Chinese regulators fine Futu $273M for unlicensed trading services to mainland residents. Founder Leaf Li accelerates global expansion away from the app.
Billionaire Leaf Li, founder of Futu, was caught off-guard when Chinese regulators slapped a $273 million penalty on his company for operating unlicensed trading services for mainland residents as part of a wider crackdown. In response, Li is accelerating a global push away from the company's main app.
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