Tag Archives: China

Bitcoin, Ether Lose Ground as Twitter CFO Rules Out Crypto Investment, Dollar Index Hits 16-Month High

Bitcoin, Ether Lose Ground as Twitter CFO Rules Out Crypto Investment, Dollar Index Hits 16-Month High

Ned Segal’s comments likely provided a reason for traders to take some risk off the table in the wake of the rising dollar and U.S. tax reporting requirement. Bitcoin, ether and other major coins face selling pressure as anti-crypto comments from Twitter’s chief financial officer soured the market mood. The continued strength in the dollar […]

SHIB Flippened DOGE With $160M in ‘Smart Money’ Backing Latest Pump, Blockchain Data Shows

SHIB Flippened DOGE With $160M in ‘Smart Money’ Backing Latest Pump, Blockchain Data Shows

A new force is behind shiba inu’s most recent price surge. Shiba inu, the self-proclaimed dogecoin killer, briefly surpassed DOGE in market value on Wednesday, according to data from CoinGecko. Both coins now have a market cap of over $31 billion and are toggling between 10th and 11th on CoinGecko’s rankings page. Blockchain data shows that while […]

China FUD Over Bitcoin Mining Is ‘Now Moot,’ Luxor Report Says

China FUD Over Bitcoin Mining Is ‘Now Moot,’ Luxor Report Says

Bitcoin’s hashrate is expected to climb back near its all-time highs, potentially helping mining profitability, as China’s grip on the sector subsides. The ”Fear, Uncertainty and Doubt” or FUD about China controlling the cryptocurrency is “now moot” as Bitcoin’s hashrate is expected to reach near all-time highs, according to a report by Luxor Technologies. The […]

Ahead of Crackdown, Huobi Scrambled to Move Staff Out of China, Insiders Say

Ahead of Crackdown, Huobi Scrambled to Move Staff Out of China, Insiders Say

Interviews with former and current employees shine new light on the crypto exchange’s complicated relationship with its home country. Months before China’s latest crackdown, the Huobi Global cryptocurrency exchange relocated substantial parts of its operations out of the country, primarily to crypto-friendly Singapore, former and current employees told CoinDesk. Huobi had been trying to develop overseas […]

Leading Crypto Mining Machine Maker Bitmain Said to Halt Sales in China

Leading Crypto Mining Machine Maker Bitmain Said to Halt Sales in China

Beijing-based Bitmain will also move most of its production out of southern China and into other countries in response to the latest government crackdown, sources said. Bitmain, one of the world’s largest manufacturers of bitcoin mining machines, is planning to suspend sales of its machines to miners in mainland China following the latest Chinese government ban […]

Bitcoin Drops $2K as China Declares Cryptocurrency-Related Business Illegal

Bitcoin Drops $2K as China Declares Cryptocurrency-Related Business Illegal

Bitcoin erased Thursday’s 3% gain as PBOC stepped up its crackdown on crypto China strengthened its anti-crypto stance on Friday, torpedoing bitcoin’s two-day winning run. The People’s Bank of China (PBOC) said bitcoin, ether, and stablecoin tether do not qualify as legal tender and cannot be used in the currency market. The central bank declared all virtual […]

Market Wrap: Bitcoin Declines Into the Weekend, as Volatile Month Continues

Market Wrap: Bitcoin Declines Into the Weekend, as Volatile Month Continues

The technical charts suggest further downside is likely as sellers react to extreme overbought conditions since March. Bitcoin traded lower on Friday as the price struggled near the $35,000 resistance level. The cryptocurrency was trading around $32,000 at press time and is down about 8% over the past 24 hours. Some analysts expect continued weakness […]

Crypto Long & Short: Peter Thiel Defines Bitcoin’s Accidental Role in Global Politics

Crypto Long & Short: Peter Thiel Defines Bitcoin’s Accidental Role in Global Politics

Thiel’s comments about China “weaponizing” bitcoin to hurt the U.S. are a warning about the cost of inaction. The battle over bitcoin’s evolving role just became a piece in a complex game of political strategy. Peter Thiel’s talk earlier this week at a Richard Nixon Foundation event thrust the cryptocurrency even further out onto the geopolitical stage […]