Binance Invests in a Chinese Crypto News Site

  • Mars Finance that reached $200 million post-money valuation also includes Bitmain co-founder Jihan Wu as an investor

The world’s leading cryptocurrency exchange Binance has made its first strategic Chinese investment, joining funding round in crypto data website Mars Finance.

Investors in the round also included Bitmain co-founder Jihan Wu, Ceyuan Ventures, and Matrixport, this valued the firm at about $200 million. This funding is Binance’s first strategic investment in China, a market the exchange has to withdraw from in 2017 after it banned cryptocurrency trading.

Binance founder, Changpeng Zhao reportedly said in a statement that Mars Finance has expanded its influence rapidly since it entered the market.

Beijing-based Mars Finance is a crypto new service that was founded in 2008. Previously, it completed two funding rounds with backings from IDG Capital and venture arms of crypto exchanges Huobi and OKCoin.

It also runs its venture fund called Consensus Lab that has invested in Coinsuper, a “virtual asset trading platform and self-regulated custodian.”

“Let's make more news, and less FUD. Invest in the industry,” is what “CZ” wrote on Twitter on this news.

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AnTy
AnTy
AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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