As China’s cryptocurrency entrepreneurs continue to drive a leverage craze that has wired new systemic risks into the global financial system, the Trump administration is giving the crypto industry free reign. The Chinese Communist Party wants no part of it.
Illustration by Pete Ryan
One Friday evening last October, U.S. President Donald Trump reignited the trade war with China. In doing so, he also inadvertently triggered the largest meltdown in the history of the cryptocurrency industry.
Trump announced new 130 percent tariffs against China on October 10, in response to China’s plans to tighten restrictions on exports of critical rare earths. China responded that it was ready for a prolonged battle. “If you wish to fight, we shall fight to the end,” Chi
Exclusive longform investigative journalism, Q&As, news and analysis, and data on Chinese business elites and corporations. We publish China scoops you won't find anywhere else.
A weekly curated reading list on China from Andrew Peaple.
A daily roundup of China finance, business and economics headlines.
We offer discounts for groups, institutions and students. Go to our Subscriptions page for details.
California-based Jupiter Systems sold high-tech wall screens to U.S. military and government clients. On June 14, The Wire China revealed how Jupiter was sold to a Chinese company in 2020 without the first Trump administration’s knowledge. Now Trump is back and on the case as Jupiter teeters on the verge of bankruptcy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.
