Caixin: Qian Fenglei's stablecoin investment and financing project is suspected of selling multiple unregulated collective investment plans to the public in Hong Kong

PANews reported on July 19 that according to Caixin.com, Qian Fenglei, who claims to be a "billionaire", combined stablecoin investment and financing projects with secondary market operations, making money in both the stock market and the cryptocurrency circle, and is suspected of selling a number of unregulated collective investment plans to the public in Hong Kong.

It is reported that Qian Fenglei, a wealthy businessman from Zhejiang who was slashed and hospitalized in downtown Hong Kong more than four years ago, returned to the public eye in a high-profile manner in early 2025 with a video of a celebrity shooting a video of a "billionaire" in Central, Hong Kong. Half a year later, people close to Qian recently revealed that Qian Fenglei and several companies under his control, including Hengfeng International, were suspected of selling a number of collective investment plans to the public in Hong Kong that were not approved by the Hong Kong Securities Regulatory Commission. When Alibaba went public in the United States, Qian Fenglei stood next to Jack Ma and was regarded as a "friend of Jack Ma." In the past, because of his many charitable activities, actor Li Yapeng once gave him the title of "Qian Duoduo".