HONG KONG — Crypto-oriented companies in Hong Kong that had aspired to replicate the rise of “digital asset treasuries” in the U.S. are instead emphasizing other lines of business, from online poker to Pokemon trading cards, as the DAT model begins to crack.
From poker to Pokemon, Hong Kong crypto stockpilers rebrand
Cryptocurrencies
Bear market, city regulators weigh on companies that hoped to be next big ‘DAT’
Hong Kong has sought to become a hub for the crypto sector, but its regulators are striking a firmer tone and a sell-off has made it harder for companies to sustain cryptocurrency-buying strategies. © Reuters
LORRETTA CHEN and PEGGY YE
November 30, 2025 14:47 JST
