Starcoin Group Faces Trading Suspension from HKEX Over Operational Insufficiencies
Starcoin Group, a cryptocurrency data analytics firm, is under scrutiny as the Hong Kong Stock Exchange (HKEX) moves to suspend its trading due to operational deficiencies. The regulator cited a failure to maintain adequate operations and asset value under Listing Rule 13.24, triggering a 68% intraday stock plunge on November 17.
The suspension, effective November 26, compounds challenges for crypto-adjacent firms amid broader market turmoil. Starcoin's board plans to appeal the decision, while its long-term strategy includes a token issuance partnership with Starcoin Foundation announced in October 2025.
This development reflects growing regulatory pressures on crypto-linked entities as traditional financial markets grapple with digital asset volatility. The sharp decline in Starcoin's shares underscores the risks of indirect crypto exposure through publicly traded vehicles during market contractions.
