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“# If you have a Bitcoin miner, turn it on ” In the last few weeks, the Bitcoin (BTC) mining market has experienced a black swan event, leading to a lot of uncertainty and confusion surrounding the future of the market. This is why I felt it was right to give the public a quick…
“# A trade war misstep? China is vacating crypto battlefield to US banks ” At the same time that China has declared war on cryptocurrencies, giant American banks appear to be embracing crypto — evident the final week of July with the news that crypto firm Lukka will provide State Street Bank’s private fund’s clients…
“#The inside story of one of China’s last bitcoin mining tycoons” A Chinese crypto mogul who says he was once responsible for nearly 10 percent of all bitcoin mining in the world is opening up about how China’s crackdown has decimated his business. A 40-year-old businessman named Liu Weiman, who spoke to news Web site…
“# Western nations need better public-private cooperation on crypto, says Mohamed El-Erian ” Mohamed El-Erian, chief economic advisor at Allianz, has called for greater cooperation between western governments and crypto businesses to better leverage the benefits of the ongoing cryptocurrency revolution. In an article published in the Financial Times on Thursday, the famous economist highlighted…
“# Bitcoin hash rate rebounds as major miners are coming back online ” China’s stringent crypto regulations meant closing shop for many Chinese businesses within the Bitcoin (BTC) mining ecosystem. The sudden disappearance of Bitcoin miners from the grid resulted in falling hash rates. The hashing performance, the cumulative computing power of the Bitcoin network, dropped…
“# Genesis Digital Assets raises $125M as mining sector pivots to the west ” Genesis Digital Assets has become the latest Bitcoin mining firm to raise millions towards plans for aggressive expansion amid the exodus of miners from China due to its crackdown on the sector. On July 28, Genesis announced it had closed a…
“# CBDCs ‘concocted in hell by Satan himself’ says ASI president Rich Checkan ” Rich Checkan, the president of Asset Strategies International (ASI) has described central bank digital currencies (CBDCs) as a product that was “concocted in hell by Satan himself.” ASI was founded in 1982 and deals in alternative assets such as precious metals,…
“# Huobi winds down former exchange operator in China ” Stakeholders in the Chinese firm that was founded to operate cryptocurrency exchange Huobi have resolved to dissolve the entity, according to publicly available records. The firm, Beijing Huobi Tianxia Network Technology Ltd., was established in late 2013 and is 70.52% owned by Li Lin, the…
“#Hong Kong High Court guilty verdict handed down in national security case” HONG KONG — The first person to be tried under Hong Kong’s sweeping national security law was found guilty of secessionism and terrorism on Tuesday. The Hong Kong High Court handed down the verdict in the case of Tong Ying-kit, age 24. He’s…
“#Chinese stocks extend losses amid crackdown from Beijing” Chinese stocks extended their recent losses Monday morning amid a renewed crackdown from Beijing that hit education and music-streaming companies. Chinese tutoring companies were among the hardest hit with shares of NYSE-listed TAL Education down almost 24 percent in premarket trading, extending losses from last week. The…