Internet giants re-enter the crypto market

Just two days ago, Trump, who was once skeptical of cryptocurrencies, told Bloomberg Businessweek that he turned to the industry because "if we don't do it, China will take over, or other countries, but it will probably be China. China takes this very seriously."

Many people may not understand, aren't we suppressing the encryption industry?

Yes, we did suppress the encryption industry in the past few years. The most iconic one was the policy suppression in 2021, which directly led to the 519 plunge.

This wave of suppression also led to the collective overseas expansion of Chinese in the encryption industry.

Internet giants have also cut blockchain-related businesses, and related businesses have also sunk from the surface to the bottom.

Now that nearly three years have passed, the encryption industry has become a key issue affecting the US election.

There shouldn't be anyone stupid enough to think that they should give up this industry, right?

Recently, Internet giants representing my country's most advanced scientific and technological productivity have begun to quietly deploy the encryption industry.

First, Tencent Investment Group and Matrix Partners China recently led a $15 million Series A financing for Chainbase, a developer of a full-chain data network.

This Chainbase aims to simplify access to blockchain data by integrating blockchain data into a single platform, and has been publicly used for Tencent Cloud.

As far as I know, many other businesses of Tencent actually use the services of many encryption projects, but for various reasons, it is not convenient to publicize them.

In addition to Tencent, another Internet giant JD.com also publicly announced its re-entry into the crypto industry.

JD.com is making a fortune in silence and directly entering the core stablecoin business.

On July 18, the Hong Kong Monetary Authority (HKMA) announced the first batch of stablecoin issuers "sandbox" participants, including JD.com CoinChain Technology (Hong Kong) Co., Ltd., Yuanbi Innovation Technology Co., Ltd., and Standard Chartered Bank (Hong Kong) Co., Ltd., Animoca Brands Limited, and Hong Kong Telecom Limited (HKT) who jointly applied.

In fact, as early as April this year, ByteDance's technology solution subsidiary BytePlus officially announced its cooperation with Sui and entered the blockchain for the first time. BytePlus will work with Mysten Labs to apply its recommendation solutions and augmented reality products and other services to Sui.

Ant Financial, also a tech giant under the Alibaba Group, announced that it will significantly increase the financing of its blockchain subsidiary. In fact, as early as December 23, Alibaba invested in CARV, a game and AI data layer solution.

As the saying goes, ducks know first when the river water warms in spring, and the collective actions of tech giants should verify Trump's statement: China does attach great importance to the encryption industry.