Another Hong Kong firm joins the crypto FOMO

Inkeverse Group Limited, a Hong Kong entertainment streaming group, will follow in the footsteps of Boyaa Interactive and invest up to $100 million of its corporate funds into cryptocurrencies. “The Board believes in the potential of cryptocurrencies and the impact of investing cryptocurrencies on the Group’s Web3.0 business development strategy and asset allocation strategy,” its staff wrote.

The company’s initial allocation plan involves $60 million in Bitcoin, $20 million in Ether, and $20 million in USD Coin. In supporting its decision, Inkeverse praised both Bitcoin’s “tremendous growth potential”andEthereum’s“development of Layer-2 solutions,”and said that “investing in multiple cryptocurrencies reduces the risk associated with the volatility of any single cryptocurrency.”Once finalized, Inkeverse will purchase the cryptocurrencies on the open market through regulated platforms such as HashKey and OSL Exchange.

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