Former Chinese central banker says digital yuan ‘usage has been low’
A former official of the People’s Bank of China (PBOC), the country’s central bank, has expressed disappointment that China’s digital yuan is seeing little use. Xie Ping, a former PBOC research director and current finance professor at Tsinghua University, made critical public comments about China’s central bank digital currency (CBDC) at a recent university conference, […]
Over 1,400 Chinese firms operating in blockchain industry, national whitepaper shows
On Dec 29, the state-owned China Academy for Information and Communications Technology, or CAICT, published a document titled “2022 Blockchain Whitepaper.” According to the paper, more than 1,400 blockchain firms are currently based in Mainland China. Together with the U.S., the two countries represent a 52% market share in terms of global blockchain enterprises. The […]
Chinese Communist Party official pleads guilty to helping Bitcoin miners
According to a report published by state-owned daily news program Xinwen Lianbo on Dec. 29, Xiao Yi, the former Communist Party secretary of the City of Fuzhou, pleaded guilty to corruption charges in the Zhejiang Hangzhou Intermediate People’s Court. During his tenure as director from 2008 to 2021, Yi was accused of accepting over 125 […]
China’s first national NFT marketplace to launch next week: Report
According to a report published by local news outlet Sina News on Dec 28, China will launch its first regulated platform for nonfungible tokens (NFT) trading on Jan 1, 2023. The entity, which acts as a secondary market for the exchange of NFTs, was created by the state-owned Chinese Technology Exchange, the state-owned Art Exhibitions […]
Canaan expects minor revenue drop in 2022 despite crypto mining crisis
Cryptocurrency mining giant Canaan continues to generate significant revenues from crypto operations despite the ongoing crypto mining crisis. Canaan’s total revenue for the first nine months of 2022 was roughly 4 billion Chinese yuan (RMB), or about $573 million, a spokesperson for Canaan told Cointelegraph. As the firm expects to generate another 310 million RMB […]
Bitcoin mining pool BTC.com reports $3M cyberattack
Major cryptocurrency mining pool BTC.com has suffered a cyberattack resulting in a significant loss of funds by the company and its customers. BTC.com experienced a cyberattack on Dec. 3, with attackers stealing around $700,000 in client assets and $2.3 million in the company’s assets, the mining pool’s parent firm BIT Mining Limited officially announced on […]
Bitcoin bulls protect $17K as trader eyes key China BTC price catalyst
Bitcoin (BTC) maintained $17,000 support into Dec. 10 ahead of a critical week of macro data. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView CPI print will make Fed “slow down” Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it traded sideways after the close of trading on Wall Street. The pair looked set […]