The presenters of CCTV, China Central Television, discussed cryptocurrencies. Among other things, about Ethereum and DeFi.
It should be noted that China is considered one of the most important players in the cryptocurrency market. In fact, China’s crypto laws are very strict.
In recent years, China has suffered a heavy crackdown on most cryptocurrencies. Late last year, the Well-liked Bank of China Shanghai Lender singled out ICOs as illegal.
Precisely, at the beginning of the year, there were reports of local governments seeking to take action. Mainly, against local mining operations on cryptocurrencies.
The China State Television segment on cryptocurrencies
China Central Television, a state broadcaster with 1 billion viewers. He broadcast a segment on cryptocurrencies and other topics.
In this regard, Matthew Graham, CEO of Sino Global Capital. He shared on his Twitter account the segment broadcast by the CCTV China State Television.
Precisely, the segment covered how cryptocurrencies have performed well to date. Outperforming gold.
Also, in one part of the video, the presenters discussed Ethereum. Noting, that it is the leader in the cryptocurrency market, having surpassed Bitcoin, XRP and several other major Altcoins.
Also, they mentioned DeFi. As well as concerns about inflation in fiat currencies.
Previous segment where it is branded as financial fraud
Certainly the November 2019 Focus Report program, called “Blockchain is not an ATM machine”. A current affairs show that is screened on the Chinese state television channel. Specifically, he indicated that cryptocurrencies are a “financial fraud”.
According to, there are 102 cryptocurrencies that are “pyramid schemes”Fraudulent and more than 755 tokens are“money grabbing schemes”. These statements were made after several weeks in which the Chinese government expressed its movements for the adoption of Blockchain technology in the country.
DeFi Future Growth
In these circumstances, several analysts see the arrival of Chinese investors as critical to the future development of DeFi.
So, Andrew Kang, founder of Mechanism Capital, commented that Chinese investment in cryptocurrencies became his “own beast”. Presumably, referring to what happened in 2017 and 2018 and that China was key in this.
Other analysts made similar comments. Pointing out the importance of hundreds of millions of investors and their views on cryptocurrencies.
It should be noted that most are well informed about cryptocurrencies and the basics. But, they are waiting for the government to give them instructions on what to do.
Other Investor Opinions
Similarly, Jason choi, an investor in Hong Kong-based The Spartan Team, put the China situation well when he wrote:
“DeFi is gaining momentum. Still below 5% of the whole capitalization of the cryptocurrency market ”.
Likewise, Anastasia Andrianova, founder of Akropolis, said that: “He believed that DeFi offers the opportunity to attract large amounts of capital”.
However, Ding Yunpeng, founder and CEO of the DeFi Golff project, believes that: “The funds invested in DeFi. They are still relatively small today”.
Similarly, on September 25, during a live broadcast on China’s Hub. Da Hongfei, the founder of Neo said: “The hype around DeFi isn’t fading. Is only beginning”.
To conclude, CCTV has caught the attention of the local crypto community. Highlighting, that cryptocurrencies have surpassed gold.
Do you agree with what was discussed by the presenters of China Central Television regarding cryptocurrencies? Leave us your opinion in the comment box.
I say goodbye with this phrase from Gilbert Cesbron: “Television provides us with topics to think about. But it doesn’t leave us time to do it”.
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