- Moore Threads Technology Co. IPO surged 470% in Shanghai.
- Controversies about co-founder Li Feng have resurfaced.
- Despite allegations, market confidence in the company remains robust.
Moore Threads Technology Co.’s stock surged nearly 470% on its debut on the Sci-Tech Innovation Board, reflecting strong market enthusiasm in Shanghai.
The surge highlights investor interest, but past controversies linked to Li Feng could impact perceptions, despite lacking primary-source verification.
Moore Threads’ IPO Soars by 470% Despite Li Feng’s Past
The successful IPO of Moore Threads Technology Co. represents a pivotal moment for the semiconductor and AI hardware firm on the Sci-Tech Innovation Board. Despite the absence of Li Feng as an official executive, his past in the cryptocurrency industry has resurfaced to public prominence. While Li Feng’s alleged connection to the “Malle Go Coin (MGD)” ICO of 2017, which reportedly raised about 5,000 ETH, remains unverified through primary sources, secondary media have circulated these claims widely.
The controversies surrounding Li Feng include allegations of an unpaid 1,500 BTC loan from 2014, allegedly extended until 2017, only to result in a default. However, without primary confirmation, regulatory bodies have not imposed any public sanctions. Despite these contentious claims circulating, Moore Threads’ stock reflected investor confidence, with market values exceeding 300 billion yuan.
Zhang Jianzhong, CEO, Moore Threads Technology Co., remarked, “The over 400% jump in our stock reflects strong investor confidence in our future growth as we lead the charge in AI hardware.” Bloomberg
Unverified Claims Surrounding Co-Founder Fail to Sway Market
Did you know? Li Feng’s alleged 2014 BTC loan controversy, still unresolved, highlights the legal complexities of cross-border virtual asset agreements in the early crypto era.
According to CoinMarketCap data, Ethereum (ETH) trades at $3,120.04 with a market cap of $376.57 billion, dominating 12.16% of the market. Its 24-hour trading volume is $18.18 billion, displaying a 2.54% price increase despite a 9.96% dip over the last 30 days.
Ethereum(ETH), daily chart, screenshot on CoinMarketCap at 21:31 UTC on December 7, 2025. Source: CoinMarketCapExperts from Coincu suggest that the unverified controversies do not seem to affect Ethereum’s recent performance. The lack of primary source verification emphasizes the unpredictability of market reactions tied to alleged disruptions, signaling a complex relationship between market trends and historical anomalies in cryptocurrency.
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Source: https://coincu.com/markets/moore-threads-ipo-surge-controversies/
