BTCC May Sell Pool's Stake for $17M

Potencial buyer is Value Convergence (VC) Holdings Limited – a Hong Kong-based financial service firm
25 June 2018   550

The BTCC's mining unit gave consent for the sale of 49% of its shares. This is reported by Coindesk.

The transaction amount is 147 million Hong Kong dollars (17 million US dollars) if its participants sign the final agreement. The potencial buyer is Value Convergence (VC) Holdings Limited.

The protocol of mutual understanding does not impose legal obligations on its participants, and the terms of the deal are subject to further discussion.

VC Group provides brokerage services in the securities sector and manages assets. The firm said that it aims to expand its presence in the fintech sector.

In January, it became known that BTCC was bought by the Hong Kong investment fund.

BTCC to Close It's Mining Business

This measure is caused by the "business adjustments"
07 November 2018   655

BTCC will shut down the mining pool BTCC Pool Limited due to "business adjustments", CoinDesk reports.

BTCC, also known as BTC China, launched a pool in 2014, along with the Mobi wallet and the eponymous cryptoexchange.

Note that on August 24, 2017, BTCC Pool mined the block on which the SegWit protocol was activated. In June of this year, Hong Kong financial company Value Convergence announced its intention to acquire a 49% stake in the pool.

BTCC was the oldest crypto-exchange in China before the events of September 2017. Exchange founded Bobby Lee, brother of the creator of Litecoin Charlie Lee.