Hong Kong’s largest cryptocurrency exchange, HashKey, has achieved a landmark status by becoming the first publicly traded digital asset company in Asia to list via an initial public offering (IPO) on the Stock Exchange of Hong Kong (HKEX). The $206 million offering, which was oversubscribed, culminated in a volatile first trading day for HashKey Holdings, opening at HK$6.70 ($0.86) per share. This event signals a pivotal moment of convergence between the cryptocurrency sector and traditional, regulated financial markets in the region.
about HashKey Debuts on HKEX After $206M Oversubscribed IPOHashkey
0 in Finance and 0 in Crypto last weekFed Rate Cut Boosts Crypto: Bitcoin Holds $90K, ZEC Surges 18%
The U.S. Federal Reserve’s third consecutive interest rate cut in 2025 sent ripples through financial markets, with cryptocurrencies experiencing heightened volatility. Bitcoin demonstrated resilience by stabilizing above the $90,000 threshold after significant swings, while Zcash (ZEC) stole the spotlight with an explosive 18% weekly rally. This movement unfolded against a backdrop of major industry developments, from landmark legal rulings to significant platform integrations, painting a complex picture for the digital asset sector.
about Fed Rate Cut Boosts Crypto: Bitcoin Holds $90K, ZEC Surges 18%HashKey Nears IPO as HKEX Publishes Post-Hearing Pack
HashKey Holdings, the parent company of one of Hong Kong’s largest licensed cryptocurrency exchanges, has taken a definitive step toward a landmark initial public offering. The Hong Kong Stock Exchange’s publication of a 633-page post-hearing information pack signals formal clearance from its listing committee, positioning HashKey for a high-profile debut that underscores Hong Kong’s ambition to become a regulated global hub for digital assets.
about HashKey Nears IPO as HKEX Publishes Post-Hearing PackCrypto Giants Pledge HK$57M for Hong Kong Fire Relief
Leading cryptocurrency companies including Binance and HashKey have committed HK$57 million ($7.3 million) in emergency aid following Hong Kong’s deadliest residential fire in over a decade. The coordinated response from multiple crypto giants aims to support rescue operations and assist affected families in the Tai Po district, marking another significant humanitarian effort from the crypto sector during global emergencies.
about Crypto Giants Pledge HK$57M for Hong Kong Fire ReliefMissing Data Clouds Fed Policy, Bitcoin Slides Amid Uncertainty
Financial markets are navigating unprecedented uncertainty as October’s critical inflation and employment data remain unreleased due to the government shutdown. Bitcoin extended its weekly decline while traders scaled back expectations for Federal Reserve rate cuts, creating a volatile environment for policy-sensitive assets.
about Missing Data Clouds Fed Policy, Bitcoin Slides Amid UncertaintyHuobi Founder Raises $1B for Ethereum Investment Trust
In a landmark move for cryptocurrency institutional investment, Huobi founder Li Lin has secured approximately $1 billion to launch a dedicated Ethereum investment trust, marking one of the largest dedicated crypto investment vehicles to date. The initiative brings together China’s most prominent crypto investors and venture capital firms, with the trust expected to be formally announced within the coming weeks through a Nasdaq-listed shell company structure.
about Huobi Founder Raises $1B for Ethereum Investment TrustHashKey Files for $500M Hong Kong Crypto Exchange IPO
HashKey Group, operator of Hong Kong’s leading licensed cryptocurrency exchange, has reportedly filed for an initial public offering in the city that could raise up to $500 million. This landmark move represents a significant milestone for regulated crypto exchanges in Asia and signals growing institutional acceptance of digital asset platforms within traditional capital markets.
about HashKey Files for $500M Hong Kong Crypto Exchange IPOHashKey Launches $500M Digital Asset Treasury Fund
HashKey Group has introduced a $500 million perpetual investment fund specifically designed for institutional investors seeking exposure to digital asset treasuries. Unlike passive ETFs, this actively managed fund will invest in projects and companies implementing DAT strategies, with initial focus on Bitcoin and Ether performance. The launch comes just days after Nasdaq announced enhanced scrutiny requirements for listed companies’ crypto holdings, which HashKey characterizes as a ‘survival of the fittest’ moment for the industry. The fund structure allows for regular subscriptions and redemptions, functioning similarly to an open-ended crypto hedge fund while targeting institutional participants exclusively.
about HashKey Launches $500M Digital Asset Treasury FundHashKey Launches $500M Crypto-TradFi Bridge Fund
HashKey Group’s new DAT (Digital Asset Token) fund represents a significant institutional bridge between traditional finance and cryptocurrency markets. With a target raise exceeding $500 million initially, the perpetual fund structure allows continuous capital flow into Bitcoin and Ethereum projects while providing regular liquidity options. The fund aims to create a ‘flywheel effect’ through investment, application development, value capture, and liquidity exits. However, industry experts caution about potential conflicts of interest in vertically integrated models, citing risks similar to those seen in FTX’s collapse. Hong Kong’s regulatory environment gives HashKey an advantage over US markets, according to Hex Trust’s Charmaine Tam, who notes the city’s clearer rules versus America’s ‘reactive enforcement approach.’ The fund sits between ETFs and listed treasuries, offering operational alpha through staking and governance but requiring robust controls to manage manager risk.
about HashKey Launches $500M Crypto-TradFi Bridge FundTradeOS Joins Cointelegraph Accelerator to Revolutionize E-Commerce
TradeOS, developed by Bounty Bay Labs and supported by Animoca Brands, TON Ventures, and HashKey, has become the latest participant in the Cointelegraph Accelerator. The platform is designed as a decentralized, low-fee alternative to traditional e-commerce, using stablecoins and blockchain for settlements. Its proof-of-delivery system, powered by zk-TLS and TEE, ensures payouts are released only upon verifiable real-world outcomes, eliminating the need for tokenized data or monopoly APIs. The Cointelegraph Accelerator will help TradeOS scale by providing media exposure, strategic advice, and access to a Web3-native audience. This partnership highlights the growing intersection of blockchain and global commerce.
about TradeOS Joins Cointelegraph Accelerator to Revolutionize E-CommerceMemeCore (M) Surges 1,100%: What’s Driving the Rally?
MemeCore (M), a meme coin launched on July 3, has surged an astonishing 1,110% in a week, reaching a price of $0.68 and entering the top 100 cryptocurrencies by market cap. The rally was driven by listings on major exchanges such as Binance Alpha, Kraken, and Bitget, alongside partnerships like market maker Klein Labs. MemeCore distinguishes itself as a ‘Layer 1 blockchain for Meme 2.0,’ featuring a Proof of Meme (PoM) consensus mechanism designed to reward community engagement. While the project promises longevity and creativity for meme coins, traders should remain cautious due to the asset’s inherent volatility and speculative nature.
about MemeCore (M) Surges 1,100%: What's Driving the Rally?China Sells $2B in Seized Bitcoin from PlusToken Scam
Chinese authorities have liquidated $2 billion worth of Bitcoin confiscated from the PlusToken scam, leaving uncertainty over the handling of seized crypto assets. The PlusToken scheme, which defrauded over 2 million investors, also involved other cryptocurrencies like Ethereum, XRP, and Dogecoin. With China’s sale, the US now leads in government-held Bitcoin reserves (207,189 BTC), followed by the UK (61,000 BTC). Legal experts, including Professor Yang Dong, are advocating for a structured legal framework to manage seized digital assets. Meanwhile, local Chinese governments have partnered with private firms to offload crypto holdings, despite the central bank’s opposition to decentralized currencies. Bitcoin’s price dipped slightly but remains strong, with an 8.23% weekly gain.
about China Sells $2B in Seized Bitcoin from PlusToken Scam