Blockchain Press Releases
Tiger Brokers’ Yang Xu Shares Insights on Bitcoin ETFs Bridging the Gap Between Traditional Finance and Digital Assets
HONG KONG, Oct. 9, 2024 /PRNewswire/ — Yang Xu, Global Partner at leading global online brokerage Tiger Brokers, shared insights on how Bitcoin Exchange-Traded Funds (ETFs) are shaping the traditional finance industry while speaking at InnoBlock 2024, one of TOKEN2049’s largest side events this year. Xu participated in a panel discussion titled Bitcoin ETFs and Traditional Finance: Bridging the Gap, where he shared that Bitcoin ETFs help to provide safer access to the underlying cryptocurrency while addressing several long-standing issues within the digital asset space, such as master custodian concerns.
With the approval of Bitcoin ETFs on the horizon in several jurisdictions, the panel centred on how these ETFs are seeing increased institutional demand, as well as the regulatory challenges the industry needs to solve in order to create a safer environment for wider institutional adoption of digital assets. Xu added that greater institutional demand from mature investors, particularly those seeking portfolio diversification and longer-term investments, could potentially contribute to greater market stability.
In addition to the panel discussion, Xu highlighted that there has also been increased interest from retail investors beyond institutional demand for digital asset trading. To meet this need, Tiger Brokers provides 24-hour Bitcoin ETF trading to its users globally. Moreover, Tiger Brokers (HK) provides its Hong Kong users direct access to digital asset trading. In January this year, it upgraded its Type 1 licence to include virtual asset dealing services, becoming one of the first mainstream fintech brokerage firms in Hong Kong to do so. In May, virtual asset trading services were officially launched to professional investors in Hong Kong. These services were then fully expanded to retail investors in June after SFC’s approval, and currently retail investors in Hong Kong can trade virtual assets including BTC, ETH, AVAX, and LINK.
Xu also added that Tiger Brokers’ institutional wealth platform, TradingFront, provides its institutional clients a competitive edge in Bitcoin ETF investing by offering a variety of order types, including time-weighted average price (TWAP) and volume-weighted average price (VWAP) orders, which are particularly useful for institutions seeking to execute large trades without significantly impacting market prices. TradingFront also supports conditional orders, allowing clients to set specific conditions under which trades should be executed, such as price triggers or time constraints.
“Ultimately, greater institutional inflows and uptake of Bitcoin ETFs would be a welcome addition — but to increase accessibility, the industry first needs to focus on strengthening regulatory frameworks, enhancing investor protections, and fostering collaboration among market participants. By proactively addressing these concerns, the industry can pave the way for broader approval of Bitcoin ETFs and further legitimize the digital asset space. Looking into the future, it would be exciting to see Bitcoin ETFs in the region, such as on the Hong Kong Stock Exchange, and witness how this will impact Southeast Asia’s traditional finance landscape,” added Xu.
-ENDS-
About Tiger Brokers:
Tiger Brokers (Nasdaq: TIGR), founded in 2014, is a leading online brokerage firm with a focus on redefining global investing with technologies for the next generation.
Since our inception, the company has relentlessly offered a superior user experience to let everyone enjoy efficient and smart global investing, by bringing a multitude of quality financial products and services across brokerage, employee stock ownership plan (ESOP) management, investment banking, wealth management, investor community, and investor education in our pursuit of becoming a world-leading online brokerage.
We strive to elevate financial technology R&D to a new level. While we inherit the best traditions from the financial sector and blend them with the best minds of tech experts, we develop our own technology infrastructure—an aggregation that enables multi-currency trading of various products across markets, guaranteeing our reliable, secure, and scalable services are accessible to all with low latency.
Currently, we serve over 10 million users and over 2 million account holders worldwide on our flagship platform “Tiger Trade”, own 78 licences and qualifications in different markets, and have over 1,000 employees on the team in Singapore, New Zealand, the US, Hong Kong, Australia, and China. In 2019, the company was listed on Nasdaq as UP Fintech Holding Limited under the ticker TIGR.
For more information about Tiger Brokers as a company, please visit itiger.com.
About Tiger Brokers (HK)：
Tiger Brokers (HK) Global Limited (Central number: BMU940) holds Class 1, 2, 4, 5 and 9 licences of the SFC. Starting from 30th November 2022, with Tiger Trade, Tiger Brokers’ flagship app, Hong Kong users can trade financial products from major markets around the world, such as Hong Kong stocks, warrants, options, US stocks, US fractional shares and ETFs, etc., providing a one-stop solution to their investment needs. In the future, we will continue to expand our trading markets and categories to better serve Hong Kong investors.
For more information about Tiger Brokers (HK), please visit tigerbrokers.com.hk
About TradingFront:
TradingFront by Tiger Brokers is the next-gen institutional wealth management platform that provides independent wealth and asset managers and family offices with solutions that enable better management of client investments and enhance operational service efficiency.
For more information, please visit https://www.itiger.com/sg/market/tradingfront?lang=en_US.
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Blockchain Press Releases
Bybit Invests $1M in EthicHub Through Blockchain for Good Alliance to Drive Agricultural Finance for Global Farming Communities
DUBAI, UAE, Feb. 24, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, proudly announces a $1 million impact investment in EthicHub, facilitated through the Blockchain for Good Alliance (BGA).
Since pioneering the Blockchain for Good Alliance in April 2024, Bybit has championed the use of blockchain innovations to solve real-world challenges. EthicHub, a key project supported by the BGA Incubation Programme and the Grand Social Impact Award winner at the BGA Web3 Oscar, exemplifies this vision by leveraging blockchain to drive financial inclusion and empower smallholder farmers. This investment aligns with Bybit’s commitment to leveraging blockchain technology for tangible social impact, driving financial inclusion for smallholder coffee farmers in emerging markets.
Empowering Sustainable Coffee Farming Through Ethical Finance
EthicHub is revolutionizing agricultural finance by integrating productive lending, blended finance, and market access. With this $1 million investment, Bybit will establish the “Bybit Pool”, a dedicated fund within the EthicHub ecosystem designed to provide ethical credit lines to small and medium-sized coffee farmers.
This initiative will empower farmers to break free from exploitative lending practices, improve productivity, and secure fair prices for their coffee. Additionally, it aligns with Bybit’s broader mission of bridging the gap between blockchain solutions and real-world economic transformation.
Key Highlights of the Investment Agreement:
- Exclusive Fund: Bybit’s investment will be managed exclusively within the EthicHub ecosystem, ensuring transparency and accountability.
- Sustainable Social Impact: The fund provides direct financial access to coffee farmers, fostering economic resilience in rural communities.
- Fair Financial Returns: Bybit will receive an 8% annual return over a 15-month term, demonstrating the viability of impact investing.
- Transparency & Reporting: LendingDev, EthicHub’s operator, will provide quarterly performance updates and comprehensive end-of-term reporting.
A New Era of Blockchain-Powered Social Good
Bybit’s investment exemplifies how blockchain-powered finance can drive sustainable change. Through BGA’s role in fostering strategic collaborations, this initiative paves the way for blockchain adoption in real-world economic empowerment.
“Blockchain has the power to unlock new financial opportunities for those historically excluded from traditional banking systems. Our $1 million investment in EthicHub reinforces Bybit’s dedication to using innovation for real-world impact, proving that blockchain can be both profitable and transformative,” said Helen Liu, Chief Operating Officer at Bybit.
Gabriela Chang, CSO & Co-founder of EthicHub added: “Bybit’s commitment is a game-changer for our mission. This investment will directly support smallholder coffee farmers, enabling them to increase productivity, access fair financing, and secure better market opportunities. It is an example of how blockchain can create real-world solutions for pressing global challenges.”
Case Study: EthicHub’s Impact – How Neri Ortiz Transformed His Future
For generations, smallholder coffee farmers like Neri Ortiz in Motozintla, Mexico, faced relentless challenges: unstable coffee prices, predatory lenders, and limited market access. With no financial safety net, many were forced to abandon farming altogether.
The introduction of EthicHub changed everything. By offering fair, blockchain-powered financing, EthicHub provided Neri and his cooperative with the resources to improve production, invest in sustainable farming techniques, and eliminate exploitative middlemen. For the first time, they could sell directly to specialty coffee buyers at fair market prices.
This access to ethical lending transformed not just Neri’s farm but his entire outlook. He began experimenting with quality-enhancing techniques like controlled fermentation, which boosted the value of his coffee. With newfound financial stability, he reinvested in his farm, secured better futures for his family, and began mentoring other farmers to do the same.
Bybit’s investment in EthicHub ensures that more farmers like Neri can break free from financial hardship, build resilient livelihoods, and sustain the agricultural traditions that feed global coffee markets. This is the power of blockchain-driven impact investing—real solutions for real people, transforming entire communities.
Join the Movement
Bybit invites fellow blockchain innovators and socially responsible investors to explore the possibilities of blockchain-powered impact investments. By working together, the industry can drive sustainable economic solutions that benefit both investors and underserved communities.
For more details on EthicHub’s initiatives, visit EthicHub Website.
#Bybit / #TheCryptoArk /#BGA
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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Blockchain Press Releases
Bybit Defies Odds: How the Largest Crypto Hack in History Became a Test of Resilience and Transparency
DUBAI, UAE, Feb. 23, 2025 /PRNewswire/ — In a remarkable display of resilience and professionalism, Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has successfully navigated the largest hack in crypto history. On February 21, 2025, hackers stole approximately $1.5 billion in digital assets from Bybit’s Ethereum wallet, marking the biggest cryptocurrency heist ever recorded. Despite this unprecedented breach, Bybit’s swift and transparent crisis management ensured that the crypto market remained stable, with no significant price volatility.
Swift Crisis Management
Bybit’s response to the hack was marked by swift action, transparency, and professionalism. Ben took immediate ownership of the situation, addressing the community within 30 minutes via X and conducting a livestream session just one hour after the incident. This live session, which lasted over two hours, provided real-time updates and detailed explanations, ensuring that all stakeholders were informed and reassured. Bybit’s prompt and open communication effectively prevented panic and maintained trust in the exchange, setting a high standard for crisis management in the crypto industry
Throughout the crisis, Bybit’s withdrawal and product services remained uninterrupted, with clients able to access support and their respective relationship managers at all times. This seamless continuity was a testament to the team’s preparedness and efficiency, even under extreme pressure.
Industry Unity in Support of Bybit
The crypto industry rallied around Bybit, demonstrating a united front against security threats. Major exchanges blacklisted the hacker’s wallets, preventing further movement of stolen funds. This unprecedented show of unity underscores the growing maturity of the crypto sector, where competitors become allies in times of need.
Client Fund Protection
Despite the significant scale of the hack, Bybit’s 1:1 reserve guarantee ensured that client assets remained fully intact. Bybit CEO Ben Zhou reassured users that Bybit is solvent and can cover the loss, emphasizing that all client assets are backed on a one-to-one basis. This guarantee demonstrates Bybit’s financial stability and commitment to user security.
Regulatory and Law Enforcement Collaboration
Bybit worked closely with regulators and law enforcement agencies to address the hack. This collaboration not only facilitated a swift response but also set a precedent for future cooperation between the crypto industry and regulatory bodies. As the incident unfolds, further developments are expected from this front, potentially leading to enhanced security measures and regulatory frameworks.
Rapid Recovery
Bybit demonstrated remarkable resilience in the face of the crisis, processing over 350,000 withdrawal requests efficiently within 12 hours of the hack. Despite the surge in withdrawal requests, the exchange ensured that all transactions were completed without significant delays, showcasing the team’s professionalism and experience in managing critical incidents. Bybit’s operations quickly returned to normal, with client activity rebounding to pre-hack levels within 24 hours. This swift recovery underscores the trust that clients and investors have in Bybit’s crisis management capabilities, highlighting the exchange’s ability to maintain stability even in the most challenging circumstances
Bybit’s handling of the recent hack sets a new industry standard for crisis management. The exchange’s ability to turn a potentially disastrous event into a demonstration of resilience and transparency is a testament to its long-standing culture of responsibility and openness. This incident highlights not just Bybit’s operational excellence but also the growing maturity and unity of the crypto industry as a whole.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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SINGAPORE, Feb. 23, 2025 /PRNewswire/ — In the wake of the recent $1.5 billion hack affecting a major cryptocurrency exchange, HTX hosted a live discussion on X and its Global Advisor Justin Sun addressed the growing security concerns in the cryptocurrency industry. The discussion, titled “Together Against Industry Crisis, Is There a Best Solution for the Security of the Crypto Industry?” featured insights from leading security firms SlowMist and GoPlus Security, as well as prominent KOLs.
Security: A Top Priority for HTX
Sun stressed that security is a “top priority”, demanding constant vigilance and learning. He illustrated how hacker tactics have evolved, from early hot wallet attacks to more sophisticated multi-signature wallet breaches, and declared that exchanges must continuously enhance their security protocol.
Sun emphasized that security is like personal health management, requiring internal efforts and a proactive approach. HTX has implemented multi-device login, remote login alerts, abnormal transfer alerts, and other security features, and has publicly disclosed Merkle Tree Proof of Reserve (PoR) for 28 consecutive months, maintaining reserve ratios exceeding 100%.
Sun’s Influence on Security Practices Across the Crypto Landscape
Sun’s commitment to security extends to his vision for HTX and his influential role in shaping security practices across the broader crypto landscape. He believes that the principle of security is considered fundamental to every business and product. He cited the early implementation of native multi-signature functionality in TRON as a successful example of proactive security design, demonstrating his commitment to building security into the foundation of his projects. He also highlighted the recent launch of USDD 2.0, emphasizing the deep understanding of stablecoin security risks that informed its development. “Just as exchanges should strengthen security mechanisms from the source in system design and operation, to maximize the prevention of security incidents,” Sun stated.
Sun also revealed that HTX collaborates with numerous white hat teams to conduct continuous penetration testing, security drills, and vulnerability mining. The platform actively monitors global cryptocurrency security incidents and studies hacker attack principles and methods for effective prevention.
Addressing the Situation and Industry Cooperation
Regarding the controversy surrounding CZ’s suggestion for the affected exchange to suspend withdrawals, Sun acknowledged the validity of the advice from an exchange perspective. He explained that the initial hours after a security breach are crucial for investigating the issue and ensuring safety. While suspending withdrawals is necessary to eliminate risks, the suspension period should be minimized to reduce user impact.
Sun called for closer cooperation between exchanges, security agencies, and the community to jointly address hacker threats, promote technological sharing, security innovation, and information exchange, and promote the healthy and sustainable development of the industry.
HTX’s Commitment to User Safety
HTX demonstrates its commitment to security through a proactive and continuously improving approach. The platform’s multi-faceted security strategy encompasses collaboration with leading security experts, rigorous ongoing monitoring, robust internal protocols, and a focus on enhancing multi-signature support, security alerts, and mitigating emerging threats such as hashtag scams. This comprehensive strategy reflects HTX’s dedication to safeguarding user assets and fostering a secure and reliable trading environment. This commitment was further emphasized by the specific security protocol requirements shared by Justin Sun at the February 21st Meetup in Hong Kong.
About HTX
Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.
As a world-leading gateway to Web3, we harbor global capabilities that enable us to provide users with safe and reliable services. Our growth strategy – “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance”, underpins our commitment to providing quality services and values to virtual asset enthusiasts worldwide.
For more information on HTX, please visit the HTX Square, or https://www.htx.com/, and follow X, Telegram, Discord. For further press enquiries, please contact [email protected].
Contact Details
Ruder Finn Asia
[email protected]
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