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news๐ซฅ
1. China Eyes Yuan-Backed Stablecoins to Boost Global Currency Usage
China is considering approving yuan-backed stablecoins this month to internationalize its currency and compete with dollar dominance. Implementation is expected in Hong Kong and Shanghai.
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2. Bitcoin Drops ~8%, Ethereum Gains in Last 24 Hours
Over the past week, Bitcoin declined nearly 8% to around $113K, while Ethereum rose approximately 3% in a single day to about $4,289. Analysts note cautious optimism with potential early signs of recovery.
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3. Asian High-Net-Worth Investors Increase Crypto Allocations
Wealthy family offices and investors in Asia are boosting crypto exposure amid favorable regulatory environment and strong prior returnsโsome targeting crypto as 5% of their portfolios.
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4. Bitcoin & Altcoins Mixed; Meme Coin Sparks Regulatory Spotlight
Bitcoin dipped slightly (~0.2%) to $113,858. Ethereum, Solana, and XRP gained. Meanwhile, Kanye Westโs launch of a Solana-based meme coin called YZY Money intensifies regulatory concerns.
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