Share this article
Bitmain Co-Founder Wu Says Regulatory Pressure Is Healthy for Crypto: Report
The higher level of interest will benefit the reputation of crypto overall, he said.
Updated Sep 14, 2021, 1:24 p.m. Published Jul 13, 2021, 11:23 a.m.
Make us preferred on Google
Pressure from regulators will benefit crypto in the long term because it weeds out bad actors, Bitmain co-founder Jihan Wu told CNBC.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Interviewed at the Asia Tech x Singapore conference, the crypto billionaire said that while regulatory pressure has increased, the higher level of interest will benefit the reputation of crypto overall, according to CNBC.
The world's biggest economies are ramping up regulatory scrutiny of the industry: China is cracking down on mining; the U.S. is signaling taxes for crypto; and India is trying to track and control its industry.
Wu didn't say whether he was talking about regulation in China only or speaking about the global trend.
Wu co-founded Bitmain, the world's largest crypto mining rig maker, with Zhan Ketuan, but stepped down after a dramatic quarrel with his co-founder. He now leads Matrixport, a Singapore-based crypto financial services firm. Forbes estimated his net worth at $1.8 billion in September.
Read more: State of Crypto: Federal Regulations Are Coming Into Focus
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Metplanet valued at three-month high relative to bitcoin holdings after MSCI decision
Select bitcoin treasury equities gained after MSCI removed near-term index exclusion risk.
What to know:
- Metaplanet’s multiple to net asset value (mNAV) rose to around 1.25, its highest level since before the October liquidation crisis.
- The move followed MSCI’s decision not to exclude digital asset treasury companies from its global indexes.
- Strategy (MSTR) rose around 5% in pre-market trading while price action across other bitcoin treasury companies remained relatively muted.
Top Stories
