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.
Let's make more news, and less FUD. Invest in the industry.https://t.co/QsAntt0UpH— CZ Binance (@cz_binance) September 17, 2019
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.
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.