Shanghai Man: CZ is wealthiest Chinese person with $90B, NFT yachts, and Mono...
This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industrys most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations.Top of the food chainThis probably wont come as a surprise to anyone in the crypto industry, but Binance founder CZ has been crowned the richest Chinese person in the world. The list appeared in Caijing Magazine, a financial publication based in Beijing. CZ was credited as having a net worth of around $90 billion, a huge jump over former richest Chinese man....
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The International Monetary Fund (IMF) recently released the latest results for the world economy. And when you measure national economic output in "real" terms of goods and services, China will this year produce $17.6 trillion - compared with $17.4 trillion for the U. S., Market Watch reports. The U. S. had the world's highest economy since 1872. In 2000, the U. S. A. produced nearly three times as much as the Chinese. China now accounts for 16.5% of the global economy when measured in real purchasing-power terms, compared with 16.3% for the U. S. China's Gross Domestic Product (GDP)....
A disappointing week of exploits has put a temporary grim cloud over the end of 2021, with BadgerDAO and Huobi-listed MonoX suffering major losses. More than $150 million has been lost this week in separate security breaches at DeFi projects MonoX and BadgerDAO.Multi-chain decentralized exchange (DEX) MonoX (MONO) suffered a cyber attack on Nov. 30 leading to about $31 million in losses. BadgerDAO (BADGER) suffered a front-end attack that was discovered on Dec. 2 with estimates of Badger’s losses hitting more than $120 million. The MonoX DEX platform suffered a single attack on Nov. 30. In....
Another Finland based company that rents luxury yachts, NAMI, has integrated Bitcoin as a payment option. Miika Toivonen from Luxury Collection by Auto-Outlet has already sold Tesla electric cars and other premium-cars with Bitcoin and is willing to extend Bitcoin payments as a part of his other businesses as well, this time, luxury yachts. Miika Toivonen, Director of NAMI, says: “We’re always willing to take part on everything that is new, like selling Teslas with Bitcoin, so why cant we also rent yachts as well. So far we’ve sold a nice amount of Tesla electric cars around Europe, so I....
Following the interview with Ma Changchun, the head of the People’s Bank of China-run Digital Currency Research Institute, a recent report indicates that residents from Beijing and Shanghai can now apply for a digital yuan wallet. According to the report, six different Chinese banks will participate in the process. Beijing and Shanghai Residents Can Apply to Test the Digital Yuan Wallet A recent report published by China’s Securities Times, explains that residents from China are now able to apply for the digital yuan wallet. The wallet is compatible with the People’s Bank....
There has been much conjecture on the role China has played in the rise and fall of Bitcoin’s price. Most in this space recognize that China has been leading the Bitcoin marketplace in terms of trading and volume. If this is the case, perhaps looking through some charts would shed some light on where Chinese money is flowing. Below is a chart comparing the Shanghai Composite with the price of Bitcoin. First, let’s look at the month of July, where the Shanghai composite started its rally, while Bitcoin topped out after making a rally of its own in the wake of the Mt. Gox debacle. In mid....