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.
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.
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
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.
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.
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.
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.
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.
Crypto market is shaken as China declares all crypto transactions illegal
Bitcoin and Ethereum prices fall after Beijing intensifies crackdown on crypto trading, mining.
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.
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.
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.