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Blockchain

Justin Sun, founder of the Tron blockchain, speaks at a press conference on Thursday in Tsim Sha Tsui, where he accused First Digital Trust of misappropriating funds of a stablecoin operator he has links to. Photo: Edmond So
Blockchain

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

The call comes after cryptocurrency mogul Justin Sun denounced alleged ‘loopholes’ in Hong Kong’s trust regulations.

Artificial intelligence

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

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Cryptocurrency

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

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.

Shares of US cryptocurrency exchange Coinbase fell 31 per cent in its worst quarterly performance since FTX collapsed near the end of 2022. Photo: Shutterstock
Shares of US cryptocurrency exchange Coinbase fell 31 per cent in its worst quarterly performance since FTX collapsed near the end of 2022. Photo: Shutterstock
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.

Cybersecurity

Baidu doxxing: firm stresses user privacy after executive’s kid leaks data

The cloud storage provider has sought to restore public trust after a public outcry from a doxxing incident involving the child of a vice-president.

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Semiconductors

Huawei-related chip equipment maker to debut products at Shanghai trade show

SiCarrier, a chip tool maker backed by the Shenzhen government, will launch new products at the three-day Semicon China exhibition.

This photo taken on March 22, 2024 shows products from Maxone displayed at Semicon China in Shanghai. Photo: AFP
This photo taken on March 22, 2024 shows products from Maxone displayed at Semicon China in Shanghai. Photo: AFP
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.

US-China relations

‘A geopolitical move’: Trump’s big bet on crypto raises questions for China

China has kept unregulated digital currencies at arm’s length, but the US is going all-in on crypto. Will this big bet give the US dollar new life?

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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.

Bitcoin fell more than 3 per cent on Tuesday morning in Asia, while ether dropped as much as 6 per cent. Photo: Shutterstock
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
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.

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.

After jumping on US President Donald Trump’s talk of creating a national cryptocurrency reserve, bitcoin and similar digital assets dove in the face of concerns it might not actually happen. Photo: Shutterstock
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
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.

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.

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DeepSeek

Research over riches: DeepSeek stays focused on AGI breakthroughs

DeepSeek is in no rush to conduct further fundraising or engage in new commercial activities, according to a source, instead focusing on achieving AGI.

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One month after its models rocked Wall Street, DeepSeek is staying dedicated to achieving artificial general intelligence. Photo: Reuters
One month after its models rocked Wall Street, DeepSeek is staying dedicated to achieving artificial general intelligence. Photo: Reuters
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.

Artificial intelligence

AI’s new frontier: PolyU scientist sees domain-specific models as the future

Former Alibaba scientist Yang Hongxia is at the forefront of an effort to evolve AI beyond DeepSeek’s breakthroughs.

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
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.

The booth for OKX seen at Hong Kong FinTech Week on November 3, 2023. Photo: NurPhoto via Getty Images
The booth for OKX seen at Hong Kong FinTech Week on November 3, 2023. Photo: NurPhoto via Getty Images
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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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.

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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An illustration featuring US President Donald Trump holding bitcoin outside a cryptocurrency exchange in Hong Kong on December 5. Photo: Reuters
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