Crypto Conglomerate Bitmain’s $18 Billion IPO Will Initiate FOMO Among Investors

Bitmain, the biggest crypto conglomerate in the global market, is expected to conduct one of the largest initial public offerings (IPOs) in history, alongside Visa and Facebook. $18 Billion IPO Throughout July, Bitmain, the Chinese crypto and blockchain corporation, touted its plans to initiate an IPO valued at $15 billion. It invested in multi-billion dollar

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Can Cryptocurrency Businesses like Coinbase Compete With Wall Street Conglomerates?

The cryptocurrency sector has produced many multi-billion dollar companies over the past nine years. Most notably, Coinbase, Binance, Bitmain, Bitfinex, UPbit, Bithumb, and Canaan have evolved into billion dollar juggernauts, competing against major conglomerates in regions like the US, South Korea, and Japan.  San Francisco-based Coinbase now has over 20 million users, nearly as many as

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UK Forex Operator LMAX to Launch Cryptocurrency Exchange for Banks and Hedge Funds

UK foreign exchange trading platform operator LMAX has announced that it will launch a cryptocurrency exchange tailored for banks, hedge funds, and other institutional investors. The London-based company made the announcement on Monday, explaining that the new platform — dubbed LMAX Digital — is the “first physical crypto currency exchange dedicated to serving only institutional

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Bitfinex Forces Users to Submit Tax Information, May Share with Government

Major cryptocurrency exchange Bitfinex has recently notified some of its users that they are required to submit their tax information so the company can then send it over to the British Virgin Island’s (BVI) government, which “may” exchange the info with the tax authorities of its users’ country of residence. The exchange’s message reads: “The

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Cryptocurrency Exchange Kraken Will “Probably” Pursue SEC Registration

San Francisco-based cryptocurrency exchange Kraken will “probably” register with the US Securities and Exchange Commission (SEC) as a broker-dealer and an alternative trading system (ATS), the company’s chief executive said on Tuesday. “We would probably get registered as a broker-dealer and then an ATS,’’ Kraken co-founder and CEO Jesse Powell told Bloomberg in an interview

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Zcash Price Spikes to $345 After Gemini Announces New Trading Pairs

The zcash price spiked to $345 on Monday after cryptocurrency exchange Gemini announced that it will list the privacy-centric cryptocurrency for trading next week. Zcash Price Spikes to $345 Zcash had entered the day trading just above $250, and it traded close to this mark until shortly after 8:00 UTC. At this point, the zcash

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Winklevoss-Led Gemini Becomes ‘World’s First Licensed Zcash Exchange’

Gemini has become the “world’s first licensed Zcash exchange,” the company announced on Monday. The New York City-based cryptocurrency exchange — which was founded by Cameron and Tyler Winklevoss — today revealed that it will open zcash trading markets (ZEC/USD, ZEC/BTC, and ZEC/ETH), which it says makes it the “first licensed Zcash in the world.”

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OKEx Chief Executive Resigns Amid Cryptocurrency Trading Boom, International Expansion

The chief executive of one the world’s largest cryptocurrency exchanges has called it quits. Chris Lee, the head of OKEx, has resigned from the Hong Kong-based exchange just as it was executing major international expansion plans and was on track to become the most widely-used cryptocurrency trading platform. OKEx did not immediately respond to a

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Cryptocurrency Exchanges Pivot to Decentralization to Avoid Overseeing User Funds

Earlier this week, Bloomberg columnists and editors Benjamin Robertson, Matthew Leising, and Andrea Tan spoke with various experts from decentralized exchange projects, research firms, and cryptocurrency exchanges to explore the motivation behind the focus of blockchain projects on decentralized exchanges. The Necessity of Decentralized Exchanges Any platform or application online is hackable, especially if poor

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Former Barclays Trader Moves to Japanese Crypto Exchange, No Future in Traditional Finance

Daisuke Murayama, a former Barclays trader, told Bloomberg that he took a pay cut to move from the European banking giant to Japanese cryptocurrency exchange BitFlyer. “I just didn’t see a future in traditional finance,” said Murayama, emphasizing that most of the services and products provided by traditional financial institutions are outdated and likely to

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