Techub News

Techub News reports that Bitcoin mining company BitMine has announced pricing and signed a private placement agreement to purchase and sell 55,555,556 shares of common stock (or equivalent common stock alternatives) at a price of $4.50 per share, with expected total proceeds of approximately $250 million, net of placement agent fees and other issuance expenses (funded through a combination of cash and cryptocurrency), to implement its Ethereum financial strategy. This transaction is led by MOZAYYX, with participation from investors such as Founders Fund, Pantera, FalconX, Republic Digital, Kraken, Galaxy Digital, DCG, Diametric Capital, Occam Crest Management, and Thomas Lee.

Written by: Callan Quinn, Decrypt

Translated by: Jessica, Techub News

As the new stablecoin regulations will take effect in August, Hong Kong is aligning its fintech development with China's push for 'de-dollarization'.

Key points overview

The new regulations will take effect in August, requiring fiat-backed stablecoin issuers operating in Hong Kong to be licensed.

Financial Secretary Paul Chan links stablecoins to 'de-dollarization' and regional trade in local currencies.

Analysts point out that high capital and reserve requirements may deter global issuers such as Circle (USDC) and Tether (USDT).

Author: ICONIQ

Compiled by: Tim, PANews



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Welcome to read Techub News's "Hong Kong Web3 Weekly Highlights." In this week's report, we will summarize significant events and developments in the Hong Kong Web3 field from June 23 to June 29, as well as the latest data insights and detailed event previews, helping you quickly and comprehensively understand the progress in the Hong Kong Web3 field last week.





Hot News



Hong Kong Web3 organization Web3 Harbour and PricewaterhouseCoopers released the "Hong Kong Web3 Blueprint," planning to launch five action groups in August.



According to the South China Morning Post, Hong Kong Web3 organization Web3 Harbour and accounting firm PwC Hong Kong released the "Hong Kong Web3 Blueprint." This blueprint emphasizes the decentralized features of "transparency, security, and user empowerment," aiming to leverage what it calls "Web3 superpowers" through the development of five core drivers, including talent, market infrastructure, standards, regulation, and financial and economic contributions...

Techub News reports that Europol has announced that the Spanish National Police, in collaboration with law enforcement agencies from Estonia, France, and the United States, has dismantled a cryptocurrency investment fraud gang that scammed over 5,000 victims worldwide. The operation resulted in the arrest of five individuals, three of whom were captured in the Canary Islands and two in Madrid. The criminal network laundered approximately $539 million (around €460 million) in illegal proceeds through fraudulent investment schemes.



Investigators discovered that the criminals operated a global network of associates to facilitate cash withdrawals, bank transfers, and cryptocurrency transfers, while also allegedly establishing companies and banking infrastructure in Hong Kong to manage criminal funds. This investigation, supported by Europol since 2023, highlights the growing threat of online scams, which Europol considers a significant risk to internal security within the EU.

Written by: kkk, Rhythm



Beyond the stablecoin craze, equity tokenization is also becoming a new market narrative.



On June 27, Web3 startup Jarsy announced the completion of a $5 million Pre-seed financing led by Breyer Capital. More than the amount, what truly attracted market attention was the problem they aimed to solve: why do the early growth dividends of top private companies always belong to institutions and super-rich individuals? Jarsy's answer is to reconstruct the participation method using blockchain technology — 'minting' the private equity of unlisted companies into asset-backed tokens, allowing ordinary people to bet on the growth of star companies like SpaceX and Stripe with a $10 threshold.