A story from Wu Blockchain News says that Feixiaohao, a well-known cryptocurrency market data provider in China, is being looked into by the government. Police in Inner Mongolia, an autonomous area in the north of China, are looking into the case and are said to have arrested several top executives.
The news was first shared by Colin Wu, a Chinese cryptocurrency journalist, who mentioned a WeChat channel for crypto news. The website, which is sometimes called “Chinese CoinGecko,” has grown to become the most significant simple Chinese crypto market data site since it first came out in 2017.
Feixiaohao Still Publishing News
It’s still not clear why the review is going on, and it’s been going on for over six months. Wu said that a lot of Feixiaohao’s swap partners haven’t been able to get in touch with the business. Even though Feixiaohao is being investigated, they are still putting out news stories. The most current ones were posted on August 30.
SimilarWeb says that Feixiaohao got about 200,000 hits a month in July 2024, with 23% of those visits coming from China. This is interesting because the People’s Bank of China (PBoC) put in place strict rules in 2021 to stop people in the country from using cryptocurrencies.
This makes me wonder what will happen to bitcoin media in China in the future, since some outlets have kept going even though they were told they couldn’t in 2021. Feixiaohao is still being investigated, which could mean that the Chinese government will change how it deals with services linked to cryptocurrencies.
