The web is already less open from the efforts of US companies developing massively centralised platforms like Google, Facebook, and so on, you're familiar with the story. And they look very eager to play into the Chinese government's rules for their own profit, whilst at the same time paying lip service to liberal principles and internet principles of openness.
At the same time there's plenty of Chinese investment into decentralised cryptocurrencies, probably more so than coming from US investment groups. Some large western companies are doing more blockchain research for sure, but the vast majority of them are only interested in those within the context of their own centralised, privatised, permissioned systems.
Enough of this China vs US crap, your narrative is simply wrong. If you give a shit about the open principles of the internet, talk about the actual projects in reality actually trying to preserve these principles, and stop narrating based on false political boundaries.