China Crypto Roundup (Mar. 8-Mar. 14)：Meitu Bought 260M Yuan BTC and ETH, Digital RMB Pilot Became a Hot Topic at NPC&CPPCC

Mar 15, 2021

1. Meitu spent 260 million yuan to buy Bitcoin and Ethereum On March 8, Well-known beauty camera app Meitu's parent company, the Hong Kong-listed Meitu Company, became a trending topic on Weibo after it announced to great fanfare that it had bought $40 million, or about 260 million yu...

Chinese ICT Giant ZJBC Plans on Investing $155M in MicroBT’s Mining Hardware

Mar 11, 2021

The Chinese mining hardware industry has just received a major financial injection with a huge investment from one of China’s oldest and largest information and communications technology (ICT) company. According to a statement published on March 9th, Zhongjia Bochuang (ZJBC), a Chine...

Contradicting Opinions About The Effect Of Digital Yuan On The Cryptocurrency Market

Mar 11, 2021

China is pushing to launch a digital yuan and has carried out several tests across some major cities. However, the impact that the project could have on both the mainstream and cryptocurrency marketplace remains a subject of debate. The Chinese government has been firm on decisions against cr...

Supercomputing·Fusion: The 2nd Global Blockchain HashCon is officially launched!

Mar 4, 2021

The bull market is coming, and the wet season is coming. Summer is about to usher in the busiest mining season in Sichuan. In April, "Supercomputing · Fusion: 2021 Global Blockchain HashCon" will be held in Chengdu, Sichuan Province, which opens the prelude to the annual wet season...

China Crypto Roundup (Feb. 22-Feb. 28)：Bitcoin on Weibo Top Searches, China Explores CBDC Cross-Border Payments

Mar 1, 2021

1. "Who has more long-term investment value, bitcoin or gold?" was on Weibo top searches Due to the outstanding performance of these two assets in recent years, more and more people begin to compare them. Is gold, as a traditional safe haven, challenged by the emerging safe haven bitcoin? ...

Bitcoin Miner Manufacturers in China See Huge Surge in Demand

Feb 25, 2021

The massive price rally the entire crypto market has seen since the beginning of the year has affected much more than just profits. According to reports from the Global Times, manufacturers of Bitcoin mining hardware have benefited hugely from increased prices. As Bitcoin’s price passed its ...

Volvo Owner Partners With Concordium to Provide Blockchain Services in China

Feb 23, 2021

Geely, the owners of the car manufacturing company, Volvo has entered into a partnership with the Concordium Foundation to provide blockchain services to China-based customers. The agreement between the parties is aimed at propelling them to “become a leading blockchain technology and service...

China Cracks Down on ICOs With New Decree Against Illegal Fundraising

Feb 12, 2021

It’s been no secret that the Chinese government has slowly been cracking down on the development of the crypto industry in the country. And while the first several efforts to stifle the growth of cryptocurrencies, namely the banning of crypto trading, were said to be done to protect private inve...

China Bitcoin Dominance Drops as Revealed by Pre New Year Price Trend

Feb 9, 2021

The Chinese New Year comes up on February 12 2021, just a few days from the time of writing. Based on historic trends, participants in the Bitcoin and cryptocurrency market expected prices to drop. This has been the usual behaviour of the market around this time of the year. This time aroun...

China Cracks Down on USDT-Related Crime

Feb 7, 2021

While cryptocurrency trading has long been banned in China, over-the-counter (OTC) trading desks and exchanges have been a popular way for Chinese citizens to acquire cryptocurrencies. Without any KYC requirements, OTC exchanges provide people with a quick and easy way to acquire variou...