Crypto in China

Americans have stood the test of time by making the so-called “American Dreams” a reality. Not just ones, twice or thrice, but for several decades by producing the highest number of wealthy people globally.But according to the recent annual wealth survey conducted by Credit Suisse, America is in for a rude shock after China has overhauled them as the new residence of the growing population of wealthy people around the globe.There’re 99 million Americans among the 10% wealthiest individuals in...

It seems like Facebook’s new currency, Libra, has regulators scared out of their wits… So much, in fact, that the United States government is now looking into potentially developing its own digital currency – issued by its central bank – as a means of competing.Libra Has Everyone TerrifiedLibra, as we all know, has gotten very mixed reactions from both regulators and the general public in the past, with very few Facebook users saying they would consider using Libra if it was available today....

For many people, i.e. Warren Buffett, bitcoin and cryptocurrency are two things that should be avoided at all costs. For others however, like billionaire Peter Thiel, bitcoin’s success is just getting started, and the coin represents a whole new wave of financial innovation that the world hasn’t seen yet.Peter Thiel: The BTC Champion?Thiel is the co-founder of PayPal. His love of crypto is ironic considering he lost former executive David Marcus to Facebook’s blockchain division. Marcus later...

Bitcoin is currently facing the strongest selling pressure since February. Commentators and analysts think that there is a possibility that it might drop below the recent lows near $7,750. On October 16, BTC price fell below $8,000 in fresh choppy trading after several days of consolidation and slow grind.The top cryptocurrency by market value dropped from $8,326 to $8,086 in an hour to 17:00 UTC on October 15. That confirmed a downside move in the recent trading range of $8,450–$8,250 as...

As China continues its long fight against bitcoin and cryptocurrencies, a new step has been taken. Alipay, owned by Alibaba, has announced on Twitter that it will be discontinuing all BTC and crypto payments from here on out.Alipay: No Crypto Use, PleaseThere has been serious confusion as of late given that Binance, the largest and most popular cryptocurrency exchange by market cap, has allegedly joined hands with Alipay. When a Twitter user asked if Binance was allowing fiat-to-crypto...

The eyes of the world are currently on the United States and China, as the trade deal negotiations between the two economic powerhouses are taking new turns. Over the last two years, both countries have shown restraint in coming to a mutual consensus. However, there was a renewed optimism in the market after last Friday’s positive results in the trade talks.After the U.S. suspended its next tariff increase on Chinese imports, the U.S. stock market saw a major rally on Friday. The Dow Jones...

Ripple CEO, Garlinghouse, has sounded an alarm geared at calling the United States government to action, reiterating that China’s goal with the CBDC is to destabilize the US dollar. The CEO urged the government of the United States during an interview with Fox Business to be at the forefront of the crypto revolution, instead of China.Garlinghouse talked about the tech boom back in the early 2000s and how the US took control of the industry and benefited immensely from that...

As tensions continue to flare between the U.S. and China amid further trade war competitiveness, Ripple CEO Brad Garlinghouse has pitted the two superpowers against each other yet again, suggesting that America is falling behind China on crypto innovation. A ‘Call to Action’ China’s work on its central bank digital currency (CBDC) has stepped up in recent months. The project, which has been in production since 2014, is inching ever closer to realization, and it has some critics concerned...

According to Binance CEO Changpeng Zhao, investors in China can now purchase cryptocurrencies like bitcoin using local payment processors like AliPay and WeChant through Binance. The confirmation of AliPay and WeChat integration by Zhao comes a month after the announcement of Yi He, the co-founder of Binance, of a fiat-to-crypto over-the-counter trading platform launch in China. The addition of AliPay and WeChat options comes in conjunction with the launch of Binance’s P2P trading...

Anybody who knows anything about the U.S. Stock Market is already familiar with FAANG. An acronym for the five biggest, most popular and impressive tech stocks with significant performance, FAANG stocks have been trailblazers for more than a few years now.They’ve been so certain that people have largely formed a habit of buying into any of the five companies – Facebook (FB), Amazon (AMZN), Apple (AAPL), Netflix (NFLX) and Google’s (GOOGL) parent company, Alphabet – as a completely sure way of...