Hong Kong’s BC Technology Group, the parent company of crypto trading platform OSL, has denied reports that it is considering selling the crypto platform for HK$1 billion (US$ 128 million).
According to the Bloomberg report, OSL “may decide to sell parts of OSL rather than the whole business” but the discussions were still ongoing.
The report also highlighted that OSL platform’s trading volume dropped by 50% in the past year while the company’s overall losses narrowed in the first half of 2023.
The company released a statement on 17 October clarifying that the contents and statements in the Bloomberg article are “factually inaccurate and highly misleading.”
“The board of directors of the company (the board) noted the unusual movement in the price and trading volume of the shares of the company today.
Having made such enquiry with respect to the company as is reasonable in the circumstances, the board confirms that it is not aware of any reasons for such unusual movement.”
OSL and HashKey Exchange are the only two virtual asset trading platform (VATP) operators in Hong Kong that are licensed by the the Securities and Futures Commission (SFC).
