{"id":3906,"date":"2021-09-24T17:11:35","date_gmt":"2021-09-24T11:41:35","guid":{"rendered":"https:\/\/mudrex.com\/blog\/?p=3906"},"modified":"2022-11-07T17:54:13","modified_gmt":"2022-11-07T12:24:13","slug":"china-bans-cryptocurrencies-again-flippening","status":"publish","type":"post","link":"https:\/\/mudrex.com\/blog\/china-bans-cryptocurrencies-again-flippening\/","title":{"rendered":"China Bans Cryptocurrencies For One Final Time \u2014 Again? \ud83d\ude31"},"content":{"rendered":"\n

This week in The Flippening, TL;DR<\/strong><\/h4>\n\n\n\n

China’s Central Bank Says All Crypto-Related Transactions Are Illegal. Evergrande\u2019s potential failure on debt payments worth billions of dollars. Twitter will now allow users to tip their favourite creators on the social network using bitcoin. Snoop Dogg is \u2018CozomoMedici\u2019, owns over $17 million in NFT. Coin of the week, top Mudrex algos, TIL, memes, and more. <\/p>\n\n\n\n

\n\n\n\n

\"\ud83d\udd0a\" Top Highlights of the Week (ending 24th Sep)<\/strong><\/h4>\n\n\n\n

China’s Central Bank Says All Crypto-Related Transactions Are Illegal\ud83d\ude28\ud83d\ude28<\/strong><\/strong><\/p>\n\n\n\n

The People’s Bank of China has imposed a ban on all cryptocurrency-related transactions. It released an official note just a few hours ago, on 24th September. All business activities related to digital currencies are now deemed illegal in China. Markets almost instantly started shivering. However, there is no ban on ownership of cryptocurrencies in China. Read more here<\/a>.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Twitter to Add Bitcoin Lightning Tips, NFT Authentication\ud83e\udd29\ud83e\udd29<\/strong><\/p>\n\n\n\n

Twitter announced on Thursday that its Tips feature will now roll out globally to all Apple iOS users this week and will become available for Android users in the coming weeks. Following the news, Twitter\u2019s stock price saw significant growth.<\/p>\n\n\n

\n
\"\"<\/a><\/figure><\/div>\n\n\n

Decoding Evergrande\u2019s grand failure <\/strong>\ud83d\udca5<\/strong><\/p>\n\n\n\n

Evergrande, a property behemoth based out of China, defaulted on its loan repayment. It has liabilities to the tune of over $300 Billion. Several analysts are already comparing it to the 2008 default of Lehman Brothers. With another ‘too big to fail’ company on the brink of a collapse, all global financial markets took a hit.<\/p>\n\n\n\n

With the company planning to sell its shares to repay the debt, and the Chinese government springing into action, things could be catastrophic.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Snoop Dogg is \u2018CozomoMedici\u2019, owns over $17 million in NFT<\/strong><\/p>\n\n\n\n

Snoop Dogg, from his official Twitter account on September 21, posted \u201cI am @CozomoMedici\u201d disclosing to his 19.2 million followers that he is behind the pseudonymous crypto Twitter personality and also the one who holds a blue-chip collection of NFTs worth millions of dollars.<\/p>\n\n\n

\n
\"\"<\/a><\/figure><\/div>\n\n\n
\n\n\n\n

\ud83d\udcf0 Other news and top reads:<\/strong><\/h4>\n\n\n\n