Daily Report ｜ Chen Haolian: The Hong Kong government will ensure that the regulatory system reduces the actual and potential risks of virtual assets; On the ninth trading day of the Bitcoin spot ETF, GBTC saw a capital outflow of 429 million USD

Organizer: Luan Peng, ChainCatcher

"What important events have occurred in the past 24 hours"

1. Chen Haolian: The Hong Kong government will ensure that the regulatory framework reduces actual and potential risks of virtual assets
According to ChainCatcher, Chen Haolian, Deputy Secretary for Financial Services and the Treasury of the Hong Kong government, stated at the Asian Financial Forum that the authorities are proactive participants in promoting the development of virtual assets and the third-generation internet ecosystem. He plans to amend the law to bring the trading activities of virtual asset over-the-counter exchanges under regulatory oversight. Chen pointed out that the government will ensure that the regulatory framework manages and reduces the actual and potential risks of virtual assets while providing a transparent and predictable regulatory environment for industry development. Web3, built on a solid foundation of blockchain technology, is a rapidly developing field; Hong Kong has always emphasized the resilience of its financial markets, and this applies to virtual assets as well.

He mentioned that there are over 170 companies related to the third-generation internet established in Hong Kong from more than 20 economies; the licensing system for virtual asset trading platform operators was implemented in June last year, with two operators already licensed, and the Securities and Futures Commission is reviewing applications submitted by over 10 platform operators. The consultation on the regulatory framework for stablecoins released in December last year has invited public feedback, and the Monetary Authority will launch a sandbox arrangement to facilitate exchanges between regulatory bodies and the industry. (Source link)

2. Hong Kong Securities and Futures Commission: If involving licensed platforms, allow customers to withdraw virtual assets through financial intermediaries

According to ChainCatcher, Cai Zhonghui, the interim head of the Intermediaries Division of the Hong Kong Securities and Futures Commission, stated at the Asian Financial Forum that there is a trend of tokenization in traditional financial products, raising concerns about whether ownership may be lost and whether the related technology is reliable.

Cai pointed out that regulating virtual asset trading platforms is very important, as it involves the reliability of public investments in a platform. Therefore, it takes time to consider the design and security measures involved, as well as how to respond to cyberattacks. Regarding the industry's proposal to allow customers to withdraw virtual assets through financial intermediaries, the Commission's position is that if it involves licensed platforms, it is advisable. (Source link)
3. Bitcoin spot ETF sees outflows of $429 million on the ninth trading day of GBTC

According to ChainCatcher, Bloomberg ETF analyst James Seyffart posted on X that on the ninth day of trading for the spot Bitcoin ETF, GBTC saw outflows of $429 million. (Source link)

4. Binance to launch APT/FDUSD and BLUR/USDC spot trading pairs tomorrow at 16:00
According to ChainCatcher, Binance announced that it will launch APT/FDUSD and BLUR/USDC spot trading pairs on January 26, 2024, at 16:00 (UTC+8). Additionally, Binance will open trading bot services for the following trading pairs on January 26, 2024, at 16:00 (UTC+8):

Spot Grid, Spot DCA (Dollar-Cost Averaging), Smart Holding: MANTA/USDT

Spot Algorithmic Orders: APT/FDUSD, BLUR/USDC (Source link)

"What interesting articles are worth reading in the past 24 hours"

1. “Solana launches SPL token standard with 13 new features, aiming to amplify the B-end market?”

The Solana Foundation announced the launch of a new standard for SPL tokens called "Token Extensions." Token Extensions is the next-generation Solana program library standard designed to help businesses provide more efficient security and compliance services on the Solana network, offering flexible and secure tools for digital and RWA assets on Solana.

Token Extensions introduce a new set of methods to extend the conventional token functionalities. The original token standard introduced basic functions such as transfer, freeze, and minting tokens, while Token Extensions include the same functions but also add features like privacy transfers, custom transfer logic, and extended metadata. They unlock new functionalities for businesses and developers, which were previously impossible to achieve on public chains in some cases.

Solana stated that crypto service company Paxos and stablecoin issuer GMO-Z.com Trust Company have already adopted Solana's Token Extensions to issue stablecoins.

2. “Data Analysis Guide for Web3 Game Developers”

In the highly competitive Web3 gaming industry, success depends not only on the release of games but also on having a high level of sensitivity during game operations to respond to the next bull market.

There is great confidence in the gaming industry for 2024. Doug McCracken, marketing head of A16Z GAMES and GAMES FUND ONE, stated, "Recently, many people in the market have been discussing Disney's re-entry into the video game market, but I believe that a certain video game company will become the next Disney."

The booming Web3 gaming industry places higher demands on operational professionals. To improve user retention, enhance user engagement, and extend the lifecycle of gaming products, in-depth data analysis has become crucial.

This article delves into methods of data analysis for Web3 games, providing game developers with insights on analytical methods, tool exploration, and more valuable insights.

3. “SatoshiVM and IDO platform clash, 300x myth collapses due to uneven interests”

Do you remember the Bitcoin L2 project SatoshiVM, which surged 50 times in one day, with IDO returns of 300 times, and over 280 well-known KOLs promoting it?

From the first tweet to the official launch of the issuance, it took only 10 days to create a popular Bitcoin concept project with a market value of over $100 million.

A lot of questions have arisen around this project:

Who is the issuer behind this project? How could they mobilize over 200 of the most influential KOLs in the crypto space to collectively promote it in such a short time?

According to SatoshiVM's tokenomics, 15% of the supply is allocated to contributors (KOLs), with the allocation contract 0xe77…5E00 sending over 1.2 million SAVM (approximately $12 million) to 250 KOLs, of which 50% has already been sold on Uniswap.