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Associated Press
2 days ago
- Business
- Associated Press
ForthTech Gathers Industry Leaders to Explore the Future of Digital Assets and Traditional Finance
HongKong, China, July 13, 2025 -- The forum 'Digital Leap: Convergence and Opportunities Between Digital Assets and Traditional Finance', co-hosted by CEIBS Alumni Finance & Investment Association, ForthTech, and OnePort, was successfully held at JW Marriott Hong Kong. The event brought together key players from digital asset management, fintech, blockchain infrastructure, and compliance services to explore institutional adoption, global asset allocation, and emerging regulatory paradigms. Opening Remarks Jun Yang, Vice President of the CEIBS Alumni Finance & Investment Association and Chairman of Centurial Insurance Asset Management, delivered the opening remarks on behalf of the organizers. He emphasized that digital assets are reshaping global capital markets and that Hong Kong, as a vital gateway between East and West, is uniquely positioned to lead in this transformation. Keynotes: Global Allocation and Infrastructure Innovation ForthTech's leadership presented two keynote speeches focused on digital asset allocation strategies and infrastructure deployment. CIO James Bernesi outlined the restructuring of the global financial landscape, noting that digital assets are transitioning from speculative fringe to core institutional portfolios, enhancing both hedging capabilities and return potential. Co-founder Darren Chan reviewed the evolution of quantitative investment in digital assets and shared ForthTech's experience in building AI-driven infrastructure. He highlighted that integrating traditional financial standards with agile and building digital asset-native systems is critical to maintaining a competitive edge in today's market. Panel I: Digital Assets in Portfolio Strategy Amid Uncertainty The first panel, moderated by Alex Zhang, Co-Chair of the Hong Kong Blockchain Association, brought together a distinguished group of speakers including Gao Nan, Founder of Xuanwu Family Office; Ashley Li, Rotating Head of Fosun Asset Management; Cynthia Wu, COO of Matrixport; Bing Zhang, Managing Director at Avenir Group; and Rui Wang, Partner at IOBC Capital. The discussion centered on how family offices and asset managers are navigating digital asset allocation. Panelists expressed strong conviction in digital assets' long-term role in wealth management and emphasized the need for more productized, client-friendly solutions. Panel II: Practical Compliance in a Global Regulatory Environment The second panel, moderated by Vincent Wang, COO of ForthTech, brought together leading compliance and infrastructure experts, including Eugene Cheung, CCO of OSL; Katie Liu, Director of Business Development at Copper; Davy Kong, Managing Director at Ascent; and Ronald Poon, Executive Director at Amina Bank. Panelists discussed the respective roles of exchanges, custodians, fund administrators, and banks within the digital asset ecosystem, and shared how their institutions are addressing security, compliance, and transparency. They also examined the evolution of regulatory frameworks, highlighting both current and emerging challenges and opportunities. Finally the session concluded with practical insights into evaluating and selecting high-quality service providers—underscoring shared confidence in the sustainable, compliance-driven growth of the industry. Participants broadly acknowledged the strategic value of digital assets in institutional portfolios and proposed actionable paths for integration. There was strong consensus on the sector's regulatory progress and long-term growth potential. ForthTech remains committed to fostering a compliant and resilient digital finance ecosystem in close collaboration with global partners. About ForthTech Founded in 2017, ForthTech is a pioneering digital asset quantitative trading and investment management firm. Leveraging artificial intelligence, machine learning, and deep learning, the company has built a systematic investment framework and developed proprietary infrastructure, including data systems, trading execution platforms, risk management engines, and strategy development platforms. ForthTech holds multiple regulatory licenses worldwide and has provided institutional-grade digital asset investment and trading solutions to a broad range of high-net-worth individuals and institutional investors. By empowering traditional financial institutions to enter the Web3 space, ForthTech is at the forefront of capturing long-term growth opportunities in the digital asset market. Contact Info: Name: Nina Lam Email: Send Email Organization: ForthTech Website: Disclaimer: This press release is for informational purposes only. Information verification has been done to the best of our ability. Still, due to the speculative nature of the blockchain (cryptocurrency, NFT, mining, etc.) sector as a whole, complete accuracy cannot always be guaranteed. You are advised to conduct your own research and exercise caution. Investments in these fields are inherently risky and should be approached with due diligence. Release ID: 89164593 Should any errors, concerns, or inconsistencies arise from the content provided in this press release that require attention or if a press release needs to be taken down, we kindly request that you immediately contact us at [email protected] (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our efficient team will be at your disposal for timely assistance within 8 hours – taking necessary measures to rectify identified issues or providing guidance on the removal process. We prioritize delivering accurate and reliable information.
Associated Press
03-06-2025
- Business
- Associated Press
Hawaii housing czar demands church return housing for homeless elderly
The state's Office on Homelessness and Housing Solutions is demanding that a Korean church either return or pay $20,000 apiece to buy20 state-owned tiny housing units installed in their Honolulu parking lot. The demands were outlined in a letter sent to the pastor of Hawaii Cedar Church by the governor's homelessness coordinator, Jun Yang. In it, Yang said the Kalihi church was not authorized to use the units and must immediately stop. The units are occupied by previously unhoused kūpuna and families. Installation of the units was completed in August during the tenure of Yang's predecessor, John Mizuno, using donated contracting services. Gov. Josh Green has made tiny homes a cornerstone of the state response to endemic homelessness and he set a target to build 30 kauhale villages as part of his pledge to cut the state's homeless population in half by 2026. At the opening of another kauhale in December, Green talked about the need for 'continued partnerships as we work together to make lasting progress.' The Cedar Church kauhale was specifically named in a presentation Green and Honolulu Mayor Rick Blangiardi gave in May last year about Hawaiʻi's response to homelessness as one of 17 projects then on track to open. But Civil Beat has confirmed the state and church had no written agreement regarding the installation of the 20 units, and that appears to be where the church project has run afoul of Yang's office. Yang declined a request for an interview Friday and in an emailed statement said the letter was sent in anticipation of a management and performance audit of the state's Kauhale Initiative required under a bill approved by legislators this session and sent to the governor for approval. 'As such, we are taking steps to ensure that state property is safeguarded, state contracting standards are met, and that tiny homes like those on the grounds of Cedar Church in Kalihi, are used in accordance with state standards for kauhale services,' he wrote. Yang's letter makes no mention of contracting standards, kauhale services or safeguarding state property in the letter — and only outlines conditions for the return or purchase of the units. The correspondence took the church pastor the Rev. Duk Whan Kim by surprise, according to the church's attorney, Ernie Martin. Attempts to reach Kim directly were unsuccessful. Martin said Kim had worked closely with the state homelessness office on the project under Mizuno's leadership and believed there was a mutual understanding about the units and their intended use on church property. Martin said he has contacted Yang's office and is working to resolve the conflict. The letter gave the church a May 27 deadline to respond or the state would 'immediately arrange to remove the property,' but as of Monday the units were still in place and occupied. Mizuno — who suddenly stepped down as the state's homelessness coordinator in February and now works as a special advisor to the governor — did not respond to voicemail or texts requesting comment. Mizuno's deputy director, Eric Ford, declined to be interviewed when reached by phone. Rep. Lisa Marten, who chairs the House Committee on Human Services and Homelessness, said Monday she hopes the conflict can be resolved because she is impressed by the church's commitment to helping homeless and vulnerable people after visiting the site, 'but they could do more.' Given the state's move to more formal contracts with its kauhale partners, Marten said she wasn't surprised the homelessness office was doing its due diligence. The state has no data on residents and no say in who gets to access the services at the church, she said. But the additional documentation could eventually enable the congregation to access more state funding support — including money already budgeted — that could enable them to provide additional services, including medical. Return Units Or Buy Them, State Says The 20 units on the church property off Kamehameha IV Road were purchased by the state from HomeAid Hawaiʻi as part of its production of tiny homes for the Kauhale Initiative, CEO Kimo Carvalho confirmed. Competitive bidding for the construction of the units was waived under an emergency housing proclamation issued by Green in September 2023, and HomeAid has been the sole-source supplier. HomeAid Hawaiʻi produced 1,079 of those units in 2024, according to its website. 'The former homeless coordinator took 20 of those units to Cedar Church in July, and that's the extent of HomeAid's involvement,' Carvalho told Civil Beat. But the nonprofit was not the sole-source contractor for installing all the kauhale sites, Carvalho said, adding that the grading of the church site and utility connections were completed using donated labor and materials from another company, Prometheus Construction. Prometheus VP Cliff Tillotson declined to be interviewed for this story. Ford, Mizuno's former deputy, now works for the company. Hawaii Cedar Church is a Korean congregation and sits on a 30,000-square-foot parcel — including the parking lot where the kauhale are located — purchased for $1.34 million in December 2011, county property records show. The church hosts a food pantry, and has a history of providing food relief and emergency housing, previous reporting shows. The church has also operated the Waiʻanae Cedar Farm, a 4-acre property where it placed small sheds to provide low-cost emergency housing, Hawaii News Now reported in 2021. Mizuno and Kim — the pastor at Cedar Church — have a connection dating back more than a decade when Mizuno was state representative for Kalihi, before he resigned in December 2023 after Green tapped him to become the state's homelessness coordinator. Mizuno replaced James Koshiba who had been in the state role a year and had 'set the stage' for the ambitious project, Green said. A dozen kauhale opened under Mizuno's watch, and discussions for Cedar Church began around April of 2024. Speaking to the Kalihi-Pālama Neighborhood Board in July, Mizuno said the Cedar Church project was 'the first Kūpuna Kauhale for homeless kūpuna over 60 years old and those that may be coming out of the ER, medical respite patients, or medically discharged.' In August, Mizuno posted a video walkthrough of the completed kauhale to Facebook, showing installed living spaces, amenities including shower units and laundry, and individual garden beds. Six months later, Mizuno was publicly criticizing the costs of running some of the state-funded kauhale and he stepped down from the role in February, taking on a special adviser position in the same office. He was replaced by Yang, former homeless coordinator for the state Department of Transportation. The church appears to have its fingers caught in the door now that the new state homelessness czar wants to tidy up the books. A Star-Advertiser report on July 17, 2024, says HomeAid Hawaiʻi's 100-square-foot homes cost $16,000 to produce. Carvalho is featured in the photo story, which shows housing units heading to Hawaii Cedar Church, according to the caption. Yang's letter, however, asks the church to pay $20,000 per unit if they move ahead with a plan to buy them. 'If the HCC wished to purchase the units, payment shall be made to the state within 45 days of the date of this letter.' As of Monday, it's unclear whether the church is considering that option. The cost of the housing units themselves, concerns about kauhale running costs and questions about the absence of receipts for the estimated $37 million in HomeAid Hawaiʻi contracts underpinned conference committee discussions on housing this legislative session. Lawmakers ultimately voted to expand Green's Kauhale Initiative, providing a $50 million funding base through 2026 and 2027. The funding package also included provisions for quarterly reports on expenditures from Yang's department, and the performance and management audit of the Kauhale Initiative — the one outlined in the state's May 16 letter to Cedar Church. ___ This story was originally published by Honolulu Civil Beat and distributed through a partnership with The Associated Press.
