Cryptocurrency Analysis and News Portal
The Chinese government continues to crack down on the cryptocurrency industry with a new investigation targeting a major Chinese yuan stablecoin issuer.Employees of Trust Reserve — the issuer of the Chinese yuan-pegged stablecoin CNH Coin (CNHC) — have been detained by Chinese police, the local blockchain publication PANews reported on
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Leading exchange KuCoin participated in a $10 million funding exercise for CNHC to support stablecoin adoption. KuCoin recently led a $10 million funding initiative for offshore Chinese yuan stablecoin issuer CNHC. This investment by the leading crypto exchange’s investment is part of a broader scheme to support stablecoins. In addition to KuCoin’s investor IDG
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“This investment in CNHC is part of KuCoin Ventures' broader strategy of investing in the Web3 infrastructure in the APAC region,” Justin Chou, chief investment officer of KuCoin and lead at KuCoin Ventures, said in a statement. “Hong Kong has a well-established traditional finance ecosystem. With the regulation and new
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