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.
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Justin Sun Rejects Huobi’s Insolvency Rumors, Says the Exchange Will ‘Thrive’
Tron’s founder Justin Sun urged people to ignore the rumors that the cryptocurrency exchange Huobi is coping with severe problems following the alleged detention of some of its executives. The…
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.
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.
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.
Mixed signals: Binance denies reports of $90B in crypto trades in China
Binance has refuted claims published in The Wall Street Journal that the exchange has conducted billions of dollars in crypto-related business in China, despite the country’s crypto ban.
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.
Digital yuan integration introduced to Chinese business air travel
The Civil Aviation Administration and China Merchants Bank said passengers can utilize the central bank digital currency to access new services via this platform.
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.
China could benefit from yuan stablecoin over its CBDC – Circle CEO
China may have banned the use of cryptocurrencies but stablecoins might have a role to play in the proliferation of its national currency.
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