**Hot Topics:** Today’s market saw the launch of a new Korean won-pegged stablecoin on Base and insights into Hong Kong’s approach to digital assets. JPMorgan debuted its blockchain-based fund settlement system, while Bitcoin dipped slightly amidst regulatory uncertainty, and Solana witnessed notable volatility following new ETF listings. Here’s a quick recap:** 🧠 **IQ and Frax** launched the first KRWQ stablecoin on Base, utilizing LayerZero for multichain compatibility. This groundbreaking development remains unavailable in Korea. Meanwhile, Hong Kong’s Securities and Futures Commission (SFC) is examining digital asset treasuries, cautioning about high premiums and promising investor education programs and potential guidelines. 💼 **JPMorgan** debuted its Kinexys Fund Flow system, facilitating real-time private fund settlement through blockchain technology, marking a significant step in tokenization efforts with Citco as the first partner. 📈 **Bitcoin** traded around $109,000 despite the decline of U.S. ETF inflows and the Federal Reserve’s hawkish stance following its rate cut. 📉 Despite new spot ETFs being launched on Solana, the cryptocurrency experienced a sharp drop of 8%. Lastly, dYdX announced plans for a US entry by the end of 2025 with initial focus on spot trading and fees in the range of 50-65 basis points. This plan is contingent upon regulatory approvals for perpetual futures.**