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Bitcoin Miner Canaan’s Shares Plunge 40% Since IPO in November

News Chinese Bitcoin (BTC) mining giant Canaan Creative’s depositary shares have seen a 40 percent drop in value since November initial public offering (IPO). Canaan was the first Bitcoin mining giant to go public on a major United States stock exchange, and successfully navigate an IPO. However, ..

Despite Crypto Crackdown: Bitcoin Mining Remains Centralized in China

Over the past few weeks, China has renewed its efforts to force cryptocurrency firms out of its borders. As Blockonomi reported earlier this month, Beijing’s new offensive on cryptocurrency forced five locally-operated exchanges to suspend or cease their activities in the country. The exchanges tha..

Study: China’s BTC Miners Control 66% of Global Hash Rate

News Chinese Bitcoin (BTC) miners are now responsible for controlling as much as 66% of global hash rate, a new report claims. China’s Sichuan province is accounting for over half the global hash rate, according to a study by London-based digital asset manager CoinShares, Reuters reports Dec. 11. ..

China: Former Central Bank Exec to Reportedly Head New Tech Regulation Division

News China’s securities regulator is reportedly setting up a tech division that will be headed by the former chief of the central bank’s digital currency initiative. Yao Qian, a former director of the Digital Currency Research Institute at the People’s Bank of China (PBoC), will serve as director ..

World’s 2nd-Largest Bank CCB Launches Blockchain Refactoring: Report

News China Construction Bank (CCB), the world’s second-biggest bank by operated assets, has officially launched its blockchain-based refactoring platform. Targeting commercial factoring business, CCB aims to bolster operations and reduce major risks in its refactoring business while providing shar..

Wu Jihan Resurfaces As Bitmain CEO After Co-Founder Is Forced Out

News Bitmain co-founder and tech billionaire Wu Jihan resurfaces at the helm of Beijing-based mining giant Bitmain at a recent meeting with clients. On Dec. 10, Bloomberg reported that Wu Jihan made a public appearance at a private event last Saturday in Chengdu, capital of southwestern China’s Si..

One of China’s Largest Banks Uses Blockchain for Bond Issuances

This October, President Xi Jinping of China revealed in a statement to some of the nation’s top officials that he would be pushing for the formal adoption of blockchain technologies. Xi’s statement implied that he has high ambitions for this blockchain push, with the world leader mentioning finance..

After Hard Fork, Ethereum Takes Second in China’s Blockchain Rankings

News China’s state-backed tech workgroup has released its fifteenth blockchain technology assessment, in which it promoted Ethereum to second place after its recent hard fork. The Center for Information and Industry Development (CCID) released the list on Dec. 6, ranking 35 assets in total. In the..

China’s Central Bank Uses Blockchain to Issue $2.8B Worth of Financial Bonds

News The adoption rate of blockchain technology in China continues to impress as the People’s Bank of China (PBoC) has reportedly issued 20 billion yuan ($2.8 billion) in blockchain-based special financial bonds for small and micro enterprises. According to local news outlet Sina Finance in early ..

China’s Central Bank to Lead Real-World Pilot of Digital Yuan: Report

News China is at last planning to conduct the first real-world test of its central bank digital currency (CBDC), fresh reports claim. According to local news outlet Caijing on Dec. 9, the initial pilot for the CBDC is set for the city of Shenzhen before the end of 2019, and may possibly include t..

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