IPO news

A type of public offering in which shares of a company are sold to institutional investors and usually also retail (individual) investors.

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Bitcoin Mining Maker Canaan Shares Rise And Fall On Day One After $90M IPO

Bitcoin mining equipment maker Canaan Inc. (NASDAQ: CAN) made its trading debut on the Nasdaq exchange on Thursday. What Happened The China-based company raised $90 million in an initial public offering on Wednesday by selling 10 million American Depositary Shares at $9 each. Canaan’s shares surged up to 39.4% in the first two hours of trading at $12.54 before dropping. Its shares remained relatively flat for the rest of the day, closing at $8.99, a cent below its offer price ...Full story available on Benzinga.com
Benzinga

World’s First Bitcoin IPO Starts Trading

The first Initial Public Offering (IPO) of a bitcoin company has completed successfully in America according to SEC filings. Canaan, the world’s biggest bitcoin mining manufacturer after Bitmain, sold 10... The post World’s First Bitcoin IPO Starts Trading appeared first on Trustnodes.
Trustnodes

Bitcoin miner maker Canaan Creative raises $90 in U.S. IPO

On Thursday, Canaan Creative listed its shares on Nasdaq under the symbol “CAN,” pricing at $9, the low end of the expected range.   As part of the initial public offering (IPO), the bitcoin miner manufacturer raised a total of $90 million by offering 10 million American depositary shares (ADS).  This marks Canaan’s third attempt to go public after its plans in Hong Kong and mainland China fell through. On October 28, Canaan publicly filed for a U.S. IPO and set a placeholder target amount of $400 million, with Galaxy Digital, Citi Group, and four other companies as its underwriters. Credit Suisse, which was originally listed as one of the underwriters, dropped out recently.  Based in Hangzhou, China, Canaan is the second-largest ASIC manufacturer after Bitmain, according to the firm's IPO filing. The filing shows that it generated $394 million in revenue in the 2018 fiscal year, with a net income of $8.3 million. It also reports a net loss of $45 million in the first two quarters of 2019 and a profit of $13 million in the third quarter.  The increase in sales for Canaan, Bitmain, and other leading miner manufacturers partly comes from the Bitcoin’s price surge this year and the growing demand for bitcoin mining equipment. It was reported that Cannan’s main competitor, Bitmain, is also trying to go public in the U.S. after its IPO failed in Hong Kong due to local regulators’ doubts regarding the company’s sustainability.
The Block Crypto

Bitcoin Mining Company Canaan Falls Short Of Its Already Slashed IPO Target, Hitting Only $90M

Canaan Inc., a Bitcoin mining machine producer has raised just $90 million after cutting down its IPO target from $400 million to $100 million. Founded in 2013, Beijing-based company sold 100 million American depositary shares (ADS), US dollar-denominated equity shares of a foreign-based company available for purchase on an American stock exchange, for $9 per […]
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OPINION

Ways of Raising Capital for Startup

There are many ways of raising capital for your startup. You must consider all options and choose the one that best suits your particular venture. Here we provide an overview of seven common ways of funding to help you weigh the pros and cons of each source and make an informed decision.

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DIGEST

Is Blockchain ready or not?

The Netherlands has doubts about blockchain, Putin's opinion, Poland accepts crypto, IPO in Hong Kong, Bitcoin can change Colombia, BitMEX has listed EOS

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Bitfinex announces collaboration with ODEM to spur crypto, blockchain education

Bitfinex, one of the world's noted crypto-exchanges, has announced a strategic collaboration with ODEM, an on-demand education and employment marketplace, to expand cryptocurrency and blockchain educaThe post Bitfinex announces collaboration with ODEM to spur crypto, blockchain education appeared first on AMBCrypto.
AMBCrypto

Orchid to Debut A Privacy VPN Network Based on Token Technology in December

Orchid, a Virtual Private Network provider, has announced its plan to roll out a token-powered (OXT) network and an application during the first week of December. The company majors in offering decentralized VPN and is also a platform where node providers can trade in tokens for advertisements using the Ethereum blockchain tech. “We will be […]
Bitcoin Exchange Guide

How to buy and store Ethereum (ETH)?

Almost all activities, on the Ethereum network, are powered by its native crypto token Ether or ETH. ETH boasts of a $20 billion market cap and a circulating supply of ~108 million coins. This makes it the second-largest cryptocurrency by market cap.  The Ethereum network token entered the cryptocurrency trading arena in 2015. According to CoinGecko, since launch, ETH has registered a 2800 percent increment in price to date. Although Ether is down almost 87 percent after hitting all-time highs at ~$1500, it is pretty much an attractive alternative investment option because of the overall appeal of Ethereum, as a decentralized computing platform.  Many see ETH as a much more promising crypto investment option than bitcoin. Few Fortune 500 companies and financial trust Ethereum. They recognize it as the de-facto blockchain platform for building next-generation applications and monetary settlements.  For all of these reasons and more, many investors are rapidly adding ETH to their portfolios. But how does one buy Ether? And from where?  Buy Ethereum (ETH) on Crypto Exchanges Probably the easiest way to get some Ethereum network tokens is from a well-established cryptocurrency exchange operating in your country.  ETH enjoys massive popularity within the crypto community due to its demonstrated decentralized use case. Any crypto exchange will surely have Ether listed for buying and selling.  Choosing a Suitable Crypto Exchange While locking onto a particular exchange, some preliminary research needs to be done. Cryptocurrencies by their very nature are assets that come with high risk and equally high rewards. Consequently, the fledgling space also attracts a lot of fraudsters. So, it is mandatory to do your due diligence before picking a platform to buy Ethereum.  Crypto exchanges need to have well-established headquarters a genuine team (probably with a good Twitter, LinkedIn presence), well-responsive support, decent liquidity and security of trading funds, etc. Some well-recognized names are Binance, Bitfinex, Coinbase, Kraken, eToro.  Registering on The Chosen Crypto Exchange After choosing a suitable crypto trading platform, you would be required to register yourself as a legitimate user.  That means you will have to provide a few personal details as KYC (Know Your Customer) which confirms your status as a bonafide citizen of the particular country or state where you reside. This is done by exchanges just so that they are in line with global Anti-Money Laundering (AML) regulations.  After exchange officials verify your details, its time to use your newly opened crypto trading account to buy ETH. But for that, you need to deposit some fiat currency first. This should be relatively easy as all your details (including banking information) were okayed for trading.  Depositing Fiat Funds to buy Crypto Simply add money through your bank account or debit card on file. Cryptocurrency exchanges do not generally have high minimum investments. You can invest as little as $5 or as much as $1,000 or more. This is of course, based on the country or location of your residence, and the official currency in circulation.  Funds generally can some time to appear in the ‘fiat account’ of your chosen crypto trading platform. This depends on the bank and exchange transaction processing speeds, protocols, etc.  Once the fiat deposit happens, you can instantly use it to buy Ether. But remember to go through the current rates and trading volumes.  Buying Ethereum with Stablecoins or Other Crypto Assets In the past 2 years, there has been a gigantic upsurge in ‘crypto-to-crypto’ purchases. The proliferation of fiat-backed stablecoins like Tether (USDT) and rising bank restrictions on crypto purchases with credit/debit cards and wire transfers has led to the same.  It’s very simple buying ETH in a crypto-to-crypto (C2C) arrangement. All you need is some Bitcoin as it is considered the benchmark crypto asset for all C2C transactions or a US dollar-backed stablecoin like USDT or USDC (USD Coin) which is easily available on peer-to-peer trading exchanges. These platforms let users exchange actual fiat with fiat stablecoins, which you can use to buy the Ethereum token.  Withdraw Ether (ETH) into a ‘Private Wallet’  An important step follows your ETH purchase. It’s important that you transfer the funds into a cryptocurrency wallet, which you control. Storing your crypto funds on exchanges is not out of risk. A great lot of them have fallen prey to notorious hacks in the past. The recent one to get hacked was Binance, the largest crypto exchange by trading volume. It shows how unsafe your crypto funds can be, even with dominant trading platforms.  Hence, it is advised to store your crypto on a wallet where you control the private keys. Some examples of companies selling such ‘cold wallets’ are TREZOR, Ledger, KeepKey. Alternatively, you could use software wallets like Exodus, TrustWallet, etc. For Ethereum though, you have something called ‘light client wallets’ which are widely used by ETH investors. They are MyEtherWallet, Atomic Wallet, etc.   The post How to buy and store Ethereum (ETH)? appeared first on Bitcoinist.com.
Bitcoinist

PreMarket Prep Recap: Chuck Talks To TD Ameritrade, Macy's Wins The Retail Limbo

Some deals on Wall Street are rumored and come to fruition, while others come out of the blue and shock everyone. On today's PreMarket Prep Show, reports of the potential acquisition of TD Ameritrade (NASDAQ:AMTD) by Charles Schwab (NASDAQ: SCHW) was scrutinized at the top of the show. Cannibalize The Industry? To co-host Dennis Dick, this deal and price action make no sense at all from an investor standpoint. Certainly the synergies are there for the two companies, but what's puzzling to him is why would investors pay more for Charles Schwab or the combined companies than they would before commissions were eliminated? Obviously he's not the only one asking this question. Both stocks opened at their highs for the session, had steep declines and now are on the rebound. Low Bar Not Low Enough For Macy's To Clear Based on a few of the other retailers that delivered disappointing earnings so far, Macy's (NYSE: M) didn't have high expectations to meet to instigate a rally. ...Full story available on Benzinga.com
Benzinga
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