China Financial News
18.06 / 17:47
markets
Binance
SEC
Tether
Asia
Bitcoin
week
Is the cryptocurrency market about to break its 10-week losing streak?
The cryptocurrency total market capitalization fell to $1.02 trillion on June 15, its lowest level in three months. But while the derivatives market's resilience and end-of-week price gains amid uncertainty in stablecoins' reserves provides hope for bulls, it might be too soon to celebrate.
18.06 / 07:41
Lowe's
MET
FIVE
Cooper
SPY
foreign
Blinken meets Chinese Foreign Minister Qin Gang on high-stakes diplomatic trip to Beijing
U.S. Secretary of State Antony Blinken on Sunday met with Chinese Foreign Minister Qin Gang and top diplomat Wang Yi in Beijing on a high-stakes diplomatic mission to cool U.S.-China tensions that have overshadowed geopolitics in recent months.
17.06 / 09:17
business
Blockchain
Tether
controversy
compliance
Tether responds to account deactivation controversy, raises compliance checks
Tether, the company behind market-leading stablecoin Tether (USDT), has addressed concerns regarding its operational decisions.
16.06 / 20:21
Kraken
ByBit
Bitget
Nansen Report: Crypto Exchanges Kraken, Bybit, and Bitget Gain Ground After FTX Collapse
Smaller crypto exchanges such as Kraken, Bybit and Bitget are finally getting their time in the spotlight after their more dominant rival FTX collapsed last year, according to findings in a new report from blockchain analytics firm Nansen.
16.06 / 18:39
Tether
reserves
Tether Counted Securities Issued by Chinese Firms Among Its Reserves: Bloomberg News
Tether Holdings Ltd. at one point counted securities issued by Chinese companies among the reserves backing its USDT stablecoin, according to Bloomberg News.
16.06 / 14:39
Blockchain
Stablecoin
Tether
Media
reports
USDT issuer Tether responds to Chinese securities exposure reports
Stablecoin-issuer Tether has published a lengthy response to reports that the reserves of Tether (USDT), one of the largest stablecoins, once included securities issued by Chinese companies.
16.06 / 07:21
Provident
Digital
Platform
Mobile
Massive Online Transition for Tax and Fee Business in China, Digital Yuan Payment in Pilot Use
Shen Xinguo, Director of the Taxpayer Services Division of the State Administration of Taxation, announced that 96% of tax matters and 99% of tax declarations in China can now be handled online, marking a significant move towards digitalization in the country's financial sector. This impressive transition indicates a steadfast commitment towards digitalization and providing more efficient and accessible services for taxpayers.
16.06 / 07:07
UPS
Provident
Digital
Chinese Banks Roll Out More Digital Yuan Wealth Management Options
Chinese banks will let their customers pay for more wealth management products using the digital yuan, as the nation’s central bank digital currency (CBDC) continues to branch out.
16.06 / 06:37
business
Blockchain
Technology
Investments
Web3
Withdrawals
Delio
South Korean Bitcoin lending platform Delio pauses withdrawals
Delio, a virtual asset manager and lending platform based in South Korea, has announced the temporary suspension of customer withdrawals “in order to safely protect the assets of customers currently in custody.”
16.06 / 06:11
Adoption
Binance
regulation
SEC
coinbase
Hong Kong govt pressures banking giants to accept crypto clients: Report
The Hong Kong Monetary Authority (HKMA), which serves as the region's central bank and regulator, has reportedly put pressure on major banks including HSBC and Standard Chartered to accept crypto exchanges as clients.
16.06 / 05:53
business
Blockchain
Adoption
exchanges
Exchanges pledged $2.5B to user protection funds amid FTX’s collapse: Report
According to a new report published by blockchain analytics firm Nansen on June 14, most reputable cryptocurrency exchanges adopted user protection funds amid the collapse of FTX. Together, exchanges such as Binance, OKX and Bitget have more than $2 billion combined in nominal fiat protection funds. Meanwhile, Huobi’s insurance fund is collateralized by 20,000 Bitcoin (BTC), while Coinbase grants up to 150,000 British pounds ($189,140) worth of insurance to U.K. customers’ accounts. The Nansen researchers wrote:
16.06 / 05:48
Tether
USDT
Asia
Bitcoin
‘If You’re Selling BTC for Something, Sell it for Gold Instead of USD’, Says Tether CTO Paolo Ardoino
In an insightful conversation with Cryptonews, Paolo Ardoino, the CTO of both Tether and Bitfinex, shed light on crucial topics relating to the crypto world.
16.06 / 05:18
Target
Waters
NASDAQ
Manufacturing
NVIDIA
Micron
China's VCs look to the Middle East for a U.S. dollar lifeline
BEIJING — Venture capitalists in China that once relied on U.S. investors are now holding court with Middle Eastern money.
16.06 / 05:09
Blockchain
defi
FTX
US prosecutors say SBF will be tried on original 8 criminal charges — for now
The criminal trial of FTX co-founder Sam Bankman-Fried will be going ahead with the eight charges he was initially pinned for by United States prosecutors — at least for now.
16.06 / 05:08
Adoption
HSBC
Bank of China
Standard
HSBC, Standard Chartered, and Bank of China Pressured by Hong Kong to Embrace Crypto Exchanges – Next Crypto Hub?
Hong Kong’s banking regulator has reportedly exerted pressure on banks including HSBC, Standard Chartered, and Bank of China to engage with crypto clients.
16.06 / 04:22
16.06 / 03:35
Digital
VISA
Winter Olympics
ICBC
China to Showcase Digital Yuan at Summer World University Games
Student athletes from around the world will get the chance to use China’s digital yuan in July, with the CBDC put to use at the Summer World University Games in Chengdu.
16.06 / 03:27
HSBC
Standard Chartered
Ft
HSBC, StanChart face pressure from Hong Kong to take on crypto clients - FT
HSBC and Standard Chartered are among lenders facing pressure from Hong Kong's banking regulator to take on crypto exchanges as clients, the Financial Times reported on Thursday, citing three people with knowledge of the matter. The UK-based lenders and the Bank of China were questioned by the Hong Kong Monetary Authority (HKMA) last month on why crypto exchanges were not being accepted as clients, according to the report. Standard Chartered is in regular dialogue with regulators on different subjects, it said in an emailed statement to Reuters, declining to comment further on the FT report. HSBC and the HKMA did not immediately respond to a Reuters request for comments.
16.06 / 02:40
Blockchain
Citi
Digital
Progressive
Shanghai, China, Launches a Comprehensive Technical Initiative for the Metaverse (2023-2025)
The Shanghai Municipal Science and Technology Commission announced today the release of its «Shanghai Metaverse Key Technology R&D Plan (2023-2025)». The plan revolves around the key technology dimensions of the Metaverse, including content, computation, transmission, and terminal technology, integrating domestic and international industrial development trends and local research and development foundations.
16.06 / 02:05
Law
regulation
crimes
FTX
Court
Fried
Sam
Judge will consider whether to try Sam Bankman-Fried separately for superseding charges: Report
A United States federal judge is reportedly weighing a proposal to split former FTX CEO Sam Bankman-Fried’s (SBF) criminal charges into two trials following a filing from prosecutors.
14.06 / 04:10
UBS
Bank of China
Bank of China Uses Ethereum Blockchain for $28 Million Digital Structured Notes – Crypto Adoption on the Rise?
Bank of China's investment arm BOCI has utilized the Ethereum blockchain network to issue $28 million worth of digital structured notes.
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