Shangcheng Group will establish a Crypto Assets strategic reserve, prioritizing BTC, ETH, and USDT.

robot
Abstract generation in progress

On August 23, AMTD IDEA Group ("AMTD Group") (NYSE: AMTD; SGX: HKB), a company listed on both the New York Stock Exchange and the Singapore Exchange, and a subsidiary of AMTD Group; AMTD Digital Inc. and The Generation Essentials Group ("TGE") (NYSE: TGE) jointly announced that Crypto Assets will be an important component of the liquidity "strategic reserve" for the three companies. This "strategic reserve" includes bank deposits and other uncollateralized, unpledged, liquid investments, totaling approximately USD 240 million as of June 30, 2025. Specifically, the focus will be on building a portfolio of crypto assets, prioritizing Bitcoin (BTC), Ethereum (ETH), and USDT. Among the three NYSE-listed companies under AMTD Group, TGE will be responsible for expanding and focusing on opportunities and developments related to crypto assets. The name TGE has always carried a genetic significance since its inception, representing not only "The Generation Essentials" but also symbolically referring to token generation event.

BTC-1.76%
ETH2.03%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)