Not long ago, many friends asked me to talk about Hashkey. I said I really wasn't familiar with Hashkey. Recently, I've had a bit of free time, so I took a look. The background is actually quite impressive. Their backer is Wanxiang, who invested $60 million in Circle's Series D round in 2016, along with IDG and Everbright. It was indeed one of the most prominent circles back then. Not to mention, their network and judgment on compliance and Web3 layout are indeed noteworthy.

In fact, compliance is definitely a major trend now. Recently, Singapore cleared out institutions without licenses. Hashkey has all the necessary licenses. Overall, it's really in line with the policy benefits of Hong Kong. The only issue that needs to be resolved is the users. As long as they can accurately identify and capture the corresponding users, there will definitely be survival space for exchanges like Hashkey under a compliance-oriented direction. Looking at the data, in the past month, there was an inflow of $500 million to $1 billion, mostly voluntary deposits of high-quality assets like BTC, ETH, USDT, USDC, and Staking Tokens.

That still looks very promising, haha. Let's continue to watch the compliance battles in various places. Suddenly, it feels like each city is also a kind of liquidity war.