Crypto Biz: Helicopter CBDC cash rains on Shenzhen, Might 26—June 1 China’s pandemic-hit economic system wants all the assistance it could possibly get after a surge in COVID-19 infections triggered mass lockdowns throughout the nation. In an try and revive consumption, the southern metropolis of Shenzhen used Beijing’s central financial institution digital foreign money, or CBDC, to airdrop free cash to native residents. An analogous technique was used within the northern Hebei province, the place much more digital yuan was deployed. Consider all of the issues governments can do once they have full management over fiat cash on-ramps. This week’s…