• Hong Kong has launched a Bitcoin spot ETF, with an expected inflow of about US$500 million. Despite the optimism, the market reaction was not strong, less sensational than the corresponding ETF in the United States. The article explores the importance of southbound funds and believes that the Hong Kong market has great potential compared to the United States, especially in accepting Bitcoin, which is likened to "digital gold". Although Hong Kong currently has a complete regulatory system for virtual assets and the direct redemption mechanism is more favorable to Crypto-native investors, the overall Hong Kong ETF market has limited appeal to large-scale trading investors.

  • Martin Grant, former head of compliance at the Federal Reserve Bank of New York, has joined Binance US’ board of directors. His role will include overseeing financial reporting processes and internal controls. This new appointment reflects the strength of Binance US’s business and demonstrates the company’s commitment to maintaining the highest standards of compliance and integrity.

  • Drift Protocol, a futures exchange based on Solana, announced that it will airdrop 100 million governance tokens DRIFT to eligible DeFi traders. The airdrop is part of its plan to distribute 53% of the total supply to the community, with 10% allocated specifically for this event. The DRIFT token allows users to truly govern the protocol and shape its future, which is expected to make Drift one of the largest derivatives exchanges in the cryptocurrency space.

  • According to PayPal’s new policy, starting May 20, purchases of NFTs will no longer be covered by PayPal’s Buyer Protection Program. In addition, sellers will no longer be protected against false claims and chargebacks for NFT sales valued at more than $10,000. This policy change was announced through an official notification on March 21.

  • Genesis has submitted a revised settlement agreement to reach a global settlement with creditors, including Gemini. The settlement agreement has been submitted to the bankruptcy court and will be reviewed on a non-contested basis at 23:00 Beijing time on April 16.

  • According to on-chain analysis, Amber Group is suspected to have sold another 1 million ARBs worth about $1.13 million an hour ago. Amber transferred $9.43 million worth of ARBs to the address a month ago and recharged it to the exchange several times. Despite this, the address still has 3.1 million tokens.

  • In the past two hours, the multi-signature address of the Ethena project transferred a total of 35.12 million ENA (worth about 35.99 million US dollars) to the three exchanges Gate, Kucoin, and Bybit. The specific purpose is unknown. Previously, before ENA went online for trading on April 1, the address had received 137 million tokens. Currently, the address still holds about 13.11 million ENA, worth about 13.26 million US dollars.

  • Alchemy Pay has announced that it has designated Hong Kong as its key strategic market region. The move is intended to align with Hong Kong’s development strategy as Asia’s next cryptocurrency hub.

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