The secret of QTUM / hidden partnership with alibaba and bitmain
The reason why I started looking more into this new cryptocurrency exchange platform was because its exchange volume on ‘cointmarketcap.com’ seemed different from the others.
While each country has different preference in types of coin, on general platforms, it is apparent that there’s the trend that the share of major coin exchange volumes are similar among them.
Lbank’ is a new platform established in September, 2017.
The exchange volume of top 6 coins on Lbank on 4/22 was the following
You can notice that there is no Bitcoin or Ethereum on their top exchange volume coin list. “Is it normal cryptocurrency exchange platform? (Take a note of exchange volumes of ‘Quantum in rank 2 and 6 and ‘bitcoin Cash’ in rank 3,4, and 5)
It seems very suspicious, so I tracked the domain and checked their domain server information
Lbank IP address 47.52.163.9
and with the IP address, I was able to check its hosting server.
It’s been hosted by Alibaba.com LLC, a server hosting subsidiary of Alibaba Group located in America.
Alibaba.Com LLC
400 S EL CAMINO REAL STE 400
SAN MATEO, CA, 94402–1741 United States
(408) 785–5580
Company Type: Subsidary
What is weird doesn’t end here.
This is exchange volume ranking of Quantum on 4/22.
If you remember, Quantum was in bull market for last December and January. 80% of its exchange happened in Upbit and Bithum while Lbank didn’t even make to the list.
It shows that the rank 1 and 2 are Lbank, and the exchange volume in Lbank is about 31% (It was 60% on 4/18).
About quantum
Ceo of quantum is ‘patrick Dai’
As you might have already known, Patrick, the creator of Quantum used to be in charge of design, developing and operation in Alibaba until he heard of Bitcoin and created Quantum after he studied blockchain technology.
In addition, there have been rumors like ‘Quantum may collaborate with the most popular messenger app in China’ and ‘Quantum has been contacted by Alibaba and Tencents’.
Also,
Quantum platform based cryptocurrency, ‘Bodhi’
Is it a coincidence?
There are only few platforms Bodhi is being exchanged on, and, again, Lbank has the most exchange volume of 76.53%.
There is another evidence:
The Bitcoin cash that made exchange volume rank 3, 4 and 5 (34%)on Lbank is owned by Jihan Wu, the CEO of Bitmain.
Bitmain and Alibaba group are in very close partnership.
For example, Bitmain mining pool names are the followings: ‘ANTMINER T9+ / ANTMINER X3 / ANTMINER E3’
These names include ‘ANT’ which symbolize ANT Group, a subsidiary of Alibaba, and also, its mining pool is called ANTPOOL.
An article from 4/19, “Alipay adopted blockchain technology”
Geoff Jiang (蒋国⻜⻜), vice-president of Ant Financial confirmed that they’re going to use blockchain technology for AliPay Donation platform and expand the usage to other services as well.
The article states that Ant Financial, a subsidiary of Alibaba Group is going to adapt blockchain platform (Quantum?).
In these days, Chinese government restricts companies to go into blockchain business. Several cryptocurrency exchange platforms had to move to Hong Kong from the mainland, and now they are moving to Malta. This is why Alibaba Group is unable to reveal the cooperative relationship with Bitmain and Quantum, and Lbank plays a core role here.
Chinese government pretended they’re restricting the businesses to go for blockchain technology outside, however, it seems that internally they were actually supporting them.
There were two rumors going around in cryptocurrency community that “Patrick Dai of Quantum and the president of Okay Coi
n were called in by the Chinese Communist Party and were suggested to turn in their resources to the Government” and “Patrick attended Shanghai Future Technology forum held by Baidu on 3/19 as a guest, and mentioned that they’re collaborating with Baidu and Wanxiang Group to build a Quantum platform based smart city under the Government support. Rumor about smart city has been going around for a while, but
that was the first time the actual names of the company and the Government were clearly mentioned. After the news spread, Chinese influencers conducted market sweep through Korean cryptocurrency exchange platforms”.
This was the reason why Quantum massive pump coming soon.
