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Reports say Webus International made a deal with Air China that could put its Wetour travel service in front of more than 60 million PhoenixMiles loyalty members. The plan may add XRP payments to Wetour’s overseas platform. But it’s not automatic. The change depends on future business steps and getting regulatory approval.

Access For 60 Million Members

Under the deal, Wetour will focus first on premium chauffeur and airport transfer services. PhoenixMiles members could get access to Wetour’s platform, which now shows XRP as a payment option and also accepts Ripple’s RLUSD stablecoin.

Webus has also moved to use more altcoins. In June it filed with the SEC for a $300 million treasury reserve and said it plans to use the XRP Ledger for cross-border payments.

Image: The Points Guy

XRP: Real Use & Limits

Fans say the XRPL settles transactions in three to five seconds and fees are under one cent. Those features are why travel companies and loyalty programs might try the tech for vouchers, token rewards, and fast payments.

But XRP payment support doesn’t always mean people will use the token for daily purchases. Attorney Bill Morgan notes the cautious wording, but he thinks it shows real progress. He said, “For me, it shows adoption of XRP.”

Big Number Vs. Actual Use Case

Sixty million is a big headline. It gets attention. But access is not the same as active use. Many loyalty programs have members who rarely travel or never use partner services.

Wetour’s focus on higher-end transport and promo coupons means early use might only be by some members, not all 60 million. That can still matter. Pilot programs usually start small and grow if people use them.

Rules & Business Checks

The announcement says the integration depends on future business steps and regulatory sign-off. That matters now because payments and loyalty schemes touch local rules, cross-border compliance, and payment systems. A wide rollout will need those issues cleared, and it could take time.

This is a notable step for XRP in travel and loyalty programs, but it’s early and conditional. Webus’ earlier moves — the planned $300 million treasury and XRPL plans — make the idea more believable than a one-time press claim.

Featured image from Meta, chart from TradingView

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A coalition of AI companies unveiled a Super Political Action Committee (SuperPAC), designed to influence US technology policy and strengthen the nation’s position in the global AI race, according to an Aug. 25 press release.

The group, Leading the Future (LTF), pledged to back candidates who support innovation while pushing back against legislation that could slow deployment.

The launch is backed by more than $100 million in contributions from high-profile investors and technologists. Notable supporters include venture capital firm Andreessen Horowitz (a16z), OpenAI’s Greg and Anna Brockman, Rob Conway, Joe Lonsdale, and AI startup Perplexity.

LTF’s mission

According to its mission statement, LTF intends to craft a bipartisan agenda that keeps the US at the center of AI development. The organization plans to build political networks across federal and state levels, ensuring technology-friendly candidates gain traction in future elections.

Collin McCune, head of government affairs at a16z, described the initiative as a milestone in the firm’s long-term strategy to support pro-technology lawmakers. He warned that failing to establish a favorable policy could cost the US its leadership role in the emerging industry.

Considering this, McCune stated:

“AI isn’t hype or science fiction, it’s already here. This technology can drive the next wave of American growth, create new jobs, and unlock productivity across every sector of the American economy. But make no mistake: this is also a race with China. If we don’t have the right policies, we risk ceding the future of AI, and with it, America’s economic strength and national security.”

The PAC will be directed by political consultants Zak Moffatt and Josh Vlasto. Initial operations will begin in New York, California, Illinois, and Ohio before expanding nationally in 2026. LTF will become active in the 2026 election cycle, financing campaigns aligned with its pro-innovation policy platform.

Following cypto’s example

The AI industry’s political push closely mirrors tactics used by the crypto sector during the last elections.

In the 2024 election cycle, crypto-funded PACs spent hundreds of millions to influence congressional races, from California’s Democratic Senate primary to tightly contested House contests in Virginia.

That investment has since paid significant dividends, with the US government now more inclined towards the industry and having implemented a series of pro-crypto initiatives designed to allow the space to thrive.

Still, the industry players have raised an additional $141 million to expand their lobbying presence in the forthcoming mid-term elections.

Mentioned in this article

CMB International Securities Limited, a subsidiary of the China Merchants Bank (CMB) — one of China’s top banks — launched a cryptocurrency exchange in Hong Kong.

According to a Monday CMB WeChat announcement, the bank has started offering virtual asset trading services. The launch comes after the Hong Kong Securities and Futures Commission approved the bank’s application for a virtual asset service provider license in mid-July.

CMB’s Hong Kong-based crypto exchange allows for 24/7 trading of Bitcoin (BTC), Ether (ETH) and Tether’s USDt (USDT) for eligible investors. Documentation provided by the bank clarified that only professional investors are eligible for crypto trading services.

China Merchants Bank is one of the country’s largest banks, managing over $1.7 trillion worth of assets as of the end of March, according to Macrotrends data. The bank’s ordinary class A shares have a market capitalization of $153.16 billion.

Related: China cracks down on stablecoin promotions, research and seminars

Mainland China’s ban on crypto persists

CMB said it is the first Chinese bank–affiliated broker in Hong Kong to secure licenses tied to virtual asset trading services. The bank also noted plans to integrate traditional stock trading with digital assets and fintech applications.

Still, in Shenzhen, China — where the bank’s headquarters are located — such a service would be illegal. The Chinese government banned crypto trading in 2017, resulting in major sell-offs at the time.

Since then, Chinese authorities have continued to treat crypto trading as illegal in mainland China, leading some market participants to devise creative solutions.

Hong Kong operates under its own rules within China’s “one country, two systems” policy, and is increasingly emerging as a local crypto hub.

Related: Animoca and Standard Chartered form stablecoin venture in Hong Kong

Hong Kong: an emerging crypto hub

Hong Kong authorities appear to have made crypto regulation a high-priority part of their agenda. On the first day of this month, the Hong Kong Monetary Authority (HKMA) finalized its regulatory framework for stablecoin issuers.

The introduction of the new rules led to stablecoin companies operating in Hong Kong posting double-digit losses on Aug. 1, just after they came into force. Analysts at the time described the sell-off as a healthy correction, as the requirements for stablecoin issuers proved to be more stringent than expected.

The new rules were rolled out in a six-month transition period starting from Aug. 1. The new Stablecoin Ordinance effectively criminalizes the offering or promotion of unlicensed fiat-referenced stablecoins to retail investors. Local authorities also launched a dedicated public license registry before the rules came into effect.

The Hong Kong Securities and Futures Commission has warned that the introduction of the new local stablecoin regulatory framework has increased the risk of fraud. Last week, the SFC also issued immediate guidance on cryptocurrency custody standards, introducing sweeping security requirements and a ban on smart contracts in cold wallet implementations — a rule that conflicts with current practices at several leading firms.

Magazine: China to ban owning Bitcoin? Gate.io to pay $30M over liquidations: Asia Express

]]> https://earlybirdsinvest.com/china-merchants-bank-subsidiary-launches-crypto-exchange-in-hong-kong/feed/ 0 53827 https://earlybirdsinvest.com/wells-fargo-banker-banned-from-leaving-china-after-being-allegedly-implicated-in-criminal-case-report/ https://earlybirdsinvest.com/wells-fargo-banker-banned-from-leaving-china-after-being-allegedly-implicated-in-criminal-case-report/#respond Fri, 25 Jul 2025 00:04:22 +0000 https://earlybirdsinvest.com/wells-fargo-banker-banned-from-leaving-china-after-being-allegedly-implicated-in-criminal-case-report/

China’s foreign ministry has reportedly confirmed that a visiting Atlanta-based banker who works for the financial service behemoth Wells Fargo has been prohibited from leaving the country.

CNN reports that the Chinese Ministry of Foreign Affairs spokesperson Guo Jiakun said on Monday that the exit ban placed on Chenyue Mao is due to her involvement in a criminal case.

Mao serves as managing director at Wells Fargo Bank N.A.

“According to Chinese law, the case is under investigation, and Ms. Mao is temporarily unable to leave the country and is obligated to cooperate with the investigation. During the investigation, the authorities will ensure that her legal rights are protected.”

The bank, which operates overseas branches in Shanghai and Beijing, decided to suspend all travel to China following the exit restrictions.

“We are closely tracking this situation and working through the appropriate channels so our employee can return to the United States as soon as possible.”

It is not clear how Mao is linked to the criminal case. Just last month, she was elected the new chair of FCI, a global association of companies formerly known as the Factors Chain International.

In a statement to the BBC, the US embassy in Shanghai says that the Chinese government has long imposed exit bans on US citizens and other foreign nationals, often without a clear and transparent judicial process.

“We track these cases closely, and have raised our concern with Chinese authorities about the impact these arbitrary exit bans have on our bilateral relations and urged them to immediately allow impacted US citizens to return home.”

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The Aqua1 Foundation claimed it was operating independently in response to journalist Jacob Silverman’s report. However, the foundation did not answer some important questions. However, among all the dramas, there are strong rumors that the WLFI Crypto token will be released for deals this week or next week.

Silverman published the investigation Monday, claiming that he found a link between Aqua1 Foundation and Web3port through shared web hosting and duplicates.

Femme!

Rumors that will lead to Aqua1, $ wlfiThe $100 million backer, which has been banned by the Chinese company Web3port, is swirling.

Aqua1 denies that, but Dave Lee (aka David Jia Hua Li), who shared his AWS footprint and past connections, keeps the question alive.

Crypto or geopolitical chess? pic.twitter.com/izexshozhp

– Vanessa (@_0xvane) July 16, 2025

More twists and turns on AQUA1/WLFI Crypto Drama claim Dave Lee is affiliated with market makers below burns

He said the founder of Aqua1, known as Dave Lee in X, is actually David Li, and the contact profile for its outreach platform lists him as Web3port’s partner and senior project manager.

The Aqua1 Foundation was scrutinized in late June after purchasing a $100 million worth of governance token from World Liberty Financial, a cryptocurrency project supported by former US President Donald Trump and his family.

The investigation raised concerns that entities supporting the president’s debt initiative could have links with Web3port, a company accused of manipulating cryptocurrency prices.

Lee attempted to distance himself from Web3port and said he left his previous role in his “previous employer” due to “a fundamental difference in vision and strategy.” However, he has not explicitly confirmed or denied that he is David Lee or that Aqua1 is connected to Web3port.

Silverman is a journalist known for his critical reports about Trump and his relationship with the cryptocurrency industry. Last week, he published an article nationwide entitled “Does Trump’s biggest code patronage exist?” He raised questions about the legitimacy of the Aqua1 Foundation, particularly after committing $100 million to WLFI Crypto.

Silverman reported that the public presence of Aqua1 is composed primarily of numbers known only as “Dave Lee” by obscure websites, social media accounts being suspended. In a follow-up survey on his site, he said Lee is Web3port’s David Li based on LinkedIn records and analysis of past meeting appearances.

I have identified “Dave Lee” (@leedave_aqua), a person with a pseudonym behind the Aqua 1 Foundation. Last month, Trump announced a $100 million contract with World Liberty Financial. I think it’s important to know who will pay the US president. https://t.co/6dipcpm54v

– Jacob Silverman (@silvermanjacob) July 14, 2025

Discovered: Top Solanamime Coins to buy in July 2025

Aqua1 responds to Silverman: threatens legal action

Following the release of the report, Aqua1 issued a statement on X, claiming it was “operated independently and has no fair, financial or operational relationships with unrelated entities.” It warned that it would pursue legal action against defamation or effectively false reports.

The statement appeared to deny its relationship with Web3port, but did not mention the company by name and did not address whether Web3port qualifies as an associated entity.

One of Silverman’s important findings is that Aqua1 and Web3port shared the same server IP address and along with several other crypto-related domains. Initially, Aqua1 ignored this point. However, when pushed on social media, Lee responded to Aqua1 by claiming that it had “no relation to any other teams or entities.”

“The shared IP was simply due to early transition hosting. I brought in the CTO and core IT members when I left,” Lee wrote to X.

“After many attempts to contact his colleagues and the WLF, I got an email last night,” Silverman said in a leaked message exchange. “It didn’t include any denials at all and didn’t clarify the details of my report.”

Official Statement of Aqua1

I’ve noticed recent online speculations about AQUA1 and its team. To prevent the spread of incorrect information, we would like to clarify the following:

Team background

Dave Lee has joined AQUA1 as a co-founder…

– Aqua1 Foundation (@aqua1fndn) July 15th, 2025

In a screenshot of the email received by Silverman, Lee outlined the ongoing development of stubcoins, real-world assets and initiatives in the Middle East. The message stated that certain details are subject to regulatory and compliance restrictions and cannot be publicly disclosed at this time.

“However, if there is a specific point you want to clarify, we are pleased to provide factual information and do our best to support accurate reporting. We value constructive dialogue and are open to continuous engagement,” reads the email screenshot.

However, through the front and rear exchanges between Lee and Silverman, Lee informed him whether he was David Lee, who belongs to Web3port.

WLFI Crypto is rumoured to go live for a deal soon

In that case, there is only 7 hours left $ wlfi A governance vote to make tokens tradeable.
Once approved, this will allow open market transactions for the first time.
Do you have any insight into when the first exchange list will occur? pic.twitter.com/8bradv1sdl

– cryptoprofilers (@cryptoprofilers) July 16, 2025

There are only a few hours left to go to governance votes to be voted for WLFI Crypto holders on whether to make tokens tradeable. Currently, it is 99.94% in favour of enabling WLFI for transactions, and once this vote is over, it is possible that the date WLFI will be listed on the exchange will be announced.

It seems like a natural conclusion given that Binance’s list is built on the world’s Liberty Financial, its USD1 stubcoin, and Binance’s BNB smart chain. The close relationship between the two companies is transparent, so investors can expect a list of the world’s largest crypto exchanges on the first day.

Coinbase is one of the famous exchanges that may not list WLFI on the first day due to the continued tension between Binance and its co-founders CZ and the World Liberty Financial Project. There are rumours that Coinbase has adjusted its recent Bloomberg hits with WLFI Crypto and CZ, but the exchange has denied these claims.

However, aside from Coinbase, traders can expect a day listing of WLFIs on Binance, Bybit, OKX and other top tier exchanges due to the hype and demand surrounding the launch of this token. The exchange will want to secure a share of the expected liquidity that will be poured into WLFI upon launch.

Keep an eye out for the official world Liberty Financial Social Media Channels at the time when WLFI Crypto is published for the transaction.

Exploration: 20+ Next Cryptographs to Explode in 2025

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Mainland China chipmaking capacity is accelerating, now poised to become the world’s leading semiconductor foundry hub by 2030, and overtaking Taiwan in total capacity, according to the latest projections from Yole Group. Chinese dominance in this field is fueled by the country’s push to manufacture its own tech as U.S. export restrictions continue to ramp up.

China’s rapid rise in semiconductor manufacturing

Yole Group forecasts that China’s share of global foundry capacity will rise to 30% by 2030, up from 21% in 2024. In contrast, Taiwan, the current leader, held a 23% share last year. China’s foundry expansion has already propelled it past South Korea (19%), Japan (13%), and the U.S. (10%) in capacity rankings.

According to the South China Morning Post, the acceleration is fueled by massive state investment in China chipmaking notably through the China Integrated Circuit Industry Investment Fund (“Big Fund”), which has nurtured national champions like SMIC and Hua Hong Semiconductor.

In 2024 alone, China’s monthly wafer production jumped 15% year-on-year, with local chipmakers accounting for 15% of global foundry capacity, a figure set to rise substantially by the decade’s end. The construction of new semiconductor fabrication plants, such as Huahong’s 12-inch facility in Wuxi, compounds the scale and speed of China’s manufacturing ramp-up.

Geopolitical tensions and Taiwan’s export crackdown

China’s doubling down in this area comes at a time of rising geopolitical pressures. Just three weeks ago, Taiwan imposed strict new export controls targeting Chinese firms like Huawei and SMIC, effectively blacklisting them from accessing advanced Taiwanese semiconductor technologies.

As CryptoSlate reported, this move aligns Taiwan more closely with U.S. policy and aims to close loopholes exploited by Chinese companies to circumvent existing sanctions. The updated rules require government approval for any high-tech exports to the blacklisted entities, further isolating China’s chip sector from cutting-edge global supply chains.

China chipmaking: implications for the AI and crypto sectors

The outcome of this capacity race impacts both the AI and crypto industries. Semiconductors are the backbone of AI model training and inference, as well as crypto mining operations. Despite export bans, Chinese firms like Huawei and SMIC are developing competitive AI chips, but the loss of access to leading-edge Taiwanese tech could slow their progress and increase reliance on domestic innovation.

For the crypto sector, chip supply constraints can directly impact mining efficiency and network security. U.S. and Taiwanese restrictions have already raised operational costs for Chinese mining firms. If China succeeds in scaling its foundry capacity and closing the technology gap, it could stabilize domestic supply for crypto miners and AI developers, potentially reshaping the competitive landscape for both sectors.

Robert Triggs / Android Authority

Wouldn’t you know it? Regulation and red tape are to blame

Rita El Khoury / Android Authority

International transport rules cap single-cell li-ion capacity at 20Wh, roughly 5,300mAh.

Why do some phones still have 6,000mAh batteries?

Joe Maring / Android Authority

More expensive split-cell designs are one way to boost phone battery life to new highs.

Marc Andreessen, co-founder of the Andreessen-Horowitz venture capital (VC) firm, said that the current race to establish dominance in the artificial intelligence sector is analogous to the Cold War between the United States and the Soviet Union in the second half of the 20th Century.

In an interview with Jack Altman on the Uncapped Podcast, the VC said different jurisdictions and cultures will likely demand AI models trained on material aligned with their notions of acceptable social organization. Andreessen told Altman:

“There is a two-horse race. This is shaping up to be the equivalent of what the Cold War was against the Soviet Union in the last century. It is shaping up to be like that. China does have ambitions to basically imprint the world on their ideas of how society should be organized.”

The VC said that AI will be the “future control layer for everything,” acting as the interface human beings use to access critical infrastructure and services across the healthcare, education, transportation, and legal domains.

“If you had a choice between AI with American values versus the Chinese Communist Party values. It is just crystal clear where you would want to go,” Andreessen added.

Artificial intelligence continues to be a technological sector with geopolitical implications, as world leaders, including United States President Donald Trump, have vowed to make their countries global leaders in AI over the next several decades.

Related: AI-powered OSINT tool profiles YouTube users, raising privacy concerns

Consumer fears about AI and the future of civilization persist

A recent paper from tech giant Apple asserted that contemporary AI models are still a long way from achieving artificial general intelligence (AGI).

However, this has not stopped analysts, consumers, and even software developers from sounding the alarm on the dangers of artificial intelligence and its potential effects on human civilization.

These scenarios span a wide range of potentially destructive consequences borne of AI development, including displacing human workers, automatically activating military weapons platforms, cyberattacks launched by rogue machines, and even subverting the democratic process by spreading misinformation.

Magazine: AI is good for employment says PWC — Ignore the AI doomers: AI Eye

]]> https://earlybirdsinvest.com/ai-race-between-us-and-china-resembles-cold-war-marc-andreessen/feed/ 0 42233 https://earlybirdsinvest.com/bitcoin-dips-as-trump-finalizes-tariff-deals-with-china/ https://earlybirdsinvest.com/bitcoin-dips-as-trump-finalizes-tariff-deals-with-china/#respond Thu, 12 Jun 2025 07:08:05 +0000 https://earlybirdsinvest.com/bitcoin-dips-as-trump-finalizes-tariff-deals-with-china/