Hong Kong’s Police Cyber Crime Bureau warned after a 66-year-old retiree lost HK$6.6 million to three cryptocurrency scams. He was first contacted in September 2025 by a fraudster posing as a cryptocurrency expert who promised guaranteed profits and convinced him to invest, resulting in HK$1.4 million being transferred before he realized the deception. Undeterred, he paid a 600,000 yuan deposit to another fraudster posing as an expert to recover his losses, but that scammer disappeared. In January, another scammer claimed to recover the losses and instructed him to buy 4.6 million yuan in cryptocurrency; the scammer vanished again, leaving him with his life savings wiped out.
Grayscale filed with the U.S. Securities and Exchange Commission to launch an ETF tied to Hyperliquid’s native token, HYPE. The proposed Grayscale HYPE ETF would let investors gain exposure to the token’s price movement without holding the token directly, and it would initially track HYPE with the potential for staking added later. Hyperliquid is described as a blockchain platform focused on decentralized perpetual futures trading. Grayscale’s move adds to growing interest in crypto ETFs beyond Bitcoin and Ethereum.
Progress on the CLARITY Act is moving forward as lawmakers near a tentative agreement on stablecoin yield. The proposed deal would address concerns over stablecoin yield and its potential impact on bank deposits, and if enacted could regulate how stablecoin issuers offer yields to holders. The agreement aims to protect innovation while limiting the risk of deposit flight from the banking system, potentially signaling a significant step forward in regulating digital assets and stabilizing the U.S. crypto market.
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