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Cryptocurrency

Cryptocurrency
News and analysis about non-fiat, decentralised assets used as digital currencies, including bitcoin, ether, altcoins and stablecoins.
last updated:
9 September, 2024
The US Federal Reserve’s third straight interest-rate cut dampened the speculative spirits unleashed in the cryptocurrency market by Donald Trump’s pledge of friendly regulations. Photo: EPA-EFE
Bitcoin

Bitcoin records first weekly decline since Donald Trump’s US election victory

The original cryptocurrency was down more than 7 per cent for the seven-day period through 9:27am on Monday in Singapore.

Banking & finance

Macroscope | Cryptocurrency craze no match for gold’s enduring allure

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Digital currencies

Hong Kong licenses 4 more crypto exchanges amid bitcoin price surge

United States

Opinion | Why a Trump economic boom is much less likely this time around

Trump is once again inheriting a strong US economy but the world is more volatile, and US debt and interest rates are much higher.

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Illustration: Craig Stephens
Professional Education

Want to be a fintech whizz? Hong Kong universities offer cutting-edge programmes

The courses provide professionals and emerging students with a comprehensive understanding of new technologies and their impact on traditional finance models.

Bitcoin

Bitcoin surges above US$106,000 on strategic reserve hopes

Bitcoin has surged more than 50 per cent since the November 5 election that saw Trump elected along with many other pro-crypto candidates.

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Ant Group

Chinese fund touts offshore crypto exposure amid bitcoin boom

The fund boasted in the ad that it is heavily invested in Coinbase, a US cryptocurrency exchange listed in New York.

Bitcoin tokens and a price chart are seen in this illustration picture taken November 21, 2024. Photo: Reuters
Digital currencies

US bankers cautious about crypto amid expectations of regulatory easing

Goldman Sachs CEO David Solomon said the Wall Street giant would ‘evaluate’ dealing in top cryptocurrencies like bitcoin and ether if rules change.

Profile

Profile | Meet the man who brought poker out of Hong Kong’s shadows

Stephen Lai caught the gambling bug at university in England – on his return to Hong Kong, he played his cards right and formed the Hong Kong Poker Players’ Association.

Digital currencies

Hong Kong’s crypto faithful favour local regulations, fear ‘unpredictable’ Trump

The chair of the Silk Road Economic Development Research Centre said the city still has a chance to lead in Web3 in the next decade.

Some still see room for Hong Kong to be a global leader in cryptocurrency, even as momentum shifts to the US in anticipation of Donald Trump’s return to the presidency. Photo: Shutterstock
Artificial intelligence

Trump names David Sacks as White House AI and cryptocurrency tsar

Trump said that Sacks would also lead the Presidential Council of Advisors for Science and Technology.

David Sacks speaks during the first day of the 2024 Republican National Convention in Milwaukee, Wisconsin, July 15, 2024. Photo: AFP
Digital currencies

China’s selfie app Meitu sells all crypto before bitcoin hit US$100,000

Meitu netted US$80 million on bitcoin and ether holdings, exiting the crypto market amid a historic rally after the US re-elected Donald Trump.

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Bitcoin

Bitcoin tops US$100,000 for the first time on Trump crypto bump

Bitcoin has more than doubled in value this year and is up more than 45% in the four weeks since Trump’s election win.

US-China relations

Trump picks Peter Navarro, US-China trade war architect, for senior role

Beijing-sanctioned economist who spent time in federal prison tasked with advancing White House agendas on ‘manufacturing, tariff and trade’.

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Peter Navarro speaks before Donald Trump takes the stage at a campaign event in Concord, New Hampshire, on October 21, 2024. Photo: AP
Digital currencies

Bybit CEO says Chinese can trade crypto though VPN, but not with yuan

Bybit CEO Ben Zhou says the company plans to reapply for a Hong Kong licence next year even though regulators bar selling crypto to mainlanders.

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Bybit co-founder and CEO Ben Zhou said the cryptocurrency exchange would not cross China’s “red line” of allowing trading in yuan. Photo: Shutterstock
Digital currencies

Decentralised kingdom: bitcoin’s Trump bump and how China lost its crypto crown

As the world’s factory, China cornered the market on bitcoin mining, leading to a flurry of crypto business activity before a harsh crackdown in 2021.

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Art

Chinese-born buyer of US$6.2 million banana art eats it in Hong Kong

Cryptocurrency entrepreneur Justin Sun praises artist for creating Comedian artwork, before downing it on live stream at The Peninsula hotel.

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Bitcoin

Justin Sun invests US$30 million in Trump crypto tokens after banana artwork deal

Sun’s moves come amid booming cryptocurrency prices fuelled by excitement around the re-election of former US president Donald Trump.

Donald Trump gestures at the Bitcoin 2024 event in Nashville, Tennessee, US, July 27, 2024. Photo: Reuters
Hong Kong stock market

Chinese game developer Boyaa rides bitcoin boom; Hong Kong shares rise ninefold

The company, which develops online card and board games, started investing in digital currencies in 2023.

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Blockchain

Bitcoin’s march towards historic US$100,000 level stalls

‘Bitcoin was extremely overbought since the election,’ one analyst says.

China’s Communist Party

First cryptocurrency corruption case in China is former central bank official

Yao Qian is accused of abusing his position at the China Securities Regulatory Commission in a ‘severe breach of duty’.

A former securities official who previously served as the People’s Bank of China’s first director of digital currency research has been accused of cryptocurrency-based corruption. Photo: Shutterstock
Blockchain

Bitcoin hits US$97,000 as crypto sector seeks White House post

The world’s largest digital asset reaches an all-time high in Asia on Thursday.

US President-elect Donald Trump at the Bitcoin 2024 event in Nashville, Tennessee, in July. Photo: Reuters
United States

Sam Bankman-Fried’s ex-deputy Gary Wang spared prison time over FTX fraud

Wang cooperated with the prosecution and testified in the trial that led to Bankman-Fried’s conviction on fraud and other charges.

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Digital currencies

Shanghai court says crypto ownership legal in China amid bitcoin price surge

In an opinion on a recent lawsuit, a Shanghai judge wrote that cryptocurrencies have the attributes of property and thus holding it is legal.

Banking & finance

‘Money in motion’ as top financiers discuss diversification at Hong Kong summit

The Global Financial Leaders’ Investment Summit will be back for a fourth year next November, HKMA CEO Eddie Yue says.

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Financial Secretary Paul Chan delivers his keynote speech at the Global Financial Leaders’ Investment Summit on Wednesday. Photo: Handout from ISD
Digital currencies

Hong Kong bitcoin ETFs finally see trading surge after Trump bump in the US

The city’s three spot bitcoin ETFs became active trading targets this week, with US$17 million trading hands on Tuesday.

People stand next to bitcoin ATMs outside a cryptocurrency exchange in Hong Kong on November 14. Photo: AFP
Bitcoin

Trump’s crypto pledge may see China restore digital-asset market: HashKey head

HashKey chairman and CEO Xiao Feng said a number of factors may compel mainland China to open its digital-asset market in about two years.

Bitcoin

Trump election victory cheers up China’s cryptocurrency proponents

These crypto proponents expect a bright future for digital assets and related policies on the mainland and Hong Kong.

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