Crypto Exchange Coinbase Decides to Withdraw Its ‘BUIDL’ Trademark Application

Major United States-based cryptocurrency exchange and wallet service Coinbase has withdrawn its application to trademark the term “BUIDL.” The official status of the application was changed to “abandoned” on Wednesday, Dec. 19,  according to the U.S. Patent and Trademark Office’s (USPTO) website.

According to the USPTO’s records, the trademark application is no longer active due to Coinbase filing an express abandonment on Dec. 14.

Coinbase first filed an application to trademark the term “BUIDL” on Oct. 2. The intentionally misspelled word “buidl” refers to a cryptocurrency community concept that implies building products as a way to support the industry, as opposed to just holding cryptocurrencies as an investor.

The term is analogous with the well-established crypto community term “hodl,” which means holding cryptocurrency instead of selling it, regardless of price movements.

Following reports about Coinbase’s bid to trademark “BUIDL” in early December, the company’s Chief Technical Officer, Balaji S. Srinivasan, has called it a “100 percent defensive filing,” specifying:

“…the team had no intention to prevent the community from using it. There had been thought of a feature named Coinbase BUIDL and they didn’t want to attract patent trolls for a common term.”

The trademark application has sparked negative reactions on Twitter, with some in the crypto community claiming that the term “BUIDL” was already widely used before Coinbase’s filing.

Since Dec. 10, Coinbase has been rolling out new offerings and initiatives as part of its “12 Days of Coinbase” promotional campaign named in reference to a traditional Christmas song. On Dec. 14, the exchange introduced fiat withdrawals to payment service PayPal, while on Dec. 17 the exchange launched its new “Convert” service. The new feature allows customers to convert between Bitcoin (BTC), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), 0x (ZRX) and Bitcoin Cash (BCH).



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Ledger to Accept Crypto Payments Following MoU With Hong Kong Startup

Crypto hardware wallet supplier Ledger has signed an agreement with crypto payment startup Crypto.com to allow users to pay for its products with crypto, according to a press release shared with Cointelegraph on Dec. 19.

Hong Kong-based Crypto.com has reportedly signed a Memorandum of Understanding (MOU) with Ledger that will enable Ledger to adopt their service Crypto.com Pay. The payment platform will purportedly allow Ledger clients to pay for products with cryptocurrency.

Crypto.com Pay will purportedly be incorporated into Ledger’s online store, where customers will able to make purchases via Crypto.com Wallet and Card application.

While the press release does not specify which cryptocurrencies will be supported by the new payment solution, Crypto.com’s Wallet features seven fiat currencies and six cryptocurrencies, according to their website.

According to Crypto.com Medium, the wallet supports Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Litecoin (LTC), as well as Binance Coin (BNB), Monaco (MCO), and its own Crypto.com Chain token (CRO).

Ledger CEO Éric Larchevêque stated that introducing a crypto payment option for products purchases is a “natural step,” and this payment method is “just what [Ledger] customers are seeking.”

Ledger recently opened a new office in New York to develop its institution-targeted custody offering called Ledger Vault. Ledger appointed former Intercontinental Exchange (ICE) executive Demetrios Skalkotos to lead global business unit operations for the project.

In November, Ledger added support for privacy-focused altcoin Monero (XMR) to its Nano S wallet device, having previously resumed support for Bitcoin Cash (BCH), following a suspension of service in mid-November.



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The Crypto Donations Continue! Vitalik Buterin Donates $300K

Crypto donations are not new. They weren’t in 2017, the year of the crypto boom, nor are they in 2018. But each time they happen, whether it’s donations in cryptocurrencies or fiat currencies, it’s proof that not everyone in the crypto space is there for only themselves.

Vitalik Buterin (age 24), the creator of Ethereum, was the latest to make a donation. 

Crypto Donations Continue

Back in May of 2018, Ashton Kutcher, alongside Ripple, donated $4 million to the Ellen Wildlife Fund. In June, Ripple gave a whopping $50 million to universities in the United States. Following the destructive floods that hit West Japan in mid-July, Binance (the largest crypto exchange in the world) called for crypto donations. They were intended to provide relief for those affected. Then in August, Ripple was back at it again, partnering with Madonna to raise funds for the Malawi Orphanage.

This week we have seen more crypto donations, this time coming from Vitalik Buterin. The decision to make these donations came out of various threads on Twitter. You can find them on Buterin’s page. Here is one the responses:

The Recipients 

The recipients of the $300,000 in cryptocurrency Buterin donated this week include Prysmatic Labs (see tweet above), Sigma Prime, and ChainSafe Systems. All three are blockchain startups.

>> Ripple (XRP) and Bitcoin Cash (Bitcoin ABC) Surge!

The Takeaway

Even if you are skeptical of crypto donations, or perhaps even Vitalik Buterin, who has been at the center of a few scandals (like when he said he was against Apple), it’s nice to see people in the same space helping others. And to do it in December, well, it looks like Christmas came early for Sigma Prime, Prysmatic Labs, and ChainSafe Systems. 

What do you think of Buterin donating $300 thousand in crypto? Do you think it will help these startups achieve their goals in the new year? Let us know what you think in the comments below! 

Featured Image: Depositphotos/aa-w

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Bitcoin Price Rejects Doji as US Session Take Charge, Rises 8%


Bitcoin price on Tuesday was looking to correct lower after forming a Doji candlestick. But the US session somewhat saved the day.

The Bitcoin/Dollar rate on Wednesday has extended its upside momentum, rising circa 8% on a 24-hour timeframe, according to CoinMarketCap.com. The pair today established a fresh intraday high towards 3927-fiat on Coinbase during the mid-European session after finding more firm support in 3450-3500 area. Reminding that it isn’t exactly a dream bull run yet – not unless bitcoin price surpasses key resistance areas lurking at its 50-period and 100-period moving average resistances on a daily chart.

BITCOIN/DOLLAR 1D CHART | SOURCE: COINBASE, TRADINGVIEW.COM

The Bitcoin/Dollar price upside action reignited during a US session that somewhat drags the performance of the US Dollar into the picture. The greenback fell against its significant quoted assets on Wednesday in another response to the Fed’s slower pace of interest rate hikes. We have previously predicted that a sluggish interest rate hike could be useful for stocks and gold markets, hinting that cryptocurrencies like bitcoin could also witness dollar holders moving their positions into its “safe haven”.

Bitcoin/USD in Bear Flag

BITCOIN/DOLLAR 4H CHART | SOURCE: COINBASE, TRADINGVIEW.COM

The Bitcoin/Dollar rate is trending inside a bear flag while eyeing a potential inverse head and shoulder breakout. We have two possibilities as the pair trends ahead. The first one is a reversal that could see the pair test support near the 100-period moving average or form a double bottom at 3127-fiat in an extended selling action. The second possibility is an extended upside run towards 4414-fiat upon breaking the intermediate resistance at 4038-fiat. The latter would establish an inverse H&S while a breakout above 4414-fiat will fix the next target at 4750-fiat or less.

The Relative Strength Index, meanwhile, is looking to rebound from its overbought area towards 63, its previous support.

Bitcoin/USD Intraday Analysis

BITCOIN/DOLLAR 1H CHART | SOURCE: COINBASE, TRADINGVIEW.COM

The Long and Long of It

According to our intraday strategy, the parameter we are in is defined by 3751-fiat as support and 3927-fiat as resistance. On a first green candle formation on hourly charts, we will open a long position towards 3927-fiat. As we do, we’ll maintain a stop loss order just 1-pip below our opening position.

Similarly, a selling action at this point in time would have us wait for Bitcoin/Dollar to test 3751-fiat as potential support. If the price bounces back, then we’ll repeat our long position strategy towards 3927-fiat. If not, we’ll switch to our breakdown strategy and open a new short position towards 3683-fiat, our interim downside target.

Looking to the upside, a breakout action above 3927-fiat will have us enter a long position towards 4038-fiat. A stop-loss maintained just 1-pips below the entry position would define our risk management strategy.

Trade safe!

View the live bitcoin price chart on CCN here.

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Bitcoin, Ripple, Ethereum, EOS, Stellar, Bitcoin Cash, Litecoin, Bitcoin SV, TRON, Cardano: Price Analysis, Dec. 19

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data is provided by the HitBTC exchange.

Mark Dow, a former International Monetary Fund (IMF) economist who had bet short on Bitcoin in December of last year, has tweeted that he has covered his positions. However, Dow also mentioned that he has not opened a long position and has no interest in doing so.

Another prominent trader, Mike Novogratz, an ex-Goldman Sachs partner and founder of crypto merchant bank Galaxy Digital, expects the leading digital currency to hold $3,000. He anticipates a consolidation between $3,000 and $6,000 in the near future.

A few crypto hedge funds that had jumped on the bandwagon without proper risk management measures are closing down. However, others — like Morgan Creek Digital — are getting more aggressive in deploying their capital at these low prices.

Another institutional cryptocurrency trading firm Genesis Global continues to expand, expecting to increase its employee numbers in 2019. Similarly, major United States crypto exchange Coinbase has also doubled its staff count since June.

This shows that the players who invested smartly are benefitting from the fall and are expecting a bright future going forward.

BTC/USD

Bitcoin is currently in a pullback. It has broken out of the 20-day EMA for the first time since Nov. 14. This shows buying by the aggressive bulls and short covering. Wednesday is the third day of the pullback. Usually, during a strong downtrend the throwback rally fizzles out within three days.

If the bulls continue supporting the BTC/USD pair, it may reach the first overhead resistance of $4,500. We anticipate some resistance at these levels, as short-term traders will look to book profits, and aggressive bears will establish short positions once again.

The main trend still remains down. However, the flattening 20-day EMA and the RSI in the neutral territory show that the short-term trend is changing. The next leg down will give us a better idea of whether a bottom is in place, or if this is just a relief rally.

The important levels to watch on the upside are $4,500 and $5,000. On the downside, a break of $3236.09 will resume the downtrend. Investors can hold on to their positions. We shall wait for a new uptrend to start before adding positions.

XRP/USD

The recovery in Ripple has cleared the 20-day EMA and is facing resistance at the next overhead resistance of $0.4. The 50-day SMA is also located close by, so we anticipate a minor pullback or a consolidation at this level.

XRP/USD

If the bulls scale the 50-day SMA, the rally can extend to the resistance line of the descending channel at $0.5. The $0.5–$0.62 zone will act as a major roadblock. Short-term traders can book partial profits at these levels and trail the stops on the remaining positions higher.

Conversely, if the XRP/USD pair turns down from $0.4, it can correct to $0.33108. Both moving averages are flattening out and the RSI has jumped into the positive territory, which indicates a trend change. We shall get a better idea in the next 3–4 days.

ETH/USD

Ethereum has risen above the overhead resistance of $102.5 and the 20-day EMA. In doing so, it has re-entered into the previous consolidation.

ETH/USD

The ETH/USD pair can now move up to the top of the range at $130. The $130–$136.12 zone is likely to act as a stiff resistance. Short-term traders can book partial profits at these levels and trail the stops on the remaining position higher.

If the bulls fail to sustain the momentum and the digital currency corrects without reaching our desired target objective, we anticipate strong support at $102.2. If this level breaks down, a retest of the lows is probable.

EOS/USD

EOS easily scaled the 20-day EMA and is on target to reach the 38.2 percent Fibonacci retracement of $3.0510. This might act as a minor resistance.

EOS/USD

However, the 20-day EMA has flattened and the RSI has risen close to the positive territory. This shows that the short-term trend is changing. Above $3.0510, the pullback can extend to $3.5147.

If the EOS/USD pair turns down from one of the above levels, it is likely to find support close to $2.1733. The downtrend will resume below $1.55.

XLM/USD

Stellar has reached the critical overhead resistance of $0.13427050 from where it had turned down on Dec. 8. If the bears defend the level again, we might witness a minor correction or a consolidation.

XLM/USD

If the bulls scale $0.13427050, a rally to $0.184 is likely. The 20-day EMA is flattening out, which shows that the short-term trend is changing.

However, the XLM/USD pair is an underperformer, as it has not even crossed the 20-day EMA and its RSI is still in the negative territory. Hence, we are not proposing a trade in it. We shall revise our outlook if we find a reliable buy setup.

BCH/USD

As we had expected, Bitcoin Cash has risen sharply from its low of $72.39. This has corrected the oversold levels on the RSI.

BCH/USD

The price has reached the 20-day EMA which might act as a stiff resistance. We anticipate a minor pullback from this level. On the downside, $100 can act as the first support.

However, if the bulls continue to buy and scale above the 20-day EMA, the recovery can stretch to $205. The BCH/USD pair has a history of vertical rallies, so the traders who went long at lower prices should keep partial positions open with a trailing stop loss, to ride any spikes. Our bullish view will be invalidated if the price plunges below $72.39.

LTC/USD

Litecoin has risen above the overhead resistance of $29.349 and the 20-day EMA. The pullback can now extend to $36.428. The downsloping 50-day SMA is just above this level. Therefore, we expect this to act as a major hurdle for the bulls.

LTC/USD

The 20-day EMA has turned flat and the RSI has risen into the positive territory. This suggests that the short-term trend is changing. After such a long bear phase, we anticipate the LTC/USD pair to complete a bottom formation before starting a new uptrend.

A few days of range bound action is likely. Therefore, the short-term traders should book profits at regular intervals. Our assumption will be invalidated if the bears sink the virtual currency below $23.090.

BSV/USD

Bitcoin SV is back in the range $80.352–$123.98. Currently, the price is facing resistance at the downtrend line.

BSV/USD

As long as the BSV/USD pair remains in the range, it is likely to reach the top of the range at $123.98. Our bullish view will be invalidated if the price turns down from the current levels and plunges below $80.352.

In such a case, the bears will try to sink the virtual currency below $65.031. Due to the short trading history, the traders should book profits at regular intervals and trail the stops on the remaining position to protect their capital.

TRX/USD

TRON has proven its status as an outperformer among the top cryptocurrencies. Its pullback has breached the 50-day SMA and is retesting a major support at $0.0183.

TRX/USD

Traders who went long at lower levels can book partial profits at these levels because we anticipate a strong resistance at $0.0183. The correction from the current levels is likely to find support at the 20-day EMA and $0.01339050.

On the other hand, if the TRX/USD pair scales and sustains above $0.0183, it can rise to $0.02815521 in the medium-term. The rising 20-day EMA and the RSI in the positive territory suggest a possible trend change.

ADA/USD

Cardano has risen above the 20-day EMA and has entered into the previous range of $0.033065–$0.045516. The 20-day EMA is flattening and the RSI is close to the neutral zone. This suggests a likely consolidation in the short-term.

ADA/USD

If the ADA/USD pair breaks out of $0.045516, it will face resistance at the 50-day SMA. Above this level, the recovery can reach $0.060105.

However, if the bears again sink price below the range, a retest of the low at $0.027237 is probable. The downtrend will resume if this level breaks down. Traders should quickly close their positions if the virtual currency doesn’t break out of the resistances.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.



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$120 Million Raised by Waves Platform as Launch of Private Blockchain Nears


Waves

Blockchain network Waves Platform has raised US$120 million in a funding round allowing it to roll out Vostok, a private blockchain platform and system integrator that was developed with public institutions and large enterprises in mind.

The fundraising round was led by Dolfin, a financial services group based in London, and mostly involved private investors, according to Bloomberg. The Waves Platform cryptocurrency reacted positively to the news appreciating by close to 50%. Waves has now attained a market capitalization of over US$400 million.

Per the founder of Waves Platform, Sasha Ivanov, there is a need in the market for decentralized networks such as Vostok and this will continue to be the case:

The cryptocurrency rush is over now, while the idea of using a decentralized network to store data and cut costs is still relevant.

Use Cases for Private Blockchains

According to Ivanov, private blockchains are filling a void left by public blockchains as they can offer better protection of data. The target markets for Vostok are mainly in Asia, Europe and the former Soviet republics. The initial projects on the platform are expected early next year.

This comes less than two months since the Waves Platform hit a milestone when over 6.1 million real-time transactions were processed in a stress-test with no delays or disruptions in the network as the test was being carried out.

Additionally, no slowdowns were experienced by users for token creation, transfers or decentralized exchange orders. At peak times, the platform was able to handle hundreds of transactions every second.

Per Ivanov, the platform beat more prominent blockchain networks hands down with regards to the speed of processing transactions:

Bitcoin processes just a few transactions per second. Ethereum’s capacity is into double-digit tps, and a handful of other blockchains have improved on this incrementally in various ways. WAVES has implemented tech that enables a step-change in transaction volumes — not just in the lab, but in the real world, on MainNet, as these figures prove beyond doubt.

Big Plans for the New Year

Other positive developments on the Waves platform which have contributed to its token rising in value and entering the top 20 list based on market capitalization include the introduction of a smart contract functionality in September. Earlier this month, Waves also released a wallet add-on for Firefox.

In the coming year, Waves is planning a second funding round. Additionally, the blockchain platform, which has a decentralized exchange of its own with 69 tradeable coins already listed on it, also intends to launch trading on its Maltese virtual financial assets exchange in 2019.

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How One Project Is Going to Save Trees In Paraguay Via Blockchain

A group of German entrepreneurs have come up with a blockchain-based project that aims to help save trees in Paraguay, one of the countries most affected by deforestation.

Every minute, our planet loses 27 soccer fields worth of forests. In a year, that makes up to more than 75,000 square kilometers, and in 2016, according to a study by the University of Maryland, a sad record has been set: About 297,000 square kilometres of forests have been cut down, slightly less than the entire territory of Italy.

The consequences are harsh. Deforestation is responsible for about 15 percent of greenhouse gas emissions, which cause global warming.

The project, called TreeCoin, aims to stop the deforestation one small step at a time. It offers participants a share in an ambitious reforestation project in Paraguay, where fast-growing eucalyptus trees will be planted in vacant areas 20 percent bigger than the entire city of Paris — and that’s just the start.

According to the company, every four years, the land will generate a profit from selling precious eucalyptus timber — and every four years, more and more square kilometers of forests will be saved from being cut down somewhere else. A portion of the profits will be reinvested to purchase land to plant more trees, and so on.

In 22 years, the team intends to accumulate some 597 square kilometres of recovered forest area that they say will “continue to generate profits forever.” That’s the essence of the TreeCoin project, presented at BlockShow Asia by a group of German businessmen led by Mr. Jörg Schäfer, also known as Mr. Green.

Business mechanics

TREE is a security token that will be issued by the company under Swiss jurisdiction. The token purchaser can decide how many trees they want to plant at the start of the project. One TREE token is equal to one tree planted at the start of the project and will be worth $23, with all land purchases and management overhead included, the company explains.

TreeCoin promises that 50 percent of the profit made by selling the timber will be reinvested to buy more land to plant more trees, and 10 percent will be donated to charities to support projects related to “nature, water treatment, hospitals, child care centers, foundations, and associations for people with handicap and disadvantages.”

The current project’s scope is 22 years, and during that period, the TreeCoin team will seek to amass some 597 square kilometres under its management, becoming one of the largest landowners in Paraguay.

Hybrid token offering

Another novelty of TreeCoin’s approach is its “dual offering” method. According to the company, every TREE security token issued will trigger the emission of 100 TreeCoins, the accompanying payment tokens of the project. Seventy of these will go to the holder of the TREE token, and the remaining 30 will go to the project team to cover expenses and pay workers’ salaries.

The team says the project has the backing of the Paraguayan government to implant TreeCoins as a legal tender into the local economy of the area where the project will operate. The company promises to pay the local workforce “above the average” and will give 20 percent of the wages in TreeCoins directly to local employees’ e-wallets. To incentivize TreeCoins’ use, TreeCoin plans to partner with local grocery stores in order to offer discounts between 15 and 20 percent on all purchases made with TreeCoins.

TreeCoin is freely tradeable, so TREE token holders will be able to sell their TreeCoins to the local economy’s actors when the project takes root, the company highlights.

The team admits TreeCoin alone will hardly make a noticeable change in the extinction of the rainforest: Even at its maximum capacity, TreeCoin’s enterprise will save just about a couple of days worth of lost forests every four years. However, the project aims to set an example for the rest of the business world.

 

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.



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OKEx Launches No-Expiry Bitcoin Derivative Product

Malta-based OKEx, currently the second largest crypto exchange by 24-hour adjusted volume, has launched a new bitcoin derivative product with no expiry date, meaning that positions can be held indefinitely.

Announced Tuesday, the product, dubbed a “perpetual swap,” allows crypto traders to speculate on the future value of OKEx’s bitcoin (BTC) to U.S. dollar (USD) index.

Each swap contract has a notional value of $100 equivalent in BTC, the exchange said in a statement, adding that traders can either long a position to profit from an increase in bitcoin’s price or short a position to profit from the decline in bitcoin’s price.

The new product offers up to 100 times leverage, compared to the 10 times commonly available in traditional capital markets, which OKEx said can reduce the trading cost. Settlement time is at 04:00 and 16:00 UTC daily, while the traded price of a perpetual swap contract is “closely anchored to the spot market price,” said the exchange.

OKEx’s perpetual swaps also offer a “tiered maintenance margin ratio” feature, which allows traders with open positions to adjust their leverage according to their risk appetite and market conditions, and a “mark price” mechanism to help traders avoid unnecessary liquidations at times of high volatility.

The exchange said it plans to add swaps between different cryptos in the future.

Trading screen image via Shutterstock



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French Parliament Refuses to Ease Taxation for Cryptocurrency Owners

The lower house of the French parliament has rejected the amendments to the 2019 finance bill which would ease crypto-related taxation. French monthly business magazine Capital reported this Tuesday, Dec. 18.

The amendments that have been declined by the National Assembly referred to a draft of the government finance bill for 2019.

As explained by local crypto news outlet Bitcoin.fr, the Parliament rejected four proposals in total. One of them was to introduce a distinction between regular crypto transactions and occasional ones, offering a more relaxed taxation system for the latter.

Another amendment proposed to increase the annual volume of transactions that falls under tax exemption from €305 (around $350) to €3,000 ($3,430), or even €5,000 ($5,714). The National Assembly also declined the proposal to follow the current guidelines for securities when introducing crypto taxation

As Cointelegraph reported in November, a reduction of the crypto income tax rate from 36.2 to 30 percent was also proposed; this amendment was mentioned during the Assembly’s meeting, but its current status remains unclear.

The head of a French blockchain association Chaintech, Alexandre Stachtchenko, told Capital that the government’s move did not provide any legal certainty for the country’s crypto traders and investors. Moreover, he believes that under the current legislation many of them will prefer not to report their crypto incomes.

In June 2017, France’s president Emmanuel Macron said he would like France to become a “startup nation.” The country’s Minister for the Economy and Finance, Bruno le Maire, echoed Macron’s point of view, claiming that the country was ready for a “blockchain revolution.”

In December, French political deputies offered to spend €500 million (about $569 million) on state-level blockchain deployment over the next three years in order to comply with the course plotted by le Maire.

However, France’s overall attitude towards cryptocurrencies remains ambiguous. The country’s central bank  has recently refused to endorse a plan that would allow thousands of tobacco kiosks to sell Bitcoin (BTC) starting in January 2019.



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Hong Kong Stock Market Regulator ‘Reluctant’ to Greenlight Bitmain IPO, Sources Report

Hong Kong stock market regulator is reportedly reluctant to allow Bitcoin mining equipment manufacturer Bitmain to conduct an initial public offering (IPO) in the city. Local English-language newspaper South China Morning Post (SCMP) made this claim in an article published Dec. 19, with reference to anonymous sources.

Citing two “sources familiar with the matter,” SCMP poured more cold water on the plans of mining giant Bitmain to go public, just a day after the Hong Kong Stock Exchange (HKEX) told Cointelegraph that any hesitation on part of the company was “rumors.”

According to the publication’s sources, Hong Kong’s stock market regulator thinks it is “premature for any cryptocurrency trading platform – or business associated with the industry – to raise funds through an IPO in Hong Kong before the proper regulatory framework is in place.”

As a result, SCMP suggests, current conditions “could be an insurmountable hurdle” for Bitmain and other cryptocurrency companies planning to launch an IPO.

Controversy has surrounded the mining giant’s IPO plans ever since rumors about them leaked into the community earlier this year.

Various factors — such as alleged poor sales — have already contributed to doubts about the likelihood that the IPO will be successful.

HKEX meanwhile repeated its refusal to comment on the Bitmain case when queried by SCMP.



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