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Jihan Wu’s Matrixport to Stop Servicing Chinese Users in 4 Days

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Mon, 10/11/2021 - 12:17
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Yuri Molchan
Matrixport exchange founded by Jihan Wu to stop providing services to users in mainland China
Jihan Wu’s Matrixport to Stop Servicing Chinese Users in 4 Days
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Chinese journalist and blogger Colin Wu, who covers the topics of blockchain and crypto, has announced that Matrixport, the exchange founded by Bitmain co-founder Jihan Wu, plans to withdraw from the Chinese market.

The tweet says that the company will stop providing services to mainland China users in just four days—on Oct. 15.

Matrixport offers earning interest on crypto, taking out crypto loans, buying digital assets and other similar services.

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Following the new crypto ban announced in China in late September, when commercial crypto transactions were announced as illegal, as well as crypto mining, more than 20 crypto-related business entities announced that they will stop working in mainland China. Among them are Binance and Huobi exchanges—the largest ones in the region.

Over the weekend, major crypto miner producer Bitmain also announced that it is going to stop selling mining machines to Chinese customers. Jihan Wu is no longer the head of Bitmain.

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About the author

Yuri is a crypto 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 in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.