Fear and Greed Index: 15 (Extreme Fear)
Bitcoin Price: $87,424
BTC/ETH Spot ETF Fund Flow (11.25)
BTC Net Outflow: $125.17 M
ETH Net Outflow: $15.05 M
Hong Kong
BTC/ETH Spot ETF Fund Flow (11.25)
BTC Net Subscription: 18.81 BTC
ETH Net Subscription: 0 ETH
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The Chief Executive Officer of the Hong Kong Securities and Futures Commission (SFC), Ashley Alder, stated that Hong Kong is committed to building a safe and reliable digital asset platform. The final plan for the regulatory framework regarding digital asset trading and custody services is currently being finalized, which he said will be the last two pieces of the regulatory "puzzle" for establishing a robust digital asset ecosystem. At the same time, the adoption of tokenized financial products in Hong Kong continues to increase, including green bonds, money market funds recognized by the Hong Kong SFC, and retail gold products, with the market size of related tokenized products in Hong Kong being approximately $3 billion.
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The Chief Executive Officer of the Hong Kong Securities and Futures Commission (SFC), Ashley Alder, stated that Hong Kong is committed to building a safe and reliable digital asset platform. The final plan for the regulatory framework regarding digital asset trading and custody services is currently being finalized, which he said will be the last two pieces of the regulatory "puzzle" for establishing a robust digital asset ecosystem. At the same time, the adoption of tokenized financial products in Hong Kong continues to increase, including green bonds, money market funds recognized by the Hong Kong SFC, and retail gold products, with the market size of related tokenized products in Hong Kong being approximately $3 billion.
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]( 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.
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[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.
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[]( A 21-year-old man arrested for robbing a crypto exchange office with a replica grenade
On November 22, police in St. Petersburg, Russia, arrested a 21-year-old man at a crypto exchange office in the city center. After entering the office, he detonated two replica (airsoft) grenades and ignited smoke bombs, demanding that employees transfer all the exchange's crypto assets to his wallet. The police stated that he was controlled on the scene and has been detained on charges of robbery. The exchange involved has not been officially named, but DL News speculates it to be Yzex based on address and map information.
South Korea's electronic securities law and capital markets law amendments aimed at institutionalizing token securities issuance have passed the legislative review committee of the National Assembly's Administrative Committee, laying the groundwork for the opening of the STO market in the first half of next year. The amendments propose to formally incorporate blockchain distributed ledger technology into the electronic registration system, allowing issuers to register and manage token securities based on distributed ledgers as electronic securities; at the same time, it will bring small-scale over-the-counter trading platforms for investment contract securities and non-monetary trust income securities under regulation, providing a basis for the legitimate operation of fragmented investment exchanges. If the bill is finally passed in the National Assembly next month, the tokenization and circulation of various physical assets such as real estate, artworks, and music copyrights will be able to proceed within a regulatory framework.
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[]( The STO bill passes the initial review in Congress, with a potential token securities market opening in the first half of next year
South Korea's electronic securities law and capital markets law amendments aimed at institutionalizing token securities issuance have passed the legislative review committee of the National Assembly's Administrative Committee, laying the groundwork for the opening of the STO market in the first half of next year. The amendments propose to formally incorporate blockchain distributed ledger technology into the electronic registration system, allowing issuers to register and manage token securities based on distributed ledgers as electronic securities; at the same time, it will bring small-scale over-the-counter trading platforms for investment contract securities and non-monetary trust income securities under regulation, providing a basis for the legitimate operation of fragmented investment exchanges. If the bill is finally passed in the National Assembly next month, the tokenization and circulation of various physical assets such as real estate, artworks, and music copyrights will be able to proceed within a regulatory framework.
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]( The STO bill passes the initial review in Congress, with a potential token securities market opening in the first half of next year
South Korea's electronic securities law and capital markets law amendments aimed at institutionalizing token securities issuance have passed the legislative review committee of the National Assembly's Administrative Committee, laying the groundwork for the opening of the STO market in the first half of next year. The amendments propose to formally incorporate blockchain distributed ledger technology into the electronic registration system, allowing issuers to register and manage token securities based on distributed ledgers as electronic securities; at the same time, it will bring small-scale over-the-counter trading platforms for investment contract securities and non-monetary trust income securities under regulation, providing a basis for the legitimate operation of fragmented investment exchanges. If the bill is finally passed in the National Assembly next month, the tokenization and circulation of various physical assets such as real estate, artworks, and music copyrights will be able to proceed within a regulatory framework.
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[]( The STO bill passes the initial review in Congress, with a potential token securities market opening in the first half of next year
South Korea's electronic securities law and capital markets law amendments aimed at institutionalizing token securities issuance have passed the legislative review committee of the National Assembly's Administrative Committee, laying the groundwork for the opening of the STO market in the first half of next year. The amendments propose to formally incorporate blockchain distributed ledger technology into the electronic registration system, allowing issuers to register and manage token securities based on distributed ledgers as electronic securities; at the same time, it will bring small-scale over-the-counter trading platforms for investment contract securities and non-monetary trust income securities under regulation, providing a basis for the legitimate operation of fragmented investment exchanges. If the bill is finally passed in the National Assembly next month, the tokenization and circulation of various physical assets such as real estate, artworks, and music copyrights will be able to proceed within a regulatory framework.
According to documents from the U.S. Securities and Exchange Commission (SEC), VanEck Digital Assets plans to launch a spot VanEck BNB ETF, which intends to directly hold BNB tokens to track the price performance of BNB after deducting trust operating expenses. The trust is expected to be listed on Nasdaq with the trading code VBNB and will conduct daily evaluations of its asset value based on the MarketVector BNB Index. Currently, no staking activities have been initiated; VanEck stated that if staking occurs in the future, it will be completed through a third-party staking service provider and will notify investors in advance.
Bitwise tweeted that its DOGE ETF launch is imminent, with the trading code BWOW.
Galaxy Digital is in contact with the prediction market platforms Polymarket and Kalshi to explore becoming their liquidity provider. Galaxy Digital stated that it has currently conducted "small-scale trials" for market making in prediction markets and plans to provide "broader liquidity" on the relevant platforms in the future, with specific cooperation scope and implementation timing to be disclosed later by the parties.
Sapijiju, co-founder of pump.fun, tweeted in response to Lookonchain's monitoring claim that "pump.fun has cashed out at least 436,500,000 USDC through Kraken since October 15," stating, "This is completely false information; pump.fun has never cashed out." Sapijiju also mentioned that the related USDC was from the ICO proceeds of the PUMP token, and the recent transfers to different wallets are part of the company's treasury fund management and reinvestment operations, emphasizing that pump.fun has never directly collaborated with Circle.
U.S. listed crypto wallet company Exodus Movement (NYSE American: ExOD) has reached an agreement to acquire W3C Corp for $175 million, which is the parent company of crypto card and payment companies Baanx and Monavate. The acquisition funds come from Exodus's cash reserves and financing provided by Galaxy Digital, secured by the Bitcoin held by Exodus; the company has provided W3C with approximately $58.8 million in bridge loans and may add up to $10 million for operational support.
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]( Ondo Finance invests $25 million in Figure, plans to incorporate YLDS into OUSG yield support
Ondo Finance has invested $25 million in Figure's yield-bearing stablecoin YLDS to enhance the yield sources of its flagship tokenized short-term U.S. Treasury fund OUSG and improve diversification. Public information shows that OUSG currently has an on-chain locked value (TVL) of over $780 million, with underlying funds allocated to related products from institutions such as BlackRock, Fidelity, Franklin Templeton, WisdomTree, and FundBridge Capital.
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[In-Depth & Outlook]( Finance invests $25 million in Figure, plans to incorporate YLDS into OUSG yield support
Ondo Finance has invested $25 million in Figure's yield-bearing stablecoin YLDS to enhance the yield sources of its flagship tokenized short-term U.S. Treasury fund OUSG and improve diversification. Public information shows that OUSG currently has an on-chain locked value (TVL) of over $780 million, with underlying funds allocated to related products from institutions such as BlackRock, Fidelity, Franklin Templeton, WisdomTree, and FundBridge Capital.
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[]( RWA Global Liquidity's "Golden Channel"
From the perspective of future development, this payment infrastructure paves the way for the establishment of new financial businesses in the digital age. Especially with the acceleration of the tokenization trend of real-world assets (RWA), an efficient and low-cost cross-border payment network has shifted from being "optional" to a "necessity."
It is expected that we will soon see this shift: the market trend will move from being dominated by the U.S. narrative in the past to a new path where Asian products lead the way, followed by expansion into the European and American markets. Asian teams and markets will hold more influence during the application cycle.
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[]( Is $90,000 a "dead cat bounce" phenomenon or a signal of trend reversal?
At the same time, the $80,000 mark for Bitcoin has become a key indicator. If the price can stabilize in this range, combined with the existing positive signals in the market, it may lay the foundation for a trend reversal; otherwise, the market may enter a prolonged bear market cycle.
<div class=)[The key to this financing lies in the brand effect of one of the world's most renowned investment institutions, which has brought credibility to Berachain. A former employee, who wished to remain anonymous, recalled that Berachain's anonymous co-founder Papa Bear had pointed out that Brevan's investment could help the project gain recognition.
]( Caught in the "zero-risk investment" storm, top VC's special refund rights raise questions<p class=)
