SHANGHAI, April 29, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG) (“Cango” or the “Company”), a rapidly expanding leader in Bitcoin mining, announced the initiation of coverage by Apollo Insights, an independent equity research firm.

Apollo Insights initiated coverage on Cango on April 22, 2025, following the release of its equity research report and investment thesis titled “Cango Catapults Into Bitcoin Mining”.

The equity research report highlights include:

• The Company has a market capitalization of $387.1 million
• The 12-month low and high for the Company’s stock is $1.33 and $8.00, respectively.
• Apollo Insights estimates that Cango’s fiscal 2025E revenue and adjusted EBITDA will reach RMB3,913.2 million and RMB665.6 million, respectively
• In fiscal 2026E, revenue and adjusted EBITDA are projected to reach RMB4,644.6 million (an 18.7% year-over-year increase) and RMB1,185.2 million (a 78.1% year-over-year increase), respectively.
• The firm attributes its favorable outlook for Cango to a supportive regulatory environment under the Trump administration and the potential for greater clarity in cryptocurrency regulations.

The initiation of coverage underscores Cango’s remarkable rise in the Bitcoin mining industry in a short time. The Company has developed its mining operation at a lower cost and reduced operational risks through strategic partnerships for acquiring Bitcoin mining equipment. This higher overall operating efficiency ensured the Company generated an average operating hash rate of 30.3 exahash/second (EH/s) in March 2025, placing Cango in joint second for the highest operating hashrate in the month.

The Company’s capital-light model has helped it accumulate holdings of approximately 2,475 Bitcoin as end-March 2025, valued at roughly US$211 million as of April 17, 2025. Cango has not sold any of its Bitcoin holdings yet. Overall, as of March 2025, Cango ranks as the fifth-largest Bitcoin mining player by deployed hashrate, achieving 32 EH/s in just four months. The report projects that its deployed hashrate will reach 42 EH/s by the end of FY25E.

Since entering the Bitcoin mining industry in November 2024, Cango has expanded its global footprint across strategic regions. Its mining operations now span the U.S. (38%), East Africa (37%), Oman (15%), Paraguay (9%), and Canada (1%).

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Click here to view Apollo Insights’ full equity research report and investment thesis on Cango.

About Cango Inc.

Cango Inc. (NYSE: CANG) primarily operates a leading Bitcoin mining business. Cango has deployed its mining operation across strategic locations including North America, Middle East, South America, and East Africa. Cango expanded into the crypto assets market in November 2024, driven by the development in blockchain technology, increasing prevalence of crypto assets and its endeavor to diversify its business. Meanwhile, Cango has continued to operate the automotive transaction service in China since 2010, aiming to make car purchases simple and enjoyable. For more information, please visit: www.cangoonline.com.

Media Contact

Juliet Ye
Cango Inc.
Tel: +86 21 3183 5088 ext.5581
Email: [email protected] 

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VICTORIA, Seychelles, April 29, 2025 /PRNewswire/ — MEXC, a leading cryptocurrency exchange, witnessed impressive growth throughout 2024, with its global user base soaring to 36 million and trading volumes surging across the board. The platform recorded a 143% increase in Spot trading volume and a 118% jump in Futures trading volume, reflecting its rising dominance in the digital asset space. As MEXC celebrates its 7th anniversary, it has not only weathered the challenges of a highly competitive industry but has firmly positioned itself as one of the top-performing exchanges worldwide—driven by innovation, scalability, and user-first service.

Key Highlights:

• Spot Trading Volume: +143% YoY
• Futures Trading Volume: +118% YoY
• Market Share: Jumped from 2.4% in 2023 to 13.06% in Q1 2025
• User Base: Reached 36 million globally
• Listed Assets: Over 3,000
• Employees: Doubled to 2,000+
• Recovered User Assets: Over $1.8 million
• Customer Service Tickets Resolved: 1.1 million+

Unprecedented Trading Volume Growth: Dominating Market Share

MEXC has demonstrated exceptional performance in its core trading business, with remarkable growth metrics that reflect its increasing dominance in the cryptocurrency exchange landscape. According to the latest data, the platform achieved an impressive 143% growth in Spot trading volume and a substantial 118% increase in Futures trading volume over the past year.

According to TokenInsight’s industry report, MEXC’s market share surged from 2.4% in 2023 to 11.6% in 2024, and further increased to 13.06% in 2025 Q1. The CoinGecko Q1 2025 report also highlighted MEXC’s expanding market presence and growing influence in the global cryptocurrency exchange ecosystem, noting its leap into 3rd place in terms of futures trading volume.

This impressive growth is well above the industry average, showing that more and more traders are choosing MEXC for its strong trading tools. With high liquidity, low fees, and reliable performance in both Spot and Futures markets, the platform continues to attract a wide range of users—from everyday investors to major institutions.

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36 Million Users and Counting: MEXC’s Global Expansion

In a testament to its expanding influence, MEXC has witnessed phenomenal user adoption over the past year. The platform welcomed an impressive number of new users, significantly expanding its ecosystem. This substantial influx has propelled the exchange to reach a cumulative user base of 36 million globally.

This rapid growth isn’t just about the numbers—it shows that millions of people and institutions are choosing to trust MEXC for its reliable infrastructure, strong security, and quality service. The platform’s success in gaining and keeping users from around the world highlights its broad appeal and the increasing trust it’s earning from crypto enthusiasts, traders, and investors everywhere.

Strategic Organizational Expansion: Scaling with Purpose

Understanding that technological innovation is driven by human talent, MEXC has undertaken a strategic workforce expansion, nearly doubling its staff to 2,000 employees. This deliberate scaling has focused on strengthening three critical operational pillars:

1. Growth Center – A specialized division dedicated to accelerating user acquisition, enhancing platform adoption strategies, and exploring new market opportunities. This team spearheads MEXC’s expansion into emerging cryptocurrency markets while strengthening its position in established ones.

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2. R&D Center – The innovation engine of MEXC, where talented engineers and developers work tirelessly to enhance the platform’s technological infrastructure, develop cutting-edge features, and implement security protocols that safeguard user assets. The R&D team’s commitment to excellence ensures that MEXC remains at the technological vanguard of the crypto exchange landscape.

3. Business Support – The operational backbone ensuring seamless platform functionality, superior customer experience, and efficient business processes. This division works behind the scenes to maintain the high standards of service that users have come to expect from MEXC.

Diverse Asset Offerings with Reward Programs

MEXC continues to enhance its position as a versatile and comprehensive trading platform, offering sophisticated Spot and Futures trading services that cater to both novice and experienced traders. The exchange has significantly expanded its asset portfolio to include an impressive 3,000+ listed assets, providing users with unparalleled diversity in trading options across various cryptocurrencies, tokens, and digital assets. This extensive listing strategy reflects MEXC’s commitment to offering users access to emerging projects and established cryptocurrencies alike, creating a dynamic marketplace where traders can diversify their portfolios and capitalize on market opportunities.

Complementing this diverse asset ecosystem, MEXC has implemented one of the industry’s most comprehensive reward programs, successfully orchestrating 2,293 airdrop events through its innovative token airdrop program, distributing a substantial prize pool valued at $136 million. These strategic initiatives serve multiple purposes: rewarding loyal users, incentivizing platform participation, and introducing the community to promising new projects. By consistently sharing value with its user base while maintaining robust liquidity and advanced trading infrastructure, MEXC has cultivated a culture of reciprocity and mutual growth that strengthens user loyalty and platform advocacy.

Thriving Community: Nurturing Global Connections

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MEXC’s vibrant community continues to flourish across multiple social platforms, with its X account followers almost doubling to 2.25 million. This substantial social media presence amplifies the exchange’s voice in cryptocurrency discourse and facilitates direct engagement with users and stakeholders.

Complementing its social media presence, MEXC’s Telegram ecosystem has expanded to include 193,000 members across various groups, creating dynamic spaces for real-time discussions, market insights, educational content, and peer support. These community hubs foster a sense of belonging among users while serving as valuable channels for information dissemination and feedback collection.

The robust growth of MEXC’s community ecosystem reflects the platform’s success in transcending its role as a mere trading venue to become a vibrant hub for cryptocurrency enthusiasts and professionals worldwide.

Customer-Centric Service: Setting Industry Standards

MEXC’s unwavering commitment to customer satisfaction is evidenced by its responsive and resourceful customer service team, which has successfully addressed over 1.1 million customer service requests in the past year. This volume underscores both the scale of MEXC’s operations and its dedication to providing timely assistance to users navigating the complexities of cryptocurrency trading.

Beyond routine support, MEXC’s customer service team has demonstrated exceptional value by helping users recover over $1.8 million in assets that might otherwise have been lost due to user errors, technical issues, or misconceptions. This recovery effort exemplifies MEXC’s proactive approach to customer service and its genuine concern for user welfare beyond transactional relationships.

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The quality and effectiveness of MEXC’s customer service infrastructure set new benchmarks for the industry, reinforcing user confidence and contributing significantly to the platform’s reputation for reliability and trustworthiness.

Looking Ahead: Charting the Course for Future Growth

Behind the impressive growth figures lies the comprehensive result of MEXC’s ongoing investment in core trading infrastructure, rapid asset listings, enhanced user experience, and region-specific strategies. MEXC has evolved from its former position as a market follower to establish itself firmly among the world’s elite cryptocurrency trading platforms, demonstrating leadership through innovation and consistent performance excellence.

As MEXC embarks on its eighth year, the exchange stands poised for continued innovation and market leadership. Built on a foundation of user trust, technological excellence, and community engagement, MEXC is strategically positioned to navigate the evolving cryptocurrency landscape.

The impressive metrics across all business areas highlight MEXC’s successful execution of its strategic roadmap and adaptability in a dynamic industry. With its proven track record and clear vision, MEXC remains committed to providing a secure, efficient platform for cryptocurrency enthusiasts worldwide, continuing to shape the future of digital finance.

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About MEXC

Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 36 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

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Blockchain and cryptocurrency continue to evolve at breakneck speed, with price surges, geopolitical alliances, regulatory battlegrounds, ethical debates, and landmark legal rulings all unfolding within days of one another. In today’s roundup, we examine five pivotal developments:

1. Bitcoin Nears Six Figures – Santiment predicts BTC could hit $100,000 in the next fortnight.

2. Pakistan’s Crypto Push – Trump-backed World Liberty Financial inks a landmark MoU with the Pakistan Crypto Council.

3. U.S. Anti-Scam Legislation – Bipartisan GUARD Act would arm law enforcement with blockchain tracing tools against “pig butchering” fraud.

4. Ethics Under the Microscope – A deep dive into privacy, transparency, and security trade-offs in modern blockchain systems.

5. Regulatory Clarity Down Under – Australia’s Full Federal Court rules that Block Earner’s fixed-yield product isn’t a “financial product,” overturning ASIC.

Together, these stories illustrate four key trends shaping Web3 today:

• Market Psychology Meets On-Chain Data: Investor sentiment, as tracked on-chain, now drives price forecasts as much as macroeconomic indicators.

• Public-Private Alliances: From Islamabad to Washington, partnerships are expanding blockchain’s reach into national agendas.

• Ethics & Governance: As blockchain pervades finance and society, debates over privacy versus transparency demand new frameworks.

• Legal & Regulatory Evolution: Court precedents and legislation are rapidly defining what constitutes regulated financial activity on-chain.

Below, we unpack each story in detail—providing concise summaries, opinion-driven insights, and context on why these developments matter for DeFi architects, NFT entrepreneurs, compliance officers, and everyday crypto users alike.

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1. Bitcoin on the Cusp of $100,000? Santiment’s Bullish Outlook

Summary
Blockchain analytics firm Santiment has flagged a steep uptick in on-chain and social metrics suggesting Bitcoin could surpass $100,000 within one to two weeks. Key observations include:

• Greed Index Surge: Social media sentiment shows a 2.1:1 ratio of bullish to bearish Bitcoin commentary, the highest since early 2021.

• Whale Accumulation: Large-scale addresses have increased their holdings, poised to absorb any retail-driven sell pressure around $95,000.

• Equities Decoupling: A weakening correlation with S&P 500 movements could free BTC price action to run independently.

As of April 28, BTC traded near $94,500—up 1.5% over 24 hours—setting the stage for a potential six-figure breakout. Source: Bitcoinist

Analysis & Opinion
Santiment’s data-driven approach underscores how Web3 metrics have migrated from niche analytic platforms to core inputs for institutional strategy desks. The high “greed” level signals FOMO—a double-edged sword that can accelerate rallies but also precipitate sharp corrections if profit-taking intensifies. Notably, whale accumulation suggests a medium-term bullish bias, yet history warns that significant profit-booking around round numbers (e.g., $100K) can trigger retracements.

For DeFi protocols and crypto funds, this moment demands calibrated risk management: locking in gains via hedging products, ensuring liquidity buffers, and avoiding emotional trading. Meanwhile, retail platforms should brace for surges in trading volume and account sign-ups, reinforcing the importance of robust blockchain security and user-education initiatives.

2. Pakistan Crypto Council Partners with World Liberty Financial

Summary
On April 26, the Pakistan Crypto Council (PCC) signed a landmark Letter of Intent with World Liberty Financial (WLF)—a U.S.-based DeFi platform backed by former President Donald Trump—to accelerate blockchain innovation and stablecoin usage in Pakistan. Highlights:

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• Regulatory Sandboxes: Frameworks for testing DeFi products and tokenized assets (real estate, commodities).

• Stablecoin Remittances: Pilot programs for cross-border money transfers targeting Pakistan’s $300 billion annual crypto corridor.

• Strategic Advisory: WLF to guide government on global compliance trends and infrastructure.

The MoU was endorsed by Pakistan’s Finance Minister, SECP Chairman, and State Bank Governor, signaling imminent comprehensive crypto legislation. Source: Dawn

Analysis & Opinion
This partnership blends geopolitical outreach with economic stimulus: Pakistan’s youthful demographic (64% under 30) and high mobile penetration make it fertile ground for Web3 adoption. By embedding regulatory sandboxes, the PCC balances innovation with consumer safeguards—an approach that many emerging markets view as best practice.

However, tying DeFi initiatives to high-profile political backers can be a double-edged sword. While it draws global attention and investment, it also raises concerns about long-term policy stability and brand risk should political fortunes shift. For blockchain projects eyeing expansion in South Asia, the PCC-WLF model offers a blueprint: engage regulators early, co-design pilot programs, and anchor projects in clear governance.

3. Bipartisan GUARD Act to Leverage Blockchain Against Fraud Scams

Summary
On April 21, a bipartisan group of U.S. Representatives introduced the Guarding Unprotected Aging Retirees from Deception (GUARD) Act, empowering federal grants for state and local law enforcement to use blockchain tracing tools against finance scams—especially “pig butchering,” which accounted for over 33% of crypto scam revenue in 2024. Key provisions:

• Grant Funding: Eligible law enforcement agencies may apply for federal funds to deploy blockchain analytic platforms.

• Interagency Cooperation: The FTC, DOJ, and FBI can assist local authorities in on-chain investigations.

• Public Awareness: AARP partnership to educate seniors on recognizing and reporting scams.

The bill is co-sponsored by Reps. Zach Nunn (R-IA), Scott Fitzgerald (R-WI), and Josh Gottheimer (D-NJ). Source: CoinGeek

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Analysis & Opinion
The GUARD Act represents a maturation in the regulatory embrace of blockchain—shifting from finger-wagging skepticism to proactive toolset integration. By equipping local agencies with on-chain forensics, the bill acknowledges blockchain’s unique transparency advantage in tracing illicit flows. Yet, success hinges on standardized training curricula and privacy-preserving protocols to prevent overreach.

Critically, the legislation sets a precedent for leveraging public ledgers as law-enforcement assets, raising broader questions about data sovereignty and civil liberties. Future discussions will need to address how to anonymize sensitive data while retaining investigative efficacy—an area ripe for innovation in zero-knowledge proofs and selective disclosure technologies.

4. The Ethics of Blockchain: Privacy vs. Transparency vs. Security

Summary
In a comprehensive overview, The Shib Daily explores the enduring tension at the heart of blockchain ethics: balancing privacy, transparency, and security. Core takeaways:

• Privacy Paradox: Pseudonymity shields user data yet can facilitate money-laundering via mixers like Tornado Cash. Emerging solutions include zk-SNARKs and selective disclosure.

• Transparency Dilemma: Public ledgers bolster trust and accountability (e.g., DAOs), but can inadvertently expose individual transaction patterns. Graduated transparency models seek a middle ground.

• Security Imperative: Open-source code invites scrutiny and innovation but also widens the attack surface—as the 2016 DAO hack famously illustrated. Robust governance frameworks are essential for rapid response.

• Looking Ahead: Trends such as decentralized identity, AI-powered compliance, and values-based protocol design will shape the next wave of ethical blockchain systems. Source: The Shib Daily

Analysis & Opinion
As blockchain integrates with DeFi, NFT marketplaces, and Web3 social platforms, the ethics conversation is no longer academic—it’s a business imperative. Protocol designers must bake in privacy-enhancing features without sacrificing auditability. Regulators, in turn, should foster self-regulatory organizations (SROs) that can iterate faster than one-size-fits-all statutes.

Moreover, embedding human rights by design and inclusive governance will become key differentiators for projects seeking mainstream legitimacy. In practice, this means multi-stakeholder governance councils, transparent upgrade processes, and clear redress mechanisms for users harmed by security breaches or governance missteps.

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5. Australia’s Full Court Clarifies Yield-Generation Is Not a “Financial Product”

Summary
On April 28, the Australian Federal Court’s Full Bench overturned a 2024 ruling against Block Earner (Web3 Ventures Pty Ltd), finding that its fixed-yield “Earner” product does not constitute a regulated financial product. Highlights:

• AFSL Exemption: Block Earner was not required to hold an Australian Financial Services Licence (AFSL) for its fixed-yield offering.

• Regulatory Scope Narrowed: The decision distinguishes a product’s legal structure from its economic function when assessing licensing requirements.

• Industry Impact: ASIC must cover legal costs, and DeFi projects can reconsider paused yield offerings.

Fintech and blockchain lead John Bassilios commented that this judgment “provides more clarity and may encourage businesses to revisit product offerings previously paused due to regulatory risk.” Source: Australasian Lawyer

Analysis & Opinion
This ruling marks a watershed moment for DeFi platforms operating in regulated jurisdictions. By focusing on the legal characterization of products rather than their yield-generation mechanics, the Full Court offers a template for structuring future offerings—potentially reducing compliance costs and accelerating innovation.

However, projects must proceed with caution: the decision may not extend to variable-yield or tokenized asset schemes without clear legal wrappers. Legal teams will need to collaborate closely with compliance officers to craft modular product architectures that can adapt swiftly as regulators elsewhere (e.g., the EU’s MiCA framework) set new standards.

Conclusion: Synthesizing Today’s Takeaways
Today’s blockchain headlines underscore a multifaceted reality:

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1. Market Rhythms & On-Chain Signals: Data-driven tools like Santiment are now indispensable for anticipating volatile price moves.

2. Global Adoption Models: Public-private partnerships—from Pakistan’s innovation hub to U.S. law enforcement—demonstrate blockchain’s versatility across contexts.

3. Ethical Imperatives: Balancing privacy, transparency, and security remains a moving target, requiring continuous protocol refinement and inclusive governance.

4. Regulatory Clarity Fuels Innovation: Court decisions in Australia and proposed U.S. legislation illustrate how legal frameworks can both enable and constrain DeFi growth.

For blockchain builders, investors, and policymakers, these developments offer clear action items:

• Embrace Data-Driven Decision-Making: Integrate on-chain analytics into trading, risk, and compliance workflows.

• Forge Strategic Alliances: Collaborate with governmental bodies and standards organizations to pilot responsible Web3 initiatives.

• Prioritize Ethical Design: Embed privacy-enhancing and security-first features from the ground up, with mechanisms for community oversight.

• Stay Legally Agile: Monitor evolving case law and legislation, and structure products to fit within—and adapt to—regulatory boundaries.

As blockchain continues its journey from fringe experiment to foundational infrastructure, today’s stories remind us that technology, policy, and ethics must advance hand in hand. Whether you’re fine-tuning a yield-farm, drafting a compliance roadmap, or debating zk-SNARK implementations, the imperative is clear: build responsibly, innovate boldly, and shape a Web3 ecosystem that’s as secure and inclusive as it is transformative.

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