Category: China
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Taiwanese Police Arrest Miner Accused of Stealing Millions in Power
A man with the Surname of Yang has been accused of stealing 100 million Taiwanese dollars (nearly $3.25 million) worth of electricity to mine cryptocurrencies. Yang is suspected of stealing power from 17 different stores in Northern Taiwan to fuel his mining operations. Also Read: The Daily: UFC 232 to Have Official Crypto Partner, 5% of…
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50% of Chinese Stock Exchange Companies Investigated Fail to Demonstrate Real Applications for Blockchain
According to Chinese state media, the Shanghai and Shenzhen stock exchanges have carried out investigations into 30 percent of companies listed on their exchanges that are performing operations pertaining to distributed ledger technology (DLT). Of the companies investigated, less than half were able to demonstrate applications for blockchain technology. Also Read: Chatter Report: Vitalik Doesn’t Believe…
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Bitcoin Equipment Maker Ebang Reapplies for Hong Kong Listing
Ebang International Holdings Inc., a Chinese bitcoin mining equipment maker, has refiled documents for a public share sale with the Hong Kong stock exchange after its first submission failed to proceed. Money raised from the initial public offering (IPO) will go towards development of new mining hardware and non-crypto blockchain applications, among other things. Also…
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China Now Ranks 34 Crypto Projects
China’s Center for Information and Industry Development has released its latest crypto project ranking. The center evaluated one more crypto project this month, bringing the total number of ranked projects to 34. Bitcoin has been downgraded while the top two positions remain unchanged. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations…
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Asian News Headlines Exert Significant Impact on Cryptocurrency Prices
A report published by Mosaic has found the Asian region to be exerting a leading influence within the cryptosphere, despite China’s ongoing crackdown on digital asset platforms. The study finds Asian news events to have a significant effect upon BTC price volatility and highlights the increasing number of cryptocurrency exchanges targeting Asian traders. Also Read: Bitcoin…
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A Chinese Government-Controlled Bitcoin Alternative Is Reportedly in the Works
In the midst of a sino-U.S. trade war, the People’s Bank of China is working to develop its own cryptocurrency prototype. It apparently believes this centralized digital asset can ultimately trump BTC and perhaps even the U.S. Dollar. Also read: Bibox Buys 100% Share of Decentralized Exchange Dex.top A Love-Hate Relationship With Cryptocurrency The government of…
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How Crypto Miners Are Adapting to Survive the Bear Market
In the current crypto bear market, miners have been battered due to the depreciation of digital assets, leaving many operations struggling to generate profit. In some cases, miners have been forced to exit the business altogether. In their absence, a number of experienced miners are capturing the bulk of the market share, according to one…
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Bibox Buys 100% Share of Decentralized Exchange Dex.top
Bibox, a Chinese digital asset exchange, has acquired 100 percent of shares in Dex.top, a decentralized ERC20 exchange that also operates from Beijing. Officials refused to discuss the price of the deal, saying it was “private.” Bibox, which handles $236 million of trading volume daily, said Dex.top will help expand its product offering. Also read: U.K.…
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U.K. Cryptocurrency Exchange Cubits Shuts Down After $33M Scam
Cubits, a London-based digital asset trading platform, has been forced into administration after fraudsters reportedly stole €29 million (about $32.5 million) from the exchange in February. The company claimed “it fell victim” to an elaborate scam orchestrated in collusion with three of its clients. Also read: Former Mt. Gox CEO Could Face 10 Years in Jail…