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Interviews with former and current employees shine new light on the crypto exchange’s complicated relationship with its home country. Months before China’slatest crackdown, the Huobi Global cryptocurrency exchange relocated substantial parts of its operations out of the country, primarily to crypto-friendly Singapore, former and current employees told CoinDesk. Huobi had been trying to develop overseas operations since China’s earlier clampdown...
Investors turn away from centralized exchanges in the wake of China’s blanket ban on virtual currency businesses. Crypto investors seem to be betting that China’s latest blanket ban on virtual currency businesses will be a blessing in disguise for decentralized exchanges (DEX) facilitating direct peer-to-peer transactions without an intermediary. That’s evident from the weekend’s market action.CoinDesk 20data shows native tokens...
The SEC’s Office of Investor Education and Advocacy (OIEA) and Division of Enforcement’s Retail Strategy Task Force (RSTF) remind investors to watch out for investment schemes involving digital assets and “Crypto.” Fraudsters continue to exploit the rising popularity of digital assets to lure retail investors into scams, often leading to devastating losses. “Digital assets” include crypto-currencies, coins, and tokens such...
The SEC’s Office of Investor Education and Advocacy is issuing this alert to urge investors to use caution before investing in so-called “initial exchange offerings” through online trading platforms. Initial exchange offerings (IEOs) are a recent development in the rapidly evolving digital asset space. IEOs are similar toinitial coin offerings(ICOs) in that they are initial offerings of digital assets (e.g.,...
Executives from Saudi Aramco and early FTX backer Kenetic Capital explain how they got comfortable with the Blockchain Service Network developer despite its Beijing ties. For its investors, Red Date was an acquired taste. With fewer than 200 employees, mostly engineers, Beijing-basedRed Date Technologyis building the Blockchain Services Network, an architecture that it hopes will be the underlying infrastructure for...
A “dedicated” operation will commence next year to further DeFi, NFT solutions and blockchain education efforts. Emurgo, the commercial and venture arm of Cardano, is investing $100 million to boost decentralized finance (DeFi), non-fungible token solutions and blockchain education efforts for the world’s fourth-largest blockchain. Announced during the Cardano Summit 2021 on Sunday, Emurgo CEO Ken Kodama said the investment...
China’s top regulators are not done with crypto. Chinese authorities ordered a fresh crackdown on crypto mining and outlawed virtually all crypto trading activities on Friday. The People’s Bank of China posted a list of forbidden activities that included some previously in the gray zone of regulation, while the National Development and Reform Commission set out a plan to phase out mining...
Bitcoin erased Thursday’s 3% gain as PBOC stepped up its crackdown on crypto China strengthened its anti-crypto stance on Friday, torpedoing bitcoin’s two-day winning run. The People’s Bank of China (PBOC) said bitcoin, ether, and stablecoin tether do not qualify as legal tender and cannot be used in the currency market. The central bank declared all virtual currency-related activities illegal, including derivative...
Old news suddenly gets picked up on social media, sparking an instant crypto price crash. 3 hours ago Bitcoin (BTC) suddenly lost $2,000 in an hour on Sept. 24 as what appeared to be old news over a Chinese regulatory ban hit social media. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin vs. China: Don’t believe the “FUD” Data...
Key contributor Dean Pappas said he didn’t mean for his project’s public token sale to crash an entire ecosystem. Now VCs are following suit. Grape Network, the project whose token sale broke Solana last week, has raised $1.8 million in total from venture capital (VC) firms and that now-infamous $GRAPE offering. The community toolkit developer closed a $1.2 million round led...
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