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Hainan Local Financial Supervision Bureau: Beware of the chaos of "pseudo exchanges" and reiterate the prohibition of RWA tokenization business within the territory

According to Hainan Daily, the Hainan Provincial Local Financial Supervision Administration has issued a risk warning regarding trading venues. Recently, the Hainan Provincial Local Financial Supervision Administration learned from relevant channels that certain entities are promoting under names such as "Hainan International Data Asset Exchange," "Hainan Data Exchange," and "Hainan Marine Exchange," claiming to legally conduct businesses related to RWA (Real World Assets) and RDA (Real Data Assets).Market entities are conducting business in violation of regulations under the guise of trading venues without approval, which is suspected of illegal financial activities and endangers public property safety. In response, the Hainan Provincial Local Financial Supervision Administration has the following risk warnings:Currently, there is no approved establishment of the "Hainan International Data Asset Exchange" within our province. The establishment of trading venues in our province must be approved by the provincial government (the list of approved trading venues can be found in the appendix). Without approval from the competent authorities, market operators are not allowed to use terms such as "exchange" or "trading center" in their registered names, nor can they engage in activities related to trading venues.The People's Bank of China, the China Securities Regulatory Commission, and eight other departments jointly issued a notice on further preventing and addressing risks related to virtual currencies, clearly stating that the regulation of the tokenization of Real World Assets (RWA) follows the principle of "strictly prohibited domestically, strictly regulated overseas." It emphasizes that conducting tokenization activities of Real World Assets (RWA) within the country, as well as providing related intermediary and information technology services, is suspected of illegal activities such as unauthorized issuance of token vouchers, unauthorized public issuance of securities, illegal operation of securities and futures businesses, and illegal fundraising, which should be prohibited.We urge investors to establish a correct investment perspective.

BitMine increased its holdings by 60,976 ETH last week, and Tom Lee reiterated that we are currently in the late stage of a "small bear" market

According to official news, Bitmine announced today that the total value of its cryptocurrency, cash, and "high-risk, high-return investment projects" amounts to $10.3 billion. As of March 8, 2026, at 4:00 PM Eastern Time, the company's held crypto assets include:4,534,563 ETH195 Bitcoin$200 million in Beast Industries equity$14 million in Eightco Holdings equityA total cash amount of $1.2 billion.Bitmine Executive Chairman Thomas "Tom" Lee stated, "This week, against the backdrop of war concerns and soaring oil prices, the price of Ethereum has shown resilience. We continue to believe that crypto prices are in the late/final stages of a 'mini crypto winter'." He cited analysis from Bitmine advisor Tom DeMark, noting that the price trend of ETH is highly correlated with the S&P 500 index in the fall of 2011 and the fall of 1987 (with correlations of 89% and 93%, respectively). If this analogy holds, the price of ETH is expected to bottom out slightly below the recent low of $1,740 between March 8 and 14.Lee revealed that in the past week, Bitmine has accelerated its accumulation of ETH, adding 60,976 ETH, which is above the previous weekly average of 45,000 to 50,000. "As the saying goes, no one rings the bell at the bottom, so Bitmine's strategy is to slightly speed up the accumulation pace." As of March 8, Bitmine has staked a total of 3,040,483 ETH, valued at $6 billion, accounting for 67% of its total holdings.
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