Apple

After Weeks of Being Locked Down, Workers Clash With Guards at an Apple Supplier’s Factory in Shanghai

A worker looks past a fence in a compound during a Covid-19 coronavirus lockdown in the Jing’an district of Shanghai on May 25, 2022. HECTOR RETAMAL/AFP via Getty Images By Bloomberg May 27, 2022 1:30 AM EDT Violent clashes, mounting infections and vacant factory floors: the turmoil that’s engulfed tens of thousands of workers at…

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A worker looks past a fence in a compound during a Covid-19 coronavirus lockdown in the Jing’an district of Shanghai on May 25, 2022.
HECTOR RETAMAL/AFP via Getty Images

May 27, 2022 1:30 AM EDT

Violent clashes, mounting infections and vacant factory floors: the turmoil that’s engulfed tens of thousands of workers at an Apple Inc. supplier in Shanghai is a troubling symptom of China’s extreme efforts to keep factories humming during its worst Covid outbreak since 2020.

Trapped in a bubble for almost two months, locked down by government decree and walled off from the outside world, Quanta Computer Inc.’s mostly low-wage workers are demanding more freedom and beginning to revolt against their overseers, people familiar with the matter said, asking not to be identified for fear of reprisals.

Hundreds of workers have clashed with guards. A large contingent, worried that their supplies would run out should the lockdown persist, flooded past guarded isolation barriers earlier this month in search of daily necessities, according to several employees. Over the past weekend, media reports went viral of a large group storming a dormitory housing Quanta’s Taiwanese managers after a dispute over the prolonged lockdown and pay — triggering an hours-long standoff confirmed by several workers within the compound.

The incidents underscore how sentiment is souring on a lockdown that’s up-ended the lives of 25 million Shanghainese since March.

“People are getting frustrated and tired of these controls,” one of the workers said. “That’s inevitable, especially when there is no timeline on when all this will end.”

Read More: Shanghai’s COVID-19 Lockdown Pushes Residents to the Brink

Quanta and Apple representatives declined to comment for this story. In April, Quanta said in a filing to the Taiwan exchange that it was halting production at its Shanghai site and adopting measures in compliance with the local government’s regulations to protect its staff.

The upheaval at one of the most prominent manufacturers operating out of the affluent eastern Chinese region adds to the growing tumult across society and industry over virus curbs. The speed with which the situation escalated in Shanghai — home to marquee names from Tesla Inc. to General Motors Co. — is a stark warning to policy makers trying to stamp out infections through unprecedented quarantine measures. Worker unrest risks disrupting a vast manufacturing sector at a time China’s struggling to meet its official 5.5% growth target.

It’s not just laborers. In past months, college students in Beijing have rebelled; housing compounds have staged protests; and social media users posting critical videos have tried to outwit an army of censors.

Yet the chaos at Quanta exposes a more consequential breakdown in Beijing’s Covid Zero strategy: China’s mandarins have insisted that the world’s No. 2 economy can keep going amid lockdowns, through measures like those now in force at the MacBook maker. The reality is far more complicated.

Travelers wait for their trains at Hongqiao Railway Station in Shanghai, China Sunday, May 22, 2022.
MING DE/ Feature China/Future Publishing via Getty Images

The economic impact of China’s zero-COVID strategy

It’s unclear how widespread factor

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Bitcoin Grapples with $100K as Rally on Trump’s Crypto-Positive Comment Fizzles

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Bitcoin Grapples with $100K

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Bitcoin Grapples with $100K

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WhiteBIT and Visa launch crypto debit card with cashback

The WhiteBIT Nova card allows EU users to spend crypto directly with no conversions. The debit card offers up to 10% BTC/WBT cashback with customizable daily spending categories. Backed by Visa, the debit card supports Apple Pay, with €10K daily and €25K monthly limits. WhiteBIT, one of Europe’s largest cryptocurrency exchanges and a partner of


  • The WhiteBIT Nova card allows EU users to spend crypto directly with no conversions.
  • The debit card offers up to 10% BTC/WBT cashback with customizable daily spending categories.
  • Backed by Visa, the debit card supports Apple Pay, with €10K daily and €25K monthly limits.

WhiteBIT, one of Europe’s largest cryptocurrency exchanges and a partner of FC Barcelona, FC Trabzonspor, ESL Faceit, and Visa, has introduced the WhiteBIT Nova, a debit card with cashback rewards in collaboration with Visa.

The debit card will allow European Union (EU) residents to seamlessly integrate cryptocurrencies into their everyday spending, offering a practical and rewarding way to utilize digital assets.

The WhiteBIT Nova card features

Issued by Wallester AS, a leading card issuing platform in Europe, the WhiteBIT Nova card is backed by Visa’s global network. This partnership not only provides extensive acceptance worldwide but also integrates with Apple Pay, allowing for secure and contactless payments.

The card’s daily spending limit is set at 10,000 EUR equivalent, with a monthly limit of 25,000 EUR, offering flexibility for users who wish to use their digital assets in more substantial transactions.

Unlike traditional bank cards, the WhiteBIT Nova card requires no initial deposit to activate, and there are no fees for opening or closing the card. The card can be used both as a digital version, available instantly through the WhiteBIT app and as a physical card, which is delivered within 10 business days for a fee of up to €10.

This flexibility allows users to choose between immediate convenience and traditional card use.

Another of the standout features of the WhiteBIT Nova card is its support for multiple cryptocurrencies, including USDC, BTC, ETH, XRP, SOL, NEAR, ADA, AVAX, WBT, and DOGE. This enables users to spend a wide range of digital assets directly, without the need for conversions.

Furthermore, the card offers up to 10% cashback as a standard feature, paid in Bitcoin (BTC) or WhiteBIT Coin (WBT).

Users can select cashback categories like groceries (1%), food/restaurants (3%), medicine (3%), taxi (3%), pet supplies (5%), and subscriptions (10%). They can adjust these categories daily, allowing them to maximize their rewards based on their spending habits.

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Nasty C Expresses Gratitude To Fans Following Impressive Apple Music Replay Stats

The post Nasty C Expresses Gratitude To Fans Following Impressive Apple Music Replay Stats appeared first on SA Hip Hop Mag. Nasty C Expresses Gratitude To Fans Following Impressive Apple Music Replay Stats. South African rap sensation Nasty C has taken to social media to express his heartfelt gratitude to his global fanbase…

The post Nasty C Expresses Gratitude To Fans Following Impressive Apple Music Replay Stats appeared first on SA Hip Hop Mag.
Nasty C Expresses Gratitude To Fans Following Impressive Apple Music Replay Stats. South African rap sensation Nasty C has taken to social media to express his heartfelt gratitude to his global fanbase…
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Coinbase App Gets Left Behind as Memecoin Craze Drives Traders On-Chain

Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Coinbase App Gets Left Behind as Memecoin Craze Drives Traders On-Chain Phantom, a crypto wallet with a steeper learning curve, is ahead of exchange giant Coinbase in the Apple App Store rankings. By Danny Nelson| Edited by Nick Baker Updated Nov

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Coinbase App Gets Left Behind as Memecoin Craze Drives Traders On-Chain

Phantom, a crypto wallet with a steeper learning curve, is ahead of exchange giant Coinbase in the Apple App Store rankings.

By Danny Nelson|Edited by Nick Baker
Updated Nov 22, 2024, 5:51 p.m. UTCPublished Nov 22, 2024, 5:48 p.m. UTC
The newly popular Phantom wallet (CoinDesk)

The newly popular Phantom wallet (CoinDesk)
  • Phantom, a decentralized crypto wallet, has overtaken Coinbase (COIN) in the Apple App Store rankings, reflecting an on-chain shift as traders embrace high-risk memecoins.
  • TikTok videos are teaching people how to navigate wallets that are harder to use than centralized exchanges like Coinbase.
  • “Traditional centralized exchanges can’t keep up with all of the new on-chain paradigms fast enough,” Phantom CEO Brandon Millman said.

It’s long been a cryptocurrency maxim that Coinbase’s (COIN) ranking in app store downloads signals how much retail traders are participating in a bull market. Well, the bull run’s here, and Coinbase isn’t climbing charts like it used to.

Instead, Phantom, a harder-to-use crypto wallet, has leapfrogged the better-known centralized exchange. At press time, Phantom was in seventh place among free applications — between Temu and Google — on Apple’s U.S. App Store, well ahead of Coinbase at 27th.

The flip is challenging expectations of what mainstream traders can tolerate during their first days in crypto. While the bitcoin community in particular has always emphasized “being your own bank,” other parts of the cryptoverse, like Coinbase, have bet on a more accessible experience.

Memecoin mania is blowing that up. Coinbase and other established exchanges don’t list the bottom-of-the-barrel, hours-old, exceptionally risky yet sometimes tremendously lucrative (if you don’t lose your shirt, as most do) joke tokens that new traders want to bet on. To get those, they gotta go on-chain with something like Phantom.

“Traditional centralized exchanges can’t keep up with all of the new on-chain paradigms fast enough,” said Phantom CEO Brandon Millman in an email.

Chill Guy, TikTok

In the past week, one memecoin in particular, Chill Guy, caught plenty of attention on TikTok and even more bids on-chain. Bolstered by a coordinated social media marketing campaign, CHILLGUY — whose mascot is, well, a chill-looking dog — soared in days from a market cap of basically nothing to as high as $500 million.

Buying CHILLGUY and other fresh memecoins requires a bit more effort than, say, buying bitcoin (BTC) on Coinbase. Traders must navigate decentralized exchanges and learn to futz with finicky order settings just to get the prices they want. It’s a clunky setup with a high learning curve compared to the exchanges.

Whether TikTok is primarily responsible for driving newcomers on-chain is an open question. The video app’s exceptionally niche crypto scene doesn’t have any truly standout videos racking up millions of views, as those de rigueur dance routines often do. More common are the oodles of low-viewership crypto bros crowing about their gazillionaire designs. A handful also teach their followers how to download Phantom.

Coinbase is onboarding memecoins, to be sure. In the past week, it greenlit FLOKI and PEPE, as well as WIF for German traders. Those tokens have been around a relatively long time and accrued market caps in the billions of dollars, making them more stable (relatively speaking) than, say, DIDDYOIL, a memecoin only accessible to traders who operate on-chain.

“Our mission is to increase economic freedom in the world, and we know we can’t do it alone,” a spokesperson for Coinbase said. “We believe a rising tide raises all boats, and we are thrilled to see more people engaging on-chain and with crypto over the last few weeks.”

While the Coinbase exchange itself is only tiptoeing into the memecoin space, the company at large is attempting to foster — and capture — such activity with its layer-2 network, Base. Base’s memecoin scene isn’t at the level of Solana (SOL), but it still sees millions of dollars worth of volume each day.

“We’re focused on making on-chain faster (transactions anywhere across the globe in seconds), cheaper (with typical Base fees of less than 1 cent) and easier to use, so on-chain technology is accessible to anyone, anywhere in the world,” the spokesperson said.

“We’re looking forward to bringing a billion people on-chain.”

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Danny Nelson

Danny is CoinDesk’s managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.

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