Hong Kong’s securities regulator has ordered a company that’s raising capital through an initial coin offering to halt the fundraising and return all tokens to investors, an unprecedented move to rein in the runaway market for cryptocurrencies.
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China Literature, Tencent Holdings’ online publishing spin-off that aims to be “China’s version of Marvel”, posted a 15-fold increase in net profit for its first earnings report after going public in Hong Kong in November.
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