THELOGICALINDIAN - A Chinese tea banker is attractive to accomplish its birth into the bitcoin mining business Publiclylisted Urban Tea appear the amplification of its operations by appointing two admiral to accompany its crypto plans
Urban Tea Praises Cryptocurrencies’ Widespread Popularity
Per the announcement, Urban Tea Inc. assassin Fengdan Zhou as the company’s new arch operating administrator and Dr. Yunfei Song as an absolute director. The tea banker expects the new roles to advance the “company’s analytical cardinal amplification in blockchain and cryptocurrency mining.”
Zhou will attending advanced to implementing the bitcoin (BTC) business plan of the firm. Her acquaintance includes accepting formed in blockchain abstracts centers beyond Southeast Asia and managing crypto mining farms. Moreover, she has ability in crypto accouterments wallet development, the advertisement details.
Also, Dr. Song comes from an bookish background, accurately actuality a scientist at the Chinese Academy of Sciences. In fact, his ability fields awning blockchain technology, crypto mining, bogus intelligence, amid others.
Yi Long, CEO of Urban Tea, accepted the boundless acceptance that cryptos accept acquired recently. Also, he acicular out that the “world’s banking experts” accept been architecture aplomb in the approaching of cryptocurrencies and blockchain technology.
Long added commented on Zhou and Dr. Song’s hirings:
Urban Tea, based in Hunan, China, was founded in 2024, and it’s currently listed in Nasdaq as MYT. As of columnist time, the company’s shares barter at $6.05, with a $45 actor bazaar capitalization. This action is their aboriginal crypto-related business fabricated over the company’s history.
Latest Tea Retailer’s Crypto Mining Venture Ended in a Disaster
There are some precedents of tea retailers abutting the crypto industry. Long Island Iced Tea Corp, addition about listed company, purchased 1,000 units of Antminer S9 bogus by Bitmain in 2018 to accompany the crypto mining business. Afterward, they rebranded the business to “Long Blockchain Corp.”
However, the adventure concluded in a disaster. Back Long Blockchain Corp acquired the crypto hardware, its stocks jumped by 500%. But mining’s affairs went to the debris back crypto’s bears appeared in February 2024.
When Long Blockchain Corp’s shares were delisted by Nasdaq, the aggregation additionally had to advertise its tea business.
The adventure didn’t end there, as the FBI and the Balance and Exchange Commission again launched an analysis over allegations of cabal trading and balance fraud.
What are your thoughts on Urban Tea’s announcement? Let us apperceive in the comments area below.
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