Hong Kong Web3 Daily Must-Read: South Korea plans to allow banks and non-banks to jointly issue the Korean won stablecoin, and a state-owned enterprise-backed fund in Hong Kong has already laid out plans for the linkage between cryptocurrencies and stocks.
Fear and Greed Index: 44 (Neutral)
Bitcoin Price: $111,448
BTC/ETH Spot ETF Fund Flow (9.8)
BTC Net Inflow: $332.10 M
ETH Net Outflow: $96.01 M
Hong Kong
BTC/ETH Spot ETF Fund Flow (9.8)
BTC Net Subscription: 24.71 BTC
ETH Net Subscription: 0 ETH
HK-listed company Chudi Holdings Group's board has announced that it has approved a strategic investment framework to use up to HKD 4.5 million of its own capital for cryptocurrency investments through its indirect non-wholly-owned subsidiary Tiankun Digital. Of this, HKD 2.5 million will be used as active strategy capital to deploy core quantitative strategies in the Bitcoin and Ethereum spot and perpetual futures markets; the remaining HKD 2 million will serve as risk reserves and special buffer funds to cover potential drawdowns and ensure the strategy's sustainability during extreme market events.
We have specially compiled noteworthy activities in the cryptocurrency field in Hong Kong for September, which will open a window to the future of Web3 for you.
We have specially compiled noteworthy activities in the cryptocurrency field in Hong Kong for September, which will open a window to the future of Web3 for you.
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DAT essentially provides tools for trading volatility, amplifying the price fluctuations of underlying assets, suitable for experienced investors who can withstand volatility and also offering good trading opportunities within specific ranges. In contrast, ETFs (such as the Hong Kong Bitcoin ETF) track spot prices and are a more robust long-term allocation tool.
]( The Blade of Equity Dilution and the Infinite Moat in the Model
After understanding the operational mechanism and risks of "coin stocks," a core question arises: What is the long-term competitiveness and "moat" of DAT-type companies? Where will their future lead?
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[]( The Blade of Equity Dilution and the Infinite Moat in the Model
After understanding the operational mechanism and risks of "coin stocks," a core question arises: What is the long-term competitiveness and "moat" of DAT-type companies? Where will their future lead?
HashKey announced its DAT strategy, planning to launch Asia's largest multi-currency DAT ecological fund for the global market. The fund is designed around the DAT strategy, serving as a perpetual investment tool that aligns with DAT's long-term operational goals and liquidity needs, supporting regular subscriptions and redemptions. HashKey will build a portfolio by initiating and investing in diversified DAT projects focused on mainstream crypto assets, initially focusing on Ethereum and Bitcoin ecological projects. The initial fundraising target for the fund exceeds $500 million.
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[]( Plan to Launch Multi-Currency DAT Ecological Fund with Initial Fundraising Target Exceeding $500 Million
HashKey announced its DAT strategy, planning to launch Asia's largest multi-currency DAT ecological fund for the global market. The fund is designed around the DAT strategy, serving as a perpetual investment tool that aligns with DAT's long-term operational goals and liquidity needs, supporting regular subscriptions and redemptions. HashKey will build a portfolio by initiating and investing in diversified DAT projects focused on mainstream crypto assets, initially focusing on Ethereum and Bitcoin ecological projects. The initial fundraising target for the fund exceeds $500 million.
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]( Plan to Launch Multi-Currency DAT Ecological Fund with Initial Fundraising Target Exceeding $500 Million
HashKey announced its DAT strategy, planning to launch Asia's largest multi-currency DAT ecological fund for the global market. The fund is designed around the DAT strategy, serving as a perpetual investment tool that aligns with DAT's long-term operational goals and liquidity needs, supporting regular subscriptions and redemptions. HashKey will build a portfolio by initiating and investing in diversified DAT projects focused on mainstream crypto assets, initially focusing on Ethereum and Bitcoin ecological projects. The initial fundraising target for the fund exceeds $500 million.
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[]( Plan to Launch Multi-Currency DAT Ecological Fund with Initial Fundraising Target Exceeding $500 Million
HashKey announced its DAT strategy, planning to launch Asia's largest multi-currency DAT ecological fund for the global market. The fund is designed around the DAT strategy, serving as a perpetual investment tool that aligns with DAT's long-term operational goals and liquidity needs, supporting regular subscriptions and redemptions. HashKey will build a portfolio by initiating and investing in diversified DAT projects focused on mainstream crypto assets, initially focusing on Ethereum and Bitcoin ecological projects. The initial fundraising target for the fund exceeds $500 million.
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[The South Korean government has revised real estate transaction regulations, requiring that when purchasing a house with funds converted from virtual assets, it must be truthfully declared in the funding plan. The new regulations were jointly formulated by the Ministry of Finance, the Ministry of Land, Infrastructure and Transport, and other departments, aiming to enhance the transparency of transaction funds and prevent illegal funds from flowing into the real estate market.
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[](<p class=)[The New Zealand Financial Markets Authority (FMA) has launched a public consultation on tokenization, with a deadline at the end of October. The FMA stated that it has received multiple inquiries related to tokenization this year, but there are relatively few actual projects. The FMA is concerned that existing regulations may pose obstacles to startups, leading some companies to choose to bypass local regulations and turn to overseas markets, thereby weakening consumer protection.
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[Project/Company Updates](<p class=)
[South African listed company Altvest Capital plans to raise $210 million to purchase Bitcoin and establish a cryptocurrency treasury reserve. The company's founder and CEO Warren Wheatley stated in an interview that the company will also change its name to "Africa Bitcoin Corp." and is raising funds from overseas and local investors, seeking to list internationally. Altvest Bitcoin Strategies Pty Ltd., a subsidiary of the company, will provide cryptocurrency services on behalf of CAEP Asset Managers Pty Ltd., which is authorized by the Financial Sector Conduct Authority.
]( Altvest Capital Plans to Raise $210 Million for Bitcoin Purchases<p class=)
[]( Altvest Capital Plans to Raise $210 Million for Bitcoin Purchases<p class=)[Hyperliquid ecological trading platform Based announced it has received a multi-million dollar strategic investment from Ethena Labs and established a partnership. This collaboration will promote the application of USDe, USDtb, and other unreleased Ethena products on Hyperliquid. Additionally, Based plans to support payment functions for USDe and USDtb on its debit card while embedding savings features to further expand product usage scenarios.
]( Received Multi-Million Dollar Strategic Investment from Ethena Labs<p class=)
[]( Received Multi-Million Dollar Strategic Investment from Ethena Labs<p class=)[German authorities may have overlooked about 45,000 Bitcoins related to the movie piracy site Movie2K, which were found to "still exist in wallets related to Movie2K," with a value "almost equivalent to the amount seized by Germany last year."
]( Over 45,000 Bitcoins Related to Movie2K<p class=)
[]( Over 45,000 Bitcoins Related to Movie2K<p class=)[European listed company Capital B (formerly The Blockchain Group) announced it has raised approximately €5 million through the issuance of convertible bonds, with the proceeds expected to acquire about 60 Bitcoins, bringing the company's potential total holdings to 2,261. This is part of its ATM-style capital increase plan with TOBAM.
]( B Raises Approximately €5 Million to Advance Its Bitcoin Reserve Strategy<p class=)
[]( B Raises Approximately €5 Million to Advance Its Bitcoin Reserve Strategy<p class=)[Faraday Future founder Jia Yueting tweeted that "C10 Treasury is scaling up, adding $2 million in digital asset allocation and choosing BNB as the largest allocation of cryptocurrency. Additionally, an individual has purchased $180,000 worth of FFAI stock, increasing their holdings."
]( Treasury Adds $2 Million in Digital Asset Allocation and Chooses BNB as the Largest Allocation of Cryptocurrency<p class=)
[]( Treasury adds $2 million in digital asset allocation and chooses BNB as the largest allocation of cryptocurrency<p class=)[The Hong Kong subsidiary of the Industrial and Commercial Bank of China (Asia) has expressed its intention to apply for a stablecoin license with the Hong Kong Monetary Authority, becoming another major Chinese bank to make a similar statement following Bank of China Hong Kong. HSBC has also expressed its intention to apply for a stablecoin license with the Hong Kong Monetary Authority, but it is still unclear whether HSBC will formally submit its application by the end of this month.
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[](<p class=)[The South Korean State Planning Commission is considering granting a consortium of banks and non-bank institutions the right to issue a Korean won stablecoin, with relevant regulations and licensing to be overseen by the Financial Security Commission. Meanwhile, the South Korean Financial Services Commission (FSC) is drafting the "Second Phase Virtual Asset Law," which includes won-denominated stablecoins, expected to be released in October.
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[](<p class=)[Tether CEO Paolo Ardoino responded to rumors that "Tether is selling Bitcoin and buying gold" by stating, "Tether has not sold any Bitcoin. Tether will continue to invest a portion of its profits in safe assets such as Bitcoin, gold, and land." Additionally, he disclosed the company's main Bitcoin holding address starting with bc1qj, stating, "The vast majority of our Bitcoin is held directly."
]( CEO: Tether has not sold any Bitcoin and will continue to invest a portion of its profits in assets like Bitcoin<p class=)
[In-Depth & Outlook]( CEO: Tether has not sold any Bitcoin and will continue to invest a portion of its profits in assets like Bitcoin<p class=)
[Attackers controlled user devices through a malicious Zoom client and exploited features of Chrome's developer mode to tamper with wallet extensions, cleverly replacing users' asset redemption operations with position delegation operations, employing extremely sophisticated techniques. Fortunately, the Venus team demonstrated excellent emergency response capabilities, collaborating and responding quickly to ultimately help users avert potential massive losses.
]( User $13 million hacked in-depth analysis<p class=)
[]( User $13 million hacked in-depth analysis
Currently, several successful stock tokenization projects differ from RWA; they are actually more inclined to treat tokenized stocks as a high-quality tool for more convenient trading, reducing transaction costs, and increasing liquidity.
