9GAG transforms Howkingtech into MemeStrategy for expansion into cryptocurrency and AI
Meme-sharing social network crypto initiative
Hong Kong-based online platform 9GAG has acquired the publicly listed company Howkingtech International, with plans to rename it MemeStrategy to facilitate investments in cryptocurrencies and explore opportunities in artificial intelligence (AI).
According to regulatory filings with the Hong Kong Exchanges and Clearing Limited, the acquisition involves a maximum cash consideration of HK$79,649,599 (approximately $10.2 million), contingent upon the exercise of all share options before the offer's closure.
Meme-sharing social network's crypto initiative
Reports indicate that Ray Chan, co-founder of 9GAG, has assumed leadership of Howkingtech International as part of a strategy to expand into AI, cryptocurrencies, and Web3 sectors.dimsumdaily.hk
"Now is the optimal time to leverage the transparent operational model of public companies to enhance market awareness and trust in Web3, while creating long-term value for shareholders. We aim to bridge the gap between the new economy and traditional finance, supporting Hong Kong's development as an international virtual asset hub," stated Ray Chan.
The company plans to rebrand Howkingtech as MemeStrategy, drawing inspiration from Michael Saylor's approach. A press release on PR Newswire mentions that MemeStrategy will incorporate Bitcoin and other high-potential virtual assets into its asset allocation to achieve long-term value growth.
As we wrote, China may be reconsidering its hardline stance on cryptocurrency, according to Chao Deng, CEO of HashKey Capital, a leading crypto-focused asset manager and ETF issuer based in Hong Kong.
