The Fear and Greed Index in Hong Kong’s crypto market shows signs of shifting after the High Court approved the freezing of HKD 89.3 billion in assets belonging to Tsz Chan and 42 others. Tsz Chan’s assets alone exceed HKD 63.6 billion, including a HKD 3 billion commercial building and a HKD 1 billion villa. Zhou Yun holds over HKD 20 billion, including HKD 15.92 million in cash, euros, and Bitcoin. Altcoins to watch may react to this legal pressure. The court will reconvene on August 3 to decide whether to extend the asset restraint order.

According to ME News, on May 13 (UTC+8), the Hong Kong High Court granted the Department of Justice’s application to impose freezing orders against Chen Zhi and 41 other individuals and entities, freezing assets totaling HK$8.93 billion, including bank deposits, real estate, and stocks. Chen Zhi alone holds assets exceeding HK$6.36 billion, comprising HK$2.2 billion in bank deposits, a full commercial building at 68 Kimberley Road, Tsim Sha Tsui, valued at HK$3 billion, and a villa at Mount Nicholson on Victoria Peak, valued at HK$1 billion. Zhou Yun, who assisted in managing these assets, holds total assets exceeding HK$2 billion, including personal accounts holding HK$15.92 million in Hong Kong dollars, euros, and Bitcoin. Additionally, Hu Xiaowei and Li Tian, associated with the Taizi Group, have assets of approximately HK$400 million and HK$172 million, respectively, frozen by the court. The court will reconvene on August 3 to determine whether to extend the freezing orders. (Source: BlockBeats)Source:Show originalDisclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.