China shuts down 11 companies suspected of illegal crypto trading
China’s crypto crackdown continues as the Shenzhen branch shuts down 11 out of the 46 companies suspected of illegal cryptocurrency trading. Companies that continue to trade or mine cryptocurrencies risk facing significant fines and prison time. Despite this, a handful of businesses continue to trade in cryptocurrencies , with reports claiming that 46 businesses are […]
Fidelity invests $20 million in Marathon Digital Holdings to acquire a 7.4 percent stake
The shares bought by the $20 million invested in Marathon was received by Four Fidelity index-based funds. Fidelity Investments , a global financial services firm, announced the acquisition of a 7.4 percent stake in Marathon Digital Holdings, a major North American mining company. Marathon currently operates 19,000 miners, with an additional 100,000 machines scheduled to […]
Huobi stops operation in Beijing China
Huobi’s has resolved to dissolve its China-based entity in Beijing. According to the company, “since this corporation has not had any business operations, it is unneeded and has asked for cancellation.” According to publicly available papers, shareholders in the Chinese corporation that was created to operate cryptocurrency exchange, Huobi have decided to liquidate the entity. […]
Cryptocurrency will not suffer from China’s crackdown – Bobby Lee
In order to help Chinese citizens stay clear of high-risk investments, there has been regulatory pressure on crypto firms in China, however, most crypto firms globally are now putting measures in place to remain relevant. Bobby Lee, a Bitcoin (BTC) maximalist and Ballet CEO , recently acknowledged the ramifications of China’s ongoing cryptocurrency crackdown. Despite […]
China Wants US Lawmakers To Stay Off The Digital Yuan
China responded to US senators’ allegations that the digital yuan would be used as a tracking and tracing tool during the 2022 Beijing Winter Olympics. Even before the Olympic flame is lit at the 2022 Beijing Winter Games , tensions between US politicians and Chinese authorities are mounting. During a Tuesday news briefing, Chinese Foreign […]