This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. It has now been two months since the crypto crackdown and subsequent enforcement began. Most new stories are now just the trickling down
Month: July 2021
Crypto markets faced another day of struggle on July 15 as the price of Bitcoin (BTC) dropped to its “final support zone” near $31,000, which prompted traders to issue dire predictions about the future should bulls fail to hold this level. Despite the struggles facing the crypto market at large, relatively obscure altcoins like Aavegotchi
After the researchers from the Cambridge Bitcoin Electricity Consumption Index (CBECI) project said that the website’s “Bitcoin Mining Map” had not been updated since April 2020, the map has finally been updated. Current data from the mining map shows the coverage goes all the way up until April 2021, and the estimate of China’s hashrate
Ethereum netflows seem to be negative across all exchanges right now, as exchange reserves continue their downward trend. Ethereum Reserves On A Downtrend As pointed out by a CryptoQuant post, ETH reserves continue with a downward trajectory. The all exchange netflows are also very red. The Ethereum all exchanges reserve is an indicator that shows
A Canada-based Bitcoin fund, operated by 3iQ Corp, has witnessed a dramatic decline in its BTC reserves since June. Literally named the Bitcoin Fund (QBTC:CN), the closed-end investment product, was holding around 24,000 BTC in its vaults in early June. However, as the monthly session progressed, the reserves first dropped to below 16,000 BTC in
Brazil’s Comissão de Valores Mobiliários (CVM), the country’s securities regulator, has approved an Ether (ETH) exchange-traded fund (ETF), according to an announcement by QR Capital, the holding company of QR Asset Management. The fund, which trades under the ticker QETH11 will trade on Brazil’s highly reputable B3 stock exchange, which operates as a regional exchange and
The U.S. Department of State has announced it will be taking a seemingly more active role in the pursuit of keeping some crypto users accountable. According to a Thursday Bloomberg report, the Biden administration intends to ramp up efforts to trace cryptocurrency payments, particularly when it comes to ransomware attacks. The government plans to address
The United Kingdom’s Financial Conduct Authority (FCA) has created an 11 million pounds sterling ($15.2 million) digital marketing campaign to warn citizens about the risks associated with crypto investments. Nikhil Rathi, chief executive of the FCA, made this known in a draft speech for the agency’s webinar titled “Our Role and Business Plan” delivered on
Two East European nations, Poland and Romania, are now among the top 10 countries hosting the most cryptocurrency ATMs. The global number of teller machines supporting crypto transactions has increased exponentially over the past months, now reaching over 23,000 devices. Poland Ranks Among Leading Crypto ATM Destinations The growth in popularity and market prices of
For luxury brands, usual business and marketing practices work upside down. While other businesses aim to scale, optimize and become accessible — luxury brands are supposed to be a cold and beautiful dream, causing admiration and (rarely fulfilled) desires of ownership. Building a luxury brand takes generations of storytelling, and the skill of maintaining a
Amid the ongoing regulatory uncertainty to cryptocurrencies in India, a high court in the country’s capital is taking action to regulate advertising by local crypto exchanges. The Delhi High Court has issued notices to local authorities and crypto firms in an effort to enforce guidelines for crypto exchanges advertising on national television, the New Indian
Publicly traded North American Bitcoin mining company, Bitfarms, has doubled its productivity this year amid the Chinese crackdown and resultant miner migration. The Canadian hydroelectricity mining outfit claims to be currently powering an estimated 1.5% of the entire Bitcoin network with more than 99% renewable green energy. In a July 14 production update, the firm
The DeFi Education Fund (DEF), an organization funded by Uniswap to spearhead lobbying and educational initiatives in support of the decentralized finance sector, has defended its sudden move to liquidate half of its UNI treasury earlier this week. The organization said it needed to convert the funds into stable assets to weather crypto market volatility.
Ethereum’s native token Ether (ETH) reclaimed $2,000 in the early New York trading hours Wednesday as crypto traders assessed the Federal Reserve Chairman Jerome Powell’s prepared congressional testimony. The ETH/USD exchange rate surged 7.19% to reach its intraday high of $2,019.90. Likewise, Bitcoin (BTC), whose 7-day positive correlation with Ether stands at 0.84 above zero,
France has proposed giving more power to the Paris-based European Securities and Markets Authority (ESMA) and making it responsible for cryptocurrency oversight. French regulators say cryptocurrencies need EU-wide regulation. EU-Wide Crypto Regulation With ESMA as Main Supervisor France proposed Tuesday that the EU governments give the responsibility of regulating cryptocurrencies to the pan-European markets watchdog,
In early 2021 Bitcoin and Ether price was the center of attention as each asset seemed to hit a new all-time high every 24-hours and traders called for $100,000 BTC and $5,000 ETH. Fast forward to the present and both assets are still more than 40% down from their all-time highs and the bulls calling