China’s cryptocurrency crackdown leads to a fall in Ethereum Mining Hashrate
The crackdown on cryptocurrency miners by the Chinese government is not only telling on Bitcoin but also has a role to play in the Ethereum mining hash rate. According to data from Etherscan, the Ethereum mining hashrate, which peaked at 643,805.8731 GH/s on May 20, 2021, is rapidly declining. After decreasing by a staggering 21,397.4621 […]
Miami Mayor Opens The Doors Of His City To Chinese Bitcoin Miners
Miami Mayor said his city could offer a better alternative of cheap nuclear energy to Chinese miners who face harsh regulation. The Mayor of Miami, Francis Suarez, told CNBC that the doors of his city were open to Chinese Bitcoin miners who had recently faced repression by their own officials. Suarez told CNBC: “We want […]
CHINA’S LATEST BITCOIN “BAN” IS AFFECTING MINING BUSINESSES
Last week, China banned financial institutions in the country from Bitcoin trading and that it will be cracking down on the mining businesses. Lots of Bitcoin platforms (this publication included) met the news with rolling eyes — China has historically “banned” its businesses from using Bitcoin many times with little impact and it’s also not technically possible […]
Crypto limps to end of the week after hammer blows from Musk, China
The cryptocurrency market nursed its wounds Friday after a week of pain triggered by a Chinese regulatory warning shot, forced selling, and a possible U.S. tax clampdown. If that wasn’t enough, Bitcoin believers are still fuming after onetime proponent Elon Musk did an about-face and criticized the token for its energy usage. Bitcoin fluctuated around […]
What Beijing’s new crackdown means for cryptocurrency in China
Chinese regulators have fixed limitations that boycott monetary organizations and installment organizations from offering types of assistance identified with cryptocurrency, denoting a new crackdown on advanced coins. A significant number of the new guidelines develop past limitations focused on digital forms of money and close escape clauses that had permitted some account and installment firms […]