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Coinbase Invests in WCT, Secures $45.75M Funding, Set to Launch on OK Exchange—Is a 100x King in the…
Community Launch of WCT In the cryptocurrency realm, every significant funding round and project launch can create waves in the market. Recently, a major announcement has captured the attention of the crypto community: WalletConnect (WCT), backed by Coinbase, has successfully raised $45.75 million and is set to make its debut on OK Exchange. This news has sent ripples through the market, leading many investors to wonder if a 100x king is truly on the horizon. Specific Launch Times:WCT Deposit...
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BRC-2.0: Can Bitcoin’s Smart-Token Standard Recapture the Magic of the 2023 Inscription Boom?
The Upgrade That Went Live at Block 912,690 On 2 September 2025, at Bitcoin block height 912,690, the BRC20 stack received its biggest overhaul since launch. Dubbed BRC-2.0, the release—co-authored by original designer Domo and the Ordinals team Best in Slot—drops a fully functioning Ethereum Virtual Machine (EVM) inside the BRC20 indexer. The move turns Bitcoin into a Turing-complete settlement layer, promising DeFi, NFT markets, borrow-lend and synthetic-asset apps without leaving the BTC s...
Burn vs. Redistribution in Crypto: Which Mechanism is Better?
Core Topic: Exploring the applicable scenarios for burn and redistribution mechanisms in cryptocurrency, emphasizing that redistribution is superior when economic value impacts system security. Key Definitions: * Slashing: The act of reclaiming assets from malicious actors. * Burn vs. Redistribution: Methods for handling the reclaimed assets. Burning reduces the total supply, while redistribution transfers the value to other parties. The Advantages of Redistribution: * Enhances economic secur...
Coinbase Invests in WCT, Secures $45.75M Funding, Set to Launch on OK Exchange—Is a 100x King in the…
Community Launch of WCT In the cryptocurrency realm, every significant funding round and project launch can create waves in the market. Recently, a major announcement has captured the attention of the crypto community: WalletConnect (WCT), backed by Coinbase, has successfully raised $45.75 million and is set to make its debut on OK Exchange. This news has sent ripples through the market, leading many investors to wonder if a 100x king is truly on the horizon. Specific Launch Times:WCT Deposit...
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Why China Should Accelerate the Legalization of Bitcoin ETFs on the Mainland
Support Sophiaqr
Why China Should Accelerate the Legalization of Bitcoin ETFs on the Mainland
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Cryptocurrencies like Bitcoin are increasingly entering the global financial mainstream. Since 2017, China has strictly restricted or even banned cryptocurrency trading on the mainland. However, regions including the U.S., Canada, Europe, and Hong Kong have actively introduced compliant investment products like Bitcoin ETFs to meet investor demand and recognize Bitcoin as a strategic asset. In contrast, China’s blanket ban may preserve short-term financial stability but risks missing significant long-term opportunities.
Legalizing Bitcoin ETFs would enable residents to invest through regulated channels, leveraging private capital to indirectly build national strategic reserves, meet genuine market demand, mitigate gray-market risks, and create a win-win scenario for the state, investors, and Hong Kong’s market.
Public blockchain data and legal disclosures reveal that governments worldwide hold approximately 463,000 BTC (2.3% of total supply), representing hundreds of billions in sovereign wealth. Bitcoin is playing a growing role in national asset strategies.
U.S.: Seized 200,000 BTC (e.g., Silk Road case) and designated it as a strategic reserve in 2025.
China: Confiscated 190,000 BTC from the PlusToken scam in 2019, potentially making it the second-largest holder globally.
Others: Bhutan mined 12,000 BTC (30%+ of GDP), while the U.K. and Ukraine are quietly accumulating.
Bitcoin is transitioning from a speculative asset to "digital gold" in state strategies.
Canada: Pioneered spot Bitcoin ETFs in 2021 (e.g., Purpose Bitcoin ETF, now managing $2.6B CAD).
Europe: Jacobi listed the first spot Bitcoin ETF on Euronext Amsterdam in 2023.
U.S.: SEC approved spot Bitcoin ETFs in 2024, with assets surpassing $100B by year-end. BlackRock’s IBIT attracted $74.9B, becoming one of history’s most successful ETFs.
Bitcoin’s price surged to $120K post-ETF approvals, cementing its status as the "king of digital assets."
China risks falling behind if it maintains its prohibitive stance. Embracing ETFs would align its financial markets with global trends.
Bitcoin’s historical performance (26,000% returns over a decade) and inflation-hedging properties have attracted institutional and retail investors alike.
Chinese investors currently resort to offshore platforms or OTC trades (e.g., 8% of FTX users were from mainland China).
Gray-market risks: Fraud, exchange collapses, and capital flight undermine financial security.
A regulated Bitcoin ETF would:
Provide safe exposure via licensed custodians.
Enable real-time monitoring and taxation.
Redirect demand from shadow markets to transparent frameworks.
Hong Kong’s progressive crypto policies (e.g., approved spot Bitcoin/ETH ETFs in 2023–24) position it as a gateway for mainland investors.
Cross-Border Wealth Management Connect: Expanded in 2025, allowing Greater Bay Area residents to invest in Hong Kong’s "qualified products," potentially including crypto ETFs.
Benefits:
State: Indirect strategic reserves via private holdings.
Investors: Legal access with institutional safeguards.
Hong Kong: Enhanced liquidity and global crypto hub status.
This model aligns with "one country, two systems," avoiding direct contravention of mainland bans while fostering innovation.
The digital asset revolution is irreversible. As major economies adopt crypto investment channels, China must engage—cautiously but decisively.
Legalizing Bitcoin ETFs would:
Align with global trends.
Meet domestic demand securely.
Strengthen Hong Kong’s financial role.
A phased approach (e.g., piloting in the Greater Bay Area with investor education and quotas) could mitigate risks while unlocking strategic advantages.
The time to act is now. By embracing regulated crypto investment tools, China can secure its position in the future financial landscape.
Data as of 2025/07/21. BTC price: $120,000 (reference).
Cryptocurrencies like Bitcoin are increasingly entering the global financial mainstream. Since 2017, China has strictly restricted or even banned cryptocurrency trading on the mainland. However, regions including the U.S., Canada, Europe, and Hong Kong have actively introduced compliant investment products like Bitcoin ETFs to meet investor demand and recognize Bitcoin as a strategic asset. In contrast, China’s blanket ban may preserve short-term financial stability but risks missing significant long-term opportunities.
Legalizing Bitcoin ETFs would enable residents to invest through regulated channels, leveraging private capital to indirectly build national strategic reserves, meet genuine market demand, mitigate gray-market risks, and create a win-win scenario for the state, investors, and Hong Kong’s market.
Public blockchain data and legal disclosures reveal that governments worldwide hold approximately 463,000 BTC (2.3% of total supply), representing hundreds of billions in sovereign wealth. Bitcoin is playing a growing role in national asset strategies.
U.S.: Seized 200,000 BTC (e.g., Silk Road case) and designated it as a strategic reserve in 2025.
China: Confiscated 190,000 BTC from the PlusToken scam in 2019, potentially making it the second-largest holder globally.
Others: Bhutan mined 12,000 BTC (30%+ of GDP), while the U.K. and Ukraine are quietly accumulating.
Bitcoin is transitioning from a speculative asset to "digital gold" in state strategies.
Canada: Pioneered spot Bitcoin ETFs in 2021 (e.g., Purpose Bitcoin ETF, now managing $2.6B CAD).
Europe: Jacobi listed the first spot Bitcoin ETF on Euronext Amsterdam in 2023.
U.S.: SEC approved spot Bitcoin ETFs in 2024, with assets surpassing $100B by year-end. BlackRock’s IBIT attracted $74.9B, becoming one of history’s most successful ETFs.
Bitcoin’s price surged to $120K post-ETF approvals, cementing its status as the "king of digital assets."
China risks falling behind if it maintains its prohibitive stance. Embracing ETFs would align its financial markets with global trends.
Bitcoin’s historical performance (26,000% returns over a decade) and inflation-hedging properties have attracted institutional and retail investors alike.
Chinese investors currently resort to offshore platforms or OTC trades (e.g., 8% of FTX users were from mainland China).
Gray-market risks: Fraud, exchange collapses, and capital flight undermine financial security.
A regulated Bitcoin ETF would:
Provide safe exposure via licensed custodians.
Enable real-time monitoring and taxation.
Redirect demand from shadow markets to transparent frameworks.
Hong Kong’s progressive crypto policies (e.g., approved spot Bitcoin/ETH ETFs in 2023–24) position it as a gateway for mainland investors.
Cross-Border Wealth Management Connect: Expanded in 2025, allowing Greater Bay Area residents to invest in Hong Kong’s "qualified products," potentially including crypto ETFs.
Benefits:
State: Indirect strategic reserves via private holdings.
Investors: Legal access with institutional safeguards.
Hong Kong: Enhanced liquidity and global crypto hub status.
This model aligns with "one country, two systems," avoiding direct contravention of mainland bans while fostering innovation.
The digital asset revolution is irreversible. As major economies adopt crypto investment channels, China must engage—cautiously but decisively.
Legalizing Bitcoin ETFs would:
Align with global trends.
Meet domestic demand securely.
Strengthen Hong Kong’s financial role.
A phased approach (e.g., piloting in the Greater Bay Area with investor education and quotas) could mitigate risks while unlocking strategic advantages.
The time to act is now. By embracing regulated crypto investment tools, China can secure its position in the future financial landscape.
Data as of 2025/07/21. BTC price: $120,000 (reference).
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