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China tokenized yuan development has actually reached a breakthrough as ChinaAMC launches the world’s first yuan-denominated tokenized money market fund. This China tokenized yuan initiative represents a major step in China’s de-dollarization push, and it’s offering digital yuan investment opportunities through an innovative ChinaAMC blockchain fund structure that’s being watched closely right now. China’s Tokenized Yuan Fund Fuels Digital Shift and De-Dollarization Source: Ledger Insights Revolutionary China Tokenized Yuan Launch China Asset Management Hong Kong, which is actually a subsidiary of China’s second-largest fund manager with over $400 billion in assets, has officially launched this pioneering tokenized money market fund. The ChinaAMC blockchain fund addresses the yield gap in stablecoin holdings and it’s also supporting China’s de-dollarization push in a big way. Tian Gan, CEO of ChinaAMC Hong Kong, stated: “Our tokenise...

China has been very open about its de-dollarization agenda. While the BRICS bloc of nations has expressed a desire to move away from a US dollar-based global system, none has been more steadfast than China. The nation has been pushing to make the yuan a global currency. The Chinese Communist Party (CCP) has even achieved substantial success for its efforts. China’s De-Dollarization Initiatives Taking Hold Source: Watcher.Guru China’s strategic movements have stealthily placed the yuan as a competitor to the US dollar in global trade. China’s de-dollarization initiatives have substantially put a question mark on the US dollar’s dominance. The yuan has seen a significant increase in global trade settlements over the last decade. The figure is only expected to rise over the coming years. Earlier this year, it was revealed that China has signed 40 currency swap agreements with foreign banks. The move further sheds light on how fast the country is moving away from the...

In what is yet another critical development of the ongoing trade conflict, China has announced it will waive its 125% tariff on US ethane imports. Indeed, the nation had enacted the waiver earlier this month to ease pressure placed on Chinese companies, sources told Reuters. The waiver is yet another facet of the ongoing tariff war taking place between both sides. Amid increased uncertainty, the global economy is looking for any signs of de-escalation between both sides, with worries of a US-China trade war brewing. JUST IN: China removes 125% tariff on US ethane imports. — Watcher.Guru (@WatcherGuru) April 29, 2025 Also Read: Bessent: China Must Act to End Trade War—Tariff Relief Hinges on Beijing China Expands Tariff Exemptions on US Imports as Trade War Fears Persist Since early April, the world has been confronted with growing geopolitical tensions between the United States and China. The former announced a sweeping America-first tariff plan on nearly all countries. Subsequently, ...

China could inadvertently spark a Bitcoin (BTC) price crash as reports emerge that local governments are offloading their stash of seized assets despite a nationwide cryptocurrency trading ban. If these sales accelerate, the market could face a flood of supply, triggering volatility and potentially a price drop reminiscent of the 2021 crash that followed China’s cryptocurrency trading ban. Simply put, dumping large quantities of Bitcoin onto the market could create a supply influx, overwhelming demand, and driving prices down. China ranks as the world’s second-largest Bitcoin holder after the United States, with approximately 194,000 BTC, valued at $16 billion. On the other hand, by the end of 2023, local governments reportedly held around 15,000 BTC, worth $1.4 billion, accumulated through criminal seizures.  Now, these assets are being sold through private firms, some of which have facilitated billions in sales since 2018, with proceeds converted to yuan ...

With geopolitical tensions rising, the United States and the global economy appear to be in a concerning position amid an ongoing tariff war. Speaking to the Financial Times today, JPMorgan CEO Jamie Dimon called on the US to engage with China and end the trade war. US President Trump noted that Dimon’s comments were influential in his 90-day pause of the administration’s Liberation Day tariff plan. However, the pause did not extend to China, which is now facing a 145% import duty in what officials have called “extremely shameless.” JUST IN: JPMorgan CEO calls on the US to engage with China to end the trade war. — Watcher.Guru (@WatcherGuru) April 15, 2025 Also Read: JPMorgan CEO: Recession is ‘Likely Outcome’ of Trump Tariffs JPMorgan CEO Speaks on US-China Trade War, The Need for Engagement In early April, the United States announced a sweeping global tariff plan in an effort to balance trade. Although that has since been paused, the move represented an increas...

In a rather surprising development for the country on the brink of a trade war, US President Donald Trump has announced a 90-day pause on his Liberation Day tariff plan. Indeed, Trump took to his Truth Social platform to share that he authorized a halt on the plan for at least some affected countries. The move orchestrated a monumental turnaround for the US stock market. Specifically, the announcement drove the Dow Jones Industrial Index to jump more than 2,400 points. Moreover, companies like Tesla (TSLA) and Nvidia (NVDA) saw shares skyrocket as much as 12% and 10%, respectively. BREAKING: President Trump authorizes 90-day pause on tariffs. — Watcher.Guru (@WatcherGuru) April 9, 2025 Also Read: China Announces Additional 84% Tariff on US Goods Trump Authorizes Tariff Pause as Stock Market Explodes Although we are just three months into the year, the United States has not had the greatest start to 2025. As US President Donald Trump announced a Liberation Day tariff plan, the US stock...

As the BRICS bloc continues its de-dollarization efforts, Saudi Arabia is reportedly considering the adoption of the petroyuan for oil settlements, thereby ditching the petrodollar. The Minister of Industry for Saudi Arabia has said that the nation is open to trying “new things,” in regards to its cooperation with China. Riyadh has had a relatively confusing relationship with the BRICS bloc. Although it had initially accepted an invitation to be included in its 2023 expansion, the nation has yet to join. Yet, the country has received an invitation to the Alliance 2024 summit and is seeking an increased relationship with China. JUST IN: Saudi Arabia says it's open to using the petroyuan for oil settlements. Will Saudi Arabia officially ditch the petrodollar? pic.twitter.com/MJXS9kJUbI — BRICS News (@BRICSinfo) September 11, 2024 Also Read: How Much Oil Reserves Does Saudi Arabia’s Aramco Hold? Saudi Arabia ‘Open’ to Oil Settlements in the Chinese Yuan, Off...

Chinese virtual bank ZA Bank has revealed plans to offer crypto trading services with fiat currencies to retail customers. In an interview with the Hong Kong Economic Journal, ZA Bank CEO Ronald Iu said the Hong Kong-based company eventually plans to start offering crypto trading services with fiat via its mobile application ZA Bank App, although he did not provide a timetable. The ZA Bank CEO noted that the company is set to double down on web3, as the virtual bank has already provided commercial banking services to over 80 crypto firms, including OKX’s branch in Hong Kong. In addition to OKX, ZA Bank is also a banking partner for local licensed virtual asset trading platforms HashKey and OSL. Since its inception in 2020, ZA Bank has undergone an expansion of its customer base, reaching a milestone where one in ten adults in Hong Kong now owns a ZA Card. Ronald Iu also said that as of the end of June, customer deposits have surpassed 10 billion yuan (~$1.4 billion), marki...

The deployer account for LSC drained over $1 million in tokens from the project, then swapped them to BUSD using PancakeSwap. The astrology-themed NFT project Lucky Star Currency (LSC) has performed an exit scam for over $1 million, according to an October 9 report from blockchain security firm Certik. The project ’s deployer account called the ‘withdrawToken’ function on both the NFTMerge and AdwardCenter contracts, removing over $1 million in LSC from them. These tokens were then swapped for Binance USD (BUSD) stablecoin and sent to another account. #CertiKSkynetAlert We can confirm an exit scam on @AstrAstrol75591 LSC token Bsc: 0x2b3559c3DBdB294cbb71f2B30a693F4C6be6132d EOA 0x9Ef withdrew LSC tokens from the AwardCenter contract. Tokens were then sold for $1.1mhttps://t.co/sy7vFfqhf5 — CertiK Alert (@CertiKAlert) October 9, 2023 Lucky Star Currency is a project that focuses on NFTs and claims to be founded by astrologists. Its contracts include an Award Center and NFT Mar...