Hong Kong Stablecoin License Race Heats Up

**Regulators Launch Insider Trading Probe** The SEC and FINRA are investigating companies for unusual trading activity that occurred before they announced Bitcoin purchases for their treasuries. **Key Investigation Details:** - Regulators suspect potential insider trading violations under Regulation FD - Focus on suspicious trading spikes preceding crypto treasury announcements - Investigation could signal broader regulatory crackdown on crypto-related market activity **Market Impact:** - Increased regulatory scrutiny may lead to stricter compliance measures - Could affect how companies handle crypto treasury decisions and communications - May impact overall market behavior in the crypto sector This probe represents a significant intersection of traditional securities regulation with corporate crypto adoption, potentially setting precedents for future oversight.

The web3 community continues its daily ritual with another cheerful **gm gm** greeting accompanied by a sunny emoji. This marks another consistent day in the ongoing pattern of morning salutations that have become a staple of crypto culture. - Daily greetings maintain community engagement - Sunny weather emoji suggests positive sentiment - Consistent posting pattern shows active participation The simple yet meaningful tradition of saying good morning keeps the community connected across different time zones and projects.

**Tether seeks massive funding round** - reportedly pursuing up to $20B in funding that would value the stablecoin issuer at $500B, ranking it alongside OpenAI and SpaceX as top private firms. **Market dynamics shift** - the funding represents just 3% equity, though insiders view the target as overly ambitious. Meanwhile, Circle faces pressure with USDC market cap at ~$30B versus Tether's $170B USDT supply. **Regulatory developments** - SEC Chair Paul Atkins plans innovation exemptions by end of 2025 to simplify blockchain product approvals, potentially accelerating institutional adoption. **Security incident** - UXLINK lost $11.3M after attackers minted 1B tokens, causing an 80% price drop. In an ironic twist, the hacker later lost 542M tokens to a phishing scam. **Traditional finance integration** - Morgan Stanley partners with Zero Hash to enable BTC, ETH, and SOL trading for E*Trade clients by mid-2025, marking a significant TradFi step into digital assets.

**FDUSD now available on BRIDGERS** Bridgers has added support for **$FDUSD**, enabling users to route the stablecoin across multiple blockchain networks. **Key features:** - Non-custodial execution through smart contracts - Aggregated liquidity from multiple sources - User-authorized transactions - Secure cross-chain routing This follows recent additions of other tokens including BONK, PENGU, JUP, and PUMP to the platform. Bridgers operates as a routing protocol that finds optimal paths across DEXs and bridges while users maintain control of their assets. [Try Bridgers](http://dapp.bridgers.xyz)

**Nine major European banks** including ING, UniCredit, and CaixaBank are collaborating to launch a **MiCA-regulated euro stablecoin** by the second half of 2026. **Key Details:** - Seeking license from Dutch central bank - Aims to become Europe's digital payment standard - Enables low-cost, near real-time cross-border payments - Supports digital asset settlement **Strategic Timing:** With the official digital euro delayed until 2029, this banking consortium's stablecoin could serve as a crucial **interim solution** for European digital payments. **Market Impact:** The initiative positions Europe to compete with USD-dominated stablecoins while providing **regulatory compliance** under the Markets in Crypto-Assets (MiCA) framework. This collaboration represents a significant step toward establishing Europe's digital financial infrastructure and reducing dependence on non-European payment systems.