Livio Weng quit as chief operating officer of HashKey Group and as chief executive of HashKey Exchange, the company said in a statement dated December 5, 20241. Weng filed the resignation a few months earlier. He cited personal family reasons. HashKey Group said it had told Hong Kong's securities regulator in advance. It had also named new staff for the exchange role.
Two leadership moves at HashKey Group on the record since 2022
Every move CryptoLately has verified there, by the day it became public
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Date | Event |
|---|---|
| May 13, 2022 | Leahy became COO of the Group's Exchange Business. David Leahy was named Chief Operating Officer of the Group's Exchange Business of HashKey Group |
| Dec. 5, 2024 | Weng left as COO. Livio Weng left as Chief Operating Officer, HashKey Group and Chief Executive Officer, HashKey Exchange of HashKey Group |
11 executive exits on the record in 2024
Executive exits CryptoLately has verified, by year; 2026 through Oct. 2, 2026
- 2024: 11
- 2019, 2020, 2021, 2022, 2023, 2025, 2026
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Item | Value |
|---|---|
| 2019 | 6 |
| 2020 | 1 |
| 2021 | 9 |
| 2022 | 9 |
| 2023 | 8 |
| 2024 | 11 |
| 2025 | 20 |
| 2026 | 27 |
The move
HashKey Group said Weng would keep working through the end of 2024 to help with the handover1. The company said he had helped grow HashKey Exchange into the largest licensed crypto exchange in Hong Kong. Weng described the exit in his own words. “Over the past year, I have been fortunate to witness and participate in the development and growth of HashKey Group and HashKey Exchange. I feel immensely proud to work alongside such an exceptional team to drive industry innovation and development. Due to personal family reasons, I will temporarily bid farewell to HashKey,” Weng said. ChainCatcher's report on December 5, 2024 matched the exit and the regulator notice against HashKey Group's own words2.
Before and after at HashKey Group
Xiao Feng, HashKey Group's chairman and chief executive, praised Weng's run at the exchange. “Livio successfully promoted the construction and development of HashKey Exchange with his excellent professionalism and leadership, laying a solid foundation for HashKey Group's steady growth in the Hong Kong crypto industry,” Xiao said1. HashKey Group called the handover planned. It named a plan it built with Weng, plus the early notice it gave the regulator. The statement thanked Weng for his work. It wished him well in a new stage of life.
What came next
By April 22, 2026, 16 months after HashKey Group announced his exit, Weng was chief executive of Bitfire Group, a Hong Kong-listed firm whose largest shareholder is Li Lin, the entrepreneur who built the Huobi exchange, News.Az reported, citing Reuters3. Bitfire said it would buy the trading systems and investment team of Li's family office, Avenir Group, for $1.6 million. Weng said Bitfire aimed to attract investments equal to more than 10,000 bitcoins within a year, the report said.
Sources
- HashKey Group, "Official Statement Regarding Mr. Weng Xiaoqi's Appointment Arrangement," reported via Bitget News, December 5, 2024, https://www.bitget.com/news/detail/12560604399847
- ChainCatcher, "HashKey Group issued an official statement on Mr. Livio Weng's resignation," ChainCatcher, December 5, 2024, https://www.chaincatcher.com/en/article/2155389
- Aysel Mammadzada, "Inside Chinese tycoon’s new Bitcoin expansion strategy," News.Az (citing Reuters), April 22, 2026, https://news.google.com/rss/articles/CBMif0FVX3lxTE91cXNzbmxHam04SWJmM2FEWFRzZm5pTzRGZUtIMFppaE9mZXdZbFZRSU1MSEpMd2xvWHBTWG40Zkw4OS11bDZUbURtemVlcXhUdHpMd1I2S2ktS25Rdk5aTTBsUnI1c0REYW9xU1VFQnF4MDh5eVp5UjhkU1U0SFU?oc=5