China Financial News
08.06 / 08:19
Provident
Twitter
Target
Platform
Action
Uniswap Founder Reveals Sophisticated Scam Targeting the Chinese Community
Uniswap's founder, Hayden Adams, recently took to Twitter to expose an elaborate scam targeting the Chinese cryptocurrency community. The scam involves a fake fork of the Uniswap website and purportedly features a one-hour Zoom recording with individuals impersonating Uniswap executives.
08.06 / 06:55
Lowe's
Tesla
NVIDIA
Micron
China's big banks cut deposit rates, signaling monetary easing ahead
BEIJING — China's largest banks cut interest rates for savers on Thursday in a bid to boost growth in an economy where consumption has been slow to recover.
07.06 / 20:35
Stablecoin
Payments
regulation
Circle
Circle is latest recipient of Major Payment Institution license in Singapore
Circle’s Singapore affiliate, Circle Internet Singapore, has received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). Circle Singapore received in-principle MPI approval from MAS in November and opened its office in the city-state in May.
07.06 / 20:27
business
Binance
Premium
Binance.US coins trade at premium amid litigation fears, fiat gateway issues
On June 7, multiple coins and tokens listed on Binance.US, the U.S. subsidiary of cryptocurrency exchange Binance, began deviating from their fair value to trade at premiums. Coins such as Bitcoin (BTC) and Ether (ETH) were priced at $27,445 and $1,911, respectively, compared to CoinMarketCap averages of $26,490 and $1,850.
07.06 / 18:39
Blockchain
banking
Future
Will crypto remittances be the future of global money transfers?
In this era of global economies, where cross-cultural exchanges and international transactions are increasingly common, the demand for efficient and accessible cross-border money transfers has reached new heights of importance. Whilst traditional remittance providers have long dominated the market, the rise of cryptocurrencies has introduced a disruptive force that is challenging the status quo. As cryptocurrencies gain momentum, the question arises: Will crypto remittances shape the future of global money transfers?
07.06 / 14:27
business
Binance
FTX
sec lawsuit
Binance says it's 'different' from other exchanges amid SEC lawsuit
On June 7, cryptocurrency exchange Binance published a statement on its Chinese social channels with the hashtag #StrongTogether. Amid ongoing litigation with the United States Securities and Exchange Commission (SEC), Binance said its wallet addresses are transparent and that the exchange never "siphoned consumers' funds" nor has "any collateralized borrowings."
07.06 / 12:13
Citi
Deal
London developer pushes back on Baupost’s claims over Royal Albert Dock deal
A London developer is denying claims from a Boston hedge fund, that it reneged on a deal over joint acquisition of a part of the city's Royal Albert Dock.
07.06 / 06:23
BTC
Binance
Digital
SEC
Action
Bitcoin
sec lawsuit
Bitcoin Price Prediction: BTC Rebounds to $27,000 Following SEC Lawsuit Against Binance
Bitcoin, the leading cryptocurrency, has experienced a rebound in its price, climbing back up to $27,000 after facing a significant drop caused by the SEC's lawsuit against Binance.
07.06 / 05:39
regulation
FTX
Court
SBF upset by criminal trial's late evidence while FTX seeks sale of AI stock
Former FTX CEO Sam Bankman-Fried claims prosecutors have missed discovery deadlines for key pieces of evidence required in the defense of a raft of fraud charges.
07.06 / 04:07
Reuters
China's exports plunge by 7.5% in May, far more than expected
BEIJING — China's exports fell in May for the first time since February, customs data showed Wednesday.
06.06 / 21:06
stocks
Derivatives
Trade
Crypto Exchange
Will
Hong Kong launches retail-friendly rules for crypto exchanges
The Chinese finance hub is racing regulators around the world to lay down ground rules for crypto after high-profile failures like trading platform FTX, which led the United States to crack down on a sector worth more than $1 trillion. China has had a strict crypto ban since 2021, but in Hong Kong — which operates on a separate legal framework — trading has been allowed though unregulated, meaning individual investors resort to unlicensed platforms. The regulatory regime launched Thursday means that after a one-year transition period, all crypto exchanges in Hong Kong must be licensed, and will be able to take on retail clients.
06.06 / 20:09
BRICS
The Rise of Cryptocurrencies in Arab Countries: Understanding Saudi Arabia's Latest Move
With cryptocurrencies increasingly gaining a foothold across the Arab world, some industry analysts are examining how Saudi Arabia’s plan to join China’s New Development Bank, also known as the BRICS bank, could impact on diversifying the kingdom’s financial environment.
06.06 / 19:58
business
Bankruptcy
FUD
Gate.io threatens legal action against rumor-mongers
Centralized crypto exchange Gate.io has threatened legal action in response to rumors of imminent bankruptcy. Crypto community members have been speculating since May about a possible connection between Gate.io and the troubled cross-chain protocol Multichain.
06.06 / 19:46
Ethereum
Adoption
defi
Tokens
Small business lending protocol Defactor tokenizes $100M in bonds
On June 6, decentralized finance (DeFi) lending platform Defactor Labs said that it tokenized $100 million worth of Alpha Bonds using the ERC-3643 token standard. The bond, tokenized on the Polygon (MATIC) network, will be lent to small and medium-sized enterprises using real-world assets, such as receivables, as collateral.
06.06 / 19:09
Binance
regulation
Bitcoin Regulation
Binance Coin
Binance USD
Binance vs. SEC: Crypto industry debates ‘Tai Chi’ vs. ‘Operation Chokepoint 2.0’
The United States Securities and Exchange Commission (SEC) has filed charges against Binance, its U.S.-based exchange entity and its CEO, Changpeng Zhao, for violating securities laws.
06.06 / 18:54
regulation
How regulators are mitigating the risk of extinction from AI: Law Decoded, May 29–June 5
The lively discussion around artificial intelligence (AI) continues. Last week, dozens of AI experts — including the CEOs of OpenAI, Google DeepMind and Anthropic — signed an open statement with a single sentence: “Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war.”
06.06 / 18:27
Lowe's
Enterprise
India aiming for China’s crown as Asia’s private equity powerhouse
India toppled China’s long-held status as the world’s most populous country at the end of April. Now, dealmakers are starting to ask whether India might steal China’s crown as Asia’s largest private equity powerhouse too.
06.06 / 18:24
business
Blockchain
Ethereum
European Union
Bitcoin
Sequoia Capital announces three-way split to separate China business
Venture capital firm Sequoia announced an impending split that will see the company break into three distinct partnerships serving the United States, China, and Asian markets separately.
06.06 / 18:20
06.06 / 17:18
Telegram
meme coins
New Shiba Inu, China-Japan INU Meme Coin Price Explodes 40,000%, Wall St Memes Pumps to $4.5m
The latest meme coin to challenge for the Shiba Inu crown by grabbing buyers’ dollars is $INU, which launched two days ago and has risen 40,000%.
06.06 / 16:53
business
Law
regulation
Asia
exchanges
regulatory
Hong Kong’s regulatory lead sets it up to be major crypto hub
Hong Kong — officially the Hong Kong Special Administrative Region of the People’s Republic of China — is a city of over seven million residents on the eastern Pearl River Delta in South China. The city is known for being pro-innovation and technology, and over the past year, it has introduced legislation to promote and adopt cryptocurrencies.
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