Seven Stars Cloud Group, a chinese company specialized in cloud computing solutions, announced this week that its 27% interest in a company exchanges of crypto-currencies in the United States, Delaware, a Board of Trade Holdings. SSC is owned and managed by the magnate of entertainment, Bruno Wu, who, in the opinion of many analysts, seeks to impose itself on the market of digital currencies. It wants to also invest half a billion dollars in this sector.
Bruno Wu buys Delaware Crypto Exchange
The SSC chinese issued a press release stating they have bought a share of nearly 27 % of The Delaware Board of Trade Holdings. This company is the first and only company in trading, technology-based Blockchain with the approval of the SEC. This transaction will allow the SSC, the largest shareholder of the company in Delaware Crypto Exchange. Mr. Wu is regarded as one of the greatest tycoons of business and entertainment in China, has confirmed Jon Najarian, a senior official of the company exchange.
If you missed this announcement, here are the details :
The Delaware corporation is the only commercial system of its kind authorized by the SEC, if we are to believe the press release of the SSC. The announcement has propelled the action of the chinese company on the Nasdaq, up more than 25 %.
The plans of Mr. Wu
At the beginning of this year, the efforts of Chongping Hosted Enterprise Group in China have been halted by the SEC. In fact, it has also attempted to buy the Chicago stock exchange. The lawmakers complained about a lack of transparency in the structure of the chinese company.
Source : Wikimedia Commons
Until now, the SEC has not commented on the acquisition of Mr. Wu. However, his company has big plans for this merger. It is expected, therefore, to see the situation unlock for China with these different acquisitions, allowing for the growth of crypto-currencies.