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Cryptocurrency

Cryptocurrency
News and analysis about non-fiat, decentralised assets used as digital currencies, including bitcoin, ether, altcoins and stablecoins.
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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Bitcoin

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

Bitcoin

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
Fintech

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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Bitcoin

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.

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.

Donald Trump

Trump’s ‘cyber summit’ gives digital currency new prominence and large US role

Ahead of White House session, US president signs order establishing ‘Strategic Bitcoin Reserve and United States Digital Asset Stockpile’.

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US President Donald Trump is hosting a “crypto summit” at the White House on Friday. Image: Reuters
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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US President Donald Trump has announced the creation of a strategic cryptocurrency reserve, fuelling speculation over what effect the move will have on global markets. Photo: Antony Dickson
Bitcoin

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.

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.

The logo for Coinbase Global, the biggest US cryptocurrency exchange, displayed on the Nasdaq MarketSite jumbotron in Times Square in New York on April 14, 2021. Photo: Reuters
North Korea

FBI blames North Korea for US$1.5 billion ByBit crypto hack

According to the company, a hacker gained control of an ether wallet and transferred the holdings to an unidentified address.

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The FBI said the stolen assets will be further laundered and eventually converted to fiat currency. Photo: Shutterstock
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.

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.

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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.

A shop advertises cryptocurrency education in Tsim Sha Tsui on July 7, 2023. Photo: Xiaomei Chen
Icons and Influencers

Who is Bo Hines, the ex-college footballer Trump chose as crypto adviser?

Hines played football at North Carolina State and Yale, but always wanted to be a politician – he has few cryptocurrency credentials, yet has been chosen to advise on the digital landscape.

Banking & finance

Standard Chartered, Animoca, HKT to pursue Hong Kong dollar-backed stablecoin

Stablecoins are digital assets that maintain a fixed value relative to a government-issued fiat currency or other reference rate.

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
Diplomacy

Macroscope | Trump’s ‘big stick diplomacy’ won’t go far in today’s world system

Conflicting monetary goals and budget constraints will undermine the administration’s ability to exert influence from a position of strength.

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American and South Korean soldiers salute during a change of command and change of responsibility ceremony at a US military base, in Seoul, South Korea, in 2017. Photo: AP
Banking & finance

Opinion | Will Trump’s AI and energy goals burst the US credit bubble?

US policies regarding fossil fuels and technology are reshaping monetary norms as the country seeks to benchmark itself against China.

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Editorial | Tokenised legal notice in Hong Kong shows value of courts keeping up with tech

Injunction using blockchain was served on unknown holders of two cryptocurrency wallets, barring them from disposing of assets obtained through a scam.

DeepSeek

DeepSeek warns of impostor accounts as AI app’s popularity soars

The Chinese AI start-up has urged the public to be vigilant of accounts posing as its founder or selling cryptocurrencies in its name.

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DeepSeek is warning the public against fake social media accounts posing as related to the Chinese AI start-up. Photo: Reuters
Bitcoin

Bitcoin slides below US$100,000 as Trump’s tariffs rattle markets

US president imposed 25 per cent tariffs on Mexican and most Canadian imports, and 10 per cent on goods from China, starting on Tuesday.

Bitcoin was down 4 per cent early on Monday morning in Asia, touching a three-week low around US$96,606. Photo: Dado Ruvic / Illustration / File Photo
Digital currencies

Tencent-backed WeBank eyes Web3 expansion in Hong Kong

WeBank chief information officer Henry Ma said the virtual bank will be “deeply involved” in developing Hong Kong’s Web3 infrastructure.

Bitcoin

Trump’s crypto executive order could thwart Hong Kong’s virtual-asset-hub dream

The city is now moving to ‘adjust’ a proposal for regulating over-the-counter virtual-asset trading after receiving market feedback.

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