China Financial News

A report claims crypto investors made total gains of $160 billion last year

Expressions of relief juxtaposed with tales of horror as a bus carrying 80 people fleeing Mariupol arrived in Zaporizhzhia.

As China tries to restart manufacturing in areas hit by Covid-19 lockdowns, companies are discovering that reopening their factories is not so simple.

FRANKFURT—Economic growth is slowing in large parts of the globe as businesses struggle to navigate a looming slowdown in China and surging prices aggravated by Russia’s war in Ukraine.

Mere days before the second round of the fateful presidential election in France, the incumbent President of the Republic, Emmanuel Macron, sat down with local media to share his thoughts on the digital economy — a subject he didn’t speak on much before. While emphasizing the importance of the sector, Macron once again reiterated his support for the pan-European approach to financial technology regulation. 

The race for greater crypto adoption often leads to competition between so-called developed countries and developing countries. While economies in which crypto helps unbanked people often see high levels of adoption, residents in the Global North enjoy easier – and often, legal – access to crypto-based services. However, according to a study by Chainalysis, one country definitely made a killing in terms of crypto gains in 2021.

Bharti Airtel chairman Sunil Mittal has backed FM Nirmala Sitharaman’s recent call for governments worldwide to evolve a suitable global regulatory regime to track new age crypto-currencies which can pose serious problems. “The world will move to crypto-currencies as it’s a fine technology, but nation states must collectively evolve a suitable global regulation to legitimise it and ensure such digital fund transfers happen in a safe environment, and that wrong people don’t benefit from it, especially as these transactions can’t be traced or tracked,” Mittal said at the Times Network India Economic Conclave 2022, Thursday. The telecom billionaire added that India is amongst the most important nations in a deeply-divided world as it has consistently valued its democratic system. This, he said, is also reflected in the fact that Indians today are CEOs of several top Fortune 500 countries, instead of anyone from neighbouring China, largely since MNCs across the world prefer to choose leaders from countries that have cherished democratic values and systems. “Do you really see even one Chinese heading an MNC today, there is none.”

BEIJING — Foreign businesses are struggling to bring workers back to factories after weeks of lockdowns in Shanghai, as the country battles its worst Covid outbreak since the pandemic began.

Chinese media outlets have been reporting on a new first for the digital yuan – with the central bank-issued token used to pay a court-issued fine for the first time.

Peter Thiel has led a chorus of bitcoin fans slamming ESG as a "hate factory" and the enemy of crypto.

Ethereum (ETH) edged out bitcoin (BTC) in a ranking of the top cryptoassets by realized gains in the world, with USD 76.3bn taken out in fiat profits last year, compared with USD 74.7bn in realized profits for bitcoin, according to blockchain intelligence firm Chainalysis.

The United States rolled out new sanctions on Wednesday against more than 40 individuals and entities accused of evading the ongoing wave of penalties imposed on Russia as punishment for invading Ukraine.

US has imposed sanctions on a crypto mining firm BitRiver over its Russian operations

Crypto investors from the United States realized crypto gains nearly six times higher in total than the UK, the second highest country in terms of realized gains. 

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The former governor of the central People’s Bank of China (PBoC) has reiterated claims that the forthcoming digital yuan has been designed primarily for retail use by domestic and even international users – not for cross-border trade purposes.

The International Monetary Fund further slashed its growth forecast for China this year to 4.4%, well below what Beijing aims to achieve, as widespread Covid-19 lockdowns and Russia’s invasion of Ukraine exacerbate pressure on the world’s second-largest economy.

WASHINGTON—How to balance a pressure campaign against Russia with a push to address growing crises like food insecurity will be a central test for Treasury Secretary Janet Yellen and other U.S. officials as they meet this week with their global counterparts.

Tsinghua University has launched China's first metaverse laboratory, dedicated to studying the growth and expansion of the new digital industry in the country, according to a report by The Crypto Times.

Bosses and unions in Germany have joined forces to oppose a possible EU ban on Russian gas, saying it would grind industry to a halt.

BEIJING — Investors turned increasingly cautious on Chinese stocks, especially those listed overseas, in the first quarter of the year that was rocked by geopolitical tensions and worries about growth.