Articles by

Timmy Shen

Timmy Shen is a Taipei-based journalist at Forkast. Previously, he wrote for Caixin Global and TechNode, covering topics ranging from fintech to fan economy. He also cares about LGBT+ issues and is a shabu shabu fanatic. Timmy holds an MS degree from Columbia Journalism School.

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November 2021

Crypto mining rig maker Canaan sues two Chinese tech companies over patent infringement

Canaan is seeking $14 million in alleged losses from Shenzhen HighSharp Electronic Technology and Sichuan Yinbimei Technology.

K-pop sensation BTS gets ready to sell NFTs, as label looks to cash in on loyal A.R.M.Y fanbase

BTS’ label dreams bigger than just dominating the K-pop world — they want to digitize the IP even more.

Chinese police raid what may be the nation’s first e-CNY money-laundering case

Police crack a tele-fraud case related to digital yuan money laundering, potentially thanks to the CBDC’s ‘managed anonymity’ feature.

China’s central bank governor calls for personal data protection at Hong Kong FinTech Week

Yi Gang reiterates the PBOC’s stance to protect data, while failing to address privacy concerns over digital yuan.

BXH says its exploit, now estimated at $139M, came from admin key leakage

The hacked DeFi platform called China’s cyber police first thing as most users appear to be in China.

Another DeFi platform, BXH, suffers $130M exploit

This follows an attack on Cream Finance that also resulted in a $130M hack.

Ant Group, JD.com, Tencent pledge to resist speculation of ‘digital collectibles’

Ant Group and Tencent recently rebranded NFT projects as digital collectibles amid China state media criticism.

FastForkast headlines

Microsoft, Nike embrace metaverse following Facebook’s name change

Metaverse could impact national security, Chinese state-owned think tank says

Bitcoin mining difficulty recovers to May level

China’s prefecture-level city Ganzhou cracks down on crypto activities

November 2021

DeFi platform Cream Finance suffers $130M exploit

This appears to be the third hack for the protocol this year — yet the biggest one so far.

Kazakhstan proposes to limit power consumption for new crypto miners as power deficit bites

Local miners told Forkast.News that existing legal miners won’t be much affected, though they’re still subject to power rationing.

Alipay and Tencent now call NFTs ‘digital collectibles’ amid state media criticism

Tech giants banish non-fungible token references as Beijing looks down new virtual asset market.

China’s crypto presence shrinks, while the U.S. rides the tide

More industry players are exiting the Chinese mainland market amid tougher crackdown.

China’s crypto investors get creative to bypass domestic trading ban

Some are registering companies overseas, via — you guessed it — Taobao vendors.

China fuels blockchain development despite stricter crypto ban

Authorities encourage new ways to apply blockchain across various industries, although there’s no room for crypto
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China’s Zhejiang province busts covert crypto mining operations — some within public entities

Hidden mining tracked by IP addresses to state agencies, enterprises, institutions, schools

U.S. leads in Bitcoin mining as China’s share drops to zero: Cambridge data

U.S., Kazakhstan, Russia take up largest Bitcoin hashrate shares as the exodus of Chinese miners continues.

China to ‘outdate’ crypto mining industry with more restrictions

The country’s top economic planner hopes to prohibit investment in what it considers an energy-intensive sector.
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NFTs and the music industry: Flatten the learning curve | Part 3

Singers and musicians are embracing non-fungible tokens, but will their non-crypto active fans buy it?

Kazakhstan, hotbed for crypto mining, mulls restrictions amid power shortages

Xive co-founder says its one mining farm in the south of the Central Asian nation has been forced to disconnect from the grid.

Why domestic and overseas Chinese should worry about China’s crypto ban

In a special Q&A, a Canadian law advisor who works with Chinese clients breaks down the ban’s potential legal boundaries and concerns held by overseas Chinese.

FastForkast headlines

China’s prefecture-level city Ganzhou cracks down on crypto activities

China’s national standard for blockchain could be released next year: report

Wharton business school to accept crypto for new blockchain education program

Spark Pool allows balance withdrawal as it phases out all domestic, international users

China sees most blockchain-related patent applications, followed by U.S., South Korea: report

China’s BSN launches service portal in Hong Kong, Macau with digiXnode

U.S. crypto miner Greenidge more than doubles Bitmain rig order to fuel growth

Tencent to establish gaming studio believed to be related to metaverse: report

Kazakhstan power shortages continue as crypto miners scramble for solutions

Canadian crypto miner Hut 8 Mining to buy 12K new MicroBT rigs

Chinese e-commerce giant JD.com offers NFTs despite state media criticisms

Bitcoin becomes harder to mine with latest adjustment

N.Y. Attorney General to shut down two ‘unregistered’ crypto lending platforms

Tether fined $41M for misleading claims it was fully backed by fiat

Chinese President Xi Jinping underscores blockchain importance in transport

Crypto mining pool AntPool to stop IP access from mainland China

Taiwanese fintech startup XREX collaborates with TRM Labs to ramp up security

Crypto platforms Cobo, Gate.io leave mainland following China crypto ban

China’s state-backed blockchain network, U.S. firm team up to enhance CBDC efficiency

TikTok’s first NFT collection auction goes live featuring rapper Curtis Roach

Bitmain to supply 10K Antminer rigs to Bit Digital for U.S. expansion

Binance to shut down yuan trading on C2C platform after China’s crypto ban

China’s national blockchain network to expand to Turkey, Uzbekistan

China’s Jiangsu province works to wipe out covert crypto mining

Bitcoin mining difficulty rose to the hardest since June

October 2021

Who in the world should worry about China’s new crypto ban?

As Chinese authorities take aim at crypto violations outside mainland borders, Forkast.News asks lawyers in the know: Who is in China’s line of fire?

Ant Group and Tencent obtain the most blockchain patents in China: report

China saw a fivefold increase in blockchain patents last year despite the Covid-19 shutdown.
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Crypto mining players continue to flee China as latest ban kicks in

China’s earlier efforts to eradicate mining may not have been as effective as the government had hoped, but Friday’s announcement is having an impact.
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Industry players scramble, evaluate options as China bans all crypto transactions

China’s intensified crackdown on cryptocurrency leaves service providers looking to stay compliant with Friday’s abrupt announcement.
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Crypto market is shaken as China declares all crypto transactions illegal

Bitcoin and Ethereum prices fall after Beijing intensifies crackdown on crypto trading, mining.
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Digital yuan could come to overseas users to challenge dollar dominance: policy bank expert

China may be a small step closer to internationalizing the yuan, though its central bank says the e-CNY is now mostly tested for domestic use.
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Bitcoin miners expected to face tougher digging but demand continues growing

As total hashrate recovers, adjustment would follow four increases after as many declines since China intensified crypto mining clampdown.

Conflux, Shanghai Maritime partner on offshore RMB stablecoin in free trade zone

A focus of China’s free trade and shipping, Shanghai will explore in pilot project cross border trading with offshore renminbi stablecoin.

In crypto market, altcoins get a chance to shine

AVAX and SHIB outperform Bitcoin, which gained in price but shied from the $50K mark.

China’s e-CNY rollout enters ‘sprint stage’ for Beijing Winter Olympics

Digital yuan expected to undergo its first crucial international test despite concerns it can be used as a surveillance tool.
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Logging each step in tea production on a blockchain — from farm to cup

With the ease of counterfeiting products like premium tea, keeping a tamper-proof digital paper trail can record each step along the way.

Canaan sees strongest ever quarterly sales results

Leading Chinese crypto mining hardware manufacturer attributes robust revenue to ‘substantial increase in total computing power sold.’

China’s blockchain infrastructure project goes live in Hong Kong, Macau

Blockchain-based Service Network (BSN) soft launch is the first attempt to roll out the state-backed ‘internet for blockchain’ outside of the Chinese mainland.

FastForkast headlines

Bitcoin mining difficulty rose to the hardest since June

Retail malls, move over. Crypto mining is in for Malaysia’s Hatten Land

BeePool, Tiger Brokers among the latest to respond to China’s crypto ban

China’s BSN to set up foundation in Singapore to fuel international expansion

The9 teams up with Polygon and Protocol Labs on new NFT platform, game projects

BIT Mining invests in crypto site in Ohio to expand U.S. operation

Chinese rig maker Canaan to buy back shares up to $20M to bring up valuation

Kyrgyzstan cracks down on illegal crypto mining

China’s Inner Mongolia seeks out stealth crypto mining operations

Hong Kong-based crypto lender Babel Finance expands to Singapore

2022 Asian Games in Hangzhou to sell torch NFTs supported by Alipay