Dunamu Helps Adolescents Tell the Difference between Blockchain and Bitcoin

Several leading Chinese technology firms have reportedly shelved their plans to launch stablecoins in Hong Kong, following regulatory pushback from the People’s Bank of China (PBOC) and the Cyberspace Administration of China (CAC). According to the Financial Times, the authorities have expressed growing concerns over the risks posed by privately issued digital currencies, prompting companies to delay their initiatives.Photo by Jacky Yu on UnsplashBeijing’s focus on control and digital yuanThe companies’ hesitation underscores Beijing’s broader push to preserve control over its monetary system while advancing the rollout of its central bank digital currency (CBDC), the e-CNY. Earlier this month, the PBOC unveiled a new Shanghai-based center to oversee the e-CNY’s international operations, signaling China’s ambition to extend the digital yuan’s reach beyond its domestic market. Over the summer, companies including Ant Group, backed by Alibaba, and e-commerce platform JD.com signaled interest in Hong Kong’s pilot stablecoin initiative or in issuing crypto products such as tokenized deposits. Those plans are now on hold as firms assess policy signals from Beijing and weigh the implications for their businesses. Research efforts reflect China’s cautious approachChina’s cautious stance is also reflected in its research priorities. The National Natural Science Foundation of China (NSFC), a vice-ministerial body under the Ministry of Science and Technology, has begun inviting grant applications for projects focused on stablecoins and cross-border regulatory frameworks. In announcing the initiative, the NSFC cautioned that the unchecked circulation of privately issued stablecoins could erode the effectiveness of the country’s capital controls. Globally, approaches to fiat-pegged digital assets diverge. In the United States, President Donald Trump in July signed the GENIUS Act, the country’s first stablecoin legislation, into law. A White House fact sheet argued that stablecoins could strengthen demand for U.S. Treasuries and reinforce the dollar’s standing as the world’s dominant reserve currency. In Europe, however, regulators remain wary. In a blog post that same month, European Central Bank (ECB) adviser Jürgen Schaaf warned that the widespread use of U.S. dollar-denominated stablecoins in the euro area could pose financial risks, noting that dollar-based tokens already account for the vast majority of global stablecoin market capitalization. Geopolitics adds to market volatilityThe recalibration by Chinese firms comes against a turbulent geopolitical backdrop. Cointelegraph, citing President Donald Trump’s interview with Fox News, reported that Trump is expected to meet Chinese President Xi Jinping in South Korea during the Asia-Pacific Economic Cooperation (APEC) summit, scheduled for Oct. 31 to Nov. 1. The anticipated meeting follows a string of shifting statements from Trump throughout October—ranging from skepticism about meeting Xi, to announcing new 100% tariffs on Chinese imports, and later adopting a more conciliatory tone. The back-and-forth has coincided with heightened volatility across crypto markets. Market turbulence deepened as a wave of liquidations swept through crypto derivatives, erasing nearly $20 billion in positions on Oct. 10, the largest such event on record. Bitcoin plunged to as low as $104,749 on Oct. 17 and has since rebounded to around $114,000 as of Oct. 28. The pullback by Chinese tech groups underscores the fine line regulators and firms must navigate: advancing digital finance innovation while safeguarding monetary stability and control. How that balance is managed across China, the U.S., and Europe will shape the future of stablecoins and define their place in the evolving global financial order. 

OK Group Retires ‘Okcoin’ BrandIn a move to streamline its crypto ventures, cryptocurrency exchange operator OK Group is rebranding its platforms under the single name “OKX.”The announcement was made by Hong Fang, President of OK Group’s Seychelles-registered exchange OKX, via a thread on X (formerly Twitter) on Monday.Photo by Kelly Sikkema on Unsplash‘Okcoin’ to ‘OKX’ global rebrandFounded in 2013, Okcoin will be undergoing a name change to “OKX,” aligning with OK Group’s overarching branding strategy. Hong Fang expressed her personal connection to Okcoin, stating:“I’ve been part of Okcoin for five years. Over the years, we have put a lot of love and passion into our brand and product.”She emphasized that this rebranding effort, beginning in Singapore, will extend to Europe and the United States in the coming months, ensuring consistency across key operational jurisdictions. Despite the name change, OKX maintains that customers can expect the same high-quality services within the same regulatory framework under the new brand. Providing the rationale for the change, Hong Fang went on to state:”We also believe it’s time for a change. Rebranding to OKX in our key operational jurisdictions will be great for our customers and business. I’m very excited about what to come next.”Previous rebranding activityFang also revealed that OK Group has already sunsetted the “Okcoin” brand and product in several regions, including Latin America, the Middle East and North Africa, South Asia, Hong Kong, and others. This transition aims to create a unified and recognizable identity for the group’s crypto ventures.The United States holds particular significance for OK Group’s global strategy, and the company remains committed to that market. Fang acknowledged the unique challenges encountered in the US but expressed the company’s dedication to empowering individuals and protecting freedom through technology within the US market. She stated: “It is home base for a lot of us on our team. It is special to us.”OKEx rebrandThis rebranding news comes approximately one year after OK Group initiated a similar transition with its subsidiary, formerly known as OKEx. In December 2022, OKEx transformed into “OKX,” expanding its scope beyond being a centralized crypto exchange. The move aimed to embrace DeFi, non-fungible tokens (NFTs), and Web3. OKEx, founded by OK Group CEO Star Xu in 2017, had played a significant part in terms of innovation in the cryptocurrency space during that time.OK Group’s decision to rebrand its crypto ventures under the unified name “OKX” signifies a strategic shift toward creating a more cohesive and streamlined brand presence in the global crypto market. The transition stands out as yet another iteration in the development of global crypto platforms within an ever-changing crypto ecosystem. As Hong Fang put it, “Okcoin was started almost 10 years ago.” . . . “We have been unequivocally investing in our Okcoin team and infrastructure ever since.”

Next Month’s Hackathon Event in Seoul Draws Attention from Ethereum DevelopersTickets for Ethcon Korea 2023, a conference dedicated to Ethereum developers and hackathon enthusiasts, are now available for purchase.Photo by DrawKit Illustrations on UnsplashTickets now availableThe Ethcon Korea organizing committee announced today that tickets are now on sale through the official event website. Participation in the hackathon is open to programmers who stake $79, while conference enthusiasts can buy their tickets at the price of $69.With the goal of expanding the Ethereum development ecosystem, Ethcon Korea is the only non-profit Ethereum developer conference in Korea, benefiting from the sponsorship of the Ethereum Foundation. This year’s event will take place in Seoul between September 1 and 3, consisting of four main parts: the conference, an educational workshop, a hackathon, and a demo day.Vitalik Buterin to deliver a keynote speechAt the conference, Ethereum co-founder Vitalik Buterin is set to deliver a keynote speech, which will be followed by presentations of prominent developers and researchers from both home and abroad. Industry experts will participate in the workshop to share valuable insights, bolster participants’ technical skills, and cultivate a collaborative environment, encouraging them to showcase their potential in hackathon projects.Hackathon backed by quadratic fundingThe three-day hackathon will be backed by the quadratic funding method, an idea initially proposed by Vitalik Buterin together with Harvard economist Zoë Hitzig and Microsoft researcher E. Glen Weyl. Quadratic funding is a democratic and inclusive funding mechanism that puts more emphasis on smaller contributions from a larger group of contributors.The organizing committee noted that Ethcon Korea 2023 will not only encourage developers to pursue learning but will also drive growth within the blockchain industry. The group also added that the event will play a role in increasing the global recognition and understanding of the Korean Ethereum community.Ethcon Korea 2023 is sponsored by many renowned organizations including Ethereum layer-2 projects Optimism and Polygon, decentralized oracle network Chainlink, and blockchain investment group Hashed. Contributions from these sponsors and proceeds from ticket sales will be allocated towards event operations and the establishment of a prize pool.The organizing committee is recruiting individuals who are interested in contributing as volunteers or offering their expertise as hackathon advisors. Those interested in participating in these roles can apply through the official event website. The application window for these roles will remain open until the end of this month.