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Founded in 2013, Bitmain was one of the earliest manufacturing companies to make an application-specific integrated circuit (ASIC), which is a powerful, specialized machine for bitcoin mining. ASICs have enabled miners to scale up their mining operations and increased mining difficulty exponentially. Original Source
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China is sparing no efforts to accelerate its blockchain development, with a growing number of patents related to the emerging technology. Wang Jianwei, a deputy head of the information technology development division at China’s Ministry of Industry and Information Technology, said on Monday at a forum that China currently has over
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The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies
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Institutional investors were buying the dip on the back of China’s latest FUD, with digital asset investment products generating $95 million worth of inflows last week. According to CoinShares’ Sept. 27 Digital Asset Fund Flows Weekly report, a surge in dip buying helped drive a sixth consecutive week of inflows
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Bitcoin was slightly lower on Monday as traders remained cautious about regulatory crackdowns from China and elsewhere.The cryptocurrency was trading at about $43,000 at press time and is roughly flat over the past 24 hours. Analysts are monitoring blockchain data for signs of buyer accumulation, although it may be too
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In the wake of yet another iteration of China’s enduring crackdown on cryptocurrency, a particularly influential narrative on Crypto Twitter suggests that by banning Bitcoin (BTC), China has definitively put itself on the dark side of the struggle, while the collective West must now resolutely throw its weight on the
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Bitcoin saw the largest inflows of any crypto investment product with a total of $50 million, also the most in three weeks, although bitcoin has experienced the brunt of negative investor sentiment over the last two quarters, the report said. Funds focused on the largest cryptocurrency by market value have
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Decentralized derivatives exchange dYdX has seen a surge in trade activity as concerns surrounding a renewed Chinese crypto crackdown have circulated this year, with the DEX now processing more volume than Coinbase's spot markets for the first time.According to CoinGecko, dYdX has facilitated more than $4.3 billion worth of trades
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The billionaire investor and CEO of Galaxy Digital, Mike Novogratz, says the bitcoin market is in good shape, noting that he sees “so much capital coming into the space.” He also commented on the dwindling influence China has over the crypto market. Billionaire Investor Says the Market Is ‘in Good Shape’
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“Huobi Global will gradually retire existing Mainland China user accounts by 24:00 (UTC+8) on Dec 31, 2021, and ensure the safety of users’ assets,” the exchange’s official statement published early today said. “We will inform users of the specific arrangements and details through official announcements, e-mails, text messages, etc.” Source
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