Chinese Crypto Data Firm Executives Under Investigation
Feixiaohao, a prominent cryptocurrency market data and news provider in China, is reportedly under investigation by local authorities.
On August 28, Chinese crypto journalist Colin Wu reported that several key executives from Feixiaohao have been detained in Inner Mongolia as part of an ongoing probe. The specific reasons for this investigation remain unclear.
Feixiaohao, launched in August 2017, is known as a major source of cryptocurrency market data in Chinese, similar to CoinGecko. Despite China’s strict cryptocurrency regulations, the site has continued operations and maintained a significant user base.
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The investigation, which has reportedly been ongoing for over six months, has left many of Feixiaohao’s exchange partners unable to make contact with the firm. The website remains active, with recent articles published as of August 30.
The impact of China’s 2021 cryptocurrency restrictions on local media has been mixed, with some outlets shutting down while others, like Feixiaohao, continue to operate.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
