Hong Kong Web3 Daily Must-Read: Applied Digital Completes $2.15 Billion Bond Financing, Polkadot to Launch Economic Model Reform

CN
4 hours ago

Organizer: Cora, Techub News

TinTinLand

Fear Greed Index: 29 (Fear)
Bitcoin Price: $72,982
BTC/ETH Spot ETF Fund Flow (3.4)
BTC Net Inflow: $98.09 M
ETH Net Inflow: $90.27 M

Hong Kong

BTC/ETH Spot ETF Fund Flow (3.4)

BTC Net Subscription/Redemption: 0 BTC

ETH Net Subscription/Redemption: 0 ETH

According to a report by Zhitong Finance, this optimization encompasses six specific measures, with the most noteworthy being the expansion of the eligible investment types for funds and family control tools — including real estate located outside Hong Kong, carbon emission derivatives, insurance-linked securities, private debt investments, digital assets, precious metals, and certain bulk commodities within the tax-exempt investment scope.

We have specifically sorted out the events in Hong Kong's crypto field worth paying attention to in March, which will open a window for you into the future of Web3.

Regulation/Macro

The South Korea Financial Services Commission (FSC) held its first 'Virtual Asset Committee' meeting of 2026 today. Representatives from relevant ministries, organizations, and the private sector discussed the mid-term review and institutional improvement direction related to the virtual asset overspending incident on February 6, as well as the main contents of the government's review plan tentatively named 'Digital Asset Basic Law' (Stage Two of the 'Virtual Asset Law'). The FSC stated that it will continue to promote DAXA's internal control standards and self-regulatory improvements and engage in consultations with the ruling and opposition parties regarding legislative matters.

White House Digital Asset Advisor Patrick Witt refuted JPMorgan CEO Jamie Dimon's remarks about stablecoin yields. Dimon stated that platforms paying stablecoin yields should be subject to bank-style regulation, as "holding balances and paying interest" constitutes banking activity. Witt responded on platform X stating that Dimon's assertion is misleading; what truly requires bank-like regulation is the lending or rehypothecation of underlying dollar balances, and the GENIUS Act clearly prohibits stablecoin issuers from engaging in the latter, hence stablecoin balances should not be equated with bank deposits.

Singapore police arrested three Singaporeans suspected of being related to a money laundering case involving Prince Group from November 2025 to January 2026 and issued an arrest warrant for another Singaporean female, Chen Xiuling. Since October 2025, police have confiscated or prohibited the disposal of assets worth over S$150 million, subsequently adding three properties, eight cars, cash (including various foreign currencies), bank and securities accounts, designer bags and watches, totaling approximately S$350 million in value. To date, the total value of assets seized and prohibited from disposal related to this case has exceeded S$500 million (approximately US$390 million).

U.S. President Trump expressed strong criticism in a post on the Truth Social platform, stating that banking institutions are trying to undermine the passage of the GENIUS Act and obstruct the Clarity Act. He noted that these bills are crucial for ensuring that the U.S. becomes the "crypto capital" and warned that if action is not taken quickly, the industry may shift to countries like China. Trump urged banks to reach an agreement with the crypto industry, emphasizing it is in the best interest of the American people, and called for accelerated market structural reforms to allow "Americans to gain more benefits from their funds."

The Governor of Indiana has officially signed Bill HB 1042 (Bitcoin Rights Bill) into law. This bill aims to protect Bitcoin rights, prohibit discriminatory tax policies against cryptocurrencies, and clearly allow the use of cryptocurrencies in state retirement plans.

Projects/Company Updates

The Polkadot network will implement economic framework adjustments starting March 12, 2026, setting the DOT total supply cap at 2.1 billion, and introducing a Dynamic Allocation Pool (DAP) to replace the previous treasury destruction mechanism. Transaction fees, Coretime sales income, and confiscated funds will be deposited into a permanent account for dynamic budget allocation. The remaining supply will be issued at 13.14% every two years, with the first phase of issuance reduced by 53.6% compared to the current model. The staking mechanism will also be upgraded: from mid to late March, validators must hold at least 10,000 DOT to stake without penalties and set a minimum commission rate of 10%. Starting in April, nominators will become non-penalizable, with the un-staking period reduced from 28 days to 24-48 hours.

Ripple has expanded its payment platform into a complete fiat and stablecoin infrastructure, enabling businesses to collect, hold, exchange, and make payments in 60 markets. This upgrade integrates recently acquired Palisade and Rail technologies, adding features such as custodial management, treasury automation, virtual accounts, and fiat/stablecoin settlement functionality, all of which are done through a single interface. Ripple stated that the platform has cumulatively processed transaction volumes exceeding $100 billion, with the annual global transaction volume last year reaching $33 trillion, of which stablecoins accounted for about 30% of on-chain activity.

IoTeX has launched the ioTube security incident claims portal, allowing users affected by the attack on February 21 to now submit compensation requests. The compensation rules state: users with a total affected asset value not exceeding $10,000 will receive full compensation in stablecoins (covering over 90% of affected users); users exceeding $10,000 will receive full compensation in phases along with additional rewards. IoTeX clarified that the compensation funds come entirely from the foundation's treasury, not from the sale of IOTX tokens; currently, fund tracing and enforcement measures are still ongoing, and all recovered stolen assets will be used directly for compensation.

Bitcoin mining hosting and cloud service company Applied Digital has completed $2.15 billion in bond financing. The funds will be used to construct the AI data center campus Polaris Forge 2 located in Harwood, North Dakota, which has been leased to Oracle. The company previously stated that the project is expected to generate approximately $5 billion in revenue over an estimated 15-year contract period.

SB Seker, head of Binance Asia-Pacific, stated in an interview in Tokyo that the company plans to acquire 5 new regulatory licenses in Asia this year, bringing the total number of licensed jurisdictions globally to over 20. Binance is currently authorized in Australia, India, Indonesia, Japan, New Zealand, and Thailand in the Asia-Pacific region; with the acquisition of Gopax, Korea will soon be added to the licensed list. Seker did not disclose specific target markets for the new licenses, only stating that some markets "are nearing completion of the final phase." Seker joined Binance last year after holding senior positions at Crypto.com, the Monetary Authority of Singapore, Ant Group, and Rothschild.

ARQ, a Latin American financial application focused on stablecoins, has completed $70 million in financing, led by Sequoia Capital and Founders Fund. The funds will be used for rebranding, team expansion, and service diversification, transitioning from dollar-denominated transfers to wealth management, high-yield local currency accounts, and credit services. Originally named DolarApp, ARQ provides multi-currency accounts, digital wallets, foreign exchange, and debit card services to help users store and transfer funds across borders. It currently boasts over 2 million customers in Latin America, with annual transaction volumes surpassing $10 billion. The company stated it has built infrastructure connecting traditional banking networks with stablecoin payment systems to support users holding foreign currencies and conducting transactions.

YZi Labs will invest $100 million in HashGlobal's institutional version of the BNB income fund, the "BNB Holdings Fund." This deepens strategic cooperation with the BNB ecosystem and supports the development of institutional-grade BNB income products.

Depth & Outlook

After the U.S. launched attacks, the asset outflow from Iran's largest cryptocurrency exchange, Nobitex, surged, skyrocketing by about 700% within minutes. A report by Chainalysis also confirmed that the hourly trading volume of crypto assets within Iran rapidly increased in the hours following the attack.

In South Korea, two stocks carried half of the market's gains, relying on imported natural gas and coal for power; the entire market is betting on one industry. If anything happens outside this industry, it causes consecutive circuit breaks. The fragility written into South Korea's geography and industrial structure cannot be easily changed just by amending commercial laws.

Views

Another notable detail is that institutional investor Blockchain Capital later stated that due to the custodial platform not supporting snapshot voting, their holdings of AAVE were unable to participate. This reveals another reality of DAO governance: nominally co-decided by token holders, in reality, voting power is often concentrated in the hands of a few.

When stablecoins transition from "crypto narrative" to "settlement tools," it will alter Stripe's prioritization: Stripe is more likely to prioritize filling the gap of "clearing and compliance credibility" rather than urgently seeking to acquire a complete consumer brand machine.

免责声明:本文章仅代表作者个人观点,不代表本平台的立场和观点。本文章仅供信息分享,不构成对任何人的任何投资建议。用户与作者之间的任何争议,与本平台无关。如网页中刊载的文章或图片涉及侵权,请提供相关的权利证明和身份证明发送邮件到support@aicoin.com,本平台相关工作人员将会进行核查。

Share To
APP

X

Telegram

Facebook

Reddit

CopyLink