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- GT Airdrop Is Live! 1.92M GT Burned in Q2, Worth Over $39M
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Is the countdown to the collapse of the People's Coin? The onshore renminbi exchange rate once fell below the 7.3 level, the weakest since 2023.
Onshore Renminbi fell below the psychological barrier of 7.3 against the US dollar for the first time since the end of 2023, which may indicate that the Central Bank of China is considering coping with increasing economic pressure by using a weaker currency. Meanwhile, the Central Bank of China announced today that it will conduct 19.3 billion yuan of 7-day reverse repurchase operations to maintain ample liquidity in the banking system. (Background: China's Central Bank issued the "Financial Stability Report": lengthy mention of global cryptocurrency regulatory progress, praising the dual-license system in Hong Kong)