| November 22, 2019 | View web version |
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Go Pro. This week, our pro newsletter dove into Paypal cutting its ties with Pornhub, why Mimblewimble's privacy is flawed, and Justin Sun's recent investment in Poloniex.
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This week in a nutshell
- According to The Block, shortly after the Chinese Central Bank began inspecting cryptocurrency-related activities in Shanghai, Binance's Shanghai office was raided by police and shut down.
- According to Binance CEO Changpeng Zhao, a police raid did not occur and Binance does not have a Shanghai office.
- In recent research conducted by blockchain analytics firm Elliptic, it was discovered that 'suspicious activities,' such as Ponzi schemes and scams, accounted for over $400 million worth of XRP transactions.
- The largest bitcoin mining facility in the world is being built in Texas by Northern Bitcoin AG in collaboration with Whinstone US, Inc. The facility will span over 100 acres (about 57 soccer fields!) and will have a total capacity of one gigawatt.
- On Thursday, November 21st, mining hardware manufacturer Canaan Creative ($CAN) listed its shares on Nasdaq. Canaan raised $90 million by offering 10 million American Depository Shares, but at the end of the trading day, the stock was down a whopping 28% from its offering price of $12.60.
- ChainAnalysis laid off nearly 20% of its workforce on Thursday, November 21st when the firm let go of 39 employees. ChainAnalysis Director of Communications Maddie Kennedy says they did this to put the company on the "path to profitability."
- Bitcoin has erased more than 75% of the gains it experienced when it jumped from $7,293 to $10,350 in late October.
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