Hong Kong Legislative Council: Will Advocate for More Support for Offshore RMB Stablecoin Development

On October 13th, according to official channels, Binance Alpha has made an announcement regarding the contract swap for Griffin AI (GAIN) following a security incident. After the project team clearly stated that they would give priority to user interests, the trading of the new GAIN token will commence on Binance Alpha 2.0 at 20:00 (UTC+8) on October 13, 2025. Previously, the trading of GAIN on Binance Alpha 2.0 was suspended at 7:00 (UTC+8) on October 2, 2025, and the user asset snapshot at that time will be utilized to calculate user balances. In order to protect users and ensure that eligible users (based on snapshot data) receive a 1:1 token swap compensation, Binance Alpha will use its own funds to cover 50% of the required tokens, with the remaining 50% being covered by the project team. Furthermore, the project team has pledged to implement a buyback plan, and a separate announcement will be made by the project team.

On October 13th, according to HTX market data, Bitcoin fell below $114,000 and is currently trading at $113,920, with a 24-hour percentage change narrowing to 2.11%.

On October 13th, according to Coinglass data, the total 24-hour liquidation of on-chain COAI contracts reached $29.8 million. The total long liquidation was $12.16 million, and the total short liquidation was $17.64 million. In terms of the amount of liquidation, it ranked only behind BTC, ETH, and SOL.

On October 13th, the Hong Kong-listed company Everlife Medical (01931.HK) announced that it has recently completed the acquisition of a property situated in Irvine, Orange County, California, USA. The total price for this acquisition is $4.365 million. Simultaneously, the company has established a wholly-owned subsidiary, ETHKBANK Inc. (ETHKBANK, registered ID: 20251886812), in Colorado, USA. This subsidiary will serve as a key platform for the group to carry out business related to stablecoin, medical, and innovative drug intellectual property securitization exchange in the North American market. (Sina Finance)

On October 13th, on-chain data analyst Murphy made a comparison between the crash on October 11th and the previous Luna flash crash that triggered a deep bear market. The external factors leading to the bearish turn in the previous cycle included the shift of the Fed's monetary policy from loose to tight. The internal factor was the Luna flash crash in May 2022, which directly damaged market confidence and served as a catalyst for BTC to enter a bear market. During the Luna flash crash from May 10th to May 11th, Binance's BTC balance experienced explosive growth. It reached a peak on May 10th with a daily average inflow of 48,595 BTC, while prices were still declining. This panic-driven exodus behavior, regardless of cost, reflected that investors' confidence was on the verge of collapse. In contrast, during the October 11th crash, no significant inflows to Binance were observed. Instead, the daily average outflow remained at 5,338 BTC. Despite the impact of the sudden event, the off-

On October 13th, spot gold rose above $4080 per ounce, with an intraday increase of 1.73%. (FX678)