Featured: The US-China Trade War and Bitcoin’s Price Spike

Featured: The US-China Trade War and Bitcoin’s Price Spike

There is a theory circulating in the cryptocurrency industry that the escalation of the US-China trade war has caused the Bitcoin price to spike. For instance, the theory was put forward by DigitalX CEO Leigh Travers who believes the spike may be caused by Chinese wealth being pumped into Bitcoin as a ‘safe haven’ due to the current financial insecurity issues between the countries. The US-China trade war has been escalating recently with tensions rising….

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Chinese Construction Company Huatie HengAn Sold at 90% Loss after Secretly Mining Crypto

Chinese Construction Company Huatie HengAn Sold at 90% Loss after Secretly Mining Crypto

Huatie HengAn, a Chinese construction company (and a subsidiary of Huatie) that shifted to crypto mining, was recently sold for only $2 million after having a valuation of $25 million last year, according to Chinese crypto media outlet 8BTC. But what caused this 90% plunge in value? Huatie HengAn was originally a construction company before it decided to try its hand in the crypto space. Huatie HengAn apparently purchased 36,500 “servers” or hardware units from…

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China Leads the Blockchain World with 25% of All Global lockchain Projects

China Leads the Blockchain World with 25% of All Global lockchain Projects

Business organizations of various industries are looking for ways to utilize blockchain technology in their respective industries efficiently and effectively. As a result, a number of pilot projects have been launched either as a joint venture of a government entity and private FinTech firm or as an individual’s practice to provide better services with the help of blockchain technology. The governments of several countries are not holding back in their efforts to find the use…

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Chinese Bitcoin Mining Giant Caanan Secures Several Hundred Million in Funding

Chinese Bitcoin Mining Giant Caanan Secures Several Hundred Million in Funding

Canaan Creative, a Chinese computer hardware company that produces integrated circuits of Bitcoin mining, has raised several hundred million US dollars in their most recent round of funding. The news broke on March 11 after Securities Times, a Chinese financial news agency, announced that Canaan Creative’s company valuation is now over one billion USD. As of September 2018, the Chinese company became the world’s second largest cryptocurrency mining hardware manufacturer, after Bitmain. Most of the…

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Ripple Partners with Chinese University to Offer Blockchain Research Scholarship Program

Ripple Partners with Chinese University to Offer Blockchain Research Scholarship Program

Ripple (XRP) is collaborating with the Chinese university Tsinghua University to launch a Blockchain Technology Research Scholarship Program (BRSP) for graduate students in China in 2019. This is an encouraging step by Ripple, which could have a big ripple effect (ha). Academic research and experimentation paves way for new and exciting developments that can be industrialized and bring progress in the field. Currently, blockchain technology is still in its infancy in many ways. It needs…

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Former US Congressman: Washington Regulators Thwart Crypto Innovation

Former US Congressman: Washington Regulators Thwart Crypto Innovation

The US market and authorities continue to be undecided regarding their support for cryptocurrencies, mainly due to the lack of their ability to predict or control crypto assets. This is not true from other major players in the international market; China, for instance, is a placing itself to be a big player in the crypto market, primarily blockchain. Concerns are being raised about China’s involvement in the crypto world due to the Chinese government’s obsessive…

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China’s Internet Censor Sets Blockchain Firms in its Crosshairs

China’s Internet Censor Sets Blockchain Firms in its Crosshairs

China has reputation for censoring many things online for its citizens. From Facebook, Google, Amazon to much more has been subject to China’s censorship rules. And now, the Chinese internet censor has set their eyes on blockchain firms next. The Cyberspace Administration of China (CAC) published “Regulation for Managing Blockchain Information Services” on Thursday. This publication defines new laws and regulations that wrap blockchain technologies and defines how they are to be treated across the…

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Survey Shows 14% of Chinese Interested in Investing in Crypto

Survey Shows 14% of Chinese Interested in Investing in Crypto

Cryptocurrencies were all the hype back in 2017. In December last year, Bitcoin was valued at a whopping $19,000. However, soon thereafter came the biggest plummet in cryptocurrency prices to date. Bitcoin dropped to nearly $7,000 and other cryptocurrencies also followed the fall. Throughout 2018, cryptocurrencies like Bitcoin and Ethereum failed to regain the lost value and actually lost ground. Now in December of 2018, nearly 12 months later, Bitcoin is priced at below $4,000….

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The DEA Claims that Money Laundering via Cryptocurrencies Is on the Rise throughout East Asia

The DEA Claims that Money Laundering via Cryptocurrencies Is on the Rise throughout East Asia

The sudden rise in the use of cryptocurrency as a channel to launder money by all sorts of criminal organizations and drug cartels has awakened some sorts of concern among the US law enforcement agencies including the Drug Enforcement Agency (DEA). Although cryptocurrency accounts for only a tiny percentage of the total amount laundered money globally – a sum of 2 trillion USD, – the role of cryptocurrency in money laundering seems to be increasing….

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China’s CCID 8th Crypto Ranking: EOS and Ethereum Stays on Top, Bitcoin Still Falters

China’s CCID 8th Crypto Ranking: EOS and Ethereum Stays on Top, Bitcoin Still Falters

In their customary monthly wont, China’s Center for Information and Industry Development (CCID) – a division of China’s Ministry of Industry and Information Technology – released an update of its existing Global Public Blockchain Technology Assessment Index (GPBTAI) on Dec. 20. The CCID’s recent update, which happens to be its 8th update so far, depicts the state of most public blockchains in the global crypto ecosystem. The CCID assessed various digital assets based on some…

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