Some Highlights of Recent Chinese Tech Events

Those who watch the world of Chinese finance closely won't be surprised there's a new richest Chinese person in the world today. CZ is the founder of Binance. Caijing Magazine, based in Hong Kong, has named him the world's richest Chinese person. His net worth is said to be around ninety billion dollars. He easily beats out Zhong Shanshan. Shanshan made his reported sixty-six billion dollar fortune in bottled water. CZ is relatively unknown in his home country. That's in part because Binance has often been at odds with the company's officials. His company is often not seen in searches. He lives in Singapore. Other people on the list include Pony Ma who founded Tencent and an electric car battery maker.

English Only SocialFi

Monaco is a decentralized social network. They've employed many techniques to get users to sign up for this service. This includes the possibility of an air drop that will reward users for activities such as gaining likes and getting followers. Many users have signed up via invite codes that have dropped from Chinese crypto channels. Users were startled when the network announced that English is the future of the net. In fact the social network stated that only posts written in English would count for any content mining. This statement led to a flurry of furious comments on Twitter. Many Chinese users were upset with this policy.

Huobi Group Makes Important Announcement

Du Jun is the founder of the important Chinese Huobi Group. He's told officials at Bloomberg News that the company will be centering their plans for a regional headquarters in Shanghai. On November 25, the company decided to launch their MonoX Finance’s MONO token. This was placed on the company's Huobi Primelist. Unfortunately, a few days later their system was massively hacked. More than thirty million dollars was stolen from them. This leaves many users deeply unhappy. They're particularly unhappy as the token price has dropped drastically in value. In fact, it's dropped by over thirty percent. This happened during the first week it was issued by the company.