- Moore Threads IPO sees massive gains, reignites past crypto debates.
- IPO launch ignites wider market, past controversies resurface.
- Li Feng controversies from crypto past gain fresh scrutiny.
On December 5th, MoreThread’s shares surged nearly 470% on its debut in Shanghai, while co-founder Li Feng’s controversial past in cryptocurrency resurfaces.
The event highlights China’s booming tech sector, but Li Feng’s crypto controversies could overshadow investor sentiment despite no immediate crypto market impact reported.
Moore Threads IPO Raises $1.1 Billion Amid Rapid Gains
Moore Threads, led by Zhang Jianzhong, listed on the STAR Market, marking a significant milestone in China’s tech industry. The IPO raised approximately 7.6 billion CNY, equivalent to about $1.1 billion USD. Shares surged approximately fivefold from the initial price, capturing market attention.
The resurgence of Li Feng’s historical controversies casts a shadow over the IPO’s success. The unresolved allegations, including a significant BTC loan dispute, are garnering renewed scrutiny, although Moore Threads’ official channels have not commented on these past events.
Market reactions were swift, with Moore Threads being labeled as “China’s Nvidia” by industry commentators. As of now, there are no discernible effects on crypto asset trading volumes or prices, despite the heightened focus on Li Feng’s historic crypto activities.
Li Feng’s Crypto Past and Potential Regulatory Challenges
Did you know? Despite controversies, Chinese tech equities often see strong investor interest due to national policy support, mirroring past enthusiasm during China’s semiconductor growth phases.
Ethereum (ETH) is trading at $3,046.48 with a market cap of approximately $367.70 billion and a market dominance of 12.05%, as per CoinMarketCap. Over the past 90 days, Ethereum’s price has decreased by 29.09%.
Ethereum(ETH), daily chart, screenshot on CoinMarketCap at 05:31 UTC on December 7, 2025. Source: CoinMarketCapCoincu research points out that while past ICO controversies may taint individual reputations, the tech sector’s robust growth often mitigates long-term impacts on capital markets. However, unresolved issues could lead to regulatory interventions, emphasizing the importance of transparent financial practices.
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Source: https://coincu.com/news/moore-threads-ipo-crypto-past/
