PANews reported on November 29th that the Beijing Business Daily Financial Investigation Team published an article titled "Cryptocurrency Speculators Swarm Social Media Platforms," pointing out that the chaotic practice of directing traffic to cryptocurrency platforms has infiltrated platforms such as Xiaohongshu, Taobao, and Xianyu. What appear to be lifestyle sharing, new user benefits, or product links are actually ways to drive traffic to cryptocurrency trading, brewing a carefully crafted trap for ordinary people. In terms of traffic generation methods, these generally fall into several categories, including creating topics and building personal brands, and setting up advertising links on the platforms. Industry insiders believe that a "counter-hunting" battle against the chaos of cryptocurrency trading is underway, but completely ending this game requires a concerted effort from regulators, platforms, and users. Not long ago, Pan Gongsheng, Governor of the People's Bank of China (PBOC), publicly stated that the PBOC will continue to crack down on the operation and speculation of virtual currencies within China. Since 2017, the PBOC, together with relevant departments, has successively issued a number of policy documents to prevent and address the risks of virtual currency trading and speculation within China, and these policy documents remain in effect. Going forward, the PBOC will work with law enforcement agencies to continue cracking down on the operation and speculation of virtual currencies within China, maintaining economic and financial order, while closely monitoring and dynamically assessing the development of stable currencies overseas.PANews reported on November 29th that the Beijing Business Daily Financial Investigation Team published an article titled "Cryptocurrency Speculators Swarm Social Media Platforms," pointing out that the chaotic practice of directing traffic to cryptocurrency platforms has infiltrated platforms such as Xiaohongshu, Taobao, and Xianyu. What appear to be lifestyle sharing, new user benefits, or product links are actually ways to drive traffic to cryptocurrency trading, brewing a carefully crafted trap for ordinary people. In terms of traffic generation methods, these generally fall into several categories, including creating topics and building personal brands, and setting up advertising links on the platforms. Industry insiders believe that a "counter-hunting" battle against the chaos of cryptocurrency trading is underway, but completely ending this game requires a concerted effort from regulators, platforms, and users. Not long ago, Pan Gongsheng, Governor of the People's Bank of China (PBOC), publicly stated that the PBOC will continue to crack down on the operation and speculation of virtual currencies within China. Since 2017, the PBOC, together with relevant departments, has successively issued a number of policy documents to prevent and address the risks of virtual currency trading and speculation within China, and these policy documents remain in effect. Going forward, the PBOC will work with law enforcement agencies to continue cracking down on the operation and speculation of virtual currencies within China, maintaining economic and financial order, while closely monitoring and dynamically assessing the development of stable currencies overseas.

                                                                               Wormhole’s native token has had a tough time since launch, debuting at $1.66 before dropping significantly despite the general crypto market’s bull cycle.                     Wormhole, an interoperability protocol facilitating asset transfers between blockchains, announced updated tokenomics to its native Wormhole (W) token, including a token reserve and more yield for stakers. The changes could affect the protocol’s governance, as staked Wormhole tokens allocate voting power to delegates.According to a Wednesday announcement, three main changes are coming to the Wormhole token: a W reserve funded with protocol fees and revenue, a 4% base yield for staking with higher rewards for active ecosystem participants, and a change from bulk unlocks to biweekly unlocks.“The goal of Wormhole Contributors is to significantly expand the asset transfer and messaging volume that Wormhole facilitates over the next 1-2 years,” the protocol said. According to Wormhole, more tokens will be locked as adoption takes place and revenue filters back to the company.Read more