According to BlockBeats, on October 17, Ethena announced a proposal on its governance platform to integrate Ethena's liquidity and hedging engine into Hyperliquid. The proposal also includes adding USDe to the L1 network upon the launch of the EVM mainnet. Top trader Eugene Ng Ah Sio expressed his surprise at the proposal, noting that the acceptance of USDe by exchanges has been faster than expected. Previously, Hyperliquid only supported trading pairs denominated in USDT. Now, USDe has become the second stablecoin accepted on the largest decentralized derivatives DEX in the crypto space. This development aligns with the long-standing argument for the expansion and integration of USDe on major exchanges.

CMB Wing Lung Bank officially launched the virtual asset exchange traded open index fund (ETF) trading service in the Hong Kong stock market, and became the first Chinese bank in Hong Kong to provide virtual asset ETF trading services. Lin Shufen, assistant general manager of CMB Wing Lung Bank, said that the Hong Kong SAR government is actively promoting the development of an international virtual asset center, which will bring new opportunities for the development of virtual assets in Hong Kong and local banks. (Hong Kong Economic Journal)

Tennessee, U.S., reaches a multi-million dollar settlement with GS Partners involving misleading crypto assets and metaverse investments. Affected investors can submit claims within 90 days starting in November, and are expected to return all deposited funds or cryptocurrencies. According to previous news, several U.S. states have ordered GS Partners to cease operations and accused GS Partners of defrauding investors in multiple cryptocurrency schemes. (News.bitcoin)

“The price is climbing toward the midpoint of this range, but it has not yet established a decisive breakout," one analyst told Decrypt. source: https://decrypt.co/286838/bitcoin-market-dominance-3-year-high

Stablecoin usage in America is not what it used to be, according to Chainalysis. Despite record-breaking crypto activity this year, America is losing its grip on stablecoin transactions. The decline began in February, reversing the upward trend that was consistent until 2023. Stablecoin activity has surged globally, especially in regions with emerging markets. Transactions on […] source: https://www.cryptopolitan.com/america-decline-in-stablecoin-adoption/

The Ethena Foundation has initiated a proposal to integrate Hyperliquid Ethena liquidity with USDe. The proposal states that Hyperliquid L1 is a qualified venue as part of its hedging flow, subject to technical and legal due diligence. If approved, the integration will be implemented gradually and in a controlled manner under the guidance of the Risk Committee. Hyperliquid has more than 200,000 users, with daily trading volume typically ranging from $1 billion to $4 billion and open interest exceeding $1 billion. As of October, Hyperliquid has accounted for 40% of on-chain perpetual contract trading volume.

According to Odaily, Hong Kong Chief Executive John Lee emphasized the importance of integrating the digital economy with the physical economy in his policy address yesterday. Lee highlighted that accelerating the development of the digital economy could expedite industrial digital transformation and enhance digital infrastructure. The government is currently exploring ways to promote a data trading ecosystem and is considering the Greater Bay Area as a pilot region to facilitate cross-border data flow arrangements. In response, Au King-lun, CEO of the Financial Services Development Council, acknowledged the crucial role of fintech in maintaining Hong Kong's global financial leadership. He expressed encouragement over the government's commitment to fully advancing the digital economy. The policy address mentioned support for the development of innovative financial services, virtual assets, and cross-border data solutions, which Au believes can meet the increasingly digital global financial demands. Additionally, the government's focus on the tokenization of real-world assets aligns with the Council's blockchain application initiatives, further strengthening Hong Kong's leadership in fintech innovation.

Xu Xiaozhe, a member of the Chongqing CPPCC, published an article in the Hong Kong Wen Wei Po, saying that the listing of virtual asset ETFs in Hong Kong will help diversify the financial market. He proposed to refer to the market performance of the first six virtual asset ETFs after their listing in Hong Kong. Can we consider introducing more types of virtual currency ETFs and adding ETF products of other mainstream virtual assets on different blockchain platforms to enrich investors' choices? Can the Hong Kong financial market strengthen cooperation with other major financial markets in the world to jointly promote the cross-border transaction volume and quality of virtual asset ETFs? In future development, if Hong Kong can use blockchain technology to improve transaction transparency and security, use artificial intelligence technology for market analysis and risk management, and improve investment efficiency and risk control capabilities. (Hong Kong Wen Wei Po)

Hong Kong Chief Executive John Lee mentioned in his policy address yesterday that he would promote the integrated development of the digital economy and the real economy. John Lee stressed that accelerating the development of the digital economy can accelerate the digital transformation of the industry and strengthen digital infrastructure. The government is studying the promotion of the data trading ecosystem and exploring the arrangement of convenient cross-border data flow with the Greater Bay Area as a pilot. Hong Kong Financial Services Authority Chief Executive Officer Au King-lun responded yesterday that the role of financial technology in maintaining Hong Kong's leading position in global finance cannot be ignored, and he is encouraged by the SAR government's commitment to comprehensively promoting the digital economy. The policy address mentioned supporting the development of innovative financial services, virtual assets and cross-border data solutions, and believed that it could meet the increasingly digital global financial needs. At the same time, "the government's emphasis on the tokenization of real-world assets is consistent with the Financial Services Authority's blockchain application initiative, further strengthening Hong Kong's leadership in financial technology innovation." (Hong Kong Wen Wei Po)