News
The bond was auctioned off to holders of the digital yuan, a central bank digital currency (CBDC) developed by the Chinese government.
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China Crypto News
China, a global economic powerhouse with the world’s largest population, drives significant global trade marked by rapid industrialization and economic growth. China once served as a center for crypto trading and had a vibrant ecosystem of exchanges. However, in 2017, the Chinese government outlawed domestic cryptocurrency exchanges and initial coin offerings (ICOs) because of concerns about financial stability.
China intensified its regulations in 2021 by focusing on crypto mining — once a massive industry in the nation — citing concerns about speculative risk, financial stability and energy usage. Despite its hardline stance on cryptocurrencies, China is actively pursuing blockchain technology adoption across various sectors, including finance, supply chain and urban planning.
Blockchain parks and incubators have been established in various provinces and towns to aid new businesses and established firms specializing in blockchain technology. With its Digital Currency Electronic Payment system — a state-backed digital currency managed by the People’s Bank of China — China is at the forefront of central bank digital currency development. China wants to internationalize its currency and lessen reliance on the United States dollar in international trade and finance, and its CBDC, the digital yuan, is a component of that effort.
- Market Analysis
Ether price surged to $3,000 on Tuesday, but lagged behind the US stock market rally as muted demand for ETH derivatives and growth in competing blockchains kept traders skeptical.
3552 - Market Analysis
Bitcoin’s decline to $84,000 was driven by US dollar stablecoin concerns, a weakening global macroeconomic outlook and other factors beyond Japan’s bond market stress.
6223 - News
HKEX published a post-hearing information pack for HashKey Holdings, pushing Hong Kong’s top crypto exchange closer to a high-profile IPO.
2664 - News
The People’s Bank of China reasserted the country’s crypto ban, claiming trading had reemerged and vowed to crack down on stablecoins.
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The small nation’s Ether staking adds to its expanding blockchain activity as it remains one of the few governments holding Bitcoin.
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US authorities are investigating Chinese Bitcoin mining hardware giant Bitmain over potential national security risks tied to alleged remote capabilities, according to Bloomberg.
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Alibaba’s global e-commerce arm is reportedly developing a bank-backed deposit token for cross-border payments as Beijing tightens its crackdown on stablecoins.
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After announcing the “largest forfeiture action” in the history of the DOJ, the US faces questions about how it accessed the over 127,000 Bitcoin stolen from the LuBian mining pool.
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The Chinese budget AI model QWEN3 was the only one to generate positive returns, while its more heavily funded competitors returned significant losses.
4927 - News
The FTX Recovery Trust dropped a motion to limit payouts to creditors in countries including China, which holds about $380 million in claims.
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HyperUnit, the whale that made $200 million from the US-China tariff crash last month, is now betting on a rebound in Bitcoin and Ether, opening $55 million in long positions.
9167 - News
Trump again denied ties to Binance co-founder CZ amid reports that the exchange helped facilitate a $2 billion stablecoin deal linked to his World Liberty Financial platform.
3482 - News
Crypto prices remain depressed due to macroeconomic and geopolitical uncertainty, despite interest rate cuts and positive trade news.
5054 - Market Analysis
Bitcoin continued to drop to new lows on Thursday despite every bullish outcome that traders had forecast being confirmed.
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