BitKan to Raise $10M in a Series B Funding Round

The round was led by Zhongyunhui Capital, IDG Capital and Bitmain
04 April 2018   686

Based in China's Shenzhen, the start-up BitKan attracted an investment of $ 10 million during series B financial round, reports CoinDesk.

The round was headed by the Chinese financial company Zhongyunhui Capital. Among other participants - IDG Capital and the world's largest manufacturer of mining equipment Bitmain. The latter had already invested in this start-up - in the spring of 2016, during the series A r financing round, the Chinese giant invested $ 1.6 million in BitKan.

According to representatives of BitKan, the funds raised will be used to expand the business and create a platform called K Site, the beta version of which is scheduled for April 20.

The new service is a platform where users exchange their generated content for KAN tokens. According to representatives of BitKan, the site will mark a step towards a higher quality of content and will be of great importance in an environment filled with "fake ICO and scams".

Free content can only attract page views, but putting up a paywall can improve content quality considerably.
 

Yu Fang

CEO, BitKan

As part of the expansion of its operations, the company also plans to open offices in Hong Kong, Singapore and Tokyo.

The BitKan platform was founded in 2012. Initially, the startup specialized in over-the-counter trading operations, providing data on the prices of cryptocurrencies an wallets.

SEC to Need More Info on BTC ETF

SEC is gathering more input from the public – to date, according to the agency, more than 1,400 comments have been submitted
21 September 2018   134

The US Securities and Exchange Commission (SEC) announced the beginning of a formal process for considering the application for the creation of bitcoin-ETF from the New York companies VanEck and SolidX. Nevertheless, the agency appealed to the community for more information. This is stated in the document published on the SEC website.

Institution of such proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change. Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, as described below, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.
 

The US Securities and Exchange Commission

At the moment, the SEC received about 1,400 comments.

According to the document, the Chicago Board Options Exchange (CBOE) has signed an agreement on the exchange of data on bitcoin transactions, trading and the state of the market with the cryptocurrency trading platform with Gemini.

The agency asked commentators to clarify the position of Gemini in the digital currency market and assess the likelihood of increased volatility at this site in connection with possible trades of bitcoin-ETF.

So, before September 30, the department had to decide on whether to approve, deny or initiate the proceedings. The SEC chose the latter, which is likely to delay the process until the next year.