Bloomberg confirms that Bitmain – the largest ASIC manufacturer in the world, accounting for up to 80% of the market share – is under national security investigation in America. The investigation, named Operation Red Sunset (ORS), began during the Biden administration but has only now been disclosed, aimed at examining whether Bitmain's devices contain vulnerabilities that allow remote control, interfere with energy infrastructure, or pose risks in areas near military bases. Some of Bitmain's shipments had previously been held by U.S. Customs for firmware and chip inspection.
Although Bitmain denies all accusations, that does not lessen the confusion in the market.
Insiders and miners have sold off heavily due to prior knowledge of the news. That's why $BTC broke through major support levels without any support.
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Bloomberg confirms that Bitmain – the largest ASIC manufacturer in the world, accounting for up to 80% of the market share – is under national security investigation in America. The investigation, named Operation Red Sunset (ORS), began during the Biden administration but has only now been disclosed, aimed at examining whether Bitmain's devices contain vulnerabilities that allow remote control, interfere with energy infrastructure, or pose risks in areas near military bases. Some of Bitmain's shipments had previously been held by U.S. Customs for firmware and chip inspection.
Although Bitmain denies all accusations, that does not lessen the confusion in the market.
Insiders and miners have sold off heavily due to prior knowledge of the news. That's why $BTC broke through major support levels without any support.