Fear and Greed Index: 15 (Extreme Fear)
Bitcoin Price: $87,098
BTC/ETH Spot ETF Fund Flow (11.20)
BTC Net Outflow: $357.24 M
ETH Net Outflow: $29.77 M
Hong Kong
BTC/ETH Spot ETF Fund Flow (11.20)
BTC Net Subscription: 0 BTC
ETH Net Subscription: 0 ETH
[Hong Kong-listed company Bit Metaverse appoints Su Lin as CEO, fully responsible for the investment decision-making system of its wholly-owned subsidiary Global Innovation Capital. In the Bit Metaverse system, Su Lin will lead the global investment direction of Global Innovation Capital. The institution is positioned as an "international bridge linking innovation and capital," focusing on the overseas expansion, listing, mergers and acquisitions, and cross-border capital events of Chinese artificial intelligence companies, capturing opportunities where valuation increases coexist with controllable risks through event-driven strategies, providing investors with more certain technology asset allocation solutions.
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<p class=)[The Hong Kong Financial Services and the Treasury Bureau and the Shenzhen Local Financial Supervision Bureau jointly released the "Action Plan for Jointly Building the Hong Kong-Shenzhen Global Fintech Center (2025–2027)," which points out that by the end of 2027, more than 20 cross-border data verification platform financial application scenarios will be established, promoting Shenzhen financial institutions to set up fintech subsidiaries in Hong Kong, driving continuous innovation in digital RMB application scenarios, supporting both regions to jointly participate in various central bank digital currency cross-border network (mBridge) projects' research and application, while encouraging Shenzhen enterprises to issue sustainable offshore RMB bonds in Hong Kong and supporting the establishment of green asset development platforms based on blockchain, smart contracts, and other technologies.
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](Selected Events in Hong Kong for November
We have specially compiled noteworthy events in the crypto field in Hong Kong for November, which will open a window to the future of Web3 for you.
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[Regulation/Macro](Selected Events in Hong Kong for November
We have specially compiled noteworthy events in the crypto field in Hong Kong for November, which will open a window to the future of Web3 for you.
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[India plans to launch a stable digital asset ARC pegged 1:1 to the rupee in the first quarter of 2026, jointly developed by Polygon and local fintech company Anq. ARC will operate on the basis of central bank digital currency (CBDC) and adopt a dual-layer structure, limited to corporate account issuance, aimed at curbing capital flow to dollar stablecoins and supporting domestic debt demand. The mechanism combines Uniswap v4 whitelist control to enhance compliance and monetary sovereignty protection.
](Launch of debt-backed stablecoin ARC in early 2026<p class=)
[](Launch of debt-backed stablecoin ARC in early 2026<p class=)[The Abu Dhabi Investment Council tripled its holdings in Bitcoin exchange-traded funds (ETFs) in the third quarter, just before the cryptocurrency bull market turned into a sell-off. According to a regulatory document, this institution, independently operated by the sovereign wealth fund Mubadala Investment Co., increased its holdings in BlackRock Inc.'s iShares Bitcoin Trust ETF to nearly 8 million shares as of September 30. The holding was disclosed by a subsidiary of ADIC and was valued at approximately $518 million at that time. Three months prior, the institution held 2.4 million shares.
](ETF holdings tripled<p class=)
[](ETF holdings tripled<p class=)[South Korean regulators are considering allowing tech companies to issue their own stablecoins. Anonymous industry insiders stated that the Financial Services Commission (FSC) of South Korea is seriously considering a proposal that would allow companies outside the financial industry to issue stablecoins. Previously, South Korean President Yoon Suk-yeol had promised to "open" the South Korean stablecoin market to domestic participants before his election in June, but has so far been obstructed by the Bank of Korea, which opposes non-financial companies having issuance rights.
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BlackRock (iShares) submitted an application for a staking Ethereum Trust ETF in Delaware.
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[](ETF Application
BlackRock (iShares) submitted an application for a staking Ethereum Trust ETF in Delaware.
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](ETF Application
BlackRock (iShares) submitted an application for a staking Ethereum Trust ETF in Delaware.
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[](ETF Application
BlackRock (iShares) submitted an application for a staking Ethereum Trust ETF in Delaware.
Swiss precious metals giant MKS PAMP SA is set to relaunch its gold token after its first attempt six years ago was thwarted, aiming to capitalize on the growing market interest in digital physical gold. MKS PAMP has acquired Gold Token SA to restart its digital gold project. This relaunch will involve the company's trading department purchasing tokens and providing liquidity on exchanges. MKS PAMP will only issue DGLD tokens to certified institutions, which can then sell the tokens on secondary cryptocurrency exchanges, with issuance and trading operations similar to other gold tokens. According to the company, the tokens can be exchanged for physical gold in denominations as low as 1 gram.
A worm virus targeting WhatsApp is spreading in Brazil, infecting phones and implanting the Eternidade Stealer Trojan, which can steal access to cryptocurrency wallets and banking apps, posing a serious threat to users' digital asset security.
GANA Payment was hacked on the BNB Chain, resulting in losses exceeding $3.1 million. The attacker has laundered 1,140 BNB (approximately $1.04 million) through the Tornado Cash mixing service and transferred some funds cross-chain to the Ethereum network, where 346.8 ETH (approximately $1.05 million) was deposited into the Ethereum version of Tornado Cash. Currently, about 346 ETH (approximately $1.046 million) remains in the Ethereum address, with no further transfers made.
The Uniswap Foundation released its quarterly unaudited financial summary as of September 30, which includes $54.4 million in cash and related assets, 15.3 million UNI tokens, and 241 ETH, with a total token market value of $116.6 million based on the closing price on September 30, 2025. As of the end of Q3 2025, the foundation's cumulative operating expenses amounted to $6.6 million, achieving $141.4 million in donations, dividends, and interest income.
WLFI will begin redistributing funds to users whose wallets were attacked due to phishing attacks or mnemonic phrase leaks. The issue stemmed from a third-party security vulnerability and is unrelated to the WLFI platform or smart contracts. The team has frozen the affected wallets and requested users to complete KYC verification to confirm ownership. At the same time, they have developed new smart contract logic to securely conduct bulk fund redistribution. Users who have completed and passed verification will soon receive their funds, while wallets of users who have not contacted or completed verification will remain frozen, and these users can still initiate the verification process through the WLFI help center.
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](Will confirm the acquisition plan of Upbit's parent company Dunamu at next week's board meeting
South Korean internet giant Naver plans to formally confirm its acquisition plan of Upbit's parent company Dunamu at next week's board meeting. Dunamu will also hold a board meeting on November 26 to finalize the acquisition details. Naver plans to use its fintech subsidiary Naver Financial for a full equity swap to acquire Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit. After both companies confirm the plan at their respective board meetings next week, they must also obtain approval from the shareholders' meeting to officially initiate the integration process. Industry insiders estimate that the share exchange ratio between Naver and Dunamu will be between 1 to 3 or 1 to 4.
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[In-Depth & Outlook](Will confirm the acquisition plan of Upbit's parent company Dunamu at next week's board meeting
South Korean internet giant Naver plans to formally confirm its acquisition plan of Upbit's parent company Dunamu at next week's board meeting. Dunamu will also hold a board meeting on November 26 to finalize the acquisition details. Naver plans to use its fintech subsidiary Naver Financial for a full equity swap to acquire Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit. After both companies confirm the plan at their respective board meetings next week, they must also obtain approval from the shareholders' meeting to officially initiate the integration process. Industry insiders estimate that the share exchange ratio between Naver and Dunamu will be between 1 to 3 or 1 to 4.
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[Driven by the growth of on-chain lending, the crypto industry's mortgage loans reached a new historical high at the end of the third quarter this year. Although this has finally surpassed the long-term peak set in the fourth quarter of 2021 nearly four years later, the current market landscape is vastly different.
](Q3 Crypto Leverage Report: Mortgage Loans Hit Historical Highs, but Foundations Are More Stable<p class=)
[](Q3 Crypto Leverage Report: Mortgage Loans Hit Historical Highs, but Foundations Are More Stable<p class=)[
From a long-term perspective, the acceleration of regulatory policies and the slowdown or reversal of market downtrends will provide growth momentum for the ETF market. If market sentiment can be restored and investor confidence rebounds, funds will be more willing to flow into the altcoin ETF market. It is expected that at the beginning of next year, with the dual effects of favorable policies and improved market sentiment, altcoin ETFs are likely to usher in a real explosive period.
](New "Troops" Added to ETFs, but Fund Inflows Struggle to Halt Coin Price Decline; Altcoin ETF Wave Awaits Time<div class=)
[Views](New "Troops" Added to ETFs, but Fund Inflows Struggle to Halt Coin Price Decline; Altcoin ETF Wave Awaits Time<div class=)
[](The SEC's Crypto Regulation Reaches a Turning Point; How Will RWA Assets Benefit?
Today, the United States is building a new regulatory paradigm for crypto assets that can both protect investors and promote innovation. When developers no longer need to worry about compliance issues, when investors can clearly distinguish between asset types, and when traditional financial institutions have a clear path to enter the market, a healthier and more vibrant crypto ecosystem is beckoning us.
