I guess let's talk about what you guys are doing on the Tron side in just a
moment, but your reaction to the latest on Sandbank when freed?
I think we had Yahtzee of any Moka brands last week and he said the
industry and I'm paraphrasing is cheering the arrest of Sandbank when
freed because this separates him from the industry.
Do you feel the same way? Yes, I believe, first of all, the fall
of DAX probably like marks on the end of the crypto bearish market.
I believe this is like the last bad news we have.
So I think right now the industry needs United to gather to show the strength
and also to restore the confidence of the customer to not only centralize
exchange, but also to the whole industry.
Just it just got some news come from The New York Times about buying rent free.
Then TV and talks happening with us prosecutors over bail here.
They're looking for a bail deal. This is one of the reasons we're not on
why he perhaps decided to go back and not fight extradition here.
But give us a sense, though, Justin, because I think it was the 10th of
November when you had said that you were willing to actually help out FTSE.
You were prepared to cover some of the losses once due diligence was done.
Now, what did you find in that due diligence?
It's going to be key. Yes.
So basically, I think Sam completely lost all older control RTX after he
signed the Chapter 3. So there is not like much left for due
diligence, especially after the bankruptcy construction, because
majority of the control rise goes to John Wray, the current CEO.
So. But still, I would be kind of surprised.
You know, we'll be exact.
ISE to a United States for the trial in this show.
The Puro. Justin, I'm curious, have you been in
contact with Sam recently, recently? No.
Of course. Oh, okay.
OK. Just just just thought of asking.
Not now. I mean, the other sort of parallel story
here, and you probably know about this new ETF, it's on unscripted that were
launched in Hong Kong. I think it was it was late last week,
right? It was CSI Asset Management.
And, you know, a lot of people were pointing to that avenue of investment as
perhaps not completely erased replacing, but as a new avenue for investors to get
exposure to crypto, because obviously the optics are it's safer in these
traditionally changes. How would you respond to that?
Yes, I definitely believe this is a big move for the whole crypto industry
because I was trading crypto in Hong Kong, I think back to 2000 and 20.
So at that time on there, even now. Basically, I think at that time, Hong
Kong regulators are not even comfortable to let us trade that crypto reskill
products. So basically at that time, we don't have
BGF at all. So the US crypto ETF Hong Kong either
have either only reskilling or that by that time our Hong Kong regulators fewer
speak. Why is CRM is very sensitive?
They want to be aligned with us a Chinese government regulation.
So so they don't. You want your to try to rescue crypto at
that time. But right now I think we're seeing
change dramatically in the past two years.
I will say how right now I think he is in a very embrace crypto mode.
So. So that's why I think not only the
launch crypto ETF today and that they welcome like every exchange to establish
their Hong Kong branch. I think not only is Mark's basically
pleased, the opening up of crypto in Hong Kong, but I think he's also opened
up the overall crypto policies in China. I believe then that spool markets with
depended on Chinese market, which we have seen in the past, you know, in 2000
and twelve and to 2000 and 17 actually true markets in surging and the EU 17 is
decided by Chinese currency and also Chinese markets at that time.
Right. Like 90 percent of the water is depended
by by Asia. Mark CAC is.
Well adjusted, I'd like to ask you about that, because do you think regulators in
Hong Kong approving embrace the embrace of crypto?
Do you think that's something that might indicate a change of heart from
regulators on the mainland? Yes, absolutely.
I think right now Chinese regulators seize Hong Kong basically like a
Shenzhen. So before I think for most of the policy
makers, they see Shenzhen as an experiment zone.
So they want to try anything, say they will allow like Shenzhen, do it first.
But right now, I think Hong Kong definitely have a better position
compared to Shenzhen because he has a way better
status and also infrastructure, all financial institution.
So that's why I think right now they are using Hong Kong as an experiment place
so they can see all the feedbacks. Oh, the results was they are, Bob, like
crypto. So.
So that's why I'm super bullish and also looking forward to seeing the result.
All right. Oh, the Hong Kong crypto policy.