Our weekly roundup of news from East Asia curates the industry’s most important developments. China airdrops 180 million digital yuan to celebrate Lunar New Year According to state-owned media Global Times, Chinese cities airdropped a total of 180 million digital yuan (e-CNY) worth $26.6 million to boost consumption during the Lunar New Year celebrations between […]
The milestone comes less than two years after the launch of its mainnet.
Our weekly roundup of news from East Asia curates the industry’s most important developments.
According to state-owned media Global Times, Chinese cities airdropped a total of 180 million digital yuan (e-CNY) worth $26.6 million to boost consumption during the Lunar New Year celebrations between Jan. 22 and Feb. 5. Nearly 200 digital yuan activities were launched during the festival, and commercial institutions also participated in these promotions, covering various sectors such as mobile communications, supermarkets, transportation and tourism.
Data from Meituan, a popular Chinese food delivery platform, showed that its 20 million digital yuan vouchers given out in partnership with the city of Hangzhou government were claimed in less than 10 seconds. China has prioritized the development of its central bank digital currency (CBDC) as part of its digital economy transformation, with numerous local party officials receiving key performance indicator targets regarding their efforts to promote the currency.
China’s state-owned television also hosted a metaverse event for its Lunar New Year program this year. Source: FuXi.In an act of international solidarity, cryptocurrency exchanges operating from several countries in the Asia-Pacific region were quick to react to a series of devastating earthquakes that struck Turkey and Syria on Feb. 6, with death tolls exceeding 12,000 at the time of publication. Singaporean exchange OKX said it would donate 1 million lira to the relief effort, while Binance stated it would airdrop $100 in BNB to Turkish users with addresses listed in the affected region. Cryptocurrency exchange MEXC Global also announced it would donate 1 million lira to help with earthquake relief. Meanwhile, Justin Sun, an adviser at crypto exchange Huobi Global, pledged 2 million lira for relief efforts. Donations are currently not available to Syrian residents due to sanctions.
“While the [proof of address] method has its limitations and inaccuracies, it is the best method we have available for us to locate potentially impacted users. We estimate the total donations will be around $5 million USD (or 94,000,000 TRY),” Binance stated.
“Kraken not only offered investors outsized returns untethered to any economic realities, but also retained the right to pay them no returns at all,” said Gurbir Grewal.
The funding round was led by Foundation Capital, with follow-on investment from CMT digital.
Banks are allegedly being discouraged from offering services to the crypto industry by United States authorities.
“It is time to allow the Debtors’ customers to propose their own plan for the assets that they were defrauded into investing with Celsius,” said a Withhold account holders’ filing.
The former FTX CEO’s bail restrictions will remain in place until Feb. 21 following the judge’s ruling to extend a ban on using certain messaging apps.
Despite tough times for the industry, the blockchain MOBA game reached 200k downloads after just two months.
Join us as we discuss the reasons behind the recent price rally of artificial intelligence tokens.
Join us as we discuss the reasons behind the recent price rally of artificial intelligence tokens.
A state commission recommended that New Hampshire eliminate the gray area in which cryptocurrency companies currently operate.
Nansen CEO Alex Svanevik tells Hashing It Out that he is bullish that artificial intelligence will play a major role in the future of the crypto industry.
Nansen CEO Alex Svanevik tells Hashing It Out that he is bullish that artificial intelligence will play a major role in the future of the crypto industry.
Bitcoin may go "hard lower" if it fails to preserve the area around $22,500, market participants say.
Bitcoin (BTC) stayed lower at the Feb. 9 Wall Street open as a sweep of local lows increased bets of a more serious comedown.
BTC/USD 4-hour candle chart (Bitstamp). Source: TradingViewData from Cointelegraph Markets Pro and TradingView followed BTC/USD as it traded around $22,700 on Bitstamp.
The pair had dipped to $22,378 earlier in the day, marking its lowest levels since Jan. 25 and a reinforcement of $22,400 as an important zone to watch.
“We tapped the swing low at $22,500 followed by a bounce. I would look for the bears to escalate the drop once we lose that low,” popular trader Crypto Tony summarized in part of Twitter coverage.
BTC/USD annotated chart. Source: Crypto Tony/TwitterFellow trader Crypto Chase likewise forecast that Bitcoin was “more likely to go lower if 22.3k is tagged.”
Lewis Cohen headed a team researching Howey-related case law to propose an application that differentiates between primary and secondary transactions.
Open-source software development promotes collaboration, innovation and accessibility in the tech industry.
DekaBank’s partnership with Metaco is not about cryptocurrencies like Bitcoin but the tokenization of bonds and stocks.
LocalBitcoins’ customers have 12 months to withdraw their cryptocurrencies from the LocalBitcoins wallet but are advised to do so immediately.
