The digital yuan’s highest profile tests began in Shenzhen in September, when city officials held a lottery, giving away $1.5 million in 50,000 in “digital red envelopes” containing 200 yuan—about $30—usable at 4,000 merchants who signed up to accept the digital yuan. That and subsequent tests have been called wildly successful by People’s Bank of China Governor Yi gang.
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Chain is capturing more blockchain and cryptocurrency investment at the expense of the U.S (Photo: CDC Group).Go East: Crypto funding shifting from US to China, report says
In 2015, just 2% of cryptocurrency and blockchain deals were for Chinese companies. Fast forward four years to 2019, and the figure soared to 22%
In it Blockchain Report 2020, CBInsights said 51% of deals in the industry were for US-based companies four years ago, while only 2% was earmarked for Chinese businesses. According to the latest figures, China’s share of deals is 22% in 2019, while America’s share dwindled to just 31%.
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Was China’s digital yuan behind Binance’s Shanghai office closing?
The November closure of a Shanghai office connected to a major crypto exchange may have presaged a broader crackdown as China prepares to launch a virtual currency
The high-profile closing of a Shanghai office used by the Binance exchange in late November appears to have been an early example of China’s latest crackdown on cryptocurrency trading.
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Must-reads for August 22, 2018
Here are the crypto stories you should be watching today
Bitcoin just spiked by $300 in one minute when a big trading platform went offline (Business Insider) BitMEX went offline for a little bit so, of course, bitcoin prices rallied overnight. The exchange is now back online. In unrelated news, Tether granted $100 million of its “stable coin” tokens to its related exchange, Bitfinex. Bets Against Bitcoin’s Price Are Nearing Record Highs (CoinDesk) Short orders on Bitcoin are just 1,200 or so away from their record, according to data from Bitfinex. That means a lot of people are particularly bearish. It’s also an opportunity for a short squeeze. Such a squeeze could occur if someone had access to unlimited…
