Over the Last Year, Bitcoin's Market Cap Slid From the World's 8th Most Valuable Asset to the 26th Position

In Nov. 2021, bitcoin’s market valuation managed to make it into the top ten list of assets ranked by market capitalization, as it was the eighth largest market cap last year on Nov. 9. Since then, bitcoin is 75% lower in value against the U.S. dollar and the leading crypto asset’s market capitalization has dropped down to the 26th largest position among the most valuable assets and companies worldwide.
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The Real Estate Phoenix Rises From The Ashes, Week In Review

Asian equity markets had a mixed performance week as Hong Kong, and Mainland China were the only markets to end the week higher on China reopening and the real estate rebound. China’s Politburo met on Tuesday as policymakers gear up for the Central Economic Work Conference (CEWC) next week, which led to increased reopening signaling from the government.

Transformers: Reactivate is a new co-op action game from Splash Damage

Transformers: Reactivate has been announced for PC and consoles. The 1-4 player online action game was revealed at The Game Awards with a trailer that’s viewable below. It’s being developed and published by Splash Damage, the London-based studio behind Gears Tactics, Wolfenstein: Enemy Territory and Dirty Bomb, with a closed beta scheduled for 2023.

Blockchain technology makes millennium-old grottoes more accessible

LANZHOU, Dec. 9 (Xinhua) -- China launched a cultural heritage digital platform supported by blockchain technology to share digital renderings of six millennium-old grottoes sites in northwest China's Gansu Province with people around the world Thursday. Jointly developed by the Dunhuang Academy and Chinese tech giant Tencent, the platform can...

Miyazaki teases Elden Ring DLC or sequel: 'We want to do several more things'

FromSoftware's Hidetaka Miyazaki teases more Elden Ring content, which could range from new DLC/expansions or a fully-blown sequel to the hit RPG. Elden Ring is FromSoftware's most successful game ever, and the studio wants to do a lot more things with the landmark RPG series. FromSoftware's macabre mastermind Hidetaka Miyazaki...

Tencent’s Undawn to get released in Korea soon as it passes the local rating classification

Tencent’s post-apocalyptic, co-op zombie-survival title, Undawn has passed the local rating classification and is set to be released very soon in Korea. The game has reportedly been rated in Korea and can hit the market very soon, reported Inven. Tencent originally planned for the game to be released on a global stage in 2021, but due to some rating issues was not able to release it last year.

Taiwan calls TikTok ‘harmful to national security’

Taiwan has joined several U.S. states in banning TikTok from communication devices in the public sector on security concerns over the world’s most downloaded app. Taiwanese media reported earlier this week that the video-hosting service and its Chinese version Douyin, both owned by Chinese firm ByteDance, have been restricted from being installed and used in government offices and on public devices.

Splash Damage acquires Bulkhead to develop new Transformers shooter

Splash Damage has acquired Battalion 1944 and The Turing Test developer Bulkhead Games for an undisclosed fee. The UK studio, which is owned by Chinese company Tencent, broke the news in a press release announcing new shooter Transformers: Reactivate. Transformers: Reactivate was announced during The Game Awards 2022—see the full...

Top Chinese companies saw valuations crumble in 2022: report

Thirty-five Chinese companies are listed on the Hurun Global 500 for 2022, 12 fewer than last year, a report conducted by Hurun Research Institute shows. Last year’s highest-ranking Chinese firm, tech giant Tencent, has fallen 20 places on the list and has been surpassed by Taiwanese chipmaker TSMC, with the latter being valued at RMB 2.3 trillion ($328 billion). The report states that the value of China’s top companies has fallen by more than 50% in the past year amid a weak economy and the country’s crackdown on the tech sector, with Alibaba, Xiaomi, and Tencent down 71%, 67%, and 62% respectively. Chinese companies who made the 2021 ranking but failed to make this year’s list include short video platform Kuaishou, ride-hailing company DiDi, pharmaceutical firm WuXi Biologics, and EV startup Nio. Ranking 184 last year, Kuaishou lost nearly four times its value in 2022. The report also pointed out that the value of 340 companies around the world declined or remained unchanged from last year, though Apple still retained the top spot with a valuation of $2,366 billion. [Hurun, in Chinese]

Getir acquires rapid grocery rival Gorillas for £1bn

Getir has announced the £1bn ($1.2bn) acquisition of rapid grocery delivery rival Gorillas, following months of speculation. The move is further indication of industry consolidation and a tightening down, which is seeing quick commerce companies merging to combining strong customer bases with quick commerce expertise. Getir will acquire Gorillas...