will be discussed at the upcoming meeting of the Financial Services Commission's working group. Additionally, the FSA will consider allowing banking groups to register as "cryptocurrency exchange operators."

The Federal Reserve will hold a conference on payment innovation on October 21 local time. The agenda shows that representatives from the cryptocurrency industry, including Chainlink, Paxos, Circle, and Coinbase, will participate in the conference. Discussion topics include the connection between traditional finance and digital assets, use cases and business models of stablecoins, artificial intelligence in payments, and tokenized products.

<h3 dir=)

[](A payment innovation conference will be held on October 21, with industry representatives such as Chainlink attending

The Federal Reserve will hold a conference on payment innovation on October 21 local time. The agenda shows that representatives from the cryptocurrency industry, including Chainlink, Paxos, Circle, and Coinbase, will participate in the conference. Discussion topics include the connection between traditional finance and digital assets, use cases and business models of stablecoins, artificial intelligence in payments, and tokenized products.

<h3 dir=)

[](A payment innovation conference will be held on October 21, with industry representatives such as Chainlink attending

The Federal Reserve will hold a conference on payment innovation on October 21 local time. The agenda shows that representatives from the cryptocurrency industry, including Chainlink, Paxos, Circle, and Coinbase, will participate in the conference. Discussion topics include the connection between traditional finance and digital assets, use cases and business models of stablecoins, artificial intelligence in payments, and tokenized products.

<h3 dir=)

[](A payment innovation conference will be held on October 21, with industry representatives such as Chainlink attending

The Federal Reserve will hold a conference on payment innovation on October 21 local time. The agenda shows that representatives from the cryptocurrency industry, including Chainlink, Paxos, Circle, and Coinbase, will participate in the conference. Discussion topics include the connection between traditional finance and digital assets, use cases and business models of stablecoins, artificial intelligence in payments, and tokenized products.

<h3 dir=)

[](A payment innovation conference will be held on October 21, with industry representatives such as Chainlink attending

The Federal Reserve will hold a conference on payment innovation on October 21 local time. The agenda shows that representatives from the cryptocurrency industry, including Chainlink, Paxos, Circle, and Coinbase, will participate in the conference. Discussion topics include the connection between traditional finance and digital assets, use cases and business models of stablecoins, artificial intelligence in payments, and tokenized products.

<h3 dir=)[BlackRock iShares Bitcoin ETP is now listed on the London Stock Exchange, backed by Bitcoin held through Coinbase.

](iShares Bitcoin ETP listed on the London Stock Exchange<p class=)

[](iShares Bitcoin ETP listed on the London Stock Exchange<p class=)[Due to AWS outages, many users are currently unable to access Coinbase. The team is addressing this issue and will provide updates in a timely manner. All funds are secure.

](Access issues due to AWS outages, all funds secure<p class=)

[](Access issues due to AWS outages, all funds secure<p class=)[Polymarket plans to launch its own native cryptocurrency token, but it may not be released until next year. Sources reveal that Polymarket plans to re-establish itself in the US market before launching the token. Polymarket CEO Shayne Coplan hinted at the launch of the token with "$POLY" in a post on X earlier this month, sparking speculation in the community.

](Token may be issued in 2026<p class=)

[](Token may be issued in 2026<p class=)[The Mt. Gox trustee must complete the three-phase process of basic repayment, early one-time repayment, and mid-term repayment for Bitcoin creditors by October 31. Currently, approximately 34,689 Bitcoins remain in associated wallets, with Bitcoin and Bitcoin Cash distributed through Bitstamp, Kraken, or cash, some through BitGo custody. Historical data shows that about 64.1% of funds have been transferred to CEX; if applied to the remaining balance, the worst-case scenario could involve about 22,253 Bitcoins entering the market simultaneously, with potential selling pressure of about $2.4 billion. Kraken and Bitstamp have processing windows of up to 90 days and 60 days, respectively, and actual deposits will be staggered, possibly avoiding the order book through custody or OTC paths.

](Gox three-phase repayment deadline is October 31, with approximately 34,689 Bitcoins potentially entering the market<p class=)

[In-depth & Outlook](Gox three-phase repayment deadline is October 31, with approximately 34,689 Bitcoins potentially entering the market<p class=)

](Cryptocurrency is too difficult

Since "Black Friday," about half of cryptocurrency traders have lost all their assets, many of whom may never return to the trading market. While a successful trade means another person's failure, in this event, the funds flowed to the exchanges, which also means that both retail and professional traders have become poorer.

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[](Cryptocurrency is too difficult

Since "Black Friday," about half of cryptocurrency traders have lost all their assets, many of whom may never return to the trading market. While a successful trade means another person's failure, in this event, the funds flowed to the exchanges, which also means that both retail and professional traders have become poorer.

<p class=)[

](

The key to avoiding the "self-laundering" trap is to not come into contact with funds of unknown origin, ensuring that fund handling is natural and reasonable, including never using others' accounts for transactions, avoiding trading behaviors that are obviously inconsistent with one's own income and consumption habits, and being cautious with cash to prevent concealing the flow of funds through dispersed deposits or frequent transfers.

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[Viewpoint](

The key to avoiding the "self-laundering" trap is to not come into contact with funds of unknown origin, ensuring that fund handling is natural and reasonable, including never using others' accounts for transactions, avoiding trading behaviors that are obviously inconsistent with one's own income and consumption habits, and being cautious with cash to prevent concealing the flow of funds through dispersed deposits or frequent transfers.

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[Going long on Bitcoin: I personally believe that de-dollarization is more beneficial for Bitcoin than for other altcoins. Moreover, after the recent "1011" crash, it is clear that Bitcoin is the only asset with real order book liquidity and buying pressure, and Bitcoin's dominance seems to be on the rise.

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[](<p class=)[My judgment is: the real bull market has not yet begun, and it is expected to start in the second quarter of 2026. By then, the Federal Reserve will likely lower interest rates to a sufficiently low level, the US housing market will gradually "unfreeze," and the accumulated liquidity will flow back into risk assets.

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