Crypto in China

Kazakhstan is experiencing civil unrest after a major internet shutdown resulted in many businesses – including crypto mining projects – unable to operate appropriately. Kazakhstan Internet Outage Results in Rioting Kazakhstan has become a new bitcoin mining hub over the past several months following the major China shutdown that occurred in the summer. China announced that to comply with new rules from Beijing designed to make the country more carbon neutral, all...

China’s leading messaging application – WeChat Pay – will reportedly begin supporting the e-CNY. The app has more than one billion users, meaning the initiative could significantly boost the distribution of the digital yuan. WeChat Adopts Digital Yuan Payments According to a recent CNBC report, WeChat Pay – a multi-purpose messaging and mobile payment app – will begin supporting digital yuan settlements. The company’s move is expected to rapidly increase the number of...

The European nation of Kosovo has banned all bitcoin and crypto mining as a means of saving electricity. The country is currently facing one of the worst energy crises it’s ever experienced, and it’s allegedly due to production outages. Kosovo Becomes the Next Country to Ban BTC Mining Artane Rizvanolli – the economy and energy minister – explained in a statement: All law enforcement agencies will stop the production of this activity in cooperation with other relevant...

The People’s Bank of China launched a pilot version of its digital yuan wallet application on mobile phone app stores. This is another effort marking the nation’s desire to be the first to develop its own central bank digital currency (CBDC). China’s Most Recent CBDC Push According to a recent tweet by the local news outlet BlockBeats, the digital currency research institute of PBoC released the “e-CNY (Pilot Version)” app – a mobile wallet for the Chinese CBDC – on iOS and...

As mentioned in an earlier article today, bitcoin had a big year in 2021. The asset itself and several other forms of cryptocurrency experienced many major developments and there were a lot of things revolving around the world of crypto throughout the past 12 months. How Was the Bitcoin Price Throughout the Year? But those were specific stories. It’s now time to look at bitcoin’s actual price movements throughout the year to see what patterns its followed and to better...

2021 is just about to leave us, so let’s look back at some of the biggest bitcoin stories to occur over the past 12 months. Bitcoin and Its Price The bitcoin price has come quite far in 2021. While the currency has slid down somewhat and is presently trading for just over $51,000, the currency shot up to a new high of approximately $68,000 per unit as recently as November. The asset has managed to retain a five-figure price throughout the year, despite facing heavy...

The metaverse narrative continues to boil, and the latest mention comes from a point of high authority. China’s biggest city appears to be getting serious about it. According to a CNBC report, Shanghai is eager to tap into the potential of what many believe to be the next-gen internet. Local authorities have issued development plans for the next five years, and one of them mentions the metaverse, according to media reports from China. According to a reported translation of an...

The Chinese government has gone out of its way on the crypto crackdown. Despite this, the industry has evolved tremendously and continues to capture the imagination of many. Joe Tsai, who happens to be the executive vice-chairman of the Chinese e-commerce behemoth, Alibaba Group, is the latest to share his feelings on Twitter in three simple words, saying – “I like crypto.” Tsai is Bullish on Crypto Joe Tsai’s latest comment on crypto has created a frenzy in the...

DeBank – a crypto wallet for tracking decentralized finance applications – recently closed a multi-million dollar funding round led by fintech venture capitalist firm Sequoia China. This brings the defi wallet’s valuation to over $200 million. Debank announced its newly acquired funds in a tweet on Tuesday. Other companies that contributed to the funding round include Dragonfly, Yuobi, and Hash Global. It also featured “strategic investments” from various popular crypto...

Meten Holding Group Ltd. – an English-language training program used regularly in China – has joined a panel of experts to establish a whole new bitcoin mining and research firm. Meten Holding Is Building Its Own Mining Firm The new company will study, build, and sell mining equipment. Among the industry experts that are helping Meten create its new line of business are Mr. Zhijun Liu, VP of Hummingbird Mining Machine, a crypto mining enterprise; Yunning Li, the former...