Welcome to read Techub News's "Weekly Highlights of Hong Kong Web3." In this week's report, we will summarize the significant events and developments in the Hong Kong Web3 sector from December 29 to January 4, along with the latest data insights and detailed event previews, helping you quickly and comprehensively understand the progress in Hong Kong's Web3 field last week.
Hot News
According to Caixin, as Hainan Island enters the stage of customs closure operations, the overall positioning of the Hainan Free Trade Port will complement rather than compete with Hong Kong. The report points out that Hainan's core advantage lies in its backing by China, the world's second-largest economy, providing greater physical space and hinterland market…
According to Lianhe Zaobao, Tam Hiu Fung, son of Alan Tam, is currently a senior software engineer at a Web3 startup, focusing on developing digital wallets and cryptographic protocols. Tam Hiu Fung previously worked at Canadian gaming company Axiom Zen…
Derin Securities approved to provide virtual asset trading services, upgrading to Class 1 license
According to Gelonghui, Derin Holdings (01709.HK) announced that on December 29, 2025, its subsidiary, Derin Securities (Hong Kong) Limited ("Derin Securities"), in which it holds a 70% stake, has received conditional approval from the Hong Kong Securities and Futures Commission to provide virtual asset trading services under a comprehensive account arrangement…
According to Ming Pao, the unlicensed virtual asset trading platform JPEX was revealed to be involved in fraud in 2023, with multiple artists and influencers implicated in deceiving investors into investing in JPEX and losing their assets. A total of 16 people have been prosecuted in the case…
Industry Observation
Jupiter's ten million dollar "sunk cost," what will save the token price after the buyback fails?
As one of the most profitable DeFi protocols globally, Jupiter's "cash capability" has failed. Over the past year, it has spent more than $70 million on buybacks but still cannot stop the continuous decline of the token.
Faced with the awkward situation of "the more buybacks, the more it falls," Jupiter recently sought community opinions, attempting to pause the buyback narrative and explore a new reward paradigm. Additionally, Helium founder Amir stated that the market seems indifferent to project teams buying back tokens from the market, so under the current circumstances, they will stop wasting funds on HNT buybacks.
How will the digital renminbi, entering the era of digital deposit currency, protect user rights?
According to a piece by Lu Lei, Deputy Governor of the People's Bank of China, published in the Financial Times titled "Digital Renminbi Will Transition from the Era of Digital Cash to Digital Deposit Currency," the new generation of digital renminbi system will officially be implemented on January 1, 2026, marked by the "Action Plan for Further Strengthening the Management Service System of Digital Renminbi and Related Financial Infrastructure Construction."
This evolution is not only a technological upgrade but also a profound transformation of currency form, operational mechanisms, and governance logic. In this process, how to build a privacy and security governance system that effectively serves the real economy, strengthens financial regulation, and fully respects and protects users' personal information rights has become a core issue for the healthy development of digital renminbi.
On January 1, 2026, Hong Kong's financial system will officially implement a globally accepted "risk metric." According to Caixin on December 29, the Hong Kong Monetary Authority has confirmed that starting from that date, Hong Kong will fully implement capital requirements for crypto asset regulation based on the latest standards from the Basel Committee on Banking Supervision (BCBS). This move not only makes Hong Kong the first major financial center in Asia to align with this international regulatory framework but also marks its cautious regulation of crypto assets, transitioning from localized pilots to comprehensive, systematic international integration.
The dynamics of South Korean crypto exchanges are constantly evolving. By the end of 2025, South Korean financial giant Mirae Asset Group was reported to be advancing the acquisition of shares in Korbit, the fourth-largest cryptocurrency exchange in Korea. The news of traditional financial giants entering the cryptocurrency market has once again attracted attention to the South Korean market.
Currently, Mirae Asset Group has engaged with Korbit's largest shareholder NXC and its second-largest shareholder SK Planet, and has signed a memorandum of understanding (MOU). The agreement covers shares amounting to the total holdings of both parties, with the transaction valuation expected to be between 100 billion to 140 billion Korean won (approximately $70 million to $100 million). Due to confidentiality agreements, Mirae Asset cannot confirm specific details publicly.
Data Insights
Hong Kong Bitcoin & Ethereum Spot ETF Inflows and Outflows
According to ichaingo data statistics, last week, the net redemption amount of Hong Kong Bitcoin spot ETF was 14.09 units, with a total ETF holding value of approximately $337 million, an increase of about $5 million in holding value; the net redemption amount of Ethereum spot ETF was 273.34 units, with a total ETF holding value of approximately $9.615 million, an increase of about $340,000 in holding value.
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