Hong Kong's Securities and Futures Commission approves Ant Group's acquisition of stablecoin-focused Bright Smart Securities
according to Caixin, the Hong Kong Securities and Futures Commission has approved Ant Group's acquisition of Hong Kong local brokerage firm and stablecoin concept stock, Bright Smart Securities. However, it still awaits approval from the National Development and Reform Commission. Bright Smart Securities surged 30% during trading today. In April of this year, Ant Group announced a tender offer to acquire 50.55% of Bright Smart Securities' shares. At that time, there were rumors in the market that Ant's acquisition of Bright Smart Securities was for the purpose of applying for a virtual asset trading platform license. It is understood that Bright Smart Securities is a well-established local brokerage firm in Hong Kong, holding licenses 1, 2, 3, 4, 5, 7, and 9 in Hong Kong, covering Hong Kong stocks, US stocks, Shanghai-Shenzhen-Hong Kong Stock Connect, financing, and futures business. During the stablecoin craze in Hong Kong in July-August, Bright Smart Securities was also a popular stablecoin concept stock.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
ZEC drops 11.51% over 24 hours, Large Holder Movements and Accumulation Patterns Indicate Market Fluctuations
- ZEC fell 11.51% in 24 hours as a major whale liquidated 30,000 ZEC ($960K), facing 46% unrealized losses and a $420 liquidation price. - Binance saw $30M ZEC accumulation via coordinated whale buys, while the largest short position (0xd47) reduced losses to $10.87M amid ongoing bearish bets. - Zcash’s November 2025 halving will cut block rewards by 50%, boosting scarcity, while Grayscale’s $137M Zcash Trust highlights growing institutional interest. - Privacy-focused Zcash gains regulatory clarity under
Bitcoin News Update: Short Sellers Hit Hard as $341M in Crypto Liquidations Sparks Volatility Spike
- Bitcoin's $106,000 surge triggered $341.85M in crypto liquidations, with short sellers losing $106.75M as leverage-driven volatility spiked. - Senate's shutdown resolution boosted Bitcoin 3.93% in 24 hours, alleviating regulatory uncertainty and injecting market optimism. - Hyperliquid's $18.96M single liquidation highlighted risks of 1,001:1 leverage, as platforms amplified price swings through stop-loss mechanisms. - November's $20B in crypto derivatives liquidations revealed systemic fragility, with E
XRP News Today: XRP ETFs: Wall Street's Pathway to a $6 Trillion Ambition
- U.S. regulators fast-track XRP ETF approvals, with 21Shares, Franklin Templeton, and Canary Capital nearing launches by late November. - Analysts predict XRP could surge to $100–$1,000 if multiple ETFs debut simultaneously, potentially pushing its market cap to $6 trillion. - Ripple's $4B funding round and SEC court rulings validate XRP's utility in cross-border payments, signaling institutional adoption. - Risks persist, including regulatory delays and unmet adoption targets, though ETFs could normalize
Bitcoin News Update: As AI Sparks a Modern Gold Rush, Bitcoin Miners Shift Focus from Blocks to Bytes
- Bitcoin miners like CleanSpark pivot to AI/HPC as mining profitability declines, raising $1.15B for infrastructure expansion and share buybacks. - Industry peers TeraWulf and Core Scientific expand HPC capacity, shifting valuation focus to AI hosting revenue ($1.5-2M/MW/year) over hashrate growth. - Regulatory hurdles and GPU shortages challenge AI infrastructure scaling, but long-term demand projects U.S. data-center electricity use to hit 606 TWh by 2030. - Hybrid crypto-AI infrastructure becomes a sca
Trending news
MoreCrypto prices
More
