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Cryptocurrency

Cryptocurrency
News and analysis about non-fiat, decentralised assets used as digital currencies, including bitcoin, ether, altcoins and stablecoins.
US President Donald Trump gestures as he boards Air Force One on Thursday. Photo: AP
Donald Trump

Trump’s memecoin dinner made him millions. Critics call it cash for access

The US president and his allies pocketed US$320 million in trading fees, as the cryptocurrency $TRUMP surged in value ahead of the dinner.

Crime in Hong Kong

Hong Kong police smash cross-border syndicate that laundered HK$118 million

Blockchain

Crypto exchange Coinbase warns of US$400 million hit from cyberattack

Hong Kong property

Meitu founder’s wife buys Hong Kong luxury home for US$60 million

Wang Baoshan paid 22 per cent less than the asking price for the 5,466 sq ft detached house at 8 Perkins Road.

A view of Hong Kong from Jardine’s Lookout. Mainland buyers have been underpinning demand for luxury property in the city. Photo: Shutterstock
Digital currencies

Trump’s crypto ‘reset’ cheered by industry calling for more regulatory clarity

US crypto investors contributed millions of dollars to Trump’s election victory and did not conceal lingering contempt for Biden at Consensus.

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Digital currencies

Bitcoin gains as crypto investors bet on positive US-China trade talks

The rally followed news that the US treasury secretary and trade representative will meet with the Chinese government in Switzerland this week.

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France

Kidnapped father of crypto-millionaire freed in French police raid, 7 arrested

Suspects had chopped off one of the victim’s fingers and demanded between US$5.7 million and US$7.9 million from his son, authorities said.

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Physical representations of digital cryptocurrencies, displayed in February 2018 in Paris, France. Photo: Getty Image
Hong Kong property

Meitu founder buys Hong Kong’s Ginza-style building for US$84 million

Meitu founder invests US$84 million in Hong Kong property to create a crypto/AI start-up hub.

Digital currencies

Hong Kong ranks as second-most crypto-friendly city in the world in new index

The city is just behind Ljubljana, capital of Slovenia, in an evaluation based on factors such as regulation, taxes and wealth.

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Bitcoin

Bitcoin, ether rout extends as tariff war pain batters cryptocurrency assets

Cryptocurrency investors appear to be in full ‘sell mode’, according BTC Markets analyst Charlie Sherry.

About US$758 million worth of cryptocurrency wagers were liquidated in the past 24 hours, the most in nearly six weeks, according to Coinglass data. Photo: Shutterstock
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.

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
Artificial intelligence

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

HashKey’s first AI product is designed for content moderation, but it envisions a future of AI agents trading on blockchain on behalf of users.

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Bitcoin

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

For bitcoin, which fell as much as 4 per cent to about US$82,000 on Thursday, US$80,000 is a ‘must-hold’ level, cryptocurrency analysts say.

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.

Released in December 2013, the Dogecoin is considered the world’s first memecoin. Photo: Shutterstock
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.

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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
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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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.

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.

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.

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.

Bitcoin has retreated from a peak following the election of Donald Trump as US president. Photo: dpa
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.

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.

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