Crypto Morning Brief: BTC drops below $100,000 this morning, Standard Chartered to launch BTC and ETH custody services in Hong Kong
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Crypto Morning Brief: BTC drops below $100,000 this morning, Standard Chartered to launch BTC and ETH custody services in Hong Kong
AlphaTON Capita establishes a joint venture to launch the TON Card cryptocurrency payment card project.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
BTC drops below $100,000 this morning, ETH loses $3,100 level
HTX market data shows BTC dropped below the $100,000 mark this morning, currently trading at $101,233; ETH has fallen below $3,100, now at $3,276.
Franklin Templeton updates XRP ETF filing, plans launch this month
Bloomberg analyst James Seyffart tweeted that Franklin Templeton has submitted an updated S-1 registration form for its XRP ETF, using standard language allowing automatic effectiveness under Section 8(a) of the Securities Act of 1933, and plans to launch the product within this month.
UnifAI reveals tokenomics model: total supply of 1 billion tokens, 13.33% allocated to ecosystem and community
UnifAI has released the tokenomics model for UAI: a total supply of 1 billion UAI tokens deployed on the BSC chain. The token allocation is as follows:
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20% allocated to protocol development,
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20.75% to foundation and treasury,
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18.57% to marketing,
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15% to team and advisors,
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13.33% to ecosystem and community,
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7% to liquidity,
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5.35% to investors.
UAI token functions include service access payments, governance voting, staking and reputation systems, and revenue sharing. The token will serve as the economic backbone of the UnifAI network, driving collaboration, governance, and growth in autonomous AI agent networks.
Earlier news: Binance Alpha and Futures will list UnifAI (UAI).
Jupiter community voting approves proposal to burn 130 million JUP tokens in "Litterbox", about 4% of circulating supply
Jupiter DAO voting page shows the Jupiter community has approved the "Burning the Litterbox" governance proposal, which aims to burn approximately 130 million JUP tokens currently held in the "Litterbox Trust," representing about 4% of the circulating supply.
Curve Finance proposes security enhancement mechanism for crvUSD
Curve Finance officially issued a proposal today (November 5) suggesting adding Emergency DAO multi-sig support roles for crvUSD and LlamaLend to enhance security. This comes amid efforts by crvUSD to diversify its backing assets through partnerships with yieldbasis and ResupplyFi and plans for expansion.
Stream Finance: $93 million loss, suspends deposits and withdrawals
Stream Finance announced that its external fund manager disclosed a loss of approximately $93 million in fund assets yesterday. The company has engaged Keith Miller and Joseph Cutler from law firm Perkins Coie LLP to lead a full investigation. In response to the crisis, Stream is actively withdrawing all liquid assets and has suspended all deposit and withdrawal services until a comprehensive assessment of the loss scope and causes is completed.
Earlier news: According to PeckShield monitoring, Staked Stream USD ($XUSD) has depegged from the dollar, dropping around 23%.
AlphaTON Capital forms joint venture to launch TON Card crypto payment card project
According to Globenewswire, Nasdaq-listed TON treasury company AlphaTON Capital announced it will establish a joint venture to develop and launch the TON Card cryptocurrency payment card project, enabling holders to directly use cryptocurrencies such as TON and USD1 via digital wallets from ALT5 Sigma and World Liberty Financial. The payment card is expected to be supported on the Mastercard network.
Standard Chartered: To launch Bitcoin and Ethereum custody services in Hong Kong next year
According to Hong Kong media Ming Pao, Selena Ling, CEO of Standard Chartered Hong Kong and Greater China & North Asia, stated that Standard Chartered welcomes the HKMA’s announcement of "Fintech 2030," coinciding with "Hong Kong Fintech Week." The bank plans to introduce innovative digital asset solutions in Hong Kong next year, including digital asset custody services supporting the two largest cryptocurrencies by market cap—Bitcoin and Ethereum—as well as strategic partnership initiatives with other institutions.
Standard Chartered Hong Kong noted it intends to launch Bitcoin and Ethereum digital asset custody services in Hong Kong in January next year, expanding existing services already available in Luxembourg and the UAE (via Dubai International Financial Centre).
Standard Chartered Hong Kong mentioned it has been actively supporting various innovation projects to promote a comprehensive digital asset ecosystem in Hong Kong, covering retail and corporate clients, local and cross-border transactions, and participating in multiple HKMA-led pilot innovation programs such as Ensemble, mBridge, "Digital Hong Kong Dollar" pilot program, GenA.I. sandbox, and Distributed Ledger Technology Regulatory Incubator.
Hong Kong police freeze assets worth HK$2.75 billion linked to cross-border telecom fraud group involving "Crown Group" Chen Zhi
According to Hong Kong media Aastocks, Hong Kong police have conducted a financial investigation into a suspected international cross-border telecom fraud and money laundering syndicate. As of today, they have frozen approximately HK$2.75 billion in assets. It is understood that Chen Zhi, founder of Cambodia's Crown Group, is involved.
Hong Kong police said, after collecting intelligence and information from multiple sources and conducting in-depth analysis of fund flows related to companies and bank accounts associated with the group, they found indications that the group is suspected of money laundering offenses. Frozen assets include cash, stocks, and funds owned by individuals or companies, believed to represent proceeds of crime. The Joint Financial Intelligence Unit of the Hong Kong Police Force is actively investigating the case; no arrests have been made so far.
U.S.-listed BTC treasury company Sequans confirms sale of 970 bitcoins to reduce debt
According to Investing.com, U.S.-listed semiconductor company Sequans Communications (NYSE: SQNS) redeemed 50% of its convertible bonds by selling 970 bitcoins. This transaction reduced the company's total debt from $189 million to $94.5 million.
Sequans now holds 2,264 bitcoins, down from the previous 3,234. At current market prices, the company's net bitcoin asset value is approximately $240 million, reducing the debt-to-net-asset-value ratio from 55% to 39%.
CEO Georges Karam stated: "Our strategy of allocating assets to bitcoin and our strong belief in bitcoin remain unchanged. This transaction was a tactical decision based on current market conditions aimed at unlocking shareholder value."
The debt reduction is expected to strengthen the company's previously announced ADS buyback program. Sequans focuses on wireless 4G/5G cellular technology for the Internet of Things and earlier this year announced adopting bitcoin as a primary asset allocation.
MARA Holdings reports $123 million profit in Q3, currently holding 53,250 BTC
According to The Block, Nasdaq-listed crypto miner MARA Holdings Inc (ticker: MARA) released its third-quarter earnings report, recording a record $123 million profit with revenue reaching $252 million, reversing a $125 million loss during the same period last year.
The company mined 2,144 bitcoins in Q3 and currently holds 53,250 BTC, valued at nearly $5.6 billion.
Market Data
Suggested Reading
A ghost story: Even Koreans aren't speculating much on crypto anymore
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Balancer hack aftermath continues, how does Stream's xUSD depeg affect your assets?
This article mainly analyzes recent major events in the DeFi protocol space, including the ripple effects from the Balancer hack and the depegging issue of Stream Finance's stablecoin xUSD. It details the causes, impact scope, and potential broader risks, revealing the profound influence of high-leverage models and market panic sentiment on the DeFi ecosystem.
That summer, I made $50 million sniping altcoins on DEXs
This article tells the detailed story of two brothers who earned substantial wealth by sniping altcoins on decentralized exchanges (DEXs). From initial investment attempts to ultimately accumulating millions of dollars in assets, they achieved significant success across multiple blockchain ecosystems through technological innovation, strategic optimization, and deep market research.
Neobank Yearbook: A quick guide to the current state of Neobanks
This article provides a comprehensive overview of the current state of neobanks and their role in the digital economy, focusing on several blockchain-based neobank platforms, their core features, fee structures, and application scopes. By integrating cryptocurrency with traditional financial services, these neobanks offer greater flexibility, security, and yields, emerging as operational layers in the digital economy.
In November's crypto market, what opportunities can still help you “have a good year”?
This article discusses how the crypto market in November is experiencing a "rotation season," emphasizing the importance of precise capital allocation and attention to trending ecosystems. The market is shifting from large-cap assets to emerging areas such as Layer-2, artificial intelligence, and infofi. Meanwhile, presales and meme coins have become key to short-term profits, and the NFT market is transitioning from hype-driven to utility and financial integration. InfoFi leads a new trend in creator economies through a "proof-of-knowledge" model, while economic systems related to AI and robotics are forming, enabling automated machine-to-machine payments and transactions.
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