Hong Kong Web3 Daily Must-Read: JPMorgan will support Bitcoin and Ethereum as collateral, El Salvador has increased its holdings by 8 BTC in the past 7 days.
Fear and Greed Index: 42 (Neutral)
Bitcoin Price: $115,282
BTC/ETH Spot ETF Fund Flow (Last Week)
BTC Net Inflow: $446.36 M
ETH Net Outflow: $243.91 M
Hong Kong
BTC/ETH Spot ETF Fund Flow (Last Week)
BTC Net Redemption: 103.66 BTC
ETH Net Subscription: 0.02 ETH
[](
Poly Group issued a statement claiming that it and its subsidiaries have not organized or participated in any activities related to Hong Kong stablecoins or stablecoin funds. The statement pointed out that the Hong Kong registered entities named "Poly Digital Industry Group Co., Ltd.", "Poly Digital Asset Co., Ltd." and "Poly Digital Asset Issuance Co., Ltd." have no equity or affiliation with Poly Group and its subsidiaries, nor do they have any investment, cooperation, or business relationship.
<div class=)[Regulation/Macro
]( Selected Activities in Hong Kong for October
We have specially compiled noteworthy activities in the crypto field in Hong Kong for October, which will open a window to the future of Web3 for you.
<span style=)
[]( Selected Activities in Hong Kong for October
We have specially compiled noteworthy activities in the crypto field in Hong Kong for October, which will open a window to the future of Web3 for you.
<span style=)
[]( Selected Activities in Hong Kong for October
We have specially compiled noteworthy activities in the crypto field in Hong Kong for October, which will open a window to the future of Web3 for you.
According to China News Service, the "Report on the Situation of Financial Work" submitted to the 14th National People's Congress Standing Committee for review on the 26th pointed out that the operating and regulatory indicators of Chinese financial institutions remain within a reasonable range. The financial regulatory system has been further improved. The high-level opening of the financial sector is expanding in an orderly manner. International financial cooperation continues to deepen, and the ability to maintain national financial security is continuously enhanced.
Trump and Malaysian Prime Minister Anwar signed a trade agreement and a critical mineral agreement, hoping to promote trade in Southeast Asia. U.S. Trade Representative Jamieson Greer stated at the signing ceremony in Kuala Lumpur, "Malaysia will modify its tariff and non-tariff barriers, and we intend to conduct more trade. Agriculture, technology, and services are expected to benefit from this agreement." This critical mineral agreement ensures that rare earth trade and investment are "as free and flexible as possible."
<h3 dir=)
[](
Trump and Malaysian Prime Minister Anwar signed a trade agreement and a critical mineral agreement, hoping to promote trade in Southeast Asia. U.S. Trade Representative Jamieson Greer stated at the signing ceremony in Kuala Lumpur, "Malaysia will modify its tariff and non-tariff barriers, and we intend to conduct more trade. Agriculture, technology, and services are expected to benefit from this agreement." This critical mineral agreement ensures that rare earth trade and investment are "as free and flexible as possible."
<h3 dir=)
[](
Trump and Malaysian Prime Minister Anwar signed a trade agreement and a critical mineral agreement, hoping to promote trade in Southeast Asia. U.S. Trade Representative Jamieson Greer stated at the signing ceremony in Kuala Lumpur, "Malaysia will modify its tariff and non-tariff barriers, and we intend to conduct more trade. Agriculture, technology, and services are expected to benefit from this agreement." This critical mineral agreement ensures that rare earth trade and investment are "as free and flexible as possible."
<h3 dir=)
[](
Trump and Malaysian Prime Minister Anwar signed a trade agreement and a critical mineral agreement, hoping to promote trade in Southeast Asia. U.S. Trade Representative Jamieson Greer stated at the signing ceremony in Kuala Lumpur, "Malaysia will modify its tariff and non-tariff barriers, and we intend to conduct more trade. Agriculture, technology, and services are expected to benefit from this agreement." This critical mineral agreement ensures that rare earth trade and investment are "as free and flexible as possible."
<p class=)Binance.US has limited operational scope and remains structurally independent from the global exchange. Binance is considering a range of strategic options, including integrating Binance.US into its global business or allowing its global exchange to enter the U.S. market directly. Markus Thielen, CEO of 10x Research, revealed that Binance's U.S. subsidiary is likely to be reintegrated into the global Binance ecosystem, allowing U.S. investors to access the platform's liquidity and derivatives services directly.
[Ferrari plans to launch a digital token "Token Ferrari 499P". This token will be used for the auction of the Ferrari 499P race car, which has won the Le Mans 24-hour endurance race three times in a row.
]( Ferrari 499P<p class=)
[]( Ferrari 499P<p class=)[The regulatory agency in Nevada, USA, issued a "cease and desist" order to the crypto custodian Fortress Trust (now renamed Elemental Financial Technologies), stating that its liquidity is "severely insufficient" and it can no longer fulfill customer withdrawal obligations. Court documents show that Fortress owes customers over $8 million in fiat and $4 million in crypto assets, with less than $200,000 in cash and about $1 million in crypto assets remaining. Earlier in 2023, Ripple had planned to acquire the company but withdrew the deal after it lost millions due to a hacking incident.
]( Fortress Trust issued a "cease and desist" order<p class=)
[]( Fortress Trust issued a "cease and desist" order<p class=)[A U.S. government-controlled address recently transferred OCEAN tokens seized from Alameda Research two years ago, with a transfer amount of only about $36.
]( OCEAN tokens, involving approximately $36<p class=)
[]( OCEAN tokens, involving approximately $36<p class=)[Crypto.com tweeted that it has submitted a national trust bank license application to the U.S. Office of the Comptroller of the Currency.
]( Submitted a national trust bank license application to the U.S. Office of the Comptroller of the Currency<p class=)
[]( Submitted a national trust bank license application to the U.S. Office of the Comptroller of the Currency<p class=)[Grayscale announced that its multi-asset crypto fund Grayscale CoinDesk Crypto 5 ETF (stock code: GDLC) has officially been listed on NYSE Arca. The fund covers five major mainstream crypto assets, including Bitcoin, Ethereum, Solana, XRP, and Cardano, aiming to provide traditional investors with a one-stop digital asset exposure.
]( GDLC ETF listed on the New York Stock Exchange<p class=)
[]( GDLC ETF listed on the New York Stock Exchange<p class=)[JPMorgan will allow clients to use Bitcoin and Ethereum as collateral, marking the bank's further expansion into the cryptocurrency business.
](<p class=)
[](<p class=)[
The Monetary Authority of Singapore (MAS) has launched an investigation into whether Chen Zhisheng, the head of the "Prince Group," violated regulations by establishing a Singapore company, DW Capital Holdings (DWC). Chen Zhisheng established the Singapore company DWC in 2018 to manage family office assets and claims to manage over 60 million Singapore dollars, including 10 million Singapore dollars in auto financing, 30 million Singapore dollars in boutique brewing, and about 20 million Singapore dollars in yacht management and other ancillary services. DWC claims to meet the conditions of the MAS's 13X program and thus enjoys tax exemptions.
]( Investigation into DW Capital Holdings launched<div class=)
[In-Depth & Outlook]( Investigation into DW Capital Holdings launched<div class=)
[The proposal for "streamlined accounts" marks a fundamental shift in the Federal Reserve's attitude towards fintech, particularly crypto assets—from past skepticism and scrutiny to active acceptance and integration. As Federal Reserve Governor Waller clearly stated, the DeFi industry is no longer met with doubt or ridicule; the Federal Reserve will "embrace disruption rather than shy away from destruction."
]( Integration of AI and crypto payments<p class=)
[]( Integration of AI and crypto payments<p class=)[Stablecoins have evolved from crypto trading tools to infrastructure, and the core questions we are asked daily include: What specific use cases do stablecoins have? What capabilities can they provide that traditional fiat currencies cannot? The most natural starting point is to view stablecoins as a brand new payment infrastructure and assess their potential benefits—such as instant, 24/7 settlement—especially in the context of cross-border payments and remittances.
Perspective
]( Quietly opening the gates to on-chain lending<p class=)
[]( Quietly opening the gates to on-chain lending<p class=)[
](
Platforms represented by Polymarket and Kalshi have repeatedly surpassed daily trading volumes of $100 million, with cumulative trading volumes reaching hundreds of billions of dollars, marking a key turning point for prediction markets from niche tools to mainstream financial markets.
