Hong Kong licensed virtual asset trading platform HashKey Exchange CEO and HashKey Group COO Weng Xiaoqi has reportedly resigned, and the official confirmed this news in a media interview. Affected by this news, HashKey Exchange platform coin HSK has fallen by about 9% in the past 24 hours.

Regarding the resignation of HashKey Group's Chief Operating Officer Weng Xiaoqi, KOL Phyrex posted on X stating that Hashkey employees can receive token (HSK) allowances. Under normal circumstances, Hashkey employees' token settlement is "T 3 months", but if an employee resigns, they will immediately receive all tokens. And the resignation of Weng Xiaoqi this time may lead to a batch of resignations from the Hashkey Global team's senior management, which will not only cause a large amount of HSK supply belonging to the senior management to flow into the secondary market, but also trigger large-scale selling by early large investors.

Regarding this, HashKey Group has officially announced that, HSK The total supply is 1 billion tokens, of which 300 million tokens are allocated to team incentives. However, all team token holders, including former employees, are subject to strict token management policies that govern the issuance, holding, and sale of tokens, following a pre-defined lock up schedule (a lock up period of at least 3 months after listing and a linear release period of 36 months thereafter). In addition, HashKey emphasized that resigning will not trigger early or complete unlocking of tokens.