WuBlockchain Weekly: Alibaba's Alipay Features Cryptocurrency Advertisement, Trump and His Son Discuss Bitcoin Prices, Microsoft Declines Investment in Bitcoin,etc
1. Cryptocurrency Fund Advertisement Appears on the Homepage of China’s Alipay, Daily Purchase Limit Set at ¥1,000 link Recently, a large number of mainland Chinese users have received promotional advertisements for cryptocurrency funds on the homepage of their Alipay apps. The advertisements state, “Global investment, cryptocurrency surge, minimum investment of 10 yuan, get on board immediately.” Upon clicking, it is revealed that the fund in question is Huabao Overseas Technology C (QDII-FOF-LOF), a compliant mode of investing in overseas assets through investing in ETFs managed by ARK Invest. The ETF’s top holding is Coinbase stock, followed by the Ark Bitcoin Spot ETF. Currently, each person is restricted to purchasing 1,000 yuan per day. The promotional page explains that cryptocurrency is a digital currency based on blockchain technology, with Bitcoin being the most famous example. However, there are thousands of different cryptocurrencies on the market, each with its own unique ...