According to Jeremy Allaire, the price increases in Bitcoin since the beginning of the year were driven by more than just Chinese investors seeking to avoid capital controls. The Circle CEO claims that a belief in this narrative from investors outside of China is likely to behind the rise too.Allaire also believes that although cryptocurrency...Read More
Beijing’s state-issued offering might also help keep funds flowing into bank deposits, mainstream media reports. China’s answer to Facebook’s Libra digital currency could help the central bank attract business away from Alipay and WeChat Pay. Speaking to mainstream media outlet the South China Morning Post (SCMP) on Aug. 19, Cindy Wang, an analyst at DBS...Read More
China’s Shenzhen Special Economic Zone will now support the research and promotion of digital funds and the national cryptocurrency based on the renminbi. On Aug. 18, the Central Committee of the Communist Party of China outlined the plans for the future development of the Shenzhen Special Economic Zone, including the research and promotion of digital...Read More
This article was originally published by 8btc and written by Lylian Teng. Bitcoin’s recent dip under the $10,000 mark is alleged to be directly related to the incessant bitcoin sell-off caused by a $3 billion Chinese Ponzi scheme, and the dump may continue. The scam project, dubbed PlusToken, went bust early in July 2019 after...Read More
Nevermind the double-digit price swings. Despite the day-to-day roller coaster ride of crypto markets, spiking demand in China and Argentina point to a pivot point for the largest digital currency – from risky bet to safe store of value. Demand in China and Argentina Soars as the Yuan and Peso Plummet According to Hong Kong-based...Read More
The bitcoin price slid below the $11,000 mark for the first time in more than a week on Tuesday, as the flagship cryptocurrency’s burgeoning inverse correlation with the S&P 500 came back to bite investors. Bitcoin Price Careens Below $11,000 Bitcoin had entered the day trading sideways in the low $11,000s, where it had more...Read More
China’s long-fabled “cryptocurrency” launch is finally on the horizon. According to Bloomberg, People’s Bank of China (PBoC) payments department deputy director Mu Changchun confirmed at the China Finance 40 Forum that the country’s cryptocurrency is nearing its release following a year of research and development. Given Beijing’s history of antagonism toward decentralized cryptocurrencies, what does...Read More
The founder and CEO of Chinese telecommunications giant Huawei, Ren Zhengfei, has dismissed concerns that Facebook’s planned cryptocurrency Libra could dominate the world at the expense of China and its tech firms, Sina reports. Noting that countries have more power compared to internet firms, Zhengfei stated that China could issue its own digital currency that...Read More
Bitcoin proponents predict that China’s decision to create its own digital currency will ironically drive massive BTC adoption. China: Libra Dollar Peg Would Harm Sovereignty As various media outlets including South China Morning Post (SCMP) reported July 8, China’s central bank said it was already in the process of building the digital token. The impetus,...Read More
