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Blockchain

Zhao Changpeng, founder and former CEO of Binance. Photo: Reuters

Blockchain

‘The King is back’: Binance billionaire CZ plots life after prison

The founder of the world’s largest cryptocurrency exchange talks about his four-month incarceration, future plans, and more.

US set to ease crypto regulatory crackdown under Trump

Trump election victory cheers up China’s cryptocurrency proponents

Blockchain

Bitcoin hits record price after Trump takes early lead in US election

The original cryptocurrency jumped past US$75,000 on Tuesday night in the US, topping a record set in March.

Representations of bitcoin seen in this illustration picture taken in Paris on March 9. Photo: Reuters
Representations of bitcoin seen in this illustration picture taken in Paris on March 9. Photo: Reuters

Blockchain

Binance founder CZ says will not return to crypto exchange after imprisonment

Zhao Changpeng said he does not ‘have any need to go back’ to the world’s largest cryptocurrency exchange, although he remains the largest shareholder.

Blockchain

Chainlink makes a case for blockchain-driven finance at SmartCon in Hong Kong

As Chainlink touts its technology that has brought blockchain transfers to the Swift network, geopolitical scrutiny is growing in the space.

Blockchain

Hong Kong crypto ETFs see tepid investor demand even as bitcoin prices surge

Bitcoin’s price jumped 7.84 per cent over the past five days and 12 per cent over the past month, ahead of the US presidential election.

A Bitcoin Accepted Here sticker is seen at Pubkey Bar on February 29, 2024 in New York City. Photo: Getty Images via AFP

Blockchain

Circle CEO envisions stablecoins playing greater role in trade settlements

Jeremy Allaire envisions a ‘global network of stablecoins’ enabling ‘better, faster, cheaper’ transactions for emerging markets trading through Hong Kong.

Circle CEO Jeremy Allaire discusses the potential of stablecoins on the first day of Hong Kong FinTech Week 2024 on Monday. Photo: Hong Kong FinTech Week
Circle CEO Jeremy Allaire discusses the potential of stablecoins on the first day of Hong Kong FinTech Week 2024 on Monday. Photo: Hong Kong FinTech Week

Blockchain

Ant CEO Eric Jing touts tokenisation benefits for cross-border transactions

Tokenisation is a major focus of FinTech Week this year, in addition to AI, as Web3 in Hong Kong looks beyond ‘speculative’ cryptocurrencies.

Markets

HKEX’s virtual asset index launch is a boost for Hong Kong’s crypto hub ambitions

The index series, launching on November 15, will offer benchmarks for bitcoin and ether.

Blockchain

US charges crypto firms and staff with fraud, including 2 from Hong Kong

Prosecutors say the defendants engaged in sham trades to artificially inflate the trading volume of cryptocurrency tokens.

Defendants of a US fraud case are charged with manipulating the value of various cryptocurrencies. Photo: Reuters

Blockchain

Hong Kong firm HKVAX gets approval to run city’s third cryptocurrency exchange

Local firm Hong Kong Virtual Asset Exchange aims to offer over-the-counter trading, exchange and custody services.

videocam
The new cryptocurrency exchange licence granted to HKVAX shows Hong Kong’s resolve to build up its virtual-asset industry. Photo: Shutterstock
The new cryptocurrency exchange licence granted to HKVAX shows Hong Kong’s resolve to build up its virtual-asset industry. Photo: Shutterstock

Blockchain

FinTech Week highlights AI, Chinese companies as Web3 hype fades

Two years after showcasing Hong Kong’s crypto pivot, FinTech Week organisers say the event can serve as an incubation platform for frontier technologies.

Blockchain

Former Chinese finance official urges crypto research as US softens stance

Former finance vice-minister Zhu Guangyao called cryptocurrencies a ‘crucial aspect for the development of the entire digital economy’.

Banking & Finance

Hong Kong to explore 11 use cases in phase 2 of e-HKD pilot

This phase of the HKMA’s digital currency programme will focus on efficiency and whether the e-HKD attracts and entices users, deputy CEO Howard Lee says.

The HKMA on Monday launched the second phase of the e-HKD pilot. Photo: HKGCC

Blockchain

Hong Kong sees biggest uptick in cryptocurrency activity in East Asia: report

The city rose to 30th place, up from the No 47 spot last year, in this year’s Global Cryptocurrency Adoption Index rankings by Chainalysis.

Hong Kong saw an 85.6 per cent year-on-year surge in cryptocurrency transaction value, the largest growth seen in East Asia, according to a report by research firm Chainalysis. Photo: Shutterstock
Hong Kong saw an 85.6 per cent year-on-year surge in cryptocurrency transaction value, the largest growth seen in East Asia, according to a report by research firm Chainalysis. Photo: Shutterstock

Blockchain

Exclusive | Hong Kong weighs new OTC crypto scheme with SFC

A previous proposal had OTC cryptocurrency shops under the excise department, but some complained about confusing virtual asset rules, sources say.

Blockchain

The Google of Web3? Ant’s Zan blockchain plans to make it happen

The head of the year-old blockchain venture says he aims to leverage Hong Kong’s supportive environment to build a critical Web3 services company.

Banking & Finance

Hong Kong’s launch of wCBDC sandbox takes it closer to tokenised market

Six participants, including HSBC, Standard Chartered and Bank of China (Hong Kong), showcased test cases that will be explored to boost scale and interoperability.

The HKMA has launched a wholesale central bank digital currency sandbox, which will test a new financial market infrastructure that facilitates all the stages of a tokenised asset transaction. Photo: Shutterstock

Blockchain

Crypto exchange HashKey opens two new tokens to retail investors

The cryptocurrencies, among the top 20 but not household names, were chosen because some bigger tokens face legal disputes, CEO Livio Weng says.

The booth of HashKey Group, one of two licensed cryptocurrency exchanges in Hong Kong, seen at the city’s Web3 Festival in April 2024. HashKey started offering two new tokens beyond bitcoin and ether to retail investors on Wednesday. Photo: Handout
The booth of HashKey Group, one of two licensed cryptocurrency exchanges in Hong Kong, seen at the city’s Web3 Festival in April 2024. HashKey started offering two new tokens beyond bitcoin and ether to retail investors on Wednesday. Photo: Handout

Tech Trends

Binance hiring 1,000 new staff as firm’s compliance spending tops US$200 million

The world’s largest cryptocurrency exchange plans to have a 700-strong compliance workforce by the end of 2024, up from about 500 at present, according to CEO Richard Teng.

Blockchain

China’s money laundering crackdown puts crypto investors, USDT traders at risk

China’s highest court says use of virtual assets to transfer criminal proceeds is among a range of money laundering methods on the mainland.

Blockchain

Web3 firm Animoca Brands trading for as little as a quarter of last valuation

Yat Siu, chairman of the blockchain video gaming firm, said secondary market trading does not accurately reflect the value of the Hong Kong-based company.

Animoca Brands is trading on secondary markets at a valuation that is at least half what it was valued at two years ago, founder Yat Siu said. Photo: Shutterstock
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