Ex Bitmain Head May Launch OTC Platform

Some experts says China may provide a new startup called Matrix with a monopoly right to trade in digital assets
06 June 2019   411

According to The Block, by the end of July, Jihan Wu intends to launch a startup Matrix, specializing in over-the-counter trading, lending and custodial solutions.

According to Chinese sources familiar with the situation, Bitmain will be the key partner of Matrix. Earlier, the Chinese giant contributed to the development of a startup.

Put it this way, they will be the biggest OTC desk and asset-manager [in the world] overnight. With liquidity like that, [low] prices follow. [Matrix should have a competitive advantage in the region as the Asian market is] a lot more price sensitive.

Source which works closely with investors in Asia

Also Matrix will provide Bitmain custody and landing services.

Due to the ban on trading in cryptocurrencies in China, Matrix is ​​likely to be registered in another jurisdiction. However, some experts do not exclude that the authorities of the People's Republic of China with the aim of dedening the industry may provide a new startup with a monopoly right to trade in digital assets.

Due to disagreements on key issues, Bitmain founders Jihan Wu and Micree Zhan left executive positions, but reserved the right to make important strategic decisions.

Argo Blockchain to Implement 1000 New Miners

It is worth noting that Argo Blockchain shares are traded on the London Stock Exchange
20 September 2019   94

Argo Blockchain, a British mining company, has installed 1,000 new ASIC miners. Now the company has 6,000 devices.

According to the Proactiveinvestors portal, over the next two quarters, the company will acquire another 6,000 bitcoin miners.

Argo Blockchain shares are traded on the London Stock Exchange (LSE). Against the backdrop of a bullish rally of bitcoin, this year they grew by 193% - from £ 3.2 in early April to £ 9.5.

In the second quarter financial report, the firm reported a substantial increase in revenue. Its representatives are also interested in placing a farm on 2500 devices in the Canadian province of Quebec.

On September 19, the total computing power of the bitcoin network crossed the line of 100 EH / s.