Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- China probed the Minister of Industry and Information Technology Xiao Yaqing for "violation of discipline and law."
- Xiao's ministry regulated the domestic heavy industry, automobile, telecom, and electronics sectors, overseeing companies from Huawei Technologies Co to Xiaomi Corp (OTC:XIACY), Bloomberg reports.
- He attracted attention following his exclusion from a list of central government officials slated to attend the upcoming Party Congress.
- The scandal coincided with the U.S. exploring restrictions on shipments of chipmaking tools to China, including canvassing countries to discourage chipmaking ties with China and approval of its CHIPS Act.
- The upcoming monthly Communist Party's Politburo meeting vowed to strive for the "best outcome" for economic growth this year.
- The situation unfolded weeks before China's Presidential election, in which President Xi Jinping will likely secure a third term.
- Jinping consolidated power over the past decade partly due to a sweeping corruption crackdown.
- Before his political career, Xiao was president of Aluminum Corp of China when it bought a $14 billion stake in Rio Tinto Plc (NYSE:RIO) with Alcoa Corp (NYSE:AA) in 2008.
- Earlier this year, China's top economic official offered an unusually public show of support for digital platform companies ahead of the election.
- Price Action: XIACY shares traded higher by 0.62% at $8.18 on the last check Thursday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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