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Financial Secretary Paul Chan speaks at the Hong Kong Web3 Festival on April 7, touting the city’s commitment to the blockchain industry amid recent turmoil. Photo: Handout
Digital currencies

Hong Kong remains upbeat on Web3 amid crypto market turmoil from US tariffs

Officials again touted the strength of the local Web3 industry, while Binance founder CZ avoided the event despite recent activity in the city.

Cryptocurrency

Bitcoin, ether rout extends as tariff war pain batters cryptocurrency assets

Blockchain

Hong Kong lawmaker calls for support of Web3 sector as Tron founder flags fraud

Artificial intelligence

Hong Kong crypto firm HashKey jumps on AI bandwagon, joining Web3 players

HashKey’s first AI product is designed for content moderation, but it envisions a future of AI agents trading on blockchain on behalf of users.

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Hong Kong-based cryptocurrency exchange operator HashKey is joining the artificial intelligence race with a product designed for content moderation. Photo: Shutterstock
Hong Kong-based cryptocurrency exchange operator HashKey is joining the artificial intelligence race with a product designed for content moderation. Photo: Shutterstock
Cryptocurrency

Bitcoin, other cryptocurrencies succumb to risk-asset slump amid Trump tariffs

For bitcoin, which fell as much as 4 per cent to about US$82,000 on Thursday, US$80,000 is a ‘must-hold’ level, cryptocurrency analysts say.

Cryptocurrency

US cryptocurrency exchange Coinbase sees worst quarter since FTX collapse

Nearly every major firm linked to cryptocurrencies were hammered this quarter, as concerns about the US economy weighed on digital assets.

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Banking & finance

Hong Kong to get world’s first tokenised money-market ETFs from Bosera, HashKey

Bosera HKD Money Market ETF and USD Money Market ETF, which have been approved by the SFC, are set to launch in April.

Tokenised money market ETFs are one of the use cases in the HKMA’s Project Ensemble sandbox. Photo: Shutterstock
Tokenised money market ETFs are one of the use cases in the HKMA’s Project Ensemble sandbox. Photo: Shutterstock
Cryptocurrency

Most memecoins will end up ‘worthless’, Ark Investment CEO Cathie Wood says

Wood pointed out that some of these digital tokens will ‘withstand the judgment of time’, and Donald Trump’s memecoin may be one of them.

Cryptocurrency

Bitcoin, ether stagger as US stock sell-off weighs on cryptocurrencies

The initial declines on Tuesday came after a sell-off in US equities, led by technology stocks, picked up steam.

Blockchain

Ethereum co-founder Gavin Wood says Web3 is on track as finance firms move in

Wood’s newer project Polkadot is focused on scaling decentralised applications, with many developers coming from China.

Ethereum and Polkadot co-founder Gavin Wood. Photo: Matt Haldane
Digital currencies

Hong Kong’s dollar peg seen as advantage amid stablecoin growth

Stablecoin transactions are now a fifth of all cryptocurrency transactions, and they make it easier to transact in US dollar-backed assets.

As Hong Kong courts cryptocurrency business to the city, the local currency’s peg to the US dollar could be a standout advantage where stablecoins are concerned. Photo: Shutterstock
As Hong Kong courts cryptocurrency business to the city, the local currency’s peg to the US dollar could be a standout advantage where stablecoins are concerned. Photo: Shutterstock
Digital currencies

Trump wants the US to be the world’s crypto capital. Will China take notice?

The global impact of Trump’s cryptocurrency reserve and a White House summit on the asset will be watched, analysts say.

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Cryptocurrency

Bitcoin value dives as uncertainty grips global cryptocurrency market

Weighing on cryptocurrency prices was the Trump administration’s imposition of 25 per cent tariffs against Canada and Mexico.

Blockchain

Bitcoin up after Trump names cryptocurrencies in strategic reserve

The world’s largest cryptocurrency is up by more than 20 per cent from the November lows.

Bitcoin has soared following Trump’s announcement of a list of cryptocurrencies to be included in a new US strategic reserve. Photo: AFP
Blockchain

Hong Kong launches first retail tokenised money market fund in Web3 push

ChinaAMC’s Hong Kong dollar-denominated fund launched on the cryptocurrency exchange OSL and securities brokerage Solomon on Friday.

ChinaAMC is offering the first tokenised money market fund to retail investors in Hong Kong. Photo: Shutterstock
ChinaAMC is offering the first tokenised money market fund to retail investors in Hong Kong. Photo: Shutterstock
Digital currencies

US securities regulator files to dismiss Coinbase lawsuit

A court has separately paused the SEC’s lawsuit against Binance after a joint request, citing implications of the agency’s new crypto task force.

Blockchain

Bitcoin slides below US$90,000 as cryptocurrency sell-off hastens

Tumbling crypto prices mirror a broader retreat from risky assets, while sentiment has also soured following a hack targeting exchange Bybit.

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Digital currencies

Crypto exchange Bybit, hit by largest crypto theft ever, stokes sell-off

After exchange operator loses ether from a cold wallet in a North Korea-linked attack, bitcoin and ether fall as industry enthusiasm wanes.

Bybit said US$1.5 billion worth of ether was stolen in a “sophisticated attack” on one of its cold wallets. Photo: AP
Bybit said US$1.5 billion worth of ether was stolen in a “sophisticated attack” on one of its cold wallets. Photo: AP
Digital currencies

OKX crypto exchange operator enters US$505 million guilty plea, US says

Prosecutors said that from 2018 through early 2024, OKX was used to facilitate more than US$5 billion in suspicious transactions and criminal proceeds.

Banking & finance

Crypto derivatives missing from Hong Kong’s virtual-asset push, Deribit says

Dubai-based exchange aims to expand in the city as the regulator is set to consider letting professional investors trade crypto derivatives.

Blockchain

Consensus Hong Kong: regulators seek ‘global liquidity’ in crypto amid Web3 push

The SFC licensed its first international crypto exchange on Tuesday as it courts global business at major Web3 conference.

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Physical representations of bitcoin seen at Consensus Hong Kong, organised by CoinDesk, at the Convention and Exhibition Centre on Wednesday. Photo: AFP
Blockchain

Tokenisation a ‘defining trend’ in Hong Kong, official says at Consensus

Tokenisation will be ‘profoundly transformative’, Secretary for Financial Services Christopher Hui said, as companies pile into the burgeoning business.

HSBC Gold Token is the first such retail product to be issued by a bank in Hong Kong, according to HSBC, as the government pushes for the issuance of more tokenised assets. Photo: HSBC
HSBC Gold Token is the first such retail product to be issued by a bank in Hong Kong, according to HSBC, as the government pushes for the issuance of more tokenised assets. Photo: HSBC
Digital currencies

Consensus building: crypto conference arrives in Hong Kong amid Web3 changes

Hong Kong is leaning into its role in traditional finance as it courts Web3 enthusiasts to the city for CoinDesk’s Consensus Hong Kong.

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Smartphones

Apple partners with Alibaba in AI as Chinese rivals embrace DeepSeek

DeepSeek has become the top AI choice for Chinese Android smartphone makers from Huawei to Vivo, as Alibaba scores Apple as local partner.

Art

Obituary | Friends and family mourn American-Chinese artist Rutherford Chang

The artist, a scion of Taiwan’s Advanced Semiconductor Engineering family who died aged 45, remembered as ‘warm’ and ‘endlessly curious’.

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Rutherford Chang stands at an exhibition of his “We Buy White Albums” project - which saw him turn his many copies of The Beatles’ White Album into a piece of conceptual art - in Germany. The American-Chinese artist died on January 24 aged 45. Photo: Instagram/lawrenceartscentergallery
China Future Tech
HIGHLIGHTS FROM
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Tech Trends

Alibaba founder Jack Ma calls for responsible AI in remarks to cloud unit

The Alibaba logo is seen at the World Artificial Intelligence Conference in Shanghai, July 6, 2023. Photo: AFP

Big Tech

Alibaba’s Quark surpasses ByteDance’s Doubao as China’s top AI app

A Quark advertisement at the airport in Nanning, China. Photo: Simon Song

China Business

Trump’s tariffs: will Chinese pharmaceutical industry feel the pain?

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Employees of Jiangxi Banbiantian Pharmaceutical pack medicines at the company’s plant in Jiangxi province. Photo: VCG via Getty Images

Tech War

China amends ‘place of origin’ in boost to local semiconductor manufacturers

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Chips have become a focal point of the US-China tech war. Photo: Reuters

Big Tech

China’s SenseTime bets on new AI training method to stand out

SenseTime CEO Xu Li speaks at the launch event of the SenseNova V6 models in Shanghai on Thursday. Photo: Handout
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