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The future of crypto in China
China’s crackdown on cryptocurrency mining has shut down more than 90% of the country’s bitcoin production capacity. What does this mean for China’s role in world’s cryptocurrency markets and how does its ever-increasing regulation impact the global market as a whole? Join SupChina and the Penn Wharton China Center’s panel of cryptocurrency experts as they break down China’s future role in the world of crypto.
China has been the largest miner of bitcoin for most of the cryptocurrency’s existence. However, the Chinese government has now effectively banned the use and trade of crypto within its borders. At the same time, China is pushing forward with testing its state-managed digital yuan. Earlier this year, the trials expanded into rural suburbs in China’s northeast, and in June, Hong Kong announced that it would test “connecting China’s digital yuan with its domestic payments network.”So what does this mean for China and crypto? Will other countries follow suit and regulate crypto out of existence? Or will the industry continue to advance globally while leaving China at a disadvantage in the international adaption of decentralized finance? Join SupChina and the Penn Wharton China Center’s panel of cryptocurrency experts as they break down China’s future role in the world of crypto.
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Ex-COO, Ex-CPO, Bitmain, largest Bitcoin mining ASIC manufacture; Recent Defi, NFT infrastructure projects; Mega Fund, venture capital focus on high-tech startups in China
Phillip has many years of experience both in China and the United States, focusing on developing blockchain infrastructure technology, Defi and NFTs, central bank digital currency projects, His track record includes the successful restructuring of Honghe Lighting, a publicly listed company in China, and the restructuring of Hualing Group’s Hong Kong IPO and other mergers and acquisition. He created a solid relationship with People’s Bank of China, especially with the institute of digital money, and Bank of China. He was the second-largest shareholder of The China Jining Bank. He has a very strong knowledge in finance and asset management. He led the team that successfully established and managed several funds including DongFang Yongtai Fund, and has established a solid reputation in China’s private equity circle. His team has managed to maintain the internal rate of return at 40% over several years. Phillip received his Bachelor of Engineering from Tsinghua University and his M.S in Economics from UPenn.
Joseph Eagan is the founder and CEO of Acme Crypto Holdings. Prior to launching ACH, Joe was the president of Polychain Capital, one of the first and largest crypto focused investment groups globally. Before getting into crypto in 2017, Joe spent 17 years in traditional finance - most recently as the COO of a long/short equity fund, Tiger Legatus. From 2008 to 2014, Joe was a Principal at Investcorp focusing the Firm’s Hedge Fund seeding business. Prior to joining Investcorp, Joe managed risk arbitrage and special situations portfolios at several hedge funds. Joe began his career at Bank of America in the media and telecom investment banking division. Joe holds a BA in political science from Georgetown University, Washington DC.
Lionel Yuan is the CEO and Co-Founder of DeSyn Protocol. Before that, Lionel was the former COO and China CEO of Lightnet Group as well as the CSO and partner at YEAHMOBI (IPO). Lionel has over 13 years of global internet and fintech experience. His main focus has been on investment, products and innovations, and he has previously worked in Baidu, Blackrock, and Tudor Investment.