In this week's edition, TradeBlock covers Genesis surge in crypto backed loan originations, Deribit's invalid liquidations, and Binance opening up a Beijing office as China changes stance on digital currencies.
This past week, it has been reported that Binance will increase its mainland China operations with a new office in Beijing. While details of the office’s operations remain unclear, the news comes as Chinese officials embrace blockchain technology. Last week, we highlighted comments from Chinese President Xi Jinping, who emphasized the country should seize the opportunities presented by blockchain technology. Following release of his comments, the price of bitcoin rose more than 20% in one day, for one of its strongest daily price moves in months.