{"id":34834,"date":"2025-07-02T16:01:31","date_gmt":"2025-07-02T16:01:31","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=34834"},"modified":"2025-07-02T16:01:31","modified_gmt":"2025-07-02T16:01:31","slug":"china-renaissance-banks-on-cryptocurrencies-to-revive-its-fortunes","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=34834","title":{"rendered":"China Renaissance Banks On Cryptocurrencies To Revive Its Fortunes"},"content":{"rendered":"<div>\n<p><figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"900\" height=\"600\" src=\"https:\/\/contributor-assets.benzinga.com\/wp-content\/uploads\/2025\/07\/02084458\/China-Renaissance-0702-900x600-1.png\" alt=\"\" class=\"wp-image-15214\" srcset=\"https:\/\/contributor-assets.benzinga.com\/wp-content\/uploads\/2025\/07\/02084458\/China-Renaissance-0702-900x600-1.png 900w,https:\/\/contributor-assets.benzinga.com\/wp-content\/uploads\/2025\/07\/02084458\/China-Renaissance-0702-900x600-1-300x200.png 300w,https:\/\/contributor-assets.benzinga.com\/wp-content\/uploads\/2025\/07\/02084458\/China-Renaissance-0702-900x600-1-768x512.png 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\"><\/figure>\n<\/p>\n<p><em>The investment bank plans to spend $100 million on digital assets as it struggles to boost its business in a weak Chinese economy<\/em><\/p>\n<h4 class=\"wp-block-heading\"><strong>Key Takeaways:<\/strong><\/h4>\n<ul class=\"wp-block-list\">\n<li>China Renaissance plans to invest $100 million in digital assets, more than two years after its former founder and chief rainmaker was detained for bribery<\/li>\n<li>The move comes as the company&#8217;s main investment banking business faces headwinds amid an economic slowdown in China, while cryptocurrencies are on a bull run<\/li>\n<\/ul>\n<p>For companies looking to make a quick, large investment with big profit potential, the appeal of cryptocurrencies can be irresistible these days. That club gained a new member last week with the entry of\u00a0<strong>China Renaissance Holdings Ltd.<\/strong>\u00a0(1911.HK), the investment bank that became embroiled in controversy more than two years ago with the detention of its founder and chief rainmaker on suspicion of bribery.<\/p>\n<p>Last Thursday, the company\u00a0<a href=\"https:\/\/www1.hkexnews.hk\/listedco\/listconews\/sehk\/2025\/0626\/2025062600626.pdf\"><strong>said<\/strong><\/a>\u00a0its board approved a plan to invest $100 million of its internal resources in Web 3.0, or a decentralized internet built on blockchain and crypto assets. It also\u00a0<a href=\"https:\/\/www1.hkexnews.hk\/listedco\/listconews\/sehk\/2025\/0626\/2025062600570.pdf\"><strong>announced<\/strong><\/a>\u00a0it was bringing in Fu Frank Kan, a tech veteran with crypto expertise, as an independent non-executive director. Fu is a co-founder of Math Global Foundation, which develops digital money wallets and software.<\/p>\n<p>China Renaissance&#8217;s imminent dive into the wild world of cryptocurrencies comes as its main investment banking business struggles amid an economic slowdown that is dampening dealmaking in China. Last year, the company&#8217;s revenue, excluding investment gains, dropped about 23% to 777 million yuan ($108 million). The company could return to growth this year on the back of one of Hong Kong&#8217;s strongest IPO and fundraising markets in years, though it has yet to give out any guidance on its recent business.<\/p>\n<p>While the Hong Kong investment banking market has been spotty in recent years, cryptocurrencies have been on a bull run for more than a year now, with bitcoins smashing records to sell for more than $100,000 apiece, up more than 70% in the past year. An asset class &#8230;<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/markets\/asia\/25\/07\/46225526\/china-renaissance-banks-on-cryptocurrencies-to-revive-its-fortunes\" alt=\"China\" renaissance banks on cryptocurrencies to revive its fortunes>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The investment bank plans to spend $100 million on digital assets as it struggles to boost its business in a weak Chinese economy Key Takeaways: China Renaissance plans to invest $100 million in digital assets, more than two years after its former founder and chief rainmaker was detained for bribery The move comes as the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-34834","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/34834","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34834"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/34834\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}