HashKey Becomes Crypto Unicorn After Closing $100M Raise

HashKey Group, which operates the Hong Kong-based crypto exchange, has “nearly” met its $100 million fundraising target, the firm said on Tuesday. HashKey announced the fundraising round in August, shortly after it won a license from Hong Kong’s security regulator to offer retail crypto trading. The firm did not disclose the investors in the round and now has a valuation of $1.2 billion post-raise, giving it a “unicorn” status. Unicorn is a term used to describe private companies with a valuation of $1 billion or more. In October, CoinDesk reported that crypto fundraising in the third quarter of 2023 reached a three-year low of $2.1 billion across 297 deals.

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