[The Bank of England's Chief Economist Takes a Cautious Stance on Setting Yield Caps] The Bank of England's Chief Economist, Pill, stated that he would be very cautious about setting yield caps to prevent quantitative tightening, as he believes this would create targets for speculation.

Secretary for Financial Services and the Treasury of Hong Kong: Hong Kong will promote the standardization of RWA and increase gold storage capacity The Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region, Xu Zhengyu, stated that Hong Kong will leverage the advantages of "one country, two systems" to create a national "international asset safe deposit box" and serve the strategy of building a strong financial country. He emphasized that the development of financial technology aims to "empower the real economy" and explore the application of asset tokenization in scenarios such as international shipping leasing and enterprise fund management. Hong Kong has passed relevant laws and plans to issue stablecoin licenses next year. The initial number of licenses will be limited, with a focus on addressing pain points in the real economy such as cross-border payments. Hong Kong will promote the transition of the settlement cycle of the Hong Kong stock market from T+2 to T+1, and plan to optimize the "same stock, different rights" system. In the next three years, Hong Kong plans to increase its gold storage capacity to 2000 tons and launch a central gold settlement system next year. At the same time, it will cooperate with the Shanghai Gold Exchange to enhance China's pricing influence in the global gold market. In addition, Hong Kong plans to submit a bill to the Legislative Council next year to expand tax exemptions to emerging product categories such as digital assets, private credit, and carbon credit.

Falling revenue and record difficulty could tighten the squeeze on bitcoin miners, though many are more driven by their AI infrastructure initiatives.

[Onfolio Holdings Raises $300 Million to Establish Digital Asset Treasury] Nasdaq-listed company Onfolio Holdings announced that it has raised $300 million through convertible notes from a U.S. institutional investor. The new funds will be used to establish a digital asset treasury, initially purchasing BTC, ETH, and SOL, and generating revenue through cryptocurrency staking to strengthen the balance sheet and accelerate operational business growth.

[Ethereum Foundation Proposes Interoperability Layer Solution to Optimize L2 User Experience] The Ethereum Foundation's Account Abstraction team has proposed the 'Ethereum Interoperability Layer (EIL)' solution, aiming to make all Layer 2 networks function as a single Ethereum chain. This solution is based on the ERC-4337 standard and the principles of trustlessness, enabling users to complete cross-chain transactions with a single signature, without introducing new trust assumptions. Users can directly initiate and settle cross-Layer 2 operations from their wallets without relying on relayers or solvers. EIL aims to address the fragmentation issue of Layer 2 networks, simplify token management, and streamline cross-chain transfer processes. Users only need to select the asset and address, and the wallet will automatically handle inter-chain routing and asset delivery.