Hong Kong Web3 Daily Must-Read: ether.fi completes migration to OP mainnet, CoreWeave reaches $6 billion agreement with Jane Street.

Organized by: Cora, Techub News

Hong Kong

Overview of Hong Kong Web3 Carnival Surrounding Events Schedule 2026

From April 20 to 23, the Hong Kong Web3 Carnival, jointly created by Wanxiang Blockchain Lab and HashKey Group, will gather senior government officials, financial giants, technology leaders, and over 500 key decision-makers from around the world at the Hong Kong Convention and Exhibition Centre to create a high-dimensional dialogue environment that breaks down barriers and integrates diversity.

Regulation/Macro

South Korea's Ministry of Finance to Pilot Blockchain "Deposit Tokens" for Public Payments

The South Korean Ministry of Strategy and Finance recently announced that its pilot project for blockchain-based digital currency treasury funds has been successfully selected as a key topic for the 2026 "Targeted Regulatory Sandbox." Under this plan, the South Korean government will break away from traditional methods, shifting the business promotion costs of government departments (similar to official receptions and office expenses) from the current government procurement card (physical card) payments to disbursement and settlement via blockchain-based deposit tokens.

Florida and Massachusetts Authorities Recover $5.4 Million in Cryptocurrency Fraud Funds

According to Cryptopolitan and the Florida Attorney General's office announcement, authorities from Florida and Massachusetts recently succeeded in recovering $5.4 million related to a cryptocurrency fraud scheme. This operation was conducted in collaboration with the Florida Cyber Fraud Enforcement Unit (CFEU) and the Marion County Sheriff's Office and is viewed as the largest amount recovered in a single operation in the state.

UK FCA Seeks Opinions on Cryptocurrency Regulatory Guidelines, New System Set to Take Effect in October 2027

The UK's Financial Conduct Authority (FCA) has initiated a consultation process regarding the future regulatory guidelines for cryptocurrency, with the new regulations expected to officially come into effect on October 25, 2027. This consultation aims to assist businesses in clarifying compliance requirements under the new system in specific areas such as stablecoin issuance, crypto trading, custody, and staking; the feedback window will close on June 3, 2026.

Project/Company Updates

JPMorgan: Major Breakthrough in CLARITY Bill Negotiations

JPMorgan's latest research report indicates that U.S. lawmakers and regulators have made significant progress on the long-debated "CLARITY Bill," with both sides nearing a final agreement. A senior policy official noted that the list of approximately 12 contentious items has been dramatically reduced to only "2 to 3 issues," and discussions surrounding stablecoin rewards are progressing "smoothly."

Financial Compliance Service Provider Spektr Completes $20 Million Series A Financing, Led by NEA

Financial compliance service provider Spektr announced the completion of a $20 million Series A financing round, led by New Enterprise Associates (NEA), with participation from Northzone, Seedcamp, and PSV Tech. To date, the company's total funding has reached $26 million.

CoW Swap Domain Targeted by Social Engineering Attack, Now Regained Control

CoW Swap announced on the X platform that it has successfully regained control of the cow.fi domain. Previously affected by an attack, the protocol has maintained normal operations on the backup domain cow.finance, and is now gradually transitioning back to the original domain. Investigations show that the attacker deceived the DNS registrar with forged documents to execute a social engineering attack on April 14, subsequently deploying highly realistic phishing pages to steal mnemonic phrases through inducing malicious transaction signatures and popping up fake wallet windows. Officials emphasized that this incident is limited to the domain level, and CoW Swap's own infrastructure and protocol private key security are intact. The officials remind affected users to immediately revoke suspicious authorizations using Revoke.cash, and advise wallets that have leaked information to transfer funds as soon as possible.

Aave Labs Launches AI Governance Security System Aave Checkpoint, Building Multi-layer Audit Defense

Aave Labs has launched the AI-driven governance security system Aave Checkpoint. This system aims to add a layer of structured, multi-dimensional security review processes for each proposal (AIP) and its payload prior to formal execution on the main chain.

ether.fi Completes Migration to OP Mainnet

ether.fi announced on the X platform that it has successfully completed a comprehensive migration to the OP mainnet. The migration covered 70,000 active debit cards, over 300,000 accounts, and a total locked value exceeding $220 million.

UK Asset Management Company Legal & General Tokenizes Over £50 Billion Liquidity Fund

UK asset management company Legal & General has moved its managed liquidity fund of over £50 billion on-chain via Calastone's tokenization distribution network. This series of money market funds offers options in USD, EUR, and GBP, issued as tokenized shares on a blockchain infrastructure, supporting instant trading and same-day settlement.

CoreWeave and Jane Street Reach $6 Billion Agreement, Strategizing in AI Quantitative Trading

AI cloud infrastructure provider CoreWeave has signed a $6 billion deep cooperation agreement with Jane Street. CoreWeave will leverage its high-performance GPU computing resources distributed across multiple data centers to provide AI cloud computing support for Jane Street's high-frequency trading algorithms and complex research operations. In addition to business cooperation, Jane Street will further increase its stake by subscribing to $1 billion of CoreWeave's Series A preferred stock. The share purchase price is set at $109 per share, approximately 7% below CoreWeave's recent closing price. After the increase, Jane Street's total holding value in CoreWeave will reach approximately $1.44 billion, becoming the fifth-largest shareholder in the company.

Tether Invests in SDEV's $134 Million Private Placement, Supporting Its Sky Ecosystem Strategy

The stablecoin issuer Tether has confirmed its participation in the $134 million private placement financing that the publicly traded company Stablecoin Development Corporation (SDEV) recently completed. SDEV aims to provide public market investors with exposure to the stablecoin sector, with its core strategies including holding the governance token SKY of Sky Protocol and utilizing the stablecoin USDS.

Circle Has No Plans for Korean Won Stablecoin, Aiming to Deepen Its Korean Market Through Technology Export

Stablecoin issuer Circle's CEO Jeremy Allaire stated during an event in Seoul that there are currently no plans to directly issue a Korean won-pegged stablecoin. Jeremy Allaire pointed out that while he believes a Korean won stablecoin is crucial for maintaining South Korea's competitiveness in global finance, due to local regulatory constraints, Circle prefers to take on the role of a technology partner. He revealed that the company is closely monitoring the progress of stablecoin legislation in the South Korean parliament. If future regulatory frameworks allow global companies to enter, Circle is willing to apply for the necessary licenses and establish a branch in South Korea.

In-depth & Outlook

Latest Interview with Jensen Huang: Input Electronics, Output Tokens, NVIDIA in Between

If you look at GTC, much of the content is actually not about AI. For example, computational lithography, quantum chemistry, data processing—these are all very important work, just not as popular as AI.

Silicon Valley's Almost Bankrupt Shoe Brand Switches to AI, Stock Price Soars 7 Times, Even the Lobster Father is Confused

For Allbirds, selling off that battered shoe brand to exchange for a chance to continue rolling the dice in the AI casino may be the most "rational" life-extension decision the management can make.

Perspective

NASDAQ Rises for 11 Consecutive Days! Why Didn't the Seven Sisters Return Together?

To be honest, there has never been a shortage of reviews in the market, nor is there a lack of summaries after the fact. What is truly scarce is the ability to point out key issues when disparities are greatest. The forward-looking article at the end of March did not chase after a more sensational and easily spread conclusion but laid out the most critical aspect of this market cycle upfront: the Seven Sisters will not return together, and the market will first distinguish the order of recovery. What truly determines the future space is not who rebounds fastest in the first wave but who can maintain stability in subsequent earnings, trends, and risk preferences.

How PIPPIN Thrives in the Regulatory Desert of Aster: The Game Logic of Reconstructing Contract Trading in PerpDEX

Contract trading risk control at centralized exchanges is undergoing a indiscriminate shooting spree of OI and account freezing, and professional players urgently need a trench that can withstand stray bullet risk controls, support deep ambushes, hide their forms, and strategize. But can Aster, the highly anticipated protocol, during the industry’s structural vacuum period, leverage its permissionless nature and strong BNBchain ecosystem support to become the new battleground for large funds in on-chain contract trading strategies?

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Hong Kong Web3 Daily Must-Read: ether.fi completes migration to OP mainnet, CoreWeave reaches $6 billion agreement with Jane Street.

Project/Company Updates

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