At the Smartcon 2024 event in Hong Kong, Hong Kong Legislative Council member David Chiu said that the regulatory framework for stablecoins is expected to be submitted to the Hong Kong Legislative Council next month. The legislative process may take an additional two to three months, and the plan is to complete the legislative process early next year. David Chiu said that the HKMA currently allows potential issuers to test business plans and application scenarios through the "Stablecoin Issuer Sandbox".

On-chain analyst @ai_9684xtpa released an overview of Wintermute's market-making projects and stated that the Meme projects that Wintermute chooses to make markets for are mostly high in market value. Among its TOP 20 holdings, 90% have a market value of over US$100 million and 30% have a market value of over US$1 billion. Among them, PEPE and COK are the market-making projects with the highest and lowest market values, respectively.

OpenEden officially issued a statement saying: "OpenEden has learned of the recent allegations against its team members. As a platform committed to maintaining the values of trust and integrity, we are frustrated by these allegations involving this person's personal behavior. Pending the results of further investigation, we will take immediate action to suspend and remove this person from the management and operations of the company and its affiliates. Jeremy Ng remains as CEO and the company's operations are not affected. We hope you can understand and wait patiently for this matter. We will update in a timely manner."

The U.S. Treasury Department has developed a new financial inclusion strategy to help people gain access to the financial system, but cryptocurrencies are mentioned only once in the 35-page report, which touts the department’s work in flagging harms in the industry.

Stablecoin issuer Circle will increase exchange fees for its USDC stablecoin. Circle will charge a fee for USDC exchange over $15 million, and an additional fee for instant redemptions over $2 million per day. These fees will start at 0.03% per transaction and go up to 0.1% for redemptions over $15 million.

Jimmy Patronis, the chief financial officer of the state of Florida, wrote to Chris Spencer, executive director of the Florida State Board of Governors, asking the board to submit a report exploring the possibility of using Bitcoin and other digital assets as viable investments for the state pension fund.

BlockFi, a bankrupt and liquidated crypto lending platform, transferred 12,067 ETH (about 31.69 million US dollars) to Coinbase Prime 5 hours ago.

Yu Xian, the founder of SlowMist, posted on the X platform: "Please note that the official X account of the hardware wallet Keystone has been hacked. Be careful with any information you post (including private messages) to avoid being phished."

Visa Inc. has announced a partnership with crypto exchange Coinbase, which will allow Visa customers with eligible debit cards to deposit funds into their Coinbase Global Inc. accounts (sometimes even instantly). Coinbase already has connections to millions of customers' debit cards, but this new development will enable customers in the United States and the European Union to move funds in real time, according to a statement released on Tuesday. Yanilsa Gonzalez Ore, head of Visa Direct North America, said eligible Visa debit card holders can now "seize trading opportunities around the clock." Visa, which supports the Coinbase debit card, said customers can also use eligible debit cards to buy cryptocurrencies on Coinbase and withdraw funds from the platform to their bank accounts through the card.

Antonio Juliano, the founder of dYdX who recently returned to the position of CEO, announced in an official blog that he has decided to lay off 35% of the dYdX core team members. Earlier this month, Juliano first hinted at the need to revitalize the company when he returned to the company as CEO and said he was "going to founder mode."

Musk's xAI is in talks with investors about a funding round that would value it at around $40 billion. Just a few months ago, the startup was last valued at $24 billion when it raised $6 billion in the spring. People familiar with the matter said xAI hopes to raise billions of dollars in the new round, and the cash raised will be counted toward the $40 billion valuation. The financing discussions are at an early stage, which means terms could change and negotiations could fall apart.

DWF Labs announced on the X platform that a partner of the agency has been accused of inappropriate and unacceptable behavior. During the investigation of this matter, DWF Labs has decided to immediately terminate the management and operations positions of the above-mentioned partner.

Binance announced the launch of Binance Wealth, the exchange's first technology solution tailored specifically for the needs of wealth managers, providing them with an intuitive platform to oversee their clients' cryptocurrency investments securely and efficiently. The platform meets a growing market demand by enabling high-net-worth clients to access digital assets through their trusted wealth managers on Binance. Once onboarded, high-net-worth clients can choose to manage their investments themselves or receive advisory support from their wealth managers.