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Hong Kong police are investigating a HK$21.4 million cryptocurrency scam; no arrests have been made so far.

Hong Kong police are investigating a HK$21.4 million cryptocurrency scam after a victim reported being unable to withdraw funds from a trading platform. The case is classified as "obtaining property by deception," and no arrests have been made. Authorities warn the public to be cautious of high-return investment projects and to understand the risks associated with virtual products before investing.

Hong Kong's Financial Secretary Highlights Digital Assets at Davos Forum

Hong Kong's Financial Secretary, Paul Chan, spoke at the World Economic Forum in Davos, highlighting the benefits of digital assets in finance. He emphasized their role in enhancing transparency and efficiency while supporting technological development. Hong Kong is taking a proactive approach to digital assets, adhering to the principle of "same activity, same risk, same regulation." The city has licensed 11 virtual asset trading platforms and plans to issue stablecoin licenses. Additionally, it has issued $2.1 billion in tokenized green bonds and launched a regulatory sandbox to foster innovation.

On Thursday, at the close in New York, the CME Bitcoin futures main contract rose by 0.78%, reporting at $93,510. The CME Ethereum futures main contract fell by 2.56%, reporting at $3,277. The U.S. stock cryptocurrency index decreased by 0.17%, reporting at 71.76 points. The MarketVector Digital Assets 100 Small Cap Index fell by 2.23%, reporting at 4,071.03 points

Bitcoin has shown a V-shaped trend in the short term, returning to the line of $93,270. Around 22:00 Beijing time, it almost completely retraced the earlier intraday gains, approaching $91,500

Bitcoin rises nearly 7%, reaching a two-week high

Bitcoin continued its initial rebound today (3rd), reaching a high not seen in over two weeks, rising 6.87% to $93,030, while Ethereum also increased by 9% to $3,059. Melvin Deng, CEO of QCP Group, stated that this rebound is actually just a relief rally, and Bitcoin may regain some momentum. For investors who have not fully deployed Bitcoin, now is an excellent time to enter the market