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Cryptocurrency

Chinese-born cryptocurrency founder Justin Sun eats a banana artwork, composed of a fresh banana stuck to a wall with duct tape, in Hong Kong on November 29, 2024, a week after buying the provocative work of conceptual art at a New York auction for US$6.2 million. Photo: AFP
Art

Chinese-born buyer of US$6.2 million banana art eats it in Hong Kong

Cryptocurrency entrepreneur Justin Sun praises artist for creating Comedian artwork, before downing it on live stream at The Peninsula hotel.

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Bitcoin

Justin Sun invests US$30 million in Trump crypto tokens after banana artwork deal

Hong Kong stock market

Chinese game developer Boyaa rides bitcoin boom; Hong Kong shares rise ninefold

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Blockchain

Bitcoin’s march towards historic US$100,000 level stalls

‘Bitcoin was extremely overbought since the election,’ one analyst says.

Bitcoin hovered near US$97,000 early in Asia on Monday. Photo: AP Photo
China’s Communist Party

First cryptocurrency corruption case in China is former central bank official

Yao Qian is accused of abusing his position at the China Securities Regulatory Commission in a ‘severe breach of duty’.

Blockchain

Bitcoin hits US$97,000 as crypto sector seeks White House post

The world’s largest digital asset reaches an all-time high in Asia on Thursday.

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United States

Sam Bankman-Fried’s ex-deputy Gary Wang spared prison time over FTX fraud

Wang cooperated with the prosecution and testified in the trial that led to Bankman-Fried’s conviction on fraud and other charges.

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Former FTX executive Gary Wang attends his sentencing on fraud charges in New York on Wednesday. Photo: Reuters
Digital currencies

Shanghai court says crypto ownership legal in China amid bitcoin price surge

In an opinion on a recent lawsuit, a Shanghai judge wrote that cryptocurrencies have the attributes of property and thus holding it is legal.

Banking & finance

‘Money in motion’ as top financiers discuss diversification at Hong Kong summit

The Global Financial Leaders’ Investment Summit will be back for a fourth year next November, HKMA CEO Eddie Yue says.

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Digital currencies

Hong Kong bitcoin ETFs finally see trading surge after Trump bump in the US

The city’s three spot bitcoin ETFs became active trading targets this week, with US$17 million trading hands on Tuesday.

People stand next to bitcoin ATMs outside a cryptocurrency exchange in Hong Kong on November 14. Photo: AFP
Bitcoin

Trump’s crypto pledge may see China restore digital-asset market: HashKey head

HashKey chairman and CEO Xiao Feng said a number of factors may compel mainland China to open its digital-asset market in about two years.

Beijing has so far given no indication of potentially relaxing its ban on cryptocurrencies, even as Donald Trump’s US election win renews enthusiasm among digital-asset proponents in China. Photo: Shutterstock
Bitcoin

Trump election victory cheers up China’s cryptocurrency proponents

These crypto proponents expect a bright future for digital assets and related policies on the mainland and Hong Kong.

Digital currencies

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.

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
Hong Kong courts

Hong Kong court orders HK$1.85 million recovery in first civil suit against JPEX

District Court rules platform breached its duty, ‘wrongfully’ transferred away plaintiffs’ assets to other unknown crypto wallets.

JPEX advertisements in an MTR station in 2023. Photo: Handout
Ant Group

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.

Banking & finance

Opinion | Why digitising financial pipelines is essential for global prosperity

Improving digital payments, especially across borders, will make every aspect of global commerce easier and more accessible.

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Banking & finance

Letters | Hong Kong is playing the long game in digital asset regulation

Readers discuss the city’s ambition to be a regulatory hub for institutional digital assets, the difficult road to Mandarin competency, and supermarket shrinkflation.

A view of the financial district in Hong Kong in 2021. Photo: Reuters
Israel-Gaza war

Letters | World must seize chance for peace following Sinwar’s death

Readers discuss the potential for a breakthrough in the Middle East war, the prospects of bitcoin and what Hong Kong can do to better serve its caregivers.

ChatGPT and other generative AIs

Sam Altman’s rebranded Worldcoin ramps up iris-scanning crypto project

World Network, which is facing scrutiny over its data collection, introduced a new version of its orb iris-scanning device on Thursday,.

Hong Kong

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.

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

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.

Signage at Hong Kong FinTech Week 2021 at the Convention and Exhibition Centre in Wan Chai. As hype around cryptocurrencies and blockchain fades, the show’s organisers see AI tech from the mainland taking centre stage. Photo: Shutterstock
Digital currencies

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’.

Crime in Hong Kong

Hong Kong scammers use fraudulent crypto shops to rob 13 of HK$14.8 million

Police say scammers offer better exchange rates to attract targets, lure victims to make legitimate trades before making off with large sum.

Singapore

Singaporean living in Miami among 2 charged in US$230 million bitcoin theft

Malone Lam and Jeandiel Serrano allegedly spent the proceeds on nightclubs, luxury automobiles, watches and jewellery.

The suspects laundered the stolen bitcoin through various mixers and exchanges. Photo: Reuters
Hong Kong

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
Video gaming

Opinion | Will China’s latest crypto crackdown stifle its gaming industry?

New legal guidelines that classify cryptocurrency transactions as money laundering put digital assets used in popular games in a grey area.

Digital currencies

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.

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Cryptocurrency
News and analysis about non-fiat, decentralised assets used as digital currencies, including bitcoin, ether, altcoins and stablecoins.
last updated:
9 September, 2024
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