Core Viewpoint - HashKey Holdings has initiated its share sale in Hong Kong, aiming to gauge investor interest despite ongoing regulatory warnings from China's central bank regarding virtual currencies [1][2]. Group 1: IPO Details - HashKey has set its initial public offering (IPO) price range between HK$5.95 and HK$6.95 per share for over 240 million shares, with a listing date scheduled for December 17 [1]. - The company is targeting up to HK$1.67 billion (approximately US$214 million) from the IPO, having previously aimed for US$500 million [2]. Group 2: Regulatory Environment - The People's Bank of China has reiterated its strict stance on cryptocurrency speculation, maintaining a ban on crypto trading and committing to crack down on illegal financial activities [2]. - Despite the regulatory challenges from Beijing, Hong Kong is perceived as offering a more relaxed environment for compliant firms, particularly with the introduction of the Stablecoin Ordinance [5]. Group 3: Market Position and Performance - HashKey is one of 11 virtual asset trading platforms recognized by Hong Kong's Securities and Futures Commission and is set to be the second crypto exchange operator to list in the city [3]. - The company holds a dominant position in the market, with over 75% market share in Hong Kong's trading volume for 2024 and is the largest provider of on-chain services in Asia [7]. - HashKey's retail bookbuilding has seen significant interest, attracting HK$1.85 billion in margin financing within half a day, indicating a potential oversubscription of 23.7 times for the retail tranche [6].

South Korea is moving to impose bank-level liability standards on crypto exchanges following a $30.1 million hack at Upbit last month, shifting toward treating major platforms with the same regulatory rigor as traditional financial institutions. According to The Korea Times, the Financial Services Commission is reviewing provisions that would require crypto exchanges to compensate users for losses caused by hacking or system failures, regardless of fault, mirroring rules currently applied only to banks an ...

Upbit deletes all deposit addresses post hack. Source: CCN Key Takeaways Upbit is deleting all old deposit addresses after a Nov. 27 breach exposed vulnerabilities in its hot-wallet infrastructure. Every user must generate new deposit addresses across all supported assets. The overhaul comes as regulators scrutinize Upbit in the wake of a $36 million loss and just months ahead of Dunamu’s $10.3 billion sale to Naver Financial. Upbit, South Korea’s largest crypto exchange, is taking the unusual st ...

Core Insights - Ripple transferred 46,019,328 XRP coins valued at over $101 million to a wallet linked to Binance, indicating significant movement in the crypto market despite ongoing ETF discussions [1][2][5] - The XRP ETF saw $50.27 million in net inflows, contributing to a total assets under management (AUM) surpassing $906 million, reflecting strong investor interest [3][4][5] - Despite the positive ETF sentiment, XRP's price has experienced a decline of approximately 2%, with analysts suggesting potential for a rally if it breaks above $2.28 [5][6][7] Group 1: XRP Transfer Details - Ripple executed a transfer of 46,019,328 XRP coins to Binance, valued at $101.40 million at current market prices [2] - This transfer follows a previous transaction of the same amount from a Ripple subwallet to a Binance subwallet, indicating a strategic move within the crypto ecosystem [2] Group 2: Market Sentiment and ETF Activity - The XRP ETF has garnered significant attention, with net inflows of $50.27 million, showcasing resilience in the face of market volatility [3][5] - The total AUM for XRP-related ETFs has exceeded $906 million, bolstered by fee waivers from issuers, which may attract further investment [4] Group 3: Price Movement and Analyst Predictions - XRP's price has dropped by over 1.70% recently, trading at $2.17, with a notable decrease in trading volume by more than 30% in the last 24 hours [6] - Analysts predict that if XRP can break the resistance level of $2.28, it may rally towards $2.75, indicating potential bullish sentiment if key levels are surpassed [7]

Core Insights - Charles Schwab plans to launch spot crypto trading in 2026, marking a significant move for a major US brokerage overseeing over $12 trillion in client assets [1][2] - The introduction of spot trading will allow mainstream investors to access cryptocurrencies like Bitcoin and Ethereum in the same environment as traditional assets [2][3] Group 1: Strategic Implications - Schwab's entry into the crypto market signifies a shift in traditional brokers' approach to digital assets, moving from indirect exposure through crypto-themed ETFs to direct trading [2][3] - The move aims to consolidate investor activity by allowing millions of Schwab customers, who currently hold traditional assets and use external exchanges for crypto, to manage everything under one account [3] Group 2: Competitive Landscape - Schwab's entry poses a structural challenge for US crypto exchanges, particularly if it adopts a zero-commission model similar to its stock and ETF trading [4] - This low-fee approach could undermine the revenue models of existing crypto exchanges like Coinbase and Kraken, which rely heavily on trading fees [5]

Core Insights - Zcash (CRYPTO: ZEC) has experienced a significant price increase this year, rising from approximately $50 in mid-September to over $700, before stabilizing around $450 [1] - A new catalyst has emerged that could potentially drive Zcash's price to $1,000 next year [2] Regulatory Environment - Privacy coins like Zcash face regulatory challenges due to their potential use in illicit activities, leading to scrutiny from regulators [4] - Major exchanges, such as OKX, have previously delisted Zcash due to regulatory pushback, which limited its market access and growth potential [5] Recent Developments - OKX has re-listed Zcash as of November 24, which is expected to be a significant catalyst for the coin's price and market interest [5] - The re-listing coincides with a growing interest in Zcash, marking a potential turning point for the asset after years of being overlooked [7] Market Dynamics - OKX serves millions of users globally, particularly targeting Chinese-speaking investors, despite the ban on cryptocurrency trading in mainland China [6] - The re-listing of Zcash opens up access to a large pool of potential buyers, particularly from Chinese retail investors who have been unable to invest in privacy assets for the past few years [6][7]

Market Overview - Crypto markets experienced their steepest monthly decline since February, with exchange volumes dropping to $1.59 trillion and Bitcoin ETFs facing $3.48 billion in net outflows [1] - Bitcoin's price fell below $86,000, resulting in over $600 million in liquidated leveraged positions, following a decline from its all-time high of $126,251 [1] Exchange Performance - Binance retained its market leadership with a November volume of $599.34 billion, down from $810.44 billion in October [2] - Other exchanges like Bybit, Gate.io, and Coinbase recorded volumes of $105.8 billion, $96.75 billion, and $93.41 billion respectively [2] Decentralized Exchanges (DEXs) - DEX volumes fell to $397.78 billion from $568.43 billion in October, marking the lowest monthly total since June [3] - Uniswap led DEX platforms with $79.98 billion in November volume, down from $123.88 billion, while PancakeSwap processed $70.57 billion, down from $102.02 billion [3] Market Dynamics - The DEX-to-CEX volume ratio decreased to 15.73% in November from 17.56% in October, indicating a shift towards centralized exchanges amid worsening market conditions [4] - Bitcoin's price fluctuated significantly, starting around $110,000 and dropping to a low near $81,000 before a slight recovery [4] Liquidation Events - The selloff resulted in $564.3 million in long position liquidations, with Bitcoin accounting for $188.5 million and Ether for $139.6 million, pushing total market liquidations over $641 million [5] External Influences - Speculation regarding a potential December rate hike by the Bank of Japan was identified as a key factor contributing to the market crash [6] - Market participants are projecting a 52% chance of a 25-basis-point increase at the BOJ's upcoming meeting, with bond investors assigning a 76% probability [6]

Core Insights - HashKey Holdings Limited has successfully cleared a significant regulatory hurdle by passing the Hong Kong Stock Exchange's listing hearing, bringing the company closer to an initial public offering [3][4][9] - The company plans to utilize the proceeds from the IPO for technology upgrades, product development, security enhancements, and overseas expansion, although it has not disclosed the offering size or timing [5][9] - Despite narrowing losses, HashKey continues to operate at a loss as it invests heavily in compliance and scaling its operations in a regulated market [6][7][9] Company Details - HashKey is the operator of Hong Kong's largest licensed crypto exchange and holds a coveted license to run a virtual asset trading platform, supporting 80 tokens as of the end of September [6] - In the first half of 2025, HashKey reported a net loss of HK$506.7 million (approximately $65 million), which is an improvement from a net loss of HK$772.6 million (approximately $99.2 million) in the previous year [7] - The company has named JPMorgan and Guotai Junan Securities as sponsors for its IPO transaction [6] Market Context - If the IPO is completed, HashKey will join local competitor OSL as a publicly listed crypto exchange operator [8]

Core Insights - The landscape for day trading in cryptocurrency is evolving, with a focus on speed, security, and advanced trading tools becoming increasingly important for traders in 2025 [1][2] Group 1: Key Features of Top Crypto Exchanges - Speed and execution are critical, with traders seeking platforms that offer instant trades and tight spreads [1][2] - Security and regulatory compliance are paramount, as traders need to trust the platforms they use [1][2] - A variety of trading options, including spot, futures, and margin trading, are essential for meeting diverse trading strategies [3][4] Group 2: Overview of Leading Exchanges - Binance, founded in 2017, is recognized for its high trading volume and liquidity, offering low fees of around 0.10% for both makers and takers [6][7] - MEXC, established in 2018, is noted for its extremely low fees, with spot maker fees at 0% and taker fees at approximately 0.05%, alongside a wide range of trading pairs [10][11] - Bybit, launched in 2018, is known for its competitive fees in derivatives trading, with maker fees as low as 0.02% and taker fees around 0.055% [15][16] - OKX, operating since 2013, offers a comprehensive suite of trading options and competitive tiered fees, making it a strong choice for derivatives trading [22] - Crypto.com, started in 2016, provides an integrated app for trading and earning, with a focus on user experience and liquidity [27][28] Group 3: Trading Strategies and Tools - Day trading strategies such as scalping, momentum trading, and breakout trading are commonly employed to capitalize on short-term price movements [85][86][87] - Advanced trading tools, including trading bots, APIs, and various order types, enhance the trading experience and efficiency [102][103] - Liquidity is a crucial factor, as it allows traders to enter and exit positions quickly without significant price impact [60][69] Group 4: Considerations for Choosing Exchanges - User interface and trading experience are vital, with a preference for platforms that offer intuitive navigation and customizable features [73][74] - Reputation and security measures, such as two-factor authentication and cold storage, are essential for protecting traders' assets [75][76] - Understanding trading fees and withdrawal costs is important, as these can significantly affect profitability [77][78]

RT India Blockchain Week (IBW) Conference | 2-3 Dec (@IBWofficial)We’re excited to have @Bybit_Official join the #IBW2025 Conference as a Gold Sponsor.As one of the world’s leading crypto exchanges, Bybit continues to back India’s web3 growth story empowering builders, founders, and investors who are shaping the future.Drop by the booth for a chat on partnerships or just come say hi! ...