news & articles

Your go to place to stay updated with the latest news and fun articles from the finance and crypto worlds.

ALERTS | ICOS | STOCKS | CRYPTOS | OPINIONS

© Copyright GGG Inc.

The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. All Content on this site is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in the Site constitutes professional and/or financial advice, nor does any information on the Site constitute a comprehensive or complete statement of the matters discussed or the law relating thereto.

Oldest Chinese Bitcoin Exchange BTCC Acquired By Hong Kong Investment Fund

BTCC has been acquired by Hong Kong-based fund, will focus on mining pool, wallet software and crypto exchange going forward.

The BTCC Bitcoin exchange, formerly known as BTC China, has been acquired by a Hong Kong-based Blockchain investment fund on terms that are yet to be disclosed, the company has revealed in a blog post Monday, Jan. 29.

Calvin Cheng, an advisor for the yet-undisclosed investment fund, expressed his excitement about their acquisition of the longest-running Bitcoin exchange in China, saying that they were “humbled” by the opportunity.

According to BTCC’s press release, the company will now focus on three major market spheres, namely the international BTCC Mining Pool, Mobi wallet software, and its own cryptocurrency exchange.

Co-founder of BTCC Bobby Lee expressed his confidence for the future after the deal, saying that he is “very excited about the resources this gives BTCC to move faster and aggressively grow [its] businesses in 2018 and beyond.”

The company has faced an uphill battle to grow since being effectively ousted from their homeland base in Shanghai, China in September due to Chinese government banning cryptocurrency trading in the country. The company has since set up a new base of operations in Hong Kong, and will now have the capital to continue its brand remake.

No Comments

Post A Comment