Investigation launched into prominent Chinese blockchain figure Yao Qian

In a bid to foster gender diversity and inclusivity within the blockchain industry, cryptocurrency exchange Bitget has committed $10 million to invest in women-led startups in the Web3 and blockchain sector. Blockchain4HerThe announcement, made at the Web3 Hub Davos event on Tuesday, a part of the World Economic Forum 2024, highlights Bitget's initiative in promoting equality in a rapidly advancing sector. Bitget's research reveals a stark gender bias within the blockchain sector, with only 6% of startup funding directed towards female-led projects. Bitget’s Blockchain4Her project has been established as a direct consequence, in order to address this imbalance. Blockchain4Her has been designed to provide crucial support, mentorship and recognition to women in the industry. The initiative will include tailored incubation programs, pitch competitions exclusively for women-founded startups and the Women in Blockchain Summit & Awards, aimed at acknowledging outstanding achievements by women in the blockchain space. Recognizing the need for comprehensive measures, Bitget aims to confront the gender disparity by creating a nurturing environment through these multifaceted efforts. By offering specialized support for female entrepreneurs, the initiative aims to encourage greater involvement and leadership roles for women in the blockchain space.Photo by Shubham Dhage on UnsplashIndustry ambassadorsAs part of the Blockchain4Her program, Bitget plans to invite industry leaders to serve as ambassadors, supporting gender diversity in the blockchain industry. These ambassadors will play a crucial role in advocating, engaging and driving positive changes, fostering an inclusive environment for women in the blockchain sector. Bitget's commitment to addressing gender disparity in the blockchain industry is further underscored by its recent report on Web3 venture capital funding by gender. The report, published on Jan. 11, revealed that less than 7% of VC funding in the industry went to female-led startups, emphasizing the need for comprehensive measures to increase inclusiveness and accessibility for women in the blockchain sphere. The company is itself leading from the front on the issue, with Gracy Chen as managing director, one of the few crypto exchange platforms headed up by a female executive. Blockchain4YouthIt’s not the first time that the company has embarked upon a corporate social responsibility-themed project. It follows Bitget's earlier commitment to nurturing talent through the “Blockchain4Youth” initiative, which was announced in May of last year. The $10 million initiative set out to serve the objective of “empowering and inspiring younger generations to use Web3 and crypto tools to create and engage in a decentralized space.” It focuses on providing courses through Bitget Academy, hosting university lectures on Web3, incubating innovative projects by young entrepreneurs and organizing hackathons for individuals under 30 to identify promising leaders. A by-product of Blockchain4Youth also involved the company commencing to invest in Indian blockchain startups in November. Bitget's Blockchain4Her initiative represents a significant step towards fostering a more equitable blockchain space. By championing inclusion and diversity, Bitget not only contributes to a fairer industry but also supports the sustainability and growth of the broader technology sector. 

The People’s Bank of China (PBOC) plans to roll out a new structure for its central bank digital currency (CBDC) operations, moving the digital yuan into a deposit-based role within the commercial banking system beginning Jan. 1, 2026. Lu Lei, a deputy governor of the PBOC, announced the update, marking a new direction after nearly a decade of pilot programs. According to a report by FTChinese, the move fits into Beijing’s broader economic planning, as authorities seek to reinforce China’s role in global finance while containing risks tied to loosely regulated digital activity. The deputy governor said China will continue to run the digital yuan under a two-tier system, with the central bank responsible for rules and infrastructure, while commercial banks manage wallets, payments, and compliance. He added that the arrangement is designed to prevent banks from being sidelined and to limit shadow banking risks associated with digital payment platforms outside the regulated system.Photo by Eric Prouzet on UnsplashDigital yuan transactions top $2.3TThe announcement comes as use of the digital yuan, known as the e-CNY, continues to rise. By late November 2025, the system had handled 3.48 billion transactions with a total value of 16.7 trillion yuan ($2.3 trillion). There are about 230 million personal wallets and 18.84 million corporate wallets. Beyond domestic use, the e-CNY is being positioned for international trade. Lu pointed to progress on mBridge, a cross-border payments project involving multiple central banks. The platform has processed 4,047 transactions worth the equivalent of 387.2 billion yuan ($55.3 billion), with the digital yuan accounting for about 95.3% of the settlement value. The deputy governor also sounded a note of caution on private-sector innovation, saying the rapid growth of digital assets and stablecoins could complicate the conduct of monetary policy. He said central banks need to ensure that new payment tools do not undermine macroeconomic stability or allow money to circulate beyond regulated channels. Hong Kong to license crypto dealers, custodiansAs Beijing moves to strengthen its state-backed currency framework, Hong Kong is also tightening oversight of the crypto market. On Dec. 24, the city’s Financial Services and the Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC) released their conclusions on proposed legislation to regulate virtual asset dealing and custodial services. Following the implementation of the Stablecoins Ordinance in August, regulators are now moving to require firms offering crypto dealing or custody services in Hong Kong to obtain licenses and operate under regulatory supervision. They also began seeking feedback on whether to extend oversight to virtual asset advisory and management providers, with the proposed framework modeled on existing securities market rules. In a separate development underscoring the contrast between state-backed and decentralized digital currencies in the region, reports this month pointed to a sharp drop in Bitcoin network activity linked to mainland China. BTC hashrate drop seen amid China mining changesKong Jianping, CEO of Nasdaq-listed Web3 infrastructure firm Nano Labs, said on the social media platform X that the global Bitcoin network’s hashrate fell by about 100 exahashes per second, or roughly 8%, around Dec. 15. He attributed the decline to the shutdown of an estimated 400,000 mining rigs, mainly in Xinjiang. A lower hashrate means less computing power is securing the network, reducing competition among miners that validate transactions. China has maintained a broad ban on crypto trading and mining since 2021. Industry outlet Wu Blockchain said the reasons for the latest shutdowns were unclear. 

Standard Chartered Muscling Into Asian Crypto SpaceUK banking giant Standard Chartered is making a concerted foray into the Asian crypto sector through its Singapore-based subsidiary, Standard Chartered Ventures.Photo by Kirill Petropavlov on UnsplashTargeting institutional businessThat’s according to a report by Nikkei Asia on Tuesday. It’s believed that the company is positioning itself as a trusted choice for institutional cryptocurrency clients amid the backdrop of digital token price volatility and recent upheavals in the industry. The move will pit the British bank directly against global crypto exchange Binance in key Asian markets, specifically Singapore and Japan.Rene Michau, the Global Head of Digital Assets at Standard Chartered, emphasized what he considers to be the bank’s unique advantage in the digital asset space, stating:“As regulated banks, we have a fairly deep infrastructure around risk, conduct compliance, and the activities that go along with crypto assets.”This solid infrastructure includes established risk frameworks, governance structures, and compliance tools that Standard Chartered is keen to bring into the cryptocurrency sphere, thus making it an attractive option for its clients.Zodia Custody and Zodia MarketsStandard Chartered’s substantial involvement in the cryptocurrency market is channeled through its majority ownership of Zodia Custody, responsible for safeguarding digital assets, and Zodia Markets, a crypto exchange tailored for institutional clients.Both entities have been making significant progress in bringing their offerings to market in recent months. Zodia Custody recently launched its services in Singapore, offering a secure solution for financial institutions to manage their crypto holdings. Last month it launched a crypto staking product targeted at institutional clients.In the same month, Zodia Markets achieved in-principle approval to trade as a broker-dealer in the United Arab Emirates. Zodia Custody has also been successful in the UAE, launching its crypto custodian service in Dubai in May.Japan and SingaporeThis concerted effort by Standard Chartered follows a broader trend where traditional financial institutions, such as DBS Group Holdings in Singapore, are entering the cryptocurrency market, capitalizing on the challenges faced by younger crypto players in proving their credibility.Binance rebranded its Binance Custody unit as Ceffu and expanded its offerings for corporate customers in Singapore. While Binance asserts the independence of Ceffu, the exact nature of their capital relationship remains undisclosed.A parallel competition is unfolding in Japan, where Binance Japan has entered the market and Standard Chartered’s Zodia Custody has formed a joint venture with SBI Digital Asset Holdings, targeting institutional clients.While Standard Chartered has achieved a lot through its crypto-focused subsidiaries in a short space of time, there’s always room for improvement. In June, Hong Kong’s banking regulator singled out Standard Chartered alongside HSBC, appealing to both banking groups to make greater efforts to bank crypto clients within the Chinese autonomous territory, as it looks to compete with Singapore in becoming a regional crypto hub.The cryptocurrency sector has witnessed increased scrutiny as virtual currencies like Bitcoin and Ether have gained popularity. The rise of digital token exchanges, each vying for custody of assets belonging to investors who have embraced cryptocurrencies, has sparked concerns about corporate governance and security.Giants in traditional finance, like Standard Chartered, are stepping in to offer institutional investors a safer path to engage with virtual assets while leveraging the trust associated with established brands.