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Is China backing out of its stablecoin push? Regulators reportedly move to cool market frenzy

Chinese regulators are reportedly clamping down on the growing hype around stablecoins, ordering firms to stop promotions around the subject. Summary Chinese regulators have reportedly ordered firms to cancel stablecoin events and halt related research. The clampdown comes as concerns grow that local hype is fueling fraud and misleading promotions. Despite the clampdown, insiders say…

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BOB raises $21m to accelerate hybrid Bitcoin DeFi platform development

BOB, a Bitcoin DeFi project, has raised $21m through multiple funding rounds to advance its hybrid blockchain that combines Bitcoin’s security with Ethereum’s DeFi capabilities. Summary BOB has raised a total of $21 million through multiple funding rounds since December 2024, incl. a recent $9.5 million strategic round that attracted new investors and increased commitments…

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