Escalating Bank Runs Spur Chinese Government to Require Approval for Large Cash Transactions

A series of bank runs has prompted the Chinese government to begin requiring approval for large cash deposits and withdrawals at commercial banks, starting with banks in a northern province. Recently, two bank runs happened within a week as people lost faith in financial institutions amid unprecedented economic contraction.China’s Efforts to Prevent Bank RunsChina has launched a measure aimed at curbing...

Bitcoin Entrepreneur Brock Pierce Joins the 2020 US Presidential Election

Blockchain entrepreneur and former Disney child actor, Brock Pierce, is running for President of the United States this election. Pierce announced he was running during America’s Independence Day celebration on July 4, the same day Kanye West revealed his candidacy. Pierce is an advocate of technology and cryptocurrencies and he wholeheartedly believes “entrepreneurs are essential to the rebuilding of this nation.”On...

Bitcoin Volatility Hits Three-Year Low, Sparking Fears of Massive Sell-Off

The cryptocurrency data analytics and research company, Skew has warned that bitcoin could see a massive sell-off due to declining volatility.The data analytics firm says that bitcoin (BTC) realized volatility hit 20% over the past 10 days – it’s the lowest 10-day reading in nearly three years.“Last time we reached that level, we had the great sell-off of November 2018 shortly...

South African Investors to Lose $13 Million as Bitcoin Scammer Declared Bankrupt

A South African high court has declared an alleged bitcoin scam mastermind, Willie Breedt, bankrupt. The court decision follows an application by one disgruntled investor, Simon Dix, a News24 report states.Willie Breedt is the CEO of the defunct Vaultage Solutions (VS), the company at the center of the alleged cryptocurrency scam. According to South African media reports, an estimated 2,000 investors...