Shanghai Man: Aping out of gorilla token, digital dollar Biden its time … and more
This weekly roundup of news from Mainland China, Taiwan and Hong Kong attempts to deal with the most important news in the industry, including influential projects, changes in the regulatory landscape and blockchain integrations from business.
Memecoin culture shock
Feed Every Gorilla (FEG) has been a source of drama after Chinese President Xi Jinping’s memes were posted. The token claims to use its income to take care of gorillas and has gained the attention of animal-related tokens, amassing a market cap of over $ 1 billion. Some in the Chinese community found the memes offensive and, after not finding support from the team, began to abandon the project. The incident went viral, and Chinese centralized exchanges, including OKEx and Gate.io, responded with radiation the token. FEG’s price fell around 75% before rebounding slightly on Thursday.
Digital Yuan vs. digital dollar
Babel closes $ 40 million round
Free the benches
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