Cointelegraph Announces Chinese HQ, Bolstering Its International Expansion

To support our international expansion and global reach, Cointelegraph is delighted to announce the launch of the Chinese-language version of the publication. Today, Dec. 4, we celebrated the opening of the office of Cointelegraph China (Cointelegraph 中文).

The news — which marks another milestone moment in Cointelegraph’s growth — was announced at the Nova Global Blockchain Investment Institutions Summit hosted by the investment ecosystem alliance, Nova Club. Nova Club was formed by top blockchain organizations and aims to facilitate blockchain project development by consolidating resources and expertise.

The new expansion will be led by Vadim Krekotin from the heart of Guangzhou, with other offices in Beijing and Shanghai.

Meet the Cointelegraph China business team

Cointelegraph China has brought together leading names in the industry to highlight blockchain and crypto trends in the area. 

Kevin Shao is a co-founder of Cointelegraph China as well as a general manager at crypto mining equipment manufacturer Canaan-Blockchain. Shao’s professional background includes serving at Bank of China’s fintech and technology department.

Kevin Ren, a co-founder of Cointelegraph China and also a founding partner of venture capital firm Consensus Lab, has a double masters in computer science and business administration. Ren, who worked as a partner in a range of VC firms, currently holds managing positions at industry-wide associations and unions in the country.

Simon Li is another co-founder of Cointelegraph China and a founding partner of Chain Capital and Nova Club. Li focuses on mining, investment into blockchain projects, and initiating and managing blockchain investment funds.

Co-founder Vadim Krekotin will manage Cointelegraph China’s initial launch. He previously founded advisory blockchain firm the CBE Foundation. Vadim is fluent in Mandarin and has a long history of conducting business in China, which has brought him in contact with the country’s biggest industry players including Binance, Huobi, OkEX and many others. 

Stay tuned for editorial team

We will soon be announcing the Cointelegraph China editorial team. Our editorial team will produce the highest quality journalism for our readers in China, holding steadfast to the values of editorial independence and responsibility to our readers.

Cointelegraph China is now our third base in Asia, following the establishment of Cointelegraph Japan in Tokyo in December 2017 and Cointelegraph Korea in August of this year. China has proved itself a hub for blockchain development, with the support of President Xi Jinping and a slew of blockchain-related patents filed with local regulators.

The country is maintaining a hardline stance toward crypto, as cryptocurrency trading is wholly banned in China. Meanwhile, the country has declared plans to issue its own digital currency to compete with the United States dollar in the global market. Our China-based team will work consistently to raise awareness in the region and deliver readers a clear insight into significant industry developments.

Researchers Detect New North Korea-Linked MacOS Malware on Crypto Trading Site

Security researchers have discovered a new cryptocurrency-related macOS malware believed to be the product of North Korean hackers at the Lazarus Group.

As tech-focused publication Bleeping Computer reported on Dec. 4, malware researcher Dinesh Devadoss encountered a malicious software on a website called “unioncrypto.vip,” that advertised a “smart cryptocurrency arbitrage trading platform.” The website did not cite any download links, but hosted a malware package under the name “UnionCryptoTrader.”

Linkage to North Korean hackers

According to the researchers, the malware can retrieve a payload from a remote location and run it in memory, which is not common for macOS, but more typical for Windows. This feature makes it difficult to detect the malware and carry out forensic analysis. Per VirusTotal, an online service for analyzing and detecting viruses and malware, only 10 antivirus engines flagged it as malicious at press time.

After conducting an analysis of the newly detected malware, security researcher Patrick Wardle determined “clear overlaps” with malware found by MalwareHunterTeam in mid-October, which purportedly led to the Lazarus group. At the time, the researchers detected that Lazarus had created another malware targeting Apple Macs that masquerades behind a fake cryptocurrency firm.

Recent North Korea-related developments

In recent months, there has been plenty of news about North Korea-related developments. In late November, United States prosecutors announced the arrest of Virgil Griffith, who allegedly traveled to North Korea to deliver a presentation on how to use crypto and blockchain technology to circumvent sanctions.

Following the arrest, Ethereum (ETH) co-founder Vitalik Buterin declared his solidarity with Virgil Griffith, having supported a petition to free the blockchain developer.

The United Nations Security Council’s Sanctions Committee on North Korea accused the country of using a Hong Kong-based blockchain firm as a front to launder money. 

Saxo Bank’s Outrageous Prediction 2020: Asia Launches DLT-Based Asset

Major Danish bank Saxo Bank has predicted that Asia will launch its own blockchain-based digital asset in its new report of smashing predictions for 2020.

The latest edition of “Outrageous Predictions” by Saxo Bank also forecasts that President Donald Trump will likely lose the 2020 elections, while Hungary will leave the European Union. The report was issued on Dec. 3, according to a tweet by the bank.

Saxo Bank claims that Asia will launch a new reserve asset in order to “confront a deepening trade rivalry and vulnerabilities from rising US threats to weaponise the US dollar and its control of global finances.”

Chinese renminbi will be “heavily prominent” 

Specifically, the bank predicts that the new asset, called the Asian Drawing Right, or ADR, will be issued by the Asian Infrastructure Investment Bank. The new digital asset will be “driven by blockchain technology” and based on regional central bank reserves, while its backing will be a basket of global currencies and gold.

While Chinese renminbi is forecasted to be “heavily prominent” in the ADR’s combination of currencies, the U.S. dollar is weighted at below 20%, according to Saxo Bank’s prediction. Total backing for the coin will be worth $2, making the ADR “the world’s largest currency unit,” according to the bank.

According to the forecast, the move is “clearly” aimed at reducing the impact of the U.S. dollar in regional trade and local economies. Blockchain technology will be implemented in order to provide stability of the money supply and tracking transactions in the ADR, Saxo Bank stated.

Saxo Bank is known for its crypto predictions

Saxo Bank’s Asian digital currency prediction for 2020 is not the first forecast by the bank associated with blockchain technology. In fact, the bank has made multiple predictions about the major cryptocurrency Bitcoin (BTC) and other crypto markets to date. 

In mid-April 2018, Saxo Bank predicted that cryptos will see a major bull market in Q2 2018. However, after a short bull trend in April, crypto markets saw a major bearish move throughout the second quarter.

In 2016, when Bitcoin was trading between $450 and $950, Saxo Bank predicted that Bitcoin will hit $2,100 in 2017. Eventually, Bitcoin hit its all-time high of $20,000 at the end of that year. 

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