A Hong Kong-based start-up accelerator will offer assistance to 1,000 web3 start-ups to bring business to the region. Hong Kong is attempting to reclaim its crypto hub status by achieving the target in the next three years.
Кытайдын Post билдирди that G-Rocket is trying to rope companies into the sector to bring more business to the region.
What’s more intriguing is the startup’s executive body. While co-founder Johnny Ng Kit is a Hong Kong lawmaker, several other executives are Chinese investors stationed in Singapore and Dubai—two rival crypto hubs.
FTX Contagion Unable to Stop Web3 Businesses
Джастин Сан, негиздөөчүсү TRON, recently asserted in an интервью that China actively watches Hong Kong’s legislative actions on cryptocurrencies. He added that he is particularly “bullish” as Hong Kong serves as China’s “experiment base.”
Notably, the report also comes after the FTX contagion dampened the web3 market. The Hong Kong-registered cryptocurrency trading company Auros then revealed that it is entering provisional liquidation due to financial issues. Atom Asset Exchange (AAX), situated in Hong Kong, was likewise compelled to Heck withdrawals as a result of the implosion. The crisis also prompted strong worldwide regulatory action. The Securities and Futures Commission (SFC) of Hong Kong didn’t waste any time in колдонуучуларга эскертүү about the dangers of staking platforms and exchanges.
Despite several warnings in the web3 space, Hong Kong ишке two crypto-based exchange-traded funds (ETFs) for the first time.
Source: https://beincrypto.com/hong-kong-legislator-aims-woo-web3-businesses-startup-accelerator/