CNN recently shared a list of 35 top cakes worldwide, featuring Vietnamese tapioca dumplings, also known as bánh bột lọc. Alongside dishes like Chinese xiao long bao, Italian ravioli, and Brazilian Coxinha, bánh bột lọc proudly represents Vietnam’s culinary heritage.
Vietnam’s cuisine has a special place on the world stage, and bánh bột lọc is a prime example of this. It’s a beloved snack that originated in the city of Hue, showcasing Vietnamese culinary skills and cultural identity. These handcrafted dumplings are made with water chestnut flour, which gives them their translucent outer layer that reveals the shrimp and meat inside. Bánh bột lọc is not only visually appealing but also tasty, and it blends texture and flavor perfectly.
This delicacy is not only a culinary masterpiece but also represents the warmth of family gatherings and shared meals in Vietnamese culture. Whether it’s served as a humble snack or at festive celebrations, bánh bột lọc has become a symbol of Vietnamese hospitality and culinary innovation.
As the world continues to embrace new flavors and tastes, bánh bột lọc continues to captivate hearts and palates worldwide. This timeless delicacy invites everyone to savor the rich tapestry of Vietnamese cuisine.
HashKey and the Foundation are focussing their partnership on Hong Kong in the first phase
The stewards of the TON ecosystem have formed a partnership with HashKey Group, the parent company of the Hong Kong-licensed crypto exchange of the same name.
One of the aims of the partnership is to increase provision for on- and off-ramping of crypto and fiat to Asia-Pacific users of the wallet service in messaging app Telegram.
The TON blockchain started life as an in-house project by Telegram in 2018 but was abandoned two years later following legal action from the SEC. Members of the community then formed the TON Foundation to continue its development, with Telegram’s endorsement.
HashKey and the Foundation are focussing their partnership on Hong Kong in the first phase but say they will expand to other APAC markets should their initial efforts prove a success, according to an emailed announcement on Friday.
TON’s native token, Toncoin climbed around 1.7% in the hour following the announcement, down nearly 4% in the last 24 hours. For comparison, the CoinDesk 20 Index (CD20), which shows a weighted measurement of the digital asset market, has declined around 1.3% in the same timeframe.
The Thursday total ETF flow was negative, with GBTC leading the pack
(BTC) is stable, trading above $70,900, as outflows from the Grayscale Bitcoin Trust (GBTC) pick up once again.
Overall, $124.9 million flowed out of GBTC, according to on-chain data. In comparison, $4.6 million flowed into Fidelity’s FBTC, and $11.1 million went into Bitwise’s BITB.
Up to Thursday, all the bitcoin ETFs have reported a weekly outflow of $227.9 million.
There’s currently a belief within the market that continued outflows from GBTC put selling pressure on BTC and drive down prices.
However, that belief is not universal, and some market participants have a wait-and-see approach, highlighting that outflows are expected from GBTC, given its higher fee structure.
Traders are pricing in some price stability for bitcoin in the remaining weeks of April, with bettors on Polymarket putting the chance of BTC hitting $75,000 at 60% by month’s end and the chance of it hitting $80,000 at 32%.
Here are the Facts About Vietnam That You Most Probably Didn’t Know.
Vietnam reigns as the top global supplier of cashews and black pepper, making a substantial impact on the international spice trade.
Resembling an “S” shape, Vietnam boasts a sprawling coastline stretching over 3,260 kilometers, adorned with picturesque beaches and vibrant port cities.
The stunning Halong Bay is celebrated for its jade-green waters and forest-clad limestone pillars, earning it a spot as a UNESCO World Heritage Siteand a must-visit locale.
Utilizing the Latin alphabet, the Vietnamese language adopted Quốc ngữ in the 17th century, thanks to French missionaries, to foster widespread literacy.
As one of the world’s few socialist states, Vietnam unified its northern and southern regions in 1976, forming the Socialist Republic of Vietnam post-conflict.
The Mekong Delta is fondly dubbed Vietnam’s “Rice Bowl,” responsible for a hefty portion of the nation’s rice production.
Renowned for harmonizing five flavors—spicy, sour, bitter, salty, and sweet—Vietnamese cuisine is epitomized by Pho, a beloved noodle soup now enjoying global acclaim.
The Ao Dai, Vietnam’s traditional attire, graces special events like weddings and Lunar New Year festivities, and is even a staple uniform in educational and professional settings.
Near Ho Chi Minh City, the Cu Chi Tunnels stand as a testament to the Viet Cong’s ingenuity during the Vietnam War, now transformed into a fascinating historical site.
Vietnam commemorates its liberation from French rule on September 2nd, a national holiday marking Ho Chi Minh’s 1945 declaration of independence.
The national flag features a golden star against a red backdrop, symbolizing the unity of farmers, workers, intellectuals, youth, and soldiers under Vietnam’s socialist ethos.
Hoi An, once a bustling trade hub, retains its 15th to 19th-century charm and is lauded by UNESCO for its exemplary preservation of a Southeast Asian trading port.
The colossal Son Doong Cave in Phong Nha-Ke Bang National Park is the planet’s largest cave, complete with its own weather system and room enough to house a skyscraper.
In Vietnam, motorbikes are the preferred mode of transportation, outnumbering cars and serving as the daily commute for countless residents.
Ranking second globally in coffee production, Vietnam is famed for its robust coffee culture, with ca phe sua da (iced coffee) being a local staple.
The mythic “Ascending Dragon” embodies the spirit of Vietnam, harking back to a tale of the nation’s dragon and fairy ancestry.
Tet, the Vietnamese Lunar New Year, is the pinnacle of cultural celebrations, ushering in spring according to the lunar calendar.
Hanoi’s One Pillar Pagoda, an architectural marvel, was inspired by Emperor Ly Thai Tong’s vision of a lotus, embodying purity and enlightenment.
Originating in the north, water puppetry is a unique Vietnamese performance art where puppeteers skillfully maneuver figures on a liquid stage, often to the accompaniment of an orchestra.
The love market in Sapa is a time-honored tradition where members of ethnic minorities congregate in hopes of finding companionship.
Named for the fragrant blossoms that drift into its currents, the Perfume River in Hue flows past imperial tombs and the historic Imperial City, enriching the region with its aromatic presence.
Vietnam, with its vibrant economy and strategic location in Southeast Asia, has become an attractive destination for foreign investors. If you’re considering starting a business in Vietnam, here’s a comprehensive guide by Global Business Services LLC (GBS), a legal and business consulting firm in Vietnam to help you navigate the process.
1. Choose the Right Business Structure
Before diving into the paperwork, it’s essential to select the appropriate business structure. Consult with legal experts and tax advisors to determine the best fit for your venture. Here are the main options:
a. 100% Foreign-Owned Company
In this model, you establish a company where you have full ownership. You can operate independently or collaborate with a Vietnamese partner.
Consider legal obligations, tax implications, and the ease of doing business.
b. Joint Venture Company
Collaborate with a Vietnamese partner to create a joint venture. This approach allows you to leverage local expertise and resources.
Draft a clear partnership agreement to define roles, responsibilities, and profit-sharing.
c. Business Cooperation Contract
Form a business partnership based on a contract. This option is suitable for specific projects or short-term ventures.
Ensure that the contract covers all relevant aspects of your collaboration.
2. Restricted Business Activities
Vietnam restricts foreigners from engaging in certain business activities. Be aware of these limitations:
* Prohibited Activities:
Dealing with narcotic substances.
Handling toxic chemicals, precursors, and minerals.
Trading natural specimens of endangered, rare, and precious wild fauna and flora species.
Engaging in prostitution, human trafficking, or related businesses.
Operating firecracker-related businesses.
Debt collection.
* Conditional Business Investment:
The Law on Investment (2020) introduced “conditional business investment” sectors. While not restricted, these activities require meeting specific criteria.
Examples include accounting services, customs-related businesses, and insurance services.
3. Legal Procedures
a. Direct Foreign Investment
Obtain an Investment Registration Certificate (IRC) for your investment project.
Follow local legal procedures for establishing your business entity.
Seek professional assistance to ensure compliance.
b. Indirect Foreign Investment
Purchase shares of existing Vietnamese companies.
The agreement determines your position in company management.
4. Additional Steps
a. Rent a Business Location
Secure office space for your operations.
Consider accessibility, cost, and proximity to potential clients.
b. Prepare Required Documentation
Gather necessary paperwork for registration.
Documents may include business plans, financial statements, and identification.
c. Register Your Business
Obtain an **Enterprise Registration Certificate (ERC)** for your company.
Comply with local regulations and pay any required fees.
d. Open Business Bank Accounts
Set up accounts for financial transactions.
Choose a reputable bank that caters to foreign investors.
e. Complete Post-Registration Requirements
Fulfill any remaining obligations after registration.
Stay informed about tax filings, reporting, and compliance.
Remember that legal advice and professional assistance are crucial throughout this process. Starting a business in Vietnam can be rewarding, but thorough preparation is key. Best of luck with your entrepreneurial journey in Vietnam!
There will probably be litigation against the SEC after May if ether ETFs aren’t approved, the report said.
Recent news that the U.S. Securities and Exchange Commission (SEC) is investigating companies associated with the Ethereum Foundation is consistent with the view that there is no more than a 50% chance of spot ether (ETH) exchange-traded fund (ETF) approval in May, JPMorgan (JPM) said in a research report on Thursday.
The bank reiterated its view that approval of these products is unlikely next month, a position first expressed in January. The SEC must make final decisions on some of the ETF applications by May 23. The SEC approved spot bitcoin (BTC) ETFs in January, stirring speculation in some quarters that versions for ether, the token of the Ethereum blockchain, may follow suit.
“If there is no spot ether ETF approval in May, then we assume there is going to be litigation against the SEC after May,” analysts led by Nikolaos Panigirtzoglou wrote.
JPMorgan said the most likely outcome is that the SEC will eventually lose this litigation, similar to what happened in the Grayscale and Ripple cases, and will eventually approve spot ether ETFs. But not in May.
One reason the SEC is likely to lose any litigation is because of the declining concentration in staking on Ethereum, raising the chance that ether will avoid being designated as a security, the report said.
The bank noted in a report last week that Lido’s share of staked ether has continued to fall, which should reduce concerns about concentration in the network.
Da Nang is the third destination in Vietnam to be evaluated by the Michelin Guide inspectors, following Hanoi and Ho Chi Minh City.
4 restaurants received Michelin stars in Hanoi and Ho Chi Minh City. Photo: Michelin Guide.
Representatives of Michelin Guide in Vietnam have just announced that Da Nang is the next city to be added to the culinary destination list of this renowned guide. It is the third city in Vietnam to be rated by the Michelin Guide inspectors, following last year’s announcements of Hanoi and Ho Chi Minh City.
“The inclusion of Da Nang in the Michelin Guide family is evidence of the vibrancy and quality of Vietnamese cuisine, alongside its rich history and distinctive regional flavors,” said Gwendal Poullennec, the International Director of Michelin Guide.
According to the Michelin Guide representatives, Da Nang made a profound impression on their anonymous inspectors with its outstanding food quality and rich culinary heritage, including dishes like Quang-style noodles, fishcake vermicelli, and Vietnamese pancakes (banh xeo).
The Michelin inspectors were delighted to sit by the roadside and savor the culinary “gems,” such as a bowl of duck congee.
Similar to previous destinations, restaurants and delicious dishes in Da Nang will be evaluated by Michelin Guide’s anonymous inspectors based on five globally consistent criteria, all focusing on the quality of the food.
These criteria include the quality of ingredients used, culinary technique, harmony of flavors, personality expressed through the dishes, consistency over time, and throughout the menu.
The list of Michelin Guide restaurants for this year will be announced at an event in June.
The presence of Michelin Guide in Vietnam since 2023 has been seen as a significant boost for the culinary and tourism market. Mr. Do Duy Thanh, Fnb Director, noted that thanks to the award’s effect, 2023 witnessed remarkable growth in the high-end restaurant business.
Michelin’s presence is said to be inspiring new investment models in 2024, learning, copying, and optimizing from the 2023 list. Furthermore, the trend in high-end restaurants will lean towards the gastronomy art model.
iPOS.vn’s 2023 culinary business market report also affirmed that Michelin brings positive factors to Vietnam’s culinary business market, enhancing product value and F&B brand.
In 2023, many high-end restaurants regretted losing their prestigious Michelin star due to a lack of understanding of the evaluation criteria and regulations. Therefore, this year will witness a strong transformation of these establishments, with improvements in food and service to regain a star.
Agoda has announced the ranking of affordable destinations, with Hue taking the lead.
On April 10, the online travel platform Agoda shared destinations with the lowest average room rates for April and May. According to this, the ancient capital of Hue is where travelers can enjoy the most competitive room rates in Vietnam. Specifically, Hue is an affordable destination with an average room rate of $43 (approximately 1,066,000 Vietnamese đong). Hue has surpassed Ninh Binh, which topped the rankings last year.
Ceremony held in the royal palace of the Nguyen Dynasty
This year, the Hue Festival 2024 is aligned with the Four Seasons Festival concept to organize a series of festival activities throughout the year to celebrate and promote the distinctive values of Hue and Vietnamese culture. The Summer Festival from April to June, themed “Cultural Heritage with Integration and Development,” is a highlight. Particularly, with restored heritage spaces, such as Kien Trung Palace, interacting with artistic programs, it is expected to bring new and exciting experiences to the public during the Hue Festival…
The list of the most affordable destinations in Asia according to Agoda is as follows: Udon Thani (Thailand), Surabaya (Indonesia), Hue (Vietnam), Kuching (Malaysia), Iloilo (Philippines), Bengaluru (India), Narita (Japan), and Taoyuan (Taiwan).
The average room rates for April and May are based on booking data on Agoda from March 1 to March 18:
Udon Thani, Thailand: Average room rate $28 (approximately 694,000 VND)
Surabaya, Indonesia: Average room rate $39 (approximately 967,000 VND)
Hue, Vietnam: Average room rate $43 (approximately 1,066,000 VND)
Kuching, Malaysia: Average room rate $49 (approximately 1,215,000 VND)
Iloilo, Philippines: Average room rate $50 (approximately 1,240,000 VND)
Bengaluru, India: Average room rate $55 (approximately 1,363,000 VND)
Narita, Japan: Average room rate $71 (approximately 1,760,000 VND)
Taoyuan, Taiwan: Average room rate $101 (approximately 2,504,000 VND)
Due to the soaring airfare prices, many people are now looking to purchase train tickets as a means of travel during the upcoming April 30th and May 1st holidays. However, many popular routes are nearly fully booked, and train ticket prices for the holidays have also slightly increased.
According to a representative from the Hanoi Railway Transport Company, short-haul routes like Hanoi to Thanh Hoa and Hanoi to Vinh still have available tickets, but passengers are advised to purchase train tickets within the next few days as the availability is limited.
Rising airfare prices make people tend to take holidays by train
For the Hanoi to Thanh Hoa route on April 30th, there are still some remaining seats, with sleeper berth tickets ranging from 220,000 to 286,000 Vietnamese dong per passenger.
However, many popular tourist routes with sleeper berths are almost sold out. Ms. Nguyen Hien from Ha Dong (Hanoi) was looking for tickets for her family holiday in Quang Binh on April 30th and luckily managed to find sleeper berth tickets for her entire family. The air-conditioned sleeper berth tickets are priced quite high, ranging from 728,000 to 892,000 dong per passenger on April 30th. The air-conditioned sleeper berth tickets with four berths are priced even higher, over 1 million dong per person.
In order to leave a bit earlier for a longer holiday, Ms. Hien mentioned that on the Vietnam Railways ticket sales website (dsvn.vn), trains departing from Hanoi to southern provinces on April 26th – 27th such as SE1, SE5, SE11, SE19, and QB1 are fully booked. Trains returning to Hanoi on April 30th – May 1st, such as SE20, SE2, SE6, SE12, and QB2, have almost sold out.
Similarly, high-demand trains for the April 30th holiday from Hanoi to Ho Chi Minh City are almost fully booked. On the ticket-selling website, fast trains like SE3 and SE4 have around 45 – 50 seats left per trip, mainly soft seats and a few sleeper berths.
Earlier, the Hanoi Railway Transport Company increased its capacity by 60,000 tickets, including both additional and regular trains. The Saigon Railway Transport Company also provided a similar number of tickets. Compared to last year’s April 30th holiday, there is a slight decrease in ticket availability, but tickets are selling faster. This is explained by the high airfare prices, causing passengers to opt for trains more frequently, leading to frequent sold-out trains.
Due to a 6% increase in fuel prices compared to the same period last year, companies have increased ticket prices by 2 – 6% for north-south trains like SE1, SE2, SE5, SE6, and SE19/20 on the Hanoi – Danang route.
The sleeper berth ticket prices from Hanoi to Ho Chi Minh City with six berths range from 1.3 to nearly 1.7 million dong, and with four berths, they range from 1.5 million dong to a maximum of around 2.7 million dong each way.
The railway sector has increased the operation of a series of train services on many routes to meet passenger travel demands during the April 30th – May 1st holiday.
In addition to the regular train services on routes such as Hanoi – Saigon, Hanoi – Danang, Hue – Danang, Hanoi – Vinh, Hanoi – Lao Cai, and Hanoi – Haiphong, the Hanoi Railway Transport Company is organizing additional train services on various routes.
Specifically, the Hanoi – Dong Hoi (Quang Binh Province) route will operate additional QB1 trains on April 26th – 27th and QB2 trains on April 30th – May 1st. The Hanoi – Vinh (Nghe An Province) route will operate additional NA3 and NA7 trains on April 26th – 27th; NA4 and NA14 trains on April 30th – May 1st; SE35 and SE36 trains from April 25th to May 1st…
Agoda’s online travel platform reveals that tourists from South Korea are flocking to Vietnam’s beaches, known for their soft, powdery sand and crystal-clear waters.
South Korean tourists are falling in love with Vietnam’s beaches featuring soft, powdery sand and clear waters, as reported by Agoda’s online travel platform on April 2.
Destinations like Da Nang, Hoi An, Nha Trang, and Phu Quoc—with their stunning beaches, upscale resorts, and diverse tourist activities—are the most favored spots among South Korean travelers.
Korean actor Lee Jun Ki checks in at the beach in Hoi An. Photo: allkpop
A representative from Agoda’s online travel platform mentioned that international visitors find Vietnam’s beaches appealing due to their alignment with global travel trends.
From the ancient town of Hoi An to the tropical island of Phu Quoc and the dynamic city of Ho Chi Minh, Vietnam offers a wealth of experiences for tourists.
Statistics from the General Statistics Office indicate that South Korea remains the largest source of foreign visitors to Vietnam in the first three months of this year, with over 1.2 million arrivals—a 10% increase compared to the same period in 2019, pre-Covid-19 pandemic.
As the two countries upgraded their relationship to a Comprehensive Strategic Partnership in 2022, the Vietnam National Administration of Tourism and the Korea Tourism Organization (KTO) signed a Memorandum of Understanding to promote bilateral tourism during the 2023-2024 period.
The reputable global airline ranking website AirlineRatings has recently announced a series of prestigious international awards, among which a Vietnamese airline has won the award for the best premium economy class of 2024.
The premium economy class is positioned between business class and economy class. Depending on the flight route, airlines may or may not offer this seating option. On airplanes, premium economy features seats with more space compared to economy class and several additional priority services. In 2024, Vietnam Airlines was recognized by AirlineRatings as having the most valuable premium economy class.
“In a competitive race, Vietnam Airlines clinched this award by consistently delivering a high-quality premium economy product, offering great value on long and medium-haul flights without excessively high prices. This is significant for travelers as they have the option for added comfort and priority without paying the premium price of services from airlines like Air New Zealand and Emirates. The airline also boasts a modern fleet with an average age of just 8.9 years,” commented AirlineRatings.
VNA
With Vietnam Airlines’ premium economy class, passengers benefit from priority check-in and baggage drop at the business class counter; priority boarding and baggage handling; spacious seating, comfortable recline, and ample legroom; and provided amenities like personal hygiene kits with slippers, eye masks, earplugs, toothpaste, moisturizing cosmetics, blankets, and pillows.
AirlineRatings also compared two similar airlines on identical flight routes with the same premium economy class: Vietnam Airlines’ Ho Chi Minh City to San Francisco from October 16 to 23, 2024, and Air New Zealand’s Auckland to Vancouver, Canada, from October 15 to 22, 2024.
The Air New Zealand flight was priced at $2,968 USD, while Vietnam Airlines’ flight was $2,372 USD, a significant difference of $596 USD. Vietnam Airlines offered a much lower price, likely providing passengers with a greater sense of value.
AirlineRatings also awarded other airlines, such as Qatar Airways for the best business class seat and Singapore Airlines for the best first-class seat.
The Civil Aviation Authority requires airlines to consider increasing supply capacity on routes from Hanoi and Ho Chi Minh City to destinations with high tourist demand during the April 30th – May 1st holiday.
Vietnam Airlines plans to increase 30-40 flights/day and Vietjet Air increases about 80 flights/day to serve the peak of April 30-May 1. Photo: Department of Aviation.
As of April 8th, airlines have been providing an average of 100,000-110,000 seats per day on domestic routes during the April 30th – May 1st holiday period. This supply represents a 20% increase compared to average flights in March.
Passenger booking rates remain relatively average across all domestic routes from Hanoi, Ho Chi Minh City to local airports and vice versa, mostly ranging from 40-60%.
The Civil Aviation Authority requests airlines to consider further increasing supply capacity on routes from Hanoi and Ho Chi Minh City to major tourist destinations like Danang, Phu Quoc, Tuy Hoa, Binh Dinh, Cam Ranh… focusing on April 27-28 and May 1-3.
Additionally, the aviation authority will consider increasing parameters at Noi Bai Airport from 37 flights per hour to 42 flights per hour during daytime hours in April. Parameters at Tan Son Nhat Airport will be increased from 44 flights per hour to 46 flights per hour on certain peak days to accommodate people’s travel needs.
According to the Civil Aviation Authority, airlines are planning to increase flights on domestic routes during the holiday period. Vietnam Airlines plans to increase flights by 30-40 per day, while Vietjet Air plans to increase by approximately 80 flights per day.
According to a report by Vietnam Airlines, the peak demand period is expected to be from April 27th to May 1st, primarily for tourists and people visiting their hometowns. Specifically, outbound flights are expected to be busiest on April 27th and return flights on May 1st.
The Civil Aviation Authority notes a similar situation to the Lunar New Year peak, with clearly evident increased operations leading up to the holiday period. Flights departing from Hanoi and Ho Chi Minh City to local airports have higher occupancy rates at the beginning of the holiday period, which gradually shift back towards the two major cities by the end of the holiday period.
Regarding ticket prices, before the holiday period, routes with high booking rates like Hanoi – Phu Quoc have the lowest fares starting from 2.2 million VND per way, Ho Chi Minh City – Phu Quoc from 1.5 million VND per way, Hanoi – Hue from 1.4 million VND per way, and Ho Chi Minh City – Tuy Hoa from 1.6 million VND per way.
During and after the holiday period, routes with high booking rates like Dong Hoi – Ho Chi Minh City have fares starting from 2.1 million VND per way, Tuy Hoa – Ho Chi Minh City from 1.3 million VND per way, Phu Quoc – Ho Chi Minh City from 1.5 million VND per way, and Phu Quoc – Hanoi from 2.4 million VND per way. On the main Hanoi – Ho Chi Minh City route, Vietjet Air offers the lowest fares starting from 1.4 million VND per way throughout the holiday period.
The Civil Aviation Authority believes that, up to the present time, passengers can generally still book tickets on domestic routes, with various ticket prices available to suit different travel conditions and needs.
Vietnam, a nation with a rich tapestry of history, celebrates the legacy of its ancient founders, the Hùng Kings, with a holiday that is steeped in tradition and national pride.
The Hùng Kings are revered as the mythical founders of the first Vietnamese state, Văn Lang, and are celebrated for their contributions to the nation’s identity and unity.
The Hùng Kings: Founders of a Nation: The Hùng Kings, according to Vietnamese legend, were the descendants of Lạc Long Quân, the Dragon Lord, and his consort, the mountain fairy Âu Cơ. Their lineage is said to have ruled over the northern part of Vietnam and southern China during the Hồng Bàng period, from 2879 BC to 258 BC. The most illustrious of their sons became the first Hùng King, establishing the realm of Văn Lang, the cradle of Vietnamese civilization.
The Hùng Kings’ Festival: A Time of Remembrance: The Hùng Kings’ Temple Festival, known in Vietnamese as Giỗ Tổ Hùng Vương or Lễ hội đền Hùng, is held annually from the 8th to the 11th day of the third lunar month. This period marks a time when the Vietnamese people pay homage to their ancestral kings. The main festival day, which has been a public holiday since 2007, falls on the 10th day of the third lunar month.
Ceremonies and Traditions: The festival’s major ceremony involves a pilgrimage to the Hùng Temple, located on Nghia Linh Mountain in Phú Thọ Province. Participants journey from the base of the mountain, stopping at each temple along the way, until reaching the High Temple at the peak. Here, they offer prayers and incense, honoring the memory of the Hùng Kings.
Cultural Significance and UNESCO Recognition: The worship of the Hùng Kings is not only a testament to the enduring respect for the nation’s founders but also a symbol of Vietnamese culture and identity. In recognition of its importance, the Hùng Kings’ Festival was inscribed on the UNESCO List of the Intangible Cultural Heritage of Humanity.
The Hùng Kings’ Festival in 2024 will be a significant event in Vietnam, with the main public holiday falling on Thursday, April 18th.
The Hùng Kings’ Festival is more than just a holiday; it is a living tradition that embodies the values of unity, resilience, and integrity that the Hùng Kings instilled in the Vietnamese people. It is a time for reflection on the past and a celebration of the enduring spirit of Vietnam.
Ms. Truong My Lan, the Chairwoman of Van Thinh Phat Group, faced a severe verdict from Ho Chi Minh City’s court. Rejecting defense arguments, the jury found her guilty of three crimes, resulting in a death sentence and a hefty compensation of nearly 674,000 billion VND.
During the April 11 trial, Ms. Lan, aged 68, received a 20-year prison term for bribery and violating lending regulations in credit institutions, along with the death penalty for embezzlement. Despite initially being stunned by the verdict, she composed herself and listened attentively throughout the proceedings.
The court acknowledged mitigating factors, such as her lack of prior offenses and community contributions, but emphasized the severity of her crimes as a leader orchestrating organized embezzlement, causing irreparable harm. The judgment highlighted the erosion of public trust in the Party and State leadership due to her actions.
Regarding damages, Ms. Lan was ordered to compensate SCB, the affected bank, with over 673,800 billion VND. Although some loans were settled and additional payments made, substantial liabilities remained, totaling over 677,000 billion VND in civil responsibility.Assets were seized to enforce the judgment, reflecting the court’s commitment to upholding justice.
Evidence presented since 2011 revealed Ms. Lan’s acquisition of private banks to merge into SCB, exploiting restructuring policies for personal gain. Through fraudulent schemes and manipulation of records, she siphoned funds from SCB to finance her business interests, causing immense financial harm.
“There exists a large, untapped pool of capital within the Bitcoin ecosystem that remains dormant,” Wintermute’s OTC desk told CoinDesk.
Bitcoin’s (BTC) much anticipated halving event later this month could see a flurry of bets on related networks and ecosystem tokens, with traders expecting upside on both technical and meme coin projects.
Halving reduces the rate at which new coins are created and lowers the available new supply. The current block reward is 6.25 BTC, and it will drop to 3.125 BTC after the halving. This event has historically preceded a bull market for the token.
Crypto traders say participants seek a “reason to buy” as money narratives continuously shift in the current bullish environment and they may turn their focus on the bitcoin ecosystem in the coming weeks.
“There exists a large, untapped pool of capital within the Bitcoin ecosystem that remains dormant, and surprisingly few listed assets that traders can use to gain exposure to the narrative,” the OTC desk of trading firm Wintermute told over email.
“Should capital begin to rotate into the Bitcoin ecosystem, tokens like $RUNE, $STX, and $ORDI could benefit significantly and outperform,” they added.
THORChain’s RUNE and Stack’s STX have been among the top-performing tokens in the past year, CoinGecko data shows, tracking a bitcoin rise. Meme coin ordi (ORDI) – a nod to the Ordinals protocol on Bitcoin – has surged over 2,500% since its September issuance.
Meanwhile, Bartosz Lipinski is the founder of the crypto trading platform Cube.Exchange said in an email that meme coins and the upcoming Runes protocol could rile up risky bets in the bitcoin ecosystem.
“Ethereum’s high costs and significant network congestion will cause it to take a backseat as Bitcoin-based projects, like Rune, will redirect meme coin hype to the Bitcoin ecosystem because of the novelty,” Lipinski said. “The BRC-20 (Ordinals NFT) standard is likely to be overtaken by Runes, which is expected to launch on the day of the halving.”
“Runes will aim to replace the standard with fungible tokens, which will enable the efficient creation of meme coins to compete with projects on Base and Solana,” he added, referring to the ongoing frenzy for non-serious tokens in the two ecosystems.
Ordinals are a way to embed data into the Bitcoin blockchain by inscribing references to digital art into small Bitcoin-based transactions.
Ordinal volumes were higher than those of usual leaders Ethereum and Solana in the past week, as reported, led by NodeMonkes and Pups. Non-fungible token (NFT) on other networks buying and selling activity declined 95% across all networks in the same period, suggestive of an isolated interest in Ordinals.
