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The bond was auctioned off to holders of the digital yuan, a central bank digital currency (CBDC) developed by the Chinese government. Hua Xia Bank, a publicly traded financial institution linked to China’s government, issued 4.5 billion yuan ($600 million) in tokenized bonds on Wednesday, aiming to reduce clearing friction by removing intermediaries from the…
The People’s Bank of China reasserted the country’s crypto ban, claiming trading had reemerged and vowed to crack down on stablecoins. China’s central bank has flagged stablecoins as a risk and has promised to refresh its crackdown on crypto trading, which it has banned since 2021. The People’s Bank of China said on Saturday, after…
In an age when audiences are spoiled for choice across countless entertainment platforms, it’s no secret that cinema operators worldwide are feeling the heat. The numbers alone make for grim reading. When PwC released its annual media and entertainment outlook in July, the industry winced: U.S. cinema revenue, the firm predicted, would not return to…
Andy Konwinski is concerned that the U.S. is losing its dominance in AI research to China, calling the shift an “existential” threat to democracy. Konwinski is a Databricks co-founder and the co-founder of the AI research and venture capital firm Laude. “If you talk to PhD students at Berkeley and Stanford in AI right now,…
There’s something magical about stumbling upon an unexpected glow in a city park. Shanghai’s Century Park recently hosted one of those rare moments where art, architecture, and cultural tradition converge into something you can actually walk inside and experience. The Osmanthus Moon, a temporary installation by HCCH Studio, turned a semicircular lawn into an enchanted…
Bitcoin price fell to $109,200 despite the Federal Reserve confirming a 0.25% interest rate cut and the end of quantitative easing. Traders expect future rate cuts, so why is BTC falling? Key points: Bitcoin’s sell-off accelerated after the Federal Reserve cut rates by 25 basis points. Weakness in crypto shows traders are looking at macroeconomic…
Secretary Scott Bessent said the negotiations alleviate the need for the 100% additional tariffs announced by US president Trump in October. United States Treasury secretary Scott Bessent said on Sunday that the US and China have made “substantial” progress on a trade deal framework, sparking investor hopes of reigniting the bull market. The proposed trade…
Bitcoin and other hard money assets are the only way to fix the economic problems caused by currency debasement, analyst Luke Gromen said. The US dollar’s hegemony is over, as evidenced by China’s recent announcement of export controls on rare earth minerals, a critical component in electronics manufacturing and military defense applications, according to analyst…
The de-escalation of tensions and growing odds of a trade deal between the US and China are positive price catalysts for cryptocurrencies. United States President Donald Trump confirmed on Sunday that he is meeting with China’s President Xi Jinping at the Asia-Pacific Economic Cooperation (APEC) summit in Seoul, Korea, slated to begin on October 31….
Asked by reporters whether the US is preparing for a trade war with China, US President Donald Trump responded: “Well, we’re in one now.” US President Donald Trump has confirmed the US is in an active trade war with China after threatening a 100% tariff on all Chinese imports last week. “Well, we’re in one…