Wu Blockchain says Chinese-rooted crypto industry is increasingly clustering in Hong Kong

Chinese-rooted cryptocurrency industry participants are increasingly converging on Hong Kong, according to Colin Wu, operator of the crypto media outlet Wu Blockchain. In a post on X, Wu said former Huobi founder Li Lin has personally reentered the exchange business and has been drawing industry figures around him through weekly gatherings in Hong Kong. Wu added that Li has effectively taken on a role similar to an industry elder in Hong Kong’s crypto sector. Wu also said Binance founder Changpeng Zhao, or CZ, appears to visit Hong Kong more often than Singapore, while HashKey Group Chairman Xiao Feng and TRON founder Justin Sun also spend significant time there. Amid those moves, Wu said the center of gravity for the Chinese-rooted crypto industry appears to be shifting to Hong Kong, while non-Chinese-rooted industry participants still tend to prefer Singapore, Dubai and Tokyo.