Today, @HashKeyGroup's Hong Kong IPO has started subscription, and the brokerage defines it as "the first crypto stock in Hong Kong." I got a little to play with. Besides seeing that the cornerstone investors listed in the prospectus are quite impressive -- UBS (top foreign bank), Fidelity (top asset management), and CDH Investments (top state-owned capital), my confidence also comes from some insider news I heard in Dubai. Insiders familiar with the Hong Kong capital market say that Hashkey, which is not favored by people in the circle, is actually very sought after in the capital market, and institutions have to find connections to invest, which feels a bit like Hermes requiring a purchase quota 😂😂😂. This time, one of the cornerstone investors is Bosideng, the one that makes down jackets; traditional companies are also starting to lay out digital assets. It’s not impossible that they could lead domestic traditional companies to also speculate in the secondary market. Previously, during the $Crcl phase, most people in the circle were pessimistic, but it turned out to be a big miss. This time, I won't wear colored glasses for Hashkey; I put in the Hong Kong dollars I had before to ride the wave, and getting a winning bid should at least not lead to a loss, right? 😂😂😂 Prospectus link: @HashKeyGroup @siyahashkey