According to Wu, a cryptocurrency ATM appeared at the entrance of a hotel at the Hong Kong Web3 Conference. The founders of important protocols such as Starkware and EigenLayer also attended the conference. There were as many as 11 Bitcoin-related activities at the conference, mainly involving Bitcoin L2. It is worth noting that the two ecosystems of Berachain and Ton appeared in Hong Kong, which attracted people's attention. In addition, DePIN attracted much attention at the conference because the manufacturing industry is concentrated in Shenzhen. The large number of KOLs in Hong Kong has triggered discussions on whether KOLs are more important than VCs.