Xi Jinping sent Chinese investors into blockchain frenzy
Chinese stocks associated with blockchain jumped after President Xi Jinping extolled the technology popularized by Bitcoin. Dozens of Chinese financial and technology firms making use of the digital database rose to their daily 10% limit on Monday. It was the first day of trading in China after Chinese state media reported on Friday evening Xi’s speech urging the development of blockchain technology. Xi’s remarks represented a stamp of approval from the highest level of China’s government of blockchain, potentially accelerating and widening the application of the technology in industries including banking and supply chain management. A blockchain is akin to a digital ledger, allowing users t
A crypto bro makes it rain in Hong Kong
Michael Bay wouldn’t be able to dream up a scene this cheesy. Saturday afternoon in Sham Shui Po, one of Hong Kong’s poorest districts. A man roars up in a Lamborghini supercar, parks it at an intersection, and gets out to record a piece to a camera: “I don’t know whether any of you will believe money can fall from the sky.” Then the camera pans right, and up – and hundreds of HK$100 ($13) banknotes are flung from a rooftop, fluttering to the ground. A frenzied crowd waits beneath, their arms outstretched to grab the cash. We are better than this. Someone threw Cash off rooftops pretending to be Robinhood. Turns he's just a crypto scammer / shitcoin shiller https://t.co/861QKIyDiE pic.twitte