A critic of cryptocurrency mining giant Bitmain, BTCKING555, said that a group investors are preparing a class action lawsuit against the company in a tweet on March 26. BTCKING555 said in the post that a number of Bitmain’s investors are going to file a class action lawsuit against the company in Hong Kong, seeking to recover their investments after the expiration of Bitmain’s initial public offering (IPO) bid. The post reads: “...already in august I warned many investors and prevented them from investing. Those that did not listen, good luck recovering your moneys. I hear there is class action in …
Beyond Coinbase, are there any other examples? One company that has been in the process of completing a Reg A token sale is Exodus. Exodus — which offers desktop, mobile and hardware crypto wallets — said that it wanted to pursue this approach to ensure that its users had equal access to equity as venture capital firms and crypto whales. The company’s stock was listed at a price of $27.42 a share, and was available directly through the Exodus wallet in exchange for Bitcoin, Ether or the USDC stablecoin. It was also available exclusively in the U.S., barring three states. …
Major United States exchange Coinbase’s COIN stock has received a reference price at $250 from Nasdaq ahead of the much-anticipated direct listing on the stock exchange just hours from now. The price is far below the current FTX pre-trading price of $600, albeit on thin 24-hour volume of under $4 million. The exchange is going public via a direct listing instead of an initial public offering, meaning the reference price is not a direct indicator of the company’s market cap. It simply implies a valuation of $65 billion, which is below other estimates ranging between $68 billion and $120 billion. …
The CEO of crypto mining hardware giant Bitmain, Jihan Wu, has confirmed he is “open” to conducting an overseas initial public offering (IPO), Bloomberg reports today, June 7. Speaking in an interview in Hong Kong, Wu, who claims to own up to 28 percent of China-headquartered Bitmain, said an IPO in the region – or any market which U.S. dollar-denominated shares – would be suitable as a means of allowing early backers to cash in funds. The potential move would mimic Canaan, one of the company’s main competitors, which announced its intention to launch an IPO last month. Canaan occupies …
On Monday, Hong Kong's Securities and Futures Commission (SFC) released a statement warning investors about the risks of nonfungible tokens, or NFTs, which have soared in popularity in recent years. The regulatory body wrote: "As with other virtual assets, NFTs are exposed to heightened risks, including illiquid secondary markets, volatility, opaque pricing, hacking and fraud. Investors should be mindful of these risks, and if they cannot fully understand them and bear the potential losses, they should not invest in NFTs." However, it appears that the SFC's specific concern lies in the securitization of NFTs. "The majority of NFTs observed by …