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Blockchain News

Chinese Bitcoin Billionaire: “I’m Done with Investing in Blockchain”

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Chinese Bitcoin Billionaire: "I'm Done with Investing in Blockchain"

The well-known Chinese crypto-investor Li Xiaolai stated that he will no longer personally invest to blockchain and ICO projects, TechNode reports.

 

“From today, Li Xiaolai will no longer personally invest in any projects related to the blockchain or ICO at an early stage. So, if you see “Li Xiaolai” is associated with a project (I’m associated with a lot of projects without my knowledge), just ignore it, ” – he wrote in a microblog on Weibo.

He also added that he plans to spend a couple of years “thinking over the changes in his career.”

At the same time, Xiaolai stressed that he does not yet know what to do in the short term.

Li Xiaolai is the founder of the BitFund venture company based in Beijing. It is also considered one of the largest “bitcoin-hodler” in China. It is not surprising that his statement caused a significant resonance in the local community. However, many crypto-entourage believe that Xiaolai still will not completely abandon the investment in new projects.

Earlier this year, Lee abandoned the offer to become a partner in the government-sponsored Hangzhou Xiong’An blockchain fund with $1 billion in assets.

A few months earlier, venture capitalist Chen Weising unleashed an “Internet war” against Lee, making a series of unfriendly statements in his address. For example, in June, he called Lee “a fraud” and “swine” in the crypto-currency world. Later he said that in 2013, Lee received 30 thousand bitcoins from a group of investors to create a fund, but he could not return them.

Chinese Bitcoin Billionaire Li Xiaolai Secretly recorded

Chinese Bitcoin Billionaire Li Xiaolai Secretly recorded

A secret recording of the biggest Chinese bitcoin Tycoon Li Xiaolai has emerged yesterday on Chinese social media.  In this recording, he calls out many big names in the crypto space as “cheaters” and scammers. Has caused a huge uproar in the Chinese Crypto scene. Who is Li XiaoLai? He is a venture capitalist from […]

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Ashton Felix is currently a contributing writer for multiple crypto news sites. He got his big break when he mined his first bitcoin back in 2012. He enjoys learning about new technology and travels throughout Asia in his spare time. Ashton immediately fell in love with the culture and people of China. He is currently based out of Shenzhen and is fluent in Mandarin.

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