– Hong Kong-based crypto exchange Hashkey has announced insurance coverage for clients’ assets stored in its hot and cold wallets. The policy will cover 50% of assets in cold wallets and 100% of assets in hot wallets, with a potential payout of $50 million to $400 million in the event of a claim. Hashkey also plans to submit four major altcoins for listing approval to the Hong Kong Securities & Futures Commission.
– BC Technology Group, the owner of licensed exchange OSL, has received a $91 million strategic investment from BGX crypto group. Last month, BC Technology Group denied reports that it was seeking to spin off the OSL exchange for $128 million.
– Crypto media publication The Block has received a $60 million investment for 80% of its equity from Singaporean venture capital firm Foresight Ventures. The investment will allow The Block to build new products and expand its footprint into Asia and the Middle East.
– A Chinese court has voided a crypto investment contract, ruling that cryptocurrencies contravene the spirit of the country’s crypto ban and are not protected by law in civil disputes. This follows similar rulings by other Chinese civil courts earlier this year.
– The Philippines’ Bureau of Treasury is planning to raise $180 million through the issuance of tokenized bonds on its domestic capital market. The bonds will be issued in the form of digital tokens and maintained in the Bureau’s Distributed Ledger Technology Registry. This move is part of the government’s efforts to digitalize the government bond market.
