- Apple shares
- Disney stock (valued at $4.5 billion at the time)
- Multiple properties …all into an irrevocable living trust. This was a clever move in terms of timing, tax avoidance, and control. He smartly used U.S. tax loopholes: tax-free spousal inheritance. According to U.S. law, anyone can transfer unlimited wealth to their spouse tax-free upon death. This careful planning laid a solid foundation for wealth succession, allowing the family fortune to be smoothly passed down as intended.
August 31, 2025, 8:01 AM
Zhao Changpeng delivered a lecture at the University of Hong Kong, covering stablecoins, RWA, decentralized exchanges, crypto asset treasuries (DAT), AI+Web3 integration, and the future of Web3 in Hong Kong. Key takeaways:
Stablecoins: A tool for USD globalization; Hong Kong’s potential and challenges. Stablecoins (USDT, USDC) are a core profit segment of crypto finance, Binance handles 70% of global volume. Stablecoins evolved from “safe haven” to global USD tool, market cap over $100B, 90% of users abroad. Hong Kong can leverage HKD stablecoins for RMB internationalization but must resolve FX control and liquidity issues.
RWA Challenges & Financial Asset Potential: Non-financial RWA (e.g., HK real estate) tokenization is limited by low liquidity and trading demand, prone to volatility/manipulation. US tokenized securities are immature. Stablecoins remain the only working RWA model, backed by US Treasury. Tokenizing US stocks could strengthen global financial position. HK must seize policy windows to avoid falling behind.
Decentralized Exchanges: Liquidity is key. A world-class exchange in HK needs to address high costs (~$1B investment) and low liquidity. Suggest inviting global exchanges (e.g., Binance) to operate compliantly in HK, tapping global liquidity, lowering costs, and increasing influence.
AI + Web3: AI agents will drive high-frequency micro-payments (~$0.01 per transaction). Traditional finance cannot satisfy this; blockchain is the solution. HK could use AI payment interfaces and local stablecoins as a global AI+Web3 testbed.
Education + Web3: Blockchain can solve uneven educational resources via DAOs, providing access for 120M out-of-school students worldwide. Revolutionizes knowledge distribution.
HK Web3 Future: Balance compliance (stablecoin FX control, asset rights) with innovation (open liquidity, DAT policies). HK has launched early stablecoin draft legislation, actively engaging industry. A golden period for exploring Web3 opportunities; HK could become a key node for global wealth in Web3.
August 31, 2025, 8:29 AM
August 31, 2025, 12:52 PM
- Focus on text content
- Plain text, easy to read/write, version control friendly
- Syntax is simple
- Unlike Word editors, where formatting is applied via buttons and changes are immediately visible, Markdown requires embedding syntax in the text to indicate formatting differences