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Our Man in Shanghai: Huobi looks to become Grayscale of Asia, Yao Ming’s NFT wine, and Chinese crypto investors go to the dogs

April 30, 2021. Summarized by summa-bot.

Compression ratio: 30.2%. 1 min read.

Huobi chasing institutional clients, basketball star Yao Ming auctions off NFTs paired with wine bottles, and a large number of influential Chinese tech companies supporting the digital yuan

The funds include a Bitcoin Fund, an Ethereum fund, a multi-asset basket of digital currencies, and a private equity fund for mining businesses.

The fund and asset management company is set up in Hong Kong, even though Huobi maintains several offices within the mainland.

Shiba, another dog-themed memecoin, was also popular with Chinese exchanges MXC, Gate, Hotbit, LBank and Hoo. These five claimed the top spots for centralized exchanges by volume on April 29th.

After five proposed class action lawsuits against crypto companies were dismissed in New York federal courts, a number of blockchain projects, including Tron, will be sleeping a little easier.

E-commerce giant JD. com announced it had been paying some of their staff salaries with DCEP, China’s central bank digital currency.

Ant Group and Tencent, the companies that own the two largest private payment processors in the country, are included in the project.

This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations.

by summa-bot

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