Economic Impacts
Covid restrictions drive some Chinese Web 3.0 firms to Singapore
A lack of certainty over future regulation and a long lockdown in Shanghai are pushing some Chinese Web3 companies to set up shop in Singapore.
Timmy Shen
Lens
China
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Regulation
Tether says USDT reserves have no Chinese commercial paper
Tether, the issuer of USDT, the world’s most traded stablecoin, said it doesn’t hold Chinese commercial paper in its reserves and it plans to reduce its commercial paper holdings overall. See related article: Tether slashes commercial paper, shows more reserves than liabilities Fast facts In a statement published on Wednesday, Tether said it “holds no […]
Timmy Shen
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Bitcoin News
Voyager gives Sam Bankman-Fried’s ‘low-ball’ bailout offer a single digit
Top blockchain and crypto news: SBF’s Voyager rescue deal spurned. Tesla pulls U-turn with BTC sale. Tencent cuts local NFT staff as it looks abroad.
Forkast.News
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NFT Marketplaces
Tencent to cut domestic NFT marketplace team, look overseas: report
Tencent will lay off an undisclosed number of staff on its mainland China non-fungible token (NFT) marketplace team and adjust the platform’s business strategy, as it prepares another NFT marketplace serving overseas users, sources close to Tencent said, Chinese financial media Caixin reported on Thursday. See related article: Tencent to shut Huanhe NFT marketplace: report […]
Ningwei Qin
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NFT Marketplaces
Tencent to shut Huanhe NFT marketplace: report
Tencent this week will shut down Huanhe, the Chinese tech giant’s non-fungible token (NFT) marketplace that has been operating for less than a year, according to unnamed Tencent sources cited in a report by Shanghai-based technology news outlet Jiemian on Wednesday. See related article: WeChat bans NFT accounts, citing ‘crypto speculation’ Fast facts Tencent has […]
Ningwei Qin
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Bitcoin News
Celsius bankruptcy deepens chill over crypto sector
Top blockchain and crypto news: Celsius plunges into Chapter 11. Otherside’s promised land. Mixed picture for Chinese NFTs.
Forkast.News
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Economic Impacts
Shanghai turns to metaverse, NFTs to counter lockdown economic fallout
China’s second-most populous city will introduce a three-year plan to promote the metaverse in the tourism industry, and encourage non-fungible tokens (NFTs) in the art and culture industry, as part of a recovery plan for the city’s economy. See related article: ‘Metaverse’ enters government radar at China’s Two Sessions Fast facts See related article: NFTs, […]
Ningwei Qin
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Advanced Blockchain Technologies
Animoca Brands poaches Tencent Insurance arm’s CEO Alan Lau
Tencent’s insurance business WeSure chief executive officer Alan Lau has officially joined Hong Kong-based blockchain and game venture Animoca Brands as chief business officer, Lau’s LinkedIn page showed on Tuesday. See related article: Tencent launches XR unit to develop ‘benchmark’ VR products Fast facts Lau will be responsible for managing all of Animoca Brands’ portfolio […]
Ningwei Qin
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NFT Marketplaces
Tencent shuts down one of its NFT marketplaces
Launched in January, Tencent News’ NFT marketplace was shut down, citing the need to “adjust” and “transform” the business. See related article: China’s diktat against NFT flipping spawns an ingenious industry Fast facts Wang Shimu, former head of Tencent News, left the news division in May and was reassigned to Tencent’s NFT arm Huanhe due […]
Ningwei Qin
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Regulation
Chinese logistics network plans US fundraise via tokenized offerings
HGC Info Tech (HGC) announced Tuesday that it will start offering its securities tokens at U.S. digital asset exchange INX, as Chinese firms face delisting risks in the states due to regulatory differences. See related article: SEC places Chinese crypto mining rig maker Canaan on pre-delisting list Fast facts Xiamen-based HGC provides order matching and […]
Ningwei Qin
