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Shanghai Man: RMB stablecoin in Shanghai, Evergrande FUD, and FTX gains ground

Published 09/23/2021, 11:16 AM
Updated 09/23/2021, 08:20 PM
Shanghai Man: RMB stablecoin in Shanghai, Evergrande FUD, and FTX gains ground

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.

This week, the word “Evergrande” found its way into the vocabulary of every western investor. After years of watching the corporations football team on TV and drinking its bottled water, Crypto Twitter (NYSE:TWTR) was the last place the Man in Shanghai expected to find it. After facing debts of over $300 billion, all types of rumors swirled, leading its Hong Kong-listed shares to drop 80% and a massive crypto sell-off early in the week.

Misreading their tea-leaves

RMB on the blockchain

CNHC’s website advertises a compliant take on RMB-denominated DeFi

Asias largest custodian on the rise

FTX gains ground on Huobi

The competition for that fourth spot got a lot tighter this week. Source: FTX Volume Monitor

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