China

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Hong Kong Protest Leader Hopes to Incite Run on Chinese Banks

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The 11th week of protesting in Hong Kong has passed as the world has witnessed massive sit-ins at the national airport and demonstrations across several locations citywide. The 2019 anti-extradition bill protests have affected Hong Kong’s local economy, investors have dumped on the benchmark Hang Seng index, and now pro-independence activist, Chen Haotian, has called … Read more

Alleged Chinese Ponzi Scheme PlusToken has Collapsed

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Cryptocurrency scams and pyramid schemes will always be present. One Chinese project, called PlusToken, is currently generating a lot of attention. It seems this project raised roughly $2bn worth of Bitcoin and has now begun liquidating it. While the evidence is still circumstantial, it would explain the current bearish market trend.  The PlusToken “Ponzi Scheme” … Read more

Central Banks Worldwide Testing Their Own Digital Currencies

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Central banks worldwide are examining the possibility of issuing a central bank digital currency (CBDC), with some already testing theirs for different uses. Countries that have advanced their digital currency projects include China, Singapore, Canada, the Bahamas, Thailand, Uruguay, and Sweden. India has also included the digital rupee in the country’s draft cryptocurrency bill. Also … Read more