Pioneer Group, which invested in bitcoin mining giant Bitfury, said the business was in trouble

According to Sina Finance, China Financial Technology Corporation Pioneer Group (UCF), which invested in bitcoin mining giant Bitfury, said that the business "has encountered unprecedented difficulties and crises." Zhang Zhenxin, chairman of the group, issued an internal letter to all employees, saying that he has initiated a restructuring plan and reorganized assets with a number of asset management companies, brokerage firms, auction companies and property rights exchanges. According to the information, Pioneer Group has been in the financial technology and blockchain industries. Through the Hong Kong listed company Sino-Singapore (8207.HK) invested in Bitcoin mining giant Bitfury, it won the 6.38% stake in the latter. In December 2016, Pioneer's companies also announced the acquisition of a 51% stake in Vietnam's information technology services and personalized financial services solutions company Amigo Technologies. In addition, Pioneer Group has participated in the investment chain block start-up company quality gold service and blockchain technology company prime number chain network, the prime number of financial services for third-party payment, funds, banks, insurance and other financial formats provide financial technology services for the financial and Non-financial institutions provide core general ledger capabilities, fund clearing capabilities and trading services based on distributed technology, and claim that they have “liquidated more than 100 billion yuan for financial institutions” in the year following its establishment.