It’s been a great 24 hours for BABY BEERCOIN (BBEER) holders. The coin’s price has rocketed over 100% in the past day, now hovering around the .00066 level. However, an even quirkier meme coin called WienerAI (WAI) is also doing well – and just passed the million milestone in its token presale event. BABY […]
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Binance CEO Claims Chinese Communities Are ‘Buzzing’ After CCTV Airs Crypto Segment
On May 24, Binance CEO Changpeng Zhao, also known as CZ, shared through Twitter that “Chinese speaking communities are buzzing” following a news broadcast by state-operated media network China Central Television (CCTV) regarding Hong Kong’s latest cryptocurrency-focused regulatory policy.
CCTV’s Coverage of Hong Kong’s Crypto Regulations Sparks Excitement, Says Binance CEO; Nanxin University Launches Metaverse Platform
This week CZ emphasized that the coverage of cryptocurrencies by CCTV is significant, especially considering that crypto asset businesses were prohibited in China in September 2021. The Binance boss stated: “CCTV (China Central Television) just broadcasted crypto — It’s a big deal — The Chinese speaking communities are buzzing. Historically, coverages like these led to bull runs.” He also noted that he wasn’t suggesting the “past predicts the future” and his statement was “not financial advice.”
The specific CCTV segment CZ referred to centers on Hong Kong‘s regulatory approach for virtual asset service providers (VASPs). These entities must comply with the regulations by June 1, 2023, and the rules do not reflect a “light-touch regulation” philosophy. Following CZ’s comment, one Twitter user observed: “It is not necessarily a bull market when there are Chinese people involved, but it is definitely not a bull market when there are no Chinese people involved.”
CZ admitted he could not dispute this observation. In addition to the CCTV report, Nanxin University established the China Metaverse Technology and Application Innovation Platform just two days prior. The university’s president Li Beiqun expressed enthusiasm about metaverse development, asserting that the metaverse platform would promote progress in metaverse-related fields.
During the event, metaverse platform creators unveiled an augmented reality (AR) map of their platform. It was also mentioned that the China Metaverse Technology and Application Innovation Platform is part of the government-supported China Industry-University-Research Cooperation Promotion Association initiative. However, following last year’s metaverse hype wave, interest in the concept has been overshadowed by attention toward artificial intelligence (AI) software such as Openai’s chatgpt.
What are your thoughts on CCTV’s coverage of Hong Kong’s crypto regulations and Nanxin University launching a metaverse platform? Share your thoughts and opinions about this subject in the comments section below.
A New Cryptocurrency Has Everyone Buzzing in Mongolia – 10 Million USD Within 30 Seconds
“Decentralized finance is the future. Cryptocurrency helps people live in a community without the traditional middleman expenses. It provides equal opportunities for everyone.” – Ider-Od, co-founder of IHC.
Mongolia is a landlocked developing country, sandwiched between two giant neighbors – China and Russia, located in the center of the Asian continent, far away from seas, oceans, and most importantly, from international trading networks. It is also the 17th largest country by its territory, with a land richly endowed with natural resources. Nevertheless, its unfavorable geographical position has prevented the country from becoming an export-oriented economy and achieving sustainable economic growth. Moreover, Mongolia’s economy, which is the 132nd largest based on its gross domestic product, has experienced the worst setback since its economic transition in the early 1990s due to the strict COVID-19 restrictions imposed by the government over the past two years.
Five entrepreneurs, Ider-Od Bat-Erdene, Erkhembayar Byarsaikhan, Gantig Bayarmagnai, Munkhjin Otgonbaatar, and Munkh-Erdene Burenjargal, are seeking innovative solutions for achieving economic growth and alleviating poverty by making cryptocurrency the main driving force for generating and bringing wealth into the country.
“Cryptocurrency is borderless. It is the key solution for countries like Mongolia for tackling economic issues. We want to empower the powerless by keeping big money, government, and federal banks in check to provide equal opportunities for everyone.” – Gantig, co-founder of IHC.
With over 100 billion token orders fulfilled after its launch at 11 a.m. on August 25, the Inflation Hedging Coin (IHC), a new cryptocurrency created by tech-savvy entrepreneurs, broke the internet. Within just 30 seconds, thousands of enthusiasts invested 10 million USD in the newly created tokens, making it one of the fastest-selling cryptocurrencies in the world.
IHC released 100 billion tokens with 25 billion equally placed on four different cryptocurrency exchanges: coinhub.mn, trade.mn, complex.mn, and dax.mn. IHC has a total supply of one trillion coins, of which 100 billion are now publicly owned. It took only 11 seconds on DAX, 43 seconds on Coinhub, 1 hour on Complex, and Trade for people to buy up all the available tokens, with two of the platforms crashing and overwhelmed by over 100 thousand visitors.
Based on blockchain technology, Inflation Hedging Coin aims to introduce an ecosystem of financial services, including seamless transactions. IHC founders share a vision for creating a decentralized solution to combating inflation.
Image by jorono from Pixabay
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