24H Trending Coins & News | Hong Kong to Crack Down on Unlicensed Payment Platforms, Polymarket to Charge Fees on Geopolitical Events (October 9)
- Key Takeaways: The crypto market saw a broad pullback, with major coins like BTC and ETH declining across the board, while small-cap tokens such as STRK and ASP bucked the trend with sharp gains. Meanwhile, Hong Kong regulators signaled a crackdown on unlicensed payment platforms alongside a 13.5% quarter-over-quarter decline in virtual asset trading commissions, underscoring the deepening trends of industry compliance and asset tokenization.
- Key Elements:
- Top 10 CEX trading volume coins all declined, with BTC down 1.58%, ETH down 3.85%, and NEAR plunging 13.55%; STRK led gains at +22.14%.
- Hong Kong's Treasury Bureau said it will take enforcement action against unlicensed payment platforms as needed, while the SFC reported a 13.5% quarter-over-quarter drop in virtual asset trading commission revenue in the first half of the year.
- South Korea's Deputy Prime Minister commented on the 2027 virtual asset taxation plan, stating that it will be carefully assessed with broad public input, as lawmakers questioned whether infrastructure is sufficiently prepared.
- TRON will launch tokenized stocks in Q4, and Gate has partnered with Visa to launch a crypto-linked card covering 40+ markets globally.
- Investment and financing activity remains brisk: Manus completed over $500 million in funding, First Digital plans to go public on Nasdaq via reverse merger at a $250 million valuation, and Catalyst secured $30 million led by Sequoia.
- SlowMist's Cosine warned of bookmark phishing attacks targeting FOMO's web platform, which can hijack user accounts and steal assets.
- Tom Lee stated that the core driver of this crypto cycle is asset tokenization, with a potential market size far exceeding the previous retail narrative.
1. Trending Coins on CEX
Top 10 CEX Trading Volume and 24-Hour Price Change:
- BTC: -1.58%
- ETH: -3.85%
- SOL: -5.94%
- XRP: -2.26%
- NEAR: -13.55%
- BNB: -4.67%
- DOGE: -4.78%
- ZEC: -10.24%
- SUI: -6.65%
- HYPE: -4.04%
24-Hour Top Gainers (Data Source: OKX):
- STRK: +22.14%
- ASP: +17.84%
- SKL: +13.63%
- XSOXS +10.54%
- SCR: +8.44%
- TIA: +7.87%
- IMX: +7.7%
- STX: +6.77%
- ATOM: +5.56%
- MERL: +5.21%
24-Hour Tokenized Stock Top Gainers (Data Source: msx.com):
- AAOZ.M : +23.64%
- COHQ.M: +20.01%
- AXTQ.M: +17.56%
- INV.M: +14.15%
- BEZ.M: +12.63%
- LITZ.M: +11.15%
- SOXS.M: +10.34%
- SNDQ.M: +9.54%
- SKDD.M: +8.78%
- BWET.M: +7.81%
- FLUT.M: +7.55%
- ETHD.M: +7.12%
2. Top 5 Trending On-Chain Meme Coins (Data Source: GMGN):
- DARK (Solana)
- TikTok (Solana)
- TWEETCRAFT (Solana)
- Knight Kitty (BSC)
- Datacenter (BSC)
Headlines
In response to some payment platforms that are registered only as fintech companies without obtaining any financial license category, Joseph Chan, Acting Secretary for Financial Services and the Treasury of Hong Kong, stated that appropriate enforcement action will be taken as needed under the relevant statutory regulatory framework to maintain financial stability and safeguard the rights and interests of customers and the public.
Polymarket Begins Charging Fees on Geopolitical Events
The Polymarket trading page shows that it has begun charging fees on market orders for geopolitical events, while limit orders remain free.
Polymarket's documentation has not yet been updated to reflect this fee, and the fee parameter for geopolitical events remains at zero.
U.S. Initial Jobless Claims for Week Ending October 3 at 197,000, Expected 200,000
U.S. initial jobless claims for the week ending October 3 came in at 197,000, versus an expected 200,000. The previous reading was revised from 197,000 to 199,000.
The four-week moving average of U.S. initial jobless claims for the week ending October 3 was 198,000. The previous reading was revised from 200,000 to 200,500.
U.S. continuing jobless claims for the week ending September 26 were 1.716 million, versus an expected 1.708 million. The previous reading was revised from 1.701 million to 1.699 million.
Industry News
Trump: White House Will Treat Anyone Not Using the New Term "Superintelligence" as an Enemy
U.S. President Trump stated that the White House will treat anyone who uses the term "artificial intelligence" instead of the highly accepted and more accurate new term "superintelligence" as an enemy.
The Hong Kong Securities and Futures Commission (SFC) released its Securities Industry Financial Review Report, disclosing that Hong Kong's securities industry recorded steady growth in the first half of this year, with net profits increasing 21% to HK$51.7 billion. Total net commission income from securities trading, futures and options trading, leveraged foreign exchange trading, and virtual asset trading, along with interest income, increased 13% from HK$40.1 billion in the second half of 2025 to HK$45.4 billion in the first half of 2026. In addition, total commission income reported from virtual asset trading in the first half of 2026 was HK$99.3 million, a decrease of HK$15.5 million from HK$114.8 million in the second half of 2025, down 13.5% quarter-over-quarter.
South Korean Deputy Prime Minister and Minister of Economy and Finance Lee Hyong-il stated that regarding the planned implementation of virtual asset taxation in 2027, various opinions raised by the National Assembly, as well as those from experts, industry participants, and relevant stakeholders, will be widely collected. South Korean lawmaker Kim Sang-hoon questioned that months before the implementation of virtual asset taxation, the relevant infrastructure remains incomplete, including insufficient capabilities to track and verify transaction records on overseas exchanges, DEXs, DeFi, and other platforms.
Fed Governor Waller: More Rate Hikes Still Needed, but Flexible on the Pace
Fed Governor Waller: More rate hikes are still needed, but I remain flexible on the pace of increases.
Project News
TRUMP Co-Founder: Developing TRUMP-Themed Game and TV Show, Seeking to Acquire Themed Amusement Park
TRUMP co-founder Bill Zanker said at Token2049, "We are producing a TRUMP game and a TV show, and we are looking to acquire a TRUMP-themed amusement park. All these projects we are doing are to make TRUMP valuable and keep holders happy."
TRON to Launch Tokenized Stocks in Q4
Justin Sun stated at Token2049 that in the fourth quarter, TRON will launch tokenized stocks to ensure that TRON users can access U.S. Treasuries and other high-quality assets.
Gate Partners with Visa to Launch Crypto-Linked Card, Bringing Digital Assets into Everyday Spending
During TOKEN2049 Singapore 2026, according to an official announcement, Gate announced a partnership with Visa to launch a crypto asset-linked card, with the service expected to roll out across 40+ markets globally. Users can apply for and manage the card through the Gate App and use digital assets to pay at online and offline merchants that accept Visa. During the payment process, the relevant digital assets will be automatically converted to fiat currency.
Cointelegraph Responds to Sale Rumors: CoinDesk Report Is False and Contains Multiple Factual Errors
Cointelegraph issued a statement responding to sale rumors, saying that the CoinDesk report is based on false information and contains multiple factual errors, and that Cointelegraph "is not for sale."
Cointelegraph stated that it welcomes external scrutiny but will not remain silent on reports that present speculation as fact, and demands that the relevant media outlet correct the report, explicitly acknowledge the errors, and give the correction equal prominence to the original report.
Financing
Manus Completes Over $500 Million New Funding Round
On October 8, Butterfly Effect, the parent company of Manus, officially announced that it had recently completed a new funding round of over $500 million. The round was led by Boyu Capital and IDG Capital, with existing shareholders Tencent, Sequoia China, and ZhenFund continuing to participate.
First Digital has entered into a definitive merger agreement with Nasdaq-listed CSLM Digital Asset Acquisition Corp III, with a pre-transaction valuation of $250 million. Upon completion of the transaction, the two parties are expected to establish a new holding company and list on Nasdaq, expected to be completed in the first half of 2027, subject to regulatory approval and other closing conditions.
AI Trading Agent Platform Catalyst Completes $30 Million Seed Round, Led by Sequoia Capital
Catalyst, a startup focused on building AI trading agents for retail investors, has completed a $30 million seed round led by Sequoia Capital, with participation from Jump Trading, PeakXV, Lux Capital, AntiFund, Coinbase, and Premji Invest.
AI Security Platform Rein Security Completes $25 Million Series A, Led by Glilot Capital and Others
AI-native security platform Rein Security has completed a $25 million Series A round co-led by Glilot Capital and Sienna Venture Capital, with participation from Corner Ventures, Atlacle, and RNP Capital Advisors.
Meanwhile Completes $37 Million New Funding Round, Led by Bain Capital Crypto
Meanwhile, backed by Sam Altman, announced the completion of a $37 million new funding round at a valuation of $350 million. The round was led by Bain Capital Crypto, with participation from Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Morgan Creek Digital.
People & Voices
SlowMist Cosine: Beware of Bookmark Phishing Attacks Targeting FOMO Web Interface
According to monitoring by SlowMist's Cosine, bookmark phishing attacks targeting the FOMO web interface are emerging. Such phishing pages trick users into completing a fake CAPTCHA verification, dragging JavaScript malicious code into the browser's favorites and saving it as a bookmark. After the user clicks on the bookmark 2 to 3 times, the previously logged-in FOMO account will be hijacked by the attacker, and the crypto assets in the account will be immediately stolen.
Hyperliquid Founder Jeff Yan: If Starting Over, Might Choose to Research Options
Hyperliquid founder Jeff Yan said in an interview at DAS 2026 Asia that if he were to start a business again and were no longer allowed to develop infrastructure, he might research options. He believes that HIP-4 is an obvious way to build an options protocol, inheriting spot, order book, and portfolio margin, and using perpetual contracts to hedge option Delta.
Bitmine Chairman Tom Lee stated that the core driver of this crypto bull market may be stronger than previous cycles, because the potential market size brought by tokenization far exceeds the retail narratives of the past.
