Cryptocurrency Analysis and News Portal
China continued its crackdown on crypto, leading to massive amounts of bitcoin and Ethereum being moved from exchanges. Immense pressure from Chinese central banks following the latest iteration of the China crypto ban has seen exchanges suspending operations in the region. In light of this, large amounts of crypto are
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BeePool, the world’s fourth-largest Ethereum mining pool in terms of processing power, or hashrate, will suspend all its services to miners starting on Oct. 15 at 15:59 UTC (11:59 a.m. ET), the company said on Tuesday.For now, the China-based mining pool operator has suspended registrations for new users and new
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Chinese e-commerce giant Alibaba is the next company to wrap its cryptocurrency-related services in response to the ongoing crypto crackdown in China.Alibaba officially announced Monday that its platform will prohibit sales of cryptocurrency miners and suspend categories for blockchain miners and accessories from its website on Oct. 8.In addition to
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Major cryptocurrency exchanges are cutting ties with users in China following the latest crypto crackdown announcement by the Chinese government. Huobi has stopped letting new users in China sign up for its services while Binance has blocked account registrations using Chinese mobile phone numbers. Major Crypto Exchanges Stop Signing Up Chinese
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Hangzhou-based SparkPool said it had initially stopped providing services to new users in China as of Sept. 24, and would completely suspend services to all its existing users, both in China and abroad, as of Sept. 30, in a message to users dated Sept. 26. Source
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Following the latest statements from China’s central bank concerning cryptocurrencies and offshore crypto exchanges, massive amounts of funds have been moving onchain. On September 26, at approximately 1:00 a.m. (UTC) 72,999 BTC or $3.1 billion in bitcoin was dispersed to unknown wallets. Huobi to Gradually Retire Mainland China Users, 800K Ether
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Several U.S. lawmakers see China’s authoritarian crackdown on cryptocurrency, including bitcoin, as “a perfect opportunity for American leadership on cryptocurrency.” One senator noted that it is “a reminder of our huge structural advantage over China.” US Lawmakers Comment on China’s Cryptocurrency Crackdown Following the latest news of China’s crackdown on cryptocurrency, several
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“Yet again, the Chinese government has cracked down on Bitcoin. Since 2013, it has done so at least seven times now – and twice this year already. While each time this happens, the markets react with a price drop, each time the effect is smaller and more short-lived. The ‘China
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“Yet again, the Chinese government has cracked down on bitcoin. Since 2013, it has done so at least seven times now – and twice this year already. While each time this happens, the markets react with a price drop, each time the effect is smaller and more short-lived. The ‘China
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Chinese authorities ordered a fresh crackdown on crypto mining and outlawed virtually all crypto trading activities on Friday.The People’s Bank of China posted a list of forbidden activities that included some previously in the gray zone of regulation, while the National Development and Reform Commission set out a plan to
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