China, one of the most restricted countries in the world towards the cryptocurrency, may approach the adoption as a brand working locally from the Bitcoin reserve strategy.
DDC Enterprise, also known as Daydaycook, is a brand for consumers in the United States with roots and Hong Kong operations in China, Bitcoin (BTC) Reserve Strategy, CEO Norma Zhu Declare In the shareholders ’message on May 15.
As part of the strategy, DDC acquired 100 BTC for about $ 10.4 million and plans to collect 5000 BTC in the next 36 months, with 500 BTC targeting at the end of 2025.
The Bitcoin’s Chu reserves came after the company recorded an increase in revenue by 33 % in 2024, when the total revenue reached 273.3 million Chinese yuan (37.4 million dollars), According to To Form 20-F, its deposit with the US Securities and Stock Exchange Committee (SEC) on May 15.
DDC’s BitCOIN plans missed at SEC Records
Despite the general announcement, the latest SEC files in DDC explicitly do not remember Bitcoin or Bitcoin Reserve strategy.
“We start with a leading initiative to put DDC at the forefront of innovation of digital assets with the implementation that focuses on the laser on the accumulation of bitcoin.”
Previously Chu Declare DDC intentions to adopt a bitcoin reserve strategy in another message on March 18.
Although the DDC’s annual report does not mention Bitcoin backup plans, the SEC file provides hints for the adoption of the intended company from BTC as a new assets.
The company [DDC] The report said: “He evaluates strategies to obtain additional financing required for future operations,” the report said.
“The company plans to diversify revenue flows and implement measures to save costs to increase revenues and reduce expenditures. However, the company may be unable to reach more shares or debt financing when needed.”
In addition, the deposit indicates the encryption instructions determined by the update of accounting standards by the FASB Accounting Standards Council (FASB) Release In late 2023.
In December 2023, FASB Asu 2023-08 released, “unsuccessful, fame and other origins (350-60). Deposit notes and detection of encryption assets, adding that companies are allowed to start using new rules early if their financial reports are not published yet.
China’s sophisticated position on encryption
The DDC file says that the company is partially operating on the mainland of China and Hong Kong, which places its financial conditions and its growth under the influence of local political, economic and social developments.
As of May 2025, China has maintained a restricted agenda towards cryptocurrency and mining since 2021, when local organizers are It announced a great ban on encryption transactions.
Related to: The American -Chinese commercial deal may shed light on the use of Bitcoin: Trader
However, I have many online reports forecast China may raise its coded ban, amid increasing dependence in Hong Kong, as well The friendly approach to the US administration Under President Donald Trump.
However, some analysts have China’s plans were interrogated on the mainland To the “Bitcoin Decrease” despite the fact that it has one way or another A major international player remained in bitcoin mining Even after the prohibition age.
Cointelegraph is approaching DDC to comment on Bitcoin backup plans but did not receive a response to publishing time.
magazine: How Chinese traders and miners wander around the coding in China
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