TechFlow reported, according to Bloomberg, that cryptocurrency investment firm Hashkey Group plans to raise funds at a valuation of over $1 billion by leveraging Hong Kong's digital asset promotion strategy to attract potential investors.
According to people familiar with the matter, Hashkey, one of only two licensed cryptocurrency exchanges in Hong Kong, is in preliminary talks to raise between $100 million and $200 million.
The deal is ongoing, but terms such as size and valuation could still change as it has not yet been finalized.
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