China
Ant Group Confirms It Is Helping China With the Digital Yuan
Jack Ma's Ant Group confirmed that it has been working on the digital yuan project with China's central bank since at least last year, providing the People's Bank of China access to its database technology and payment tools. Nik De breaks it down. Plus, the House passes the first major crypto-specific legislation aimed at breaking down barriers to innovation.
Ant Group Shares Exclusive Database Tech to Grow China’s E-Yuan
Internet giant Ant Group, which owns mobile payment leader Alipay, says it will offer technical support to help China roll out its digital currency. JD.com, a leader in China’s e-commerce space, reveals that it’s started paying some employees with the DCEP.
Ant Group Has Been Working With China’s Central Bank on Its CBDC Since 2017: Report
The Alibaba-affiliated company disclosed the information over the weekend at the Digital China Summit in Fuzhou.
Bitcoin’s Outlook for Next Week
By some estimates, bitcoin’s price next week may range from the mid-$50Ks to as low as $29K. “All About Bitcoin” discusses bitcoin’s possible outcomes next week. Plus, an update on the China bitcoin mining situation and a discussion of how institutional investors are responding to the dip.
The Future of Money Is Unbundled
Money's three social functions – storing value, exchanging it and providing a unit of account – are unraveling, with dramatic implications, says EYQ's Insights Director.
Chinese Crypto Miners Face Unstable Regulatory Environment
Tightening regulations have unnerved some crypto miners in China.
ASEAN+1 Pledge to Advance Blockchain; PayPal to Launch Wallet in China
Blockchain and fintech groups in five ASEAN countries and Australia sign memos to advance blockchain innovation together. The consortium hopes to engage regional regulators as blockchain draws more attention from institutions. PayPal announces plans to launch a new domestic wallet in China, with a focus on cross-border payments.
How a Chinese Mining Accident Caused a Bitcoin 'Flash Crash'
Blackouts in China caused by coal plant accidents have been blamed for knocking out the world's biggest bitcoin mining operation in Xinjiang and cutting the global hashrate by nearly 50%. But despite the panic, the Bitcoin network continued to function normally. Jason Les of Riot Blockchain joins "First Mover" to discuss the resilience of the Bitcoin network.
During Bitcoin's Latest Price Crash, 'Tether Premium' Shows Where Money Went
The stablecoin's price in dollars surged during the recent market correction to the highest since the "Black Thursday" sell-off in March 2020.
What's Scaring the Bitcoin Markets?
Bitcoin's price has been relatively stagnant after taking a nosedive over the weekend due to Twitter rumors and a series of mining accidents in China that impacted the hashrate. What's scaring the markets? Charlie Morris of ByteTree joins "First Mover" to share his thoughts on what's impacting the price of bitcoin and why dogecoin is spiking.
