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Donald Trump Is Saying There’s a TikTok Deal. China Isn’t
Gaming Gear

Donald Trump Is Saying There’s a TikTok Deal. China Isn’t

by admin September 19, 2025


US efforts to ban TikTok started during Trump’s first term in 2020. Months before he left office, Trump threatened to ban TikTok and another Chinese app WeChat. The Biden administration rescinded Trump’s executive orders on the topic but continued to scrutinize TikTok. The US congress eventually passed the Protecting Americans from Foreign Adversary Controlled Applications (PAFACA) Act in April 2024. This gave TikTok two options: divest from its Chinese ownership before January 19, 2025, or risk a federal ban.

The app briefly went dark in the US ahead of the deadline, then reappeared on app stores less than 24 hours later and resumed services for US users.

Since Trump returned to power, Washington’s stance on TikTok appears to have shifted. Trump has become a steadfast advocate for saving the app, which he credited with helping him win the support of young voters. He has repeatedly extended the deadline set by the PAFACA Act, most recently to December 16, 2025, which some experts have criticized as illegal.

The deal that is reportedly being proposed by the Trump administration could meet the requirements set by the PAFACA Act, says Alan Rozenshtein, an associate professor of law at the University of Minnesota Law School. But the fact remains that the deadline has been extended multiple times and American companies like Oracle and Apple have not paid fines for continuing to service the app.

“The way the law was written, the companies were liable for doing business with TikTok, up to $5,000 per US user. So if there are 170 million TikTok users [in the US], and they all used the platform in the last nine months, and each of these platforms and each of these companies has accrued potentially up to nearly $1 trillion in liability,” Rozenshtein claims. He notes that it’s unlikely the Trump administration will collect that fine.

Some experts in Washington believe the deal does not solve the perceived national security issues that sparked talk of a ban in the first place. “In plain terms, ownership change without technical separation is a violation of the law,” says Craig Singleton, a senior fellow at the Foundation for Defense of Democracies, a DC-based think tank. He compares the deal to a “joint custody” rather than the “divorce” that the PAFACA Act required.

The Chinese government has stressed in recent statements that the deal will include concessions from the US on non-TikTok issues, such as barriers to cross-border investment. “The US side needs to provide an open, fair and non-discriminatory environment for Chinese investors,” the Chinese readout of the call between Trump and Xi says.

If Beijing exchanges the TikTok deal for better trade terms, ByteDance and its original investors may lose out. “It’s not great. But it’s still better than being completely shut down and losing entirely to Meta. It’s probably like a C-minus outcome,” says Rui Ma, founder of Tech Buzz China, a research firm focused on Chinese tech.

Update 9/19/25 6:00pm ET: This story has been updated to include a statement posted by ByteDance.



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September 19, 2025 0 comments
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microsoft toilet
Esports

Public toilets in China are making people watch ads for toilet paper

by admin September 12, 2025



China’s latest “smart” public toilet upgrade has gone viral, and it might be the most dystopian one yet.

Clips circulating across Chinese social media show new dispensers in the country that only release toilet paper if you watch an advertisement or pay a small fee.

In a viral video shared by China Insider, a woman is seen scanning a QR code with her phone and being forced to view an ad before the machine finally spits out a strip of paper.

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According to the outlet, users can either watch an ad or pay 0.5 yuan (about $0.07) per strip. Officials claim the system was introduced to reduce waste, claiming that some people had been taking excessive amounts of free toilet paper.

New toilets make users watch ads to get toilet paper

This isn’t the first time China’s bathrooms have made headlines. Back in 2017, facial recognition dispensers were installed at tourist spots, rationing out one 60-centimeter strip per scan every nine minutes.

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By 2019, new dispensers extended the wait to ten minutes per person.

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Like most ad-based systems, the reaction has been overwhelmingly negative. “I’m walking with my own paper everywhere just in case,” one user wrote. Another remarked, “China is more capitalistic than USA.”

“Ok, this is the first actually dystopian thing I have seen,” someone else said.

Others suggested just watching the ad while doing your business to get some “entertainment” while on the can.

There’s also one pretty big flaw: if someone’s phone is dead or they don’t have spare change, they could have a really gross situation on their hands – literally.

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September 12, 2025 0 comments
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LeBron James writes op-ed as NBA aims to rebuild in China
Esports

LeBron James writes op-ed as NBA aims to rebuild in China

by admin September 9, 2025


HONG KONG — NBA great LeBron James wrote a rare op-ed in Chinese state media this week, pointing to basketball as an avenue for diplomacy amid tensions with the U.S.

Writing in Monday’s edition of the People’s Daily newspaper, the 40-year-old Los Angeles Lakers star said “basketball is not only a sport, but also a bridge that connects us.”

The piece was published as James was in China ahead of two NBA preseason games next month in Macao between the Phoenix Suns and the Brooklyn Nets. And it comes as leaders in China and the U.S. seek options to avert a potential trade showdown between the world’s two biggest economies.

U.S. President Donald Trump has threatened to impose steep tariffs on China, which has said it would respond with retaliatory levies of its own. Trump said last month that he would delay the tariffs for 90 days as negotiators from both countries work on a potential deal, which could ultimately lead to a summit later this year or early next year between the U.S. leader and Chinese President Xi Jinping.

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As the standoff unfolds, James’ comments caught the attention of the Hong Kong-based South China Morning Post, which reported: “It is rare for the mouthpiece of China’s ruling Communist Party to run articles carrying the byline of foreign sports stars. It is more common for international sporting heroes to connect with fans in China via Chinese social media.”

Ahead of his 23rd season in the NBA, James said he was amazed by the reception he has received in China.

“It’s super humbling for me to be able to come here, so far away from home, and get the reception and the love, I just wanted to pour it back to the community and to this country,” Xinhua, the official news agency, quoted James as saying as he wrapped up his visit in Chengdu.

The NBA is working to rebuild its brand in greater China, where basketball has long been popular. The games on Oct. 10 and 12 will take place more than five years after the league was effectively banned for a while in China over NBA commissioner Adam Silver’s decision not to punish Daryl Morey in 2019 for tweeting support of anti-government protesters in Hong Kong.

The geopolitical rift started when Morey, then the general manager of the Houston Rockets and now GM of the Philadelphia 76ers, tweeted support for protesters while the Nets and Lakers were in China.

The tweet was deleted, but the fallout lasted years. No NBA games were shown in China for a year, and broadcasts of games only started returning regularly in 2022.

There has been a series of moves toward a return to normalcy between China and the league, including a visit by Golden State’s Stephen Curry and San Antonio’s De’Aaron Fox last year that drew enormous crowds. Curry returned for a visit last month.



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September 9, 2025 0 comments
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Hollow Knight: Silksong is being review-bombed in China
Game Reviews

Hollow Knight: Silksong is being review-bombed in China

by admin September 6, 2025


82 per cent of Hollow Knight: Silksong’s Steam reviews may be positive, but it seems the adoration hasn’t been universal, with hundreds of Chinese-speaking players slamming Team Cherry for issues with the sequel’s translations.

It’s been such a problem, in fact, that even though Silksong’s reviews are chiefly either Very or Overwhelming Positive when you isolate by language, Silksong’s simplified-Chinese Steam reviews are sitting on an anomalous Mixed rating.

Perhaps unsurprisingly, then, Team Cherry’s Matthew Griffin directly addressed Chinese-speaking players on X/Twitter overnight, acknowledging the issue and confirming “we’ll be working to improve the translation over the coming weeks”.

Hollow Knight: Silksong Gameplay – The First Two Hours.Watch on YouTube

“To our Chinese-speaking fans: We appreciate you letting us know about quality issues with the current Simplified Chinese translation of Hollow Knight: Silksong,” he wrote (thanks, Kotaku). “We’ll be working to improve the translation over the coming weeks. Thanks for your feedback and support.”

To our Chinese speaking fans:

We appreciate you letting us know about quality issues with the current Simplified Chinese translation of Hollow Knight: Silksong.

We’ll be working to improve the translation over the coming weeks.

Thanks for your feedback and support.

— Matthew Griffin (@griffinmatta) September 5, 2025

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Chinese-speaking players’ feedback suggests Hollow Knight: Silksong’s translation “reads like a Wuxia novel instead of conveying the game’s tone”, is “of rather low quality”, and “really ruins the game experience…”

Consequently, of the 16,000+ reviews left for Silksong by players categorised as playing in the ‘Simplified Chinese’ language, just 44 per cent have left a positive review.

For more on Silksong, Bertie spoke to several developers about the impact its low price will have on other indie games in his feature: Is Hollow Knight Silksong’s ‘cheap’ price a problem for other indie games? Devs and publishers weigh up its impact. And interestingly, the pirating community is actually urging others to buy the game, rather than pirate it.

And in news unlikely to surprise you as we go into the weekend, Hollow Knight: Silksong has already broken its own concurrent record, hitting 562,814 players on Steam.





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September 6, 2025 0 comments
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XRP
Crypto Trends

Air China May Let Millions Pay With Crypto

by admin September 6, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Reports say Webus International made a deal with Air China that could put its Wetour travel service in front of more than 60 million PhoenixMiles loyalty members. The plan may add XRP payments to Wetour’s overseas platform. But it’s not automatic. The change depends on future business steps and getting regulatory approval.

Access For 60 Million Members

Under the deal, Wetour will focus first on premium chauffeur and airport transfer services. PhoenixMiles members could get access to Wetour’s platform, which now shows XRP as a payment option and also accepts Ripple’s RLUSD stablecoin.

Webus has also moved to use more altcoins. In June it filed with the SEC for a $300 million treasury reserve and said it plans to use the XRP Ledger for cross-border payments.

Image: The Points Guy

XRP: Real Use & Limits

Fans say the XRPL settles transactions in three to five seconds and fees are under one cent. Those features are why travel companies and loyalty programs might try the tech for vouchers, token rewards, and fast payments.

But XRP payment support doesn’t always mean people will use the token for daily purchases. Attorney Bill Morgan notes the cautious wording, but he thinks it shows real progress. He said, “For me, it shows adoption of XRP.”

XRPUSD now trading at $2.82. Chart: TradingView

Big Number Vs. Actual Use Case

Sixty million is a big headline. It gets attention. But access is not the same as active use. Many loyalty programs have members who rarely travel or never use partner services.

Wetour’s focus on higher-end transport and promo coupons means early use might only be by some members, not all 60 million. That can still matter. Pilot programs usually start small and grow if people use them.

Rules & Business Checks

The announcement says the integration depends on future business steps and regulatory sign-off. That matters now because payments and loyalty schemes touch local rules, cross-border compliance, and payment systems. A wide rollout will need those issues cleared, and it could take time.

This is a notable step for XRP in travel and loyalty programs, but it’s early and conditional. Webus’ earlier moves — the planned $300 million treasury and XRPL plans — make the idea more believable than a one-time press claim.

Featured image from Meta, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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September 6, 2025 0 comments
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39% of gamers in China are interested in generative AI’s application in games
Esports

39% of gamers in China are interested in generative AI’s application in games

by admin September 1, 2025


According to a new report, gamers in China are expressing a “high interest” in generative AI.

Niko Partners’ China Gamer Behaviour and Market Insights report, published on August 27, 2025, surveyed 1,058 gamers in China to provide insights on player demographics, behaviour, and engagement in 2025.

The report found that 39.4% of gamers in China are interested in generative AI’s application in games, while 85.2% are aware of the technology.

Niko Partners noted that Chinese studios are “ahead of the game” with 60% already using generative AI in their development pipelines.

The analysis firm, in particular, highlighted NetEase, which has “integrated multiple generative AI features into Justice Online Mobile, allowing players to interact with smart NPCs or create custom videos with their in-game character.”

Elsewhere, the report found that esports and game livestreaming remain “key verticals” in China in 2025.

46.5% of respondents said they have engaged with esports, defined as having played or watched an esports game, or competed in a tournament themselves, while one in four respondents said they regularly watch game livestreamers, with “influencers and streamers playing a key role in game marketing and promotion.”

According to Niko Partners’ report, short video apps, like Douyin (TikTok) and Kuaishou, have continued to grow in importance and are “key marketing channels for game developers looking to target players in the country.”

The survey found that these short video apps are one of the leading sources of video game information, with 41% of gamers in China getting new game information from these platforms, compared to game platforms and stores (38.7%), social media (33.9%), messaging apps (33.4%), and influencers and streamers (31.6%).

Niko Partners noted that while “short video is the leading source for both mobile and PC gamers,” game platform recommendations are the leading source on console.

The report also found that mini games have “emerged as a notable segment” in China.

The firm defines mini games as those “can be played instantly, without download, and are typically available within platforms and apps such as WeChat and Douyin.”

The report found that 84.4% of gamers in China have played a mini game, with 17.7% of women playing these games daily, compared to 10.3% of men.

“Mini games are reaching a broader and more casual demographic in China, already accounting for nearly 10% of total player spending on video games,” Niko Partners stated.

In June, Niko Partners released its Market Model Reports, which reported that the Asia, Middle East, and North Africa (MENA) games markets generated $86.6 billion from player spending on software and services in 2024, marking a 1.4% increase.

The report also projected that “the regions’ development will continue reliably through 2029” with revenue estimated to reach $96 billion in Asia and MENA by 2029.



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September 1, 2025 0 comments
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NFT Gaming

Bank of China Stock Jumps Amid Rumours of Stablecoin Licensing Plans

by admin September 1, 2025



In brief

  • The Bank of China’s Hong Kong branch stock shot up by 6.7% on reports that it plans to apply for a stablecoin issuer license.
  • Hong Kong launched its stablecoin licensing regime in August.
  • Regulators have also urged caution to investors over speculation-driven price moves.

The Bank of China’s Hong Kong-listed shares rose by 6.7% on Monday, trading at HKD$37.58, after local media reports suggested that the bank’s Hong Kong unit is preparing to apply for a stablecoin issuer license.

The Hong Kong Economic Journal reported that the Chinese state bank’s branch had formed a dedicated task force to explore stablecoin issuance.

The Bank of China did not respond to a request for comment, but in last week’s results call it told investors it was researching digital asset applications and their risk management.

Hong Kong introduced its stablecoin licensing regime on August 1, requiring issuers to secure approval from the Hong Kong Monetary Authority (HKMA). The framework imposes strict requirements on reserve management, redemption guarantees, client fund segregation, anti-money laundering, disclosure and operator vetting. The rules came shortly after the U.S. passed its first federal stablecoin law, the GENIUS Act.

The city’s regime has already attracted interest from major financial institutions, including Standard Chartered.

Chinese tech giants JD.com and Ant Financial have also announced plans to seek licenses abroad for services targeting their international businesses, which could include applying in Hong Kong. JD founder Richard Liu said in June the company aims to use stablecoins to reduce cross-border payment costs, first for business-to-business transfers before expanding to consumers.

Vincent Chok, CEO of Hong Kong-based First Digital, told Decrypt the appeal of stablecoins lies in efficiency. “Blockchain technology reduces settlement times and bypasses the traditional intermediary fees of banks,” he said, adding that the opportunity is “especially pronounced in emerging markets, where growing stablecoin adoption provides users a hedge against currency volatility.”

While the cost advantage varies by corridor and transaction type, Chok noted that adoption is accelerating as regulation provides clarity. “The current trajectory suggests exponential growth in the next 2-5 years,” he added.



Still, Hong Kong regulators have urged restraint. In mid-August, the Securities and Futures Commission (SFC) and the HKMA jointly warned investors that market swings tied to licensing rumours may be misleading.

“These movements appear to follow corporate announcements, news reports, social media posts or speculations regarding plans to apply,” they said. “Given the significant uncertainties surrounding the outcomes of these preliminary plans or applications, the abrupt market movements… highlight the need to stay vigilant in these frenetic situations.”

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September 1, 2025 0 comments
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China Is About to Show Off Its New High-Tech Weapons to the World
Product Reviews

China Is About to Show Off Its New High-Tech Weapons to the World

by admin September 1, 2025


China is preparing for one of the most anticipated and politically charged military events in recent years. On September 3, in Tiananmen Square, China will celebrate the 80th anniversary of the victory over Japan in World War II with a spectacular military parade that is not only a ritual of historical remembrance but also a message to the entire world to be prepared for the war of the future.

President Xi Jinping and several foreign leaders and officials, including Vladimir Putin, will attend the ceremony. The Russian president’s presence is reported to have prompted several European ambassadors to consider defecting from the event, fearing it would contribute to the Kremlin’s international legitimization amid the ongoing war against Ukraine.

China’s New Weapons Send a Message

The parade will last about 70 minutes and will see dozens of formations parading down Chang’an Avenue in the heart of Beijing. Xi, as supreme commander of the armed forces, will review the troops before the march through the square. More than 10,000 military personnel, more than 100 aircraft, and hundreds of ground vehicles will be involved.

The official theme is the celebration of peace and international justice, but the real content will be the demonstration of the People’s Liberation Army’s ability to fight high-tech wars in new strategic domains: cyberspace, outer space, electronic and hypersonic warfare. According to leaked information from Chinese dress rehearsals and official sources, more than 100 models of weapon systems, all domestically produced and already in operational service, will be on display.

Enter the Anti-Ship Missiles

Among the most anticipated weapons are the new YJ (Ying Ji, “Eagle Shot”) series anti-ship missiles, designated YJ-15, YJ-17, YJ-19, and YJ-20. These are systems designed for a specific mission: to neutralize large US naval units, particularly aircraft carriers, the heart of American supremacy in the Pacific. These carriers are part of China’s A2/AD (Anti-Access/Area Denial) strategy, i.e., the creation of “defensive bubbles” that can prevent or make it too risky for enemy fleets to access the South China Sea, the Taiwan Strait, and the Western Pacific.

China has developed a wide range of anti-ship missiles in recent decades, often starting with Soviet technologies, and then surpassing them with indigenous designs since the YJ-8 in the 1980s, derived from French Exocets. With the new series, China is aiming for a further qualitative leap, combining stealth, hypersonic speed, and artificial intelligence.

The exact specifications are top secret, but from general tests and expert analysis, some distinguishing features come into focus. First: speed of at least Mach 4-6, thus in the range of hypersonic missiles, with terminal maneuvering capability to evade anti-missile systems. Second: range of hundreds of kilometers. Third: combined flight profile, with the cruise phase at medium-high altitude, followed by grazing descent to the sea to reduce the possibility of interception. Fourth: multiple guidance with Beidou satellite, active radar, and IR sensors. Fifth: launch versatility, adaptable to aircraft, ships, submarines, and mobile land platforms, increasing possible saturation against enemy fleets. Put together, these weapons signal to the United States that aircraft carriers are no longer untouchable, and the Pacific is no longer an “American sea.”

Going Hypersonic

Also expected at the parade are new launchers capable of overcoming US missile defenses and providing Beijing with credible strategic deterrence. Rehearsal images show road-mobile ballistic missile systems, an ideal weapon to ensure so-called second strikes in the event of a nuclear conflict. China is developing and deploying a new generation of advanced mobile intercontinental ballistic missiles (ICBM), designed to ensure the survival of the nuclear deterrence force in the event of a preemptive strike.

Among the main models is the DF-31AG, with an estimated range of more than 11,000 kilometers (6,835 miles), capable of hitting any target in the continental United States. Next up is the DF-41. Considered the most powerful intercontinental missile in China, it has a range of over 12,000 to 15,000 kilometers (7,456 to 9,320 miles) and can carry up to 10 MIRV warheads, each capable of hitting a different target. It is mobile and can be launched from both silos and rail platforms. Beijing is also banking heavily on the JL-3, an ICBM that can be launched from nuclear submarines, currently being deployed on the new Type 096 class of submarines.

The Lethal Stealth Drone

According to several analysts, the September 3 parade will also feature the FH-97: China’s first unmanned aircraft declared combat-ready. Nicknamed “loyal wingman,” it is capable of operating in synergy with manned fighters, carrying out reconnaissance, attack, and electronic jamming missions. If confirmed, China would become the first country in the world to have a this type of stealth drone declared “combat ready,” ahead of even the United States and Australia, which are still experimenting with similar models such as Australia’s Boeing MQ-28 Ghost Bat or the US Skyborg project.

Many details remain confidential, but from what has emerged, the FH-97 can carry guided bombs and air-to-air or air-to-surface missiles, and packs sensors for reconnaissance and electronic warfare. In addition, it can network with fighters such as the J-20 or J-16, acting as a force multiplier for offensive and defensive missions. Finally, it should have artificial intelligence systems to maneuver independently, follow preprogrammed routes, avoid threats, and cooperate with manned aircraft. Showing this aircraft in public means signaling to Washington, Tokyo, and Taipei that Beijing is capable of supporting next-generation air operations that are difficult to counter with current defense doctrines.

Block and Tackle

Alongside hypersonic missiles and ICBM, China’s developing weapons include a less conspicuous but potentially revolutionary arsenal: electronic warfare systems and directed-energy weapons. If missiles are the weapon of visible deterrence, electronic and directed energy weapons are silent tools that can blind enemy radar and communication systems, neutralize drones and missiles in flight, and protect Chinese forces from cyber- and space attacks.

China has invested heavily in the field, seeing it as decisive in winning “informatized” and “intelligentized” conflicts. China’s mobile land and naval systems can jam the frequencies used by airborne radars, cruise missiles, and satellites, while some People’s Army brigades combine cyberattacks and electronic jamming, simultaneously targeting enemy hardware and software. Direct-energy weapons, on the other hand, use concentrated beams of energy (lasers, microwaves, high-power electromagnetic waves) to strike targets without traditional projectiles.

Also on display will be the latest models of reconnaissance drones and combat drones, including unmanned underwater ones, expanding Chinese surveillance capabilities in disputed waters. The debut at the September 3 parade of these systems has strong symbolic value: Beijing wants to show that it has not only caught up with the West, but in some areas, aims to surpass it.

This story originally appeared on WIRED Italia and has been translated from Italian.



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September 1, 2025 0 comments
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Esports

Man in China goes viral after sitting in the rain for hours analyzing a chess match

by admin August 31, 2025



A man in the Hebei providence, an area of Northern China, has gone viral for losing a match of Xiangqi. The match isn’t what made him go viral, though. It’s what he did after.

Xiangqi is one of the most popular board games in both China and Vietnam and has been played for centuries. It’s often called Chinese chess or Elephant chess due to a number of similarities between both games. They’re both difficult for their own reasons.

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Chess grandmasters have gone to great lengths and committed years of their lives to perfecting their craft. The same is true for Xiangqi, as was shown by one man who spent hours thinking about a match while sitting in the middle of a massive storm.

Chinese man goes viral for analyzing Xiangqi match

After losing at around 5pm, the man could be seen urging his competitor to come back to the table after the match in a video from the South China Morning Post.

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Footage shows him sitting there for four hours, with the table looking almost the same as he left it. He was moving the pieces around in stages, moving them back to how he lost.

And, while this may seem ridiculous to some, others have spoken out about his level of dedication and could relate with his feelings.

Chess grandmaster Hans Niemann recounted a time where he had similar feelings, sitting in the rain for hours after a tough loss.

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“In 2019, I was leading the U16 World Youth championships in Mumbai, got food poisoning, lost 3 games in a row. I laid by the pool and it started raining. Then it started thundering, some of my friends tried to drag me inside but I stayed there for hours,” he claimed.

It’s hard to say whether or not the man figured out why he lost the match, but his dedication hasn’t gone unnoticed.

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August 31, 2025 0 comments
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stablecoin, crypto
GameFi Guides

PetroChina Eyes Stablecoins As Eric Trump Lauds China Power

by admin August 30, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Following the recent regulatory developments in Hong Kong, Asia’s largest oil and gas producer, PetroChina, is reportedly evaluating the adoption of stablecoins for cross-border payments.

PetroChina Considers Stablecoin Adoption

On Friday, local news media outlets reported that PetroChina, the listed arm of state-owned China National Petroleum Corporation (CNPC), will explore cross-border settlement and payments using stablecoins.

According to the reports, Wang Hua, Chief Financial Officer (CFO) and Board Secretary of PetroChina, disclosed during the half-year meeting that the company is closely monitoring the latest developments regarding the Hong Kong Monetary Authority’s (HKMA) Stablecoin Ordinance.

In May, Hong Kong’s Legislative Council officially passed the new Stablecoins Ordinance, directing any individual or entity seeking to issue a fiat-referenced stablecoin (FRS) in the jurisdiction, or any Hong Kong Dollar (HKD)-pegged token, to obtain a license from the HKMA.

The ordinance, enacted on August 1, aims to reinforce regulatory oversight on the digital assets industry, while fostering innovation and “responsible, sustainable” development. Under the new framework, licensed entities are allowed to offer FRS in Hong Kong. Meanwhile, retail investors can access the tokens issued only by these qualified institutions.

Hong Kong’s Financial Secretary, Paul Chan Mo-po, previously noted that stablecoins, “particularly when it is referenced to fiat currencies, (have) many use case scenarios,” including cross-border payments to enhance efficiency and reduce costs.

PetroChina will reportedly initiate a viability study on the use of stablecoins for cross-border settlement and payments, marking the Chinese energy giant’s entry into the digital assets landscape under Hong Kong’s new regulatory framework.

HK, China Crypto Landscape

As the report noted, Wang Hua didn’t disclose a specific timeline, only stating that the company would “closely monitor policy developments and build technical capabilities.” This could suggest that PetroChina’s stablecoin exploration remains in the research phase.

It’s worth noting that the HKMA established a six-month transition period and encouraged interested institutions to submit applications before September 30. Hong Kong’s Financial Secretary has stated that regulators received several applications from entities seeking to become qualified issuers.

Previous reports revealed that multiple companies have applied for the HKMA license ahead of the ordinance enactment, including logistics technology firm Reitar Logtech and the overseas arm of Chinese mainland financial technology giant Ant Group.

Meanwhile, e-commerce giant JD.com, through its fintech arm JD Coinlink, was testing HKD-pegged tokens under the regulator’s sandbox program earlier this year. Despite Hong Kong’s crypto push, authorities have warned about the excessive hype in the market and public opinion, raising concerns over a developing trend toward speculation as the market has become “overly enthusiastic.”

Similarly, Chinese regulators have allegedly instructed firms to halt promotions and research publications related to stablecoins amid concerns that the growing interest in the sector could enable the digital asset to be exploited as a new tool for fraudulent activities.

Nonetheless, Eric Trump, son of US President Donald Trump, recently highlighted China’s role in the crypto industry. At Bitcoin Asia 2025, the American businessman affirmed that the country is a “hell of a power” in the sector, adding that the US and China likely understood digital assets “better than anyone else in the world.”

“There’s no question that China is a hell of a power when it comes to this world,” Trump said, stating that he would love for President Trump and his Chinese counterpart, Xi Jinping, to talk about Bitcoin.

Bitcoin’s performance in the one-week chart. Source: BTCUSDT on TradingView

Featured Image from Unsplash.com, Chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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August 30, 2025 0 comments
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Welcome to Laughinghyena.io, your ultimate destination for the latest in blockchain gaming and gaming products. We’re passionate about the future of gaming, where decentralized technology empowers players to own, trade, and thrive in virtual worlds.

Recent Posts

  • This 5-Star Dell Laptop Bundle (64GB RAM, 2TB SSD) Sees 72% Cut, From Above MacBook Pricing to Practically a Steal

    October 10, 2025
  • Blue Protocol: Star Resonance is finally out in the west and off to a strong start on Steam, but was the MMORPG worth the wait?

    October 10, 2025

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