Joe Biden Administration in the USA is Preparing to Make a Move Concerning Bitcoin Before Leaving!

The Biden administration is preparing to blacklist Sophgo, a Chinese company accused of incorporating a chip produced by Taiwan Semiconductor Manufacturing Company (TSMC) into Huawei’s artificial intelligence (AI) processor without permission, according to a source with knowledge of the matter.

world’s largest Bitcoin Sophgo, co-founded by Micree Zhan, who also founded mining machine and chip maker Bitmain, is under scrutiny for its alleged connection to Huawei’s Ascend 910B multi-chip system. It was reported that the chip in Huawei’s processor matches the chip that Sophgo ordered from TSMC, and this further increased concerns.

Sophgo has become the latest Chinese organization to face US sanctions for allegedly aiding telecommunications giant Huawei, which has been on the US Entity List since 2019. This list prohibits companies from exporting goods and technology to restricted entities without special licenses, which are rarely granted.

In recent months, the US Department of Commerce has intensified its actions against companies seen as part of Huawei’s “shadow network” and added several to its restricted trading list. A Department of Commerce spokesman declined to comment on Sophgo’s case.

In recent months, the US Department of Commerce has intensified its actions against companies seen as part of Huawei’s “shadow network” and added several to its restricted trading list. A Department of Commerce spokesman declined to comment on Sophgo’s case.

Sophgo’s ties to Bitmain, a leading company in Bitcoin mining, and its work with state-owned firms such as China Telecom have increased these concerns.

Sophgo and Bitmain, the world’s largest Bitcoin mining machine and chip company, were founded by Micree Zhan.

*This is not investment advice.