Chinese mogul buys a stake in cryptocurrency stock exchange

Almaty. December 21. Silkroadnews - Chinese mogul buys a stake in cryptocurrency stock exchange, the New York Post reported.
“One of China’s biggest business and entertainment moguls has bought a 27 percent stake in the Delaware Board of Trade, a company operating one of the newest stock exchanges in the country. The move is part of a push by Bruno Wu to start trading bitcoin-like securities,” the report said.
According to the agency, Wu’s Seven Stars Cloud has invested $2 million into a new exchange.
The deal was concluded a few months after another Chinese company Chongqing Casin Enterprise Group began negotiations on purchase of the Chicago Stock Exchange only to have the federal regulators suspended the approval of the transaction.
Lawmakers called on the Securities and Exchange Commission to end the Chicago deal in earlier this year, saying they did not have enough information about the buyers.
Wu, 51, is one of the richest businessmen in China, he is called Mr. Chinawood (by analogy with the word “Hollywood”) for his investments into entertainment industry, including a partnership with the executive producer of “Spider-Man” Avi Arad.
According to sources, at the beginning of the year Wu’s company “gave a private investment presentation to bankers at Cowen & Co. earlier this month, is tip-toeing into the world of trading currency like bitcoin and other crypto-assets.”
Last year, Wu bought a majority stake in a YouTube-like company called YOU On Demand, which belonged to the star of World Wrestling Entertainment and professional wrestler Shane McMahon, son of WWE founder Vince McMahon and his wife, Linda McMahon, head of the Small Business Administration.
It is reported that Seven Star will deal with the sale of digital assets, which can be transferred to the digital currency.