Ethereum<\/a> <\/strong>platform, and besides coming with trading capabilities on Renrenbit platform, the tokens can be used to offset transactional fees of OTC trading and crypto to crypto trading. For the latter, Renrenbit app is available for that task. Similarly, the tokens can be used as collateral for taking credit on Renrenbit platform.<\/p>\nWhile Zhao is busy finalizing arrangements for his platform, the fact that his firm is based in China raises some red flags. This is because Renrenbit might face some problems with Chinese regulators since China has a complete ban on cryptocurrency.<\/p>\n
With its successful public sale over and done with, Renrenbit has got additional funds onto of the $3 million it previously raised through its Series A round of funding. At the leading front of the funding, Renrenbit had Zhao’s DFund, Dragonfly Capital among other notable VCs as participants in the Series A funding round.<\/p>\n
\n","protected":false},"excerpt":{"rendered":"
Dong Zhao founder of Chinese startup firm Renrenbit is a happy man after selling 21 million Renrenbit tokens in under four hours after floating them for a public offering. Per details online, the tokens were floated at 1 USDT per token.<\/p>\n","protected":false},"author":4,"featured_media":15932,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70,74],"tags":[5001],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/15930"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=15930"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/15930\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/15932"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=15930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=15930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=15930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}