Xinjiang Uyghur is an autonomous region in China which is home to many Bitcoin mining operations. Not all of these Bitcoin mining operations are legal. This is the reason why the authorities are finally decided that by the end of August, the illegal mining activities will be curbed. The economic...
The United States is one of the favorite destinations for the Chinese millionaires who have earned a great deal of money with the help of cryptocurrencies. One such millionaire by the name of Guo Hongcai just bought a 1,00,000 ft.² mansion in Los Gator. He was one of...
China is the hotbed for cryptocurrency mining. There are plenty of large cryptocurrency mining operations in China. In a recent development, the Chinese authorities specifically the Chinese police have seized over 200 mining rigs. These mining rigs were used for mining Bitcoin as well as Ethereum. The allegation is that...
A local prosecutor’s office in China recently prosecuted 98 people. They recovered the amount equivalent to $ 267.5 million. This was in connection to a pyramid scheme which involved investing in cryptocurrency by the name of OneCoin. Last time we had also seen a teacher who was forcing his...
Canaan Inc is the 2nd largest manufacturer of Bitcoin mining hardware. Owing to the significant demand for Bitcoin mining hardware, the sales of this company have increased significantly. Recently, the company filed for IPO application in Hong Kong stock exchange. The advisers to the IPO are Morgan Stanley, CMB International...
Yesterday, May 9 was the launch day of “Xiao Xiexi”, a third-party app based on blockchain for users of WeChat, the Chinese company of instant messaging services. But WeChat suspends this in less than 24 hours after its launch, due to violations of certain unspecified rules. According to the Caijing...
