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IT'S OFFICIAL: Crypto mining and chip manufacturing giant Bimain filed a prospectus for its hotly anticipated initial public offering on the Hong Kong Stock Exchange.
Though the document omits some important details, such as the number of shares for sale, it does demystify some of the inner workings of Bitmain.
According to the prospectus, the company made $1 billion on $2.8 billion in revenue in the first half of this year alone. That's already comparable to its results for all of 2017, when it cleared $1.2 billion on $2.5 billion of revenues.
Notably, the prospectus also reveals that Jihan Wu's juggernaut is now a big landowner. Which isn't such a stretch when you consider that like bitcoin, land is an asset with a capped supply. Full Story
UNFOGGING THE FUTURE: UNFOGGING THE FUTURE: In another sign of the crypto industry's growing prominence, lawmakers invited exchanges, startups and venture capital firms to Capitol Hill in Washington on Tuesday to share their grievances with the regulatory uncertainty around ICOs and token rules.
While the Congressmen were receptive to the concerns of the crypto firms, they stressed that they do not wish to make quick decisions as they lack the education and knowledge on crypto to make thorough laws.
"With a thoughtful, bipartisan approach that protects consumers, advances free market solutions and defines safe-harbors for the early stage innovators, Congress can send a powerful message around the world that the U.S. is the best destination for ICO markets," Rep. Warren Davidson told hearing attendees. Full Story
STEP RIGHT UP: Think your cryptocurrency is good enough to be listed on Coinbase? Well, now you don't have to lobby the management team, or enlist a troll army on Twitter to flood the startup's mentions (which probably doesn't work).
The crypto exchange unveiled a formal process for digital asset developers and creators to request listings, starting with an online form. Applications will be evaluated on the basis of market demand, compliance and technical security.
"We're now actively reaching out to asset developers with this," CTO Balaji Srinivasan said, describing such teams as potential customers for Coinbase in a new, two-sided marketplace.
The catch: Even if your coin makes the cut, it won't necessarily be available to all Coinbase users at once, since listings will be added on a jurisdiction-by-jurisdiction basis for compliance reasons. Full Story |
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 Wondering how your crypto investment would be doing if you bought exactly one month ago? Well here are the results... Without question, dogecoin led the pack with its price growing by 140 percent. This was possibly due to platforms like Robinhood listing it as well as developers building and demonstrating a dogecoin bridge to utilize the ethereum network. Ironically, ether lost the most among the coins in the sample, with an 18 percent decline. Perhaps investors are growing impatient with the lack of active users on dapps For more research insights check out the CoinDesk Research section here. |
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| | STABLE COIN? By one measure, the volatility of bitcoin's price is at its lowest level in 21 months. With BTC lately teetering between the bulls and the bears, if the new stability lasts long enough it could push the cryptocurrency in a particular direction. Full Story |
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BEST OF THE BEST:
THE NEXT WEB: Nothing is spared from the discerning eye of a comedian, if it’s mainstream then it shall be mocked. Bitcoin is no different.
In this piece, various comedians discuss how they have cashed in on the bitcoin craze without losing their life savings.
Some of these comedic bits are informative as they aim to explain how things in the crypto space work.
THE REST:
MASHABLE: Sikur has launched SikurOS, a customized Sony phone with a cryptocurrency wallet, similar to the HTC Exodus.
Among other security features, SikurOS boasts the ability to remotely wipe the device.
BLOOMBERG: Tracking products from origin to destinations seems to be the reason many industries are turning to blockchain.
According to this report pharmaceutical industries are actively entertaining the possiblity of incoporating blockchain in their operations.
The report explains that the Drug Supply Chain Security Act from 2013 is the reason that drug companies are waking up to this new technology. |
We've launched our first-ever podcast, "Late Confirmation," a digest of top stories in the blockchain world, delivered daily from the team at CoinDesk and sponsored by the Oxford Blockchain Programme. |
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