HSBC, the largest lender in Europe and Hong Kong by assets, has signalled for the first time its intent to engage with the city’s forthcoming stablecoin regime, citing Hong Kong’s sound regulatory environment and its potential to drive innovation in the digital asset space. “We are interested in every part of Hong Kong’s innovation landscape,…
Bitcoin is crashing into dangerous territory — and options-fueled selling is adding to the volatility. The largest cryptocurrency dropped as much as 7.6% on Friday to $80,553, deepening a selloff that’s erased nearly 25% of its value this month. November is now shaping up to be Bitcoin’s worst month since the 2022 collapse of Terra…
Published: Nov. 17, 2025 at 2:10 p.m. ET Cryptocurrency stockpiler Strategy might have an obstacle in its path to S&P 500 inclusion — in the form of an “elephant” currently residing in the S&P Small-Cap 600 index. That’s Stephens analyst Melissa Roberts’s term for Sandisk SNDK, the maker of storage devices whose red-hot stock in recent…
A Chinese woman described as a “super villain” who orchestrated a multibillion dollar investment fraud to buy Bitcoin was sentenced to 11 years and 8 months in jail by a London judge. Zhimin Qian, who evaded arrest in China after fleeing on a moped to the Myanmar border, traveled through southeast Asia and Europe using…
China’s cybersecurity agency accused the American government of orchestrating the theft about $13 billion worth of Bitcoin, representing China’s most recent attempt to attribute major cyberattacks to the US. The theft of the 127,272 Bitcoin tokens from the LuBian Bitcoin mining pool that took place in December 2020 marks as one of the largest crypto…
President Donald Trump says he has no idea who the money-laundering crypto billionaire he pardoned actually is. Trump last month pardoned Binance founder Changpeng “CZ” Zhao, who pled guilty to money-laundering violations that allowed criminal groups to move money connected to drug trafficking and child abuse. The pardon came just months after Binance, a crypto…
Common sense tells us there are two things in our economy that are going to blow up in our faces sooner or later: artificial intelligence (AI) and cryptocurrency. AI is dangerous because of wild expectations about the role of AI in our future and trillions of dollars of unrestrained spending on it, particularly for data…
Share prices of listed companies in related businesses have appreciated very significantly in both the US and Hong Kong. The trend appears unstoppable. US Treasury Secretary Scott Bessent expects the stablecoin market alone to grow tenfold over the next few years from US$200 billion to US$2 trillion. While cryptocurrencies present new opportunities for investors, it…
The Hong Kong Monetary Authority (HKMA) is likely to issue the first batch of stablecoin licences early next year, as the city’s de-facto central bank urged potential issuers to submit their applications by the end of September. Ahead of the stablecoin ordinance taking effect on August 1, the HKMA unveiled on Tuesday licensing procedures and…
JD.com and Ant Group are urging China’s central bank to approve a yuan-pegged stablecoin in Hong Kong to counter USDT’s dominance in global trade. JD.com and Ant Group are lobbying the People’s Bank of China to authorize a yuan-based stablecoin in Hong Kong, aiming to reduce reliance on US dollar-backed digital currencies. Both companies plan…