SINOHOPE TECH enters into a quantitative arbitrage service agreement

Zhitong
2024.10.03 10:19

SINOHOPE TECH announced on October 3, 2024, that its wholly-owned subsidiary HotGroup has signed an agreement with Top Value. HotGroup will deposit 8 million Tether (approximately 8 million US dollars) into the account, and Top Value will fully manage its digital asset portfolio for spot and futures arbitrage trading

According to the news from Zhitong Finance and Economics APP, SINOHOPE TECH (01611) announced that on October 3, 2024, HotGroup (an indirect wholly-owned subsidiary of the company) entered into an agreement with Top Value. Under this agreement, HotGroup agreed to deposit a total of 8 million Tether coins (equivalent to USD 8 million and approximately HKD 62.4 million) into the account, with Top Value authorized to manage spot and futures arbitrage trading on behalf of HotGroup.

As per the terms of the agreement, Top Value will manage the digital asset portfolio deposited by HotGroup into the account, conducting spot and futures arbitrage trading of tokens and token derivatives through Top Value's software

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