The Hong Kong digital asset exchange OSL announced that it has signed a subscription agreement with Crown Research, wholly owned by Liu Shuai, to subscribe for up to 47,518,000 new shares at HKD 14.9 per share, raising over HKD 700 million. After the subscription, Crown Research will hold nearly 30% of OSL's shares. OSL plans to use 50% of the funds for strategic acquisitions and to implement stablecoin issuance and payment business.

According to Gate.io News bot, CoinDesk reports that the TON Foundation has officially announced Maximilian Crown, co-founder of MoonPay, as the new Chief Executive Officer. Before joining the TON Foundation, Crown served as Chief Operating Officer and Chief Financial Officer at MoonPay, accumulating rich experience in banking, payment, and regulatory cooperation. He will continue to retain his position as a member of the MoonPay board. This appointment comes just a month after the TON Foundation secured a $400 million investment. The funds were provided by venture capital firms that purchased TON tokens, aimed at advancing the global development of the TON blockchain.