The cryptocurrency market is currently in the midst of a major sell-off, with Bitcoin, Ethereum, and virtually all altcoins plummeting in value. The loss of over $40 billion from the cumulative cryptocurrency market cap over the last week hasn’t deterred some of the largest companies in the blockchain industry from looking toward the future, however, with major trading platforms announcing plans to go public.
Bitcoin Mining Giant Bitmain Announces Potential Hong Kong IPO
Related: Bitmain Announces Potential Hong Kong IPO
Rumors of IPOs from cryptocurrency platforms such as Binance, Bitmain, and Robinhood have captured the attention of crypto investors and traditional market investors alike over recent months. Cryptocurrency mining giant Bitmain hinted toward a Hong Kong-based IPO in June, potentially following in the footsteps of competitor Canaan Creative, who filed for a $1 billion Hong Kong-based IPO in May.
Major mining companies may be ready to launch within the traditional stock market, but cryptocurrency exchange platform Binance remains hesitant. Responding to community speculation regarding the recent addition of a new CFO to the Binance executive team, Binance CEO Changpeng Zhao has officially stated that the exchange has no plans to launch an IPO.