roundedWelcome to Techub News' "Hong Kong Web3 Weekly Highlights." In this week's report, we will summarize the significant events and developments in Hong Kong's Web3 sector during the period from December 23 to December 29, along with the latest data insights and detailed event previews to help you quickly and comprehensively understand last week's progress in Hong Kong's Web3 field. Hot Topics: Hong Kong-listed company Shide Global purchased 23.4 bitcoins in 2021, affirming the Bitcoin reserve strategy of listed companies. According to the Sing Tao Daily, the vice chairman of Hong Kong-listed company Shide Global, Ma Haowen, disclosed that the company spent 10.1 million HKD to purchase 23.4 bitcoins in 2021, but they were stored in the now-defunct FTX in 2022 and are still pending compensation. Ma Haowen did not respond to whether the company would buy bitcoins again in the future but still affirms the strategy of listed companies holding cryptocurrencies... On December 23, the net redemption amount of Hong Kong's Bitcoin spot ETF was 333.69 bitcoins, marking three consecutive trading days of net redemptions. According to iChainfo data, on December 23, the net redemption amount of Hong Kong's Bitcoin spot ETF was 333.69 bitcoins, marking three consecutive trading days of net redemptions. The net subscription and net redemption amount of Ethereum's spot ETF was 0. Industry Observations: (Financing to buy Bitcoin saw stock prices rise 20 times; can the wealth code behind MicroStrategy be replicated?) MicroStrategy, an American company known for providing business intelligence and mobile software solutions, has gained attention in recent years due to its aggressive investment in the Bitcoin market. Since it started purchasing large amounts of Bitcoin in 2020, its stock price has risen about 20 times. On October 30, 2024, MicroStrategy announced its so-called "21/21 plan," aiming to raise $21 billion in equity financing and $21 billion in bond issuance over the next three years to collect a total of $42 billion to buy more bitcoins. MicroStrategy's financing strategy for purchasing bitcoins has not only made it well-known in the cryptocurrency field but also sparked extensive discussions in the market about its investment strategy, risk management, and future prospects. In this article, attorney Mankun will break down the wealth code of MicroStrategy's financing strategy and analyze from the perspective of mainland and overseas listed companies whether it can recreate an Asian version of MicroStrategy. (Hong Kong's latest stablecoin legislation: a catalyst for innovation or a regulatory shackles?) Stablecoins are often hailed as a bridge between traditional finance and blockchain technology, experiencing rapid growth globally. Their provision of price stability and potential applications in payments, remittances, and decentralized finance have driven their widespread adoption. However, the lack of comprehensive regulation has exposed the vulnerabilities of stablecoins, from systemic risks to consumer protection issues, forcing policymakers to take action. The proposed legislation aims to seek a delicate balance: promoting the growth of the Web3 economy while ensuring financial stability and protecting public trust. But can it successfully achieve this goal? This article will delve into whether the framework can align with Hong Kong's dual objectives of innovation and caution in the rapidly evolving stablecoin market. (Grayscale Report: Decoding the cryptocurrency bull market cycle; how much longer can the market rise?) Each past price cycle has its unique driving factors, so future price performance may not replicate past experiences entirely. Furthermore, as Bitcoin matures and is accepted by more traditional investors, the impact of the halving event that occurs every four years on supply is gradually diminishing, which may alter or even eliminate the cyclical volatility of Bitcoin prices. Nevertheless, studying past price cycles can still provide investors with references to help them understand the typical statistical characteristics of Bitcoin and better manage risks. (OKX Ventures Annual Report: 60+ project layouts and 14 major trend forecasts) This year, OKX Ventures has actively increased its investment in the industry, committed to accelerating innovation and development in the cryptocurrency sector. The total investment amount throughout the year exceeded 100 million USD, covering more than 60 projects and funds, focusing on innovations and entrepreneurship in the Solana, SUI, Aptos, TON, and BTC ecosystems, deeply exploring high-quality projects. In terms of investment distribution, infrastructure, AI projects, and the BTC ecosystem accounted for the highest proportion, while there is also broad coverage in multi-chain ecosystems, DeFi, and various ecological funds. Data Insights: Hong Kong's Bitcoin & Ethereum spot ETF inflow and outflow situation. According to SoSoValue data statistics, last week, the net redemption amount of Hong Kong's Bitcoin spot ETF was approximately 405.2 bitcoins, with a total holding value of about 410 million USD, a decrease of about 79.4 million USD in holding value; the net subscription and net redemption amount of Ethereum's spot ETF was 0, with a total holding value of about 63.41 million USD, a decrease of about 770,000 USD in holding value. 

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