• Jihan Wu’s Matrixport will cease serving Chinese users in four days

  • Colin Wu, a Chinese journalist and blogger who covers blockchain and cryptocurrency, has announced that Matrixport, the exchange founded by Bitmain co-founder Jihan Wu, plans to exit the Chinese market.

    According to the tweet, the company will cease providing services to mainland Chinese users in just four days – on October 15.

    Matrixport provides services such as earning interest on cryptocurrency, taking out crypto loans, purchasing digital assets, and other similar ones.

    Following the new crypto ban announced in China in late September, which made commercial crypto transactions as well as crypto mining illegal, more than 20 crypto-related business entities have announced that they will cease operations in mainland China. Among them are the region’s largest exchanges, Binance and Huobi.

    Over the weekend, Bitmain, a major cryptocurrency miner manufacturer, also announced that it will no longer sell mining machines to Chinese customers. Jihan Wu is no longer Bitmain’s CEO.

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