Crypto
15:34
Stephen Roach: The bubble of the seven major US technology companies is worrying, and cryptocurrencies such as Bitcoin are "ticking time bombs"
Amidst increasingly complex US political conditions and a weakening US dollar index, will the US dollar lose its status as a global reserve currency? With US stocks continuing to rise, when will the bubble of the "Big Seven" burst? On October 23rd, at the 2025 Bund Annual Meeting, Stephen Roach, senior fellow at the Tsai Center for China Studies at Yale Law School, stated in a group interview with The Paper and other media outlets that despite facing numerous pressures this year, the US dollar will maintain its status as a global reserve currency in the short term, and the current weakness is likely just a short-term correction. Regarding US stocks, Roach believes that current valuations are largely driven by the "Big Seven" and other AI-related stocks, and this bubble is a cause for concern. Roach also discussed the risks of cryptocurrencies. He believes that compared to stablecoins, cryptocurrencies like Bitcoin are more speculative and "a ticking time bomb."
11:06
Beijing North: Combining privacy computing and quantum technology to continuously explore business opportunities in areas such as cross-border payments
Jingbeifang stated in an institutional survey that during the reporting period, the company officially established a wholly-owned subsidiary in Hong Kong, aiming to build a cross-border technology collaboration platform to serve diverse client groups, including banks, securities firms, and funds. Currently, the company has signed business cooperation agreements with multiple overseas institutions, accelerating the implementation of its global expansion strategy. Going forward, the company will focus on expanding the application of AI agents in various financial business scenarios, including marketing, risk control, and operations. Furthermore, in the fields of blockchain and smart contracts, by integrating privacy-preserving computing with quantum encryption technology, the company will continue to explore business opportunities in areas such as digital asset management, cross-border payments, and supply chain finance, aiming to build a secure and efficient financial infrastructure ecosystem.
23:41
Binance Coin (BNB) continued its upward trend, with the increase reaching as high as 8% at one point.
22:22
Coinbase Global: We have noticed that some users may experience delays in sending and receiving transactions on the Noble network.
11:30
Ba Shusong, Managing Director of the Hong Kong Exchanges and Clearing Limited (HKEX): The global market value of gold has exceeded US$27 trillion, becoming the world's second largest reserve asset.
The 2025 Hong Kong Exchanges and Clearing China Opportunities Forum was held in Shanghai on October 22nd. Ba Shusong, Managing Director and Chief China Economist of the Hong Kong Exchanges and Clearing Limited, stated that the rapid growth of global debt is unsustainable, and traditional safe-haven assets face a redefinition. The rise in gold and Bitcoin prices reflects deep concerns about the declining purchasing power of fiat currencies, which is closely related to the de-dollarization process. The US dollar's share of global reserves has fallen from 60% in 2000 to 41% in 2025. Currently, the global market value of gold has exceeded US$27 trillion, making it the world's second-largest reserve asset.
22:53
Bitcoin breaks through $111,000, up 0.45% on the day
Bitcoin rose above $111,000, up 0.45% on the day.
09:55
Bitcoin fell below $110,000 per coin, down 0.50% on the day
Bitcoin fell below $110,000 per coin, down 0.50% on the day.
02:30
Cryptocurrency exchange Coinbase: Trading services have partially resumed.
22:14
Coinbase (COIN.O): We have noticed that some customers may be experiencing transfer delays.
20:13
Coinbase (COIN.O): The issue has been resolved and users should no longer experience slow app or web performance.
17:38
Coinbase (COIN.O): We are seeing early signs of recovery, and some users are now able to access and use Coinbase services.
16:06
Coinbase (COIN.O): We have noticed that customers may not be able to perform buying and selling operations or log in to the web and mobile versions. The team is investigating this issue and will provide the latest progress in a timely manner.
12:08
Bitcoin rises above $110,000 per coin
Bitcoin rose above $110,000 per coin, up 1.6% on the day.
11:53
Bitcoin breaks through $110,000 per coin, up 1.31% on the day
Bitcoin surpassed $110,000 per coin, up 1.31% on the day, while Ethereum surpassed $4,000 per coin, up 0.47% on the day.
01:25
Bitcoin falls below $110,000
Bitcoin fell below $110,000, down more than 3%.
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Weekly Highlights
Southbound funds saw a significant net inflow of 5.345 billion yuan today. On the Shanghai side of the Hong Kong Stock Connect, Pop Mart and CNOOC saw net inflows of HK$538 million and HK$529 million, respectively, while Hua Hong Semiconductor saw the largest net inflow of HK$356 million. On the Shenzhen side of the Hong Kong Stock Connect, Meituan-W and CNOOC saw net inflows of HK$487 million and HK$451 million, respectively, while Hua Hong Semiconductor saw the largest net inflow of HK$659 million.

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