Digital yuan trials now looking like a ‘soft launch’ stage
China’s high penetration of smartphones, digital-savvy population helps reduce e-CNY testing time, observers say
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Bitcoin price above $50K, Cardano and Solana at all-time highs as crypto market surges
Led by Ethereum rivals, crypto prices are in an upswing with over $2.1 trillion in total market cap. Is this the start of another crypto bull run?
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Survey predicts crypto will rival or replace fiat within 10 years
Cryptocurrency and other digital assets are expected to rival or displace fiat currencies within the next decade, according to Deloitte’s 2021 Global Blockchain Survey. Fast facts More than three quarters of the 1,280 executives and practitioners surveyed by Deloitte, the global consulting, tax services and auditing firm, think that digital assets “will serve as a…
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The9 sets up another joint venture to mine crypto in Kazakhstan
The9 Ltd., a Chinese gaming company that only a few months ago pivoted its business to crypto mining, is setting up another joint venture in Kazakhstan as it ramps up its mining operations in the Central Asian nation that shares a border with China. Fast facts Nasdaq-listed The9 has signed an investment memorandum through a subsidiary…
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Bit Digital reports growing losses as it moves crypto miners from China to North America
Bit Digital, a New York-headquartered Bitcoin mining company that has had significant operations in China, recorded growing losses in the second quarter of this year as it continued relocating its China-based machines to North America. Fast facts In the second quarter of this year, Nasdaq-listed Bit Digital booked a net loss of US$1.34 million, compared…
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Liquid crypto exchange hackers use ETH mixer to evade detection
The hunt for hackers who stole an estimated US$97 million from the Japanese crypto exchange Liquid last week has hit some snags as the cybercriminals have been actively hiding their tracks with a crypto mixing tool as they move to transfer their loot into other wallets. Fast facts According to public blockchain information on Etherscan,…
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Taiwanese startup XREX raises $17 million to advance crypto payment services
XREX’s fundraise reflects Taiwan’s ambition to be part of fintech and blockchain innovation in spite of the island’s strict banking regulations.
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Binance taps former SGX chief regulatory officer as Singapore CEO
Binance Singapore today announced the appointment of Richard Teng, former chief regulatory officer of the Singapore Exchange (SGX), as chief executive, bolstering its leadership ranks with former regulators while battling growing regulatory woes around the world. Fast facts Teng was CEO of the Abu Dhabi Global Market for six years before stepping down in March.…
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As China cracks down on crypto, blockchain technology keeps flowering
Steelmaker Ansteel Group and lithium battery producer Tianneng are the latest companies to make use of blockchain in accordance with China’s national strategy.
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Binance imposes mandatory KYC for all services with immediate effect
Beset by legal and regulatory woes around the world, Binance — the world’s largest cryptocurrency exchange by trading volume — today announced that it is implementing mandatory know-your-customer (KYC) with immediate effect as it steps up its anti-money laundering (AML) compliance. Fast facts All new Binance users are now required to complete “intermediate verification” — which…