In today’s edition of Bitcoin in Brief we cover how Bitmain’s valuation reached $12 billion, the opening of a new US-based crypto exchange, and Binance’s decision to donate $1 million to flood victims in Japan. Additionally, we explore what parts of the current crypto ecosystem Vitalik Buterin hates.
Also Read: Youtube Dragged Into Bitconnect Class Action Lawsuit for Failure to Protect Victims
Bitmain Valued at $12 Billion
Bitmain Technologies Ltd., the Beijing-headquartered bitcoin mining machines (ASIC chips) producer, has raised up to $400 million in its latest fundraising round, valuing the company at $12 billion, Chinese media outlet Caixin has reported. The company’s B round of fundraising was led by the venture capital firm headquartered in Menlo Park, California, Sequoia Capital, along with the New York based tech sector hedge fund Coatue, and EDBI Pte Ltd., the private equity and venture capital arm of Singapore Economic Development Board, according to sources close to the deal. Based on this new valuation, Bitmain might seek a massive initial pubic offering (IPO) on the stock market in Hong Kong in the future.
New US Exchange Opens
The American crypto trading market is getting a little bit more competitive with a new exchange opening. HBUS, a strategic partner of Huobi, has begun accepting new user registrations by U.S. residents on July 6th. Users are able to deposit BTC, BCH, ETH, ETC, LTC, USDT, CVC, DASH and TUSD. The actual marketplace will go live tomorrow, July 10th, when users will be able to trade and withdraw funds. The launch is not nationwide yet as HBUS does not currently serve residents in Alabama, Connecticut, Georgia, Louisiana, New York, North Carolina, Hawaii, Vermont, and Washington.
“Our strategic partner, Huobi, has grown
