Federal Reserve officials suggest another interest rate cut in December

[Hong Kong SFC Allows Platforms to Offer Virtual Assets and Stablecoins Without 12-Month Performance Records] The Hong Kong Securities and Futures Commission (SFC) announced that platform operators can offer virtual assets without a 12-month performance record to professional investors, while also allowing the issuance of stablecoins by licensed institutions in Hong Kong. This policy aims to further regulate the operation of virtual asset trading platforms and promote the development of Hong Kong's digital asset market. (UTC+8)

[Hong Kong Monetary Authority to Launch Ensemble Project Pilot Program to Promote Asset Tokenization Development] Eddie Yue, Chief Executive of the Hong Kong Monetary Authority (HKMA), outlined the 'Fintech 2030' vision in his opening speech at Fintech Week, aiming to position Hong Kong as a robust, resilient, and forward-looking international fintech hub. The HKMA will focus on four key areas, encompassing more than 40 specific projects, including promoting financial tokenization and building an active tokenization ecosystem. The HKMA plans to provide a demonstration for asset tokenization through the regular issuance of tokenized government bonds and will study the feasibility of tokenizing Exchange Fund Bills and bonds. Additionally, the HKMA is set to launch the Ensemble Project pilot program to support applications in real-world transaction scenarios and will continue collaborating with industry stakeholders and other central banks to explore innovative tokenization use cases.

[Abraxas Capital's Two Addresses Hold $760 Million in Positions, Unrealized Profit Exceeds $50.2 Million] On November 3, monitoring data showed that the total balance of two addresses labeled as Abraxas Capital (0x5b5, 0xb83) increased from $165 million last Monday to $256 million. Over the past 24 hours, these accounts ranked first in contract positions on Hyperliquid, with the total nominal value of positions rising from $480 million to $760 million. In the past 24 hours, Abraxas Capital significantly increased its short positions in BTC and ETH. The ETH short position grew from $226 million to $267 million, the BTC short position increased from $124 million to $280 million, and the HYPE short position rose from $97.4 million to $103 million. The total unrealized profit across the two addresses reached $50.2 million. However, the main address (0x5b5) still has an unrealized loss of $12.57 million on its ETH short position, with an average entry price of $3,531, reflecting a loss of approximately 54%.

[Changpeng Zhao Denies Proposal to Create Private Crypto Bank] Changpeng Zhao responded to reports about his alleged proposal to create a private crypto bank in Kyrgyzstan, stating that the claim is false. He clarified that he has never personally proposed creating a bank. While he supports collaboration between banks and cryptocurrencies, he has no intention of operating a bank and is unfamiliar with the names mentioned in the report.

In the past hour, the cryptocurrency market cleared long positions worth $140 million, indicating a significant increase in market volatility. （Watcher.Guru）