News

According to Odaily, the Hong Kong Securities and Futures Commission has announced the convening of the third Digital Asset Advisory Panel meeting, where it discussed the future regulatory development of digital assets in Hong Kong with licensed virtual asset trading platforms. The meeting covered plans to strengthen the digital asset ecosystem, including enhancing the liquidity of licensed virtual asset trading platforms and further expanding regulatory initiatives for product and service types. Dr. Au Yeung Chi-hang, Executive Director of the Intermediaries Division of the Hong Kong SFC and Chairman of the Digital Asset Advisory Panel, stated that it is extremely important to strike a balance between innovation and robust investor protection. He emphasized the commitment to promoting the establishment of a prosperous and sustainable digital asset market in Hong Kong, ensuring that regulatory policies are pragmatic, effective, and appropriate.

On-chain data shows that whale address 1011 chose to liquidate all holdings and exit the market in the current trend, incurring a liquidation loss of $230 million. Previously, this address had attempted to buy the dip, but due to market volatility, it failed to achieve higher returns. The whale will only take action again when the risk-reward ratio becomes clear. (Ai Yi)

PANews, February 7th – According to on-chain analyst Ai Yi, trader Eugene Ng Ah Sio stated that Garrett (the 1011 whale who was liquidated for $230 million) has started dumping, and in order not to become his bagholder, he chose to exit the market.