Major South Korean cryptocurrency exchange Bithumb is planning to hold an initial public offering (IPO), according to reports from local media. As reported by MoneyToday on June 24, Bithumb Korea, the trading platform’s operator, has begun preparing for a stock market launch, tapping Samsung Securities as its underwriter. Bithumb is reportedly facing a number of potential obstacles that could prevent it from successfully filing an IPO in South Korea, namely recent crypto taxation issues. Earlier this month, the South Korean Finance Minister, Hong Nam-Ki, announced plans to impose a tax on cryptocurrency, saying that more details will be revealed in …

David Weild IV, who is known as the father of the JOBS Act, believes that the U.S. government had to move to stamp out Facebook’s Libra stablecoin. Facebook: Number of Active Users. Source: Statista. ‘Government’s got to do something’ In an interview with Cointelegraph, Weild said that when he first heard about Zuckerberg’s initiative, he knew right away that the government needed to step in: “When I heard what Zuckerberg was going to do (and this was before the government clamped down), I said ‘the government’s got to do something here.’ And it was picked up by the House Financial …

Nasdaq, the world’s second-largest stock exchange, is going to introduce new restrictions on initial public offerings, or IPOs, to prevent smaller Chinese companies from getting listed, a recent Reuters report citing anonymous sources suggests. Chinese IPO seekers tend to lack accounting transparency and have “close ties to powerful insiders,” Reuters’ sources claim, which is why the new rules will reportedly set out a minimum value on the size of IPOs for the first time on Nasdaq. Specifically, the exchange might require companies “from some countries, including China,” to raise at least $25 million in their offering or, alternatively, at least …

Major Bitcoin (BTC) miner manufacturer Ebang has filed for a $100 million initial public offering (IPO) with the United States Securities and Exchange Commission (SEC). Ebang is seeking to distribute Class A ordinary shares at a face value $of 0.00013 per share. The firm plans to list on either Nasdaq Global Market or the New York Stock Exchange under the ticker EBON. The move comes nearly two years after the company sought to conduct a $1 billion IPO in Hong Kong. After submitting its filing in June 2018, the offering had been halted by the end of the year. Ebang …

Binance founder and chief executive, Changpeng Zhao, took aim at initial public offerings, or IPOs, and venture capital fundraising while speaking at the recent BlockDown 2020 conference. Despite the recent decline in crypto investment, Changpeng Zhao, or CZ, expressed confidence that the blockchain fundraising markets will produce exponential growth in the coming years, emphasizing the boom and bust cycles of investment into other tech industries. IPOs leave the public ‘holding the bag’ Speaking at BlockDown 2020 on April 16, CZ described distributed ledger technologies, or DLT, as driving creative destruction in global fundraising practices, arguing blockchain fundraising has allowed individuals …

Nasdaq-listed Bitcoin mining equipment manufacturer, Canaan, reported a net loss of $148 million for 2019, according to the latest financial results filed with the Securities and Exchange Commission (SEC). The latest unaudited Q4 and 2019 financial results from the China-based company said that its total 2019 net revenue was $204.3 million. This represents approximately half of the $384 million the company generated in 2018. Total net revenue increased in Q4 2019 In the same quarter, the company’s total net revenue increased by 66.8%, representing $66.5 million. This was more than half of what it had generated in the same period …

Law firm Robbins Geller Rudman & Dowd LLP announced on April 7 that the lead plaintiff motion deadline in the Canaan securities IPO class action lawsuit was set for May 4, 2020. The Canaan’s litigating stakeholders in the “Lemieux v. Canaan Inc.” case are expected to decide who will represent their interests, as they were accused that the initial public offering (IPO) carried out last November violated the Securities Act of 1933. Misleading and false information provided The lawsuit alleges that the Registration Statement for the IPO was false and provided investors with misleading information. They are also accused of …

In a world where blockchain technology is rapidly breaking barriers and disrupting industries one at a time, the emergence of new models to replace classical crowdfunding ventures is just a matter of time. More than a decade after Bitcoin’s introduction, we’ve witnessed new crowdfunding models replacing the initial public offering for funding blockchain-fueled projects — the initial coin offering, decentralized autonomous organization DAO, the security token offering and the initial exchange offering. History indicates that if you have honey, the bees will follow. However, countless illicit schemes and scam projects have caused some misguided investments. So, why have there been …

Blockchain services and cryptocurrency mining hardware producer Canaan is facing a class-action lawsuit filed by investors following claims of dubious practices for attracting investments. Investor rights-focused law firm Rosen Law Firm has initiated the suit on behalf of Canaan securities purchasers in the company’s initial public offering (IPO). The law firm claimed that Canaan investors suffered damages as the firm had made false and misleading statements and failed to disclose a number of issues. Canaan allegedly misled investors regarding a partnership According to the announcement, Canaan did not reveal to its investors that a purported “strategic partnership” — apparently with …

After steadily depreciating well into the last quarter of 2019, Canaan certainly rebounded slightly today. The company was the first example of a large Bitcoin miner to go public on Nasdaq. However, after its initial public offering (IPO) on Nov 21, Canaan stock price values dropped nearly 40% within a few weeks. Competition with Bitmain helped stocks surge? Some healthy competition may have helped the bitcoin miner to regain some traction in the market. Canaan came out ahead of Bitmain, another major China-based bitcoin miner, to become the first company traded in a US stock market. Unfortunately, this introduced Canaan …

2020 could be the year that crypto companies step forward and take the plunge into going public. As the biggest players in the industry cautiously watch for opportunities to gain regulatory approval, Ripple CEO Brad Garlinghouse used the prestigious Davos World Economic Forum summit to announce that the firm was considering an initial public offering later on in the year. Crypto companies looking to go public face a paradox. Financial firms often have to meet stringent regulatory standards. Failing to adequately reassure regulators can result in companies being frozen out of lucrative markets or forced to shut down altogether. But …

Blockchain payment network Ripple launching an initial public offering (IPO) could, in fact, devalue the cryptocurrency in which it holds a majority stake. According to several market participants interviewed by Cointelegraph over the weekend, Ripple going public has potential implications for the fate of altcoin XRP. Ripple IPO: boom or bust for XRP? The company’s CEO, Brad Garlinghouse, last week hinted an IPO may occur within the next year. In the face of flagging XRP prices, the impetus behind a major fundraising event is clear for commentators, but whether it would reverse the token’s fortunes is not at all clear. …