China's monetary policy takes an aggressive turn as the People's Bank of China (PBoC) cuts interest rates on 14-day reverse repos by 10 basis points to 1.85%. This move, injecting ¥74.5 billion ($9.5 billion) into the financial system, aims to stimulate economic growth. The PBoC also pumped ¥160.1 billion through 7-day reverse repos, maintaining the rate at 1.7%. Experts view this as a continuation of July's monetary easing strategy.
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I was reading on reddit that china is shorting the dollar.
100M.
wow....why not just buy btc?
Maybe theyre mining it
Isnt most of the hashrate in the usa?
fun fact, during the Ming Dynasty, China experimented with the first fiat paper money, but the government printed too much of it, leading to inflation and the eventual collapse of the Yuan paper currency. This caused China to abandon paper money for centuries.
zero lessons learned