Crypto Tycoon Buys Yves Bouvier's Maximum Security Freeport in Singapore! | Crypto

Crypto Tycoon Buys Yves Bouvier’s Maximum Security Freeport in Singapore!

Chinese crypto billionaire Jihan Wu bought Le Freeport, art dealer Yves Bouviers maximum security freeport in Singapore, Bloomberg reports.
-Wu bought Le Freeport for $28.4 million, marking a loss for Bouvier, who spent $70 million constructing the facility in 2010.
-Bouvier has been haunted by a years-long legal battle with Russian oligarch and ARTnews Top 200 Collector Dmitry Rybolovlev, who alleges that Bouvier had scammed Rybolovlev out of $1 billion over the years after selling him 39 works at a highly inflated price.
-The Art Newspaper found that a previous deal to sell Le Freeport for a price of $60 million in 2019 fell through, possibly because of the bad press surrounding Bouvier.
-Wu is a major player in the world of crypto, having cofounded the worlds largest Bitcoin mining operation, Bitmain Technologies Ltd. Though Wu no longer controls Bitmain, he is the Chairman of Bitdeer, a cloud-mining service which is the sole shareholder of Straitdeer Pte., which owns Asia Freeport Holdings Pte. Both Asia Freeport and Le Freeport were reported to operate at a loss.

AP18315036150550 Crypto Tycoon Buys Yves Bouvier's Maximum Security Freeport in Singapore!

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