Spot Gold Breaks $5240, Silver Breaks $114

**January 28th — Ethereum co-founder Vitalik Buterin told Forsight News in an interview that Polymarket’s most hyped markets right now focus on short-term bets: “Which team will win next week?” or “Will Bitcoin’s price rise or fall in one hour?” These wagers have little long-term social significance, he noted. While prediction markets are a successful tool in theory, Buterin argued we need more meaningful use cases.** **Buterin also shared his personal experience: last year, he turned $440,000 in principal into $710,000 on Polymarket (netting $70,000 in profits). His strategy? Target markets in “mania mode” and bet that “crazy things won’t happen.” When market sentiment hits irrational “mania mode,” betting against the hype usually pays off, he explained.**

On January 28th, market data shows HYPE has continued to rally, briefly surging past $34. It’s currently trading at $33.9, with a 24-hour price gain of 27.6% and a 24-hour trading volume of $2.1 billion.

January 28th — Per monitoring from HyperInsight (https://t.me/HyperInsight), "Buddy" Huang Licheng deposited ~$225,000 into Hyperliquid overnight and this morning. He has since added to positions using those funds plus unrealized profits, accumulating 2,450 ETH long positions worth ~$7.35 million today. Following this move, his 25x-leveraged ETH long position has jumped from 2,800 to 5,250 ETH (valued at ~$15.77 million). He currently holds ~$300,000 in unrealized profits (49% gain), with an average entry price of $2,944.71 and a liquidation price of $2,716.71. The trader previously profited from blue-chip NFT trades but has seen significant drawdowns since becoming active in October this year, shrinking his account size from over $100 million.

On January 28, per Onchain Lens monitoring data, a crypto whale known as "Einstein" withdrew 3 million USDC from Lighter, deposited the funds into HyperLiquid, and purchased 90,780 HYPE tokens at a price of $33.05 apiece.

On January 28, Hong Kong Legislative Council’s Financial Affairs Committee announced it will host a briefing on January 30, where Hong Kong’s Financial Services and the Treasury Bureau will deliver a policy update. Christopher Hui, Secretary for Financial Services and the Treasury, and Alan Lo, Deputy Secretary, will attend the session. Per official documents: To advance the sustainable, healthy growth of Hong Kong’s digital asset industry and solidify its standing as an international financial hub, the government will submit legislative proposals to the Legislative Council this year. These proposals aim to implement the Financial Action Task Force (FATF)’s cryptocurrency reporting framework and common reporting standards. The end goal is to automatically exchange tax information tied to cross-border crypto transactions with other tax jurisdictions starting in 2028—targeting cross-border tax evasion and boosting global tax transparency. The government is currently seeking public