Chinese Tech Giants Alibaba and JD.com Urge Central Bank Approval for Yuan-Based Stablecoins

Chinese tech giants JD.com and Alibaba affiliate Ant Group are pressuring the People’s Bank of China to authorize yuan-based stablecoins, proposing to launch offshore yuan tokens in Hong Kong to counter the U.S. dollar’s dominance in the $247 billion global stablecoin market.
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FTX Seeks Court Approval for Restricted Jurisdiction Claims as 82% of Value Comes from Chinese Users

FTX is seeking court approval to dispute claims from 49 restricted jurisdictions, with Chinese users accounting for 82% of the total value despite constituting only 5% of allowed claims, creating new hurdles for creditors in countries with crypto trading restrictions.
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