Major crypto/blockchain news of the day summarized in a way that you don’t miss a single news without having to spend a lot of time.
1. Bitcoin Miner Maker Canaan Sets $100 Million Target for US IPO
Canaan, the world’s second-largest bitcoin miner maker, intends to raise about $100 million in its initial public offering (IPO) in the U.S. The Hangzhou, China-based manufacturer of the Avalon bitcoin miner updated its IPO application with the U.S. Securities and Exchange Commission (SEC) on Wednesday. It’s aiming to offer 10 million American depositary shares (ADS) with each at a price of between $9 and $11.
2. Crypto.com Grows Offerings With New Exchange and Fundraising Platform
Crypto.com announced the launch of a new exchange Thursday, in an expansion of the Hong Kong-based firm’s list of crypto services.The exchange opens up to beta testers Nov. 18 and to the wider public in December, according to a press release. The exchange will offer three trading pairs, matching CRO – the Crypto.com token – tether (USDT) and bitcoin (BTC) against BTC, ether (ETH), stellar (XLM), XRP, EOS, litecoin (LTC), MCO, CRO and USDT.
3. Coinbase Expands Reach of Visa Card in Europe, Adds 5 New Cryptos
Coinbase has added support for five new crypto options to its Visa debit card, and also expanded availability to 10 more European nations. The U.S.-based cryptocurrency exchange announced Thursday that holders of the card can now spend XRP, basic attention token (BAT), augur (REP), 0x (ZRX) and stellar (XLM). The new options come in addition to the currently offered bitcoin (BTC), ether (ETH), bitcoin cash (BCH) and litecoin (LTC).
4. ‘Unknown Fund’ to Donate $75M in Bitcoin to Crypto, Anonymity-Focused Startups
An anonymous organization dubbed “Unknown Fund” is planning to give away $75 million in Bitcoin (BTC) to startups that are focused on anonymity and the protection of personal data. In a press release on Nov. 13, the organization — which consists of “ordinary, anonymous people from different countries” — said it will donate the money to startups which support the idea of anonymity and specifically operate in such fields as the protection of personal information, tools of anonymity, cryptocurrencies and blockchain.
5. Blockchain.com Loan Desk On Track to Lend Over $120 Million in November
United Kingdom-based cryptocurrency data and wallet provider Blockchain.com is reportedly on track to lend out more than $120 million this month.On Nov. 14, the Block reported that Blockchain.com has been quietly building its loan desk to be competitive with firms like Genesis Global Trading and BlockFi.
CEO of Blockchain.com, Peter Smith, said that his lending business initially started out by making loans to other cryptocurrency lending firms on a “case-by-case basis.” While the company lent out around $10 million in new loans during the month of August, by the end of November the firm is expected to be on track to lend out $120 million.