Organizer: Cora, Techub News
TinTinLand
Fear and Greed Index: 23 (Fear)
Bitcoin Price: $69,023
BTC/ETH Spot ETF Fund Flows (3.9)
BTC Net Inflow: $57.72 M
ETH Net Inflow: $3.82 M
Hong Kong
BTC/ETH Spot ETF Fund Flows (3.9)
BTC Net Subscription: 23.41 BTC
ETH Net Subscription/Redemption: 0 ETH
The Chief Executive's Policy Unit of the Hong Kong SAR Government and the Environmental and Economic Policy Research Center of the National Ministry of Ecology and Environment held a symposium in Beijing on international carbon market research, focusing on discussing the significance and guiding principles for China’s participation in the construction of international carbon markets, as well as the important role and function of Hong Kong in assisting the national "dual carbon" goals. Chief Executive's policy unit head Wong Yuen-shan suggested that Hong Kong promote the integration and cooperation of rules with domestic and overseas carbon markets regarding the national verified voluntary emission reductions and international voluntary carbon credits, facilitating the accumulation and allocation of high-quality carbon resources within and outside Hong Kong. Several Hong Kong legislators expressed in interviews with Hong Kong Wenwei Po that the potential for related industries is enormous, suggesting that Hong Kong should actively explore the development of carbon emission rights tokenization and encourage local construction companies to participate in carbon emission rights trading.
The Hang Seng Index Company announced in February the results of the quarterly review of the Hang Seng Index series as of December 31, 2025, where HASHKEY HLDGS (03887) was included in the Hang Seng Composite Index. The changes will take effect after the market closes on March 6, 2026, and will be effective from March 9, 2026 (Monday), at which time the Shanghai and Shenzhen exchanges will correspondingly adjust the range of investable targets for Stock Connect.
Additionally, the interview delved into the legal and regulatory logic of RWA (Real World Asset Tokenization), the application prospects of stablecoins in cross-border payments and AI settlements, and proposed a "four-stage implementation roadmap" for enterprises at different stages. Through the "Hong Kong Inc." linkage mechanism, Hong Kong is continuously improving the regulatory system and industrial support, committed to building the most friendly regulatory environment and industrial ecosystem globally.
We suggest that local governments and city investment platforms might as well take action early: select a quality asset with stable cash flow and moderate size to pilot the process. Once the compliance path is opened, low-cost foreign funds can replace high-interest old debts, which can not only alleviate the current liquidity crisis but also set a benchmark for "digital financial innovation" in this debt reduction battle.
We have specifically compiled noteworthy activities in the cryptocurrency field in Hong Kong for March, which will open a window to the future of Web3 for you.
Regulation/Macro
Former Chairman of the U.S. Commodity Futures Trading Commission (CFTC) Christopher Giancarlo pointed out that if the Digital Asset Market Clarity Act aimed at regulating digital assets can be passed, the banking sector will benefit more than the cryptocurrency industry.
Security agency Ctrl-Alt-Intel stated that threat actors are systematically infiltrating cryptocurrency organizations. They exploit vulnerabilities in web applications to steal data from AWS tenants that possess valid credentials, and to steal proprietary trading software that contains hard-coded keys. Their attack targets span across the entire cryptocurrency supply chain, from staking platforms to exchange software providers to exchanges themselves. The report noted that this activity is consistent with North Korean-linked attack characteristics, but attribution confidence is moderate, and the source of the AWS credentials remains unclear.
The Second Plenary Session of the Fourth Meeting of the 14th National People's Congress was held in the Great Hall of the People in Beijing on the morning of the 9th, where Supreme People's Court President Zhang Jun delivered the Supreme People's Court work report. The report showed that in the past five years, there were 9,326 cases related to network security crimes adjudicated, involving 22,000 persons, which was an increase of 158.5% (in terms of number of cases) compared to the previous five years. The report also emphasized the legal punishment of cyber rumors, online pyramid schemes, online violence, etc., promoting comprehensive governance of network space security. Two young individuals maliciously engaging in doxing were convicted and sentenced for illegally obtaining and disseminating others' private information. The report stresses severe punishment for crimes involving money laundering, currency exchange, and other offenses using virtual currencies, while cooperating to prevent illegal cross-border fund transfers. It also clarifies that drivers who activate assisted driving functions while intoxicated will still bear criminal responsibility, highlighting that technology applications must adhere to the rule of law.
U.S. Congressman Michael Cloud, along with 28 other Congressional members, sent a letter to congressional leadership requesting a permanent ban on the issuance of central bank digital currencies (CBDC) in the United States.
The U.S. Treasury stated in a report submitted to Congress, titled "Innovative Technologies to Combat Illegal Financial Activities Involving Digital Assets," that cryptocurrency mixers can be used for legitimate privacy protection, but authorities continue to warn about the role they may play in illegal financial activities.
Project/Company Dynamics
Leader of the UK Reform Party Nigel Farage invested £215,000 to acquire a 6.3% stake in Stack BTC. The company is a Bitcoin asset management firm listed on the Aquis Exchange, dedicated to building a high-quality cash flow portfolio while establishing Bitcoin reserves. Kwasi Kwarteng, former UK Chancellor who joined the company's board in November last year, has now assumed the position of Executive Chairman and holds a 5.4% stake valued at £185,000 together with his wife Harriet.
Coinbase announced that it has opened futures and perpetual contract trading to eligible Coinbase Advanced users in 26 European countries. The launched regulated products include cryptocurrency futures, index futures such as Mag7 + Crypto Equity Index, and perpetual contracts with a maturity of 5 years. The future trading is provided by Coinbase's MiFID entity, covering a variety of contracts from Bitcoin to Solana and stock indices. Specific contracts, such as Bitcoin, Ethereum, and stock indexes, offer leverage of up to 10 times, while other products have leverage ratios of 4 to 5 times.
Prediction market platform Kalshi expands into foreign markets for the first time, partnering with Brazilian company XP to launch event contracts. Kalshi co-founder Luana Lopes Lara stated that Kalshi will begin offering binary contracts related to the Brazilian economy, covering events such as inflation rates and interest rate changes. According to executives, these contracts will be available to Kalshi's U.S. investors and specific users on the Brazilian XP platform.
Orbital data center startup Starcloud, supported by Nvidia, announced it will begin Bitcoin mining in space later this year when its second spacecraft is launched, aiming to become the first company to mine beyond Earth.
Trump family's cryptocurrency project World Liberty Financial (WLFI) proposal on the "Governance Staking System" opened voting on March 6 and will last until March 13. The core objectives of the proposal include encouraging active participation in WLFI governance; establishing staking as a prerequisite for unlocking tokens for governance voting; rewarding participation in WLFI governance; creating a hierarchical node structure to incentivize long-term ecosystem participants with USD1, particularly those who contribute the most to governance; and establishing mechanisms to facilitate cooperation with projects actively supporting WLFI governance and the WLFI ecosystem.
Depth & Outlook
We believe that the Fusaka upgrade in December 2025 has severely damaged Ethereum's token economics model. Vitalik himself is aware of this and is continuously selling; while ETH's most steadfast bull, Tom Lee, is throwing good money after a bad bet.
On one side, the family project USD1 encountered a coordinated attack in late February, briefly decoupling, with the WLFI team subsequently transferring a large amount of tokens to centralized exchanges for two consecutive days, causing on-chain signals to stir up market speculation; on the other side, the President himself was charging forward in Washington for stablecoin legislation, directly fighting against the bank lobbying groups.
Of course, I suspect that part of the people here are hyping it up, mainly because they hadn't used Claude Opus 4.6 before. Now they are using Claude through some intermediaries like OpenRouter, suddenly switching to a new model, and of course they feel smarter.
The article begins with recent international conflicts and energy patterns, sorting out the energy and military supply chains between Venezuela, Iran, and Russia, analyzing how oil prices, drone warfare, and global sanction systems intertwine in real-world conflicts. As the narrative progresses, the author shifts focus from traditional energy to technological competition, discussing the strategic significance of advanced chips, semiconductor manufacturing, and AI computing power in the current geopolitical landscape.
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