ChainCatcher news, according to official sources, Eddid Financial Singapore Pte. Ltd., a wholly-owned subsidiary of Hong Kong financial group Adept Financial, has received in-principle approval from the Monetary Authority of Singapore (MAS) for its capital markets services license application. Once the license is officially approved, it will be able to provide clients with capital market product trading, product financing, custody services, and more.Adept Financial stated that in the future, it will actively expand its local business footprint to include virtual assets, corporate financing, and fund management, and will establish an office in Singapore.

ChainCatcher news, Chris Williams announced on X that he is resigning as CEO of OpSec.He stated: "The entire core team will also resign with me. Despite our best efforts, we have encountered some challenges that prevent us from continuing to work in a manner consistent with our values of transparency, accountability, and integrity.This decision was made based on recent findings revealed by ZachXBT, as well as our self-assessment of OpSec's operations. These findings, combined with the long-term absence of undisclosed founders and separate control over the company's finances, severely limited our ability to effectively lead and execute our vision. Payment delays, layoffs, and the unclear direction of OpSec's development have placed immense pressure on our team and affected our collective ability to fulfill our commitments to our loyal community."According to RootData, OpSec is an artificial intelligence and decentralized cloud computing platform with features such as decentralized servers, dedicated networks, RDP, GPU, and one-click node setup, aimed at achieving cloud security for DePIN hardware.Previously reported, on-chain detective ZachXBT stated on X: "The SCALE, NTD, TPU, and OPSEC projects are all associated with the same person Zopp0, who uses multiple KOLs to exploit inexperienced traders."

ChainCatcher news, according to The Block, Federal Reserve Governor Christopher Waller stated at the 19th Vienna Macroeconomic Workshop held in Vienna, Austria, that technological advancements can "drive improvements in financial efficiency." DeFi will not replace centralized finance, partly because intermediaries are still needed. "While some services emerging through DeFi are not provided by centralized finance, the technological innovations brought by DeFi largely complement centralized finance." "They have the potential to improve centralized finance, thereby enhancing the significant value provided by financial intermediaries and centralized financial markets."Christopher Waller is one of the seven members of the Federal Reserve Board, nominated to the position by former President Donald Trump in 2020.Previously, Christopher Waller compared cryptocurrencies to baseball cards, showing a preference for innovations in stablecoins rather than central bank digital currencies. Christopher Waller also believes that privately issued stablecoins will strengthen the dollar rather than weaken it.

ChainCatcher news, the Shanghai Municipal Government Information Office held a press briefing to introduce the recently issued "Action Plan for Promoting the Construction of a Global Financial Technology Center in Shanghai" (hereinafter referred to as the "Action Plan"). He Weili, Deputy Director of the Technology Supervision Department of the Shanghai Financial Regulatory Bureau, stated that the Shanghai Financial Regulatory Bureau will focus on the main content and emphasize "three promotions." Promote the innovative application of financial technology in the banking and insurance industries. In the future, the Shanghai Financial Regulatory Bureau will guide banks and insurance institutions within its jurisdiction to strengthen the innovative application of financial technology, supporting institutions in utilizing technologies such as artificial intelligence, blockchain, the Internet of Things, and big data to promote product and service innovation, providing customers with more personalized, diversified, and customized financial products. (Jin Shi)

ChainCatcher MessageJupiter co-founder Meow published a lengthy article on "Telegram CEO Pavel Durov's Arrest": "Finance is power. Today's blatant arrest of Pavel clearly indicates who holds that power. This is a warning to all other protocol developers, no matter where you are or how popular you are, as long as the holders of financial power are willing, they can find you.""This is a primal assertion of more primitive power that sends chills down my spine, an ancient formula for ensuring obedience. Decentralization is not only a way for us to mint magical cryptocurrencies but also an important tool for balancing the world's power structure. We need to be as independent as possible from centralized systems, which occurs on three levels: at the technical level, we promote the adoption of decentralized approaches; at the monetary level, we break the ability of centralized parties to undermine the livelihoods of the entire economy; and finally, at the power level, we have a voice just like large corporations and governments. We determine the global agenda and spirit. Without this decentralized power base, we are doomed to remain under the control of a few, like mice trapped in a maze designed by the owners of these thumbs.""Ultimately, such cases need to become our battle cry, urging us to stop flattering those institutions that offer us ETFs, fancy campaign slogans, and 'false friendships.' As an industry, we are done for because we are always flattering others instead of fighting for what the world needs. We must build for the future we want to see, for the friends we want to be with, and for the people we want to become. We may have the opportunity to establish the decentralized power base that the world desperately needs."

ChainCatcher news, according to Cointelegraph, analysts from consulting firm McKinsey stated that while tokenized financial assets have experienced a "cold start," their market size is expected to reach approximately $2 trillion by 2030.In an optimistic scenario, this value could double to around $4 trillion. Tokenization has shown "significant momentum," but widespread adoption is still a long way off, as modernizing existing financial infrastructure is "challenging, especially in heavily regulated industries like financial services."

ChainCatcher news, Han Tongli, CEO of Harvest International, revealed that the company is preparing to issue collateralized financial products based on cryptocurrency spot ETFs. The current goal is to achieve the highest trading volume for its cryptocurrency spot ETF in Hong Kong by the end of this year. Data shows that the first-day trading volume of Harvest International's cryptocurrency spot ETF ranked second among three fund companies, with ChinaAMC ranking first.Han Tongli stated that due to skepticism about Hong Kong's commitment to virtual assets, many investors are still on the sidelines, which puts pressure on the trading volume of cryptocurrency spot ETFs. However, Han Tongli added that he is confident that Hong Kong's cryptocurrency ETFs can grow to twice the size of products in the United States, although he did not mention when this milestone could be achieved.

ChainCatcher message, Galxe stated on social media that its website is offline and will be back online after the correct DNS records propagate globally. If users do not approve any transactions linking their wallets to Galxe after 21:00 Beijing time on October 6, their funds and information are safe.Galxe uses Dynadot's domain registration service. The domain http://Galxe.com was previously compromised, and an unauthorized individual temporarily controlled the Dynadot account. Galxe regained ownership of the domain at 00:00 Beijing time on October 7 and worked with Dynadot to ensure the security of the account. Preliminary assessments indicate that the total amount of lost funds may be around or less than $200,000.It is reported that the team has been in contact with relevant law enforcement authorities and will soon share a complete report and fund recovery plan.

According to ChainCatcher news, as reported by DL NEWS, the Level 1 exam of the Chartered Financial Analyst (CFA) in the United States will include questions related to blockchain and digital assets starting next February.Since 2019, candidates taking the Level 1 exam have encountered questions related to distributed ledger technology and blockchain, and next year will be the first time the exam includes modules such as "Introduction to Digital Assets."

ChainCatcher news, informed sources revealed that the South Korean gaming company WeMade is conducting WEMIX token sales in the over-the-counter market through the issuance of structured financial products. These tokens will be directly sold in the secondary market, such as exchanges, after the lock-up period ends. Due to the controversy over WEMIX's circulation, the sales on exchanges did not go as planned.According to the memorandum of the structured financing transaction terms, which is suspected to have been written in March this year, the minimum investment is 300 million won, with a lock-up period of one year, adjustable based on the amount. When the fund purchases tokens held by the Wemix Foundation, the discount rate is over 20%. The fund offers a basic return rate of 10%, and investors are required to pay a 1% management fee to the fund.Informed sources stated that at the time, the Wemix Foundation aimed to create a fund amounting to 3 billion to 5 billion won or even higher. "As far as I know, the fund is specifically set up for large individual investors."

ChainCatcher news, Nanhua Financial Group announced that its subsidiary Nanhua Securities has become one of the first financial institutions to be licensed by the Hong Kong Securities and Futures Commission after the virtual asset service provider system came into effect. Nanhua Securities was approved by the Hong Kong Securities and Futures Commission on March 17 of this year to act as an introducing agent for virtual asset trading platforms. Following this approval, professional investor clients can be referred by Nanhua Securities to virtual asset trading platforms for virtual asset trading. (Source link)

ChainCatcher news, the multi-in-one financial crime effectiveness testing platform supporting cryptocurrencies, Cable, announced the completion of a $11 million Series A funding round, with investments from CRV, Stage 2 Capital, and Jump Capital.It is reported that Cable can detect financial crime regulatory violations in real-time, thereby helping to reduce financial crime and providing the transparency that banks, regulators, and consumers want and need. Its clients include fintech and cryptocurrency companies such as Tide and Ramp. The automated tools of the Cable platform can more effectively develop and serve Web3 partners and clients. (Source link)

ChainCatcher news, the encrypted structured financial product OpenTrade has announced the completion of a $1.5 million funding round, led by Sino Global Capital, with participation from Circle Ventures, Kronos Research, Kyber Ventures, Polygon Ventures, and Outlier Ventures. This funding will help OpenTrade expand its business ahead of launching its initial products in the second half of this year, which will include a liquidity pool for U.S. Treasury bills, investment-grade commercial paper, and investment-grade supply chain financing. (source link)

ChainCatcher news, the Brazilian Federal Public Prosecutor's Office and the Federal Police have launched an investigation into Binance for alleged financial crimes. The investigation was initiated after a report from the market regulator, the Brazilian Securities Commission (CVM). It was reported that the CVM informed the São Paulo State Attorney General that the exchange might continue to offer cryptocurrency derivatives to Brazilian customers, even though the state had issued a cease-and-desist order.Binance stated that it would not comment on the ongoing investigation and reiterated that it does not offer derivatives in Brazil, that its operations comply with local regulations, and that it maintains a long-term dialogue with authorities to promote the development of Brazil and the Brazilian cryptocurrency and blockchain sector. (Source link)

ChainCatcher News, U.S. Treasury: We should strengthen the regulation of decentralized financial services. (Source link)

ChainCatcher news, global settlement bank platform Arf has launched an unsecured short-term working capital financing solution based on USDC for licensed financial institutions, in collaboration with the Stellar Development Foundation to address liquidity constraints faced by payment and remittance companies in cross-border payments.It is reported that the above solution is built on the Stellar network and is supported by USDC issued by Circle, providing unsecured and short-term (1 to 5 days) working capital for globally qualified licensed financial institutions. Financial institutions can settle on the same day with partners in the required countries without the need for pre-funding or any additional collateral. (source link)

ChainCatcher news, according to Bloomberg, the Indian Ministry of Finance stated in a notification that anti-money laundering legislation has been applied to cryptocurrency transactions, custody, and related financial services. This is the latest move by the government to strengthen regulation of crypto assets. (Source link)