China News by Thebittimes.Com

Author | WuBlockchain This is a transcript of an interview from July 12, with minor edits and GPT processing. There may be several errors. The interviewers include WuBlockchain and other medias. The interview content represents the personal views of the interviewee and does not reflect the views of WuBlockchain. In 2014, you joined OK, and in 2017, you founded Binance. Ten years have passed, what are your thoughts? He Yi: What impressed me the most was when I first entered the industry. In 2013, the price of Bitcoin rose above $1,000, and I found it very exciting. It was also the first time I had a reflection on my life. I often asked myself why I joined this industry, giving up opportunities like working for Travel Satellite TV. It was because, for the first time, something made me rethink my life and what money truly is. Since childhood, our parents have always told us that money is important. When Bitcoin’s price rose above $1,000 in 2013, it gave me a huge shock. What exactly is m...

A British Virgin Islands court has stepped in to prevent Three Arrows Capital (3AC) founders Kyle Davies and Su Zhu from transferring or selling more than $1 billion in assets with creditors still chasing the collapsed fund’s owners for more than $3 billion. The announcement came one day after a domestic freezing order was issued by a court in Singapore. 3AC operated out of Singapore but filed for bankruptcy in the British Virgin Islands. According to a statement from 3AC’s liquidator Teneo, $1.4 billion in assets have been frozen while creditors are still owed somewhere in the region of $3.3 billion. Davies’ wife Kelly Chen has also been barred from moving assets. “The worldwide freezing order has been sought in connection with claims that are being pursued by the liquidators that allege, amongst other things, that the found ers should be held responsible for causing 3AC ’s position to deteriorate by an amount that is equivalent to the value of the freezing orders sought,” the sta...