China Crypto Roundup (June 22-28): Ebang Hits Nasdaq, Bitmain Tension Eases off, and More

Jun 29, 2020

In this past week, Chinese firm Ebang become the second bitcoin miner manufacturer to go public in the U.S., internal struggle at Bitmain came to a temporary compromise, China’s national blockchain service network (BSN) integrates Chainlink’s Oracle functionality, and more headlined ne...

China Crypto Roundup (June 16-22): Mysterious Ether Transactions Solved, Mudslides Hit Sichuan, Ebang IPO

Jun 22, 2020

The three top stories from the Chinese cryptocurrency sphere this past week includes: a Chinese blockchain security firm identified the sender of the absurdly high-fee Ethereum transactions; mudslides coming along with the rainy season swallowed bitcoin mining farms in Sichuan; Ebang’s U.S....

Data Shows Most Bitcoin Held for Long-Term, NY Fed Argues It’s Not New Money

Jun 21, 2020

Of the estimated tens of millions of people who hold Bitcoin and over five million users visiting exchanges weekly, 2020 has so far shown that approximately 340,000 of them are active weekly Bitcoin traders, according to on-chain data from Chainalysis. As of June 2020, the analytics fir...

Bitmain and Canaan have lost share of Bitcoin Mining Industry, but MicroBT is winning

Jun 20, 2020

With the eyes of the world pointed at Bitcoin’s price movements, many forget that there’s an entire, multi-billion dollar industry powering the world’s largest cryptocurrency quietly operating in the shadows—ASIC manufacturing. Those in the business of producing Bitcoin mining hardwar...

Will Africa and South America Be the Next Realm of Bitcoin Mania?

Jun 19, 2020

Recently, an interactive map about the global interest in cryptocurrencies shows that bitcoin search is mainly concentrated on African and South American countries as bitcoin accounts for 94.7% of cryptocurrency-related searches in Kenya, while Nigeria and South Africa account for 89.4% and ...

What Is the Best Time in A Year to Buy Bitcoin?

Jun 19, 2020

Investors should purchase bitcoin in the first quarter of a year and better to cash out it at a proper time in the second quarter to maximize their trading profits, suggests FeiXiaoHao, the biggest cryptocurrency information site in China. According to its observations based on the market ...

Chinese Investors Secretly Buying Bitcoin Helped Fuel Tether’s $5 Billion Surge

Jun 13, 2020

One of the more titillating questions among Bitcoin watchers is, who’s buying all that Tether that’s propping it up? According to a new Sino Capital report shared with Decrypt, the answer is pretty simple: lots of Chinese investors are a part of the equation. And they don’t want you to ...

Is Crypto OTC Trading Still a Profitable and Safe Business?

Jun 12, 2020

From Jun. 4 about four thousand bank accounts involved in the money laundering of crypto OTC traders have been frozen by local police in China’s Guangdong province, according to 8btc's previous report. How large is the crypto OTC market? Assuming the daily trading volume of cryptocur...

Bank Staff Embezzled Millions to Invest Bitcoin but Ended up Losing All

Jun 11, 2020

A Chinese court has found a former bank employee guilty of embezzling millions of yuan to buy bitcoin. Liu Lihua, 33, was convicted Tuesday by local court of embezzling 1.85 million yuan ($261k) and defrauding clients’ loan funds of a total of 770k ($110k), according to a judgment from the ...

Former VP of PBoC Says Bitcoin is the Most Commercial Application of Blockchain

Jun 9, 2020

China has been at the forefront of blockchain development in the past few years, pouring billions of yuan into the development of the new technology. Aside from wanting to apply blockchain technology to almost every segment of the government infrastructure, China also put a heavy focus on its gov...