The Hong Kong-based start-up accelerator will support 1,000 Web3 start-ups to bring business to the region. Hong Kong is attempting to reclaim its crypto hub status by achieving the goal over the next three years.
south china morning post Reported That G-Rocket is trying to involve companies in this area to bring more business in this area.
What’s more complicated is the startup’s executive body. While co-founder Johnny Ng Kitt is a Hong Kong lawmaker, several other executives are Chinese investors stationed in Singapore and Dubai – two rival crypto hubs.
Unable to stop FTX infection Web3 businesses
Justin Sun, Founder tronrecently claimed in a interview China actively monitors Hong Kong’s legislative actions on cryptocurrencies. He said he is particularly “bullish” because Hong Kong serves as China’s “experiment base”.
Notably, the report comes after the FTX transition even as the Web3 market declined. Hong Kong-Registered Cryptocurrency Trading Company Auros then revealed that it is entering into provisional liquidation due to financial issues. The Atomic Asset Exchange (AAX) based in Hong Kong was also forced to halt Evacuation as a result of the explosion. The crisis also prompted strong regulatory action around the world. securities and futures The Hong Kong Commission (SFC) wasted no time in warn users About the dangers of staking platforms and exchanges.
Despite many warnings in the Web 3 space, Hong Kong launched Two crypto-based exchange-traded funds (ETFs) for the first time.
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