Hong Kong markets watchdog warns of cryptocurrency platform risks

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Hong Kong markets watchdog warns of cryptocurrency platform risks
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It comes after the founder of the failed crypto exchange FTX was arrested and charged with fraud.

Meanwhile, rival exchange Binance has seen withdrawals of more than $1bn in the last 24 hours after it said it would "temporarily paused" withdrawals of the USDC stablecoin.

However, Binance's chief executive Changpeng Zhao, who is widely known as CZ, put the figure at around $1.14bn. Cryptocurrencies are not currencies in the traditional sense, but are stored online and act more like investment vehicles or securities - often with a high degree of volatility.

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