Nexchip begins trading in Hong Kong after raising $890M in share sale

The post PBOC sets USD/CNY reference rate at 6.7989 vs. 6.8036 previous appeared on BitcoinEthereumNews.com. On Friday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7989 compared to the previous day’s fix of 6.8036 and 6.7931 Reuters estimate. PBOC FAQs The primary monetary policy objectives of the People’s Bank of China (PBoC) are to safeguard price stability, including exchange rate stability, and promote economic growth. China’s central bank also aims to implement financial reforms, such as opening and developing the financial market. The PBoC is owned by the state of the People’s Republic of China (PRC), so it is not considered an autonomous institution. The Chinese Communist Party (CCP) Committee Secretary, nominated by the Chairman of the State Council, has a key influence on the PBoC’s management and direction, not the governor. However, Mr. Pan Gongsheng currently holds both of these posts. Unlike the Western economies, the

Zhipu's limited increase in tradable shares highlights challenges in liquidity expansion, impacting investor confidence and market dynamics. The post Zhipu’s $4B Hong Kong placement barely moves the needle on tradable shares appeared first on Crypto Briefing.

The post Operation First Light 2026 Hits Crypto Launderers, 5,811 Arrested appeared on BitcoinEthereumNews.com. INTERPOL coordinated arrests across 97 countries in a four-month anti-fraud operation. Authorities intercepted $293 million in fiat and crypto assets. One Thai suspect’s wallet processed over $122.5 million in romance scam proceeds. China’s Ministry of Public Security funded the operation, raising political questions. INTERPOL announced on July 9 that Operation First Light 2026, a coordinated anti-fraud campaign involving 97 countries and territories, produced 5,811 arrests and intercepted $293 million in illicit assets between January 15 and April 30. The operation targeted social engineering fraud, the family of scams that manipulates human trust rather than software vulnerabilities, along with the laundering infrastructure that moves the proceeds. Investigators identified over 142,000 victims worldwide in a four-month window, and the recovered funds cover only a small frac

INTERPOL coordinated arrests across 97 countries in a four-month anti-fraud operation. Authorities intercepted $293 million in fiat and crypto assets. One Thai suspect’s wallet processed over $122.5 million in romance scam proceeds. China’s Ministry of Public Security funded the operation, raising political questions. INTERPOL announced on July 9 that Operation First Light 2026, a coordinated [...]

China's debt refinancing plan could stabilize local economies, but persistent high debt levels and fiscal pressures may limit broader benefits. The post Chinese provinces approach milestone in debt refinancing plan appeared first on Crypto Briefing.

The post Chinese Yuan: Fixing guidance fades, path less anchored – OCBC appeared on BitcoinEthereumNews.com. OCBC’s Christopher Wong observes that Renminbi (RMB) appreciation guidance is waning, with CNH-CNY fixing gaps narrowing and daily adjustments moderating. Policymakers appear to be shifting toward RMB stability rather than further appreciation. As a result, USD/CNH may become more driven by the broader Dollar, yield differentials and China growth sentiment, leaving downside less anchored. Stability focus shifts USD/CNH drivers “The RMB appreciation impulse appears to show tentative signs of losing some official reinforcement. The CNH-CNY fixing gap has narrowed, while the pace of daily fixing adjustment has moderated.” “Recent fixes have also been less RMB-supportive versus market expectations (Bloomberg proxy), suggesting that the policymakers may be shifting back toward RMB stability management rather than guiding for further appreciation.” “If fixing guidance continues to fad

The post UKey unveils the Seed Ring: Bringing hardware signing into everyday life appeared on BitcoinEthereumNews.com. As a wearable, lifestyle-first hardware signing brand, UKey reimagines crypto backup and recovery with a battery-free NFC ring. Hong Kong, July 10, 2026 – Ukey Limited, a self-custody hardware brand for crypto users, today revealed the Seed Ring, the most distinctive product in its Seed backup line: an NFC recovery ring you can wear every day. Unlike hardware wallets built to be locked away in a drawer, UKey set out to do something different from day one – to make hardware signing and self-custody something you can wear and fold into daily life. The Seed Ring is the first expression of that idea. It will debut alongside UKey’s first product lineup, with availability details to be announced soon. Why a ring In self-custody, what usually decides whether your assets stay safe isn’t how you sign – it’s how you store your seed phrase. Photos, screenshots, and scraps of pape

The post China AI token use explodes to 140 trillion daily with rising western share appeared on BitcoinEthereumNews.com. China’s use of artificial intelligence has surged faster than expected, with daily AI token usage rising more than 1,000-fold in just over two years. The growth is also expanding into Western markets. According to China’s National Bureau of Statistics, daily AI token usage increased from 100 billion at the start of 2024 to 100 trillion by the end of the year, reaching over 140 trillion by March 2025. That’s roughly 100,000 tokens per person across China’s 1.4 billion population. Tokens are the small units of text and data that AI models use to process and generate content, forming the basis of everything from chatbot responses to AI-generated videos. Industry experts in China say token use has grown so large that it is becoming the basis of a whole economy, with AI services increasingly bought, sold, and priced by the token. Chinese models gain ground in the West Ch