China News by Thebittimes.Com

Bitcoin (BTC), the world’s largest cryptocurrency, hit an all-time high (ATH) of $123,091 on July 14. Similarly to its digital counterpart, gold has also experienced a significant surge, having gone up 35% in the past year with the potential to hit its own record price of $3,600 per ounce in H2 2025. Thanks to the upward momentum, Bitcoin now has a market cap of around $2.36 trillion, while the precious metal has a market cap of approximately $22.57 trillion.  That is, Bitcoin is now worth 10% of gold’s market cap, being the sixth largest asset by the same metric, based on the data available on Companies Market Cap. To put things into perspective, the coin has overtaken silver, which now occupies the eighth spot, just below Alphabet (NASDAQ: GOOGL). Top assets by market cap. Source: Companies Market Cap  Will Bitcoin surpass gold? As both assets make substantial gains, the market is asking whether Bitcoin might surpass gold. At the time of writi...

This AMA primarily focused on the relationship between Conflux and 0G Labs, discussing 0G Labs’ high valuation, fundraising structure, technical direction, and community concerns over transparency. 0G CTO (formerly Conflux CTO) Ming Wu and 0G Labs CEO Michael Heinrich provided detailed explanations about 0G Labs’ origins, fundraising details, technical roadmap, and its collaboration with Conflux. Community members raised concerns about 0G Labs’ high valuation, transparency in funding commitments, and future revenue model. In response, Michael and Ming Wu argued that 0G Labs’ valuation is based on its long-term vision and market potential, and that its fundraising structure aligns with industry standards. The AMA also touched on changes in the Conflux team, discussions about the Yao Class background, and 0G Labs’ privacy-preserving technology. 0G Labs (Zero Gravity Labs) is a startup focused on the intersection of crypto and AI, aiming to build infrastructure for decentralized AI system...

Elon Musk’s xAI artificial intelligence firm is reportedly close to unveiling a chatbot app similar to OpenAI’s ChatGPT. Musk has been a vocal opponent of OpenAI, previously banning iPhones in his Tesla HQ if they received ChatGPT capabilities. According to a report from the Wall Street Journal, the app could arrive as soon as December. Musk co-founded OpenAI but left the company in 2018. He has sued OpenAI and cofounder/ CEO Sam Altman twice. Musk most recently alleged he was “deceived” into confounding the company, and has seemingly established a rivalry with the company since. Also Read: Secret Metal That Helped Win World World 2 Is Now Controlled by BRICS Elon Musk founded xAI last year to compete with OpenAI. Already, the company has provided services to his other ventures, including AI customer support for Starlink, and Grok, a chatbot only available to paid subscribers of X, another Musk acquisition. However, the xAI chatbot app would be the first xAI product op...

The bulls failed to stay put in the cryptocurrency market. Shiba Inu (SHIB) and its counterparts were seen drowning in the Red Sea. At press time, the asset was trading at $0.00001322, with a nearly 3% decline over the past 24 hours. SHIB went from a high of $0.0000135 to $0.0000126. Also Read: Ripple: Two Reasons Why Investors Should Hold Their XRP And Not Sell It Shiba Inu’s Market Performance And Potential Benefits Source Increase in Large Transactions Amidst this, Shiba Inu has an increase in large transactions. According to data from IntoTheBlock, SHIB saw a 171% rise in substantial transaction volume. This means that whales were making big moves in the meme coin market. But the asset’s price was plunging, which means there were more selling and internal movements than buying. Also Read: Cardano: How High Can ADA Spike This Weekend Post The Chang Hard Fork Potential Benefits From A Spike In The Global Market Cap The overall cryptocurrency market cap is currently at $2 t...