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China Rare Earth Group, Ant Group quash reports of joint stablecoin effort with PBOC

Share link:In this post: Ant Group denied claims on Chinese social media regarding plans to develop rare-earth-backed stablecoins in collaboration with the People’s Bank of China (PBoC). The denial was issued on August 11, 2025, amid growing speculation about the potential for stablecoins backed by rare earth elements. JD.com and Alibaba have been trying to get the People’s Bank of China to approve a stablecoin based on the offshore yuan to challenge USD-backed stablecoins.

Cryptopolitan·2025/08/11 19:15

Korean Stock Investors Pivot to Crypto, Softbank Paypay US Listing and More

South Korean retail investors shift focus from US tech stocks to crypto, as regulatory changes drive the move.

BeInCrypto·2025/08/11 18:00

Chainlink and NYSE owner team up to deliver FX and precious metals pricing to DeFi

Cryptobriefing·2025/08/11 17:30

XLM’s Bullish Setup Holds—But Stellar Gains Could Stall for Now

Stellar price remains inside a bullish setup after its recent breakout, but record exchange balances and fading momentum hint that gains could take longer to arrive.

BeInCrypto·2025/08/11 17:00

Bitcoin Flirts With Record High as Wild Predictions Fly

TheCryptoUpdates·2025/08/11 16:50

A $300 Million Crypto Scam Shocks US and Mexico

A $300 million crypto scam has left 1,200+ investors in Mexico and the US without funds, as authorities pursue suspects in a cross-border probe.

BeInCrypto·2025/08/11 16:39

Bullish bets push Ethereum options interest to $13.75B

CryptoSlate·2025/08/11 16:00

Whale Accumulation of $1.34 Billion in Ether Sparks Speculation on Price Recovery Amid Record ETF Inflows

Coinotag·2025/08/11 16:00

Is XRP On the Cusp of a Comeback or a Catastrophic Collapse?

Newscrypto·2025/08/11 16:00

Bitcoin miner Bitfarms looks to redomicile in US as its revenue jumps 87% year-over-year

Quick Take Bitfarms has seen its revenue jump 87% year-over-year as the Bitcoin miner continues to double down on its high-powered compute investments, according to its second-quarter earnings report. The move comes as Bitfarms looks to redomicile in the U.S., backed by President Trump’s strong political support for crypto and AI.

The Block·2025/08/11 16:00

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15:22

Predict.fun's active trading users this week has exceeded 120,000, reaching a new all-time high.

BlockBeats News, July 4th, according to Dune Analytics data, over 120,000 unique users have traded on the prediction market platform Predict.fun this week, reaching a record high, with over 72,000 new users.

15:13

If Bitcoin surpasses $65,000, the cumulative short liquidation pressure on mainstream CEXs will reach $651 million.

BlockBeats News, July 4th, according to Coinglass data, if Bitcoin breaks above $65,000, the total liquidation strength of mainstream CEX short positions will reach $651 million. On the other hand, if Bitcoin falls below $61,000, the total liquidation strength of mainstream CEX long positions will reach $678 million. BlockBeats Note: The liquidation chart does not show the exact number of contracts to be liquidated or the exact value of contracts to be liquidated. The bars on the liquidation chart actually represent the importance of each liquidation cluster relative to adjacent liquidation clusters, i.e., the strength. Therefore, the liquidation chart shows to what extent the price of the underlying asset will be affected when it reaches a certain level. A higher "liquidation bar" indicates that the price will experience a stronger reaction due to a liquidity cascade when it reaches that level.

15:10

SK Hynix plans to promote one of the largest stock offerings in history with a 0.5% underwriting fee

Glonghui, July 4｜According to Bloomberg, South Korean memory chip giant SK Hynix is considering paying an underwriting fee of about 0.5% to banks underwriting its US listing plan, with the size of the issuance expected to rank among the largest stock offerings in history. SK Hynix stated that the size of this issuance could be up to 2.5% of its outstanding shares, but the final amount has yet to be determined. Bank of America, Citibank, Goldman Sachs, and JPMorgan are jointly leading the stock offering. According to sources, in addition to the basic underwriting fee, the company may also pay discretionary reward fees to relevant banks. Based on SK Hynix's current market value of about 1.1 trillion USD, the issuance could raise up to about 26.5 billion USD. Calculated at the 0.5% rate, the participating banks could earn a total income of over 130 million USD from the transaction.

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Predict.fun's active trading users this week has exceeded 120,000, reaching a new all-time high.

Shiba Inu Surpasses 1.6M Holders as Investors Accumulate 51B SHIB From Exchanges

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