Bitmain to Invest $3M in Fraud-Fighting Startup

The tribeOS platform runs on Bitcoin Cash blockchain and specializes in developing solutions to counter fraud in the advertising business
09 August 2018   597

The Chinese manufacturer of mining equipment Bitmain invested $ 3 million in the tribeOS startup.

The tribeOS platform runs on Bitcoin Cash blockchain. Startup specializes in developing solutions to counter fraud in the advertising business.

It is known that advertisers annually lose about $ 19 billion due to falsifications of statistical data and traffic.

As the developers stated, the automated digital media market with solutions from tribeOS will start operating in 2019.

Also, tribeOS, together with the Bermuda Business Development Agency
intends to create a FIRE token with the help of Bitcoin Cash. Among the startup advisors is the ardent supporter of the Bitcoin Cash fork, Roger Ver and the senior software engineer at Coinbase, Josh Ellitorp.

Bitmain to File IPO Application

The application was sent to Hong Kong Stock Exchange (HKEX)
27 September 2018   436

The largest mining company Bitmain has submitted to the Hong Kong Stock Exchange (HKEX) listing application for an initial public offering (IPO), according to CoinDesk.

The application is a draft option, and some of its details, in particular the number of shares offered for sale and the immediate date of the IPO, are still in the process of editing.

Nevertheless, the document indicates that last year Bitmain's revenue was $ 2,517,719,000. This figure is higher than in 2016 ($ 277,612,000). As of June 30, 2018, the company's revenue was $ 2,845,467,000.

The application said that in 2017 the gross profit of the company was $ 1 212.7 million, which is also higher than in 2016 ($ 151,351,000).

Earlier, the head of Bitmain, Jihan Wu, expressed his indignation over the actions of the company's chief financial officer, who disclosed the figures for the first quarter 60 days after his end, and not after 90, as he had expected.

The media suggested that in the run-up to the IPO the publication of such information could have a negative effect on the company's investment attractiveness.

In addition, the document confirmed the media's information that Bitmain owns a 3% stake in Opera's Internet browser thanks to an investment of $ 50 million.

The application also indicates that the underwriters of the IPO are China International Capital Corporation Hong Kong Securities Limited, Commerce and Finance Law Offices, Maples and Calder LLP, KPMG and Frost & Sulliva