Welcome to The Daily Crypto Briefing, here are today's headlines! In today's episode, we're diving into the latest developments shaking up the cryptocurrency landscape. We'll cover the recent wave of market liquidations, Hong Kong's groundbreaking move on regulated crypto staking, former Binance CEO CZ's surprising new role, Metaplanet's early bond repayment, Bitcoin's hashrate milestone, and other significant market movements. The crypto market experienced a significant shake-up with over $400 million in liquidations across major exchanges in the past 24 hours. This volatility spike caught many traders off guard, with Bitcoin positions accounting for approximately 60% of all liquidated positions. The majority were long positions, suggesting many investors were betting on continued upward momentum before the market reversed course. Analysts attribute this correction to a combination of profit-taking after recent gains and macroeconomic concerns affecting risk assets broadly. This serves as a reminder of the inherent volatility in cryptocurrency markets and the importance of risk management for traders. In regulatory developments, Hong Kong has taken a progressive step by approving regulated crypto staking services. The Securities and Futures Commission announced that licensed virtual asset trading platforms can now offer staking products to retail investors, provided they meet strict compliance requirements. This move positions Hong Kong as increasingly crypto-friendly amidst a global landscape of regulatory uncertainty. Industry experts suggest this could attract significant capital and talent to the region, potentially establishing Hong Kong as a key hub for cryptocurrency innovation in Asia. The decision reflects a balanced approach between fostering innovation and ensuring consumer protection. Former Binance CEO Changpeng Zhao, widely known as "CZ," has joined Pakistan's Crypto Advisory Council despite his ongoing legal troubles in the United States. This unexpected move comes as Pakistan explores potential frameworks for cryptocurrency regulation and blockchain technology adoption. CZ's appointment signals the country's serious intentions regarding cryptocurrency integration into its financial ecosystem. The council is expected to provide guidance on developing regulatory frameworks that could potentially transform Pakistan's financial landscape while addressing concerns about illicit financial activities. This development demonstrates how even amid personal legal challenges, CZ continues to influence global crypto policy. In corporate news, Metaplanet has made headlines by repaying its bonds several months ahead of schedule. The company announced it has fully settled its outstanding debt obligations, demonstrating strong financial health despite market turbulence. This early repayment has impressed investors and analysts alike, as it counters the narrative of financial stress in the crypto sector. The company attributes this achievement to strategic portfolio management and revenue diversification initiatives implemented over the past year. This positive signal may help restore confidence in crypto-focused businesses following a period of high-profile failures. Bitcoin's network security reached an unprecedented level as the hashrate hit a new all-time high this week. The total computing power securing the Bitcoin network has surpassed 500 exahashes per second, representing massive investment in mining infrastructure despite last year's mining reward halving. This growing hashrate indicates strong miner confidence in Bitcoin's long-term value proposition and enhances the network's resistance to potential 51% attacks. Mining experts suggest this trend reflects the industry's adaptation to post-halving economics and possibly signals expectations of future price appreciation. That concludes our Daily Crypto Briefing for today. The crypto landscape continues to evolve rapidly with significant developments in market ac