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China’s Absolute Control Over Digital Yuan Will Boost Demand for Cryptocurrencies, Says Analyst
22.5.2021
China’s push for the digital yuan will boost demand for cryptocurrencies, according to an analyst at BK Asset Management, citing that the Chinese government wants “absolute power” over the wealth and income of its citizens. Digital Yuan Push Could Raise Demand for Crypto Boris...
Altcoins Again Take The Strongest Hit Amid China Crackdown News
21.5.2021
As China is sending more negative news to the crypto market, altcoins are once again suffering the most.
Bitcoin (BTC) dropped from USD 41,760 to below USD 37,000 in half an hour and continued correcting lower. At 19:53 UTC, it trades at USD 36,082 and is down by 10% in a day. Meanwhile, ethereum...
‘Reiterated FUD’ – Chinese Government to Continue Monitoring Bitcoin Mining Sector
21.5.2021
A recent report from the Chinese government’s financial committee has reiterated the country’s stance on bitcoin mining and that it would continue to monitor the sector closely. The report follows a recent article from Reuters published three days ago, which also reiterates...
Crypto Prices Consolidate, Analysts Blame Bitcoin Market Rout on ‘Overleveraged Positions’
21.5.2021
Digital currency markets have been consolidating after taking some heavy losses during the last few days. Billions of dollars have jumped back into the crypto economy on Thursday, as the overall market valuation of all coins in existence has jumped back to $1.75 trillion on Friday. Bitcoin...
Chinese Firm Invests $25 Million in ‘Cryptocurrency Mining Data Center’ in Texas
21.5.2021
On Wednesday, the firm Bit Mining Limited, formerly known as 500.com, announced it has entered into a binding investment in a cryptocurrency mining data center located in Texas. The binding investment worth $25 million is with Dory Creek, LLC as the two companies will construct and operate a 57.2...
Bitcoin Hashrate Slides- Low BTC Prices, Sichuan Wet Season, Upcoming Difficulty Spike to Blame
20.5.2021
While bitcoin prices plummeted this week, the network’s hashrate has also dropped considerably since tapping a high on May 9. Since then, the hashrate has seen swings between 10-15% because of the crypto market downturn, alleged issues with alleged power outages in Sichuan, China, and...
Chinese Internet Cafe Owners Deal With the Pandemic Crisis by Using Their Facilities to Mine Cryptocurrencies
20.5.2021
The Coronavirus pandemic has driven people to take advantage of new business lines to deal with the economic crisis, and cryptocurrency is once again a headliner. Internet cafe owners in China are using their facilities to set up crypto mining farms after temporarily shutting down in 2020. Owners...
Bitcoin Drops Below $40K, Crypto Economy Down 17%, Markets Lost $250 Billion Last Week
19.5.2021
On Wednesday, cryptocurrency markets continue to drop lower in value, as the entire crypto-economy has plunged 17% below the $2 trillion mark and now rests at $1.801 trillion. Bitcoin, the leading cryptocurrency in terms of market capitalization, touched a high of $40,770 per unit at 4:48 a.m....
Stocks, China and the dollar: 3 reasons why Bitcoin price is tanking below $40K
19.5.2021
$39,000 may seem unfairly cheap for Bitcoin, but there is likely more keeping it there than just Elon Musk
Nervos and CMB International launch $50M blockchain, DeFi and NFT fund
19.5.2021
China’s leading blockchain network to fund startups willing to develop on it
Another Year, Another Crypto Ban in China - Report
18.5.2021
China has banned financial institutions and payment companies from offering their clients any service involving cryptocurrency, such as registration, trading, clearing, and settlement, Reuters reported, citing a joint statement by three industry bodies.
However, some industry players claim that...
Chinese trade associations sound crypto investment warning
18.5.2021
Three associations outlined four issues related to crypto investment beginning with a call for its members to understand the nature of virtual currencies
Foundry’s Mike Colyer on US-China Mining Rivalry and Why Clean Bitcoin ‘Makes No Sense’
18.5.2021
The New York miner says, "We're seeing a lot of hashrate start to come to the U.S." and many states have friendlier regulations these days
China Building Full-Sized Titanic Replica As Tourist Attraction
17.5.2021
At the end of this year, a theme park in Suining, China is slated to finish a full-sized version of the Titanic.Read more
Chinese Police Return Bitcoin to Victim in 3 Million Yuan Theft Case
15.5.2021
Police in China’s Jiangxi province have reportedly recovered bitcoins stolen from a victim and returned them to the owner. The case involves the theft of 8.236 bitcoins, worth approximately 3 million yuan. Police Return Bitcoin to Theft Victim Police in China’s Jiangxi province have...
Shanghai Man: Aping out of gorilla token, digital dollar Biden its time... and more
14.5.2021
An up and down week filled with high volumes for animal tokens and a flurry of digital yuan news, capped by a large fundraising round for Babel Finance
Hong Kong to expand pilots for cross-border use of digital yuan
13.5.2021
The first phase of tests for use of the digital yuan across borders has been successful, the Hong Kong Monetary Authority has said
China’s Blockchain Investment Growth Is Slowing Down
13.5.2021
Beijing. The growth of China’s blockchain business expansion appears to be slowing, per a new report – a sign that the blockchain explosion of the past two years appears to be quelling.
In October 2019, Chinese President Xi Jinping gave a speech where he called blockchain technology “an important...
Urban Tea Now Accepts Cryptocurrencies Including Dogecoin
12.5.2021
A specialty tea products retailer based in China’s Hunan province, Urban Tea, has introduced crypto payments in its stores and restaurants on two continents. Starting from this week, customers will be able to buy its beverages and meals using various cryptocurrencies. Chinese Tea Stores...
The challenges with designing a CBDC, explained
12.5.2021
Central bank digital currencies face a tricky trilemma when it comes to ensuring they are well designed. What’s the answer?