Crypto Crackdown

Per a report from crypto news outlet Wu Blockchain, some Huobi executives have exited their roles following Justin Sun’s acquisition of the exchange. These appear to be the former chief executive officer and chief financial officer at the company.  Sun May Discharge Several Employees The Twitter report stated that Sun has plans for large-scale dismissal. Huobi currently hosts 1600 staff members which Sun reportedly believes is too much. Sources close to the matter claim the TRON founder’s team now occupies…

They may be in a ‘Trade War,’ but the US seems to share the same perception of cryptocurrencies with China. Several bodies under the Biden administration plan on implementing guidelines that could have a direct impact on cryptocurrencies. The Securities and Exchange Commission, the Treasury Department, and the Federal Reserve have proposed policies that could potentially drive out crypto operations in the US. The situation is almost similar to the occurrences that took place during China’s recent crypto crackdown. Federal…

For the past two weeks, top headlines from the crypto space have been on the Chinese crackdown on cryptocurrencies and Bitcoin mining. The country has embraced the technology underpinning bitcoin and has ambitions to implement its digital yuan managed by its central bank. China is now attempting to push its cryptocurrency activities forward.  On the other hand, Beijing is trying to ban crypto mining since they require vast amounts of electricity, often from coal-fired power stations, while the country has…