Bitmain’s IPO Turning Controversial, Company’s False Claims Building Up

News
Wed, 08/22/2018 - 08:37
Yuri Molchan
The world’s largest producer of mining chips has been frequently on the news due to the reports regarding its claims about companies taking part in the coming IPO
Cover image via U.Today

The world’s largest producer of mining chips founded and run by Jihan Wu has been frequently on the news for the past week due to the reports regarding its claims about large companies taking part in the coming IPO as pre-investors.

Nevertheless, the Chinese giant Tencent and SoftBank Group that were reported to be among those investors, are publicly denying their involvement.

The crypto community starts expressing their doubts regarding the scheduled IPO, besides, some are wondering why Bitmain is showing potential investors only their financial results for Q1 2018, flooding the social media with skeptical comments.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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