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HashKey Holdings, Hong Kong’s top licensed crypto exchange operator, passed its HKEX listing hearing on November 30, 2025, advancing its IPO plans with sponsors JPMorgan, Guotai Haitong, and Guotai Junan. In 2024, it hit HK$81.9B ($10.5B) trading volume and HK$721M revenue but reported losses from expansion. As of August 2025, it holds HK$1.657B cash and HK$592M in crypto assets like BTC and ETH.
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