[2017-12-15]Giant Network Invest $27.2 Million For 14% OKCoin Share

[hl5460]

According to Tencent Technology, Giant Network and Weiyi Capital has become the latest shareholder of Beijing Oukai Lianchuang Network Technology Co., Ltd, which is the only shareholder of OKCoin. Search result from business administration authority indicates that Giant Network has 10% of OKCoin’s share and Weiyi Capital owns 1.5996%. The business license of Beijing Oukai Lianchuang was updated on 31 October, 2017. Previously, Shi Yuzhu, President of Giant Network, has defended Bitcoin’s significance upon  “ICO ban” in September 2017.

http://news.8btc.com/giant-network-acquire-10-of-okcoin-share

[hl5460]

Update on 18 December:

According to Sina Finance, Giant Network has invested 184,142,388.57 yuan(27.2 million USD) on OKCoin to acquire 14.00% of its share.

[CryptoBry]

Cryptocurrency business has remained to be booming in China despite the recent bans imposed by the government on Bitcoin exchange and holding of ICOs. This is one area which China failed to see the significance of. They were already the leader in Bitcoin and then gradually the leadership was passed to Japan (which I prefer of course since I don't like the bully attitude of China). I am not wishing that China go back to the Bitcoin table as we can all survive and prosper without the Chinese market opening (though there are still many Chinese into Bitcoin even up to now!). Bitcoin does not need China but they can go with other crypto-related projects by the way.

[man22555]

That's honestly great news; always glad to see new money floating into the game.
Though i don't know why OKcoin? I didn't research this project much, what makes it special compared to Binance for example?