ChainCatcher news, according to Sing Tao Daily, the Hong Kong Legislative Council's Web3 and Virtual Assets Development Subcommittee held a meeting yesterday, focusing on the regulation and development of virtual asset trading platforms in Hong Kong. The Deputy Secretary for Financial Services and the Treasury, Chen Haolian, stated that the popularity of ETFs in Hong Kong has increased in recent months, and they will continue to maintain close contact with the industry. Regarding whether Hong Kong will choose one of the methods used by the Trump couple to issue their own Memecoin as a testing ground, Chen Haolian responded that Hong Kong places great importance on the market's leading role, and the government has also issued its own NFT (non-fungible token).

ChainCatcher news, the cryptocurrency market research firm Santiment posted on the X platform, noting that since Trump was elected as the 47th President of the United States two months ago, the correlation between cryptocurrencies and stocks has remained at a high level. However, today we observe that Bitcoin is showing a soaring trend relative to the S&P 500 index (based on its usual volatility range).For most of the past three years, the image of cryptocurrencies in the minds of most community members has gradually shifted to "high-leverage tech stocks." However, signs from early 2025 indicate that Bitcoin may be gradually detaching from the conventional volatility trajectory of the global stock market.Historically, the cryptocurrency market tends to thrive and experience the most significant bull markets during periods of low or no correlation with the stock market. If Bitcoin and other cryptocurrencies can achieve strong growth in January without relying on the S&P 500 index, it would be a strong signal, indicating a significantly increased possibility of reaching new all-time highs.

ChainCatcher news, according to The Block, major altcoins have outperformed Bitcoin in both weekly and monthly indicators, demonstrating greater stability, even amidst Bitcoin's recent volatility. After Bitcoin reached an all-time high of $103,000, its price has dropped over 5% in the past 24 hours, falling below the $100,000 mark. In contrast, altcoins like Ethereum and Solana have only seen a slight pullback of about 1% during this decline.Bitwise's Head of Research in Europe, André Dragosch, stated, "Since the beginning of November and the U.S. elections, an increasing number of altcoins have outperformed Bitcoin. The Altcoin Season Index shows that 85% of the altcoins it tracks have outperformed Bitcoin in the past 30 days. Additionally, altcoins seem to be driven by a more diversified investment narrative, with their performances showing an increasingly widening divergence."André Dragosch pointed out that Bitwise's data indicates that the correlation between Bitcoin and major altcoins is weakening. He explained, "The performance correlation between altcoins and Bitcoin has significantly decreased. A lower correlation means that altcoins now have a greater likelihood of achieving excess returns or outperforming Bitcoin compared to before the U.S. elections."

According to ChainCatcher news, monitored by on-chain analyst Yu Jin, an address suspected to belong to Continue Capital was marked by Arkham and lost 15,079 fwDETH (worth $35.98 million) due to phishing 7 hours ago.Subsequently, the phishing perpetrator quickly converted the stolen assets into safe assets by swapping DETH back to ETH. However, due to insufficient liquidity in the DETH pool, only 2,288 ETH was received in exchange for 14,079 DETH. The pool was completely drained, leading to a significant decoupling of DETH/WETH.The value of the stolen assets directly shrank by 85%: from $35.98 million to $5.5 million.

ChainCatcher news, according to a report from the People's Political Consultative Conference website, China News Service disclosed through Taiwanese media that a couple with the surname Li in Taichung is suspected of laundering money for multiple gambling groups, with the amount involved exceeding 1.6 billion New Taiwan dollars. The entire case has recently been prosecuted for money laundering and other crimes.Last September, the police uncovered a gambling operation disguised as an advertising company. An analysis of the seized evidence revealed that a 30-year-old man with the surname Li and his wife are suspected of laundering money for about seven gambling groups. Over the course of more than a year, the money laundering operation, under the guise of "high salary, easy work, no experience required," recruited members around the age of 20 and dispersed them to hide. They communicated daily through messaging apps to launder money, creating investigative breakpoints, and used virtual currency to quickly transfer illegal profits.The police revealed that they have currently transferred Li and others to the Taichung District Prosecutor's Office for investigation based on violations of the "Organized Crime Prevention Act" and gambling-related crimes, and have seized properties, including houses owned by the Li couple, totaling over 73.2 million New Taiwan dollars in illegal profits.

ChainCatcher news, Hong Kong digital coupon platform Mezzofy announced the completion of a $2 million Pre-A round financing, led by Isola Capital's fund IPVF VII, with participation from Ooosh Tech Lab and the Hong Kong government's Innovation and Technology Venture Fund (ITVF). The company stated that it will use the funds to support the accelerated launch of Web3 products and plans to utilize big data, artificial intelligence, and blockchain technology to make each digital coupon serialized and traceable.

ChainCatcher news, according to crypto KOL Wazz on the X platform, ETH has started to experience inflation in the past few weeks following the Dencun upgrade.The total number of transactions on the Ethereum mainnet has reached a new high, while the median transaction fee is close to historical lows, suggesting that the two have decoupled, indicating that Ethereum's scalability is now much higher.

ChainCatcher news, analysts from the data company CryptoQuant stated that the Dencun upgrade has made Ethereum inflationary again, which may undermine its low-inflation currency characteristics. Due to the Dencun upgrade, the amount of Ethereum burned has fallen to one of the lowest levels since the merge, when Ethereum transitioned from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism, and the supply of Ethereum is growing at the fastest daily rate since the network merge.CryptoQuant analysts noted that prior to the Dencun upgrade, higher network activity on Ethereum meant higher burning fees, resulting in a lower supply of Ethereum. However, after the Dencun upgrade, the total burning fees have decoupled from network activity.The report concludes that at the current rate of network activity, Ethereum is unlikely to experience deflation again, or it will require higher network activity to revive.

ChainCatcher news, according to Cointelegraph, a Paxos spokesperson stated that the recent decoupling of the stablecoin USDP was due to issues with pricing aggregators, rather than the protocol itself. These platforms obtain pricing data from trading platforms. Yesterday, the USDP price on certain trading platforms experienced significant fluctuations, affecting the price of USDP on pricing aggregators. Paxos does not control the market or trading activities of other trading platforms.

ChainCatcher news, Avalanche announced that Alipay has ordered the "Alipay+ D-store" solution and its partner e-wallet.It is reported that the Web3 coupons being used in this collaboration are supported by the Avalanche subnet and MUADAO, aiming to allow brands like Alipay to experience solutions powered by Web3 technology. The initiative is a two-step proof of concept (POC).The interactive mini-games and innovative NFT assets in the project are designed, developed, and supported for issuance by MUA DAO, which is an invested company of Avalanche. Users who participate in the mini-games and obtain MUA NFTs can showcase them on major metaverse platforms such as Decentraland, Molecule, and other platforms supporting MUAverse.Last year, MUA DAO also created an immersive metaverse experience for the Hong Kong government's Fintech Week, as part of its broader Cloudverse collaboration plan with AlibabaCloud. In the next phase, the three parties will focus on expanding Web2 merchants, targeting to cover over 100 million users in Southeast Asia.

ChainCatcher news, Bitget launches the Double Twelve financial management interest rate increase event, which is exclusively for new users. The event runs from December 8, 2023, 17:00 to January 8, 2024, 17:00 (UTC+8). Users can sign up on the event page to participate. The event includes new user registration, new users for financial management products, first-time subscription for structured financial management, inviting friends, and more, with a maximum of 66% APR interest rate increase vouchers and 2x returns on financial management.

ChainCatcher news, Cobo's institutional-grade DeFi investment management platform Cobo Argus has integrated Chainlink Price Feeds on the Arbitrum mainnet. Through this integration, Cobo Argus accesses reliable and tamper-proof price information provided by the decentralized oracle network Chainlink, enabling users to instantly withdraw funds when tokens decouple, preventing losses due to price fluctuations. In the GMX protocol supported by Cobo Argus, the withdrawal bot obtains real-time highly reliable prices through Chainlink, such as DAI, FRAX, USDC, USDT, and WBTC. Once a decoupling occurs, the bot will automatically execute token swaps or predefined on-chain operations to avoid fund losses. Cobo Argus is built on Safe{Wallet}, providing role-based on-chain access control, fine-grained risk management at the functional and parameter levels, and supporting advanced features with DeFi bots.