0
📰 News

Binance and Bitmain Invest in Promising Chinese Crypto News Platform: Bloomberg

  • 📰 News

    Malta-based crypto giant Binance has conducted its first important investment in China after leaving the country a few years ago over the crypto ban

Cover image via news.u.today
Contents

As reported by Bloomberg, the crypto exchange Binance is back to working with China after withdrawing from the country in 2017 when the local government imposed a ban on the crypto industry.

Curiously enough, Binance has taken part in an investment round of a crypto news platform that it believes to be promising.

Binance, Bitmain are supporting a crypto news platform

The recent funding round for a crypto news platform Mars Finance, during which the firm was valued at $200 mln, attracted Binance and Bitmain, co-founded by Jihan Wu, and other companies, including Ceyuan Ventures.

This investment is the first one in China that is of strategic importance since Binance left the market in 2017 when the crypto ban was imposed on the local ICOs and crypto exchanges.

As reported earlier by U.Today, these days, the Chinese government seeks to restrict crypto mining as well.

👉MUST READ

Ripple-Backed Coil Startup and Mozilla Launch $100 Mln Fund to Let Content Makers Earn

Ripple-Backed Coil Startup and Mozilla Launch $100 Mln Fund to Let Content Makers Earn

Mars Finance supported by other crypto exchanges

The head of Binance, CZ, chose Mars Finance for investing since he believes the startup to be fast expanding and increasing its influence.

During previous investment rounds, Mars Finance caught the eye of two other crypto exchanges – OKCoin and Huobi.

The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

This block is broken or missing. You may be missing content or you might need to enable the original module.
Recommended articles
0
📰 News

Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

  • 📰 News

    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

👉MUST READ

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

Only the most important posts per day. Infographics, analytics, reviews & summaries. Follow us on Facebook!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

This block is broken or missing. You may be missing content or you might need to enable the original module.
Recommended articles