Organization: Nona
Fear and Greed Index: 46 (Greed)
Bitcoin Price: $113,039
BTC/ETH Spot ETF Fund Flow (8.21)
BTC Net Outflow: $194.32 M
ETH Net Inflow: $287.61 M
Regulation/Macro
Hong Kong Securities and Futures Commission: Beware of illegal individuals impersonating senior executives of the Commission sending phishing emails.
The Hong Kong Securities and Futures Commission reminds the public to be wary of illegal individuals impersonating the Commission to commit fraud. The agency has found that scammers impersonate certain senior executives of the Commission and well-known stock commentators to contact the public through phishing emails and forged documents, including impersonating the Executive Director of the Regulatory Enforcement Division, Wei Hongfu (Christopher Wilson), sending fraudulent emails in an attempt to install malware or ransomware on the computers of recipients who reply to the emails, as well as impersonating the Chief Financial Officer of the Commission, Wen Zhiyao, to send phishing emails under the guise of a 'data verification procedure,' attempting to extract contact information from recipients, targeting licensed firms and their employees. The Hong Kong Securities and Futures Commission emphasizes that all of the aforementioned messages and claims are false, and urges the public to be vigilant when dealing with communications of unknown origin.
Sources: EU officials are accelerating the planning of the digital euro.
The new stablecoin bill in the United States has raised concerns about Europe's digital currency competitiveness, prompting EU officials to accelerate the planning of the digital euro. Since the passage of the bill, EU officials have been 'rethinking the digital euro plan.' Sources added that, for privacy reasons, officials are currently considering running the digital euro on public blockchains like Ethereum or Solana, rather than the previously anticipated private blockchain.
A Pennsylvania legislator in the United States has proposed a bill banning public officials from holding and trading cryptocurrencies.
Democratic State Representative Ben Waxman from Pennsylvania has proposed bill HB1812, which aims to prohibit public officials and their immediate family members from profiting through cryptocurrencies during their terms, including issuing, promoting, or trading cryptocurrencies that hold personal financial interests. 'In Pennsylvania, no public official should be allowed to exploit their position for personal gain through cryptocurrency schemes.' If the bill passes, relevant individuals and their immediate family members will not be allowed to conduct cryptocurrency transactions exceeding $1,000 during their term and for one year after leaving office and must liquidate their holdings within 90 days of the bill's enactment, with violations punishable by up to 5 years in prison or a maximum fine of $50,000.
Project/Company Updates
The Hong Kong-listed company Shankai Holdings has issued corporate tokenized notes totaling $40 million.
The Hong Kong-listed company Shankai Holdings has issued corporate tokenized notes totaling $40 million, which are deployed on the HashKey Chain, aiming to push for the construction of 'AI Computing Power + Data Assets', and will subsequently bring the company's quality physical assets 'on-chain'.
Gemini has obtained the MiCA license issued by the Malta Financial Services Authority.
Gemini has obtained the MiCA (Crypto Asset Market) license issued by the Malta Financial Services Authority (MFSA), and this approval will allow it to offer cryptocurrencies in all 30 European countries and regions.
Hong Kong-listed company Tiens Resources plans to issue tokenized silver digital currency.
The Hong Kong-listed company Tiens Resources (08028.HK) will collaborate with AD Securities and Futures to issue digital tokens backed by physical silver assets (silver tokens), promoting Hong Kong's first tokenized physical asset (RWA) project. AD Securities and Futures' parent company will assist the product issuer in obtaining all necessary approvals from regulatory authorities (if any) before launching the silver tokens.
US-listed company Reborn Coffee has launched a pilot program for cryptocurrency payments at some locations in Southern California.
The Nasdaq-listed American coffee chain Reborn Coffee plans to trial cryptocurrency payment functionality at some locations in Southern California in 2025, and will add this feature to its existing point-of-sale (POS) platform. Reborn Coffee previously announced it is initiating a strategic assessment, considering incorporating regulated digital assets into its financial management framework, and plans to explore blockchain assets including Bitcoin and Ethereum to optimize fund management efficiency and diversify non-operating capital reserves.
PwC: Recommends Hong Kong accelerate the promotion of digital asset-related strategies.
In response to the recent publication by the Hong Kong government (Hong Kong Digital Asset Development Policy Declaration 2.0), PwC recommends accelerating the promotion of digital asset-related strategies. The firm believes that Hong Kong has the potential to position itself as a digital-first asset and wealth management center, and establishing a registration system for blockchain-native assets will help promote asset tokenization, while also establishing mechanisms for the issuance and transfer registration of digital assets such as land, intellectual property, and equity investments to simplify processes and shorten transaction times.
US-listed company Verb Technology disclosed it has held $713 million in TON.
US-listed company Verb Technology (Nasdaq: VERB) has held over $780 million in assets, including $713 million in Toncoin (TON) and $67 million in cash, marking an important milestone in the company's advancement of its TON blockchain-related strategy. Verb Technology completed a $558 million private placement in August this year, with most of the funds used to purchase TON as a primary reserve asset.
Trading platform CoinW involved in money laundering of 2.3 billion TWD, prosecutors charge 14 individuals.
The Shilin District Prosecutor's Office in Taiwan stated that the cryptocurrency trading platform CoinW is involved in assisting a fraud group in converting cash into virtual currency, with money laundering amounting to 2.3 billion TWD, affecting over a thousand victims. Police began searches in April, detaining 14 individuals including the responsible person, Shi Qiren, and seizing 60.49 million TWD in cash and 640,000 USDT in virtual assets. The prosecutors have charged the 14 individuals today with fraud, money laundering, and organized crime, seeking to confiscate criminal proceeds of 1.275 billion TWD. The prosecutors pointed out that Shi Qiren and others did not obtain approval from the Financial Supervisory Commission (FSC) and failed to complete anti-money laundering registration, illegally providing virtual asset services through the overseas exchange CoinW and more than 40 affiliated stores, which were actually a means for the fraud group to collect money. Additionally, Shi Qiren's attitude after committing the crime was poor, and the court intends to sentence him to 25 years in prison.
In-depth & Prospective
BTC Ecosystem Competing in the Second Half: Who is the Optimal Solution for Value Carrying?
Observing the different technological paths of the BTC ecosystem reveals that we are still in a development phase for the BTC ecosystem. The true prosperity of the BTC ecosystem is still far from arriving. Therefore, the battle over the BTC L2 route has just begun.
Joint Attack: Detailed explanation of CFTC's 'Crypto Sprint' and SEC's 'Project Crypto' strategic blueprint.
As the regulatory framework gradually takes shape, the market's pricing power will accelerate its shift from early participants to institutional investors. The entry of Wall Street will bring unprecedented depth, liquidity, and stability to the market.
Opinions
With the four-year term approaching, will this bear market arrive on time?
When discussing this bear market, in addition to the cooling of an overheated market, it is also the first time that Bitcoin's price has begun to be influenced by the macro environment. The Federal Reserve began its interest rate hike cycle in 2015, conducting a total of 9 rate hikes by the end of 2018, 7 of which were concentrated in 2017 and 2018. As an asset extremely sensitive to liquidity, this round of rate hikes has also become one of the important factors for Bitcoin's decline.
JPMorgan's Heavy Interpretation: Four Factors Enable Ethereum to Outperform Bitcoin.
According to the latest research report released by JPMorgan, Wall Street analysts attribute this phenomenon to four core factors - ETF structural optimization, increased holdings by corporate finance departments, a softened attitude from regulators, and the potential lifting of staking functions in the future. These factors not only explain Ethereum's recent strength but also suggest it may have greater upward potential in the future.
