The U.S. crypto industry is in turmoil following the high-profile collapse of exchange FTX as well as two banks that serve the sector. Now start-ups may be finding a refuge in an unexpected place: Hong Kong. The process of transferring money to ZA Bank. Credit: ZA One beneficiary of the city’s apparent embrace of crypto — which has emerged despite Beijing’s long-held wariness of the industry — is online firm ZA Bank. Last week it received official permission to operate as a se