News
Alibaba’s global e-commerce arm is reportedly developing a bank-backed deposit token for cross-border payments as Beijing tightens its crackdown on stablecoins.
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China Crypto News
China, a global economic powerhouse with the world’s largest population, drives significant global trade marked by rapid industrialization and economic growth. China once served as a center for crypto trading and had a vibrant ecosystem of exchanges. However, in 2017, the Chinese government outlawed domestic cryptocurrency exchanges and initial coin offerings (ICOs) because of concerns about financial stability.
China intensified its regulations in 2021 by focusing on crypto mining — once a massive industry in the nation — citing concerns about speculative risk, financial stability and energy usage. Despite its hardline stance on cryptocurrencies, China is actively pursuing blockchain technology adoption across various sectors, including finance, supply chain and urban planning.
Blockchain parks and incubators have been established in various provinces and towns to aid new businesses and established firms specializing in blockchain technology. With its Digital Currency Electronic Payment system — a state-backed digital currency managed by the People’s Bank of China — China is at the forefront of central bank digital currency development. China wants to internationalize its currency and lessen reliance on the United States dollar in international trade and finance, and its CBDC, the digital yuan, is a component of that effort.
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After announcing the “largest forfeiture action” in the history of the DOJ, the US faces questions about how it accessed the over 127,000 Bitcoin stolen from the LuBian mining pool.
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The Chinese budget AI model QWEN3 was the only one to generate positive returns, while its more heavily funded competitors returned significant losses.
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The FTX Recovery Trust dropped a motion to limit payouts to creditors in countries including China, which holds about $380 million in claims.
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HyperUnit, the whale that made $200 million from the US-China tariff crash last month, is now betting on a rebound in Bitcoin and Ether, opening $55 million in long positions.
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Trump again denied ties to Binance co-founder CZ amid reports that the exchange helped facilitate a $2 billion stablecoin deal linked to his World Liberty Financial platform.
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Crypto prices remain depressed due to macroeconomic and geopolitical uncertainty, despite interest rate cuts and positive trade news.
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Bitcoin continued to drop to new lows on Thursday despite every bullish outcome that traders had forecast being confirmed.
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A Chinese blockchain event was reportedly cut short on Tuesday due to overcrowding, but some attendees expressed concerns over the country's recent crackdowns.
2984 - Market Analysis
Bitcoin price fell to $109,200 despite the Federal Reserve confirming a 0.25% interest rate cut and the end of quantitative tightening. Traders expect future rate cuts, so why is BTC falling?
7129 - Market Analysis
Bitcoin hit resistance at $116,000; bulls might not clear the barrier until Wednesday’s Fed announcement on interest rates and this week’s resolution of the US-China trade war.
3952 - Price Analysis
Bitcoin and several major altcoins have started a strong recovery, but the relief rally is expected to face significant headwinds near major overhead resistance levels.
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Ant Group filed to trademark “Antcoin” in Hong Kong through a Cayman Islands subsidiary while Beijing intensifies its crypto crackdown.
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Growing optimism surrounding a potential trade deal is the main catalyst for a recovery in investor sentiment ahead of Thursday’s tariff meeting, industry watchers told Cointelegraph.
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Secretary Scott Bessent said the negotiations alleviate the need for the 100% additional tariffs announced by US president Trump in October.
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