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Odaily News: Hong Kong LegCo member for the Technology and Innovation sector, Duncan Chiu, released a policy proposal titled "'3+3 Collaborative Development Blueprint' - Hong Kong's Innovative Path to Integrate into the Nation's Future Industries," recommending that the Securities and Futures Commission (SFC) establish an independent department dedicated to digital assets, and proposing to build Hong Kong into an international digital asset hub by 2032. The blueprint also includes building an early-stage investment channel for Web3 finance, exploring the establishment of a "Hong Kong version of Web3 Pinksheet" for over-the-counter fundraising mechanisms, and promoting the tokenization of real-world assets (RWA) and tokenized stocks.

Odaily News: Renzo Protocol has rebranded as Renzo Finance and expanded into on-chain structured yield products, with its first product, Renzo Basis, now live on Hyperliquid. The product automates basis trading strategies by simultaneously holding spot long and perpetual short positions, allowing users to earn yield through funding rates. It initially supports BTC and HYPE, with plans to support all assets on Hyperliquid that have both spot and perpetual markets. Renzo founder Lucas Kozinski stated that Renzo Basis is fully on-chain, self-custodial, and customizable, enabling users to choose their own assets and risk parameters.

Odaily News: AI wealth management company Savvy Wealth has completed a $100 million Series C funding round, led by Halo Fund, with participation from existing investors including Thrive Capital, Industry Ventures, and Index Ventures. The total cumulative funding has exceeded $200 million, and the valuation has risen to $600 million. The company manages $9 billion in client assets. Its AI platform, Savvy Intelligence, trains AI agents based on large language models from OpenAI and Anthropic, integrating investment, tax, and financial planning data to streamline the wealth management process. The new funds will primarily be used to expand the development of software products for wealth advisors. (Wealthmanagement)

Odaily News: According to on-chain analyst Yu Jian's monitoring, an address purchased 919.4 LAPTOP meme tokens at $217.5 each about 55 minutes ago, investing approximately 200,000 USDC.

Just 50 minutes later, LAPTOP's price had dropped to $4.4, reducing the address's position value by 98% to about $4,045, with an unrealized loss of approximately $196,000, making it one of the worst-hit addresses on LAPTOP known so far.

Odaily News: According to GMGN data, Hunter Biden's Meme coin LAPTOP briefly fell below $5, down approximately 97% from its post-launch high.

Odaily reminds users that Meme coins are highly volatile, and investors should participate with caution.

Odaily News: According to crypto trader Rune's monitoring, abnormal transactions have occurred with the LAPTOP token. A new wallet (0x8DA...A18d) claimed 4,276 LAPTOP tokens for free and then sold them, cashing out approximately $400,000.

More notably, this wallet subsequently transferred 0.02 ETH to another new wallet (0xc27...b591), which also claimed 4,276 LAPTOP tokens for free and immediately sold them after the price dropped due to the previous sale, cashing out approximately $200,000.

Both wallets are new addresses, and the claimed amounts are exactly the same. The first wallet also provided ETH to the second wallet, indicating highly correlated on-chain behavior. The community has raised questions about potentially linked addresses or coordinated selling.

Odaily News: Bonk Guy has issued a scathing critique of the token project associated with Hunter Biden's "LAPTOP," stating that after further observation following the token's launch, the project clearly exhibits speculative behavior that "only seeks to extract profits while knowing little about the crypto industry."

Bonk Guy particularly questioned the token's fully diluted valuation (FDV) of up to hundreds of billions of dollars after its launch, calling the valuation "absurd." He also questioned why Hunter Biden himself has become the narrative focus of the crypto market, noting that Hunter Biden's public attention largely stems from the controversies he sparked during his father Joe Biden's presidency, and that the Biden administration generally adopted a relatively tough regulatory stance toward the crypto industry during its tenure.

Bonk Guy concluded with a warning that investors buying this token at its current valuation face extremely high risks, stating that "anyone who buys it deserves to lose 100% of their money."

Odaily News: According to on-chain analyst Ai Yi's monitoring, P Marshal (0xa50...282f) cleared his position 4 minutes ago, ultimately making a profit of $970,000, with a return rate of 387.4%. The buy price was $27.383, and the average sell price was $133.7. This address has been active on the Base network, but its past performance on Base has been mediocre.

Odaily News: According to Onchain Lens monitoring, a trader bought 1.497 million PONS over 9 days, spending approximately 378.23 ETH (about $936,000), and then sold all of them, receiving about 473 ETH (approximately $1.17 million), making a profit of about 94.77 ETH (approximately $234,800), with a return rate of 25.06%.