June 2023
China Mobile launches metaverse industry alliance
China Mobile, a leading telecommunication company of China, launched a metaverse alliance on Wednesday, whose members include Huawei, Xiaomi and Unity China.
Shanghai targets US$6.9 billion metaverse revenue from culture, tourism projects
Shanghai on Wednesday released a three-year plan to build its culture and tourism metaverse.
Shanghai Clearing House launches digital yuan services for commodity trading
The Shanghai Clearing House started digital yuan clearing and settlement services for trading in commodities on Monday.
Bitcoin surges above US$28,000 on institutional adoption; Ether gains; U.S. equity futures down
Bitcoin surged over 5% on Wednesday morning in Asia to breach the US$28,000 resistance level, leading a rally of the top 10 non-stablecoin tokens except XRP.
Bitcoin gains ground, Ether rises, Solana leads winners, BNB little-changed to lower
Bitcoin rose on Tuesday morning in Asia to hold above support at US$26,000. Ether also logged gains along with most other top 10 non-stablecoin tokens.
Bitcoin dips after reclaiming US$26,000, Ether falls; XRP gains, Tron leads losers in crypto top 10
Bitcoin dipped on Monday morning in Asia after reclaiming US$26,000 support over the weekend. Ether also fell back but held above US$1,700.
Hong Kong Monetary Authority urges banks to service crypto firms: Financial Times
HKMA is urging lenders including HSBC, Standard Chartered and Bank of China to service crypto exchanges. Financial Times reported on Thursday.
Back to the physical: China metaverse seeks to boost real-world economy
The final story in a three-part series on Asia metaverse developments looks at China’s national strategy, which has seen dozens of cities and provinces release spending plans and training schemes to adopt this digital world in real-world industries. China’s initiatives, however, face challenges from regulation and global competition.
Nanjing city district announces bold metaverse goals as China competition heats up
Jiangning, a district in China’s Nanjing city, released a metaverse plan on Saturday that includes training thousands of professionals for the industry.
The Moment3 to launch NFTs with Alibaba’s e-commerce platform AliExpress
AliExpress, the global online platform of China’s e-commerce giant Alibaba Group, will launch NFTs on June 25 working with NFT project “the Moment3!”.
China state media covers SEC’s lawsuit against Binance, CEO Changpeng Zhao
CCTV, China’s largest national TV broadcaster, ran about a minute-long segment on Tuesday flagging SEC’s lawsuit against Binance and its founder Changpeng Zhao.
Bitcoin dips under US$27,000, Ether falls, Litecoin leads winners, U.S. equities bounce back
Bitcoin fell Friday morning in Asia to trade below US$27,000. Ether and most other top 10 non-stablecoin tokens traded flat to lower. Litecoin gained.
Bitcoin logs monthly loss, Ether retreats, XRP leads losers, U.S. equities slide
Bitcoin fell on Thursday morning in Asia to post the first monthly loss of the year. Ether and all other top 10 non-stablecoin tokens also traded lower.
May 2023
Bitcoin, Ether flat; XRP jumps; U.S. equity futures mixed ahead of debt ceiling vote
Bitcoin traded flat on Wednesday morning in Asia, after briefly breaching US$28,000. Ether dipped while other top 10 non-stablecoin tokens traded mixed.
Bitcoin, Ether dip; XRP rises; U.S. equity futures gain as debt ceiling worries fade
Bitcoin fell in Tuesday morning trading in Asia. Ether and most other top 10 non-stablecoin tokens also logged losses, while XRP gained.
Bitcoin drops below US$28,000, Tron’s deflation slows losses
Bitcoin couldn’t maintain its Monday morning gains as the world’s largest cryptocurrency dropped below US$28,000 in the afternoon.
Bitcoin back above US$28,000 as cryptos rebound on positive debt ceiling talks
Bitcoin moved back above US$28,000 on Monday morning in Asia, leading a rally among all top 10 non-stablecoin tokens. Ether reclaimed the US$1,900 level.
China: Zhengzhou City proposes metaverse plan
China’s Zhengzhou city issued a set of policy proposals Wednesday to support metaverse companies, including a 10 billion yuan (US$1.42 billion) metaverse fund.
Hong Kong’s new crypto rules covered by China state TV in rare move from Beijing
Analysts say the move could signal a bull run in cryptocurrencies.
China’s Nanjing city launches state-backed metaverse entity
China’s Nanjing City launched a state-backed organization on Monday to promote and enhance metaverse studies throughout the nation.
Conflux Network, China Telecom unveil blockchain-based SIM card
Conflux Network and China Telecom on Tuesday unveiled their first blockchain-based SIM card, which will be piloted in Hong Kong.
China’s top prosecuting body issues warnings, guidance about country’s NFT market
China’s top legal authority issued a commentary on Monday about the risks and potential in NFTs, highlighting the need for legislation.
China’s Jiangsu Province to expand digital yuan adoption in education sector
China’s Jiangsu Province plans to expand the use of digital yuan to its public education system, as the province seeks to spearhead the country’s CBDC pilot.
China’s Fuzhou City offers cash, subsidies to attract blockchain companies, investment
China’s Fuzhou City on Friday unveiled a raft of policies to attract investment by blockchain-related companies, including rent subsidies and cash awards.
Bitcoin, Ether fall to month lows; Polygon leads losers; U.S. equity futures up as inflation cools
Bitcoin prices slid under US$27,000 on Friday morning in Asia. Ether fell below support at US$1,800 as all top 10 non-stablecoin tokens retreated.
China’s national blockchain research center aims to train 500,000 blockchain professionals
China’s national blockchain research center was launched in Beijing on Wednesday and plans to train over 500,000 blockchain professionals for the country.
Bitcoin drops on liquidity concerns, Ether dips; Polkadot leads winners; U.S. equity futures gain
Bitcoin fell on Thursday morning in Asia to trade around the US$27,500 mark. Ether led the losers in the top 10 non-stablecoin cryptocurrencies.
Bitcoin, Ether edge up; Litecoin leads winners, Matic the losers; U.S. equity futures flat
Bitcoin edged higher on Wednesday morning in Asia to hold above the US$27,500 mark. Ether also gained. Other top 10 non-stablecoin tokens traded mixed.
Bitcoin falls below US$28,000, Ether declines, Litecoin slips further, US equity futures stall
Bitcoin fell below US$28,000 on Tuesday morning in Asia as memecoin hype clogged the network and drove up transaction fees. Ether and all other top 10 non-stablecoin tokens dropped.
Cryptocurrencies can be used for debt settlement in China: Supreme Court
Cryptocurrencies in China can be legally used to settle basic relations debts such as exchange and labor, according to the Supreme People’s Court of China.
Bitcoin, Ether fall; XRP leads losers as top 10 tokens lose steam; US equity futures flat
Bitcoin fell in Monday morning trading in Asia after failing to breach the US$30,000 ceiling over the weekend. Ether dropped below the US$1,900 mark.
Bitcoin, Ether dip following Europe’s rate hikes; US equity futures edge up despite banking woes
Bitcoin dipped below US$29,000 in Friday morning trading in Asia as rate hikes in Europe sent uncertainty to investors. Ether fell below US$1,900.
Bitcoin up on bank jitters, price forecasts; Ether dips, U.S. equity futures flat
Bitcoin edged up on Monday morning in Asia to hold above US$29,000. Ether fell below US$1,900. Most other top 10 non-stablecoin tokens traded lower except BNB.
April 2023
HKMA urges local banks to provide services to regulated digital asset firms
Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority, urged local lenders to provide banking services to regulated crypto firms.
Bitcoin gains after week of bank turbulence, Ether dips, U.S. equity futures lose steam
Bitcoin rose on Friday morning in Asia amid worries about U.S. banks and a possible recession. Ether edged lower. along with most other top 10 tokens.
Bitcoin, Ether rebound after early morning fall; U.S. equity futures gain on Meta outlook
Bitcoin rose above US$29,000 on Thursday morning in Asia, rebounding from an earlier drop. Ether gained. Other top 10 non-stablecoin tokens traded mixed.
Bitcoin bounces back to US$28,000, Ether gains; U.S. equity futures up on tech earnings
Bitcoin rose in Wednesday morning trading in Asia to reclaim the US$28,000 mark, with Ether and all other top 10 non-stablecoin cryptocurrencies moving higher.
Bitcoin loses ground, Ether dips even as inflows rise; Litecoin edges up, with halving cited
Bitcoin fell below US$27,500 support on Tuesday morning in Asia. Ether and most other top 10 tokens traded lower amid a broader correction.
China’s Changshu city to pay civil servant salaries in digital yuan
State employees in China’s Changshu City will receive their salaries in digital yuan from May, as China’s CBDC expands in daily uses.
Bitcoin, Ether gain, but hold losses for the week; U.S. equity futures lose ground
Bitcoin rose on Monday morning in Asia but was boxed in below US$28,000. Ether and most other top 10 tokens gained, but not by enough to erase losses for the past week.
Bitcoin falls to near US$28,000, Ether flat, U.S. equities slide on rate hike worries
Bitcoin fell to near US$28,000 on Friday morning in Asia, with Ether trading flat and most other top 10 non-stablecoin tokens losing steam.
Bitcoin falls below US$29,000, Ether slumps, U.S. equities stall on inflation concerns
Bitcoin slid below the US$29,000 mark on Thursday morning in Asia. Ether lost hold of US$2,000 in a sell-off across all top 10 non-stablecoin tokens.
Bitcoin to peak at US$42,000 in 2023, end the year above US$35,000: Finder survey
Bitcoin is expected to hit a high of US$42,225 in 2023 and close the year around US$35,485, according to a survey by Finder.
Bitcoin reclaims US$30,000, Ether heads higher after grilling of SEC’s Gensler; Polkadot leads winners
Bitcoin rebounded above US$30,000 on Wednesday morning in Asia. All top 10 tokens rose after SEC chair Gary Gensler was criticized at a congressional hearing for his approach to digital assets.
Bitcoin, Ether, other crypto fall as SEC waves big stick; Dogecoin gains; U.S. equity futures flat
Bitcoin, Ether and most other top 10 non-stablecoin cryptocurrencies dipped Tuesday morning in Asia after the SEC sued crypto exchange Bittrex on Monday.
Bitcoin dips under US$30,000; Ether takes a breather; Binance, Solana lead gainers
Bitcoin dipped below US$30,000 in early Monday morning trading in Asia. Ether stalled after strong gains that followed last week’s blockchain upgrade.
Bitcoin rises to near US$31,000, Ether leads gains across top 10 cryptos
Bitcoin continued its rally to near the US$31,000 mark in Friday afternoon trading in Asia. All other top 10 non-stablecoin cryptos gained, led by Ethereum.
Bitcoin heads higher, Ether breaches US$2,000, U.S. equities rally on weak inflation readings
Bitcoin rose higher in the US$30,000 band on Friday morning in Asia amid strong gains among the top 10 non-stablecoin cryptocurrencies. Ether led the winners.
Hong Kong’s ZA Bank starts offering crypto-fiat conversion services: Bloomberg
ZA Bank, the largest virtual bank in Hong Kong, has started offering cryptocurrency conversion services through licensed crypto exchanges.
Bitcoin fluctuates at US$30,000; Ether gains; Litecoin, XRP drop; U.S. equities fall on recession concern
Bitcoin dipped but held above US$30,000 in Thursday morning trading in Asia that saw mixed performances among the top 10 non-stablecoin cryptocurrencies.
Bitcoin maintains US$30,000, Solana jumps, U.S. equities trade mixed
Bitcoin held above US$30,000 in Wednesday morning trading in Asia, while most other top 10 non-stablecoin cryptocurrencies moved higher.
Ex-chief of HKMA heads Hong Kong’s new Web3 institute
Hong Kong has established the Institute of Web 3.0 to facilitate the development of the crypto ecosystem in the city, directed by a former head of HKMA.
Bitcoin pops above US$30,000, Ether jumps, Solana gains, U.S. equities trade mixed
Bitcoin surged above US$30,000 on Tuesday morning in Asia to the highest in about 11 months, leading a rally of all top 10 non-stablecoin cryptocurrencies.
Swiss PostFinance bank to offer crypto services to 2.5 mln customers
PostFinance, a Swiss government-owned retail bank, has partnered with Sygnum Bank to provide crypto-related services.
Bitcoin, Ether dip; Dogecoin loses Twitter tailwind; U.S. equities drop on recession concerns
Bitcoin dipped below US$28,000 in Thursday morning trading in Asia as most other top 10 non-stablecoin cryptocurrencies lost steam. Dogecoin led the losers.
Bitcoin dips, Ether gains, Dogecoin soars following Twitter icon change
Bitcoin dipped below US$28,000 in mixed Tuesday morning trading in Asia. Ether rose. Dogecoin surged after Elon Musk switched the Twitter icon to Dogecoin’s Shiba Inu.
Bitcoin, Ether drop; US equities rise as inflation cools
Bitcoin dipped on Monday morning in Asia but held above US$28,000. Most top 10 non-stablecoin cryptos dropped following a week unsettled by regulatory woes.
March 2023
Crypto platforms need regulation as form of investor protection: HK’s SFC chief
Government officials from Hong Kong and mainland China talked about cryptocurrencies at the Boao Forum in China, as both chase Web3 ambitions.
Bitcoin fluctuates to hold US$28,000, Binance BNB token rises despite regulatory threat
Bitcoin dipped in Friday morning trading in Asia but held above US$28,000. The top 10 non-stablecoin cryptocurrencies traded mixed. Binance’s BNB led the winners.
Bitcoin climbs above US$28,000, XRP leads winners for the week, U.S. equities jump
Bitcoin edged above US$28,000 in Thursday morning in Asia amid a broad rally in most top 10 non-stablecoin cryptocurrencies.
Bitcoin holds ground amid Binance lawsuit, XRP continues run up, U.S. equities dip
Bitcoin rebounded in Wednesday morning trading in Asia along with all other top 10 non-stablecoin cryptocurrencies. XRP led the winners.
Bitcoin, other crypto fall as U.S. sues Binance; U.S. equities gain as banks stabilize
Bitcoin fell Tuesday morning in Asia along with most other top 10 non-stablecoin cryptocurrencies after the U.S. filed a lawsuit against Binance.
Bitcoin gains as investors diversify amid worries about banking system; U.S. equity futures rise
Bitcoin and the other top 10 non-stablecoin cryptocurrencies rose on Monday morning in Asia, as investors diversify amid the ongoing banking turmoil.
Bitcoin rebounds above US$28,000 as equities gain in U.S. on Treasury easing bank worries
Bitcoin bounced back above US$28,000 on Friday morning in Asia amid a rebound in all top 10 non-stablecoin cryptocurrencies and gains in equities overnight.
Bitcoin tracks equities lower on downbeat Fed, Treasury comments on banks
Bitcoin fell on Thursday morning in Asia, tracking equities lower after the U.S. Fed indicated interest rates could stay higher for longer.
Internal Revenue Service in U.S. solicits public opinions on proposed NFT taxes
The IRS intends to tax NFTs as collectibles in the U.S. and is soliciting public opinions on the proposal through June.
Bitcoin moves above US$28,000, Ether gains, XRP surges, U.S. equities rally
Bitcoin held above US$28,000 on Wednesday morning in Asia amid a rebound in most top 10 non-stablecoin cryptocurrencies. XRP led the winners.
Bitcoin treads water, other crypto retreat ahead of U.S. Fed’s decision on interest rates
Bitcoin traded flat below US$28,000 on Tuesday morning in Asia. Most other top cryptocurrencies retreated ahead of a U.S. decision on interest rates.
Bitcoin leads crypto rally as central banks promise liquidity to stem rising bank risk
Bitcoin briefly breached US$28,000 at the weekend in a bullish run extending into Monday morning in Asia amid worries about bank risk.
Bitcoin, Ether, other crypto gain with equities amid global fund injections to support banks
Bitcoin neared the US$25,000 mark on Friday morning in Asia. Cryptocurrencies gained as the U.S. and Europe moved to backstop troubled banks with cash.
Bitcoin, Ether drop, other top cryptocurrencies retreat as bank liquidity concerns rise
Bitcoin and Ether dropped in Thursday morning trading in Asia along with most other leading tokens amid broader concerns about bank liquidity.
Bitcoin, Ether continue run up; Solana, Dogecoin lead gainers; U.S. equities rebound
Bitcoin and Ether continued strong price gains, with most of the top 10 non-stablecoin cryptocurrencies logging advances for the past seven days.