Hong Kong Web3 Daily Must-Read: Metaplanet plans to issue $150 million Class B perpetual preferred shares, and the Hong Kong Securities and Futures Commission has included AmazingTech in the list of suspicious platforms.
Fear and Greed Index: 12 (Extreme Fear)
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The Financial Secretary of the Hong Kong SAR Government, Paul Chan, stated in a blog that due to geopolitical factors, global investors are reassessing the risks in their portfolios and adjusting their investment strategies to diversify risks, making Hong Kong a safe haven for capital. The total bank deposits in Hong Kong have increased by over 10% this year, following a 7% rise last year, exceeding HKD 19 trillion; new stock fundraising activities are leading globally, the wealth management industry is thriving, and financial cooperation with various parts of the world continues to deepen, reflecting international capital's preference for the Hong Kong market.
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According to the Hong Kong Securities and Futures Commission (SFC), the public should be wary of a virtual asset trading platform named "AmazingTech," which claims to operate locally in Hong Kong and is suspected of conducting unlicensed activities. The SFC has included this platform in its list of suspicious virtual asset trading platforms.
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The Secretary for Financial Services and the Treasury, Christopher Hui, stated at a discussion that the authorities are working with the Monetary Authority to advance the study on the applicability of current laws to tokenized bonds, aiming to promote the adoption of tokenization technology in Hong Kong's bond market, with relevant details expected to be announced in the first half of next year. He also mentioned that the government will continue to play a "leading" role in the application of tokenized products, having issued the third batch of tokenized green bonds last week, with a total issuance amount of HKD 10 billion, setting the current record for the largest tokenized bond issuance globally.
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Lu Zhihong, a member of the Hong Kong Stablecoin Review Tribunal and Web3 Development Group, stated in an interview that the "review" is essentially a safeguard procedure for applicants and is part of the regulatory framework's construction and improvement. Currently, there are fewer than 40 institutions applying for stablecoin licenses, and these applicants may not be approved during the review process due to failure to meet regulatory requirements. At this point, they can apply for a review, where the tribunal will provide consultation, verification, and other assistance to reassess the case.
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]( HKD 99.72 million, about 20% planned for virtual asset service business
The Hong Kong-listed company International Commercial Digital Technology (01782.HK) announced plans to place up to 28 million placement shares through a placement agent, with each share priced at HKD 3.60. The expected maximum net proceeds from the placement are HKD 99.72 million, of which approximately 20.06% will be used to support the company's timely and orderly deployment of virtual asset service business in overseas markets after obtaining the necessary final regulatory approvals and when expansion opportunities arise, expected to be fully utilized by December 31, 2027.
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[]( HKD 99.72 million, about 20% planned for virtual asset service business
The Hong Kong-listed company International Commercial Digital Technology (01782.HK) announced plans to place up to 28 million placement shares through a placement agent, with each share priced at HKD 3.60. The expected maximum net proceeds from the placement are HKD 99.72 million, of which approximately 20.06% will be used to support the company's timely and orderly deployment of virtual asset service business in overseas markets after obtaining the necessary final regulatory approvals and when expansion opportunities arise, expected to be fully utilized by December 31, 2027.
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]( Selected Activities in Hong Kong for November
We have specially compiled noteworthy activities 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 Activities in Hong Kong for November
We have specially compiled noteworthy activities 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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[]( $32.6 million in cryptocurrency and cash
The UK's National Crime Agency (NCA) disclosed that the UK-led operation "Operation Destabilise" against Russian sanctions evasion has resulted in 128 arrests and the seizure of approximately $32.6 million in cryptocurrency and cash. Previously, as of December 2024, the operation reported 84 arrests and the seizure of about $25.5 million. The latest developments show that another 45 individuals suspected of money laundering have been arrested, with over $6.6 million in cash seized.
Insiders say that US investigators are assessing whether Bitmain's products pose "espionage or sabotage" risks. A federal review last year indicated that using the company's equipment near military bases raised "significant national security concerns." A Senate Intelligence Committee report in July also mentioned that its equipment could be manipulated and had multiple vulnerabilities. Several sources indicated that Bitmain hardware is at the core of the federal investigation "Operation Red Sunset," led by Homeland Security agents, focusing on whether the equipment can be remotely controlled and used for intelligence activities or to sabotage the power grid.
The People's Court of Guiyang County, Hunan Province, recently concluded a contract dispute case involving virtual currency "mining." The plaintiff, Hu, collaborated with others to conduct virtual currency "mining" activities, investing over 550,000 yuan to purchase equipment, and later sued for the return of 570,000 yuan due to the loss of the equipment.
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The People's Court of Guiyang County, Hunan Province, recently concluded a contract dispute case involving virtual currency "mining." The plaintiff, Hu, collaborated with others to conduct virtual currency "mining" activities, investing over 550,000 yuan to purchase equipment, and later sued for the return of 570,000 yuan due to the loss of the equipment.
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The People's Court of Guiyang County, Hunan Province, recently concluded a contract dispute case involving virtual currency "mining." The plaintiff, Hu, collaborated with others to conduct virtual currency "mining" activities, investing over 550,000 yuan to purchase equipment, and later sued for the return of 570,000 yuan due to the loss of the equipment.
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The People's Court of Guiyang County, Hunan Province, recently concluded a contract dispute case involving virtual currency "mining." The plaintiff, Hu, collaborated with others to conduct virtual currency "mining" activities, investing over 550,000 yuan to purchase equipment, and later sued for the return of 570,000 yuan due to the loss of the equipment.
Port3 Network released a hacker incident analysis report. The report states that PORT3 adopted NEXA's CATERC20 cross-chain token solution, but CATERC20 has a boundary condition validation vulnerability. After the token ownership is relinquished, the value returned by the function is 0, which coincidentally matches the ownership verification condition. Therefore, ownership verification fails, allowing unauthorized access. This issue was not pointed out in the CATERC20 audit report.
According to BitcoinTreasuries.NET, Deutsche Bank (with assets of $1.6 trillion) holds approximately $115 million in Strategy stocks.
Cryptocurrency ATM operator Crypto Dispensers is evaluating a potential sale plan worth $100 million. Just days ago, the company's founder and CEO Firas Isa was charged by federal prosecutors for involvement in a suspected $10 million money laundering scheme. The company stated that it has hired consultants to assist in a "strategic assessment" and potential sale matters. The shift in its business towards software operations in recent years is attributed to "increased fraud risk, regulatory pressure, compliance requirements, and low reuse rates," but the related charges were not mentioned.
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]( Plans to issue $150 million in Class B perpetual preferred shares to expand Bitcoin treasury strategy
Japanese listed company Metaplanet announced plans to issue $150 million in Class B perpetual preferred shares MERCURY, offering a fixed dividend of 4.9%, with a conversion price of 1,000 yen. The funds raised will be used to expand the Bitcoin treasury strategy.
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[In-Depth & Outlook]( Plans to issue $150 million in Class B perpetual preferred shares to expand Bitcoin treasury strategy
Japanese listed company Metaplanet announced plans to issue $150 million in Class B perpetual preferred shares MERCURY, offering a fixed dividend of 4.9%, with a conversion price of 1,000 yen. The funds raised will be used to expand the Bitcoin treasury strategy.
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[As for whether Kalshi can firmly hold the "throne," or whether the "duel" between Polymarket and Kalshi can be maintained, it will depend on whether they can truly address the core issue of liquidity bottlenecks.
]( $1 billion, with a monthly trading volume of $4.4 billion, Kalshi has become the "new king" of prediction markets<p class=)
[]( $1 billion, with a monthly trading volume of $4.4 billion, Kalshi has become the "new king" of prediction markets<p class=)[Uncertain revenue without a clear source is not profit, but a plunder with a countdown. This is not an opinion, but an empirical fact verified at great cost. The only question is whether we can truly act based on existing experience, or whether we will again pay a price of $20 billion for the same lesson. History shows that the latter is more likely.
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[Opinion](<p class=)
[This article will start from the real challenges of layered money laundering, deeply analyze how RWA tokenization can reshape risk control logic from a technical bottom-up perspective, and rationally discuss the gap that must be crossed for its transition from concept to large-scale application.
]( How can tokenization become the next answer for financial transparency?<p class=)
