Huobi suspends Services For Chinese Users In the aftermath of Crypto Ban
Huobi Global, China’s most popular cryptocurrency exchange, was the first to announce the shutdown of its services in the country, this was prompted by China’s new push for a crypto crackdown. New registrations using mainland China mobile numbers have been shut down by the famous cryptocurrency exchange Houbi . For Hing Kong users, however, fresh […]
BTC, ETH and other crypto price drops as China intensifies crypto crackdown
After the Chinese government reiterated its opposition to digital assets, the entire market capitalization of all cryptocurrencies in the industry decreased by over 5% today. The Chinese government stated that “recently, virtual currency trading hype activities have increased, upsetting economic and financial order and fostering unlawful and criminal activities such as gambling, illicit fundraising, fraud, […]
Over $400 Million Liquidated in One Day as Bitcoin Falls Below $41K
Following what appears to be yet another wave of regulatory moves to crack down on cryptocurrencies in China, the market has unexpectedly turned red for Bitcoin, according to market analysts. The Chinese government, according to Coinscreed, is continuing its efforts to further restrict access to the whole cryptocurrency industry. The country’s central bank published a […]
China’s CBDC pegged stablecoin RMB targets international trade
“While the government of China and Shanghai have accepted the use case for the offshore RMB stablecoin, the pilot program is not endorsed or associated with the government,” Banbury added. Conflux will contribute its technology to establish an offshore renminbi (RMB) stablecoin pegged to China’s central bank digital currency (CBDC), the digital yuan, according to […]
BIT Mining’s new 85 MW Bitcoin mining plant to be hosted in Ohio
Bitcoin mining company BIT Mining Limited has formed a joint venture with Viking Data Centres to establish a Bitcoin mining facility in the state of Ohio. BIT Mining, a bitcoin (BTC) mining business, aims to invest $12.14 million in the development of an 85 megawatt cryptocurrency mining facility in Ohio. BTC.com is owned by BIT […]