Category: China

Chinese Police Confiscated $3.8 Million in Crypto After Arresting EOS Gambling dApp Team

Chinese police officers have confiscated nearly $4 million in various cryptocurrencies after a raid against several developers that operated a decentralized gambling app built on the EOS blockchain. $3.8 Million in Crypto Seized After receiving tips of suspected illegal activity involving the developers of the dApp called Biggame, the Jiangsu police department opened an investigation. […]

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Bitcoin Hashrate Drops Over 45%, Xinjiang Grid Blackouts Blamed, BTC Price Slides 10%

Since April 15, the Bitcoin network hashrate has dropped more than 49% after touching an all-time high at 218 exahash per second. Regional reports noted that in China the Xinjiang grid is having blackouts and “safety inspections.” Reports Claim Blackouts in Xinjiang, China Have Pushed Bitcoin’s Hashrate Down 49% At the time of writing, the […]

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What’s behind China’s Filecoin hype?

Quick Take People’s Daily, the mouthpiece of the Chinese Communist Party, recently praised decentralized data storage protocol IPFS by name. Some government officials have also been touting IPFS and its complementary protocol, Filecoin. What’s behind the hype? This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature […]

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Republican Kevin McCarthy Bats For Bitcoin, Calls For Better BTC Regulations to Steer Ahead of China

Kevin McCarthy, the Republican leader from California recently appeared on Squak Box to talk about various governance policies of the Biden government as well as their approach towards the highly popular Bitcoin and cryptocurrencies market. McCarthy called for better regulations to allow the crypto market to flourish in the US. When asked about his opinion […]

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Biden officials fret about digital yuan’s threat to dollar’s dominance: report

Officials in the U.S. national security and financial apparatus are looking askance at China’s development of a digital yuan.  A Bloomberg report from April 11, citing anonymous sources, states that the U.S. Treasury, State Department, Pentagon and National Security Council are investigating China’s central bank digital currency project with concern for its potential to circumvent […]

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Biggest Blockchain Patent Holder Alibaba Faces $2.8B Fine Amid Growing Fallout With Gov

Alibaba, the largest e-commerce company in China and the biggest blockchain patent holder was fined $2.8 billion for anti-trust activities by the Chinese government. The fine was imposed after the market monopoly investigation which indicated that Alibaba was punishing retailers for selling the same goods on other platforms. Alibaba is believed to be one of […]

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Online Game Operator The9 Plans to Purchase 2,000 Bitcoin Miners for Over $6 Million

The Shanghai-based online game operator, The9 Limited, has revealed the company is planning to acquire 2,000 Canaan Avalonminers for over $6 million in a stock deal. The9’s binding memorandum of understanding (MOU) explains that the new units will give the company 0.1 exahash of bitcoin hashpower. On April 9, the publicly-listed gaming and internet company […]

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