Monday’s Edition Of Bitcoin In Brief

  • Caixin, thye Chinese media outlet, has reported that, the Beijing-headquartered bitcoin mining machines (ASIC chips) producer, Bitmain Technologies Ltd., has raised $400 million in its latest fundraising round, valuing the company at $12 billion. Sequoia Capital, the venture capital firm with the headquarter located in Menlo Park, California, and the New York based tech sector hedge fund Coatue and EDBI Pte Ltd., all led Bitmain Tecnologies Ltd’ B round of fundraising.

Sources close to the deal revealed that EDBI Pte Lted., is a private equity and venture capital section of Singapore Economic Development Board. It is possible that bitcoin seeks a massive initial public offering (IPO) on the Hong kong stock market.

  • In US, recently, there is an increased competitive level in the crypto trading market. HBUS, the newly opened exchange in the US, is a strategic partner of Huobi. It has begun accepting new user registrations on July 6th. Users can deposit BTC, BCH, ETH, ETC, LTC, USDT, CVC, DASH and TUSD. Tomorrow July 10th, the actual marketplace will go live tomorrow, and users will be able to trade and withdraw funds.. HBUS does not yet serve residents in Alabama, Connecticut, Georgia, Louisiana, New York, North Carolina, Hawaii, Vermont and Washington.

Frank Fu, CEO of HBUS commented and said, “our strategic partner, Huobi, has grown to be the largest digital asset marketplace globally. As investors‘ acceptance of virtual currency and digital asset increases, we have seen incredibly high demand in the U.S. We are excited to launch as Huobi’s strategic partner, to serve the growing number of people participating in virtual currency trading.”

  • Binance has announced it donated $1 million to Japanese flood victims. Being the leading cryptocurrency exchange, it is expecting to make a net profit of up to $1 billion this year. The company stated that “To help out the victims in West Japan that were affected by the heavy rains on 7/7/2018, Binance is donating $1,000,000 USD and calling for our crypto friends and partners to join us in the relief initiative.” Japanese agencies in the field revealed that the death casualties in the western part of the country reached 112 on Monday. A lot of people are still missing after homes, disabled infrastructure were destroyed by floods and landslides.. about 23,000 people flew to evacuation centers.
  • Vitalik Buterin said, “I definitely hope centralized exchanges go burn in hell as much as possible.” This his manner of expressing a deep and profound hatred for the business model governing the current crypto trading ecosystem. The ethereum founder raised a particular issue, which is to know how the centralized platforms can extract as much as $25 million from projects that want to list their ICO tokens. Buterin says that crypto-only exchnages are better for venues trhat offer fiat pairs as “the fiat world only has centralized gateways.” Apparently, he is not a big fan of Bitmain and its growing power. He said at a Techcrunch event that, “Back in 2013, when GHash had 51 percent everybody freaked out. It’s happening a second time and people aren’t really talking about it this much.”



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