BTCC, the first Bitcoin exchange launched in China, announced on Monday its acquisition by a blockchain investment fund without disclosing the name of the Hong Kong‐based buyer or the terms of the transaction. The deal comes amid a regulatory crackdown by the Chinese government.Under its new owner, BTCC will prioritize international markets and its three flagship products — BTCC Pool, Mobi, and the crypto exchange. The units will be run by Denver Zhao, Mark Ma, and Aaron Choi, respectively.
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- China’s Oldest Cryptocurrency Exchange BTCC Acquired by an Undisclosed Blockchain Investment Fund coinspeaker.com on
According to BTCC founder, the acquisition is a major milestone as it will help the exchange to grow virtual currency adoption and expand its business worldwide.