Hong Kong Web3 Daily Must-Read: Bitcoin falls below $90,000, on-chain data analysis site DappRadar will gradually shut down due to financial difficulties.
Fear and Greed Index: 16 (Fear)
Bitcoin Price: $92,055
BTC/ETH Spot ETF Fund Flow (11.17)
BTC Net Outflow: $254.51 M
ETH Net Outflow: $182.80 M
Hong Kong
BTC/ETH Spot ETF Fund Flow (11.18)
BTC Net Subscription: 0 BTC
ETH Net Subscription: 0 ETH
[According to a report by Hong Kong's Sing Tao Daily, two men holding two-way permits are suspected of raping a woman at a hotel in Mong Kok earlier this month. Both have been charged with one count of rape and appeared in West Kowloon Magistrates' Court for the first time today. The two male defendants are 27-year-old Wang Bochuan and 24-year-old Xu Zilan, who are accused of raping woman X at the Mong Kok Rui Jing Hotel located at 23 Danan Street, Kowloon, Hong Kong on November 4, 2025.
]( Company BD and a former employee charged with rape by Hong Kong court
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[]( Company BD and a former employee charged with rape by Hong Kong court
<p class=)[Swiss cryptocurrency-friendly bank AMINA (Hong Kong) Limited has received an upgrade to a Type 1 license from the Hong Kong Securities and Futures Commission (SFC), becoming the first international banking group to offer cryptocurrency spot trading and asset custody to professional investors in Hong Kong. The services cover 24/7 trading, custody, and crypto asset deposits and withdrawals to whitelisted addresses, initially supporting 13 types of crypto assets (including Bitcoin, Ethereum, USDC, USDT, and major tokens), and utilizing SOC 1/2 Type 2 level infrastructure. AMINA stated that it will subsequently expand to private fund management, structured products, derivatives, and RWA tokenization, targeting institutions, enterprises, and high-net-worth clients.
]( AMINA receives Hong Kong SFC Type 1 license, allowing cryptocurrency trading and custody services
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[
DAT
]( Selected activities in Hong Kong for November
We have specially compiled noteworthy activities in the cryptocurrency field in Hong Kong for November, which will open a window to the future of Web3 for you.
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[]( Selected activities in Hong Kong for November
We have specially compiled noteworthy activities in the cryptocurrency field in Hong Kong for November, which will open a window to the future of Web3 for you.
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]( BTC is down, how is your DAT stock doing?
When the crypto market corrects, the leveraged nature of DAT stocks amplifies the decline. You might think you are buying "a premium BTC exposure," but in reality, it is a leveraged downturn accelerator. If you still hold these stocks, perhaps you should ask yourself: did you buy them for crypto exposure, or for that now non-existent premium illusion?
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[Regulation/Macro]( BTC is down, how is your DAT stock doing?
When the crypto market corrects, the leveraged nature of DAT stocks amplifies the decline. You might think you are buying "a premium BTC exposure," but in reality, it is a leveraged downturn accelerator. If you still hold these stocks, perhaps you should ask yourself: did you buy them for crypto exposure, or for that now non-existent premium illusion?
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[]( USDT Property Rights Case
The Russian Constitutional Court is currently hearing a key case that will determine whether citizens have "property rights" to fiat-pegged stablecoins like USDT. Several regulatory experts have informed the court that stablecoins like USDT do not fall under the category of "Digital Financial Assets (DFA)" under Russian law and are not subject to the country's digital currency circulation rules.
The U.S. White House has begun reviewing a proposal submitted by the Treasury Department to join the "Crypto Asset Reporting Framework (CARF)." CARF was initiated by the OECD in 2022, aiming to combat offshore tax evasion through automatic information sharing among member countries; many countries (including most G7 nations) have signed on. If approved, the IRS will be able to access data on U.S. taxpayers' overseas crypto accounts. Advisors to the Trump administration previously supported U.S. participation and emphasized that the rules should not impose new reporting obligations on DeFi transactions. The global implementation of CARF is expected to advance starting in 2027.
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[The Wyoming Stablecoin Committee has announced it will hold a public meeting on November 20, with a specific agenda to be published on its official website. The committee was established under Senate Bill No. 85, the "Wyoming Stable Token Act," and is authorized to issue "Wyoming Stable Tokens." According to the legislative authorization, the committee consists of the governor or their designated representative, the state auditor or their designated representative, the state treasurer or their designated representative, and four field experts: Flavia Naves, David Pope, Jeff Wallace, Joel Revill; Anthony Apollo is the current executive director.]( Public meeting on November 20
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[Project/Company Updates]( Public meeting on November 20<div class=)
[]( Polygon introduces "Verified Username" transfers for self-custody wallets
Mastercard has chosen Polygon to support its new system, allowing users to send money directly to "verified usernames" without the need for lengthy wallet addresses. Mastercard's crypto credentials enable readable aliases, standardizing blockchain address verification; identity verification and alias issuance are handled by Mercuryo, allowing users to associate aliases with self-custody wallets. Additionally, users can apply for tokens on Polygon to prove their wallet supports verified transfers, facilitating the processing of credential-based transactions.
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]( DappRadar to gradually shut down due to financial difficulties
The on-chain data analysis site DappRadar announced via Twitter that the platform will gradually shut down. In the current environment, operating a project of such scale is difficult to achieve financial sustainability, and after exhausting all possibilities, the difficult decision to close has been made. DappRadar started in 2018, inspired by Cryptokitties, aiming to help people explore and understand decentralized applications. The platform will soon begin winding down operations, stop tracking blockchain and decentralized application data, and gradually close related services. Regarding DAO and RADAR token matters, further announcements will be made through regular DAO channels, with important decisions still pending, and community participation in discussions is anticipated.
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[In-Depth & Outlook]( DappRadar to gradually shut down due to financial difficulties
The on-chain data analysis site DappRadar announced via Twitter that the platform will gradually shut down. In the current environment, operating a project of such scale is difficult to achieve financial sustainability, and after exhausting all possibilities, the difficult decision to close has been made. DappRadar started in 2018, inspired by Cryptokitties, aiming to help people explore and understand decentralized applications. The platform will soon begin winding down operations, stop tracking blockchain and decentralized application data, and gradually close related services. Regarding DAO and RADAR token matters, further announcements will be made through regular DAO channels, with important decisions still pending, and community participation in discussions is anticipated.
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[]( Obtaining Ireland's MiCAR license: Compliance opportunities for DeFi
Under the traditional DeFi model, Aave's core value lies in providing non-custodial on-chain lending and liquidity services, allowing users to deposit, borrow, and swap interest rates directly through the protocol. However, this model, while decentralized, still has inherent limitations in real-world payments and fiat conversions. Users cannot directly use crypto assets for daily consumption or easily convert assets into euros or other fiat currencies, which somewhat restricts the mainstreaming and scaling of DeFi.
From a long-term vision, the integration of robots × AI × Web3 aims to build a decentralized machine economy system (DeRobot Economy), promoting embodied intelligence from "standalone automation" to "verifiable, settleable, governable" networked collaboration.
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[]( $90,000, the "bear market" has arrived, will $80,000 become the new key "support level"?
Considering the current market situation and various opinions, it is clear that the crypto market will continue to decline for some time. Especially after experiencing the "10.11" flash crash and a decline lasting more than a month, the market is unlikely to quickly form sustained buying pressure. With some institutions and whales increasing their holdings, whether $80,000 can become a solid support level for Bitcoin's price has become the focus of market attention.
Investment ultimately boils down to one question: Has the market already priced it in? This is always the hardest judgment to make. But market performance is revealing an awkward truth: we have gotten everything we asked for, yet we have not been able to shake the price.
