Hong-Kong Energy Startup Rebrands to Blockchain, Losing Huge Crypto Investments

  • Startup Global Energy Resources International Group run by a Chinese billionaire is about to rebrand for the Blockchain sphere. The new name will "Global Token Limited"

Hong-Kong Energy Startup Rebrands to Blockchain, Losing Huge Crypto Investments

The publicly traded Hong-Kong based startup Global Energy Resources International Group run by a Chinese billionaire is about to rebrand for working in the Blockchain sphere. The new name would be “Global Token Limited,” since recently the company has begun working in the crypto area.

Over the past half-a-year, the company has invested in virtual assets and DLT. The total investment amount equals $2.4 mln. Unfortunately, due to the market remaining bearish, the firm lost about half of its investments, about $1.02 mln.

Nevertheless, the company plans to rebrand and keep working with electronic coins and Blockchain.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.