SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Chinese cryptocurrency asset managers hope to avoid an intensified crackdown at home by expanding in places such as Hong Kong and Singapore.
Cryptocurrency-focused hedge funds enjoyed hefty gains this year thanks to bitcoin’s recent surge to over $18,000, close to its 2017 high.
China has been tightening scrutiny over cryptocurrencies as the People’s Bank of China (PBOC) launches its digital currency, partly as a response to the threat from currencies like bitcoin.
Consequently, Chinese businessmen are looking elsewhere to raise crypto-focused funds.
Among them is Babel Finance, a cryptocurrency financial services provider founded by Chinese entrepreneur Flex Yang, which applied for an asset management license in Hong Kong.
According to Yang, a license in Hong Kong would help Babel become a “gateway” between traditional financial institutions and crypto investing.
Yang, who hopes to raise $1 billion upon receiving a license in Hong Kong, dreams of making Babel Finance the “JPMorgan in the field of cryptocurrency.”
Gordon Chen, an ex-bitcoin trader in Beijing who co-founded cryptocurrency asset manager GMR in Singapore last year, chose Singapore because of its regulatory structure.
Chen currently manages over $20 million of bitcoin assets.
China banned virtual currency trading in 2017, stunting an emerging crypto industry, and bringing down its share of global bitcoin trading to less than 4 percent, from nearly 17 percent.
Several of the world’s largest crypto trading platforms founded in China were forced to move overseas in 2017.
In October, the PBOC outlawed the private issuance of digital currencies, forcing Malta-based exchange OKEX to suspend cryptocurrency withdrawals for a month.
GMR’s Chen noted that China had lost its global pricing power and its role as a key hub for bitcoin trading and mining.
