Dovey Wan

Huobi, OKEx Avoid Being ‘Iced Out’ by Chinese Government

China favors some crypto exchanges before others, with Huobi rising as one of the favorites. Recent analysis of the Chinese crackdown against the crypto sector showed that not all companies were necessarily created equal. Minor, Shady Markets Face the Worst Crackdown Both Huobi and OKEx will see more favorable acceptance, commented Matthew Graham, CEO of...
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Crypto Exchange Regulations are Coming to Hong Kong

Financial regulators in Hong Kong will introduce clear cut rules to govern the operations of cryptocurrency exchanges. Meanwhile, reports show that fund managers continue to struggle with the stringent requirements for crypto investment in Hong Kong. SFC To Regularize Hong Kong Cryptocurrency Exchange Scene According to Reuters, Hong Kong’s Securities and Futures Commission (SFC) is...
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China Unironically Bans Blockchain Slurs as Crypto Launch Looms

Authoritarian China has unironically banned criticism of blockchain technology. The move comes after President Xi Jinping publicly called for more blockchain research. The crypto industry remains divided about China’s sudden pivot. In one of the biggest U-turns in crypto history, China professed its love for blockchain. Now, the nation is going as far as to...
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Primitive Ventures’ Dovey Wan on Significance of China’s New Cryptography Law

On October 26, the Standing Committee of the 13th National People’s Congress in China revealed that a new cryptography law will go into effect January 1, 2020, according to local news outlet Xinhuanet. The announcement comes only a day after Chinese president Xi Jinping called on the citizens of the $12 trillion economy, the second-largest...
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What Drove Bitcoin Price to $10,500? Not Chinese Crypto Traders, Apparently

Bitcoin has seen an absolute whirlwind of the past 48 hours. As you likely know, the leading cryptocurrency has traded within a massive $3,300 price range as crypto markets have incurred their latest bout of volatility after weeks of lull. At its local peak, Bitcoin was trading for $10,500; now, BTC is changing hands for...
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Strong Ripple Effects Hit The Market After Xi Jinping’s Comments

A strong ripple effect seems to be coming to the market after the Chinese president pronounced the words ‘’blockchain’’ and ‘’breakthrough’’ and the bitcoin price started to pump. As we can see in the latest news on altcoin, the Primitive founding partner Dovey Wan, noted some additional effects caused by the comments. The fact that...
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Korean Crypto Market Is ‘’Pretty Dead’’: Dovey Wan

An announcement on October 18 shows that the major Bittrex exchange is shutting down and withdrawing services from 31 countries by the end of this month. The cryptocurrency exchange announced that its Europe-based international trading platform is in a weak position – and cited regulatory uncertainty as the main reason behind the move.However, it still...
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Korean Crypto Market is ‘Pretty Dead’, Says Primitive Ventures Founder

Korean traders have thrown in the towel, with crypto trading volumes visibly lower over the last few months. The Kimchi premium is now completely gone, and the slower volumes have wiped out the markets for multiple altcoins. Korean Traders Lose Taste for Risk Dovey Wan, the co-founder of PrimitiveCrypto, has commented on the outflow of...
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Video Shows $10M Chinese Bitcoin Mining Farm in Flames

During the early morning hours of September 30, a nine-minute video circulated on Twitter showing a large bitcoin mining farm burning down. Sources say the mining farm belonged to the company Innosilicon and roughly $10 million worth of mining rigs were destroyed. Also Read: Central Banks in Panic Mode – Extreme Tactics Like Helicopter Money...
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Bitcoin mining farm in China allegedly burns down as coin records minor fall in hash rate

Adding to China’s list of crypto-disasters this year, a local mining farm has allegedly caught fire for reasons that are yet to revealed. The disaster that befell the Innosilicon-powered data center’s was first reported on Twitter by @OGBTC, who tweeted, “The big datacenter from Innosilicon just went nuclear $BTC“ Source: @OGBTC The above image was...
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Bitcoin Hash Rate Slows Uptrend as Fire Scorches Mining Farm

Ouch, Crypto Mine on Fire While Bitcoin is a digital coin, it has a physical component: nodes and miners. A network of tens of thousands of mining machines constantly process transactions and place them into blocks, creating a chain. Due to their physicality, these machines are susceptible to risk. A “mega farm” recently found this...
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Chinese Police Raid Offices of ‘Well Known Crypto Project’

The police in China have carried out another raid on a cryptocurrency project, sealing up offices belonging to the GXChain (GXC) project. Well-Known 2017 Cryptocurrency Project Targeted by Police Tweeting on Wednesday (September 11, 2019), Primitive co-founder Dovey Wan revealed that the Chinese police has taken action against GXChain. BREAKING Another high profile 2017 ICO...
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How the PlusToken Scam Absconded With Over 1 Percent of the Bitcoin Supply

On June 27, 2019, a handful of leaders for a wildly popular ponzi scheme that spread across Asia were arrested by Chinese authorities after they managed to fleece unwitting customers out of roughly $3 billion.  PlusToken, as it was called, promised its “investors” monthly returns of anywhere from 10 to 30 percent in its eponymous...
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Did the PlusToken Scam Cause a Bitcoin Price Dip?

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...
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