Japanese startup to use stablecoins and CBDC to link Asian countries
Soramitsu is developing a cross-border payment system that uses Cambodia’s CBDCs and targets Japan, India, China and Southeast Asia. Go to Source
China
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Weekend Wrap: Celsius’ Mashinsky fraud suit is on, Tether class suit dismissed and more
The former Celsius CEO has been denied a lawsuit dismissal, Tether celebrates a minor court victory and China vows to crack down on telecoms fraud using crypto and AI. Go to Source
Huobi’s TVL drops to $2.5B amid rumors of insolvency, investigations in China
The exchange faces ongoing rumors about its stablecoins reserves and an alleged investigation by Chinese authorities. Go to Source
Alibaba releases two open-sourced AI models to rival Meta’s Llama 2
The Chinese tech and e-commerce giant Alibaba revealed two new open-sourced AI models, Qwen-7B and Qwen-7B-Chat, to rival Meta’s recently-launched Llama 2. Go to Source Powered by WPeMatico
Mixed signals: Binance denies reports of $90 billion in crypto trades in China
Binance has refuted claims published in the Wall Street Journal that despite China’s crypto ban, the exchange has conducted billions in crypto-related business in the country. Go to Source Powered by WPeMatico
Chinese city implements plan for blockchain digital infrastructure system by 2025
The government of Shanghai has implemented its strategic plan for the development of its urban blockchain digital infrastructure system between the years 2023-2025. Go to Source Powered by WPeMatico
U.S. Senate wants companies to report investments in Chinese technologies
The Senate showed overwhelming support that would require U.S. companies to report any outbound investments into Chinese technologies. Go to Source Powered by WPeMatico
Digital yuan integration introduced to Chinese business air travel
The Civil Aviation Administration and China Merchants Bank said passengers will be able to utilize the digital currency to access new services via this platform. Go to Source Powered by WPeMatico
Hong Kong would not go crypto without China’s approval: Animoca exec
China looks at Web3 as a powerful tool to challenge the United States’ technological and economic hegemony, Animoca co-founder said. Go to Source Powered by WPeMatico
Bitcoin price falls under $30K as macro and regulatory worries take center stage
As investor’s euphoria over Bitcoin subsides, regulatory and macroeconomic headwinds resurface to negatively impact BTC price. Go to Source Powered by WPeMatico