Ethereum

Bitcoin

Read

Coin

Chinese public game developer Linekong Interactive plans to purchase $6 million in Bitcoin and Ethereum.
In a <a href="https://www1.hkexnews.hk/listedco/listconews/gem/2024/0122/2024012200033.pdf" target="_blank" rel="noopener noreferrer nofollow">regulatory filing</a> with the Stock Exchange of <a href="https://crypto.news/tag/hong-kong/" target="_blank" rel="noopener noreferrer nofollow">Hong Kong</a> on Jan. 21, Linekong Interactive proposed a revision of its previously approved transaction to buy up to $5 million in Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) and Ethereum (<a href="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>). Now, the Hong Kong-based <a href="https://crypto.news/tag/gaming/" target="_blank" rel="noopener noreferrer nofollow">game</a> developer wants to increase that cap to $6 million, citing the rapid rise in crypto prices.
<blockquote class="wp-block-quote">
 “The company believes these revisions would provide flexibility to the board in capturing fleeting opportunities in the highly volatile cryptocurrency market.”
 Linekong Interactive
</blockquote>
You might also like: <a href="https://crypto.news/learn/china-crypto-bans-a-complete-history/" rel="noopener noreferrer nofollow"> China crypto bans: a complete history </a>
Once the company gets approval from its shareholders, it will need to re-comply with relevant provisions, including reporting, announcement, circular, and independent shareholders’ approval requirements, the filing reads. A circular, containing details of the proposal, is expected to be disclosed to shareholders on or before February 2, 2024.
Linekong Interactive’s move follows a trend among Hong Kong-based public companies venturing into the crypto space. In November 2023, crypto.news <a href="https://crypto.news/chinas-public-card-game-developer-to-put-100m-in-btc-and-eth/" target="_blank" rel="noopener noreferrer nofollow">reported</a> that Boyaa Interactive, an online game developer, also expressed its intent to invest up to $100 million in crypto. Boyaa aims to allocate up to $90 million in Bitcoin (BTC) and Ethereum (ETH), with the remaining $10 million allocated to stablecoins Tether (USDT) and USD Coin (USDC).
Read more: <a href="https://crypto.news/china-announces-criminal-penalties-for-theft-of-digital-assets-including-nfts/" rel="noopener noreferrer nofollow"> China announces criminal penalties for theft of digital assets including NFTs </a>

Hong Kong’s game developer Linekong Interactive to buy up to $6m in crypto

crypto.news

Other articles published on Jan 22, 2024

Ethereum set to lose after this major pullback, suggests data

Solana Succumbs to Bearish Momentum as Price Falls Under $90

What Does the Case About Tech Giant Kochava Reveals?

Ondo Finance expands tokenized asset platform to Asia Pacific region

Ethereum (ETH) Risks Trip to $2,000 If This Level Falters: Details

Film "13 Bom di Jakarta", Film Action Terbesar yang Diangkat dari Kisah Nyata Perjalanan Indodax

Join our free newsletter for daily crypto updates!