Token Exchange 【STOREFUN】BitMart,MEXC 【WARP】BitMart,XT 【ASETQU】Indodax 【MOLE】MEXC 【RICH】MEXC 【MRDN】BingX 【PIGGY】Gate,KuCoin,MEXC 【LUNAM】MEXC 【BTIA】Hotcoin 【VULT】Kraken 【GLORIA】BingX

Odaily Planet Daily reports that the Hong Kong Monetary Authority (HKMA) has released a Phase II report on its "Digital Hong Kong Dollar" pilot program, outlining the results and lessons learned from the trials. The HKMA stated that it will continue to advance policy, legal, and technical preparatory work to prepare for the potential rollout of the "Digital Hong Kong Dollar" for individual and corporate use in Hong Kong. These preparatory work is expected to be completed by the first half of 2026, and the timing of the expansion of the "Digital Hong Kong Dollar" will be adjusted based on international developments, the latest technological advancements, and market demand. The report reveals that the 11 Phase II trials cover three key innovative use cases: tokenized asset settlement, programmability, and offline payments. The HKMA stated that demand for the "Digital Hong Kong Dollar" is currently concentrated outside of retail scenarios, and that, in the future, it will prioritize the development of the "Digital Hong Kong Dollar" for wholesale use and promote its use by financial institutions for payments. Some financial institutions are already using the "Digital Hong Kong Dollar" in certain use cases to support the development of the tokenized ecosystem and cross-border payment scenarios, such as international trade settlement. The Hong Kong Monetary Authority will publish a set of common tokenization standards to promote the widespread use of programmable digital currencies. These standards are intended to lay the foundation for the future development and application of the "digital Hong Kong dollar" to meet the payment needs of individuals and businesses in Hong Kong. (Zhitong Finance)

According to a report by 21st Century Business Herald, on October 28th, the Beijing Municipal People's Procuratorate released "Typical Cases of High-Quality and Efficient Performance of Financial Procuratorial Duties" (2024-2025). One case involved "using virtual currency to indirectly buy and sell foreign exchange, involving over 1.1 billion yuan." Between January and August 2023, Lin Jia, under the instruction of others, colluded with Lin Yi, Xia, Bao, and Chen to use multiple bank cards under their names to receive large amounts of RMB funds transferred from clients (such as Liu) connected to the "upstream" of an illegal currency exchange organization. This gang used virtual currency as a "bridge" to achieve the illegal purpose of cross-border fund transfers: Lin Jia and others converted the received RMB into USDT through multiple USDT trading platform accounts they actually controlled, and then completed the cross-border transfer of funds through platform transactions, essentially engaging in disguised foreign exchange trading and profiting from it. According to the report, the total illegal business activities of the gang amounted to over 1.182 billion RMB, of which five members, including Xia and Bao, participated in activities ranging from over 149 million RMB to over 469 million RMB. On March 21, 2025, the Haidian District People's Court of Beijing issued a first-instance verdict, sentencing all five defendants to prison terms ranging from two to four years for illegal business operations and imposing corresponding fines.

In the past hour, total liquidations across the network reached $10.12 million, with $6.92 million from long positions, with $3.20 million from short positions. BTC liquidation $4.77 million, ETH liquidation $3.08 million.

According to Odaily Planet Daily, the issuance of Ethena's stablecoin USDe has fallen below 10 billion, currently standing at 9.79 billion, a decrease of over 5 billion from its peak of nearly 14.84 billion.