World's Largest Bitcoin Exchange BTC China Gets $5 Million in Funding
The world's largest-volume bitcoin exchange, BTC China, received a lift today with $5 million in Series A venture funding from institutional investors Lightspeed China Partners and Lightspeed Venture Partners. BTC China surpassed both Mt. Gox and Bitstamp in trading volume and market liquidity within the past month, and now claims the highest number of registered users. It trades 90,000 bitcoins per day, totaling over CNY 200 million ($32.8 million) in transactions daily. BTC China's CEO and co-founder, Bobby Lee, praised Lightspeed's track record and depth of knowledge in the bitcoin....
Related News
OKCoin, the exchange claiming to be China's largest by trading volume, has announced a $10m Series A funding round. The investment round was led by Ceyuan, one of China's earliest venture capital firms, followed by Mandra Capital, VenturesLab and numerous high-profile angel investors. Despite the nation's recent crackdown on cryptocurrencies, it seems Chinese venture capitalists are still bullish on bitcoin exchanges and the currency itself. Bitcoin in China. Back in November 2013, the focus of the bitcoin community was on China - the world's hub for bitcoin trading. At that time, BTC....
China's largest bitcoin exchange by volume OKCoin has announced that it's raised $10 million in Series A VC funding, according to Chinese site Kuailiyu (first reported in the community by CoinDesk). China's own Ceyuan Ventures led the round, and was joined by Mandra Capital and VenturesLab along with other entities. According to the exchange's CEO, Star Xu, a bulk of the funds will be invested into team-building at the exchange, which currently sees a trade volume of about 50,000 bitcoins daily. In addition, the funds will be used for research and development purposes, security....
At the Inside Bitcoins conference in Las Vegas, the CEO of the world's largest bitcoin exchange, BTC China, dished out some impressive figures with regard to his exchange's growth. "Trading volume has risen from $5 million to $50 million," said head honcho Bobby Lee. Malcom CasSelle from Timeline Labs said "[BTC China is] transacting 150,000 BTC per day." On the topic of when the recent news that China was warning financial institutions from toying with bitcoin, CasSelle said that "BTC China as a business will not have problems with deposits and withdrawals", referring to the very banks....
BTC China, which is now the world's largest Bitcoin exchange, has received a whopping $5 million in Series A investor funds from venture capitalists from Lightspeed China Partners and Lightspeed Venture partners. It's a lot of money, and it's absolutely needed. The exchange has been growing so rapidly and has passed Mt. Gox as the number one exchange, with an average of 90,000 BTC trades daily (about $5.4 million at the current exchange rate). Bobby Lee, who heads BTC China says the money will be used for "general operating expenses", but to also "aggressively grow and expand the....
The Agricultural Bank of China, one of the Big Four Chinese Banks, has begun notifying its Bitcoin Exchange clients of upcoming changes to policy. The other 3 “Big Four” banks in China are: The Industrial and Commercial Bank of China, China Construction Bank, and Bank of China. By market capitalization, the Industrial and Commercial Bank of China is the largest bank in the entire world, according to Relbanks 2013 statistics on largest banks in the world. The Agricultural Bank of China is the 6th largest bank in the world by the same measure, outstripping all American Banks besides Wells....