Category: China

Mining Report Shows 65% of Bitcoin’s Hashpower Stems From China

Mining Report Shows 65% of Bitcoin's Hashpower Stems from ChinaAs the end of 2019 approaches, Coinshares Research has published its bi-annual mining report that contains informative research and observations about the bitcoin mining industry. Since Coinshare’s last report published in June, BTC’s hashrate grew by 50 exahash per second (EH/s) and the firm believes a decent portion of the power stems from China. Also […]

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China’s Inflation Hits a Record 4.5% as Beijing Prepares to Test Digital Yuan

China’s Inflation Hits a Record 4.5% as Beijing Prepares to Test Digital YuanChina has been confronted with multiple economic and financial problems this year amidst an ongoing trade war with the United States. Authorities in Beijing have been trying to overcome the challenges with administrative measures in what has become a market economy over the years. Inflation of the yuan just rose to its highest level since […]

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BRD’s Adam Traidman on New Products, Crypto Adoption, and Banking the Unbanked Into 2020

BRD's Adam Traidman on New Products, Crypto Adoption, and Banking the Unbanked into 2020Breadwallet, later known as Bread, and now just as BRD, was the first crypto wallet in the App Store in 2014. Its non-custodial, open source and user-friendly nature saw it become very popular, now with nearly 3 million users worldwide. CEO Adam Traidman took some time to field questions from news.Bitcoin.com this week, detailing BRD’s […]

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Market Update: Despite Uncertainty, BTC Longs Skyrocket

Market Update: Despite Uncertainty, BTC Long Positions SkyrocketDigital currency prices have slumped again as the entire crypto market capitalization has dropped below $200 billion. At press time, most of the top digital assets are down a few percentages after gathering some gains over the last few days. With multiple coins getting rejected after trying to surpass upper resistance, skeptics think crypto prices […]

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China Releases Year-End Crypto Rankings

China Releases Year-End Crypto RankingsChina’s Center for Information and Industry Development has published its year-end crypto project rankings. Thirty-five projects were evaluated and ranked overall as well as in three separate categories. Bitcoin has risen in ranking while EOS remains China’s favorite. Also read: China Ranks 35 Crypto Projects as President Xi Pushes Blockchain Year-End Crypto Rankings The Center […]

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Another Chinese Lender Bailed Out After Bank Run

Another Chinese Lender Bailed Out After Bank RunYichuan Rural Commercial Bank, a lender operating in the central Henan province, has become the latest Chinese bank to be bailed out by the government this year. The small financial institution, which has around 30 branches only in the Yichuan county, experienced a bank run sparked by rumors that its top management was in trouble […]

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23 Central Banks Divulge Their Digital Currency Requirements

23 Central Banks Divulge Their Digital Currency RequirementsTwenty-three leading central banks participated in an in-depth survey on their digital currency developments and requirements, including fungibility, convertibility, and availability. They also discussed the timeframe for issuing consumer-ready central bank digital currencies and divulged their greatest concerns about implementing them. Also read: China Ranks 35 Crypto Projects as President Xi Pushes Blockchain The First […]

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The Xi Effect – Chinese Government to Fund Blockchain Projects

The Xi Effect – Chinese Government to Fund Blockchain ProjectsChinese President Xi Jinping’s announcement that the country would invest heavily in blockchain technology – coupled with a sweeping move to remove online posts suggesting such technology is a scam – has nourished optimism long-held by crypto advocates. Of course, the reality is that China’s marked shift towards pro-blockchain policies is part of a much […]

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Avalon Mining Rig Maker Canaan Files for $400M IPO on Nasdaq

Avalon Mining Rig Maker Canaan Files for $400M IPO on NasdaqMining rig manufacturer Canaan has filed for an IPO with the U.S. Securities and Exchange Commission to raise $400 million on the Nasdaq Global Market. Prior to this filing, the company had also attempted to go public in Hong Kong and China. Credit Suisse and Citigroup are among its underwriters. Also read: 4 New High-Powered […]

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China Ranks 35 Crypto Projects as President Xi Pushes Blockchain

China Ranks 35 Crypto Projects as President Xi Pushes BlockchainChina has been on a roll with a series of crypto-related announcements. President Xi Jinping’s speech to accelerate the development of blockchain technology in China was followed by the passing of a cryptography bill. Meanwhile, China’s Center for Information and Industry Development has continued to evaluate and rank crypto projects, and the central bank is […]

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Indian Crypto Trading Volumes Accelerate on Positive Sentiments

Indian Crypto Trading Volumes Accelerate on Positive SentimentsCryptocurrency trading volumes in India have accelerated despite regulatory uncertainty and banking restrictions imposed by the Reserve Bank of India (RBI). Global trading platforms and service providers have also been expanding their operations to serve Indian users. Also read: Mistakes Crypto Owners and Traders Should Avoid Strong Trading Volume Growth Banking services may be restricted […]

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Is China’s New Fascination With Blockchain Really Good for Bitcoin?

Is China’s New Fascination With Blockchain Really Good for Bitcoin?Blockchain development has kind of become an element of the party line in the world’s largest officially communist state. The General Secretary of the Communist Party of China, Xi Jinping, recently told a Politburo meeting that the People’s Republic has to gain an edge in the emerging field. Some say Xi’s statement brought back the […]

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Survey: Chinese Students Want Crypto Jobs, 8% Own Cryptocurrencies

Survey: Chinese Students Want Crypto Jobs, 8% Own CryptocurrenciesA poll conducted among university students in China indicates that many of them see a bright future for cryptocurrencies in their country. A quarter of the respondents said they would seek employment in the industry that deals with digital assets and related technologies. Approximately one in 12 students already owns digital coins. Also read: Ukraine […]

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Bitcoin Is a Weapon for Free Speech in the Face of Government and Corporate Censorship

Bitcoin as Free Speech Money: Government and Corporate Censorship Shows the Value of Financial SovereigntyThe latest skirmishes in the bruising trade war between the U.S. and China have led to the unlikely politicization of the NBA. But how did the views of a basketball executive become such a political football? And what does China’s ideological commitment to censorship say about the value of free speech and of free speech […]

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4 New High-Powered Bitcoin Miners Revealed

4 New High-Powered Bitcoin Miners RevealedBitmain Technologies and Canaan Creative have announced new mining rigs that process roughly 58-73 terahash per second (TH/s). Sources also reveal that Canaan’s initial public offering (IPO) could be listed in the U.S. next month. Also Read: Mining Firm Canaan Creative Secures Hundreds of Millions of Dollars in Funding Bitmain and Canaan Introduce Bitcoin Miners […]

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Binance Launches P2P Trading in China With Support for Alipay and Wechat

Binance Launches P2P Trading in China With Support for Alipay and WechatCryptocurrency exchange Binance has launched peer-to-peer trading in China. The platform supports traders making transactions between themselves using the dominant Chinese payment apps Alipay and Wechat Pay. News of the matter forced Alipay to publicly claim it stops transactions if they are discovered to be related to cryptocurrency. Also Read: Tether Created ‘Largest Bubble in […]

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Turkey Throws Another Wrench Into the USD’s Works and Joins Russian Swift

Turkey Throws Another Wrench Into the Works of the Dollar, Joins Russian SwiftThe dominance of the U.S. dollar as the global reserve currency is being robustly challenged on all fronts. Other geopolitical powers and smaller but important players are unwilling to accept the political influence Washington exerts through its fiat money. And in times of trade wars, sanctions, and even tensions between allies, the push to dethrone […]

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Chinese Bitcoin Miners Migrate North After Wet Season

Chinese Bitcoin Miners Migrate North After Wet SeasonA China-based crypto news outlet recently published a comprehensive report on the costs associated with building a digital currency mining farm in China. Additionally, the local publication revealed that Chinese miners are starting to migrate north to access cheap thermal power and wind power after the wet season in Sichuan. Also read: RBI Ban Stops […]

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Economic Turmoil in Hong Kong Escalates as Colonial-Era Law Is Imposed

Economic Turmoil in Hong Kong Escalates as Colonial-Era Law Is ImposedColonial-era law has been imposed in Hong Kong causing the economic situation to degrade further, with empty ATMs and bank runs becoming a new norm. Protestors and non-protestors alike fear the martial law-like ERO (Emergency Regulations Ordinance) could eventually grind the city’s financial activity to an unprecedented halt. Also Read: Protesters Wield Tools of Freedom […]

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Protesters Wield Tools of Freedom as Hong Kong Imposes Dictatorship

Protestors Wield Tools of Freedom as Hong Kong Imposes DictatorshipFour months of protests continue in Hong Kong as the world is witnessing the biggest uprising of political dissent in the territory since the 1997 ‘handover’ from Britain to China. Protesters have recently embraced wearing Guy Fawkes masks but on October 3, Hong Kong’s current Chief Executive, Carrie Lam, implemented colonial-era emergency powers banning the […]

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Video Shows $10M Chinese Bitcoin Mining Farm in Flames

Circulating Video Shows $10M Chinese Bitcoin Mining Farm in FlamesDuring the early morning hours of September 30, a nine-minute video circulated on Twitter showing a large bitcoin mining farm burning down. Sources say the mining farm belonged to the company Innosilicon and roughly $10 million worth of mining rigs were destroyed. Also Read: Central Banks in Panic Mode – Extreme Tactics Like Helicopter Money […]

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Despite Lower Prices, Bitcoin’s Hashrate Remains Strong

Despite Lower Prices, Bitcoin's Hashrate Remains StrongPeople watching cryptocurrency markets have been patiently waiting for prices to rise and the overall sentiment to change. However, one thing that’s been extremely bullish these days is how BTC’s hashrate has doubled in the last three months. Even with today’s sluggish crypto prices, the SHA-256 hashrate has remained unscathed and continues to show persistent […]

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Changes Afoot for Philippine Crypto-Friendly Economic Zone

Changes Afoot for Philippine Crypto-Friendly Economic ZoneThe special economic zone in the Philippines known for its crypto friendliness is undergoing some changes. Government-owned Cagayan Economic Zone Authority (Ceza) is investigating a case involving one of its licensed crypto exchanges after a tip from the Chinese government. The authority has also issued new directives to all of its licensees, including 40 crypto […]

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At Least 19 Central Banks Give Way to Monetary Easing As Economy Slows

More Than 18 Central Banks Give Way to Monetary Easing As Economy SlowsIn a coordinated fashion, more than 18 central banks worldwide have or plan to cut interest rates, sparking a domino effect of monetary easing. It’s been 10 years since the world has seen central planners orchestrate such harmonization in an attempt to save the economy from a deep recession. Also Read: Money and Democracy: Why […]

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