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New Reports Suggest Justin Sun and SBF to be the Actual Buyers of Huobi

Oct 10, 2022

There is another twist to the Huobi takeover which was reported a few days ago. Barely 48 hours after reports emerged that the Hong Kong-based assets management company, About Capital Management, had acquired the exchange, more reports are showing that the real buyers, albeit going through t...

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Hong Kong’s About Capital Management Finally Acquires Huobi Exchange

Oct 8, 2022

Speculations about the takeover of China’s one-time largest cryptocurrency exchange, Huobi, have been finally put to rest. By becoming the largest shareholder of the company, About Capital Management now takes control of the once-second-largest cryptocurrency exchange in the world. Consi...

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China Rides Higher on Crypto Adoption Scale Despite Ban

Sep 26, 2022

China has re-entered the top ten of Chainalysis’ countries in cryptocurrency adoption, the blockchain analysis firm has stated. Its latest summary indicates that the Asian country moved three places from its 13th spot on the 2021 Global Crypto Adoption Index and now sits at the 10th. The m...

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Name Change Imminent for Hong Kong-Listed Huobi Company

Sep 22, 2022

All is set for the change of name of one-time China’s flagship cryptocurrency exchange, Huobi. Per a report from renowned crypto and fintech Chinese journalist Colin Wu, the company is set to change its name to New Huo Technology Company Limited. They will precede a general meeting of ...

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Meitu Declares $43 Million Impairment Loss Over Crypto Holdings

Sep 2, 2022

Meitu, a Chinese AI-driven tech company primarily focused on smartphone and selfie app manufacturing has declared a $43 million impairment loss on its cryptocurrency holdings. According to reports, this impairment loss has more than doubled over the last quarter. Meitu’s loss is a reflection ...

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China’s Once-Largest Exchange in Talks to Sell Majority Stake

Aug 15, 2022

The founder of China’s Huobi Group, which runs one of the world’s largest cryptocurrency exchanges, is reportedly in talks with investors to sell his almost 60% stake in the trading platform. Leon Li selling his majority stake in the crypto exchange could be the industry’s largest takeo...

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China CPI Records Two-Year High: Potential Impact on Cryptocurrencies

Aug 11, 2022

Financial figures recently released in China by the country’s National Bureau of Statistics (NBS) reflected some significant figures that would have an extended impact on different aspects of the financial industry. One of the flagship data that was released was the Consumer Price Index...

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New Survey Characterizes Chinese Crypto Investors 

Jul 24, 2022

A survey of more than a thousand Chinese cryptocurrency investors shows that most of them - about 75% - are based in Shanghai and Beijing, while those overseas have a high concentration in Singapore. The survey of 1,035 investors by Winkrypto, an advisory and marketing company founded in S...

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China’s COVID Lockdown Made Tesla Sell Bitcoin Holdings, CEO Says

Jul 22, 2022

Tesla has sold off 75% of its Bitcoin holdings to bolster its cash reserves, the electric vehicle company has stated, citing the uncertainty surrounding the COVID-19 lockdowns in parts of China as the main factor for the action. “The reason we sold a bunch of our Bitcoin holdings was t...

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Meitu Announces Yet Another Impairment Loss on Crypto Investment

Jul 4, 2022

The Meitu Group's board of directors has informed the company’s shareholders and potential investors that it has incurred yet another loss on its cryptocurrency investment. Due to the impairment it has suffered in its purchased cryptocurrencies, the Group's unaudited consolidated accounts for...