Tag Archives: China

Bitmain Co-CEOs to Keep Decision Making Power in Executive Swap, Report

Chinese Bitcoin mining giant Bitmain’s co-founders Jihan Wu and Micree Zhan Ketuan will quit their posts as co-CEOs but still steer the company’s important decisions. Hong Kong-based English-language news outlet South China Morning Post reported the news Jan. 10. Referencing anonymous “people familiar with the matter,” the publication said Bitmain’s director of product engineering Wang Haichao would likely… Read More »

Bitmain Secretly Replacing Company’s Product Engineer As its New CEO

When it comes to bitcoin mining pool, Bitmain’s name often appears on top. Very recently, Beijing based Bitmain which is the world’s biggest crypto mining firm has confirmed the layoff plans as a part ‘to live up the company’s mission’. Co-Founders To Step Aside Per the South China Morning Post, Bitmain Technologies is naming a product engineering director… Read More »

US Close to Trade Deal With China, Possible Impact on Stock Market

According to several reports, the U.S. and China are making progress on establishing a trade deal between the two major economies and analysts suggest that a potential trade agreement could have an immense impact on the stock market. Following up on China’s suspension of tariffs on U.S. car exports, the U.S. government has increased the accessibility to China’s… Read More »

Hope After US-China Talks: Stock Markets in Asia and Europe Trade Higher

Trade talks between the U.S and China concluded earlier today boosting Asian markets and the start of trading in Europe. It could be another good day of trading for the Dow Jones and the wider markets in the U.S too. In Asia, the markets jumped in response to positive comments from officials. Shanghai Composite (Red) and the Nikkei… Read More »

ETH Dev Suggests Moving to ‘ASIC-Friendly Algorithm’ After ProgPoW Decision

An Ethereum (ETH) code contributor has suggested that Ethereum developers ‘embrace’ specialized mining hardware (ASICs) in a reply on Ethereum developer forum Ethereum Magicians, Jan. 7. As Cointelegraph reported last week, Ethereum core developers have tentatively decided to implement a new proof-of-work (PoW) algorithm, dubbed ProgPoW, which would decrease the efficiency divide between ASICs and GPUs, while rendering… Read More »

Dow Jumps 300 Points as Trump Pokes at Fed, Says China Talks ‘Going Well’

US President Donald Trump has tweeted a brief, positive, update on the trade talks with China but was still poking at the Federal Reserve this morning. This despite the interest rate hike pressure appearing to be off for the stock markets. Dow, Markets Point North on Tuesday The stock markets appear to be recovering from recent hits. But,… Read More »

Canaan May Begin New York IPO by End of Q2 2019, Anonymous Sources Tell Bloomberg

Chinese Bitcoin mining hardware manufacturer Canaan Creative is considering a new initial public offering (IPO) in New York, Bloomberg reported on Jan. 8, quoting anonymous sources. Canaan, China’s second-largest hardware player, could begin selling its shares in a private placement in the first half of this year, according to the people familiar with the matter who declined to… Read More »

China’s Weak Economy Gives US Upper Hand in Trade War: Trump Admin

China’s well-known fears of social instability as a result of worsening economic conditions could be used to the advantage of the United States in the trade negotiations, U.S. Commerce Secretary Wilbur Ross has indicated. This comes as trade talks between the world’s two biggest economies entered a new stage on Monday in Beijing. Speaking to CNBC, Ross indicated… Read More »

Chinese Analysts Say Bitcoin Bear Market Likely to Continue In 2019

Chinese analysts expect the current bitcoin bear market to continue in 2019, contradicting the bullish projections of crypto bulls like Mike Novogratz, who predicts that the bitcoin price will hit record highs this year. “In 2018, bitcoin became an investment black hole,” according to the state-run Beijing News. “Entering 2019, bitcoin prices are still showing signs of decline, and there… Read More »