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Former Hong Kong Finance Secretary Says Bitcoin’s Price Will Fall Below $3,000

Dec 28, 2018

Bitcoin, the crypto market’s bellwether, has plunged more than 80 percent over the past 12 months from its all-time-high near $20,000 in late 2017. But Chan Ka-keung, former Hong Kong Secretary for Financial Services and Treasury, said on December 27 that the price of bitcoin will most l...

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Taiwanese Man Arrested for Stealing Over $3Mln of Electricity to Mine Bitcoin

Dec 28, 2018

A man in Taiwan has been arrested for the allegation of stealing electricity worth millions of dollars to mine Bitcoin and Ethereum, according to a local report by EBC Dongsen News. The suspect, surnamed Yang, has been accused of stealing over NT$100 million ($3.25 million) worth el...

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Mt. Gox CEO Claims Innocence in Closing Arguments

Dec 28, 2018

The former CEO of defunct Japanese Bitcoin exchange Mt. Gox, Mark Karpeles, who may face a ten-year sentence over alleged embezzlement, has maintained his innocence in the closing arguments in a Tokyo court, Japanese public broadcaster NHK reported. The infamous Mt. Gox hack of...

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Crypto ATM Provides RMB Exchange Faces Extreme Risk of Crackdown in China

Dec 28, 2018

Of late, a video of Bitcoin ATM withdrawal operation is spreading on the Internet. The video guarantees that users can get the cryptocurrency-cash exchange and real-time RMB withdraw service from this machine. According to Internet Finance News, it is actually a blockchain-based se...

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Over 80% of Investors Agree Layoffs Help Crypto Firms Be More Effective

Dec 28, 2018

A majority of investors believe that most crypto firms are overstaffing over the past year and that downsize could be a boost for these firms to be more effective in services they’re engaged, a survey by polling firm Insight Chain found. The survey conducted Nov 26 asked 473 investors about...

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4,087 Bitcoin ATMs Boom in A Bear Market

Dec 26, 2018

In the world of cryptocurrency, in addition to the high-profile exchanges, miners, mining pools and digital wallets, the Bitcoin ATM machine is also a promising market that worth more than 100 millions of dollars. Despite the performance of Bitcoin and other cryptocurrencies markets are...

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Major Crypto Exchange Huobi Reportedly Plans to Lay Off 50% of Staff

Dec 26, 2018

Huobi Group, the operator of the world’s third largest cryptocurrency exchange, has reportedly laid off more then 100 employees last week and planned to lay off up to 50% of staff in the midst of a crypto bear market, according to a report on Sohu.com, a China's leading internet portal. ...

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75% People Vote Cryptocurrency As Their Favourite Christmas Monetary Gift

Dec 25, 2018

Of late, Insight Chain (INB), a blockchain-based decentralized research ecosystem chain, has launched a follow-up survey of Bank of England’s poll of the most popular monetary gift at Christmas. Results show the majority of people prefer to receive cryptocurrency as their Christmas mone...

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Bitmain is Reportedly to Lay Off 700 Employees from Its Beijing Office

Dec 25, 2018

China’s bitcoin mining giant Bitmain is set to lay off nearly 700 employees from its head office in Beijing, according to the Chinese Blockchain media outlet Deepchain, although the firm has refuted the "mass layoff" rumor on Monday, saying it is a normal staff turnover based on the business...

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Nobel Laureate Economist Bengt Holmstrom: Bullish on Blockchain But Skeptical of Bitcoin

Dec 25, 2018

Bengt Holmstrom, the Nobel Memorial Prize in Economic Sciences of 2016 and professor at the Massachusetts Institute of Technology, is the latest well-distinguished economist who takes a dim view on bitcoin. Though skeptical of bitcoin, the laureate has an opposite attitude towards the ...