Cryptocurrency Analysis and News Portal
For Binance, Mars Finance is the first strategic investment in China since 2017, when Beijing banned digital coin trading and the exchange withdrew from this market.One of the world’s most popular cryptocurrency exchanges Binance has made its first strategic investment in China. The company has invested in Mars Finance, a
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The local authorities in the Philippines have reportedly raided the offices of an alleged cryptocurrency scam and arrested the scammers who were targeting investors in China.According to a Sept. 15 report by local news outlet Inquirer, the raid was initiated by the agents from the Bureau of Immigration, the Presidential
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Cryptocurrency exchange Binance, the world’s largest by trading volume, has made a strategic investment in Chinese media and data source Mars Finance. According to a report from Bloomberg citing a press release, the investment amount was not disclosed, but
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Regulators in the Chinese autonomous province of Inner Mongolia have issued a notice demanding a clean-up of the province’s crypto mining enterprises.Terms of noticeAs local crypto outlet ChainNews reported on Sept. 14, five departments within Inner Mongolia have determined the need to rectify the mining industry within the province.
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GXChain is a Chinese cryptocurrency project founded in 2016. Recently it was targeted by China’s police, which resulted in the sealing of GXChain offices in Hangzhou.The news broke out initially when Davey Wan, the CEO of the crypto asset holding company Primitive Ventures, tweeted on September 11th that Chinese police
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The offices of Chinese initial coin offering (ICO) startup GXChain have reportedly been closed by the local police.On Sept. 11, Dovey Wan — founding partner of blockchain-based investment company Primitive Ventures — tweeted a photo of an office taped closed (presumably by Chinese police) and announced that GXChain “got
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The popular stablecoin issuer, Tether (USDT), has announced that it plans on launching a new stablecoin, CNH₮, backed by the offshore Chinese yuan. CNH₮ will run on top of the Ethereum blockchain as an ERC-20 token.In a blog post, Tether stated that CNH₮ represents a further expansion of the organization’s
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Stablecoin firm Tether announced the launch of a new stablecoin tied to the offshore Chinese yuan dubbed CNHT.According to an announcement on Sept. 9, Tether CNHT is pegged to the offshore yuan and available as an ERC-20 token on the Ethereum blockchain. The new currency joins Tether’s other stablecoins
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As the Chinese yuan falls in value due to factors like the ongoing trade war with the U.S., there are signs that locals are increasingly moving funds into bitcoin. According to a Bloomberg analysis of prices over 30 days,
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An illegal crypto mining operation involves hijacking multiple internet cafes, bribery and some 100 million yuan in crypto. | Source: ShutterstockFifteen Chinese individuals have reportedly been arrested for their involvement in an illegal cryptocurrency mining operation that hijacked the bandwidth of scores of internet cafes to mine approximately 100
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