Tag Archives: China

Texas became a serious crypto mining hub about two years ago, and it looks like things are set to stay this way for some time. Despite a wide array of headwinds and problems the industry has been facing, Texas crypto mining has remained quite steady, and the Lone Star State is still being sought out by new companies and facilities. Texas Is Still the High-Ranking Crypto Mining Official Texas became a serious region for crypto mining beginning in the summer of 2021. The...

Bitcoin shot up again in early March, and investors have been given another hopeful boost. Bitcoin Hikes Its Price Up a Bit in Early March The currency experienced a bit of dip towards the end of February. The world’s number one digital asset by market cap had shot up to a six-month high of about $25,000 per unit during the midway point of the month, though just a few weeks later, the asset had fallen to about $23,000, roughly $2,000 less than where it had been shortly...

The financial watchdogs of Hong Kong will reportedly host a meeting between domestic cryptocurrency businesses and bankers. The initiative could ease financing for the industry as the region seeks to emerge as a global digital asset hub. Crypto firms based in Hong Kong have supposedly received support from leading Chinese banks in the past several weeks, although the authorities of the most populated country are predominantly against the asset class. Another Step Towards the...

The subsidiaries of some of the largest Chinese banking institutions, including the Bank of Communications, the Bank of China, and Shanghai Pudong Development Bank, have reportedly either started offering their services to cryptocurrency businesses based in Hong Kong or reached out to them. The special administrative region has recently emerged as a digital asset hub, attracting numerous industry players to settle in the area. One example is the crypto exchange Huobi Global...

A&T Capital’s founding partner Yu Jun reportedly resigned from his position earlier this month. While the crypto fund cited “personal issues” as the reason, Jun has refrained from commenting on the matter. According to a statement to Bloomberg, A&T Capital said that Jun, a veteran in China’s crypto investor community, is no longer involved with the company’s operations. Jun was an investment director of Ant and assisted the Jack Ma-backed fintech empire to establish...

On March 23, CNBC reported that a group of Binance angels shared techniques that allow users to bypass the platform’s KYC, residency, and verification systems. CNBC confirmed the information by reviewing hundreds of messages posted on a Discord server and a Telegram group controlled and operated by Binance, which apparently ran from 2021 to March 2023. Crypto is banned in China, but Binance employees and volunteers tell people how to bypass the ban https://t.co/ddssYTwimH —...

Bitcoin has been having a very good year in 2023. The currency is up 50 percent since the end of 2022, and it looks like it’s going to be enjoying at least another few solid months in the coming future thanks to leniency from China. China Is Stepping Back Into the Crypto Picture For the most part, China has always been a big player in the bitcoin and crypto communities. The country once accounted for close to three quarters of the world’s bitcoin and crypto mining...

Increasing electricity costs and a decline in digital asset prices coupled with high mining difficulty in the fourth quarter slashed mining profit margins and made it difficult for miners to stay afloat. Chinese crypto mining rig maker – Canaan – reported a mining revenue of $10.5 million in the fourth quarter, representing an increase of 16.3% from the previous quarter. It was also up by a staggering 368.2% compared to the same period in 2021. But the bigger picture tells a...

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Tencent Cloud announced strategic collaborations with prominent companies in the crypto industry namely – Ankr, Avalanche, Scroll, and Sui – to support the development of the Web3 ecosystem. According to the official statement by the subsidiary of the Chinese tech giant, the latest move aims to establish close relationships with industry partners to assist developers to accelerate the adoption of Web3. Tencent Fortifying Presence in Web3 Tencent Cloud International’s Senior...