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The Digital Yuan, also know as Digital Renminbi or e-CNY, the development will be “jointly promote” by the partners and will be based on Alibaba’s affiliate. The Global Times revealed that banking institutions have worked with Ant and the multinational Chinese conglomerate Tencent for over 3 years. Together they have co-develop the Digital Yuan. Ant and Tencent have gone through a lot of scrutinies by China’s government. However, this has not prevented them to work on the project. VOA claims that the People’s Bank of China requires assistance to build the CBDC’s infrastructure and...

Apr 22, 2021 04:41 GMTCrypto News A major power outage in China’s Xinjiang province led to the drop in Bitcoin’s hash rate last week. The massive decline in Bitcoin’s hash rate has benefitted miners but cost users a new high in transaction fees when using the network. Bitcoin’s mining difficulty is expected to be adjusted in early May, leading to adjusted fees.  Bitcoin transaction fees have reached an all-time high amid a massive hash rate decline on the network. Bitcoin hash rate’s effect on transactions The latest surge in Bitcoin transaction fees come in at a time when the Bitc...

18 April 2021, 10:47 am EDT By   ( Dan Kitwood/Getty Images ) Bitcoin price dives down in more than seven weeks, mere days after reaching a record high, marking the biggest single-day drop since February 2021. The news prompted experts to speculate that the drop is the beginning of the anticipated burst, after believing that Bitcoin's bubble has reached a critical point. Bitcoin Price and Speculations On Apr. 17, 7 a.m. ET, Bitcoin's price fell 10.8% from $61,396 t...