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Cryptocurrencies

Hong Kong crypto group unable to withdraw $18m in assets from FTX

New Huo Technology is latest company impacted by U.S. player's demise

Hong Kong-listed New Huo Technology said it is trying to regain access to some $18 million in digital assets after the collapse of U.S. cryptocurrency exchange FTX.    © Getty Images

HONG KONG -- Hong Kong-based digital asset management company New Huo Technology is unable to withdraw some $18 million worth of cryptocurrencies from collapsed exchange FTX, in the latest fallout from the world's biggest crypto bankruptcy.

New Huo Technology said in a filing on Monday to the Hong Kong stock exchange that about $13.2 million of the total are digital assets that belong to clients, while $4.9 million are assets belonging to subsidiary Hbit.

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