The views expressed here are the author’s own and do not necessarily represent the views of Cointelegraph.com Bitmain, the world market leader for mining equipment, on the eve of an epic IPO — which could become the largest in the entire history of the IT market — is experiencing an equally epic publicity and information attack. Despite the fact that the upcoming IPO is getting closer, as demonstrated by a draft application for registration recently filed by the company on the Hong Kong Stock Exchange, its success may be questionable. The fact is that, since Aug. 21, official refutations have …

Last week, at least two crypto-related enterprises, a Silicon Valley stock and cryptocurrency trading platform Robinhood and Singapore-based crypto exchange Huobi, moved closer to going public by holding an initial public offering (IPO). The ‘old school’ way to collect investments might seem especially attractive in the context of mass adoption trends and a declining ICO market, which now sees its hardest slump in 16 months. But what is an IPO exactly, and which crypto-related companies have chosen to go public? What’s an IPO? For those who know what an Initial Coin Offering (ICO) is, the concept of initial public offering …

Stock and cryptocurrency trading platform Robinhood is planning to launch an Initial Public Offering (IPO), for which the company is looking for a chief financial officer (CFO), TechCrunch reported September 6. In an interview with TechCrunch, Robinhood CEO Baiju Bhatt said that the startup has begun to search for a CFO, and is undergoing a spate of audits from the U.S. Security and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) in order to ensure regulatory compliance. Robinhood began offering trading services for cryptocurrencies in February of this year, attracting over 1 million people in its early access …

Cryptocurrency exchange Huobi has acquired controlling stock interest in Hong Kong-based Pantronics Holdings Ltd., according to an official announcement from the Hong Kong Stock Exchange (HKEx) dated August 29. As Cointelegraph reported August 28, HKEx-listed Pantronics, an electronic products manufacturing firm, had halted trading of its shares on the Main Board of exchange on August 22, citing a “possible offer to be made under Rule 26 of the Hong Kong Codes on Takeovers and Mergers.” Indications at the time suggested Huobi had acquired 73.73 percent of the firm. HKEx’s official announcement clarifies that Huobi, alongside blockchain services provider platform Fission …

Singapore-based investment company Temasek has officially denied involvement in the cryptocurrency mining giant Bitmain’s Initial Public Offering (IPO), according to an official statement August 30. Last month, media reported that Temasek was one of the key investors in the Bitmain pre-IPO funding round. The investment firm’s commitments for the pre-IPO allegedly totalled $560 million. In response to the reports, Temasek stated: “We've seen commentary about an IPO involving a cryptocurrency company, Bitmain. Temasek is not an investor in Bitmain, and has never had discussions with, or an investment in Bitmain. News reports about our involvement in their IPO are false.” …

Cryptocurrency hardware wallet manufacturer Bitfi has officially closed its bounty program, according to an August 30 tweet, in addition to removing the “unhackable” claim from the wallet’s marketing materials. In its statement, the company admitted "vulnerabilities," and yet avoided speaking about multiple alleged hacks of the device. Bitfi also confessed to hiring a "Security Manager who is confirming vulnerabilities that have been identified by researchers." The company expressed appreciation for "the work and effort of the researches," stating that the bug bounty program was officially closed. Any further comments on remuneration and the project's roadmap are postponed until early September. …

A research unit for crypto exchange BitMEX analyzed recent data on Bitmain which was leaked to Twitter earlier this week. According to the report published on BitMEX blog Thursday, August 30, the Chinese mining giant has “legendary” potential, but future success will depend on skilled management. Discussing the source of leaked Bitmain financial data — apparently a Twitter account @brian_trollz — BitMEX states that it has “reason to believe the authenticity of these documents.” According to the research, one of the most interesting discoveries in leaked pre-Initial Public Offering (IPO) documents is that Bitmain’s mining farm business has significantly declined. …

Chinese cryptocurrency exchange Huobi has reportedly acquired the controlling stock interest in Hong Kong-based Pantronics Holdings Ltd. through a backdoor listing deal, local news outlet JRJ.com reported August 27. A backdoor listing, which is also known as a reverse takeover or reverse Initial Public Offering (IPO), allows a privately held company to purchase a publicly traded company avoiding the public offering process, regulatory issues, and due diligence. Upon completion of the deal, the buyer gains automatic inclusion on a stock exchange. Huobi reportedly acquired 73.73 percent of Pantronics Holdings Ltd., which makes the crypto exchange the actual controller of the …

Vague statements in Chinese mining giant Bitmain Technologies’ investor deck ambiguously and potentially misleadingly list investors ahead of its rumored Initial Public Offering (IPO). In a Bitmain pre-IPO investor deck acquired by Cointelegraph, DST Global is listed as an investor, with claims that the investment is “recently completed.” Henry Yu, a lawyer and legal expert at Hong Kong law firm L&Y Law Office, spoke with Cointelegraph, explaining that the document’s wording in the original Chinese is left vague. While it is possible to dispute the meaning, to the layperson or an uninitiated potential investor, the language would suggest Bitmain has …

An official from SoftBank has denied their involvement in the investment deal with Bitcoin (BTC) mining behemoth Bitmain that was reported last week by both crypto and mainstream media sources. As previously reported, Bitmain had allegedly sealed a pre-Initial Public Offering (IPO) financing deal which had brought its valuation to $15 billion. Both Chinese tech conglomerate Tencent and Japan’s SoftBank — another tech giant whose 15 percent stake in Uber makes it the drive-hailing app’s largest shareholder — were purportedly involved. After receiving an anonymous tip that Tencent and SoftBank were not actually involved in any deal with Bitmain, Cointelegraph …

Marijuana culture media group High Times Holding Corp. has decided not to accept Bitcoin (BTC) in its initial public offering (IPO), according to an August 13 filing with the U.S. Securities and Exchange Commission (SEC). The decision runs counter to the company’s Aug. 3 announcement, where it stated it will accept cryptocurrencies in order to attract investors. In the beginning of August, High Times published a press release saying it would accept BTC and Ethereum (ETH) as a method of payment for subscription to the company’s shares. In the run-up to the IPO, High Times filed a Regulation A+ offering …

Bitcoin (BTC) mining behemoth Bitmain is now valued at $15 billion after closing a pre-Initial Public Offering (IPO) funding round with backing from high-profile investors, QQ News reported August 4. The fresh financing deal, which is said to have closed on Saturday, notably includes investments from Chinese tech conglomerate Tencent and Japan’s Softbank, another tech giant whose 15 percent stake in Uber makes it the drive-hailing app’s largest shareholder. Tencent, meanwhile, is the developer of China’s dominant social media platform WeChat, which has over 1 billion global users and outstripped Facebook’s market cap by $72 billion in March of this …