ChainCatcher news, according to the Daily Economic News, the chairman of the Korea Exchange (KRX), Jeong Eun-bo, stated that South Korea should quickly incorporate cryptocurrencies into the financial system to overcome regulatory barriers and maintain international competitiveness. He pointed out that since Donald Trump was elected President of the United States, the daily trading volume of the South Korean crypto market has exceeded 20 trillion won (approximately 14 billion USD) compared to the domestic stock market.At the recent World Federation of Exchanges (WFE) summit, Jeong Eun-bo emphasized that ignoring the virtual currency market would affect the profitability of exchanges. He also criticized the current attitude of viewing virtual currencies as speculative assets, warning that this could lead to South Korea falling behind in international competition. Despite the rapid growth of the crypto market in South Korea, there are currently no crypto companies listed on the KRX, and businesses are unable to purchase cryptocurrencies on their balance sheets, while regulators have not yet approved the launch of a Bitcoin spot ETF. He urged South Korea to seize the opportunity to institutionalize the cryptocurrency market to create new value and enhance international competitiveness.

ChainCatcher news, according to CryptoSlate, Robinhood CEO Vlad Tenev recently emphasized the significant efficiency advantages of operating in cryptocurrency, believing that the cryptocurrency business model outperforms traditional finance in terms of cost and customer service.Tenev stated on CNBC on November 12 that the cost of operating a cryptocurrency business is "about an order of magnitude lower than traditional financial services." He highlighted that blockchain technology significantly reduces transaction and operational costs, providing a substantial competitive advantage for crypto platforms.While many industries are still debating the future of digital assets, Tenev believes that cryptocurrency is a key component of the next generation of financial services. The current regulatory environment is heavily influenced by the U.S. SEC, leading many crypto innovations to shift overseas. However, Tenev believes that recent statements from the Trump administration may pave the way for a more lenient regulatory approach in the U.S.

ChainCatcher news, according to a report by Coindesk, research and brokerage firm Bernstein has pointed out that U.S.-listed Bitcoin mining companies have a significant advantage over their unlisted counterparts due to their ability to raise funds in the world's deepest capital markets. This ease of capital acquisition provides them with more financial options, making them more competitive, especially in capital-intensive industries.Bernstein noted that large publicly traded Bitcoin miners in the U.S. are gradually becoming consolidators in the industry. Leading miners should focus on expanding market share and increasing hash rates, rather than compensating for funding needs by selling mined cryptocurrencies at low prices. Recently, the financing actions of Marathon Digital, Riot Platforms, Core Scientific, and Bitdeer further support this view, as these companies have raised funds through the issuance of convertible bonds and stocks to expand their market influence.Additionally, Bernstein emphasized that although Bitcoin mining and artificial intelligence (AI) data centers share similarities in power demand and high-density power specifications, their business models are entirely different. Nevertheless, scaling is crucial for both. The report also reiterated that with the increase in institutional adoption and the popularity of exchange-traded funds (ETFs), Bitcoin prices are expected to reach a new high of around $200,000 by 2025.

ChainCatcher news, at the welcome dinner of the Global Prosperity Summit 2024 held in Hong Kong on May 13, Mr. Wu Jihan, co-founder of Matrixport, and Mr. John Lee, Chief Executive of Hong Kong, exchanged views on the recent development of the global digital asset industry and the demonstration value brought by the regulatory implementation in Hong Kong for global digital asset regulation. They expressed that the company will continue to increase its investment in Hong Kong, leveraging the advantages of financial talent and ecosystem in the region.The Chief Executive expressed encouragement for Matrixport's development of digital asset business in Hong Kong, emphasizing that Hong Kong will continue to build a more comprehensive digital asset ecosystem and attract more creative and competitive digital asset companies to grow and thrive in Hong Kong.

ChainCatcher news, the Financial Secretary of the Hong Kong Special Administrative Region, Paul Chan, published a blog post today titled "Strengthening Foundations and Enhancing Quality Development." The disclosed information shows that over 400 companies have settled in Cyberport in the past year, bringing the total number of companies in the community to over 2,000, among which 8 are unicorns; startups have raised a total of over 40.6 billion HKD, with a clear advantage in the fintech and third-generation internet sectors. The development of artificial intelligence is accelerating and technically supporting the digital transformation of Hong Kong enterprises.

ChainCatcher news, Web3 game engine and application Rollup developer Zypher Network announced a strategic partnership with io.net. Zypher Network will integrate io.net's decentralized GPU cluster network to assist with zero-knowledge proof verifiability operations for on-chain games developed using its game engine. Both parties stated that they will continue to explore leveraging the advantages of decentralized GPU clusters to promote on-chain game development and growth.It is reported that Zypher Network previously formed a strategic partnership with Risc Zero and launched product lines such as the ZKP and AI-driven high-performance game engines Secret Engine and AW Engine, as well as the one-click chain issuance kit Zytron Kit specifically for on-chain games Layer 3.

ChainCatcher news, BitMEX co-founder Arthur Hayes, in his latest blog post, delves into the evolution of ownership structures and fundraising methods in crypto projects. Hayes explores how the business model of the historical East India Company compares to the operation of modern crypto projects, discussing how the progression from Bitcoin to Initial Coin Offerings (ICOs), yield farming, and the latest points systems has become a natural evolution for user participation and fundraising.Hayes emphasizes the fundamental differences in fundraising and attracting users between Web 2.0 and Web 3.0 projects, particularly in crypto projects where holding tokens or points allows users to directly participate in the ownership of the project, marking a significant paradigm shift. He believes that the emergence of Bitcoin signifies a new beginning where participation equates to ownership. Subsequently, ICOs as an early fundraising method allowed retail investors to participate early, while yield farming further incentivized participation by rewarding users for directly using the protocol.According to Hayes' analysis, the latest points systems combine the strengths of both ICOs and yield farming. This system creates a more flexible and sustainable incentive mechanism by issuing points to users who interact with the protocol, which may potentially convert to tokens in the future. Hayes argues that this approach not only effectively attracts and retains users but may also provide a fairer way for retail investors to participate in projects at a lower cost in the early stages.Additionally, Hayes mentions the potential impact of points systems on the fundraising strategies of crypto projects, noting that this could reduce reliance on venture capital and high-net-worth investors for pre-sale tokens. He emphasizes that the success of such systems relies on a high level of trust between project founders and users, while also cautioning about the potential risks and misconduct that may arise.