Jupiter Zheng, Research Director, HashKey Capital

Episode 94 of Season 5 of The Scoop was recorded with The Block's Frank Chaparro and HashKey Capital Partner of Liquid Funds & Research Jupiter Zheng.

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This episode of The Scoop, hosted by The Block's Frank Chaparro, features Jupiter Zheng, a partner focused on liquid funds and research at HashKey Capital, one of the most prominent institutional crypto investment platforms based in Hong Kong.

HashKey has positioned itself as a leading gateway for institutional and professional investors seeking regulated exposure to digital assets across Asia, and Zheng's role gives him a close view of both venture-style bets and liquid-market strategies across the region.

The conversation centers on the rapid maturation of the crypto industry across Asia, with particular attention to Hong Kong's efforts to position itself as a digital-asset hub through new licensing regimes for exchanges and asset managers, a marked contrast to the more cautious regulatory posture historically taken in mainland China. Zheng discusses how that regulatory clarity has begun attracting capital, talent, and firms that might otherwise have set up in Singapore or elsewhere, and he outlines the competitive dynamics now playing out between Hong Kong and other Asian financial centers vying to become the region's preferred base for crypto businesses. He also talks about a notable trend of talent migrating from established Asian gaming and technology companies into crypto and web3 firms, drawn by the sector's growth prospects and demand for experienced product and engineering talent.

A significant portion of the discussion covers HashKey Capital's own liquid fund initiative, which the firm had recently launched with plans to raise up to 100 million dollars with a heavy focus on altcoins, and Zheng explains the strategy and market thesis behind that vehicle, including how the firm evaluates opportunities beyond bitcoin and ether.

Throughout the episode, Zheng offers a research-driven perspective on where capital and innovation are flowing within Asia's crypto markets, giving listeners insight into a region that has become increasingly influential in shaping global digital-asset trends even as regulatory approaches in the West continue to evolve, and why he expects Hong Kong's licensing push to keep drawing global firms into the region over the following year.

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