Crypto at the Olympics: NFT skis, Bitcoin bobsledders and CBDC controversy
Bitcoin and nonfungible tokens are all over the Olympics this year while China’s CBDC is there too amid a controversial rollout. The 2022 Winter Olympics, officially called the XXIV Olympic Winter Games, kicked off on Feb. 4 in Beijing with crypto being a major part of the event, partly because of the Chinese government’s digital currency ambitions.The cryptocurrency community hasn’t had strong ties to the Olympics over the last few years. The last major headline-grabbing interaction was when the Dogecoin (DOGE) community helped fund the Jamaican bobsled team in 2014 so they could attend....
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In commiseration of the Tokyo Olympics, which started July 23rd, Phemex brings their own version of the Olympics. The Phemex trading Olympics values align with those of the actual Olympics, which accepts people of all walks of life. Integrating sports and crypto trading, Phemex presents the “Phemex Olympics: United Through Trading.” The Phemex Olympics: United […]
Foreign users tend to use hardware e-CNY wallets more at the Olympics, while domestic users mainly go for software wallets. The 2022 Winter Olympics participants, visitors and organizers could be spending more than $300,000 in China’s digital yuan every day, according to new reports citing officials from the People’s Bank of China.The e-CNY, China’s central bank digital currency (CBDC), is being used to make 2 million yuan ($316,000) or more worth of payments each day, PBoC’s Digital Currency Research Institute director-general Mu Changchun said. The official provided the data during a....
China wants to allow foreign athletes and visitors to use the county’s digital currency during the Beijing Winter Olympics in 2022. China’s central bank is looking to enable foreign athletes and visitors to use the country’s digital currency during the Beijing Winter Olympics in 2022, according to a top central bank official.Li Bo, deputy governor of the People’s Bank of China, said that the upcoming Winter Olympics could potentially become the first test of China’s central bank digital currency, or CBDC, by foreign users.“For the upcoming Beijing Winter Olympics, we were trying to make....
Cryptocurrency exchange Phemex has announced it is hosting an Olympics competition for traders. The competition will give traders a chance to earn rewards based on their trading volume and return on investments (ROI). The competition is scheduled to start at the end of July on the 30th. Kick-off time has been placed at 8 AM UTC. The Olympics will run for two weeks until August 13th at 8 AM UTC. Check the Phemex Olympics website to register and monitor your progress. Phemex has decided to take a page from the playbook of the Tokyo Olympics, which was recently kicked off. They’re giving....
"Do not accept any digital yuan," said Minnesota Representative Tom Emmer in a tweet aimed at Team USA athletes competing in China. With the opening ceremony of the Beijing 2022 Winter Olympics completed and all competing athletes currently in China, two members of Congress are warning of the potential dangers of using digital yuan at the events.According to a Friday report from Reuters, Pennsylvania Senator Pat Toomey sent a letter to Secretary of State Antony Blinken and Treasury Secretary Janet Yellen on Thursday expressing concern that the Chinese government could use the games to....