PANews

The article analyzes the four stages of the global liquidity cycle, emphasizing the importance of following liquidity in asset allocation. The current stage is a stable phase, with expectations of a gradual shift towards easing in the future. The article points out key signals, such as the inflation rate and the pause in quantitative tightening, indicating changes in market liquidity, and advises investors to follow these dynamics to optimize asset allocation.

Editor’s Note: On July 3, the South China Morning Post website published an article by Cobo COO Lily Z. King, which deeply analyzes how Hong Kong is seizing the initiative in the global tokenization competition. The article points out that as the tokenization of real-world assets (RWA) accelerates into the mainstream, Hong Kong is building a new generation of financial infrastructure with a clear regulatory framework, open market strategies, and proactive policy innovations. In the second half of this competition, the key will no longer be policy direction but whether products truly meet market demands.
On July 8, Lily Z.King at the Deloitte Digital Assets Forum in Hong Kong
Participants include officials from the Hong Kong Financial Services and the Treasury Bureau, the Securities and Futures Commission, the Legislative Council, and the Monetary Authority, as well as industry organizations.
BlackRock Chairman Larry Fink

Author: Alex Liu, Foresight News
On the evening of July 10, Yzi Labs announced a strategic investment in Aspecta. This article aims to briefly interpret Aspecta – which seeks to establish on-chain standards and trust mechanisms for "illiquid assets" in traditional capital markets, including the project's design logic, product system, application progress, and industry potential.
Team Background
In terms of team background, Aspecta did not start from scratch. The project was launched in 2022 at Yale University's Tsai CITY (Tsai Center for Innovative Thinking at

The development of the Renminbi stablecoin can adopt a model that combines both domestic and foreign elements, integrating domestic and foreign regulations with market demand, while exploring innovation simultaneously in the Shanghai Free Trade Zone and Hong Kong. This model aims to enhance the international status of the Renminbi, strengthen financial security, and promote the formulation of relevant laws and regulations to address the challenges posed by global stablecoins.

Author: Zen, PANews
Once one of the main application directions of cryptocurrencies and Web3, Web3 games are currently experiencing a severe winter. Not only have many small and medium-sized Web3 game studios come to a halt, but the market value of the leading company Immutable's token has also fallen out of the top one hundred. In the investment and financing market, it has been a long time since a Web3 game project raised significant funds, and the related narrative seems to have gone bankrupt.
However, against this backdrop, the independent game studio Distinct Possibility Studios (abbreviated as DPS) recently completed a financing round of $30.5 million, a remarkably high amount in the current Web3 gaming industry. This round of financing was co-led by the gaming-focused venture capital firm Bitkraft and the European hedge fund Brevan Howard, with participation from