Henri Arslanian, A Former PwC crypto arm leader, stated in a report that digital asset fund Nine Blocks Capital Management will be receiving $75 million from major supporters including Hong Kong-based hedge fund Nine Masts Capital.
brief Facts :
- Nine Masts Capital, an Hedge Fund based in Hong Kong, has provided $75 million to the fund.
- According to the report, Henri Arslanian’s fund Nine Blocks Capital Management has received provisional regulatory approval in the Gulf City.
- Arslanian claims he moved to Dubai to find the fund. This is due to the stricter regulations in both Hong Kong and Singapore regarding the crypto industry.
- Hong Kong has prohibited retail investors from investing in certain digital assets classes such as Bitcoin spot ETFs. It also plans to legislate a licensing scheme for crypto-exchanges.
- After the recent insolvenciesof crypto lenders,The Singapore Monetary Authority is said to have considered plans to regulate stablecoins and restrict retail crypto investors in the country.