On 3 February 2023, Chuangqi International Limited, a wholly-owned subsidiary of GoFintech Innovation Limited (290.HK), entered into a new shareholders’ agreement with, among others, MaiCapital Limited and its parent company, BA Fintech Lab Limited with the aim of deepening and strengthening the strategic cooperation relationship among the parties and achieving common development with shared benefits.
The fresh funding this year will go towards activities including organising workshops and international seminars, Financial Secretary Paul Chan said.
Hong Kong has ramped up efforts to bolster the digital economy, including new virtual asset regulations and support for artificial intelligence.
“We’re happy to see that the government will be establishing a task force on Web3,” said Marco Lim, managing partner at MaiCapital, a Hong Kong-based blockchain-focused hedge fund that was licensed last year to manage portfolios consisting only of virtual assets. “We hope the task force can coordinate with the two regulators on Web3-related matters, attract global Web3 companies to set up in Hong Kong and promote Hong Kong’s Web3 companies.”
Wall Street did it! At least that is one of the theories about the cause of the nearly US$50 billion meltdown of Terraform Labs stablecoin and LUNA cryptocurrency. How does that stand up?
"Michael Wong, cofounder and managing partner of Hong Kong-based crypto hedge fund MaiCapital, said the nature of DeFi or blockchain projects is that “they have to remain very open in terms of the transactions.”
This can expose them to aggressive trading strategies, he said, noting that this illustrates the need for robust risk management. MaiCapital’s strategy ..."