Jack Zhang, CEO of Airwallex, discusses why the company is not supporting cryptocurrencies at the moment.

A logo of of Lufax website Lu.com, is seen at the company’s headquaters on May 28, 2020 in Shanghai, China. Wu Jun | Visual China Group | Getty Images GUANGZHOU, China — Chinese lending and wealth management firm Lufax is seeking up to $2.36 billion from a U.S. initial public offering (IPO). Earlier this month, the Shanghai-headquartered firm, which is backed by financial giant Ping An Group, said it planned to list on the New York Stock Exchange under the ticker “LU.” It has now released...

Blockchain technology matejmo | iStock | Getty Images China’s major technology giants are among a group of organizations that have joined a national committee focused on creating standards for blockchain technology. The move is part of major push by the world’s second-largest economy to become a leader in the nascent space after President Xi Jinping last year urged the country to “seize the opportunities” presented by the technology. E-commerce giant JD.com, telecommunications equipment maker...

Chinese President Xi Jinping Aris Messinis | Pool | Reuters China is poised to take the lead in blockchain after it was given strong backing by the country's leader President Xi Jinping, experts told CNBC. The move could allow the world's second-largest economy to control the development of the nascent technology in the absence of competition from other regions like Europe and the U.S. Blockchain refers to a technology which began with the cryptocurrency bitcoin. In that case, its role was an...

The price of bitcoin could nosedive to zero, a top investor in the crypto space told CNBC during a debate, which focused on the future of the underlying technology known as blockchain. Cryptocurrencies had a wild year in 2018, with over $480 billion of value wiped off the entire market, according to data from Coinmarketcap. After hitting a record high in 2017, bitcoin, the world's largest cryptocurrency by market capitalization, fell dramatically. It was trading at $3,571 at around 11.15 a.m....