“The news comes nearly a year after Bitmain raised $50 million in a Series A funding round, led by Sequoia Capital China and IDG Capital, as previously reported by CoinDesk.”
Read more: https://www.coindesk.com/report-mining-giant-bitmain-valued-at-12-billion-in-new-funding-round/
“Over time, attaining financial wealth became an absolute prerequisite for wielding geopolitical power and influence. The old military variety appears almost feeble standing next to the contemporary Financial Arms Race.”
Read more: http://creditbubblebulletin.blogspot.com/2018/07/weekly-commentary-intimidate-nobody.html
“In China the fingerpointing over who is responsible for China’s economic mess has begun.”
“The currency war has arrived. So say some of the best and brightest in the $5.1 trillion-per-day foreign-exchange market.”
“In private conversations, investors, entrepreneurs and economists admit that with the high debt level and a trade war with the United States, the room for government maneuvering is shrinking. The degrees of pessimism vary, but many of them are bracing for a tough ride ahead. They told me to change all my savings into gold, a risk-management measure for extreme times. They worry that the trade war will hurt the tech and the venture capital industries because they operate globally.”
Read more: https://www.cnbc.com/2018/07/17/latest-sign-of-chinas-slowdown-a-technology-cash-crunch.html
“About $1 trillion worth of stocks listed in China’s two main markets, Shanghai or Shenzhen, are being pledged as collateral for loans. This trend has exploded in the past three years.”
“Beijing once again changed the game with their aggressive deleveraging campaign, which sent shadow credit creation crashing to record lows just last month.”
“The development marks the first time since the former British colony’s return to Chinese rule in 1997 that it has sought to outlaw a political organisation.”
“Chinese tech isn’t an imitation of its American counterpart. It’s a completely different universe.”
Read more: https://logicmag.io/04-letter-from-shenzhen/
“There’s a category of story we call ‘Them Not Us’—US media reporting on problems abroad, and seemingly not noticing that they have the same problems at home.”