Huobi reveals plan for investors in China after stopping crypto trade
“Customers will be able to transfer their assets to other exchanges or wallets over the next few months. Specific measures and operating rules will be outlined in future announcements,” says Huobi Group co-founder Du Jun. As indigenous crypto exchanges like Huobi take aggressive measures to secure and repay existing money residents on the mainland, the […]
Panic sales: China’s crypto ban sparks panic selling among Indians
An unprecedented wave of trading activity swept through India, with transaction volumes increasing by roughly 50% on major crypto exchanges as Bitcoin and Ethereum plummeted to record low levels. This isn’t the first time China has stated its opposition to the use of cryptocurrency. As the country’s anti-crypto stance was reaffirmed, many people panicked and sold their holdings, fearing a loss of profits or investments. To sustain their gains, crypto investors were seen selling smaller asset holdings in the majority of […]
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 […]