Hong Kong Web3 Daily Must-Read: Strategy invests in an additional 130 Bitcoins, with approximately $588 million liquidated across the entire network in 24 hours.
Fear and Greed Index: 22 (Extreme Fear)
Bitcoin Price: $91,922
BTC/ETH Spot ETF Fund Flow (12.2)
BTC Net Outflow: $83.50 M
ETH Net Inflow: 0
Hong Kong
BTC/ETH Spot ETF Fund Flow (12.2)
BTC Net Subscription: 0 BTC
ETH Net Subscription: 0 ETH
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](Selected Activities in Hong Kong for December
We have specially compiled noteworthy activities in the crypto space in Hong Kong for December, which will open a window to the future of Web3 for you.
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[Regulation/Macro](Selected Activities in Hong Kong for December
We have specially compiled noteworthy activities in the crypto space in Hong Kong for December, which will open a window to the future of Web3 for you.
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The Japanese government has supported changing the cryptocurrency profit tax rate from the current progressive rate of up to 55% to a unified fixed rate of 20%, aligning it with other financial products like stocks. This tax reform will be part of a proposal by the Financial Services Agency (FSA) and is planned to be submitted to the Diet in early 2026. The Japan Blockchain Association (JBA) has advocated for this for nearly three years, arguing that the current high tax rate hinders the development of the domestic crypto market. The new tax system will be implemented alongside a stricter investor protection framework, including a ban on trading using non-public information and enhanced disclosure requirements.
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The National Development and Reform Commission officially issued a document titled "Opinions on Strengthening the Construction of Data Element Disciplines and Digital Talent Teams," emphasizing the need to accelerate research in key areas, targeting major issues in the market-oriented allocation reform of data elements, and systematically conducting strategic research in the data field. It focuses on key issues such as data property rights, pricing, and trading, and conducts in-depth research on the basic theories and policy laws of data elements.
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[Project/Company Updates](
The National Development and Reform Commission officially issued a document titled "Opinions on Strengthening the Construction of Data Element Disciplines and Digital Talent Teams," emphasizing the need to accelerate research in key areas, targeting major issues in the market-oriented allocation reform of data elements, and systematically conducting strategic research in the data field. It focuses on key issues such as data property rights, pricing, and trading, and conducts in-depth research on the basic theories and policy laws of data elements.
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[](OpenEden Completes Strategic Round Financing, with Participation from Ripple and Others
The RWA tokenization platform OpenEden has completed a strategic round of financing, with the specific amount undisclosed. Investors include Ripple, Lightspeed Faction, Gate Ventures, FalconX, Anchorage Digital Ventures, Flowdesk, P2 Ventures, Selini Capital, Kaia Foundation, and Sigma Capital. The funds raised will be used to further expand its end-to-end RWA tokenization-as-a-service platform for issuing and managing regulated tokenized financial products.
The DeFi protocol Zoo Finance has completed $8 million in strategic financing, led by Bitrise Capital, with participation from Signum Capital, Certik Ventures, TOP, CGV Funds, and Cryptomeria. Previous investors include CMS Holdings, Big Brain Holdings, DefinanceX, Pragma Ventures, HG Ventures, YBB Capital, 0xVentures, and Aquarius Financials.
The cryptocurrency platform Voyager Digital and its subsidiary Voyager Digital LLC have issued a default notice to Three Arrows Capital (3AC) due to 3AC's failure to repay previously disclosed loans, including 15,250 Bitcoins and 350 million USDC. Voyager is consulting with legal advisors on recovery options.
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[](Voyager Digital Issues Default Notice to Three Arrows Capital, Involving Approximately 15,000 Bitcoins
The cryptocurrency platform Voyager Digital and its subsidiary Voyager Digital LLC have issued a default notice to Three Arrows Capital (3AC) due to 3AC's failure to repay previously disclosed loans, including 15,250 Bitcoins and 350 million USDC. Voyager is consulting with legal advisors on recovery options.
The Bitcoin mining company Iren plans to raise a total of $2 billion through the issuance of convertible bonds. This includes $1 billion bonds maturing in 2032 with a coupon rate of 0% to 0.25%, and $1 billion bonds maturing in 2033 with a coupon rate of 0.5% to 1%. These two batches of bonds have maturities of 6.5 years and 7.5 years, respectively.
<div class=)[In-Depth & Outlook
](Closure of the Mixer Cryptomixer After 9 Years
German and Swiss law enforcement have shut down the mixer Cryptomixer, which operated for nearly 9 years and laundered a total of $1.4 billion in Bitcoin since 2016. The operation seized 3 servers, 12TB of data, and over $27 million in crypto assets in Zurich, and the domain name was confiscated. Authorities stated that Cryptomixer was a significant money laundering hub for ransomware gangs, dark web markets, and scam organizations.
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[](Closure of the Mixer Cryptomixer After 9 Years
German and Swiss law enforcement have shut down the mixer Cryptomixer, which operated for nearly 9 years and laundered a total of $1.4 billion in Bitcoin since 2016. The operation seized 3 servers, 12TB of data, and over $27 million in crypto assets in Zurich, and the domain name was confiscated. Authorities stated that Cryptomixer was a significant money laundering hub for ransomware gangs, dark web markets, and scam organizations.
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[](Closure of the Mixer Cryptomixer After 9 Years
German and Swiss law enforcement have shut down the mixer Cryptomixer, which operated for nearly 9 years and laundered a total of $1.4 billion in Bitcoin since 2016. The operation seized 3 servers, 12TB of data, and over $27 million in crypto assets in Zurich, and the domain name was confiscated. Authorities stated that Cryptomixer was a significant money laundering hub for ransomware gangs, dark web markets, and scam organizations.
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[](Closure of the Mixer Cryptomixer After 9 Years
German and Swiss law enforcement have shut down the mixer Cryptomixer, which operated for nearly 9 years and laundered a total of $1.4 billion in Bitcoin since 2016. The operation seized 3 servers, 12TB of data, and over $27 million in crypto assets in Zurich, and the domain name was confiscated. Authorities stated that Cryptomixer was a significant money laundering hub for ransomware gangs, dark web markets, and scam organizations.
When Ethereum was launched in July 2015, its founders articulated a vision rooted in the 1990s cypherpunk movement. Just like the 2,000 mathematicians, cryptographers, and software engineers who resisted government attempts to ban encryption, Ethereum's early community pursued decentralization and censorship resistance as ultimate values. The project was to operate as a "world computer," where smart contracts executed with mathematical certainty, free from interference by corporations or governments.
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[](Devconnect 2025 Analyzes Ethereum's "New Approach"
When Ethereum was launched in July 2015, its founders articulated a vision rooted in the 1990s cypherpunk movement. Just like the 2,000 mathematicians, cryptographers, and software engineers who resisted government attempts to ban encryption, Ethereum's early community pursued decentralization and censorship resistance as ultimate values. The project was to operate as a "world computer," where smart contracts executed with mathematical certainty, free from interference by corporations or governments.
From China's perspective, what truly deserves attention is not "how many people are using it to speculate and make money," but rather: as the digital dollar has already penetrated the capillaries of overseas markets relying on the internet, how is the renminbi preparing to occupy the market and mindset within the same organic ecosystem.
Since the beginning of 2025, the transaction fees on the Ethereum mainnet have remained at extremely low levels, even cheaper than some L2s during certain periods. With client optimizations and decreasing hard drive costs leading to a continuous increase in gas limits, more voices are beginning to propose a viewpoint that was once considered "outdated"—perhaps Ethereum L1 has not aged, and perhaps "returning to the mainnet" is regaining practical significance.