As co-founder and general partner of Race Capital, Edith Yeung has witnessed the evolution of the crypto landscape, especially in Hong Kong, her birthplace. Notably, she was a seed investor in Solana, investing $250,000 when the value of SOL was merely $0.04, and she was also among the first investors in the Lightning Network. Since 2017, she has produced the influential China Internet report, which surveys tech trends in China.
Yeung is set to speak at Consensus Hong Kong, where she will share insights on Hong Kong's development as a crypto hub, China's crypto policy, her thoughts on Solana, and her major prediction for the industry in 2025.
Key Insights on Crypto Regulations in Hong Kong
Yeung expresses optimism about Hong Kong’s regulatory landscape for cryptocurrencies, noting that there are currently seven licensed virtual asset trading platforms under the Securities and Futures Commission (SFC). She underscores that while having a regulatory framework is crucial, establishing liquidity is of equal importance. She likens a trading platform without liquidity to a highway without any traffic.
The Future of Hong Kong in the Crypto Sector
Describing Hong Kong as Asia's equivalent to New York, Yeung points out the financial prowess and abundant talent present in the city, especially for crypto startups looking to recruit skilled professionals. The region’s history, dating back to 1866, solidifies its status as a critical player in the finance and crypto sectors.
Differences Between Asia and the West
While the U.S. holds the largest market for institutional crypto investments, Yeung believes Asia possesses greater potential for growth, citing predictions that many top countries in crypto adoption will be in Asia by 2024.
China's Stance on Crypto
Yeung comments on China's complicated relationship with cryptocurrencies, acknowledging the regulatory hurdles while expressing hope for a more positive outlook, especially with the developments in Hong Kong.
Outlook for Solana and Future Investments
She affirms her commitment to Solana and highlights its ongoing advancements and new interest from traditional financial players, indicating a promising future for the platform.
The interview concludes with Yeung discussing her investment focus on companies that prioritize long-term growth and stability, such as Huma Finance, a leader in PayFi on Solana.
Looking Ahead to 2025
Yeung predicts the establishment of a U.S. Bitcoin Reserve by the end of 2025, a move she believes could significantly impact the market, encouraging other nations to consider similar actions.
