Attendees are seen at the initial public offering (IPO) launch of licensed cryptocurrency exchange HashKey at the Hong Kong Stock Exchange on December 17, 2025. Hong Kong's biggest licensed cryptocurrency exchange began trading on December 17 as the city pushes to become a global hub for digital units despite Beijing's tough stance on the technology. (Photo by Tommy WANG / AFP via Getty Images)

CEO of HashKey Group Xiao Feng (C) attends the company's initial public offering (IPO) launch at the Hong Kong Stock Exchange on December 17, 2025. Hong Kong's biggest licensed cryptocurrency exchange began trading on December 17 as the city pushes to become a global hub for digital units despite Beijing's tough stance on the technology. (Photo by Tommy WANG / AFP via Getty Images)

Attendees are seen at the initial public offering (IPO) launch of licensed cryptocurrency exchange HashKey at the Hong Kong Stock Exchange on December 17, 2025. Hong Kong's biggest licensed cryptocurrency exchange began trading on December 17 as the city pushes to become a global hub for digital units despite Beijing's tough stance on the technology. (Photo by Tommy WANG / AFP via Getty Images)

TOPSHOT - A researcher cuts a slice from an ice core sample taken from a glacier in the Pamir mountain range in Tajikistan, at the Hokkaido University Institute of Low Temperature Science, in Sapporo, in northern Japan's Hokkaido prefecture on December 9, 2025. Dressed in an orange puffer jacket, Japanese glacier scientist Yoshinori Iizuka stepped into a storage freezer chilled to minus 50 Celcius to retrieve an ice core. (Photo by GREG BAKER / AFP via Getty Images) / TO GO WITH: Japan-Tajikistan-climate-science-environment-research, FOCUS by Hiroshi HIYAMA

Slices of ice from an ice core sample taken from a glacier in the Pamir mountain range in Tajikistan are seen in a bottle at the Hokkaido University Institute of Low Temperature Science, in Sapporo, in northern Japan's Hokkaido prefecture on December 9, 2025. Dressed in an orange puffer jacket, Japanese glacier scientist Yoshinori Iizuka stepped into a storage freezer chilled to minus 50 Celcius to retrieve an ice core. (Photo by GREG BAKER / AFP via Getty Images) / TO GO WITH: Japan-Tajikistan-climate-science-environment-research, FOCUS by Hiroshi HIYAMA

A researcher cuts a slice from an ice core sample taken from a glacier in the Pamir mountain range in Tajikistan, at the Hokkaido University Institute of Low Temperature Science, in Sapporo, in northern Japan's Hokkaido prefecture on December 9, 2025. Dressed in an orange puffer jacket, Japanese glacier scientist Yoshinori Iizuka stepped into a storage freezer chilled to minus 50 Celcius to retrieve an ice core. (Photo by GREG BAKER / AFP via Getty Images) / TO GO WITH: Japan-Tajikistan-climate-science-environment-research, FOCUS by Hiroshi HIYAMA

An ice core sample taken from a glacier in the Pamir mountain range in Tajikistan is seen at the Hokkaido University Institute of Low Temperature Science, in Sapporo, in northern Japan's Hokkaido prefecture on December 9, 2025. Dressed in an orange puffer jacket, Japanese glacier scientist Yoshinori Iizuka stepped into a storage freezer chilled to minus 50 Celcius to retrieve an ice core. (Photo by GREG BAKER / AFP via Getty Images) / TO GO WITH: Japan-Tajikistan-climate-science-environment-research, FOCUS by Hiroshi HIYAMA

Professor Yoshinori Iizuka holds an ice core sample taken from a glacier in the Pamir mountain range in Tajikistan, in a -50 degree C storage room at the Hokkaido University Institute of Low Temperature Science, in Sapporo, in northern Japan's Hokkaido prefecture on December 9, 2025. Dressed in an orange puffer jacket, Japanese glacier scientist Yoshinori Iizuka stepped into a storage freezer chilled to minus 50 Celcius to retrieve an ice core. (Photo by GREG BAKER / AFP via Getty Images) / TO GO WITH: Japan-Tajikistan-climate-science-environment-research, FOCUS by Hiroshi HIYAMA