Hong Kong Web3 Daily Must-Read: The Ethereum Foundation has sold approximately 21,000 Ethereum in the past three months, and about 354 million dollars were liquidated across the network in 12 hours.
Fear and Greed Index: 58 (Neutral)
Bitcoin Price: $122,296
BTC/ETH Spot ETF Fund Flow (10.3)
BTC Net Inflow: $985.08 M
ETH Net Inflow: $233.05 M
Hong Kong
BTC/ETH Spot ETF Fund Flow (9.30)
BTC Net Subscription: 0 BTC
ETH Net Subscription: 0 ETH
[Regulation/Macro](Selected Activities in Hong Kong for October
We have specially compiled noteworthy activities in the crypto space 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 space 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 space in Hong Kong for October, which will open a window to the future of Web3 for you.
The UK's Financial Conduct Authority (FCA) announced that it will lift the ban on retail investors purchasing cryptocurrency exchange-traded notes (ETNs) starting next week, provided that the relevant products are listed on FCA-approved local investment exchanges in the UK. Unlike ETFs, ETNs are debt securities linked to crypto assets without any underlying asset backing. Notably, the FCA has not lifted the retail ban on crypto ETFs or derivatives simultaneously.
On October 3, local time, the U.S. Senate voted on a temporary funding bill proposed by the Democrats, which ultimately failed to pass with 46 votes in favor and 52 against. Subsequently, the temporary funding bill proposed by the Republicans also failed to secure enough votes. The federal government will continue to be "shut down." As of 12:00 AM on October 1, the U.S. federal government has been "shut down" due to a lack of funding. This is the first "shutdown" of the federal government in nearly seven years.
<h3 dir=)
[](
On October 3, local time, the U.S. Senate voted on a temporary funding bill proposed by the Democrats, which ultimately failed to pass with 46 votes in favor and 52 against. Subsequently, the temporary funding bill proposed by the Republicans also failed to secure enough votes. The federal government will continue to be "shut down." As of 12:00 AM on October 1, the U.S. federal government has been "shut down" due to a lack of funding. This is the first "shutdown" of the federal government in nearly seven years.
<h3 dir=)
[](
On October 3, local time, the U.S. Senate voted on a temporary funding bill proposed by the Democrats, which ultimately failed to pass with 46 votes in favor and 52 against. Subsequently, the temporary funding bill proposed by the Republicans also failed to secure enough votes. The federal government will continue to be "shut down." As of 12:00 AM on October 1, the U.S. federal government has been "shut down" due to a lack of funding. This is the first "shutdown" of the federal government in nearly seven years.
<h3 dir=)
[](
On October 3, local time, the U.S. Senate voted on a temporary funding bill proposed by the Democrats, which ultimately failed to pass with 46 votes in favor and 52 against. Subsequently, the temporary funding bill proposed by the Republicans also failed to secure enough votes. The federal government will continue to be "shut down." As of 12:00 AM on October 1, the U.S. federal government has been "shut down" due to a lack of funding. This is the first "shutdown" of the federal government in nearly seven years.
Bitwise CEO Hunter Horsley announced that Bitwise has submitted the S-1 filing for the Aptos ETF.
The U.S. Federal Deposit Insurance Corporation (FDIC) announced that its board will review a proposed rulemaking notice "regarding prohibiting regulators from using reputational risk." Although the agenda does not explicitly mention disruptions to banking services related to digital assets, Acting Chairman Travis Hill has previously criticized regulators for preventing some banks from engaging in crypto business (such as allowing customers to transfer to exchanges) under the guise of "reputational risk."
FTX tweeted a reminder for users to be cautious of phishing emails that appear to be from Kroll or the FTX Recovery Trust, as well as some websites that seem to be FTX customer portals. FTX emphasized that the official will not ask users to connect their wallets.
MetaMask plans to launch a points program where users will earn points for transactions and cross-chain activities. According to information on the official website, these points can be redeemed for token rewards in the future.
<div class=)
Walmart's fintech company OnePay plans to launch cryptocurrency trading and custody services in its mobile app later this year. Users will be able to trade Bitcoin and Ethereum, and the service will be developed in collaboration with the startup Zerohash.
]( OnePay Plans to Launch Cryptocurrency Services
<div class=)
[](21,000 Ethereum
The DeFi multi-signature wallet of the Ethereum Foundation exchanged 1,000 Ethereum for 4.508 million DAI in the past 7 hours. In the last three months, the Ethereum Foundation has sold 21,000 Ethereum, worth approximately $72.94 million, including selling 10,000 Ethereum (worth about $25.73 million) to SharpLink on July 11; transferring 10,000 Ethereum (worth about $42.70 million) to Kraken for sale on September 3; and selling another 1,000 Ethereum (worth about $4.51 million) today.
Coinbase is applying for a national trust company license from the U.S. Office of the Comptroller of the Currency (OCC). Greg Tusar, Vice President of Institutional Products at Coinbase, stated, "The OCC license will simplify the regulation of new products and promote ongoing innovation, integrating digital assets into traditional finance. We are not the first cryptocurrency company to apply for a federal license, nor will we be the last." Tusar noted that Coinbase does not intend to become a bank. So far, Paxos, BitGo, Ripple, and Circle have also applied for bank licenses from the OCC in response to the Trump administration's friendly regulatory environment for cryptocurrencies.
<div class=)[
](In Discussions with Antalpha Platform Holding to Raise at Least $200 Million for a Tokenized Gold Reserve Company
Antalpha Platform Holding, an affiliate of Bitmain, is in discussions with Tether regarding fundraising, aiming to raise at least $200 million for a publicly traded entity that will accumulate tokenized gold. If successful, the platform will use the funds to stockpile Tether-issued gold tokens XAUt.
<p class=)
[In-Depth & Outlook](In Discussions with Antalpha Platform Holding to Raise at Least $200 Million for a Tokenized Gold Reserve Company
Antalpha Platform Holding, an affiliate of Bitmain, is in discussions with Tether regarding fundraising, aiming to raise at least $200 million for a publicly traded entity that will accumulate tokenized gold. If successful, the platform will use the funds to stockpile Tether-issued gold tokens XAUt.
<p class=)
[](RWA-Backed CNH Stablecoin System
The "Electric RMB" provides a long-term "base anchor" for the internationalization of the RMB in the digital age, while the "Petro RMB" offers a "liquidity anchor" for trade and finance through the scalability and high liquidity of the petrochemical industry's RWAs. For a stablecoin to transition from narrative to system, the key lies not in the old or new technology, but in industry verifiability, legal enforceability, and financial sustainability.
Three years ago, low-risk DeFi did not exist; at that time, vulnerabilities and hacking risks were very high. But you see, the amount stolen in 2019 was 5% of DeFi's TVL, and this year it has dropped to 0.02%, which is very low. This indicates that the ecosystem takes time to mature, and it has now reached a relatively successful stage.
<div class=)
[
Regardless of the final outcome, the key window period in October will become an important turning point in the history of crypto ETFs. It will not only affect the prices of related cryptocurrencies but also determine the scale and speed of institutional capital inflow into cryptocurrencies. The crypto market is maturing, and the ETF decisions in October may be a key factor in further gaining mainstream recognition.
](SEC New Rules Render Decision Dates "Invalid": Which of the Five Candidates Will Pass the October Crypto ETF<div class=)