Ethereum Faces Intense Challenges with Liquidations

PANews reported on September 23rd that, according to CoinDesk, Boerse Stuttgart Digital, the cryptocurrency business unit of Germany's Stuttgart Stock Exchange Group, announced on Tuesday that it has established a new office in Madrid, Spain, officially entering the Spanish market. This move expands its European presence to eight centers, including Frankfurt, Zurich, and Milan. Earlier this year, the company received Europe's first full-territory license under the Markets in Crypto-Assets Regulation (MiCAR) from Germany's Federal Financial Supervisory Authority (BaFin), providing cryptocurrency trading and custody solutions to banks, brokers, and asset managers.

The post China Launches Cross-Border QR Code Payment Trial appeared on BitcoinEthereumNews.com. Key Points: Main event involves China initiating a cross-border QR code payment trial. Alipay and Ant International are key participants. Impact on financial security and regulatory focus on illicit finance. China’s central bank, led by Deputy Governor Lu Lei, initiated a trial of a unified cross-border QR code payment gateway with Alipay and Ant International as participants. This pilot addresses cross-border fund risks, aiming to enhance financial security amid rising money laundering through digital channels, despite muted crypto market reactions. China’s Cross-Border Payment Gateway Trial with Alipay The trial operation of a unified cross-border QR code payment gateway marks a milestone in China’s financial landscape. Prominent entities such as Alipay and Ant International are at the forefront, participating as the initial institutions in this venture. Lu Lei, Deputy Governor of the People’s Bank of China, highlighted the systemic risks posed by increased cross-border fund flows. Changes are expected in the dynamics of digital transactions, potentially enhancing transaction efficiency while tightening regulations around illicit finance. The initiative underscores China’s commitment to bolstering financial security amidst growing global fund movements. “The scale of cross-border fund flows is expanding, and the frequency is accelerating, providing opportunities for risks such as cross-border money laundering and terrorist financing. Some overseas illegal platforms transfer funds through channels such as virtual currencies and underground banks, creating a ‘resonance’ of risks at home and abroad, posing a challenge to China’s foreign exchange management and financial security.” — Lu Lei, Deputy Governor, People’s Bank of China Bitcoin and Impact of China’s Financial Initiatives Did you know? China’s latest initiative echoes the Payment Connect project of June 2025, furthering real-time cross-boundary remittances and expanding its influence on global financial systems. As of September 17, 2025, Bitcoin (BTC) stands at $115,748.72 with a market cap of $2.31 trillion, showing a 0.97%…

PANews reported on September 23rd that according to CoinDesk, Hyperliquid, once a leading player in the on-chain perpetual swap market, is gradually being overtaken by emerging platforms such as Lighter and Aster, resulting in a decline in market share. According to Dune data, Hyperliquid's market share of the on-chain cryptocurrency perpetual swap market reached 71% in May of this year, but has now fallen to 38%. Meanwhile, Lighter and Aster's market shares have increased from low single-digit percentages in May to 16.8% and 14.9%, respectively. The on-chain perpetual swap market is experiencing rapid growth. Over the past four weeks, cumulative trading volume across all platforms has approached $700 billion, with $42 billion traded in the last 24 hours alone. The number of on-chain perpetual swap protocols has rapidly increased from just two in 2022 to over 80 today. This growth demonstrates the vitality of the market: a thriving market attracts numerous new participants, intensifying competition and challenging the market share and profitability of early entrants.