Yunfeng Financial invests US$44 million in ether amid Hong Kong’s virtual asset push

Yunfeng Financial invests US$44 million in ether amid Hong Kong’s virtual asset push

Yunfeng Financial Group, backed by Alibaba Group Holding founder Jack Ma, said it was investing in the cryptocurrency ether as part of its reserve assets, as the company expands into Web3 amid Hong Kong’s digital asset initiative. To date, Hong Kong-listed Yunfeng has invested US$44 million to acquire 10,000 ether for its “strategic reserve”, according…

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Exclusive | Binance founder CZ: Hong Kong can rival US as crypto hub, but its future hinges on speed

Exclusive | Binance founder CZ: Hong Kong can rival US as crypto hub, but its future hinges on speed

Hong Kong has the conditions to become a major hub for virtual assets, rivalling markets like the US and the United Arab Emirates (UAE), but the city’s regulators must act swiftly to realise its potential, according to Zhao Changpeng, founder and largest shareholder of cryptocurrency exchange Binance. In an exclusive interview with the South China…

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