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China The Almighty Buck

OKCoin Raises $10 Million To Become China's Largest Bitcoin Exchange 48

Posted by samzenpus
from the what-could-go-wrong? dept.
edibobb writes "Despite recent cryptocurrency crackdowns by the Chinese government, OKCoin announced a round of $10 million funding by three prominent venture capital firms and other investors. OKCoin is supposed to be the largest bitcoin exchange in China. From the article: '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 was the biggest exchange in the world, having managed to raise a $5m Series A funding round from Lightspeed Venture Partners (Snapchat, Nest). There were even rumours that a bigger round was in the works for the young company. However, things change quickly. After the Chinese government began regulating bitcoin in December, trade volume plummeted and the world’s top exchange was no longer Chinese.'"
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OKCoin Raises $10 Million To Become China's Largest Bitcoin Exchange

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