Organized by: Nona, Techub News
**TinTinLand
**
Fear-Greed Index: 26 (Fear)
Bitcoin Price: $103,193
BTC/ETH Spot ETF Fund Flow (11.11)
BTC Net Inflow: $126.64 M
ETH Net Outflow: $75.75 M
Hong Kong
BTC/ETH Spot ETF Fund Flow (11.11)
BTC Net Redemption: 122.43 BTC
ETH Net Subscription: 0 ETH
[](Speculators and Runaway Elements of RWA
A new thing must inevitably go through twists and cycles. RWA is still in an early bubble stage and needs a correction. A new good concept in China will inevitably be ravaged by sales meetings and capital panics. However, the future financial market globally will undoubtedly be the future of Tokenization, and this big direction is beyond doubt.
However, the outbreak of the JPEX case is not accidental; the cracks it exposes are precisely the gray areas that Hong Kong must face in the institutionalization process of digital assets. On the ruins of collapsed trust, regulators are rebuilding the scaffolding of order.
](Selected Activities in Hong Kong for November
We have specifically compiled noteworthy activities in the crypto field in Hong Kong for November, which will open a window to the future of Web3 for you.
<div data-v-c679a437=)[Regulation/Macro](Selected Activities in Hong Kong for November
We have specifically compiled noteworthy activities in the crypto field in Hong Kong for November, which will open a window to the future of Web3 for you.
<div data-v-c679a437=)[](Details of the 10,000 Bitcoin Money Laundering Case Revealed, Qian Zhimin Accumulated Approximately 190,000 Bitcoins
Qian Zhimin has accumulated 194,951 Bitcoins. He carried over 70,000 Bitcoins on a laptop when fleeing China. Reports indicate that his escape route was meticulously planned with assistance from multiple individuals. The final sentence will be officially announced by the presiding judge in 2025. The defense attorney has proposed reasons for a reduced sentence, stating that he has behaved well during detention, is a "model prisoner," and suffers from diabetes; it was also mentioned that he pleaded guilty during the hearing, saving judicial resources.
U.S. Treasury Secretary Scott Bessent tweeted that the Treasury and IRS have released new guidelines providing a "clear path" for cryptocurrency ETPs with staking functions. Under the safe harbor provisions of "Revenue Procedure 2025-31," eligible cryptocurrency ETPs or trusts can participate in PoS staking without changing their "investment trust/trustee trust" tax status. Core requirements include: the product is listed on a national securities exchange and reviewed by the SEC, holds only "single digital asset + cash," has private keys held by qualified custodians and executed by unrelated staking service providers, and can set liquidity reserves and emergency liquidity arrangements as per regulations.
The U.S. Senate Agriculture Committee has released a draft bill on the structure of the crypto market, defining key concepts such as "blockchain" under the Commodity Exchange Act framework, clarifying the Commodity Futures Trading Commission (CFTC)'s regulatory boundaries over the spot market and certain intermediaries, and directing the CFTC and the Securities and Exchange Commission (SEC) to jointly develop rules regarding margining and crypto intermediary regulation. The draft is still a preliminary version, with some provisions marked as "to be negotiated." It will need to be merged with the Senate Banking Committee's version before entering the formal marking and voting process. Industry insiders expect it will take at least several months before a full Senate vote, possibly as soon as the first quarter of 2026.
[](CFTC and SEC Jurisdiction
The U.S. Senate Agriculture Committee has released a draft bill on the structure of the crypto market, defining key concepts such as "blockchain" under the Commodity Exchange Act framework, clarifying the Commodity Futures Trading Commission (CFTC)'s regulatory boundaries over the spot market and certain intermediaries, and directing the CFTC and the Securities and Exchange Commission (SEC) to jointly develop rules regarding margining and crypto intermediary regulation. The draft is still a preliminary version, with some provisions marked as "to be negotiated." It will need to be merged with the Senate Banking Committee's version before entering the formal marking and voting process. Industry insiders expect it will take at least several months before a full Senate vote, possibly as soon as the first quarter of 2026.
<h3 dir=)[
](CFTC and SEC Jurisdiction
The U.S. Senate Agriculture Committee has released a draft bill on the structure of the crypto market, defining key concepts such as "blockchain" under the Commodity Exchange Act framework, clarifying the Commodity Futures Trading Commission (CFTC)'s regulatory boundaries over the spot market and certain intermediaries, and directing the CFTC and the Securities and Exchange Commission (SEC) to jointly develop rules regarding margining and crypto intermediary regulation. The draft is still a preliminary version, with some provisions marked as "to be negotiated." It will need to be merged with the Senate Banking Committee's version before entering the formal marking and voting process. Industry insiders expect it will take at least several months before a full Senate vote, possibly as soon as the first quarter of 2026.
<h3 dir=)[](CFTC and SEC Jurisdiction
The U.S. Senate Agriculture Committee has released a draft bill on the structure of the crypto market, defining key concepts such as "blockchain" under the Commodity Exchange Act framework, clarifying the Commodity Futures Trading Commission (CFTC)'s regulatory boundaries over the spot market and certain intermediaries, and directing the CFTC and the Securities and Exchange Commission (SEC) to jointly develop rules regarding margining and crypto intermediary regulation. The draft is still a preliminary version, with some provisions marked as "to be negotiated." It will need to be merged with the Senate Banking Committee's version before entering the formal marking and voting process. Industry insiders expect it will take at least several months before a full Senate vote, possibly as soon as the first quarter of 2026.
<h3 dir=)[Argentinian Federal Judge Marcelo Giorgi has ordered the freezing of funds related to the "LIBRA" Meme token incident and has imposed an indefinite asset freeze on the properties and financial accounts of Hayden Davis, Orlando Mellino, and Favio Rodriguez. This order was requested by Federal Prosecutor Eduardo Taino and supported by a technical report from the Financial Investigation and Asset Recovery Agency; the report indicated that there were abnormal transactions in the three individuals' crypto wallets, with investor losses potentially reaching $100 million to $120 million. The court stated that the case has "reasonable suspicion and potential risk" and requested the National Securities Commission to extend relevant measures to all associated platforms within the country.](Funds Related to "Token" Frozen, Assets of Three Practitioners Indefinitely Frozen<p class=)
[](Funds Related to "Token" Frozen, Assets of Three Practitioners Indefinitely Frozen<p class=)[Standard Chartered Bank has partnered with DCS Card Center to become the main banking partner for DeCard, supporting users in Singapore to complete daily payments using stablecoins and planning to expand to other major markets in the future. Standard Chartered stated it will provide DCS with virtual account services and API interfaces to facilitate instant identification and reconciliation, making transactions faster and more transparent.
](DCS Supports Stablecoin Credit Card DeCard in Singapore, Launching Daily "Stablecoin Payments"<p class=)
[](DCS Supports Stablecoin Credit Card DeCard in Singapore, Launching Daily "Stablecoin Payments"<p class=)[25usdc tweeted that hackers are using the Polymarket comment feature for fraudulent activities, with losses exceeding $500,000. The hackers simultaneously purchase "Yes" and "No" using different addresses to avoid their comments being filtered, then publish links to their fraudulent websites in a way that obscures the plaintext, leading to user data leaks and loss of funds.
](Fraudulent Activities Using Polymarket Comment Feature, Losses Exceeding $500,000<p class=)
[](Fraudulent Activities Using Polymarket Comment Feature, Losses Exceeding $500,000<p class=)[The head of the EF dAI Team tweeted that they are working with the management of the Ethereum Foundation to develop the dAI Team 2026 roadmap, aiming to establish Ethereum as a global decentralized settlement and collaboration platform for AI, enabling autonomous intelligent agents to interact with identity, assets, and data under publicly auditable rules. They expressed gratitude to the expanding community around the ERC-8004 and x402 protocols, stating that the two standards are becoming neutral norms for "agentic commerce," and are soliciting subsequent key support directions from teams building related applications.
](dAI 2026 Roadmap, Focusing on ERC-8004 and x402<p class=)
[](dAI 2026 Roadmap, Focusing on ERC-8004 and x402<p class=)[Balancer has released a proposal in the community to disable v2 pool factories across all networks and concentrate the new pool creation functionality in v3. The proposal suggests providing a migration path for existing v2 liquidity. It states that v3 has stronger architecture and security, and concentrating new liquidity will help enhance robustness and resource efficiency; the remaining v2 factories have previously been disabled, and this move will complete the retirement of the v2 pool creation infrastructure. The implementation will depend on the governance process and voting results.
](v2 Pool Factories, New Pool Creation Fully Migrated to v3<p class=)
[](
On the surface, this may seem like politicians arguing. However, it will directly affect whether funds flow in the market, as this is not just a political stalemate but also a liquidity freeze. Every government shutdown represents a contraction of liquidity. With fiscal spending paused, federal wages not being paid, and grant projects frozen, it means that the "money" in the market is being withdrawn.
Argentina has undeniably become the core testing ground for practical applications and innovations in the global Web3 space. The data is indisputable: from the overwhelming dominance of stablecoins in trading volume to its position among the top holders of digital assets globally, it all proves that cryptocurrency here is a mechanism for economic survival, rather than merely a speculative tool.
<div class=)[](Five Major Production-Level Expansions of the Protocol: How x402x Turns the Protocol into Profitable Infrastructure
The ideal outcome is to achieve native integration: using the x402 specification and x402x model as the official reference implementation. This will create a complete software package, allowing developers to integrate once to obtain both the protocol standards and the verified infrastructure simultaneously.
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