A former senior manager at a major Chinese cryptocurrency exchange has been acquitted by a Hong Kong court of secretly moving five million Tether, with a market value of about HK$39 million (US$5 million), to his own accounts six years ago. A seven-member High Court jury reached the verdict on Friday to find Chen Boliang,…
The White House said China had targeted US artificial intelligence (AI) technology for theft. It said advanced US AI systems faced the risk of proprietary information being extracted through proxy accounts and jailbreaking techniques. The US administration said it was reviewing information-sharing with US AI companies and accountability measures to respond to industrial-scale technology theft…
The US raised allegations of technology theft, taking issue with China’s attempt to improperly secure core AI-related technologies. The allegations came as US-China competition over advanced semiconductors and AI intensifies. Market participants are watching the impact of the US-China technology rivalry on the broader semiconductor and AI industries and the possibility of additional sanctions. Forecast…
Prediction market platforms offering diverse gambling options and attractive odds are surging in popularity, observers have said, warning about payout risks amid Hong Kong authorities halting plans to legalise basketball betting. They also said on Tuesday that Hong Kong residents who took part in these platforms, which use cryptocurrency for transactions, could be breaking gambling…
The Hong Kong Monetary Authority (HKMA) is being urged to go further in loosening restrictions on stablecoins, after granting the city’s first two licences to banks to issue the digital currency. “It came as a surprise that only two licences were issued, and both to traditional banks,” said Kenny Ng Lai-yin, a strategist at Everbright…
Hong Kong’s finance chief has promoted the city’s regulatory regime for digital assets as “responsible and sustainable” at the annual World Economic Forum in Davos. Delivering opening remarks at a closed-door workshop on Tuesday, Financial Secretary Paul Chan Mo-po said finance and technology were “mutually reinforcing”, but a balanced approach was needed to support their…
Good morning. There’s been a recurring theme to some of the AI conversations I’ve had this week: using the technology to find things in sprawling corporations. For all that agentic AI promises for the future, several executives told me that the real value right now is in locating assets—documents, devices, intellectual property, et cetera—within companies. …
Hong Kong police have arrested 15 suspects in connection with a robbery outside a currency exchange, during which four suitcases containing 1 billion yen (US$6.4 million) were snatched within 30 seconds as part of a “meticulously planned” plot. The force on Monday said it was still trying to recover the cash, adding that the robbery…
Hong Kong police have arrested 15 suspects in connection with a robbery outside a currency exchange, during which four suitcases containing 1 billion yen (US$6.4 million) were snatched within 30 seconds as part of a “meticulously planned” plot. The force on Monday said it was still trying to recover the cash, adding that the robbery…
Shares of HashKey Holdings, operator of Hong Kong’s largest licensed cryptocurrency exchange, fluctuated on their trading debut, as investors shunned risk amid a downturn in both equity and digital asset markets. Trading under the stock code 3887, HashKey shares first changed hands on Wednesday at HK$6.70, or 0.3 per cent above the offer price of…