HashKey Becomes Crypto Unicorn After Closing $100M Raise
Summary
Hong Kong-based crypto exchange operator, HashKey Group, has nearly reached its $100 million fundraising goal. The fundraising round was announced in August after the firm received a license from Hong Kong's security regulator to offer retail crypto trading. The investors in the round were not disclosed. The post-raise valuation of HashKey is $1.2 billion, earning it the status of a "unicorn", a term for private companies valued at $1 billion or more. Despite a three-year low in crypto fundraising in Q3 2023, optimism is growing due to a rally in bitcoin and other major digital assets in Q4 2023 and the recent approval of the bitcoin ETF.
