Malaysia’s Royal Unveils Ringgit-Backed Stablecoin for APAC Payments
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The new fiat-pegged token arrives as Asia leads global stablecoin use, with over 50% of institutions in the region already on board.
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The new fiat-pegged token arrives as Asia leads global stablecoin use, with over 50% of institutions in the region already on board.
[Hong Kong Securities Association and SFC Discuss Virtual Asset Regulation and Market Maker Role] The Hong Kong Securities and Futures Professionals Association announced that it has held a meeting with the Hong Kong Securities and Futures Commission (SFC), focusing on the development and regulation of the virtual asset industry and new financial products. The meeting interpreted the latest policies, discussed compliance standards, over-the-counter trading regulation, tokenized securities applications, and the development path of derivatives. It also deliberated on topics such as optimizing asset transfer processes, clarifying the role of market makers, and improving company upgrade mechanisms.
[Mitsubishi UFJ: Fed Policy May Be Complicated by Leadership Changes in the Second Half of Next Year] Mitsubishi UFJ pointed out that the Federal Reserve cut interest rates by 25 basis points with a 9-3 vote, acknowledging that the labor market is gradually cooling. If no new tariffs are imposed, goods inflation may peak in the first quarter of 2026, and Powell stated that rate hikes are not the baseline expectation. The dot plot indicates only one rate cut in 2026, reflecting a more hawkish stance than the market anticipated. Powell emphasized that the Federal Reserve is in a favorable position to observe patiently. The policy outlook for the second half of next year may become complicated due to leadership changes at the Federal Reserve.
[Framework Co-Founder States Most Institutions Have Liquidated or Reduced Sky Tokens While Framework Remains Heavily Invested] Framework Ventures co-founder Vance Spencer posted on the X platform, stating that under the context of no lock-up restrictions for Sky tokens, Framework is currently the only VC still holding a significant amount of Sky tokens. Paradigm (previously held approximately 7%), a16z (previously held approximately 6%), Bain (previously held approximately 2-4%), and Syncracy (previously held approximately 1%) have sold all their holdings, while Dragonfly (previously held approximately 4-5%) and Parafi (previously held approximately 3-4%) have sold most of their holdings.
[U.S. Spot Bitcoin ETF Net Inflow of $221.56 Million Yesterday] Data monitored by Trader T shows that the U.S. spot Bitcoin ETF had a net inflow of $221.56 million yesterday.
[Gauntlet CEO: Outdated ADL Mechanism Causes $650 Million Loss for Hyperliquid Users] Gauntlet CEO Tarun Chitra pointed out that the commonly used Auto-Deleveraging (ADL) mechanism led to significant losses for Hyperliquid. Chitra stated that during the crypto market crash on October 10, more than $650 million was auto-deleveraged from profitable traders' positions, an amount 28 times the potential bad debt faced by the relevant exchange. This decade-old 'queue algorithm' is currently used by several perpetual contract platforms such as Binance, Hyperliquid, and Lighter, whereas a new ADL algorithm could have prevented such losses.