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China launches national blockchain center

The National Blockchain Technology Innovation Center, first announced in February, officially started its work in the Chinese capital city of Beijing.

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The National Blockchain Technology Innovation Center, first announced in February, officially started its work in the Chinese capital city of Beijing.

The center will collaborate with local universities, think tanks and blockchain businesses to develop blockchain technology in China. The institution will reportedly train more than 500,000 specialists in distributed ledger technology (DLT). 

Leading the new center is the Beijing Academy of Blockchain and Edge Computing, which developed the ChainMaker blockchain; a home-grown blockchain serving as a blueprint for the center’s developments. ChainMaker is already supported by a group of 50 business corporations, most of which are state-owned, including big names like China Construction Bank and China Unicom. As reported by local media, the center will accelerate the construction of “ultra-large-scale” blockchain computing power clusters.

According to Zheng Zhiming, a professor at the School of Mathematics and Systems Science at Beihang University, the center’s mission is to connect various blockchain use cases in the country so-called blockchain islands into a single cohesive network:

“Connecting blockchain application platforms and aggregating blockchain application ecology will significantly enhance blockchain innovation capabilities and core competitiveness.“

With the crackdown on cryptocurrencies still in force, the Chinese government continues to actively research the digital economy’s possibilities. Chinese companies are studying methods to develop artificial intelligence via weaker semiconductors and combinations of chips to bypass reliance on a single type of high-tech hardware imported mainly from the United States.

The country is also marching ahead with its central bank digital currency project. In April, it announced expanding the use cases for the digital yuan to its “Belt and Road” initiative and cross-border trades.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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