roundedWelcome to the "Hong Kong Web3 Weekly Highlights" of Techub News. In this week's report, we will summarize significant events and developments in the Hong Kong Web3 sector from December 23 to December 29, along with the latest data insights and detailed event previews, helping you quickly and comprehensively understand last week's progress in Hong Kong's Web3 field. Hot News Hong Kong-listed company Shide Global purchased 23.4 bitcoins in 2021, endorsing the bitcoin reserve strategy of listed companies According to Sing Tao Daily, Ma Haowen, Vice Chairman of Hong Kong-listed company Shide Global, disclosed that the company spent HKD 10.1 million to acquire 23.4 bitcoins in 2021, but these were stored in FTX, which collapsed in 2022, and compensation is still pending. Ma Haowen did not respond to whether the company would purchase bitcoins again in the future but still endorses 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 redemption 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 redemption. The net subscriptions and net redemptions of ethereum's spot ETF were 0. Industry Observation (Financing to buy bitcoin sees stock price rise 20 times, can the wealth code behind MicroStrategy be replicated?) MicroStrategy, a US company known for providing business intelligence and mobile software solutions, has gained attention in recent years for its aggressive investments in the bitcoin market. Since it began purchasing bitcoins in large quantities in 2020, its stock price has risen by about 20 times. On October 30, 2024, MicroStrategy announced its so-called "21/21 plan", which aims to raise USD 21 billion in equity financing and USD 21 billion in bond issuance over the next three years, totaling USD 42 billion to purchase more bitcoins. MicroStrategy's financing and purchasing strategy has not only made it prominent in the cryptocurrency field but has also sparked widespread discussions about its investment strategy, risk management, and future prospects. In this article, lawyer Mankun will decode the wealth code of MicroStrategy's financing and purchasing, analyzing whether an Asian version of MicroStrategy can be recreated from the perspective of Chinese enterprises listed domestically and abroad. (Latest bill on stablecoins in Hong Kong, an innovation catalyst or regulatory shackles?) Stablecoins are often hailed as a bridge between traditional finance and blockchain technology, and have rapidly grown globally. Their 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 maintain a dual objective of innovation and caution in Hong Kong's rapidly evolving stablecoin market. (Grayscale Report: Decoding the crypto bull market cycle, how much longer can the market rise?) Each past price cycle has its unique driving factors, so future price performance will not completely replicate past experiences. Moreover, as bitcoin matures and is accepted by more traditional investors, and as the impact of the halving event every four years on supply gradually weakens, the cyclical fluctuations in bitcoin prices may change or even disappear. Nevertheless, studying past price cycles can still provide references for investors, helping them understand bitcoin's typical statistical characteristics for better risk management. (OKX Ventures Annual Report: 60+ project layouts and 14 major trend forecasts) This year, OKX Ventures has actively increased investments in the industry, dedicated to accelerating innovation and development in the crypto sector. The total investment for the year exceeded USD 100 million, covering over 60 projects and funds, with a focus on innovations and startups in the Solana, SUI, Aptos, TON, and BTC ecosystems, delving into quality projects. From the distribution of investments, infrastructure, AI projects, and the BTC ecosystem account for the highest proportion, while there is also extensive layout in multi-chain ecosystems, DeFi, and various ecological funds. Data Insights Hong Kong Bitcoin & Ethereum Spot ETF Inflows and Outflows According to SoSoValue data, the net redemption amount of Hong Kong's bitcoin spot ETF last week was approximately 405.2 bitcoins, with a total holding value of about USD 410 million, a decrease of approximately USD 79.4 million in holding value; the net subscription and redemption amounts for the ethereum spot ETF were 0, with a total holding value of approximately USD 63.41 million, a decrease of about USD 770,000 in holding value.

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