China Crypto News （Aug 23 to Aug 30）: PUNK is HOT
1
Chinese Internet investors have bought CryptoPunk one after another. Meitu founder Cai Wensheng bought CryptoPunk #8236 with 125ETH. Feng Bo bought CryptoPunk#7252 for 1600ETH (approximately US$5.33 million).
Meitu, founded by Cai Wensheng, is the first public company in Greater China to purchase cryptocurrencies in large quantities. At current prices, Cai Wensheng’s purchase of Eth has made a lot of profits, while Bitcoin has made a slight loss.
2
The most famous game ‘legend’ 4 with 600 million registered users in China has released the native Token DRACO. The official also plans to launch the NFT market next month. More and more traditional game companies are entering the cryptocurrency field. This is a game developed by a South Korean company, but the main user is in China. The game has a history of more than 20 years, and it is one of the games with the most users in Chinese history.
3
The Supreme People's Court of China: virtual currency mining is an energy-intensive industry that China does not encourage. Previously, the Chinese government requested that Bitcoin mining and trading be cracked down. This was raised in a judgment between Genesis Mining and a data center in China. Genesis Mining was seized with more than 500,000 GPU graphics cards.
4
China's central bank once again expressed its attitude towards crypto today: 1. Virtual currencies such as Bitcoin are not legal tender and have no actual value support. 2. Transactions are pure hype, and the public should increase their risk awareness and stay away. 3. By blocking exchanges and strengthening policy publicity, China's popularity has dropped significantly 4. Crack down on illegal fund-raising activities with virtual currency and blockchain. 5. In the next step, the central bank will establish a normalized working mechanism, maintain a high-pressure situation, and continue to crack down on virtual currency-related transaction operations
http://finance.people.com.cn/n1/2021/0827/c1004-32210468.html
5
Bitmain stated that TSMC announced on August 25 that all semiconductor processes have increased their prices by 20%. And the Antminer in the first half of 2022 has been sold out.
6
Immotors, an electric vehicle company invested by Alibaba, announced that its APP has launched a mining function. Users can obtain "stones" by providing driving data. A batch of stones will be dropped every 10 minutes, halving every four years.
https://www.wu-talk.com/html/kuaixun/2021_1876.html
7
9F, a P2P company hit by the government in China, announced that it has transformed into a blockchain-based securities brokerage firm to strengthen research in the fields of NFTs, METAVERSE and other blockchain technology.
https://ir.9fgroup.com/News-Releases?item=29
8
China's SEC stated that it will establish a central supervision and management chain（Alliance chain）, apply smart contracts, and use blockchain to establish a trust mechanism to serve the digitalization of the securities and futures industry.
https://www.sac.net.cn/ljxh/xhgzdt/202108/t20210830_147387.html
9
HK SFC today launched a new initiative to warn the public about arrangements which are suspected to be collective investment schemes such as digital tokens and ICO.
https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=21PR89
10
On August 30, the ninth city of the former Chinese agent of WOW announced that it will launch the NFT trading and community platform NFTSTAR in the Q4. Former Dapper Labs vice president of operations Gagan Palrecha has been invited to join NFTSTAR as the COO.
China Crypto News （Aug 16 to Aug 23）
China Crypto News （Aug 9 to Aug 16）Hacking and Counterattack
China Crypto News （Aug 3 to Aug 9）Stop or Hit
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