Minar @Minarul_Minar@axpress.io

Citing a 2022 study by the Boston Consulting Group, the company said that less than 1% of individual wealth is invested in crypto assets, while about 25% of individual wealth is already invested in equity. This suggests there may be substantial room for growth for crypto exposure

The company has also enhanced its OTC service by boosting its liquidity coverage and range of tokens in the spot market to further increase its offering for professional investors

We are excited to upgrade our OTC trading business and launch HashKey Wealth, introducing as well as bridging professional investors, family offices, and institutions to the emerging world of virtual assets,” said Deng Chao, Head of HashKey Singapore and CEO of HashKey Capital

Last year, HashKey announced that it had been granted a “Type 9 asset management license” by Hong Kong’s Securities and Futures Commission, allowing it to manage portfolios that only contain virtual assets and likely paved the way for its latest offering.

And earlier this year, the company closed a $500 million investment round for a fund that will invest in infrastructure, toolings, and applications that will help push the mass adoption of blockchain and crypto technologies.

HashKey Group is an end-to-end digital asset financial services group in Asia.

The company provides a range of services across the entire digital asset landscape, ranging from trading, custody, venture investment, and technologies to Web3 infrastructure.

Hong Kong Moves Toward Becoming a Haven for Crypto Firms
Hong Kong has been moving forward with plans to position itself as a global crypto hub and attract more digital asset companies.

Crypto Exchange Bittrex Pulls the Plug on US Operations Amid Challenging Regulatory Environment – Here's the Latest

Cryptocurrency exchange Bittrex is shutting down US operations, citing increasing regulatory pressure and a lack of clear regulatory requirements.

In a Friday blog post, Bittrex co-founder Richie Lai said the exchange will halt operations in the US by late April. He added that US users won't be able to trade on the platform starting April 14.

It’s just not economically viable for us to continue to operate in the current U.S. regulatory and economic environment,” Lai said in the statement

Regulatory requirements are often unclear and enforced without appropriate discussion or input, resulting in an uneven competitive landscape. Operating in the U.S. is no longer feasible.

Lai ensured users that all funds are safe and immediately available to be withdrawn

Founded in 2014 by three Amazon alumni, Bittrex is a US-based crypto exchange that specializes in paired cryptocurrency trades. The exchange supports over 250 cryptocurrencies.

The move to wind down operations in the US comes as Bittrex was fined $53 million by the Treasury’s Office of Foreign Assets Control and Financial Crime Enforcement Network last year for failing to prevent customers in Iran, Cuba, and other sanctioned nations from using its platform

The exchange has also been subject to regulatory scrutiny in New York, where regulators ordered the platform to cease operations in the state, citing concerns over its ability to detect money laundering and comply with sanctions.

Bittrex had about $17 million in trading volume over the last 24 hours, according to data from CoinGecko. That compares with Coinbase's volume at $1.4 billion and Binance's at $10 billion.

US Crypto Crackdown Intensifies
US regulators have ramped up their scrutiny of crypto companies as of late following the catastrophic collapse of FTX and other high-profile digital asset firms.

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