Bitcoin hashrate remains strong during monsoon season
Mining operations in China were not adversely affected by the heavy rains. Go to Source Powered by WPeMatico
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6 Members of the Multi-Billion Dollar Plustoken Scam Charged With Fraud in China
Following the arrest of 109 accused members of the $6 billion Ponzi scheme called Plustoken, six alleged members of the team were prosecuted according to a court filing submitted on Monday. The prosecutors say the individuals are “suspected in organizing and leading criminal pyramid schemes.” The Plustoken scam was a large heist that managed to … Read more
A recap of last week’s ‘DeFi Marathon’ hosted by CT China
China looks into DeFi. Go to Source Powered by WPeMatico
Chinese mining giant Canaan announces $10 million share buyback
Canaan will try to drive up its Nasdaq-listed stock from the $2 price mark. Go to Source Powered by WPeMatico
DeFi experts say that Ethereum 2.0 is not the answer to high gas fees
A better solution might come up before it even exists. Go to Source Powered by WPeMatico
The Care Bears, Roger Ver, and Tesla shenanigans: Bad crypto news of the week
Check out this week’s Bad Crypto podcast. Go to Source Powered by WPeMatico
New DeFi alliance to connect Eastern and Western DeFi markets
The Chinese government is supporting a new global DeFi association. Go to Source Powered by WPeMatico
Digital cold war? United States and China vie for blockchain supremacy
As the tech standoff heats up, China launching a CBDC before the U.S. “absolutely does not guarantee global financial preeminence.” Go to Source Powered by WPeMatico
Canaan Cuts Losses for Second Successive Quarter, Down To $2.4M in Q2; Demand Remains Weak
Canaan Creative, the Chinese maker of bitcoin mining hardware, reported a net loss of $2.4 million during the second quarter of 2020, down from $5.6 million in the previous quarter. It is the second consecutive quarter of narrowing losses for the firm, hit hard by falling demand amid the Covid-19-induced global recession. For the three … Read more
Sichuan’s Blockchain Park: Chengdu Government Officials Welcome Bitcoin Miners
In mid-August officials from the Chinese province of Sichuan approved a number of enterprises that mine bitcoin for legal hydropower consumption in the region. Following the local government of Ya’an city deciding to foster mining, officials from Chengdu recently spoke about welcoming crypto mining at the Hashcon 2020 event as well as bolstering a blockchain … Read more