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Tag Archives: China

Former Chinese Ethereum Community Leader Abandons Network

Sep 29, 2022

A popular Ethereum community leader in China by the name of Ajian has abandoned the community over the implementation of the EIP-1559 protocol, famously known as the Ethereum Merge. This implementation implies that the Ethereum network has completely left the original Proof-of-Work (Po...

Ethereum Merge Causes GPU Prices to Crash in China

Sep 26, 2022

The prices of Graphic Processing Units (GPUs) have fallen to their lowest ebb ever in China over the past few months. The reason for this is not far-fetched, as one of the major industries where they were deployed has embarked on a fundamental change of course that renders them redundant. H...

Meitu Declares $43 Million Impairment Loss Over Crypto Holdings

Sep 2, 2022

Meitu, a Chinese AI-driven tech company primarily focused on smartphone and selfie app manufacturing has declared a $43 million impairment loss on its cryptocurrency holdings. According to reports, this impairment loss has more than doubled over the last quarter. Meitu’s loss is a reflection ...

Beijing Releases Metaverse Development Action Plan for Sub-center

Aug 29, 2022

Olusegun Ogundeji

Beijing has published an action plan that seeks to promote the development of metaverse-related industries in the sub-center of the city over the 2022-2024 period. Strictly in line with the market leadership and guidance of the Xi Jingpin government's guiding ideology, the plan shows Beijing w...

China Tops Regional Interest in NFTs

Aug 25, 2022

It has been a rollercoaster year for the NFT ecosystem so far. Since the beginning of the current bear market for cryptocurrency and other digital assets, the traction surrounding NFTs has also faded. Overall interest in NFTs in the last 30 days has dropped by about 25%, perhaps as a res...

After China’s Ban, Here Are The Top 5 Bitcoin Mining Countries

Jul 29, 2022

The crackdown on Bitcoin mining and other cryptocurrency activities in China has left a significant mark on the entire blockchain and cryptocurrency industry. China used to be the global Bitcoin mining hub, with over 65% of the global hashrate emanating from within the country. Things have cha...