In the latest cryptocurrency news, there is a lot of talk about the crypto startups present in the Asian society – and particularly the crypto market in Hong Kong, which is said to be one of the most evolving one out there alongside New York, London and Sydney.
It seems like there are more and more crypto startups now than ever before in Hong Kong. Their initiative has also made them more popular than many banks and gave them a chance to move into the most valuable skyscrapers in the city.
A perfect example is BitMEX, the popular cryptocurrency exchange that facilitates Bitcoin and Ethereum margin trading, moving its headquarters to the Cheung Kong Center’s 45th floor and renting out 20,000 square feet at $28.66 per square feet.
This will make BitMEX operate in an office that is situated in one of the most valuable skyscrapers in the country, alongside companies like Barclays, Bloomberg, Goldman Sachs, Bank of America and the SEC of Hong Kong.
Together with Diginex Global which is another crypto startup, BitMEX is renting out 72,000 square feet in total and paying around .
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3 million per month.
Meanwhile, a local publication reported that Goldman Sachs is relocating from Hong Kong Central to Causeway Bay in the next few months to save 30% on rent. BNP Paribas has also relocated its offices to Swire Properties’ Taikoo Place and many other banks are planning to do the same move.
Despite the 80% drop in valuation of the crypto market, over the past nine months, many crypto-related businesses have prospered, especially exchanges, which continue to generate large revenues.
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