The former CEO of SafeMoon was sentenced to eight years in prison for defrauding investors; the funds were used to purchase luxury homes and sports cars.

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The post China’s mineral moves shake global tech and defense appeared on BitcoinEthereumNews.com. China’s overseas sales of rare-earth products hit a record in August, just days before an expected phone call between Xi Jinping and Donald Trump that could touch on the sensitive materials at the heart of high-tech manufacturing and defense. Shipments of rare-earth products, including high-performance magnets used in consumer electronics and fighter aircraft reached 7,338 tons last month, according to Bloomberg calculations based on government data. It marks the highest monthly level since early 2012 in the available records. The surge follows a steep drop earlier this year after Beijing curbed some rare-earth exports amid a growing trade dispute with the US. A pause in tensions followed. Following talks in Madrid this week, President Trump said he intends to hold a phone call with President Xi on Friday. Beijing’s rare earth rules tightened in April, cutting trade. Cryptopolitan earlier reported when China set export controls in response to higher U.S. tariffs and limits on technology transfer by Western nations. China supplies over 70% of rare earths and handles about 90% of processing. The Ministry of Commerce said the measures protect national security. New licenses slowed approvals, slashing shipments in April and May. The delays disrupted supply chains and forced auto makers outside Beijing to pause output for shortages. In July, the European Parliament urged the EU to bolster key strengths and warned China’s licensing rules seek sensitive data. Germanium demand overwhelms supply chains Pressure is also building in another corner of the strategic metals market. Chinese limits on exports of germanium, a metal vital for military thermal-imaging systems found in fighter jets and other equipment, have created a sharp supply squeeze and driven prices to their highest level in at least 14 years, traders say. Beijing announced in 2023 that it would halt exports of germanium, gallium and antimony after the…

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