Welcome to read Techub News's "Weekly Highlights of Hong Kong Web3." In this week's report, we will summarize the significant events and developments in the Hong Kong Web3 sector from December 1 to December 7, along with the latest data insights and detailed event previews, helping you quickly and comprehensively understand the progress in Hong Kong's Web3 field last week.
Hot News
Pionex's Singapore Subsidiary Issues Physically Gold-Backed Token XGZ
According to Hong Kong's Sing Tao Daily, the Hong Kong Gold Exchange (HKGX) has issued a digital gold token Gold Zip (XGZ) through its subsidiary in Singapore…
Delin Holdings Group Limited will hold a special shareholders meeting on December 23, Hong Kong time, to vote on a financing and issuance arrangement related to the "Bitcoin Mining Machine Formal Agreement"…
HSBC's Tokenized Deposits Private Chain Adopts Ethereum-Compatible Standards and ERC-20 Consistency
According to Caixin, Sun Lei, Global Director of Local and Innovative Payment Products at HSBC Global Payments Solutions, stated that HSBC has long invested resources to promote tokenized deposit business, expecting that only about 5%–10% of commercial bank deposits will be tokenized in the future…
BloFin Donates HKD 1 Million to Hong Kong Red Cross to Support Fire Rescue Efforts
Cryptocurrency exchange BloFin has donated HKD 1 million to the Hong Kong Red Cross to support rescue and recovery efforts for the recent large-scale fire in Hong Kong…
The election for the functional constituency legislator in the financial services sector has entered a critical stage. Candidate Ms. Lian Shaodong is receiving attention from various industry parties due to her long-term experience in the fund industry, cross-border financial cooperation in industry associations, and digital asset innovation…
According to Wen Wei Po, the Hong Kong Polytechnic University Business School and Tiankun Digital, a subsidiary of Zhu Di Holdings, held a press conference and summit forum at the Hong Kong Polytechnic University…
According to Bloomberg citing insiders, HashKey Holdings is expected to start accepting investor subscriptions for its Hong Kong IPO orders as early as next week…
Wu Jiezhuang Successfully Re-elected as the Eighth Hong Kong Legislative Council Member
Voting for the eighth Legislative Council of the Hong Kong Special Administrative Region has concluded today. Wu Jiezhuang, a strong supporter of Hong Kong Web3 development, advisor to Web3Labs, and candidate from the election committee sector, has been successfully re-elected with 1,311 votes…
Industry Observation
Wu Jiezhuang believes that in promoting AI and big data development, government resources should focus on driving the key positions of the overall innovation and technology ecosystem. The primary strategy is to promote application scenarios with demonstrative effects, making good use of the vast data from government departments in transportation, healthcare, urban planning, etc., by opening non-sensitive data and establishing cross-departmental coordination platforms to attract industry and research institutions to participate together. He stated that this suggestion has been accepted by the Chief Executive and proposed the establishment of an "AI Efficiency Enhancement Group" in the new Policy Address to strengthen civil servants' digital technology capabilities.
Mainland Reiterates Virtual Currency Regulatory Policies, Actually More Beneficial to Hong Kong
Recently, the People's Bank of China held a meeting to combat virtual currency trading speculation, which has caused a "viral spread" in the industry. For those unfamiliar with domestic regulatory logic, this seems like the state is once again implementing a "one-size-fits-all" approach to virtual currencies; however, for those who have been following the domestic virtual asset governance system for the past decade, the content of this meeting is not only familiar but somewhat expected.
Crypto Capital Enters UK Politics: Reform UK Receives £9 Million Donation from Bitfinex Shareholder
The Reform UK party, led by Nigel Farage, received more donations in the third quarter than all other UK political parties, thanks to a record £9 million (approximately $12 million) donation from cryptocurrency investor Christopher Harborne—an indication that businesses and wealthy individuals are taking the party's lead in polls seriously.
According to data compiled by Bloomberg from the UK Electoral Commission, this populist party received a total of £10.3 million in donations from July to September; the ruling Labour Party led by Keir Starmer received £2.2 million, while the main opposition Conservative Party received £4.7 million, and the above data does not include public funds provided to opposition parties.
BlackRock CEO: Sovereign Funds are Quietly Buying Bitcoin at Low Prices
Larry Fink, the head of the world's largest asset management company BlackRock, publicly stated that sovereign funds are quietly joining the Bitcoin investment wave. Fink, who once referred to Bitcoin as a "money laundering index," has now become an important driving force in the cryptocurrency market.
In 2017, he publicly criticized Bitcoin as primarily associated with illegal activities. This shift occurred after 2020 when massive quantitative easing by global central banks raised concerns about the traditional monetary system, leading Fink to begin acknowledging that Bitcoin "could evolve into a global market." Now, he leads the world's largest spot Bitcoin ETF—iShares Bitcoin Trust (IBIT).
BlackRock is set to launch a spot Bitcoin ETF after receiving approval from the U.S. Securities and Exchange Commission in January 2024, and its Bitcoin holdings have now exceeded 800,000, making it one of the largest Bitcoin-holding institutions globally.
Data Insights
Hong Kong Bitcoin & Ethereum Spot ETF Inflows and Outflows
According to ichaingo data statistics, last week, Hong Kong's Bitcoin spot ETF had a net subscription of approximately 72.56 units, with a total ETF holding value of about $350 million, an increase of about $38 million in holding value; the Ethereum spot ETF had a subscription and redemption volume of 0 units, with a total ETF holding value of about $102 million, an increase of about $13.2 million in holding value.
Event Information
"Sustainable Finance, Artificial Intelligence, and Digital Asset Revolution Forum"
The "Sustainable Finance, Artificial Intelligence, and Digital Asset Revolution Forum" will be held on December 9 from 19:00 to 21:00 in Hong Kong, co-hosted by UST Web3 Labs, the Global Digital Visionaries Council, Climate Solutions Lab, and HKGHH. It will deeply explore transformations in finance, sustainable development, artificial intelligence, blockchain, and other fields.
"Cryptocurrency Christmas: 2025 Closeout Summit"
The "Cryptocurrency Christmas: 2025 Closeout Summit" will be held on December 12 from 13:00 to 19:00 in Hong Kong, hosted by Walletton. Against the vibrant backdrop of Hong Kong's ocean skyline, Closeout Summit 2025: The Sea of Web3 Opportunities will celebrate the milestones of the year while deeply exploring emerging opportunities in Web3, artificial intelligence, DeFi, and digital assets.
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