Search results for "USDT"
08:25

Chinese investors shift to real-world asset tokenization as the appeal of USD stablecoins declines

In recent years, Chinese crypto investors have long relied on USDT and other USD stablecoins to hedge against market volatility, but recent currency movements have prompted them to reassess risk. Over the past six months, the offshore RMB/USD rate has climbed from 7.4 to 7.06, the highest level in a year, meaning investors holding USD stablecoins have seen their asset value quietly shrink when calculated in RMB. For example, if you exchanged RMB 100,000 for USDT in April, you would now only get about RMB 95,400 if you exchanged it back, a loss of about 4.6%—without touching any volatile crypto assets. A weakening dollar and a strengthening yuan have created double pressure. This year, the US dollar index has fallen nearly 10%, with weak US employment data and Federal Reserve rate-cut policies triggering large-scale unwinding of arbitrage trades. At the same time, a rebound in the Shanghai stock market has attracted foreign capital, further supporting the yuan’s appreciation. RMB settlements between companies are also on the rise, and increased financial hedging demand has pushed RMB demand beyond just speculation. According to Goldman Sachs research, for every 1% appreciation in the RMB, Chinese stock market returns increase by about 3%, creating a self-reinforcing cycle.
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05:47

Security agency: Only 990,000 USDT remains on Huiwang Pay's chain, and user withdrawals have been suspended.

Odaily Planet Daily News - According to Cambodian media, the Huiwang Group announced that due to recent changes in the external market environment, millions of users have rushed to withdraw funds in a short period of time. To ensure the safety of user funds and the smooth progress of subsequent payouts, the group has decided, after careful evaluation and internal research, to implement a phased delay in payment arrangements. Regarding this matter, security agency Bitrace stated that Huionepay mainly operates its stablecoin payment business on the Ethereum and TRON networks. All business addresses on the Ethereum network had almost completely depleted their USDT balances by October, with the last valid outgoing transaction occurring on November 3, and no further withdrawal activities since then. On the TRON network, business shutdowns were carried out gradually. On the 3rd, 7th, 17th, 19th, and 24th of that month, Huionepay transferred the balances from hot wallet addresses in batches to
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