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Hong Kong Stablecoin Review Tribunal: Only allows Fiat-Collateralized Stablecoins, Applicants Capital Requirement is 25 Million Hong Kong Dollars

1 hours ago

On November 21st, as per the report by Aastocks, Daniel Lai, a member of the Hong Kong Stablecoin Oversight Committee and the Web3 Development Group, declared that currently, in Hong Kong, only fiat-collateralized stablecoins backed by legal tender are permitted. Applicants are required to have a minimum capital of at least 25 million Hong Kong dollars in order to ensure they possess sufficient financial strength to operate and manage market risks. The issuer's fiat funds must be invested in highly liquid and low-risk assets to guarantee the reliable support of the stablecoin's value. Furthermore, they must undergo an independent audit and present regulatory compliance proof to the regulatory authority.
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Bitcoin is down 9.88% year-to-date, while Ethereum is down 17.88%.

On November 21st, according to HTX market data, Bitcoin rapidly dropped below $82,000 in the afternoon. As of the time of writing, Bitcoin is currently trading at $84,271, with a cumulative decrease of 9.88% this year. In addition, Ethereum has experienced a cumulative decrease of 17.88% this year.

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「CZ's Long Squeeze」: Whale Longs Liquidation Imminent, Overall PnL Down to Only $2.76M

On November 21st, as per Ember Monitor, the long positions of the "CZ Whales' Opponent" whale are on the verge of liquidation. The current price is only $120 away from its ETH long liquidation price and only $0.17 away from its XRP liquidation price. The two long positions are currently at a floating loss of $3,973. In just 11 days, it has given back $59.12 million in profits. On 11/10, it had a profit as high as $61.88 million, but now only $2.76 million is left. Its ETH liquidation price is $2,595 and its XRP liquidation price is $1.75.

1 minutes ago

A trader's 25-win streak during the recent flash crash was just ended, resulting in a liquidation loss of $5.23 million.

On November 21st, as per on-chain analyst Ai (Twitter: @ai_9684xtpa), the long position of Bitcoin at address 0x926...8cc7a has been liquidated. This address held a long position of 256.98 BTC (approximately $20.86 million), with a liquidation price of $81,191.3, and the holding period was less than 4 days. This liquidation led to a loss of $5.23 million from a single coin transaction, making the address the second-highest loser on the Hyperliquid 24-hour loss list. In addition, the address also held a long position in SOL and is currently facing an unrealized loss of $870,000. It is reported that the trader had a previous record of 25 consecutive wins.

1 minutes ago

「Buddy」 Liquidated, Immediately Reopens 25x Ethereum Long

On November 21st, based on Hyperinsight's monitoring, after undergoing liquidation, the "Whale" reopened a 25x long position in Ethereum with only $14,900 remaining in the account. Currently, it holds 100 ETH, and the liquidation price is $2635. Previously, during the recent sharp sell-off, the "Whale"'s ETH (25x) long position was completely liquidated, resulting in a loss of $1.05 million in this transaction.

1 minutes ago

The total cryptocurrency market cap has dropped below the $3 trillion mark, with a 24-hour decline of 8.5%.

On November 21st, based on Coingecko data, the total cryptocurrency market capitalization has fallen below the $3 trillion level and is currently at $2.952 trillion, indicating a 24-hour decrease of 8.5%.

1 minutes ago

Abraxas Capital's two short positions are currently showing a realized gain of $76.83 million.

On November 21st, as monitored by Onchain Lens, the market is in an extremely bearish state. Abraxas Capital holds short positions in its two wallets, currently showing a floating profit of $76.83 million. Abraxas Capital has cumulatively made a profit of over $269.13 million through its short positions. However, some analysts have pointed out that the related addresses may be hedging their spot positions.

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