??? Will China open up to Crypto?

Today, I’m taking a closer look at China’s recent moves that could send Bitcoin prices soaring.

How come China is still leading in Bitcoin mining even with its tough ban? Are they thinking about getting back into crypto? And what could that mean for Bitcoin’s future??

Let’s figure out what’s ahead for crypto.?

If you're new to us, join the 24,587? readers who rely on us for their updates by subscribing here.

??? Will China open up to Crypto?

China's story with crypto is one with many twists and turns. Despite banning cryptocurrency mining in 2021, the country still leads the world in Bitcoin mining.

In fact, China controls around 55% of Bitcoin’s network—pretty surprising, considering the ban was meant to shut down all crypto activities.

So, how is this even possible?

The Ban That Wasn't Quite a Ban

China’s 2021 crypto ban was meant to put an end to Bitcoin mining.

The Chinese Central Bank pointed to the risks of cryptocurrencies, labelling them volatile and unsafe.?

This wasn’t their first attempt. They had already banned crypto exchanges and ICOs in 2017.?

But the 2021 crackdown was supposed to be the final blow, with mining machines powered off and operations going dark… at least officially.

Despite the ban, China continued to lead in Bitcoin mining. A May 2022 report from the University of Cambridge identified China as the second-largest miner, with 21% of the hashrate.?

Today, that figure has surged to 55%. How?

After a brief pause, likely due to fears of enforcement, Chinese miners quietly resumed operations.?

Many moved to underground or less visible methods to keep mining. While the government targeted public operations, smaller miners kept running and boosted their share in the global market.

The Impact of China’s Economic Stimulus on Bitcoin

In September 2024, the People’s Bank of China announced major stimulus measures to revive the struggling economy, including cutting the reserve requirement ratio and lowering borrowing costs.?

This could also impact the crypto world.

With more liquidity in the system, investors may seek high-return assets like Bitcoin. Historically, when central banks ease policies, riskier assets like Bitcoin benefit.?

So, if China continues down this path, we might see a new wave of interest in Bitcoin and other cryptocurrencies.

Will China Lift Its Crypto Ban?

Rumours are flying that China might lift its crypto ban soon. While nothing is official yet, just the possibility has caught people’s attention.

?If China fully embraces crypto again, it could really push Bitcoin prices up.

In 2021, the ban caused Bitcoin prices to drop. If the opposite happens now, some analysts think Bitcoin could rise significantly, with some predicting it might reach $100K especially with China's big economic stimulus.

Another factor pushing Bitcoin towards the $100K mark is Russia’s recent move to use crypto for trade with China.?

According to the Moscow Times, Russia plans to pay China in cryptocurrency for war supplies.

Overall, the market is optimistic about Bitcoin reaching new highs. However, the next rally is expected to come from broader economic factors and technical trends, not from new spot Bitcoin ETF investments.

?? Will Bitcoin hit its all-time high soon?

?? Apple Pay has launched in Oman, allowing users to add debit cards from banks like Bank Muscat for secure transactions on Apple devices.?

?? CGC Egypt has introduced a digital platform for real-time portfolio analysis and secure data exchange, aimed at improving services for its banking clients.

?? TPS Worldwide is expanding into Saudi Arabia with support from AstroLabs, aiming to offer tailored digital banking and payment solutions in the region.

??BKN301 Group and Damen have launched an NFC payment feature for the Damen Cash app to allow for easy gas bill payments.

?? Majid Al Futtaim and Valu have launched a Mall Gift Card service in Egypt, giving customers access to over 400 brands with flexible payment options and no fees.

?? JPMorgan Chase is negotiating with Apple to replace Goldman Sachs as its credit card partner. A deal may take months to finalize.

?? PayRetailers expands to 12 African countries to offer efficient payment solutions for cross-border merchants.

?? PNC partners with Plaid to securely connect customers to third-party financial apps through its API provider Akoya, marking a shift after blocking data aggregators like Plaid five years ago.

?? Government Digital Service (GDS) in UK seeks Open Banking technology suppliers through an RFI for processing credit, debit, and pay-by-bank transactions .

?? Line Next is launching a web3 mini-game platform for its 2 billion users , allowing in-app access to games, wallet connections, and rewards without extra downloads.

??Play Solana has launched a Web3 portable gaming device that enables players to own and trade in-game assets as NFTs.

?? Bybit has launched Sharia-compliant crypto accounts, making it the first global exchange to offer interest-free trading for 18 coins, including Bitcoin and Ethereum.

?? Bitcoin is expected to rise to $78K after China’s $140 billion stimulus announcement, which has historically boosted demand for the cryptocurrency.?

?? Kwiks, a Morocco-based HRtech, has raised $827,000 from Azur Innovation Management to improve its AI-driven recruitment solutions.

?? Userguest, a Morocco-based SaaS provider, has raised $2.4 million in Seed funding led by Al Mada Ventures to boost its hotel revenue optimization tools.

?? Algeria-based edtech LabLabee has raised $3.4 million in Seed funding to expand into the US and develop its hands-on learning in network technologies.

?? Egypt’s fintech SETTLE has raised $2 million in a pre-Seed round led by Shorooq Partners to accelerate its entry into the global market and further develop its B2B payment platform.

?? Egypt’s edtech Farid has raised $250,000 in pre-Seed to expand its character education platform into Saudi Arabia and the UAE.

Stablecoins– The Emerging Market Story: How can stablecoins transform global finance? This report takes a closer look at how stablecoins are gaining momentum, especially in emerging markets. It covers the benefits of using stablecoins for cross-border payments and remittances, and how programmable, easy-to-audit features are making them practical for various financial transactions. Click here to read the full report.

This week on Couchonomics with Arjun, I had a great conversation with Rahul Banerjee, Founder and CEO of BondbloX. We talked about how bond trading is evolving to be more open and transparent, making it easier for both retail and institutional investors to get involved. Rahul shared his thoughts on using tech to democratise bond investing and how his company is creating a more inclusive financial space. Tune in for this insightful episode by clicking here.

Now, a quick break for your wellness. Chief Wellness Officer at FAB Diego Carrete is on a mission to help executives get fit, increase their energy, and live longer.

Today, he explains how to combat loneliness in the social media era.

Hello there,?

Twenty percent of the world’s employees experience daily loneliness.

Surprisingly, this percentage is higher for those under 35.

Remote employees report significantly higher levels of loneliness (25%).

I have put together 5 uncommon solutions, when you can’t go outside.

Here’s how they work:

——

?? Solution 1.

Send 3 gratitude messages in the morning

Pick 3 random people and send them a message saying why you are grateful to them, these responses, will shock you.

Even if they don’t get back to you that day, this simple act alone will make you feel connected. You can also

Write down 10 things you’re grateful for

Recap on positive moments from the day before

Think of something positive from your past

——

?? Solution 2.?

Express your emotions

If you don’t express, you suppress. To me, is important to communicate whether I am feeling good or bad, holding those feelings inside always backfires.

Yesterday I told my wife I felt lonely and I saw my social circle decreasing going from uninterested based to completely interest based, we discussed it, it really helped.

——

?? Solution 3.?

Drink water

Not drinking enough water can make your anxiety symptoms worse. From coaching over 1,500 executives in the past decade, 80% of them were walking around dehydrated before we started coaching. Drink your bodyweight in litres x 0.033

——

?? Solution 4.?

Improve your sleep quality.

Hot bath, cold room. A hot bath with Epsom salts is great for relaxing your muscles, which can also help relax your mind. Combine this with the right sleeping temperature, 65 degrees Fahrenheit (18.3 degrees Celsius), and this is guaranteed to reduce your anxiety and make you feel better.

——

?? Solution 5.?

Eat fast acting carbohydrates sugars

If you have anxiety and experience lonely related emotions, don’t fast.

Low blood sugar can make you feel nervous, irritable, and anxious. Try eating something easy to digest like a banana. Then follow it up with a well-balanced meal with protein, carbohydrates, and vegetables.

——

The most important part of this?

It’s a marathon.

Is not a light switch you can turn on and off.

More importantly, you need to put in the work even though you don’t feel that bad anymore.

It's a constant WIP.

That’s it for now. Found this helpful? Share this with someone who needs it. See you next week, where we'll talk about other health and nutrition topics.?

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