Author：Lily

Editor：Colin Wu

1. Huobi’s weekly summary

1.1 Justin Sun plans to make Huobi Global the top three in the world link

Justin Sun tweeted that he will concretely land measures to empower HT this week and plans to make Huobi top three globally. After the tweet was posted, HT pulled up from $6.81 to $7.18 with a 5.4 percent increase. As previously reported, Justin Sun is suspected to hold 74 million HT.

1.2 Justin Sun will participate in FTX’s Twitter Space as a “newest advisor to Huobi” link

On October 20, FTX will host a Twitter Space where FTX COO Constance will talk with Justin Sun, the “newest advisor to Huobi”. Previously, there were rumors that SBF supported Justin Sun’s acquisition of Huobi Global, but SBF denied this claim. The future interaction and alliance between FTX and Huobi deserves continued attention.

1.3 Huobi Global launches 0% trading fee campaign for 11 USDD pairs link

Huobi Global has announced that it will introduce a 0% trading fee for trading USDD pairs on Global Spot to reward users between October 19 and December 31, involving 11 pairs such as BTC/USDD and ETH/USDD. USDD is Justin Sun’s wavefield algorithm stable coin with a current supply of $725 million and 24-hour trading volume of $88 million.

2. OKX’s weekly summary

2.1 OKX to list USDT-margined perpetual for APT link

OKX has announced that the USDT-margined perpetual swaps for APT will be officially launched on the web, APP and API at 09:20 (HKT) on October 19, with a leverage ratio of 0.01 to 75x.

2.2 OKX Blockdream Ventures launches $10 million fund to support Aptos ecosystem link

OKX Blockdream Ventures, the investment arm of OKX, today announced the launch of a new $10 million fund to invest in Aptos projects. “We are delighted to partner with Aptos and look forward to working together to empower high-quality projects while supporting their development,” said Dora Yue, Founder of OKX Blockdream Ventures.

3. Do Kwon’s weekly summary

3.1 Do Kwon says South Korean Prosecutors’ charges are unlawful and political link

Terra founder Do Kwon said in an interview with Unchained that South Korean prosecutors’ charges against him are politically motivated and unlawful, and he’s not sure about the other charges he faces, other than the alleged violation of the Capital Markets Act, and hasn’t seen arrests order copy. Do Kwon again said he was not at large, but declined to reveal his whereabouts.

3.2 Retail investors become vigilantes in hunt for Do Kwon link

About 4,400 crypto investors formed the UST Restitution Group to track down Terra founder Do Kwon globally. They said it was very likely that Do Kwon was in Dubai. Interpol had previously issued a red notice against Do Kwon, but investors blame the agency for inefficiency.

4. Interpol to form a team dedicated to fighting crypto-asset crime link

Interpol has formed a specialised team in Singapore to help countries combat crimes involving virtual assets. Interpol Secretary General Jürgen Stock said cryptocurrencies like Bitcoin and Ethereum pose challenges to law enforcement agencies in the absence of a legal framework.

5. Trading volume surges after Azuki releases open-source token standard PBT link

Azuki released the open source token standard PBT (Physical Backed Token) to bind real objects to the Ethereum blockchain. Since the announcement of the news, its single-day trading volume has hit a new high of more than 2 million US dollars (about 1616 ETH), an increase of 569%, ranking first in the OpenSea 24-hour trading volume list; the number of pending orders has increased by 30% within a month, probably because short-term holders chose to sell after profiting from the good news.

6. WazirX founder’s blockchain project Shardeum raises $18 million link

Shardeum, a new Layer 1 blockchain created by Nischal Shetty, founder of encrypted exchange WazirX, closed its $18.2 million seed funding round at a $199 million valuation. Over 50 investors participated in the seed round, including Spartan Group, Big Brain Holdings, Jane Street and Foresight Ventures, according to a company announcement.

7. Hong Kong’s weekly summary

7.1 The Hong Kong Monetary Authority is studying market views on regulating stablecoins link

The Chief Executive of the Hong Kong Special Administrative Region, Li Jiachao, said in his first policy address after taking office that in terms of virtual assets, the government has submitted a bill to propose the introduction of a statutory licensing system for service providers. The Hong Kong Monetary Authority is studying market views on regulating stablecoins and will ensure that the regulatory regime is in line with international regulatory advice and is appropriate for local conditions.

7.2 Spot trading with BitMEX is now accessible in Hong Kong link

On October 19, the derivatives exchange BitMEX announced that its spot trading is available for Hong Kong users, and successful registration can get up to 55 BMEX platform tokens.

7.3 Hong Kong considers direct retail participation in cryptocurrency investment link

Hong Kong is considering allowing retail investors to directly invest in virtual assets. That would mark a shift from the SFC’s stance over the past four years, which limits crypto trading on centralised exchanges to professional investors.

8. KuCoin strengthens the monitoring of the IPs of users in mainland China link

Since October, KuCoin has strengthened the monitoring of the IPs of users in mainland China, and some users received emails saying: “According to IP technical monitoring, it is found that you are currently located in mainland China. Your account will be forcibly frozen in two working days, please withdraw all assets in your KuCoin account as soon as possible.”

9. Japan to further relax crypto rules by easing listings of tokens link

Japan plans to further loosen cryptocurrency rules by making it easier to list virtual coins, potentially burnishing the country’s allure for Binance and rival foreign digital-asset exchanges. The relaxed rule could take effect as early as December. By March 2024, the Japan Virtual and Crypto assets Exchange Association could also scrap pre-screenings for coins new to the nation, as well as for tokens issued through initial coin or exchange offerings.

10. Stephen Chow Announces Web3 Talent Recruitment link

Stephen Chow opened an ins social account and posted a job posting for Web3 talent, requiring familiarity with Web3, project management experience, brains and kindness, and that he would personally pick the person. Previously, Stephen Chow was briefly involved in the NFT project.

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