Tencent is finally joining the web3 wild west

China’s web3 community is rallying around the news of Tencent’s march into the decentralized land. On Wednesday, the social and gaming giant held its first global web3 summit in Singapore, which has emerged as a refuge for China’s blockchain developers after Beijing cracked down on cryptocurrencies in 2021.
It’s hard to overlook the timing of the event. On Monday, Hong Kong announced plans to let retail investors trade Ether and Bitcoin starting in June, a boost of confidence that China might have softened its stance on cryptocurrencies.
As we speculated, China probably

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