Chinese Company SOS To Acquire Up To $50M Worth Of BTC
Publicly traded Chinese corporation, SOS, has made a decision to acquire $50 million worth of Bitcoin, as the global appeal of the cryptocurrency continues to increase. SOS, a publicly traded Chinese company , intends to enhance its global crypto investment strategy by investing $50 million in Bitcoin (BTC). The investment will increase the company’s involvement […]
Nano Labs Shares They Now Accept Bitcoin As Payment
After announcing that it is now accepting Bitcoin as payment for its products and services, shares in China-based crypto mining chip designer Nano Labs increased slightly. The Huangzhou-based crypto mining chip manufacturer, which is listed on the Nasdaq, announced in a statement on November 11 that the decision was made as part of a “commitment […]
Xiamen Sophgo Disputes Delivering AI Chips to Huawei
Xiamen Sophgo, a Chinese chip manufacturer, denied any commercial relationship with Huawei following its termination by Taiwan Semiconductor Manufacturing Company. Xiamen Sophgo , a Chinese semiconductor designer with connections to Bitmain, denied any business relationship with Huawei following Taiwan Semiconductor Manufacturing Company (TSMC)’s decision to terminate business relations with it in response to a United […]
China Unveils ¥500B Fund to Boost Stock Market
China’s central bank launched a ¥500 billion ($70.6 billion) funding scheme to support the stock market, allowing financial institutions to use assets as collateral for liquidity. Today, the People’s Bank of China (PBOC) announced establishing a ¥500 billion ($70.6 billion) funding initiative to assist the Chinese capital market. Using their existing stock holdings as collateral […]
Bitcoin Eyes $70K as Stablecoin Inflows and China’s Stimulus Boost
Bitcoin has surpassed $65,000, boosted by China’s stimulus measures and stablecoin inflows. A recent report from 10x Research indicates that Bitcoin has emerged from its recent downtrend and is now aiming for the $70,000 mark again. The report credits this price surge to several factors, including an influx of stablecoin liquidity and a general recovery […]