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.
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