South Korea switches course on crypto amid backlash over regulator’s remarks
Newly elected South Korean Prime Minister Kim Boo-kyum appears to be leading an embrace of the cryptocurrency sector among lawmakers.
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Illegal crypto mining in Inner Mongolia’s crosshairs as reporting hotline set up
The Chinese region of Inner Mongolia is urging members of the public to report all cases of cryptocurrency mining, setting up a reporting hotline, an office address and an email address to solicit tips for law enforcement authorities.
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Rejecting traditional finance, some firms now turn to DeFi for growth capital
DeFi project Maple Finance is launching a $17 million lending pool to provide crypto startups with capital. Is this the start of a DeFi credit underwriting trend?
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Bitcoin long positions worth $1.5 billion liquidated amid crypto crash
Around US$1.5 billion of Bitcoin long positions were liquidated today across some of the world’s top crypto exchanges, including Binance and FTX, according to Bybt data.
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Australia seeks fresh submissions on cryptocurrency rules
In a paper released today by a Senate committee, the Australian government announced it is seeking help in establishing a crypto regulatory framework.
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XRP whale moves coins worth US$93M to unknown wallet, price dips
XRP’s price has slumped almost 7% in the past 24 hours after a so-called whale transferred US$93 million of the cryptocurrency to an unknown wallet on May 18, according to blockchain analytics platform WhaleAlert.
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China-based SOS announces activation of 6,039 mining rigs for ETH, BTC
Qingdao-headquartered tech company SOS Ltd. has announced the launch of more than 6,000 ETH and BCT mining rigs, claiming 90% renewable energy sources.
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China’s new crypto ban shouldn’t stoke fear, says Conflux network co-founder
Fan Long, a co-founder of Chinese public blockchain network Conflux, says China’s latest broadside against the use of cryptocurrencies in the financial sector should not be interpreted as a sign that Beijing is intent on shutting down digital currencies.
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Riot Blockchain’s Bitcoin mining revenue soars 881% to US$23.2M
American Bitcoin miner Riot Blockchain’s mining revenue skyrocketed almost tenfold to US$23.2 million in the first quarter of 2021, according to a U.S. Securities and Exchange Commission filing.
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China shuts banks, finance firms out of cryptocurrency business
China has slapped a ban on finance sector businesses, including payment firms, from offering cryptocurrency services.