On January 5th, the Economic Daily wrote an article "Strict Characters to Cure and Manipulate the Market". The article pointed out that market supervision, communication management, financial supervision, public security and other departments should strengthen data connectivity and sharing, strengthen governance in key areas, and unblock the connection of punishment and execution. At the same time, make good use of big data, cloud computing, blockchain and other Internet technology means to accu...
On June 19, 2024, the Securities Supervision Commission issued the "Eight Measures on Deepening the Reform of the Science and Technology Innovation Board to Serve Scientific and Technological Innovation and the Development of New Quality Productive Forces", which proposed to carry out the pilot program of deepening the issuance and underwriting system. In the pilot program of the Science and Technology Innovation Board, the offline investment institutions with a higher lock-up ratio and a longer...
HC Wainwright, a US investment bank, wrote this week that the price of bitcoin is expected to reach $225,000 per coin by the end of 2025, which means that the market value of bitcoin will reach $4.50 trillion, accounting for about 25% of the market value of gold. HC Wainwright also expects the total market value of bitcoin mining companies to exceed $100 billion. It is reported that the investment bank lists MARA, RIOT and CLSK as "pure mining companies" and CORZ, BTDR, WULF, Hut 8, IREN, BTBT a...
Wu Jinduo, a doctor of economics, wrote in the Hong Kong media Ta Kung Pao that the measurement of the value of cryptocurrencies is still measured by the US dollar. As a means of payment that is different from the traditional decentralized means, it is a supplement to the traditional fiat payment function. From this perspective, cryptocurrencies have some of the monetary attributes and characteristics of the US dollar.
Federal Reserve Speaker Nick Timiraos wrote that Fed members discussed the possibility of slowing or pausing interest rate cuts at their meeting earlier this month if progress on reducing inflation stalled. According to Fed meeting notes released on Tuesday, officials believe that if the economy performs in line with their expectations, inflation will continue to decline steadily...
A report authored by Matthew Sigel, head of digital asset research at VanEck, assesses the Central American country's experience with bitcoin and its positive impact. The report notes that nearly 8% of Salvadorans will use bitcoin for transactions in 2024, a "meaningful step" for a country that has traditionally had a low adoption of electronic payments, in addition to the country's bitcoin reserves already accounting for 1.6% of GDP. VanEck's analysis suggests that, given Trump's strong support...
LinkedIn co-founder Reid Hoffman has warned in an article in the Financial Times that Elon Musk's role as an adviser to Trump in his second term could create a conflict of interest in AI policy. Hoffman pointed out that Musk, as the founder of xAI, or using his role to influence policy, favors xAI to obtain government contracts or restrict competition. He stressed that this will harm US technological innovation and economic security. In addition, Hoffman called on the Trump administration to aba...
The Hong Kong Association of Banks wrote an article in the Hong Kong media Ta Kung Pao, "Digital Banks Join the Web 3.0 Wave", revealing that Hong Kong digital banks have completed more than 100 "fintech regulatory sandbox" tests through the HKMA in the past four years, accounting for more than 40% of the total sandbox test cases. In addition, individual Hong Kong digital banks have begun to provide reserve banking services for stablecoin issuers, and some digital banks have the ability to act a...
Sarah House and Aubrey Woessner of Wells Fargo have written that inflation in the United States is likely to remain above the Federal Reserve's 2% target for now. The Consumer Price Index for October, to be released next week, "may show that progress in removing that last bit of inflation is still frustratingly slow". They forecast overall CPI growth of 0.2% in October, the same as September's increase, taking the annual rate from 2.4% to 2.5%. Core CPI is expected to rise 0.3% for the third str...
On October 26th, according to Forbes, Tesla recently transferred its bitcoin holdings to a new wallet, which is also the company's first asset transfer in more than two years. Usually, such on-chain movements are a sign of selling, but so far there has been no movement of any exchanges, so it may just be Tesla's readjustment of its bitcoin custody settings. Analysts believe that bitcoin is on Tesla's balance sheet...
Fu Rao, executive director of the Hong Kong International New Economics Research Institute, wrote an article in Ta Kung Pao entitled "The Virtual Asset Ecosystem is Changing", which pointed out that Vitalik mentioned in TOKEN2049 that it is now in the early stage of the real availability of crypto technology, and that crypto technology is gradually maturing and being more widely used. It is worth noting that the US Federal Reserve has cut interest rates...
Li Weihong, a member of the Hong Kong Legislative Council, wrote an article in Ta Kung Pao, focusing on how to explore new market opportunities, improve the pain points of Hong Kong's financial services industry and enhance the momentum of economic development. He pointed out that the Hong Kong Securities Supervision Commission is welcome to relax investor restrictions on virtual asset transactions and allow retail transactions to be moderately allowed.
Nick Timiraos, the "Fed mouthpiece", recently wrote that the Federal Reserve voted today to cut interest rates by 0.5 percentage points, the first time since 2020, and it also chose a bolder start. Powell's decision to cut interest rates by more than most analysts expected a few days ago made...
On September 13, sources familiar with the matter revealed that Poolside, a startup that develops software written in artificial intelligence, is in talks for a new round of financing, which will give it a valuation of $3 billion before the launch of its initial product. The company will raise nearly $500 million, according to people familiar with the matter. Bain Capital Ventures, an existing investor in Poolside, is in talks to lead the round. Neither Poolside nor Bain Capital Ventures comment...
The 2024 Forum on China-Africa Cooperation Summit released a lot of good news for China-Africa cooperation. Regarding Hong Kong's advantages and opportunities in it, Guo Hanbing, a postdoctoral researcher at the Institute of Finance of the Chinese Academy of Social Sciences, said in an interview with Ta Kung Pao that in the context of the summit, Hong Kong's role is gradually transforming from a traditional trade and financial intermediary to an innovative partner, injecting new vitality into Af...