Robinhood CEO: Tokenized Securities Lending on the Blockchain Has Promising Market Potential

On November 24th, according to Naver, South Korea has expedited the institutionalization of Security Token Offerings (STOs) by amending the Electronic Securities Act and the Capital Market Act. These amendments have passed through the subcommittee of the Legislation and Judiciary Committee of the National Assembly, laying the foundation for the opening of the STO market in the first half of next year. It is expected that the amendments will formally incorporate blockchain distributed ledger technology into the electronic registration system, enabling issuers to register and manage blockchain-based security tokens as electronic securities. At the same time, it will bring investment contract securities and non-monetary trust beneficiary securities, such as small-scale over-the-counter trading platforms, under regulation, providing a basis for the legal operation of fractional investment exchanges. If the bill is finally passed at the full meeting of the National Assembly next month, the

November 24th. The columnist of HTX DeepThink and the researcher of HTX Research, Chloe, pointed out that this week, the U.S. market showed a feature of "data-intensive landing" before the holiday. Multiple core economic indicators are scheduled to be released from Monday to Wednesday. High-frequency employment data (especially initial jobless claims on Wednesday) will be a key factor influencing risk appetite. The crypto market is still digesting the adjustment since October. Bitcoin has fallen back about 30% from its high point. ETFs are experiencing continuous net outflows, and the Coinbase premium is weakening. Overall sentiment remains low. Although there is support for the mid-term outlook with expectations of "stop tapering + rate cut in advance," the current stage is closer to a rebalancing before the liquidity transition, and institutional positions are mainly reducing and hedging. Derivative pricing reflects a defensive stance in the market: The CME BTC futures basis has fal

November 24th: In response to community worries, it was noted that "Binance has begun to reclaim the improper profits from the Alpha airdrop due to violating operations. Multiple Alpha airdrop hunter accounts suspected to be studios have had assets of more than $10,000 frozen." He Yi responded to verify this incident and said that regular users are not affected.

On November 24th, as per Bitcoin Magazine, Nomura Securities and other major asset management companies in Japan are scheming to launch Bitcoin and cryptocurrency investment products. Nomura Securities, which manages assets up to $670 billion, is anticipated to exert a substantial influence on the industry upon its entry into the crypto market.

On November 24th, the analyst Darkfost_Coc from the cryptocurrency data analysis platform CryptoQuant pointed out that the open interest of Bitcoin has witnessed the largest 30-day decline in this cycle. Historical data shows that these liquidation phases are usually essential processes for forming a strong bottom and creating conditions for restarting the bull market trend.

November 24th: QCP issued its daily analysis, noting that following a nearly 30% pullback, BTC has exhibited initial signs of a rebound. The dovish remarks from the Federal Reserve have increased the probability of a December rate cut to 75%, indicating a potential change in market liquidity. Derivative data shows that investors have not given up on bullish wagers. The open interest of year-end call options remains higher than that of put options, concentrated in the range of 85K to 200K. Meanwhile, the negative funding rate implies that long leverage has been flushed out, reducing short-term downside risks. The future trend in the next few days may hinge on U.S. retail data, core PCE, and ETF fund flows.