Pudgy Penguins

<h2 class="wp-block-heading" id="pudgy-penguins-making-enemies-in-india-p-non-fungible-token-brand-pudgy-penguins-has-drawn-backlash-over-a-now-deleted-post-on-x-that-singled-out-indian-social-media-users-p-figure-class-wp-block-image-alignright-size-full-is-resized-img-width-798-height-917-src-https-s3-magazine-cointelegraph-com-magazine-wp-content-uploads-2026-01-pudgy-penguins-india-jpg-alt-indian-x-users-slam-pudgy-penguins-now-deleted-tweet-class-wp-image-56196-figcaption-class-wp-element-caption-em-x-users-outraged-at-pudgy-penguins-social-media-post-em-a-href-https-x-com-0xmj_-status-2011873025801753049-rel-noopener-noreferrer-nofollow-em-0xmj-em-a-em-em-figcaption-figure-p-the-controversy-followed-a-recent-announcement-by-x-product-head-nikita-bier-that-the-platform-will-prohibit-applications-from-rewarding-users-for-posts-a-category-often-referred-to-as-infofi-citing-the-spread-of-ai-generated-spam-and-low-quality-content-p-p-in-crypto-circles-the-change-affects-users-who-earn-rewards-by-farming-engagement-including-so-called-yaps-on-platforms-such-as-kaito-p-p-in-response-to-biers-announcement-the-pudgy-penguins-x-account-posted-this-change-might-actually-have-a-significant-effect-on-indias-economy-p-p-while-some-users-identifying-themselves-as-indian-a-href-https-x-com-zeneca-status-2011876193214304364-rel-noopener-noreferrer-nofollow-said-a-they-found-the-post-humorous-others-did-not-take-it-as-lightly-several-accused-the-brand-of-promoting-racist-stereotypes-prompting-further-criticism-after-the-pudgy-penguins-account-manager-appeared-to-follow-up-by-saying-the-post-was-intended-for-farming-yaps-p-p-other-commenters-a-href-https-cointelegraph-com-magazine-pudgy-penguins-ceo-praise-actually-pretty-sad-nft-creator-rel-noopener-noreferrer-nofollow-said-a-the-issue-went-beyond-racism-arguing-the-post-reflected-poor-brand-judgment-for-a-project-that-a-href-https-cointelegraph-com-magazine-pudgy-penguins-ceo-praise-actually-pretty-sad-nft-creator-rel-noopener-noreferrer-nofollow-markets-itself-as-family-friendly-a-p-p-pudgy-penguins-later-deleted-the-post-the-company-did-not-respond-to-magazines-request-for-comment-p">Pudgy Penguins making enemies in India<p>Non-fungible token brand Pudgy Penguins has drawn backlash over a now-deleted post on X that singled out Indian social media users.</p><figure class="wp-block-image alignright size-full is-resized"><img width="798" height="917" src="https://s3.magazine.cointelegraph.com/magazine/wp-content/uploads/2026/01/Pudgy-Penguins-India.jpg" alt="Indian X users slam Pudgy Penguins now-deleted tweet" class="wp-image-56196"><figcaption class="wp-element-caption"><em>X users outraged at Pudgy Penguins social media post. (</em><a href="https://x.com/0xmj_/status/2011873025801753049" rel="noopener noreferrer nofollow"><em>0xmj</em></a><em>)</em></figcaption></figure><p>The controversy followed a recent announcement by X product head Nikita Bier that the platform will prohibit applications from rewarding users for posts, a category often referred to as infofi, citing the spread of AI-generated spam and low-quality content.&nbsp;</p><p>In crypto circles, the change affects users who earn rewards by farming engagement, including so-called yaps on platforms such as Kaito.</p><p>In response to Biers announcement, the Pudgy Penguins X account posted, This change might actually have a significant effect on Indias economy.</p><p>While some users identifying themselves as Indian <a href="https://x.com/Zeneca/status/2011876193214304364" rel="noopener noreferrer nofollow">said</a> they found the post humorous, others did not take it as lightly. Several accused the brand of promoting racist stereotypes, prompting further criticism after the Pudgy Penguins account manager appeared to follow up by saying the post was intended for farming yaps.</p><p>Other commenters <a href="https://cointelegraph.com/magazine/pudgy-penguins-ceo-praise-actually-pretty-sad-nft-creator/" rel="noopener noreferrer nofollow">said</a> the issue went beyond racism, arguing the post reflected poor brand judgment for a project that <a href="https://cointelegraph.com/magazine/pudgy-penguins-ceo-praise-actually-pretty-sad-nft-creator/" rel="noopener noreferrer nofollow">markets itself as family-friendly</a>.</p><p>Pudgy Penguins later deleted the post. The company did not respond to Magazines request for comment.</p></h2><h2 class="wp-block-heading" id="ex-digital-yuan-boss-received-ether-bribes">Ex-digital yuan boss received Ether bribes</h2><p>A state television documentary has alleged that former Peoples Bank of China official Yao Qian accepted 2,000 ether in bribes and later cashed out part of the holdings.</p><p>According to state broadcaster <a href="https://www.12371.cn/2026/01/14/VIDE1768397521996488.shtml" rel="noopener noreferrer nofollow">CCTV</a>, Yao received 2,000 ether in 2018 from a crypto entrepreneur with the surname of Zhang in exchange for using his influence to help facilitate a token issuance and overseas exchange listing. Investigators also said Yao accepted an additional 12 million yuan&nbsp; (about $1.72 million) in cash bribes.</p><figure class="wp-block-image aligncenter size-full is-resized"><img width="977" height="546" src="https://s3.magazine.cointelegraph.com/magazine/wp-content/uploads/2026/01/Former-PBOC-official-Yan-Qian.jpg" alt="Former PBOC official Yan Qian" class="wp-image-56190"><figcaption class="wp-element-caption"><em>Investigators tell state broadcaster CCTV that a Beijing villa purchase led to Yao’s removal from office. (CCTV)</em></figcaption></figure><p>Yao later liquidated 370 ETH in 2021, generating roughly 10 million yuan, or $1.43 million. Investigators said their suspicions intensified after funds traced to the ether liquidation were used to help pay for a Beijing villa worth more than $2.9 million, which was registered under the name of Yaos relative.</p><p>Authorities said the case was established through a combination of on-chain transaction analysis, tracing of fiat flows and the seizure of hardware wallets from Yaos office.</p><p>Yao previously led the early development of Chinas central bank digital currency, the digital yuan. He was placed under investigation in April 2024, expelled from the Communist Party and removed from public office in November over <a href="https://cointelegraph.com/magazine/digital-yuan-crypto-heavyweights-institutions-asia-express/" rel="noopener noreferrer nofollow">crypto bribery allegations</a>.</p><p>Several major cryptocurrency-related activities have been banned in phases in China, including a <a href="https://cointelegraph.com/magazine/china-crypto-ban-investors/" rel="noopener noreferrer nofollow">crackdown on mining and trading in 2021</a>.</p><div class="article-suggest"><div class="article-suggest__title display3"> Read also </div><div class="article-suggest__items"><div class="article-suggest__item"><a href="https://cointelegraph.com/magazine/bitcoin-etf-coinbase-honeypot-hackers-government-trezor-ceo/" class="article-suggest__subtitle display4" rel="noopener noreferrer nofollow"><span>Features</span><p>Bitcoin ETFs make Coinbase a honeypot for hackers and governments: Trezor CEO</p></a></div><div class="article-suggest__item"><a href="https://cointelegraph.com/magazine/gaming-guilds-position-themselves-2024-bull-market/" class="article-suggest__subtitle display4" rel="noopener noreferrer nofollow"><span>Features</span><p>Which gaming guild positioned itself best for the bull market?</p></a></div></div></div><h2 class="wp-block-heading" id="japans-largest-card-company-tests-stablecoin-payments">Japans largest card company tests stablecoin payments</h2><p>Japanese credit card network JCB, banking group Resona Holdings and fintech firm Digital Garage have announced a stablecoin pilot aimed at retail payments.</p><p>The pilot will test in-store payments using US dollar and Japanese yen-denominated stablecoins at physical retail locations.</p><p>JCB, Japans largest domestic card network, will oversee the infrastructure needed for merchants to accept stablecoin payments from both local consumers and tourists. While widely used in Japan, JCBs international reach is more limited than that of Visa or Mastercard.</p><p>Japan was among the first major economies to <a href="https://cointelegraph.com/magazine/rwa-hail-mary-china-thai-big-secret-crypto-hack-asia-express/" rel="noopener noreferrer nofollow">approve and launch a regulated stablecoin</a> pegged to its local currency. Other jurisdictions have since accelerated their own stablecoin regulatory efforts following the passage of the GENIUS Act in the US.</p><figure class="wp-block-image aligncenter size-large is-resized"><img width="1024" height="613" src="https://s3.magazine.cointelegraph.com/magazine/wp-content/uploads/2026/01/Japan-cashless-payment-ratio-1024x613.jpg" alt="Japan cashless payment ratio" class="wp-image-56193"><figcaption class="wp-element-caption"><em>Japan’s stablecoins arrive as the nation’s cash reliance continues to drop. (</em><a href="https://www.meti.go.jp/english/press/2025/0331_001" rel="noopener noreferrer nofollow"><em>Ministry of Economy, Trade and Industry</em></a><em>)</em></figcaption></figure><p>Japan remains more reliant on cash than its East Asian peers, such as South Korea and China, although that dependence has been declining. Cashless payments accounted for about 30% of transactions in 2020, rising to 42.8% in 2024.</p><p>Japans stablecoin drive comes as part of broader government efforts to digitize Japans economy. Updated cashless payment figures for 2025 are expected to be released in the first quarter of 2026.</p><div class="article-suggest"><div class="article-suggest__title display3"> Read also </div><div class="article-suggest__items"><div class="article-suggest__item"><a href="https://cointelegraph.com/magazine/bitcoin-7-years-upgrade-post-quantum-bip-360-co-author/" class="article-suggest__subtitle display4" rel="noopener noreferrer nofollow"><span>Features</span><p>Bitcoin may take 7 years to upgrade to post-quantum: BIP-360 co-author</p></a></div><div class="article-suggest__item"><a href="https://cointelegraph.com/magazine/12-minutes-of-anxiety-as-ethereums-pectra-hard-fork-goes-live/" class="article-suggest__subtitle display4" rel="noopener noreferrer nofollow"><span>Features</span><p>12 minutes of nail-biting tension when Ethereums Pectra fork goes live</p></a></div></div></div><h2 class="wp-block-heading" id="south-korea-crypto-exchange-association-enters-ownership-war-with-the-government">South Korea crypto exchange association enters ownership war with the government</h2><p>South Koreas cryptocurrency exchanges have reportedly opposed a government proposal to cap ownership stakes held by major shareholders.</p><p>The Digital Asset Exchange Alliance (DAXA), an industry group representing the countrys five largest crypto exchanges, <a href="https://www.yna.co.kr/view/AKR20260113049500002?input=1195m" rel="noopener noreferrer nofollow">said</a> that it has serious concerns about apparent government plans to limit major shareholders ownership to between 15% and 20%.</p><p>Such a regulation could hinder the development of the domestic digital asset industry and market, DAXA said.</p><figure class="wp-block-image aligncenter size-large is-resized"><img width="1024" height="477" src="https://s3.magazine.cointelegraph.com/magazine/wp-content/uploads/2026/01/CoinMarketCap-1024x477.jpg" alt="Crypto exchanges ranking by CoinMarketCap" class="wp-image-56187"><figcaption class="wp-element-caption"><em>DAXA member Upbit is among the worlds largest exchanges despite its limited international reach. (</em><a href="https://coinmarketcap.com/rankings/exchanges/" rel="noopener noreferrer nofollow"><em>CoinMarketCap</em></a><em>)</em></figcaption></figure><p>The group added that the proposal could drive domestic traders to overseas platforms, potentially diluting the major shareholders accountability for the custody and management of user assets, thereby undermining the stated goal of user protection.</p><p>South Korean regulators are still drafting the <span>countrys cryptocurrency regulatory framework, after missing&nbsp;<a href="https://cointelegraph.com/magazine/sei-wallets-xiaomi-bhutans-gold-solana-asia-express/" rel="noopener noreferrer nofollow">a December deadline</a></span>. Lawmakers from the ruling party have said they plan to submit their own proposal in January.</p><p>According to industry sources cited by local media, the Financial Services Commission recently submitted a proposal to lawmakers that included the ownership cap. The FSC reportedly argued that crypto exchanges function as critical market infrastructure, making it necessary to prevent excessive concentration of profits.</p><div class="subscribe subscribe--inner"><div class="container"><div class="subscribe__inner"><div class="subscribe__content"><div class="subscribe__title display2"> Subscribe </div><div class="subscribe__desc text-l"> The most engaging reads in blockchain. Delivered once a week. </div><div class="wpcf7 no-js" id="wpcf7-f13672-o23"><div class="screen-reader-response"><ul></ul></div><p>Email address</p><p>SUBSCRIBE</p><div class="wpcf7-response-output"></div></div></div><div class="subscribe__img"><img src="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=80,width=373,dpr=1,gravity=0.5x0.5/https://s3.magazine.cointelegraph.com/magazine/wp-content/uploads/2022/10/reading-copy.png" alt="Subscribe to Magazine by Cointelegraph Newsletter."></div></div></div></div>

Indian outrage at Pudgy Penguins, China CBDC boss’s crypto scandal: Asia Express

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