Bitcoin Mining Farms in Sichuan Are Threatened By Raging Flooding Again

Aug 21, 2019

Recent floods in SW China’s Sichuan have caused a lot of damages to cryptocurrency mining operations in the area, though the damage has not been that serious so far like the situation last year, according to sources. The heavy rainfalls in the region have lasted for days starting from Augus...

Aside the $3 bln PlusToken, Beware of These Possible Chinese Crypto Scams

Aug 20, 2019

The crypto space has recently been in an uproar over the PlusToken scam which made off with a whopping $3 billion fraudulent fund. That would make it the biggest crypto Ponzi scheme to date. Almost at the same time when PlusToken went bust in early July, another Chinese Ponzi scheme th...

Binance Announces New Stablecoin Initiative Venus – the “One-belt-one-road Version of Libra”

Aug 19, 2019

The world’s largest cryptocurrency exchange Binance has announced the plan of launching an open blockchain project “Venus”, an initiative to develop localized stablecoins and digital assets pegged to fiat currencies across the globe. As per the announcement published today Aug.19, the loc...

China to Pilot Financial Innovations Including Digital Currency in Shenzhen

Aug 19, 2019

China has recently outlined the plans for the future development of the Shenzhen Special Economic Zone, in which innovation applications such as digital currency research and mobile payment are supported in the pilot demonstration area. According to the guideline supporting Shenzhen releas...

Chinese Police Arrested the Head of Multi-Million Dollar Crypto Scam BHB

Aug 13, 2019

Chinese police have recently arrested the mastermind behind a crypto exit scam BHB which was estimated to have amassed 200 million yuan ($28 million) at least, from over 25,000 investors. The accused surnamed Diao, has currently been under arrest, according to local police in Qingshen, a cou...

A View of Top 36 Chinese Cryptocurrencies, 2019 the Coldest Year?

Aug 12, 2019

On August 9, Nervos, a public chain project developed by a Chinese technical team, announced that its token CKB will soon be launched and its mainnet was scheduled for the fourth quarter. Nervos is one of the only three Chinese public blockchain projects to launch its token in 2019. Chi...

China’s State Cryptocurrency Coming Soon, Featuring Two-Layer Structure

Aug 11, 2019

China is about to roll out its central bank digital currency (CBDC), which features two-layer operation mechanism, with China’s central bank – PBoC - running the top layer and business institutions composing the second layer, said Mu ChangChun, deputy chief at the Payment and Settlem...

Bitcoin Price Surge: Maybe Not Trade War But Whales

Aug 6, 2019

The impact of the superfluous trade war between the US and China may be widening on a scale that is seeing investment diversified into global assets but it may not be responsible for the surge in Bitcoin price, a crypto insider said. Amidst the rising tension between the two largest economi...

Bitcoin Climbs above $12,000 amid Escalating U.S.-China Trade Tensions, Displaying Attributes of Safe Haven Asset

Aug 6, 2019

Bitcoin has rebounded from weeks’ weakness with a gain of over $1,300 since Monday August 5, and it continues the upward trend. Almost at the same time on the morning of August 5, the Chinese yuan broke below a psychological 7 to the U.S. dollar, an 11-year low. The movement of the two,...

China’s Central Bank to Accelerate Development of Fiat Digital Currency

Aug 5, 2019

People's Bank of China (PBoC), the country's central bank, revealed that it would accelerate the pace of research and development of its fiat digital currency (DC/EP). During an August 2 video conference centering on the institute’s work focus for the second half of 2019, the PBoC...