- Joined
- Mar 3, 2018
- Messages
- 1,713
One of China's richest cryptocurrency tycoons, Li Xiaolai, announced his exit from the industry on the social media platform Weibo. Li is "one of the largest" Bitcoin holders in the country, and helped found the investment firm Bitfund. The billionaire stirred up some controversy earlier this year after a rant leaked onto the web, which he received considerable backlash for. However, his exit could also be related to the Chinese government's recent crackdown on Bitcoin.
"From this day on, Li Xiaolai personally will not invest in any projects (whether it is blockchain or early stage). So, if you see 'Li Xiaolai' associated with any project (I have been associated with countless projects without my knowledge, 99% is not an exaggeration), just ignore it," Li said in a Weibo post (our translation). He went on: "I plan to spend several years to contemplate on my career change. As for what I’m doing next, I’m not sure just yet."
"From this day on, Li Xiaolai personally will not invest in any projects (whether it is blockchain or early stage). So, if you see 'Li Xiaolai' associated with any project (I have been associated with countless projects without my knowledge, 99% is not an exaggeration), just ignore it," Li said in a Weibo post (our translation). He went on: "I plan to spend several years to contemplate on my career change. As for what I’m doing next, I’m not sure just yet."
Last edited: