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&nbsp;Hong Kong Securities and Futures Commission officially announced today that "R-Coin Wallet/R-Wallet/Ju Man Jin" has been included in the suspicious virtual asset trading platform warning list. The Hong Kong SFC stated that the entity claiming to operate a virtual asset trading platform is suspected of engaging in virtual asset-related fraudulent activities. In addition, the entity falsely claims to be a virtual asset trading platform licensed by the Hong Kong SFC and has misappropriated the central entity number of a licensed virtual asset trading platform, but the entity has no connection with the relevant licensed virtual asset trading platform.

[The Hong Kong Securities and Futures Commission (SFC) has added "R-Coin Wallet/R-Wallet/Jumanjin" to its list of suspicious virtual asset trading platforms.]&nbsp;Hong Kong Securities and Futures Commission officially announced today that "R-Coin Wallet/R-Wallet/Ju Man Jin" has been included in the suspicious virtual asset trading platform warning list. The Hong Kong SFC stated that the entity claiming to operate a virtual asset trading platform is suspected of engaging in virtual asset-related fraudulent activities. In addition, the entity falsely claims to be a virtual asset trading platform licensed by the Hong Kong SFC and has misappropriated the central entity number of a licensed virtual asset trading platform, but the entity has no connection with the relevant licensed virtual asset trading platform.

The Hong Kong Securities and Futures Commission (SFC) has added "R-Coin Wallet/R-Wallet/Jumanjin" to its list of suspicious virtual asset trading platforms.

&nbsp;Bloomberg Dollar Spot Index has reached its weakest level since March 2022.

[The Bloomberg Dollar Spot Index hit its lowest level since March 2022.]&nbsp;Bloomberg Dollar Spot Index has reached its weakest level since March 2022.

The Bloomberg Dollar Spot Index hit its lowest level since March 2022.

&nbsp;currently, the exchange rate between Bitcoin and silver is about 780. This level is already below the peak when Bitcoin reached $20,000 in 2017, and close to the level in November 2022, when the ratio dropped to about 700, and Bitcoin also bottomed near $15,500. This renewed convergence of the ratio suggests that silver relative to Bitcoin may be entering a more vulnerable phase. Historically, silver's cyclical tops tend to concentrate in the early part of the year, mostly occurring in the first half. This historical pattern poses a potential risk signal for the current silver price trend. If history repeats itself, silver may have already reached the high point of this cycle, and it is even possible that it has peaked.

[The Bitcoin-silver exchange rate is approaching levels seen in November 2022, and silver may have already reached the peak of this cycle.]&nbsp;currently, the exchange rate between Bitcoin and silver is about 780. This level is already below the peak when Bitcoin reached $20,000 in 2017, and close to the level in November 2022, when the ratio dropped to about 700, and Bitcoin also bottomed near $15,500. This renewed convergence of the ratio suggests that silver relative to Bitcoin may be entering a more vulnerable phase. Historically, silver's cyclical tops tend to concentrate in the early part of the year, mostly occurring in the first half. This historical pattern poses a potential risk signal for the current silver price trend. If history repeats itself, silver may have already reached the high point of this cycle, and it is even possible that it has peaked.

The Bitcoin-silver exchange rate is approaching levels seen in November 2022, and silver may have already reached the peak of this cycle.

Arizona State Senate Finance Committee passed the SB 1044 bill along with the SCR 1003 joint resolution by a vote of 4 to 3. The series of proposals was introduced by Wendy Rogers and aims to exempt virtual currency from property tax. If the proposals are approved, SCR 1003 will allow voters to decide in the November election whether to amend the state constitution to formally establish this tax exemption policy. The SB 1044 bill proposes to amend state law to define virtual currency as a digital representation that serves as a medium of exchange, a unit of account, and a store of value, and is not U.S. dollars or foreign currency. Although Governor Katie Hobbs vetoed multiple crypto asset-related bills in 2025, including SB 1025 to establish a Bitcoin strategic reserve and SB 1024 to allow tax payments using crypto assets, the current tax exemption proposal has been forwarded to the Senate Rules Committee for further review.

[Arizona legislature advances proposal to exempt crypto assets from property tax]Arizona State Senate Finance Committee passed the SB 1044 bill along with the SCR 1003 joint resolution by a vote of 4 to 3. The series of proposals was introduced by Wendy Rogers and aims to exempt virtual currency from property tax. If the proposals are approved, SCR 1003 will allow voters to decide in the November election whether to amend the state constitution to formally establish this tax exemption policy. The SB 1044 bill proposes to amend state law to define virtual currency as a digital representation that serves as a medium of exchange, a unit of account, and a store of value, and is not U.S. dollars or foreign currency. Although Governor Katie Hobbs vetoed multiple crypto asset-related bills in 2025, including SB 1025 to establish a Bitcoin strategic reserve and SB 1024 to allow tax payments using crypto assets, the current tax exemption proposal has been forwarded to the Senate Rules Committee for further review.

Arizona legislature advances proposal to exempt crypto assets from property tax

Standard Chartered analysts stated in a report that stablecoins pose a real risk to global and U.S. bank deposits. Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered, pointed out in the report that the delay of the U.S. CLARITY Act serves as a reminder of the risks stablecoins pose to banks. Geoff Kendrick estimates that U.S. bank deposits will decrease as the market value of stablecoins grows, with the reduction roughly proportional to the market value of stablecoins. Regional banks in the U.S. are the most affected, while investment banks are the least affected. The report shows that only 0.02% and 14.5% of Tether and Circle’s reserves, respectively, are bank deposits, indicating a very low re-deposit ratio.

[Standard Chartered Bank: Stablecoins pose a real threat to bank deposits]Standard Chartered analysts stated in a report that stablecoins pose a real risk to global and U.S. bank deposits. Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered, pointed out in the report that the delay of the U.S. CLARITY Act serves as a reminder of the risks stablecoins pose to banks. Geoff Kendrick estimates that U.S. bank deposits will decrease as the market value of stablecoins grows, with the reduction roughly proportional to the market value of stablecoins. Regional banks in the U.S. are the most affected, while investment banks are the least affected. The report shows that only 0.02% and 14.5% of Tether and Circle’s reserves, respectively, are bank deposits, indicating a very low re-deposit ratio.

Standard Chartered Bank: Stablecoins pose a real threat to bank deposits

Ethereum Foundation ecosystem support project team has announced the list of funded projects and individuals for the fourth quarter of 2025. The amount of funding granted in the previous quarter reached $7,385,528.84. The projects and individuals receiving funding mainly involve the following areas: protocol growth and support, overall growth and support, developer experience and tools, execution layer, cryptography and zero-knowledge proofs, consensus layer, community and education, and others.

[The Ethereum Foundation has released a detailed list of its Q4 2025 grants, awarding nearly $7.4 million in funding.]Ethereum Foundation ecosystem support project team has announced the list of funded projects and individuals for the fourth quarter of 2025. The amount of funding granted in the previous quarter reached $7,385,528.84. The projects and individuals receiving funding mainly involve the following areas: protocol growth and support, overall growth and support, developer experience and tools, execution layer, cryptography and zero-knowledge proofs, consensus layer, community and education, and others.

The Ethereum Foundation has released a detailed list of its Q4 2025 grants, awarding nearly $7.4 million in funding.

brev Surges 10.56% in 24H, Currently at 0.2271 USDT

【brev currently trades at 0.2271 USDT, up 10.56% in 24h, according to HTX market data.】brev Surges 10.56% in 24H, Currently at 0.2271 USDT

brev currently trades at 0.2271 USDT, up 10.56% in 24h, according to HTX market data.

&nbsp;Hong Kong Securities and Futures Commission and the United Arab Emirates (UAE) Securities and Commodities Authority signed a memorandum of understanding today to strengthen cross-border regulatory cooperation on digital asset-related matters. This landmark memorandum of understanding is the first agreement signed between the Hong Kong Securities and Futures Commission and overseas regulators on regulatory cooperation for regulated digital asset entities. The memorandum establishes a framework to enhance regulatory cooperation, including mutual consultation and information exchange on the regulation of cross-border regulated digital asset entities, fully reflecting the Commission's commitment to promoting international cooperation according to its ASPIRe roadmap.

[The Hong Kong Securities and Futures Commission (SFC) and the UAE Capital Markets Authority (UAE) signed a Memorandum of Understanding to strengthen cross-border digital asset cooperation.]&nbsp;Hong Kong Securities and Futures Commission and the United Arab Emirates (UAE) Securities and Commodities Authority signed a memorandum of understanding today to strengthen cross-border regulatory cooperation on digital asset-related matters. This landmark memorandum of understanding is the first agreement signed between the Hong Kong Securities and Futures Commission and overseas regulators on regulatory cooperation for regulated digital asset entities. The memorandum establishes a framework to enhance regulatory cooperation, including mutual consultation and information exchange on the regulation of cross-border regulated digital asset entities, fully reflecting the Commission's commitment to promoting international cooperation according to its ASPIRe roadmap.

The Hong Kong Securities and Futures Commission (SFC) and the UAE Capital Markets Authority (UAE) signed a Memorandum of Understanding to strengthen cross-border digital asset cooperation.

Wintermute stated today that the current BTC price range shows signs of fatigue, but the market structure is not bearish; rather, it is stuck in a stalemate. The $85,000 support level has been tested multiple times and is either a solid bottom or a trap waiting to explode. Despite net outflows of US funds and continued compression of volatility, this support level still holds, indicating buying pressure below (albeit mild). Gold is playing the role that Bitcoin should be playing. The stock market is waiting for earnings reports to verify valuation rationality. Bitcoin is stuck in a "no man's land" — neither weak enough to break support nor strong enough to regain upward momentum. The macro environment is primed for a trending market, but the crypto market has yet to follow suit.

[Wintermute: $85,000 becomes a key level for BTC; the market may choose a direction soon.]Wintermute stated today that the current BTC price range shows signs of fatigue, but the market structure is not bearish; rather, it is stuck in a stalemate. The $85,000 support level has been tested multiple times and is either a solid bottom or a trap waiting to explode. Despite net outflows of US funds and continued compression of volatility, this support level still holds, indicating buying pressure below (albeit mild). Gold is playing the role that Bitcoin should be playing. The stock market is waiting for earnings reports to verify valuation rationality. Bitcoin is stuck in a "no man's land" — neither weak enough to break support nor strong enough to regain upward momentum. The macro environment is primed for a trending market, but the crypto market has yet to follow suit.

Wintermute: $85,000 becomes a key level for BTC; the market may choose a direction soon.

In response to pNetwork's statement on the GALA incident today, Huobi Global's reply on what actually happened is as follows:

We think that pNetwork's action is not a "white hat" operation, but a malicious hack driven by profit and bad faith.

We have 3 reasons to back our argument and we have sorted out the key event timeline relevant to Huobi Global, you can click the Detail to read them.

To sum up, we have reason to believe that:

pNetwork's action is not a "white hat" operation, but a malicious hack with profit as its the ultimate goal. We believe that this is a premeditated attack planned by the pNetwork team, and the white hat operation is just an illegal excuse sought by the pNetwork team to avoid legal consequences.

In its dealing with this incident, Gala and pNetwork teams never tried to reach Huobi Global via official communication channels to confirm the security and feasibility of their plans. Rather, they acted in bad faith and abused their management permission on BNB Chain by minting over 55.6 billion GALA tokens for profitable sell-offs.

The GALA and pNetwork teams could have used other safer method to fix the vulnerability and avoid this unfortunate incident from happening. However, they chose to cover up the facts and executed a massive attack involving 55.6 billion GALA tokens within 50 minutes after contacting the exchanges. This is a malicious attack motivated by profit and is tantamous to a terrorist attack on innocent users and platforms. The entire industry has suffered a huge blow because of this incident.

Not long before, on behalf of our users victimized by pNetwork's actions, Huobi Global communicated and negotiated with the pNetwork team in good faith for reasonable compensation to the victims. However, we did not receive an acceptable response from pNetwork as of the time this statement is published.

In view of pNetwork's unconfirmed unilateral statement on the GALA incident that seriously deviates from the facts, it shows how the project team is attempting to shirk responsibilities, while causing significant damage to the asset security of Huobi Global users. As the world's leading virtual asset trading platform, protecting our users' interests and safeguarding asset security have always been the core responsibility of Huobi Global since our establishment nine years ago. To fulfil our commitment to our users, we will take the lead in gathering and representing the victims of Huobi Global, and we will work with global partners to exercise all legal means, including class actions and lodging police reports, to investigate and pursue criminal charges against the perpetuators from pNetwork.

We urge all attackers who exploited the security vulnerability to return the unjustified gains. Huobi Global is willing to pay the attackers from our $1 million bounty fund and not pursue any legal action against them. Lastly, we would like to reiterate that Huobi Global always stand by our users, and we will not stop until all of our users' reasonable demands are satisfied.

Detail

【Huobi Global's Statement on the Facts Regarding the GALA Incident】In response to pNetwork's statement on the GALA incident today, Huobi Global's reply on what actually happened is as follows:

We think that pNetwork's action is not a "white hat" operation, but a malicious hack driven by profit and bad faith.

We have 3 reasons to back our argument and we have sorted out the key event timeline relevant to Huobi Global, you can click the Detail to read them.

To sum up, we have reason to believe that:

pNetwork's action is not a "white hat" operation, but a malicious hack with profit as its the ultimate goal. We believe that this is a premeditated attack planned by the pNetwork team, and the white hat operation is just an illegal excuse sought by the pNetwork team to avoid legal consequences.

In its dealing with this incident, Gala and pNetwork teams never tried to reach Huobi Global via official communication channels to confirm the security and feasibility of their plans. Rather, they acted in bad faith and abused their management permission on BNB Chain by minting over 55.6 billion GALA tokens for profitable sell-offs.

The GALA and pNetwork teams could have used other safer method to fix the vulnerability and avoid this unfortunate incident from happening. However, they chose to cover up the facts and executed a massive attack involving 55.6 billion GALA tokens within 50 minutes after contacting the exchanges. This is a malicious attack motivated by profit and is tantamous to a terrorist attack on innocent users and platforms. The entire industry has suffered a huge blow because of this incident.

Not long before, on behalf of our users victimized by pNetwork's actions, Huobi Global communicated and negotiated with the pNetwork team in good faith for reasonable compensation to the victims. However, we did not receive an acceptable response from pNetwork as of the time this statement is published.

In view of pNetwork's unconfirmed unilateral statement on the GALA incident that seriously deviates from the facts, it shows how the project team is attempting to shirk responsibilities, while causing significant damage to the asset security of Huobi Global users. As the world's leading virtual asset trading platform, protecting our users' interests and safeguarding asset security have always been the core responsibility of Huobi Global since our establishment nine years ago. To fulfil our commitment to our users, we will take the lead in gathering and representing the victims of Huobi Global, and we will work with global partners to exercise all legal means, including class actions and lodging police reports, to investigate and pursue criminal charges against the perpetuators from pNetwork.

We urge all attackers who exploited the security vulnerability to return the unjustified gains. Huobi Global is willing to pay the attackers from our $1 million bounty fund and not pursue any legal action against them. Lastly, we would like to reiterate that Huobi Global always stand by our users, and we will not stop until all of our users' reasonable demands are satisfied.

Huobi Global's Statement on the Facts Regarding the GALA Incident

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Spot silver and New York silver futures both broke through the $111 mark.

Huobi Global's Statement on the Facts Regarding the GALA Incident

Disclaimer：Il contenuto di cui sopra non rappresenta le posizioni di HTX.，HTX non fornisce alcuna raccomandazione di trading.。

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