What Happened on April. 11th | Long Crypto, Long Hong Kong

After the series of frauds and implosions last year in the industry, the approach towards the crypto industry has seen a dramatic shift with the U.S. has adopted a more hardline response, but Hong Kong chose to embrace crypto and Web 3.

Paul Chan, the financial secretary of Hong Kong, wrote in a blog post:

“After the tide of speculation ebbs, the remaining powerful players will focus more on competing in technological innovation, practical application and value creation, and contribute to improving the quality of the real economy,"

“In the next stage, market participants need to develop blockchain technology more deeply, so that its characteristics and advantages of transparency, efficiency, security, disintermediation, de-platformization, and low cost can find wider application scenarios and solve more existing problems.”

Biggest Gainers & Losers

Headlines

Hong Kong Chief Executive: Hong Kong should become a leader in Web3.0 technology: John Lee stated that the 14th Five-Year Plan explicitly supports Hong Kong in building an international innovation and technology center. Innovation and technology are a key development area for Hong Kong, and the development of Web3.0 technology is currently at a golden period.

HK Web3 Association Accepting applications, Founding Members include major Chinese Enterprise: The initiating members of Hong Kong Web3.0 Association include China Mobile, China Merchants Group, Huawei, and Hong Kong University of Science and Technology. The chairman, Norman Chan Tak-Lam, is the former head of the Hong Kong Monetary Authority.

Hot projects on the market

Chinese Social Media Weibo Now Shows Bitcoin Price

TokenInsight Launches TokenWiki to Provide Better Crypto Education to the Masses

Derivative DEX EMDX to Launch V2 on Avalanche Subnet

BNB Greenfield Launched test network 'Congo'

Other news in case you missed it:

OKX to Suspend Deposits and Withdrawals of $ETH 1 Hour Before Shanghai Upgrade

a16z Launches State of Crypto Index to Track Crypto Industry from Technological Perspective

Douyin App's "Bitcoin" Search Page No Longer Shows Market Data

Binance Will Delist $QLC, $NEBL and $AUTO on April 18th

LiquidityTech Protocol Launches a $100 Million Quantitative Trading Incubation Fund

Fundraising

Mobile Game Development Studio Mayhem Studios Closes $20 Million Series A Funding Round Led by Sequoia Capital

CryptoGPT Raised $10 Million in Funding Led By Market Maker DWF Labs

Layer1 Blockchain Sei Raises $30M at $800M Valuation, with Multicoin Capital Involved