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

April 18, 2021 AA News, Bitcoin, BTCEUR, BTCGBP, BTCUSD, BTCUSDT, China, Crypto News, EOS, EOSBTC, EOSUSD Eddy 0

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. […]

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

April 18, 2021 Bitcoin (BTC), Bitcoin mining, BTC, BTC Mining, China, coal mine, Colin Wu, Compass Mining, Dovey Wan, Mining, nic carter, sichuan, Thomas Heller, Wu Blockchain, Xinjiang, Xinjiang China, Xinjiang province Eddy 0

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 […]

China coal mine accidents may be behind bitcoin’s hash rate drop

April 16, 2021 Bitcoin, Bitcoin mining, China, Mining Eddy 0

Recent security incidents in several coal mines in China appear to have had a ripple effect on bitcoin’s mining hash rate. Over the past two weeks, there have been three security accidents in coal mines in China’s Shanxi, Guizhou and Xinjiang provinces due to gas explosion and flooding, according to Chinese state media Xinhua. The […]

Chinese police arrest EOS gambling dApp team, seize $3.8 million in crypto

April 15, 2021 Asia, China, DAPP, EOS, Legal Eddy 0

The Chinese police in the city of Yancheng in Jiangsu province have arrested a group of developers behind a decentralized gambling app on the EOS network. The Jiangsu police, the same division that busted the PlusToken Ponzi scheme last year, announced on Thursday that it arrested 15 people and subsequently confiscated 1.3 million units of […]

What’s behind China’s Filecoin hype?

April 13, 2021 Asia, China, Filecoin, Infrastructure, IPFS, Protocol Labs, Technology Eddy 0

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 […]

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

April 13, 2021 Bitcoin News, Bitcoin regulation, BTCBRL, BTCBUSD, BTCDAI, BTCEUR, BTCGBP, BTCJPY, BTCKRW, BTCMXN, BTCNGN, BTCPAX, BTCRUB, BTCTRY, BTCTUSD, BTCUSD, BTCUSDC, BTCUSDT, BTCXRP, BTCZAR, China, Janet Yellen, Kevin McCarthy, News, Regulation News Eddy 0

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 […]

China, the World’s Power Nation Rolls Out Digital Yuan

April 13, 2021 Adoption, China, Digital Currency, Digital Yuan, Economy, News Eddy 0

What does this mean for the world of digital currency? Regarded as one of the largest economies, China is taking its ‘yuan’ to a whole new economic height. Sponsored by the government, the digital currency has been designed to trace all movements of cash. It was also suggested that the currency could make domestic and […]

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

April 12, 2021 Alipay, CBDC, Central Bank, China, Digital Yuan, tencent Eddy 0

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 […]

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

April 10, 2021 Alibaba, alibabacoin, Blockchain News, BTCBRL, BTCBUSD, BTCDAI, BTCEUR, BTCGBP, BTCJPY, BTCKRW, BTCMXN, BTCNGN, BTCPAX, BTCRUB, BTCTRY, BTCTUSD, BTCUSD, BTCUSDC, BTCUSDT, BTCXRP, BTCZAR, China, News Eddy 0

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 […]

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

April 10, 2021 100 PH/s, 288 PH/s, Avalonminers, Bitcoin, Bitcoin (BTC), Bitcoin mining, BTC Mining, Canaan, China, Internet Company, Mining, online game operator, Shanghai, shares, Stock Deal, the9 Eddy 0

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 […]

Category: China