In a significant development for the global blockchain landscape, BTCC — formerly known as BTC China and recognized as China’s first cryptocurrency exchange — has been acquired by an undisclosed Hong Kong-based blockchain investment fund. The acquisition, announced on January 30, 2018, marks a strategic pivot for the pioneering platform, signaling its renewed focus on international expansion and core blockchain infrastructure services.
Founded in 2011 by Bobby Lee, BTCC played a foundational role in introducing digital assets to Chinese users and was once among the world’s largest Bitcoin trading platforms. However, following regulatory crackdowns in China, the exchange ceased all trading operations by September 30, 2017, and fully suspended website access and withdrawal services by January 3, 2018.
Despite these domestic limitations, the acquisition unlocks new growth opportunities for BTCC beyond China's borders. While financial terms of the deal remain confidential, company leadership emphasized that the influx of capital and strategic support will empower BTCC to scale its global footprint.
Strategic Shift Toward Global Markets
Post-acquisition, BTCC is redirecting its full attention toward international markets through three key product lines:
- BTCC Mining Pool ("Guochi") – A major mining operation offering transparent and fair mining rewards.
- Mobi Digital Asset Wallet – A secure, user-friendly wallet for managing cryptocurrencies.
- Dollar-based Spot Trading Platform – A fiat-integrated trading service targeting global users.
Each division is led by seasoned executives: Zhao Qianjie as Senior VP of the mining pool, Ma Shiyuan as VP of Mobi Wallet, and Cai Minjie as VP of the trading platform.
“This acquisition represents a milestone for BTCC and validates our long-term commitment to blockchain innovation,” said Bobby Lee, co-founder of BTCC. “With this new backing, we’re poised to aggressively expand our business starting in 2018.”
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Strengthening Blockchain Infrastructure
As part of its restructured vision, BTCC is doubling down on decentralized network support. The BTCC Mining Pool, also known as “Guochi,” aims to provide a one-stop, transparent mining solution for users worldwide.
“We now have better resources to fulfill our mission of maintaining and stabilizing digital asset and blockchain networks,” said Zhao Qianjie, Senior VP of the BTCC Mining Pool. “Going forward, Guochi will focus on delivering fairer, more transparent mining experiences to a global audience.”
This emphasis on infrastructure aligns with broader industry trends where early exchanges are transitioning from speculative trading hubs to foundational blockchain service providers — supporting miners, developers, and long-term holders.
Regulatory Climate and Market Response
The timing of the acquisition coincides with intensified regulatory scrutiny over cryptocurrency activities in China. According to Bloomberg sources familiar with the matter, Chinese authorities were preparing to crack down on over-the-counter (OTC) virtual currency trading hubs — including websites and mobile apps offering exchange-like services.
This move followed earlier actions in 2017, when China banned initial coin offerings (ICOs) and ordered domestic exchanges to halt cryptocurrency trading. These measures significantly reshaped the regional crypto ecosystem, forcing many platforms to either shut down or relocate overseas.
However, rather than signaling the end of innovation, this regulatory pressure has catalyzed a wave of internationalization among Chinese-founded blockchain projects. BTCC’s acquisition exemplifies how legacy platforms can adapt and thrive outside their home market under new ownership and strategic direction.
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Frequently Asked Questions
Q: What happened to BTCC after it stopped operations in China?
A: After halting trading and withdrawals in late 2017 and early 2018 due to Chinese regulations, BTCC was acquired by a Hong Kong blockchain fund. It has since shifted focus to international markets through its mining pool, digital wallet (Mobi), and dollar-denominated spot trading platform.
Q: Who owns BTCC now?
A: The acquiring entity is a Hong Kong-based blockchain investment fund whose name has not been publicly disclosed. The original founders, including Bobby Lee, remain involved in strategic capacities.
Q: Is BTCC still operating in China?
A: No. All domestic operations were discontinued in compliance with Chinese regulations. Current services are targeted at global users outside mainland China.
Q: What services does BTCC offer today?
A: BTCC now focuses on three main offerings: the BTCC Mining Pool (Guochi), Mobi digital asset wallet, and a USD-based spot trading platform — all designed for international accessibility.
Q: Why did China ban cryptocurrency exchanges?
A: Chinese regulators cited financial stability, investor protection, and anti-money laundering concerns. The government moved to prohibit ICOs in 2017 and subsequently ordered local exchanges to cease operations to prevent speculative risks.
Q: Can I still use Mobi Wallet or BTCC Mining Pool?
A: Yes. Both services continue to operate internationally. Users outside mainland China can access Mobi for asset management and participate in the BTCC mining pool for Bitcoin mining rewards.
Looking Ahead: The Evolution of Legacy Platforms
The story of BTCC reflects a broader narrative in the cryptocurrency space — the transformation of early pioneers into globally oriented blockchain service providers. As regulatory environments mature and markets evolve, platforms that adapt survive; those that innovate lead.
BTCC’s journey from China’s first Bitcoin exchange to an internationally focused infrastructure provider underscores the resilience and potential of blockchain ventures even in the face of stringent local restrictions.
With strengthened backing and a clear roadmap for expansion, BTCC is positioning itself not just to survive but to contribute meaningfully to the decentralization movement — proving that reinvention is not only possible but essential in the fast-moving world of digital finance.
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