CHINA WANTS TO BAN CRYPTO AND YET: “China's Crypto Funds Try Lending to Beat Bear Market; $60 Million and Rising“
These new crypto lenders include such notable names as Bixin Capital, FBG Capital and DGroup, founded by Dong Zhao, who made a name by operating one of the longest-running over-the-counter (OTC) trading desks in China. Along with a startup called Babelbank, these investors have originated a combined $60 million worth of loans over the last five months, denominated in cryptocurrencies or, in one firm’s case, Chinese yuan.
The demand, they say, comes mostly domestically, from retail investors, hedge fund traders, and perhaps most unexpectedly, cryptocurrency miners.
“The demand for personal crypto loans doesn’t fluctuate that much regardless of market conditions,” said Xi Wang, head of financial markets at Bixin Capital. “So, in a bearish market, making profits from lending assets is relatively a much [more] stable bet.” Please Keep Reading Here
I Don’t Get You China 🇨🇳 🙄
I am rayhan from Bangladesh, i am friend of @nevlu123
He said you are the good one in the steemit platform and also said that following you and your blog as your way.
Thank you and thank @nevlu123 🤟😊👍
In my opinion, that's not a good choice from China. They should reconsider that. Btw great post. Keep it up like that;)
Thanks buddy, thank you very much.
Question is how big the share of demand comes from miners, might be even negligible given an increasing transaction volume...
70% of the hash for Bitcoin comes from China, the truth is that if China gets to ban Bitcoin mining, the price of BTC will sky rock until the 70% of hash power gets reinstated around the world. BRING IT ON CHINA!!
Congratulations @melip! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
Holy moly let the fud come and time to buy again lol
Gran post,gracias por la informacion,siempre pendiente de las noticias de interes