THELOGICALINDIAN - Chinese cloudbased solutions account Seven Stars Cloud Group Inc SSC appear this anniversary its 27 percent acquirement pale of US crypto blockchain barter Delaware Board of Trade Holdings Inc DBOT SSC is endemic and run by ball mogul Bruno Wu who abounding analysts accept is aggravating to get in on the nearhalf a abundance cryptocurrency bazaar
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Bruno Wu Buys Delaware Crypto Exchange
China’s SSC beatific out a columnist absolution claiming “today a 27% acquirement of The Delaware Board of Trade Holdings Inc. (“DBOT”), the aboriginal and alone blockchain based Alternative Trading System absolutely accountant by the SEC, for 1,627,869 shares of SSC accepted stock. The transaction will accomplish SSC the better actor of DBOT”.
Referring to Mr. Wu as “One of China’s better business and ball moguls,” Jon Najarian additionally declared DBOT as “a ‘dark pool’ operator” and how SSC had “plans to aggrandize into the trading of ‘bitcoin-like’ securities,” he tweeted. The Delaware aggregation is the alone trading arrangement of its affectionate accountant by the SEC, if the SSC columnist absolution is to be believed.
The advertisement beatific the Chinese company’s banal aerial on Nasdaq, up over 25 percent.
According to Seven Stars Cloud website, the aggregation is “aiming to become a all-around baton in accouterment next-generation Artificial-Intelligence (AI) & Fintech Powered, Supply Chain Digital Finance Solutions.” By purchasing a authoritative absorption in DBOT, SSC hopes its “regulatory accustomed belvedere will be the cornerstone for a ‘plug & play’ and blockchain based, Initial Exchange Offering (IEO) Network.”
John Wallace, CEO of DBOT, was quoted as saying, “We are captivated to added accomplice and anatomy a added business accord with SSC as DBOT and its assorted business curve become key engines that ability SSC’s Global Trading Platform Network for Initial Exchange Offerings.”
Mr. Wu’s Big Plans
Early this year, China’s Chongqing Casin Enterprise Group’s efforts were apoplectic by the Securities and Exchange Commission (SEC) aloof as they approved to breeze up the Chicago Stock Exchange. Legislators complained about the abridgement of accuracy in the Chinese company’s accumulated structure.
So far, the SEC hasn’t commented on Mr. Wu’s acquisition. Nevertheless, his aggregation has big affairs for the merger. It will “leverage DBOT’s accustomed and authoritative accustomed ATS for powering SSC’s blockchain based Nextgen X, which focuses on the trading of banking articles including ETFs backed by agenda assets, that can be tokenized and acclimatized (including agenda bill options) via Initial Exchange Offerings (“IEO”),” the aggregation stated. It hopes to authorize a “plug and play” band-aid advance over 30 altered exchanges in Japan, UAE, Singapore, Africa, Korea, China, Germany, and the United States. 
The New York Post letters Mr. Wu has additionally purchased “a majority allotment of a Youtube-like aggregation alleged YOU On Demand, which was endemic by Apple Wrestling Entertainment begat and able wrestler Shane McMahon — son of WWE architect Vince McMahon and his wife, Linda McMahon, the arch of the Small Business Administration,” the cardboard explained.
For its part, SSC, based on the cryptocurrency-related rumors in the press, issued yet addition release. In it, Mr. Wu himself explains, “Seven Stars Cloud is in no way a Bitcoin-related aggregation and it charge be accent that the opportunities and possibilities of Blockchain extend far above the apple of cryptocurrencies,” he stressed. “Although initially created for Bitcoin, Blockchain provides a added defended and cellophane way of managing all kinds of abstracts and therefore, the abundant applications and uses of this technology are infinite.”
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Images address of Pixabay, SSC, DBOT.
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