Binance’s First Strategic Chinese Investment is a CoinDesk Rival
By Zheping Huang – Mars Finance reached a $200 million post-money valuation. Investors also include Bitmain CO founder’s new crypto firm.
The crypto exchange giant, Binance Holdings Ltd., has made its first strategic investment in China, joining or joining in a funding round assessing Mars Finance’s crypto-data website at around $ 200 million.
Investors in the round also included Ceyuan Ventures and Matrixport, a financial services startup that could be created by co-founder Bitmain Technologies Ltd. Wu Jihan, said Mars Finance in a statement yesterday.
This funding is Binance’s first strategic investment in China, a market that was withdrawn in 2017 after Beijing bought digital trading coins. “CZ” founder Zhao Changpeng said in his statement that Mars Finance had quickly announced its influence from the start. Wow! extraordinary.
Beijing-based Mars Finance was founded by local entrepreneur Wang Feng in 2018, one of several dozen nascent Chinese-language crypto news services similar to CoinDesk. It previously completed two funding rounds with backers including IDG Capital and the venture arms of exchange operators OK Coin and Huobi. The startup also runs its own venture fund called Consensus Lab, which has invested in Hong Kong based Coinsuper.
Prioriti to Mars Finance, Wang co founded Linekong Interactive Group Co. in 2007, a mobile game developer and publisher that went public in Hong Kong in 2014.
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Source : bloomberg