Tag: China

North America Gets Its First Enterprise-Grade Bitcoin Mining Pool from Titan

North America is all set to get its first enterprise-grade Bitcoin mining pool and thanks to Titan. As Bitcoin continues to gain new highs, enterprises are having a close watch on the opportunities in the Bitcoin mining market. titan is popular in North America as a leading developer of software and services that deliver scalable […]

Continue Reading

Chinese State-Run Media Believe BTC Price Surge Is Just ‘Hype’ While Praising Blockchain

Chinese State-Run Media Believe BTC Price Surge Is Just ‘Hype’ While Praising Blockchain

Two Chinese state-run media outlets have published a brief news item urging citizens to focus more on blockchain technology than on the “hype” of the recent surging Bitcoin prices across the board. China’s Government to Focus on Blockchain Both Sina and Xinhuanet have stated that the recent rally in BTC prices has no clear explanation. […]

Continue Reading

Onchain Researchers Suspect Chinese Government Sold Plustoken’s Billion-Dollar Bitcoin Hoard Last Year

Onchain Researchers Suspect Chinese Government Sold Plustoken’s Billion-Dollar Bitcoin Hoard Last Year

A number of masterminds from the Plustoken scam were sentenced to 11 years in prison for defrauding cryptocurrency investors. Last week, on November 19, a court ruling had shown the Chinese government said that it seized over $4 billion in crypto assets from the Plustoken scam. Meanwhile, onchain sleuths believe the Chinese government may have […]

Continue Reading

PlusToken Crypto Scammers Slammed With 11-Year Jail Sentence

Principal actors in the PlusToken Ponzi scheme have bagged 11-year prison sentences in China. The scheme managed to defraud investors of billions of dollars in various cryptocurrencies. End of the Road for PlusToken Scammers According to the South China Morning Post on Dec. 1, principal members of the PlusToken scam project were sentenced to 11 […]

Continue Reading

Canaan Sees Over 75% Decline in Net Revenue in Q3 as Bitcoin’s Price Surge

Chinese Bitcoin mining firm Canaan has recorded a loss in yet another quarter but is showing positive signs of a recovery as share price and market capitalization spikes. Following a disappointing initial public offering (IPO) last year and declining inventory sales, the company has seen the balance of power shift considerably to major competitors MicroBT […]

Continue Reading

Chinese Police Seize $4.2 Billion in Multiple Cryptocurrencies From Plustoken Ponzi Clampdown

Chinese Police Seize $4.2 Billion in Multiple Cryptocurrencies From Plustoken Ponzi Clampdown

Chinese police have seized more than $4.2 billion worth of crypto assets in its clampdown against the Plustoken Ponzi scheme. According to a court ruling made public on Nov. 26, and shared by The Block, law enforcement confiscated a total of 194,775 bitcoin (BTC), 833,083 ether (ETH), 1.4 million litecoin (LTC), and 27.6 million EOS. […]

Continue Reading

US Spy Chief Reportedly Worried About China’s Crypto Dominance

With China making significant strides in crypto and blockchain development, the US Intelligence apparatus is reportedly worried about the US falling far behind its current economic rival. From crypto mining to central bank digital currencies (CBDCs), there is a popular narrative that Beijing controls vast swaths of the emerging digital economic landscape. A dismissal of […]

Continue Reading

China’s Xi calls for G20 to adopt ‘open and accommodating attitude’ on CBDCs

China’s Xi calls for G20 to adopt ‘open and accommodating attitude’ on CBDCs

Xi Jinping, the president of China, remarked during a G20 meeting this week that the group should adopt an “open and accommodating attitude” on central bank digital currencies, or CBDCs. His remarks on November 21 are notable, given that China is on the cusp of launching its own digital currency system, dubbed DC/EP. Testing is […]

Continue Reading