Pandaily
Everything about China's Innovation
Digestible news on the latest developments across the fields of Web3, NFTs, blockchain, and metaverse in Greater China and beyond, compiled for you every week by Pandaily.
This week: Bitcoin mining giant Canaan doubles profits despite China’s crypto ban, Animoca Brands bets big during crypto winter, metaverse jobs disappear as hiring slows across global tech companies, and more.
Chinese crypto mining rig manufacturer Canaan reported 1.65 billion yuan ($246.7 million) in revenue in the second quarter of this year, up 52.8% year-on-year. Shares of the company went up by 0.77% on Thursday upon the news. Cointelegraph and Forkast first reported the story.
READ MORE:All of our previous articles on Canaan!
The latest slump in digital assets has wiped out $2 trillion from the global crypto market since November. However, Animoca Brands, Asia’s biggest gaming software developer and venture capital firm, is assembling a vast portfolio of 340 gaming, crypto, and social media companies in the hope of reviving the industry. Bloomberg first reported the story.
READ MORE: All of our previous articles on Animoca Brands!
Gate.io’s Hippo Financial Services Limited has been granted a Trust or Company Service Provider (TCSP) Licence to offer virtual asset custodial services in Hong Kong, according to a press release on Monday.
Hong Kong-based crypto exchange Gemini announced on Friday that it will offer support for clients based in the US, Singapore and Hong Kong to earn and store staking rewards in their Gemini accounts. CoinDesk first reported the story.
New monthly job postings across all industries with ‘metaverse’ in the title declined 81% between April and June, Bloomberg reported, citing data from Revelio Labs, a workforce research company.
Crypto exchange FTX took revenue from below $90 million in 2020 to more than $1 billion last year as cryptocurrencies hit an all-time high. CNBC first reported the story.
That’s it for this week’s newsletter – thanks for reading! As always, we welcome any feedback on how to make this newsletter better. Write to us at [email protected]. See you again next week!
This week: Tencent’s NFT marketplace Huanhe to close down, Zipmex becomes latest crypto exchange to halt withdrawals, Hong Kong monetary chief said crypto and DeFi won’t disappear, and more.
This week: US game developer Unity to spin off China unit to tap the country’s metaverse market, Chinese bitcoin mining rig maker Canaan mulls US expansion despite crypto winter, and more.
This week: Shanghai pledges support for NFT trading platforms, Animoca Brands raises another $75 million amid crypto market crash, Tencent shuts down NFT platform to comply with government rules, and more.
Chinese tech giants, startups, and regulators appear set to play a critical role in the internet’s coming Web3 metamorphosis.
Pandaily is a tech media based in Beijing. Our mission is to deliver premium content and contextual insights on China’s technology scene to the worldwide tech community.
The automated manchine translation of regional languages is powered by NiuTrans.
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