Hong Kong Stocks Movement | Cryptocurrency Stocks Slide as Bitcoin Faces Volatility and a Stablecoin Glitch Surfaces in the US

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According to reports, cryptocurrency stocks collectively declined, with Memestrategy (02440) falling 4.36% to HKD 2.63; Grandshores (01647) down 4.3% to HKD 0.089; OSL Group (00863) falling 3.99% to HKD 15.66; and OKG Tech (01499) down 3.51% to HKD 0.275. On the news front, Thursday's closing in New York saw the CME Bitcoin futures BTC main contract drop 3.10% from Wednesday's close, approaching $108,000. According to Wall Street observations, the Bitcoin market is experiencing double pressure. Options market data indicates a surge in demand for put options, with traders willing to pay higher premiums to hedge downside risks. Additionally, Bitcoin miners deposited approximately 51,000 Bitcoins onto exchanges in the past week, marking a new high in months, potentially preparing for sales. Furthermore, a report stated that around 3 AM Beijing time on Thursday, the cryptocurrency market witnessed a bizarre appearance and swift disappearance of a $300 trillion stablecoin. Paxos, a crypto partner of PayPal, minted 300 trillion PayPal stablecoins (PYUSD) on the Ethereum blockchain, with a paper value corresponding to $300 trillion. Transaction records show that Paxos subsequently minted 300 million PYUSD as usual. The nature of this incident is clear: Paxos mistakenly typed 300 million (300 million) as 300 trillion (300 trillion).

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The nature of this incident is clear: Paxos mistakenly typed 300 million (300 million) as 300 trillion (300 trillion).</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hong Kong Stocks Movement | Cryptocurrency Stocks Slide as Bitcoin Faces Volatility and a Stablecoin Glitch Surfaces in the US</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHong Kong Stocks Movement | Cryptocurrency Stocks Slide as Bitcoin Faces Volatility and a Stablecoin Glitch Surfaces in the US\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036600163\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock News </p>\n<p class=\"h-time\">2025-10-17 10:50</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>According to reports, cryptocurrency stocks collectively declined, with Memestrategy (02440) falling 4.36% to HKD 2.63; Grandshores (01647) down 4.3% to HKD 0.089; OSL Group (00863) falling 3.99% to HKD 15.66; and OKG Tech (01499) down 3.51% to HKD 0.275. On the news front, Thursday's closing in New York saw the CME Bitcoin futures BTC main contract drop 3.10% from Wednesday's close, approaching $108,000. According to Wall Street observations, the Bitcoin market is experiencing double pressure. Options market data indicates a surge in demand for put options, with traders willing to pay higher premiums to hedge downside risks. Additionally, Bitcoin miners deposited approximately 51,000 Bitcoins onto exchanges in the past week, marking a new high in months, potentially preparing for sales. Furthermore, a report stated that around 3 AM Beijing time on Thursday, the cryptocurrency market witnessed a bizarre appearance and swift disappearance of a $300 trillion stablecoin. Paxos, a crypto partner of PayPal, minted 300 trillion PayPal stablecoins (PYUSD) on the Ethereum blockchain, with a paper value corresponding to $300 trillion. Transaction records show that Paxos subsequently minted 300 million PYUSD as usual. 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