2018-7-27 11:41 |
A $1 billion Chinese blockchain fund launched in April has denied a report that local government will pull out its originally planned funding support following a recently leaked recording involving a former partner of the fund.
A news report from China Business Journal on Thursday said the Hangzhou city government has required Xiong’An (or Grandshores) Blockchain Fund to stop promoting itself by using the name as a government-backed fund.
So far the government has allocated 30 million yuan (or around $4 million) for the project, the report said.
Yet, in the report, Li responded that the fund “is not suspended.”
Hours later on Thursday night, Grandshores Blockchain Fund also issued a statement to deny the report, saying they have not yet received any kind of suspension notice from the government.