Chinese Court Orders Refund in Controversial Crypto Contract Dispute

November 21, 2024 Bitcoin.com

bitcoin.com

A Shanghai court ordered a partial refund after ruling a token fundraising contract illegal, citing violations of Chinese financial regulations. Token Fundraising Faces a Major Setback in a Shanghai Court Judgment The Shanghai High Court published details on Wechat Monday about a crypto-related case highlighting the legal complexities of virtual currency activities in China. The […]

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Bitcoin ‘Santa rally’ buyers step in to drive BTC price to $98K

Hashkey CEO: Trump’s Crypto Push Could Force China to Pivot

November 15, 2024 Bitcoin.com

bitcoin.com

Xiao Feng, CEO and Chairman of Hashkey, one of the few licensed crypto exchanges in Hong Kong, believes that Trump’s support for the cryptocurrency sector could accelerate a pivot from anti-crypto policies in China. Hashkey CEO: China Might Pivot Its Anti-Crypto Policies Following Trump’s Moves The recent endorsement of the cryptocurrency sector and bitcoin as […]

Bitcoin ‘Santa rally’ buyers step in to drive BTC price to $98K

Trump Administration Could Compel China To Embrace Crypto, According to Hashkey Group CEO: Report

November 13, 2024 The Daily Hodl

Blockchain

A crypto-friendly Trump Administration could pressure China into easing up on its digital asset hostility, according to the executive at a prominent Web3 firm. Hashkey Group chief executive Xiao Feng says in a new interview with the South China Morning Post that he “firmly” believes the mainland China crypto market will open up eventually, particularly […]

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Bitcoin ‘Santa rally’ buyers step in to drive BTC price to $98K

Senator Lummis’ Bitcoin reserve proposal faces uphill battle

November 6, 2024 Coin Telegraph

China

A US strategic Bitcoin reserve faces steep odds, with legislative hurdles and economic risks stalling approval.

United States Senator Cynthia Lummis, long known as the "Crypto Queen" of Capitol Hill, has thrown a financial curveball into the post-election buzz by announcing plans to establish a strategic Bitcoin (BTC) reserve.

Source: Senator Cynthia Lummis

This bold move, declared just hours after Donald Trump's re-election, could redefine the US fiscal strategy, but at the same time raises questions on its feasibility, impact on US debt, policy barriers and market volatility.

Bitcoin ‘Santa rally’ buyers step in to drive BTC price to $98K

Reserves Threatened: China Urged to Dedollarize Its $3.3 Trillion Forex Stash

November 5, 2024 Bitcoin.com

Reserves Threatened: China Urged to Dedollarize Its .3 Trillion Forex Stash

bitcoin.com

Economists are calling on China to curb the risks associated with holding over $3.3 trillion in its forex reserves. The concerns are directed at the possible measures the upcoming U.S. president might take against the country, including tariffs and unilateral sanctions. China Must Dedollarize Forex Reserves to Reduce Risks Economists have assessed China’s standing in […]

Bitcoin ‘Santa rally’ buyers step in to drive BTC price to $98K

3 reasons why Bitcoin price bottom could have been $67.3K

November 4, 2024 Coin Telegraph

3 reasons why Bitcoin price bottom could have been .3K

Bullish

Data suggests traders are ignoring the current Bitcoin price correction and betting for new highs after the US elections wrap up.

Bitcoin (BTC) fell 6.7% between Oct. 31 and Nov. 4, breaking below the $67,500 mark for the first time in eight days. This decline led to the liquidation of over $190 million in leveraged long positions and coincided with uncertainty surrounding the Nov. 5 US presidential elections.

Despite this short-term bearish momentum, three Bitcoin derivatives metrics show that the market is not panicking. These positive indicators include the long-to-short ratio of top traders on exchanges, aggregate BTC futures open interest, and stablecoin demand in China.

Exchanges top traders long-to-short ratio. Source: Coinglass

Bitcoin ‘Santa rally’ buyers step in to drive BTC price to $98K

China Considering $1,400,000,000,000 Fiscal Stimulus Injection To Boost Ailing Economy: Report

November 3, 2024 The Daily Hodl

China

China is reportedly considering a massive stimulus package as the country looks to breathe new life into its ailing economy. The second-largest economy in the world may approve a fiscal stimulus worth 10 trillion yuan or $1.4 trillion as soon as next week, reports Reuters. The country plans to raise fresh debt in the coming […]

The post China Considering $1,400,000,000,000 Fiscal Stimulus Injection To Boost Ailing Economy: Report appeared first on The Daily Hodl.

Bitcoin ‘Santa rally’ buyers step in to drive BTC price to $98K

Treasury Secretary Yellen To Unveil ‘Strong’ New Global Sanctions As BRICS Nations Russia and China Push To Forge Deeper Ties: Reports

October 26, 2024 The Daily Hodl

brics

BRICS founding members Russia and China are reportedly looking to build deeper economic relations. At the 16th BRICS summit, Russian President Vladimir Putin and Chinese leader Xi Jinping engaged in talks to bolster trade partnerships in an effort to create a “fair world order,” reports the South China Morning Post. According to Putin, the alliance […]

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Bitcoin ‘Santa rally’ buyers step in to drive BTC price to $98K

Putin Blasts US Sanctions, Reveals 95% of Russian Trade Now Dollar-Free

October 22, 2024 Bitcoin.com

bitcoin.com

Russian President Vladimir Putin criticized U.S. sanctions, noting that they are driving global economies away from the U.S. dollar and leading to a gradual decline in its use for international trade and reserves. He highlighted that Russia now conducts 95% of its foreign trade in national currencies due to these sanctions. Putin emphasized BRICS nations’ […]

Bitcoin ‘Santa rally’ buyers step in to drive BTC price to $98K

China has not cracked encryption, at least not yet — Mental Outlaw

October 19, 2024 Coin Telegraph

China

Quantum bits currently require temperatures between approximately -200 degrees Celsius to -270 degrees Celsius to operate properly.

Researchers at Shangai University recently made headlines for purportedly breaking the RSA encryption algorithms used in banking, military, and cryptocurrency applications. However, popular YouTuber Mental Outlaw says the recent breakthrough in China lacks the power to impact current encryption standards due to severe computation and physical limitations.

According to the research paper, the quantum computer used in the experiment factorized the integer 2,269,753. Mental Outlaw noted that this surpassed records set by other quantum computers but failed to surpass the record set by classical computers.

The YouTuber clarified that the quantum computer only broke a 22-bit key. For context, the record set by classical computers was cracking an 892-bit key, which required a whopping 2,700 physical core years to break.

China

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