As a researcher with a keen interest in the dynamic world of cryptocurrencies and blockchain technology, I find myself consistently intrigued by the complexities and unpredictability that define this rapidly evolving sector. The latest developments surrounding Feixiaohao, China’s leading crypto market data platform, have certainly piqued my curiosity.
It appears that Feixiaohao, a significant cryptocurrency market data and news source based in China, is said to be under investigation by local authorities. Established in 2017, this platform has grown to play a crucial role within the Chinese crypto sphere, earning comparisons to CoinGecko for its contributions.
Although China enforced a tough ban on cryptocurrency transactions by 2021, Fexiaohao has persisted, providing essential crypto market updates for Chinese users. On August 28, prominent Chinese cryptocurrency journalist Colin Wu disclosed that some high-ranking members from Fexiaohao were taken into custody during an ongoing probe in Inner Mongolia, a self-governing region located in northern China.
Through my research and as shared via my channel, Wu Blockchain News, I’ve come across a piece of intriguing information from a local WeChat crypto-focused platform. It appears that the police in Inner Mongolia have apprehended several prominent figures within the Fexiaohao movement, according to this report. However, the specific reasons behind the investigation remain undisclosed at present. As per my sources, this investigation seems to have been underway for over half a year now.
Simultaneously, several of Feixiaohao’s trading partners expressed their inability to access the platform, making the situation more intricate. However, despite these troubling reports, Feixiaohao has persisted in posting updates on its website, with the most recent update posted on August 30.
As an analyst, I’m observing that while the platform remains operational, it’s facing uncertainties due to ongoing research and recent developments. Despite China’s crypto ban in 2021, Feixiaohao has continued its operations, underscoring its significance within the Chinese cryptocurrency community. According to SimilarWeb data from July 2024, the platform attracted approximately 200,000 monthly visitors, with about a quarter of that traffic originating from China.
Despite China’s 2021 cryptocurrency ban, Feixiaohao has persisted in its operations, underscoring its significance within the Chinese cryptocurrency community. According to SimilarWeb data from July 2024, the platform attracted approximately 200,000 monthly visits, with China contributing about a fifth (23%) of the total traffic.
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2024-08-30 17:40