Fun

News Feed - 2023-11-14 08:11:00

Helen Partz12 hours agoOwner of Hong Kong crypto exchange OSL secures $90M investmentBC Technology Group, the operator of Hong Kong’s publicly listed crypto exchange OSL, has raised $90 million in subscriptions for new shares from BGX.2336 Total views15 Total sharesListen to article 0:00NewsJoin us on social networksBC Technology Group, the operator of Hong Kong’s publicly listed cryptocurrency exchange OSL, has announced a significant investment from industry firm BGX.


BC Technology entered into a partnership with BGX, which agreed to subscribe for shares in BC Technology for an investment of about 710 million Hong Kong dollars ($90.1 million), the firms said in a joint announcement on Nov. 14.


This strategic investment will involve the subscription of new shares under a specific mandate, subject to approval by shareholders, the announcement notes.


According to the firms, the investment marks a testament to OSL’s commitment to setting new standards in digital asset security, compliance and technological innovation. As previously reported by Cointelegraph, OSL was one of the first crypto exchanges to acquire a Hong Kong crypto license in 2023.


Related:BitgetX drops plans to seek crypto license in Hong Kong


The BGX partnership news comes the day after BC Technology halted trading OSL shares on the Stock Exchange of Hong Kong. According to industry sources, an unconfirmed report implied that OSL was acquired by or received investment from Bitget, an exchange that officially announced its departure from the Hong Kong market on Nov. 13.


OSL operator BC Technology has reportedly considered selling the OSL exchange for $1 billion Hong Kong dollars, or $128 million.


In the joint announcement, BGX described itself as a "crypto group that aims to offer an innovative platform that allows institutional and retail investors to seek investment opportunities in crypto." It appears to be unclear when the firm was founded. One of the first recorded snapshots by Wayback Machine, from March 2021, describes BGX as a "global digital currency exchange invested by SoftBank Investment."Wayback Machine snapshot of BGX website from June 2021. Source: Wayback Machine


OSL declined to provide further information about the strategic investment. BGX didn"t immediately respond to Cointelegraph"s request to comment.


Additional reporting by Zhiyuan Sun.


Magazine:Bitmain’s revenge, Hong Kong’s crypto rollercoaster: Asia Express# Bitcoin# Cryptocurrencies# Hong Kong# Business# Funding# Cryptocurrency ExchangeAdd reactionAdd reactionRead more3 theses that will drive Ethereum and Bitcoin in the next bull marketHistory tells us we’re in for a strong bull market with a hard landingCoinbase hoses down rumors of weekly withdrawal limits on Bitcoin

News Feed

Bitwise CIO says BTC ETFs are huge success and 13F filings make him ‘incredibly bullish’
Nancy Lubale3 hours agoBitwise CIO says BTC ETFs are huge success and 13F filings make him ‘incredibly bullish’Bitwise CIO Matt Hougan says this week"s 13F filings prove that the spot Bitcoin ETFs were a “huge succ
Tom Mitchelhill6 hours agoBinance Australia GM ‘really confident’ regulators will side with cryptoBen Rose is hopeful that Binance Australia’s banking woes will be relieved by positive regulation in the future.2671
Crypto hacks down by 54.2% in June, $176M lost in a month
Prashant Jha14 hours agoCrypto hacks down by 54.2% in June, $176M lost in a monthMay was the biggest month in terms of crypto losses in 2024 so far, with nearly $385 million in net losses suffered from crypto hacks.1104
Robert Kiyosaki Predicts Gold Price Soaring to $3,800 While Silver Rises to $75 in 2023
Robert Kiyosaki Predicts Gold Price Soaring to $3,800 While Silver Rises to $75 in 2023 The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has predicted
Investors Are Fleeing Ethereum, On‑Chain Numbers Reveal
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
William Suberg14 hours agoBitcoin bull market awaits as US faces ‘bear steepener’ — Arthur HayesBitcoin is witnessing a 16-year high in 30-year U.S. government bond yields, and money printing is all but guaranteed,
Students Mining Crypto in Dorms May Face Criminal Prosecution in Russia, Lawyer Says
Students Mining Crypto in Dorms May Face Criminal Prosecution in Russia, Lawyer Says University students in Russia minting digital currencies in their dormitories risk penalties an
Directors of Collapsed South African Crypto Investment Firm to Testify via Virtual Platform
Directors of Collapsed South African Crypto Investment Firm to Testify via Virtual Platform Ameer and Raees Cajee, the two directors of the South African crypto-investment platform
IMF execs float raising crypto mining electricity prices by 85%
Jesse Coghlan7 hours agoIMF execs float raising crypto mining electricity prices by 85%A tax on the energy used by crypto miners could cut emissions by 100 million tons a year, equal to Belgium’s emissions, say two IMF
GAIMIN Brings Blockchain and NFTs to Minecraft
GAIMIN Brings Blockchain and NFTs to Minecraft press release PRESS RELEASE. Zug, Switzerland, 13thJanuary 2022: As part of its strategic business objective to become the leading gam
Apple reportedly courting OpenAI to develop AI features for iPhone
Tristan Greene7 hours agoApple reportedly courting OpenAI to develop AI features for iPhoneThe Cupertino company is also considering a partnership with Google.2306 Total views13 Total sharesNewsOwn this piece of crypto h
Vikram Raj Singh11 hours agoImplementing tokenized securities for regulatory complianceSince they are programmable, tokenized securities enable the implementation of automated compliance rules and the execution of comple