SoftBank invested a multi-million dollar investment into a small Chinese cryptocurrency exchange named ZT
According to information from Wu Blockchain, SoftBank in the UK has invested in a small Chinese cryptocurrency exchange.
The investor behind ZT is Chen Jiu, an early Chinese bitcoin investor. In 2020, ZT Exchange was widely reported by the media due to disputes with investors involving the police. The Chinese community is very puzzled by this investment.
— Wu Blockchain (@WuBlockchain) February 27, 2021
Specifically, the official account of the Softbank Group UK branch announced that it has completed a multi-million dollar investment in the ZT exchange. This is the Softbank Group (UK) Group’s first investment in blockchain.
The investor behind ZT is Chen Jiu, an early Chinese bitcoin investor. In 2020, the ZT Exchange was widely reported in the press due to a dispute with investors related to the police. The Chinese community is very puzzled by this investment.
What’s even odder is that only the Chinese account of SB Investment Advisers delivers news and no information from any other channels. You can refer to the information here: https://mp.weixin.qq.com/s/H5dczPln9jcKZ7MlcUbJjA
Softbank’s Singapore subsidiary once invested in BGX, another small Chinese exchange. SoftBank has many small investment institutions located in many different countries. But in any case, this form of investment does not appear to make financial sense and has a higher risk of compliance.
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