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Shangcheng Group will establish a Crypto Assets strategic reserve, prioritizing BTC, ETH, and USDT.
On August 23, AMTD IDEA Group ("AMTD Group") (NYSE: AMTD; SGX: HKB), a company listed on both the New York Stock Exchange and the Singapore Exchange, and a subsidiary of AMTD Group; AMTD Digital Inc. and The Generation Essentials Group ("TGE") (NYSE: TGE) jointly announced that Crypto Assets will be an important component of the liquidity "strategic reserve" for the three companies. This "strategic reserve" includes bank deposits and other uncollateralized, unpledged, liquid investments, totaling approximately USD 240 million as of June 30, 2025. Specifically, the focus will be on building a portfolio of crypto assets, prioritizing Bitcoin (BTC), Ethereum (ETH), and USDT. Among the three NYSE-listed companies under AMTD Group, TGE will be responsible for expanding and focusing on opportunities and developments related to crypto assets. The name TGE has always carried a genetic significance since its inception, representing not only "The Generation Essentials" but also symbolically referring to token generation event.