News

Just-In: China Banking Crisis Deepens; Crypto Market To Take A Hit?

Crypto News: The agency launched investigation process will also include the five financial firms which were targeted earlier.
Published by
Just-In: China Banking Crisis Deepens; Crypto Market To Take A Hit?

Crypto News: Chinese authorities on Wednesday alleged that Li Xiaopeng, former chairman and party chief of Everbright group of violating law and discipline in the nation. This development comes amid the erupting global banking crisis.

Advertisement

Chinese Banks In Crisis?

According to reports, the central commission for Discipline Inspection and the State Supervision Commission has launched a probe against the state owned asset management group. The agency launched investigation process will also include the five financial firms which were targeted earlier.

The inspection is an emerging sign of Chinese authorities are taking down corruption in the financial sector. The authority last week declared that it will be conducting a round of checks of around 30 state owned companies. Read More Crypto News Here…

Also Read: Ethereum Price Shoots Another 6% & Closer to $2,000, Watch This Resistance

It added the China Banking and Insurance Regulatory Commission and anti corruption agency called in the top six state owned bank executives. Authorities addressed executives with an investigation launched over Liu Liange, former Chairman of the Bank of China.

The recently launched probe has shocked the $60 trillion Chinese finance industry. Fresh actions come in to control the risks emerging in the banking system. The policy makers are looking to restore growth and handle economic fallout.

Also Read: Trump NFTs Surge 400% As Former U.S. President Pleads Not Guilty In Court

As the international markets are trading lower due to the ongoing banking failure the crypto market is printing green indexes. The cumulative crypto market is up by 2.35% over the past day to stand at $1.21 trillion.

Bitcoin, the world’s largest cryptocurrency registered a price surge of 28% in the last 30 days. BTC is trading at an average price of $28,481, at the press time.

Advertisement

Share
Ashish Kumar

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at ashish@coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Breaking: Trump To Meet China’s President On October 30, Bitcoin Bounces

Bitcoin surged above $111,000 after confirmation that President Donald Trump and Chinese President Xi Jinping…

October 23, 2025
  • News

Breaking: Trump Pardons Binance’s Changpeng “CZ” Zhao, BNB Spikes

U.S. President Donald Trump has reportedly pardoned Binance founder Changpeng "CZ" Zhao for his conviction…

October 23, 2025
  • News

Peter Schiff Challenges Binance Founder CZ to Debate as Bitcoin Vs. Gold Rivalry Heats Up

Bitcoin critic and renowned economist Peter Schiff has challenged Binance co-founder Changpeng "CZ" Zhao to…

October 23, 2025
  • News

Robinhood Lists HYPE As Hyperliquid Flips CZ Backed Aster In Perp DEX Volume

Crypto exchange Robinhood has listed Hyperliquid's native token HYPE for its U.S. clients. This comes…

October 23, 2025
  • News

Expert Warns More Crypto Bloodbath Ahead of CPI Data Tomorrow

The U.S. Bureau of Labor Statistics (BLS) will release the Consumer Price Index (CPI) data…

October 23, 2025
  • Bitcoin News
  • News

US President Promises Deal With China on Everything As ‘Trump Insider’ Begins To Close Bitcoin Shorts- Is A BTC Recovery Ahead?

The “Trump insider whale” has begun closing its Bitcoin short positions just as the U.S.…

October 23, 2025