Chinese Official Sentenced To Life In Prison For Bitcoin Mining, Corruption | ZeroHedge

Authored by Zhiyuan Sun via CoinTelegraph.com,

A Chinese government official has been sentenced to life in prison for both illegitimate business operations of running a 2.4 billion Chinese Yuan ($329 million) Bitcoin mining enterprise and unrelated charges of corruption. 

According to local media reports, on Aug. 22, the Intermediate People's Court of Hangzhou City sentenced Xiao Yi, a former member of the Jiangxi Provincial Political Consultative Conference Party (more…)

Continue ReadingChinese Official Sentenced To Life In Prison For Bitcoin Mining, Corruption | ZeroHedge

Bitcoin Mining Complexity Hits Record High Despite Price Plunge | ZeroHedge

Following the BlackRock filing for a Bitcoin spot ETF that helped propel the market at the end of June, Bitcoin reached a YTD high just about $31,800 in mid-July.

The August correction in crypto markets, which reversed the post SEC vs. Ripple court decision rally, can be partly attributed to the broader correction in risk assets such as equities and in particular tech, which in turn appear to have been induced by frothy positioning in tech, higher US real yields and growth (more…)

Continue ReadingBitcoin Mining Complexity Hits Record High Despite Price Plunge | ZeroHedge