Bitcoin (BTC) faced a 9% correction in the early hours of Sept. 19 as the price traded down to $18,270. Even though the price quickly bounced back above $19,000, this level was the lowest price seen in three months. However, pro traders held their ground and were not inclined to take the loss, as measured by derivatives contracts. Pinpointing the rationale behind the crash is extremely difficult, but some say United States President Joe Biden's interview on CBS "60 Minutes" raised concerns about global warfare. When responding to whether U.S. forces would defend Taiwan in the event of a China-led …

The Taiwanese Ministry of Digital Affairs (MODA) plans to implement decentralized technology into its web portal in an effort against cyberattacks. InterPlanetary File System (IPFS) is a Web3 technology that government officials will employ for decentralized file sharing. IPFS identifies content through file hashes, which allows files stored by multiple parties to be found anywhere and can be accessed by simple HTTP. This development comes after the controversial visit of United States House Speaker Nancy Pelosi to Taiwan, despite warnings from mainland China. Since the visit, government websites have faced multiple attacks sourced from the mainland. This includes a distributed …

As reported by local news outlet bnext.com on Wednesday, Chin-long Yang, governor of the Central Bank of the Republic of China (Taiwan), recommended a no-interest design for the country's central bank digital currency, or CBDC, pilot. In explaining the decision, Yang said that a CBDC where interest is paid on digital asset deposits would likely become a replacement for fiat New Taiwan dollar (NT$) deposits in banks. "Once the banks' available deposits decrease," Yang explained, "it would lead to a corresponding increase in the cost of financing and thereby increase the cost of borrowing for consumers." Yang further warned that …

Bitmain, a Chinese manufacturer of cryptocurrency mining equipment, has been forced to stop its business in China from Oct. 11 following the crypto ban imposed by local authorities. In addition to China’s blanket ban on crypto operations, the company has attributed the move to stop shipping Bitcoin (BTC) and cryptocurrency mining rigs as a response to China’s carbon-neutral policies. According to Bitmain’s announcement: “From October 11, 2021, Antminer will stop shipping to mainland China. For customers in mainland China who have purchased long-term products, our staff will contact them to provide alternative solutions.” While the company has yet to reveal …

Taiwan’s police administration has reportedly arrested 14 people for running a $5.41-million (150 million New Taiwan dollars) investment scam over the past year, involving more than 100 cryptocurrency investors. CIB investigator Kuo Yu-chih said that the scam was led by a local businessman named Chen, who ran the operation on social media platforms. Chen was also reportedly running Azure Crypto Co, a Taipei-based platform that offered various investment services, including cryptocurrency transactions. He explained: “Chen and his staff set up Web sites, and allegedly used photographs of pretty women to attract mainly male victims, many of whom were in retirement …

Blockchain fintech company XREX has concluded a $17 million pre-A investment round led by a consortium of global investors, underscoring heightened institutional demand for crypto-focused startups. The consortium was driven by CDIB Capital Group, a publicly traded company in Taiwan, and includes investors from major banks and venture capital firms in North America, Europe and Asia. Several other publicly listed companies also participated in the investment round, including SBI Investment, which is a subsidiary of SBI Holdings, ThreeD Capital, E.Sun Venture Capital and Systex Corporation. Black Marble, New Economy Ventures, Metaplanet Holdings, Seraph Group and the Taiwan government’s National Development …

Prosecutors in Taiwan have accused Bitmain Technologies of illegally poaching more than 100 Taiwanese engineers. According to a report by Nikkei Asia, a probe has already been launched in New Taipei and Hsinchu — Taiwan’s semiconductor manufacturing hub — to investigate the activities of the Chinese crypto mining chipmaker. The New Taipei Prosecutors Office says as part of the illegal poaching enterprise, the Bitcoin (BTC) mining chip maker allegedly set up shell companies that were used for the illicit recruitment, adding: “We discovered that Bitmain has been poaching Taiwanese research and development talent to speed up its efforts on artificial …

The world’s largest semiconductor manufacturer and third-largest chip manufacturer, Taiwan Semiconductor Manufacturing Co., or TSMC, has announced plans to build a $12 factory in Arizona. The move comes after TSMC suffered significant disruptions across its supply chain amid the coronavirus outbreak in China. With Bitmain relying on TSMC for its next-generation chips and wafers, disruptions to TSMC specifically have been cited among the reasons for delays in shipping for its new Antminer S19 ASICs. TSMC to open Arizona factory The factory’s construction is slated to commence next year, with TSMC hoping the facility will begin producing 5-nanometer transistors in 2024. …

Bitcoin has had a rough week, down around 9 percent and trading below $6,700. Ross Ulbricht, the founder of Silk Road, believes we’re in a bear market that could even take the price under $3,200. Ulbricht is serving two life sentences for money laundering, computer hacking, and conspiracy to traffic narcotics. Mike Novogratz disagrees. The famed investor and CEO of Galaxy Digital Holdings Ltd., is seeing greater adoption of Bitcoin, including among hedge funds and high-net worth individuals. He’s shorting stocks but believes “this is the time for Bitcoin.” It’s certainly time for debt. The US national debt has now …

Mobile phone manufacturer giant HTC will allow users to mine Monero (XMR) cryptocurrency through its blockchain phone, Exodus, according to an announcement made on April 10. The announcement said that thanks to the partnership with the ASIC chip design firm Midas Labs, the Taiwanese company would be able to mine Monero through an application called DeMiner, which will be available for download in Q2 2020. Saving costs in mining activity Due to growing concerns that cryptocurrency mining activity involves high energy consumption, and therefore high costs, HTC ensures that these levels can be reduced by transferring work to mobile devices. …

CoolBitX, creator of the cryptocurrency-storing CoolWallet, continues to be popular with investors. In a press release today, the Taiwan-based startup announced that it had secured additional funding for expansion. Led by Japan-based SBI Crypto Investment Co. Ltd., the Monex Group, BitSonic, and the National Development Fund of Taiwan, the group provided CoolBitX $16.75 million from the Series B funding round. To date, the company has raised $30.25 million: $500,000 from a seed funding round, $13 million from Series A, and the most recent round. With this new funding ready, CEO of CoolBitX Michael Ou spoke to Cointelegraph on the future …

Taiwan-based smartphone maker HTC will launch a limited edition of the Exodus 1 featuring services by major global crypto exchange Binance. The Binance Edition Exodus 1 supports the Binance public blockchain, Binance Chain, as well as its decentralized counterpart Binance DEX, the firms announced Nov. 12. Exodus 1’s native crypto wallet is integrated with Binance DEX HTC and Binance announced the news at a Binance Super Meetup in Singapore attended by Binance CEO Changpeng Zhao and CFO Wei Zhou, according to a press release shared with Cointelegraph. The Binance Edition Exodus 1 smartphone is purportedly the world’s first blockchain phone …