China Financial News

14.02 / 22:29

business Technology Adoption Bitcoin Are we misguided about Bitcoin mining's environmental impacts? Slush Pool's CMO Kristian Csepcsar explains

It's a controversial topic in the blockchain community that comes up from time to time — just how much impact Bitcoin (BTC) mining has on the environment. Last year, Tesla's CEO Elon Musk brought forth a sharp correction in the cryptocurrency market by tweeting that his namesake car company would abandon plans to accept BTC, citing "rapidly increasing use of fossil fuels for Bitcoin mining and transactions." However, a recent report published by CoinShares notes that despite the widespread use of coal, oil, and gas for Bitcoin mining, the network accounts for less than 0.08% of the world's CO2 production.

14.02 / 16:41

Manufacturing ATV Industry Rift Exposes U.S. Divide on Chinese Tariffs

WASHINGTON—The U.S.-China trade conflict has spun off a side skirmish in the all-terrain vehicle industry, pitting a major U.S. manufacturer against retailers that sell Chinese versions of the popular off-road machines.

14.02 / 02:45

NASDAQ DOW COMPOSITE rate hikes Nasdaq futures are slightly lower as Wall Street weighs Russia-Ukraine tensions, potential Fed rate hikes

Stock futures dipped slightly Sunday evening as investors continued to monitor the developing tension between Ukraine and Russia and potential Fed rate hikes.

13.02 / 18:17

global economy Threat Omicron’s Threat to Global Economy Increasingly Runs Through China

The direct economic harm caused by the Omicron variant of Covid-19 in highly vaccinated countries appears so far to be relatively modest and short-lived, but its indirect hit could prove significant if China resorts to repeated lockdowns in its effort to suppress the virus within its borders.

13.02 / 11:19

Blockchain Adoption Lightning Network Bitcoin network Time Bitcoin Network Bitcoin network hash rate explodes to a new all-time high of 248.11 EH/s

The Bitcoin (BTC) network has recorded a new hash rate all-time high of 248.11M TH/s as of Feb. 12, 2022, further securing the decentralized ecosystem through a growing network of global BTC miners.

13.02 / 01:17

UPS Citizens Will EU give in to the calls of a crypto ban like China

Governor Matolcsy of the Central Bank of Hungary has expressed support for the idea of a crypto ban in the EU. He noted in a statement,

12.02 / 12:47

business Adoption Europe Bitcoin Hungary's central bank chief wants EU-wide crypto trading and mining ban

György Matolcsy, Governor of the Hungarian National Bank, has proposed a blanket ban on all cryptocurrency trading and mining operations across the European Union.

11.02 / 17:27

Provident Digital Baidu Chinese metaverse to look different than the rest of the world’s

Chinese search provider Baidu had announced a self-developed metaverse last year in December. The year when China took a policy decision to curb all private crypto activities from the country by tagging them ‘illegal.’ However, interestingly, this year China was also the front runner to launch an e-CNY CBDC during the Beijing Olympics. Many commentators fear, the e-CNY will be a centralized version of a digital currency under the PBoC’s surveillance.

11.02 / 12:35

Digital VISA Platform Mobile Winter Olympics Digital Yuan Transactions Overtakes Visa during Beijing Winter Olympics

At the opening ceremony of the 2022 Winter Olympics in Beijing, the number of transactions using the digital yuan greatly exceeded Visa, according to a Wall Street Journal reported on Wednesday.

11.02 / 08:23

business Adoption regulation NOT China's Metaverse plans: Decentralization not required

Experts say that China’s corner of the Metaverse is likely to evolve very differently to other international markets and that decentralized infrastructure may not be part of the game plan.

11.02 / 04:43

regulation Sport Gaming Winter Olympics Official Winter Olympics P2E Game Is a Non-Starter in the Games’ Host Country

Crypto is making its presence felt through its absence at the Winter Olympics, currently underway in China. The International Olympic Committee (IOC) has struck a partnership deal with nWay, a subsidiary of the play-to-earn (P2E) gaming giant Animoca Brands, which has released the “official video game” of Beijing 2022. The snag? It’s banned in the Olympic host nation.

11.02 / 01:23

business VISA transactions Winter Olympics Digital yuan transactions beat out Visa at Winter Olympics venue: report

On the day of the opening ceremony of the Beijing 2022 Winter Olympics, there were reportedly more transactions made in China’s central bank digital currency than those through Visa.

10.02 / 22:17

markets Facebook stocks Bitcoin Strong Bitcoin and stocks rally position bulls for victory in Friday’s $860M options expiry

Bitcoin (BTC) bulls have good reason to celebrate the 22% gain in the past week. The price is pushing toward $46,000 and to the surprise of many, the $43,000 level held steady despite the volatility caused by the United States inflation data released on Feb.10.

10.02 / 14:41

MET Cold War Russia Thrived as It Integrated With the West—a New Cold War Is Unraveling That

Russia’s annexation of Crimea in 2014 was an inflection point for globalization. The economic integration between east and west that began with the fall of the Berlin Wall in 1989 started to unravel.

10.02 / 09:13

NFT United Nations UN approves NFT standards initiative led by Tencent

Chinese entertainment conglomerate Tencent has been approved by the United Nations to lead a project exploring the creation of a standard technical and security framework for non-fungible tokens (NFTs) .

10.02 / 06:13

Strategy Matthews SoftBank NVIDIA SoftBank's long-term investment strategy may benefit in the current interest rate environment, says CLSA

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09.02 / 22:37

Blockchain NFT Mobile Games Game review: Olympic Games Jam Beijing 2022

Olympic Games Jam: Beijing 2022 is the Winter Olympic's official play-to-earn multiplayer mobile game, created in collaboration between Animoca Brands-owned nWayPlay game studio and the International Olympics Committee. The app is currently only available on the Google Play store for Android phones, with no official release date for iOS devices yet. In the Olympian spirit, Cointelegraph played the newly launched game and reviewed the experience.

09.02 / 17:17

Blockchain Health The virus killer: How blockchain contributes to the fight against COVID-19

On Jan. 30, the South China Morning Post reported that one of the largest Asian pharmaceutical companies, Zuellig, had launched a blockchain-based system to track the quality of COVID-19 vaccines. Called “eZTracker,” it allows any user to “instantly verify the provenance and authenticity” of vaccines by scanning the QR code on the package. Somewhat surprisingly, throughout the pandemic, there have not been many reports of blockchain-based products adopted by big pharma or global healthcare organizations to bolster the anti-COVID effort. Here is a rundown of the major cases of such adoption, along with possible reasons for the limited interest in blockchain among healthcare officials.

09.02 / 16:53

China’s quant hedge funds wobble as unexpected market turn surprises some algorithms

Some data-driven Chinese hedge funds have stumbled, after several years of eye-catching returns and surging inflows from investors.

09.02 / 04:21

cryptocurrency regulation Hong Kong Needs to Respond to Crypto Market Changes with New Rules - Treasury Chief

Hong Kong regulators and senior members of the government have spoken about their willingness of introducing new rules to police the crypto sector, with a new set of guidelines already formulated for crypto brokerages.

09.02 / 02:27

U.S. Trade Deficit Hit Record in 2021 as Americans Spent on Computers, Games

WASHINGTON—The U.S. trade deficit increased 27% last year to an all-time high of $859.1 billion, underscoring the strength of the American economy, as well as its continued hefty dependence on imports from China and other nations.

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