Hong Kong Investment Fund Bought Chinese BTC Giant BTCC

The funds received as a result of the transaction will be used to expand the international presence of the conglomerate after leaving the Chinese market
30 January 2018   686

The Chinese bitcoin-giant BTCC was bought by an unnamed investment fund from Hong Kong. This is reported by IBTimes.

We currently aren't releasing the information on the fund nor the amount of resources raised.

BTCC Spokeswoman 

Only in 2017, the BTCC mining pool generated nearly $ 900 million in bitcoins, while the company's own currency exchange accounted for more than $ 25 billion. Also, last year, BTCC launched its own mobile Mobi wallet, which, according to the company, already has users more than in 180 countries of the world.

Today's acquisition is an incredible milestone for BTCC that validates all of our hard work over the past few years. I'm very excited about the resources this gives BTCC to move faster and aggressively grow our businesses in 2018 and beyond.

Bobby Lee

Co-founder, BTCC

As added by the BTCC, in the future the company will focus on three main areas of work: the international mining pool, the Mobi wallet and the US dollar-based exchange.

BTCC to Close It's Mining Business

This measure is caused by the "business adjustments"
07 November 2018   782

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.