Blockchain 

Binance Makes Investment in Chinese Crypto Media Firm Mars Finance

Binance, the world’s largest crypto exchange, has made an undisclosed investment in Chinese crypto news outlet Mars Finance. Binance participated in a funding round for the blockchain media firm, which brought its valuation to $200 million USD in what was the third such financing since Mars Finance was founded last year. Specifically, Mars Finance provides information and news updates on blockchain, crypto markets, and asset management services. According to a press release issued by the company, it is now China’s most popular crypto news outlet in terms of traffic. Mars…

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Blockchain 

Chinese Cryptocurrency is Not Coming Anytime Soon, Says Reports

Ever since Bitcoin and other cryptocurrencies became far more mainstream following the remarkable rally in 2017, there has been a lot of talk about large institutions getting into this space. For instance, banking giant JP Morgan came up with its own digital coin last year. However, in 2019, a bigger piece of news came to the fore. It emerged that the Chinese central bank, the People’s Bank of China, was going to launch its own digital asset. It goes without saying that this is a major development in the history…

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Cryptocurrency 

Alibaba and Tencent all Set to Get First Chinese Government Cryptocurrency

Ever since cryptocurrencies first captured the global consciousness a few years ago, several institutions from around the world have expressed their willingness to issue crypto tokens of their own and the most recent one is the Chinese central bank. A few weeks ago, it emerged that People’s Bank of China was all set to issue its own cryptocurrency and now it has emerged that the cryptocurrency is going to be disbursed to seven entities in the country. The update was revealed by the former global head of financial strategy at…

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Blockchain 

Tether to Launch Stablecoin Pegged to Chinese Yuan

Controversial crypto platform Tether is planning on launching a Chinese Yuan-pegged stablecoin, according to reports in China today. Tether’s Fourth Stablecoin The stablecoin, which will be known as CNHT, will be the fourth stablecoin in Tether’s portfolio after ones backed to the US dollar (USDT), Euro (EURT) and the Japanese Yen (JPYT). The company’s plans were revealed by Zhao Dong, a shareholder in Bitfinex, which shares the same senior personnel as Tether, via Chinese social media platform WeChat. Dong also said that his peer-to-peer crypto lending company, RenrenBit, will support…

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Blockchain 

Chinese Investors Jump on Bitcoin’s Bull Trend but at a Higher Price

Cryptocurrency investment is on the rise right now, especially due to the recent Bitcoin uptick. BTC’s recent climb attracted Chinese investors, but they’re paying a premium price because they have to pay extra to purchase over the counter. China previously banned cryptocurrency exchanges from operating within its borders and also banned crypto trading. However, Chinese crypto investors have been using OTC platforms to access the cryptocurrency markets. The downside is that they have to purchase Bitcoin and other cryptocurrencies at a higher price than the officially listed market value. Some…

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Ethereum 

Ethereum [ETH] Ranked World’s Top Blockchain Network by Chinese Govt

Ethereum [ETH] – Just this morning, China’s Ministry of Industry and Information Technology released blockchain ratings. These ratings were based on three criteria technology, innovation, and application. 1/ Public blockchain ratings by China’s ministry is out: #Ethereum ranks top of the 28 cryptos evaluatedSource (in Chinese): https://t.co/9jStIiFKcc — cnLedger (@cnLedger) May 17, 2018 As shown by the chart below, 28 different cryptocurrencies were included in the crypto rankings. 4/ Detailed scores of the first crypto ratings by CCID Research, China’s Ministry of Industry & Information Technology pic.twitter.com/7LiJIWokge — cnLedger (@cnLedger)…

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