US SPAC’s refusal to merge with Hong Kong crypto firms raises questions
Crypto 1 will consider acquisition targets worldwide but steer clear of digital assets companies in China and Hong Kong. Are the lights dimming on a major crypto hub?
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US SPAC Crypto 1 closes IPO, says won’t pursue ‘business combinations’ with any Hong Kong crypto firms
Crypto 1 Acquisition Corp., a U.S.-incorporated blank check company, has completed its initial public offering (IPO) with gross proceeds of US$230 million, according to a company statement released Friday. Fast facts The company’s units commenced trading on the Nasdaq Global Market under the ticker symbol “DAOOU” on Dec. 7. Acting as a special purpose acquisition…
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Top crypto CEOs face House committee grappling with regulations
Stablecoins, US dollar primacy and energy consumption were among the topics in the questioning homing in on how to regulate the crypto industry.
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Tencent Cloud wins bid to build massive blockchain platform in Beijing
The Beijing Municipal Government announced the bidding results for the city’s blockchain and computing power platform. Tencent Cloud and government-tied enterprise Beijing Microchip Sensing Technology won the bid and will be paid US$37 million to build the system. Fast facts According to the bid’s quotations, Tencent Cloud will provide the cloud service for the blockchain…
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OpenSea’s Wall Street waltz disappoints NFT devotees
OpenSea IPO plans in choppy waters. Crypto markets crumble. Bitcoin mining power struggles.
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Bitcoin crash drags down South Korean NFT game stocks
South Korean game shares fell sharply, just a few weeks after announcements of new NFT metaverse ventures sent the shares up.
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PBoC has established an e-CNY distributed ledger
But the head of the central bank’s digital currency research institute says issues remain such as technical standards for blockchain interconnectivity.
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Global markets downturn hits crypto as well; BTC trading below $50K
For the second weekend in a row, markets were hit with a massive shock due to external factors. Market watchers weigh in on price movements and what to expect.
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New round of digital yuan coupons issued as Beijing Winter Olympics near
In Beijing, four state-run banks released a new batch of digital yuan (e-CNY) coupons on Thursday to promote its adoption rate in rehearsal for the upcoming Winter Olympics. This batch of coupons tests the e-CNY’s application in small-amount and high-frequency payment scenarios. Fast facts According to an announcement from Beijing financial authorities, coupon use cases…