Crypto Biz: Ledger halts recovery service, Web3 in Hong Kong, and another CEX goes down
This week’s Crypto Biz explores Hotbit’s closure, Hong Kong’s licensing of crypto firms, Bitstamp’s acquisition by Ripple and Ledger’s branding crisis.
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Huobi to Launch Hong Kong Venue on June 1: Report
Huobi Global announced gearing up for the launch of its Hong Kong division on June 1st for users in the city-state. The expansion comes in the backdrop of the Hong…
Crypto Investment Fund HashKey in Talks to Raise $200M at $1B Valuation (Report)
As Hong Kong takes center stage in the regional crypto business, local firms are trying to expand their customer base. One such firm, HashKey Group, is reportedly raising up to…
Ripple to demonstrate tokenization in HKMA e-HKD pilot program using new CBDC platform
The Hong Kong Monetary Authority is looking at retail CBDC use cases, such as the equity release of tokenized real estate assets with Ripple’s new CBDC product.
China state-owned Greenland to apply for Hong Kong virtual asset trading license
The real estate developer’s fintech unit already has a digital banking license in Singapore; “We are ready to step into Hong Kong,” CEO says.
State-sponsored Chinese AI firm launches bot service to ‘surpass’ ChatGPT
Chinese tech company iFlytek recently made waves with the launch of its “Spark Model,” an AI system it says will surpass ChatGPT by the end of the year.
China’s crypto stance unchanged by moves in Hong Kong, says exec
Crypto developments in Hong Kong do not mean China has softened or will soften its approach to regulating Bitcoin.
Hong Kong authorities remind banks not to be too hasty in rejecting digital asset clients
Increasing familiarity with virtual assets clients will make Anti-Money Laundering measures easier with time, and the firms should be treated reasonably, the HKMA says.
OPNX CEO scolds claimed backers after some deny investing in the firm
OPNX chief Leslie Lamb called out a number of venture capital firms on Twitter after some rushed to distance themselves from the company.
Despite regulatory clarity, Hong Kong crypto ETFs experience lukewarm demand
The daily trading volume of all Hong Kong crypto ETFs averaged about $1.19 million between December and early February.
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