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Binance invests in a Chinese crypto news portal

FX Street
Updated:
  • The cryptocurrency exchange makes the first large investment in Chinese startup after the withdrawal from China.
  • Other Investors include a new crypto company of Bitmain co-founder.

One of the world’s largest cryptocurrency exchange Binance  has joined a funding round of Mars Finance, a crytpocurrency-data website valued at about $200 million, Bloomberg reports. This  move marks the first Binance strategic investment in a Chinese startup.  

Apart from Binance, Ceyuan Ventures and Matrixport participated in the round. The latter company is a financial service startup established by Wu Jihan, a co-founder of Bitmain Technologies Ltd.  

Mars Finance positions itself as an Asia’s leading platform for Blockchain Interviews, breaking news, market data and other information relevant for blockchain and cryptocurrency industry. According to Binance CEO Zhao Changpeng, the company has experienced an exponential growth since inception in 2018. The company, founded by local entrepreneur Wang Feng, successefully ran two financing rounds and raised money from such investors as OKCoin and Huobi.
 

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