BitMEX & Madison Wine to Acquire BitOcean

Madison Holdings Group, listed in Hong Kong, plans to acquire 62.7% of BitOcean shares for 1.68 billion yen ($ 15.12 million) from their current holders
26 December 2018   974

BitMEX cryptocurrency exchange and the French wine company Madison Holdings Group intend to jointly receive a majority stake in the Japanese licensed BitOcean exchange, Cointelegraph reports.

Madison Holdings Group, listed in Hong Kong, plans to acquire 62.7% of BitOcean shares for 1.68 billion yen ($ 15.12 million) from their current holders, plus an additional $ 15 million to cover related costs. According to the information available, the transaction has not yet been completed and is being carried out through a unit called Madison Labs.

The BitOcean Exchange is officially registered by the Japanese regulator, however at present it does not serve trades.

At the same time, sister company BitMEX HDR Cadenza Management is negotiating with Madison Labs to acquire 51% of its shares for $ 17.14 million, reports the South China Morning Post (SCMP). If both deals are completed, BitMEX will become the indirect owner of BitOcean.

Madison is one of the largest wine companies in the world with a capitalization of $ 534 million. Its leaders said they are investing in the cryptocurrency sector to diversify their own business. But Madison’s wine business is stable and profitable, it is hard to scale.

This is why we have to diversify into financial technology and the cryptocurrency business — to achieve a better return for our shareholders.

Raymond Ting Pang-wan

Chairman, Madison

At the same time, they are optimistic about the prospects of the market and their new enterprise. Arthur Hayes, CEO of BitMEX, believes that Ethereum will reach $200 as ICOs gain popularity again.

DEAPCOIN IEO to be Held at OKEx on 8.04

The project is planning to raise $2M a the price of 1 DEP on IEO will be $ 0.0025
25 March 2020   1065

OKEx Exchange announced Wednesday the 11th initial exchange offering (IEO). It will be conducted by the DEAPCOIN Project (DEP) and will be held on April 8th.

As in previous OKEx campaigns, the selection of participants and the selection of the allocation coefficient will be carried out according to two criteria: the average daily balance of OKB and the trading volume on the exchange. For each of the groups, allocation of 400 million DEP tokens is allocated.

The price of 1 DEP on IEO will be $ 0.0025. Thus, the project intends to attract up to $ 2 million from OKEx users. Trading in USDT and USDK pairs will start on the same day.

The DEP token was released by DEAPCOIN to shape the economy around the PlayMining entertainment platform they are developing, where users can earn cryptocurrency during games. DEP is presented as an ERC-20 standard token, while game items on the blockchain will use the ERC-721 standard.

Despite the generally negative dynamics of the IEO space recently, the token of the previous placement of the OKEx platform - HyperDAO - that passed at the end of February is currently trading almost 3 times higher than the initial selling price.