Xiaomi Token Sale not Authorised by Xiaomi

[kreslik.news]

Blackmoon, a blockchain company from Russia, is selling a token pegged to the price of Chinese mobile phone company Xiaomi – but Xiaomi says that the connection is entirely one-sided.

Background

Xiaomi is a Beijing-based consumer electronics company founded in 2010. It has been China’s leading mobile phone brand since 2014 and is now is the world’s second largest manufacturer of smartphones. The company employs 15,000 people and CEO Lei Jun has a net worth of approximately $12.5 billion.

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It recently announced an initial public offering, which is when a company first puts its shares up ... (read more)