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Hong Kong’s Cyberport, a government-backed business hub focused on Web3, blockchain and artificial intelligence, is ramping up its investment in emerging technologies to position the city as a global tech leader.
On Feb. 27, Cyberport hosted the “AI Safety, Trust, and Responsibility” forum with international AI academic institutions to discuss AI governance, safety and responsible innovation initiatives.
The Cyberport hub hosts over 270 blockchain technology-related enterprises and more than 350 startups specializing in AI and big data research and development.
Hong Kong Cyberport hosts AI summit. Source: Cyberport
A day prior, on Feb. 26, the Hong Kong government’s 2025–26 budget paid special attention to emerging technologies, aiming to “seize the critical opportunities presented by technological reform and artificial intelligence development.”
Hong Kong invests heavily in Web3 and AI via the Cyberport hub
The Chinese Special Administrative Region allocated 1 billion Hong Kong dollars ($125.5 million) to establish the Hong Kong AI Research and Development Institute, Financial Secretary Paul Chan Mo-po announced during the Hing Kong budget speech.
Related: Hong Kong regulator unveils ‘ASPIRe’ roadmap to become global crypto hub
The institute is dedicated to “facilitating upstream R&D, transforming midstream and downstream R&D outcomes, and expanding application scenarios.”
To fuel the Web3, blockchain and AI innovation, Cyberport’s Artificial Intelligence Supercomputing Centre (AISC), which launched on Dec. 9, 2024, will grow to a computing power of 3,000 petaFLOPS and will be able to process 3,000 quadrillion floating-point operations per second.
Streamlining AI research and talent development
Additionally, one of the co-organizers of the AI forum, the World Digital Technology Academy (WDTA), also announced the establishment of the “WDTA Asia-Pacific Institute (preparatory)” at Cyberport.
Yale Li, the executive chairman of WDTA, highlighted the institute’s three core initiatives. These include building a “safety-native” technological framework, establishing a “human-oriented” value system and commitment to “responsible innovation.”
Cyberport has signed numerous Memorandums of Understanding (MoUs) with universities and institutions to help students with internship and employment opportunities. Lastly, the Hong Kong government allocated $3 billion Hong Kong dollars ($385.6 million) to Cyberport for the launch of a three-year AI Subsidy Scheme to support the innovations.
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“Relieved is an understatement”.
That’s how one senior government figure described their mood as the prime minister, his foreign secretary and the Number 10 team left the White House having cemented Sir Keir and President Trump’s personal relationship; secured a commitment to NATO; the prospect of a trade deal that could spare the UK from tariffs and the presidential nod on the Chagos deal.
That gives you a sense of just how much was at stake going into talks with a president that has heaped criticism on many old allies in recent weeks.
That the Starmer-Trump meeting went as well as it did is proof, say those around the prime minister, of how much legwork and meticulous planning has gone into pulling it off.
The work began in opposition with Keir Starmer calling President Trump after the assassination attempt, while his foreign secretary courted vice president JD Vance.
There was the dinner in Trump Tower in September and, ever since then a prime minister who has swerved any personal or public criticism of the president.
When the visit was confirmed, the Number 10 team war-gamed all the possibilities with the prime minister, I’m told, going through all the detail and planning with aides to “make the most of the visit”.
They came out feeling that all the pieces fell into place with wins for the UK on trade and a “special” Keir Starmer coming through talks with President Trump that you could have a positive relationship with President Trump.
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‘I have a warm spot for the UK’
There were a few factors that helped the prime minister.
The first was the president’s genuine love for the UK and Sir Keir’s team’s understanding that President Trump is driven by personal relationships.
Get that right and much of the rest falls into place, say those who have seen him up close.
Sir Keir Starmer, the ponderous lawyer, has I’m told also built a genuinely warm relationship with President Trump: “They genuinely like each other and find each other easy to speak to,” is how one observer put it.
Then came the deployment of soft power.
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A panel of Sky reporters dissect the trans-Atlantic meeting.
I was in the Oval Office when the prime minister procured a personal letter from his jacket pocket from the King inviting President Trump for a second state visit.
Mr Trump was genuinely delighted as he read the letter, marvelled at King Charles’s signature and pointed out that this was the first time in history that anyone had been afforded such an “incredible” honour.
The prime minister also brought something to the table for a president that loves a deal.
The decision to lift defence spending to 2.5% of GDP by 2027 went down extremely well on Capitol Hill with Republicans and signalled to President Trump that the UK was an ally that had heeded his message on defence spending.
There were wins too.
Keir Starmer’s deal to transfer sovereignty over the Chagos Islands, where the US has a critical military base, to Mauritius, was backed by President Trump, a hugely welcome moment for a PM who has been heavily criticised about the deal back home.
And when I asked the president about his sharp remarks on EU tariffs – he said the union had been constructed to “screw” the US on trade – he told me he’d been having problems with the EU bit was in a “very different place” with the UK.
“I have a great warm spot for your country,” President Trump told me before the talks.
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An ‘intense session’ but ‘pretty good outing’
Afterwards, he told reporters at the press conference in the East Wing of the White House that there was a “very good chance” of a trade deal in which tariffs were not necessary.
Of course, there is a long way to go, but against a backdrop of a president threatening tariffs on a number of countries, that was a big win for the PM.
But if going out of this short visit was a story of trade, going into it was a focus on security guarantees for Ukraine.
Sir Keir said securing a backstop for European peacekeepers in Ukraine is the only way to contain President Putin.
Read more:
Starmer contradicts Vance over free speech claim
Read some of Trump’s letter from King Charles
Top five moments from Trump-Starmer press conference
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‘What a beautiful accent’
On this, President Trump was rather more noncommittal, stressing that the priority was to do the deal first and that the mineral agreement he is poised to sign with President Zelenskyy on Friday should be deterrent enough.
On Sunday, the PM will host 18 leaders in London to discuss what to do next.
Ultimately, Europe will need to know that the US has its back on Ukraine – the PM didn’t come away from the Trump meeting assured of that yet.
Although, the message for more NATO investment was heard loud and clear again, with an expectation from the British camp that more commitment on defence spending from Europe will be required by President Trump as part of any backstop deal.
What is clear coming out of this meeting is that Sir Keir and the UK could genuinely become the bridge between the US and Europe as the deteriorating relationship between Brussels and Washington offers Sir Keir the opportunity to take the centre stage.
After a bumpy start to his premiership, the prime minister has found in his endeavour on Ukraine, a means to show leadership – and perhaps a way to win doubtful voters back around.
He has managed to find a way with President Trump. Sunday’s summit is his next test as he brings together President Zelenskyy with fellow European leaders to try to hammer out a plan to support any peace deal.
Starmer was an unlikely war footing leader.
But he is finding a way.
Arizona’s Senate has advanced a Bitcoin reserve bill, bringing it to second place behind Utah in a race between US states to get a crypto investment bill approved.
The Arizona Senate passed the Strategic Digital Assets Reserve bill (SB 1373) on its third reading on Feb. 27 with a vote of 17 for and 12 against. It now advances to the state’s House.
The bill, sponsored by Republican Senator Mark Finchem, would create a “Digital Assets Strategic Reserve Fund” administered by the state treasurer that would consist of money appropriated by the legislature and crypto seized by the state.
The treasurer can’t invest more than 10% of the total fund deposits in any fiscal year but may loan digital assets from the fund to generate returns if it doesn’t increase financial risks to the state.
“[Whether] you like it or not, legislation will happen at the federal level in this order: Stablecoins, Market Structure, and Strategic Bitcoin Reserve,” Satoshi Action Fund founder Dennis Porter said in a Feb. 28 X post.
Arizona moves up in the strategic reserve race. Source: Bitcoin Laws
Another Bitcoin reserve bill is also making its way through Arizona’s Senate. The Strategic Bitcoin Reserve Act (SB 1025), co-sponsored by Republican Senator Wendy Rogers and Representative Jeff Weninger, also passed the Senate’s third reading on Feb. 27 with a vote of 17 for and 11 against.
The Rogers and Weninger-sponsored bill focuses on investment authority for public funds to invest in crypto assets, while the Finchem-sponsored bill establishes a specialized fund for seized digital assets and appropriated funds.
Related: Michigan becomes latest state to propose crypto reserve bill
There are currently 18 US states that have crypto reserve bills pending Senate votes, while two — Arizona and Utah — are in the final stages of the approval process.
State crypto investment bills have been rejected in Montana, Wyoming, North Dakota, South Dakota and Pennsylvania.
The status of crypto reserve-related bills. Source: Bitcoin Reserve Monitor
Bitcoin reserve proposals are gaining support across the US thanks to President Donald Trump’s pro-crypto policies.
Bitcoin, meanwhile, has tanked 17% over the past seven days as it struggles to keep gains due to economic uncertainty over Trump’s sweeping incoming tariffs.
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