China banned the use of Bitcoin and other cryptocurrencies within its financial system and geographical space. Not only did it ban the use of cryptocurrencies, but it also moved to put a stop to all activities related to the new technology, including cryptocurrency mining and trading. While t...
Bitcoin price fell below $40K for the first time since August along with other cryptocurrencies. This drop appears to be contagion from the falling equity market, amidst fears that Chinese real estate giant Evergrande could slide into bankruptcy. Evergrande, at the time of writing, remai...
Compared to Q1 2021, the crypto market experienced a 20% drop in market cap and 33% drop in trading volume in Q2 due to several factors including the nationwide crypto mining ban introduced by China, CoinGecko's Q2 2021 Cryptocurrency Report shows. The report, which gives a snapshot of ...
China’s central bank digital currency (CBDC) push is merely bringing to life what could be considered an extension of what cryptocurrencies could achieve, a fintech and China expert has suggested. Richard Turrin, author of ‘Innovation Lab Excellence’ and ‘Cashless’, a book on C...
Meitu Inc., the Hong Kong-listed company behind a popular image and video processing app, has said it will report in its interim results that it has incurred an impairment loss so far on its cryptocurrency investment. The Chinese company is principally engaged in providing online adverti...
Recent Bitcoin predicaments have been compounded by the series of bans being carried out in China. Significant among these bans is the abolishment of mining activities within the country. The order to shut down Bitcoin mines has had a direct effect on the Bitcoin and cryptocurrency market, le...
Following China’s crypto mining crackdown of the past few weeks, Bitcoin on-chain activity has fallen dramatically this week to return to levels not seen in a year, latest analysis from GlassNode shows. The analytics firm adds that the fall is making a simultaneous seismic shift possible in ...
It is more trouble for Bitcoin miners in China as yet another province orders a shutdown of all mining activities. This time around, it is the Province of Qinghai that joins the likes of Xinjiang and Inner Mongolia to issue a shutdown order to miners within the region. In the past coupl...
In the wake of a crackdown on Bitcoin-related activities in China, including mining operations, the Chinese government on Monday June 7 issued a policy to reiterate its support for the blockchain technology. The top cryptocurrency has been under immense pressure of late with some of its C...
In the face of the clampdown on cryptocurrency mining and other crypto-related activities in China, affected companies are moving out of the region. As a result of this, BIT Mining Limited, one of the leading mining companies in China that are listed on the New York Stock Exchange (NY...
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