Hong Kong has unveiled a crypto tax exemption proposal to attract hedge funds, family offices and global investors, aiming to rival Singapore and Switzerland as a financial hub. Hong Kong has proposed exempting cryptocurrency gains from taxes for hedge funds, private equity and family investment vehicles in a bid to strengthen its position as a leading crypto financial hub.
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The Ethereum ecosystem is seeing increasing value growth, showing growing investor interest in Ethereum-native assets. Ethereum layer-2 (L2) networks have reached a new all-time high of over $51.5 billion in cumulative total value locked (TVL). This marks an over 205% increase in cumulative TVL, from just $16.6 billion in November 2023, L2beat data shows.
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XT.com, a cryptocurrency exchange trading $3.4 million daily, has suspended all withdrawals on its trading platform following an alleged $1.7 million hack. The announcement came out about an hour prior to the blockchain security firm PeckShield reporting that XT.com “appeared to have been hacked” for $1.7 million worth of cryptocurrency.
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