GMO Internet to Report $22M Crypto Profit

According to the report, in October, the services of the GMO Coin cryptocurrency exchange were used by over 200,000 people
13 November 2018   808

Japanese IT giant GMO Internet reported that in the third quarter it earned an all time high 2.6 billion yen ($ 22.8 million) through the production of mining equipment and a cryptocurrency exchange. This is stated in the company's report.

According to the document, in October, the services of the GMO Coin cryptocurrency exchange were used by over 200,000 people, and the volume of trading amounted to about 89 billion yen ($ 781 million). It also says that the company's revenues in the cryptocurrency sector grew by 34.4% compared with the previous quarter.

Although revenues from mining equipment fell in the second and third quarters, they nevertheless increased in the third. According to GMO, in October its hashrate will be 674 PH / s, but the company plans to increase this value to 800 PH / s by the end of the year.

Kraken to Raise $13.5 Thru BnkToTheFuture

2,263 people with an average investment of $100.000 took part in crownfunding campaign, which became record for the platform
25 June 2019   165

The US Bitcoin exchange Kraken raised $ 13.5 million through the sale of private equity through the investment platform BnkToTheFuture (BF). This was the most successful round of financing from individual investors in the history of BF, reports CoinDesk.

So, in total Kraken crowdfunding campaign was attended by 2,263 people with an average investment of $ 100 thousand. The funds raised are probably used by the exchange to make new acquisitions.

It is noteworthy that BF created a subsidiary, which became the recipient of individual investments in order to subsequently act as a single investor for Kraken. This allowed the exchange to bypass the requirements of the US Securities and Exchange Act and not to go to an IPO.

It is noteworthy that Kraken initially intended to raise $ 10.2 million, but the demand for its shares turned out to be higher and the exchange extended the fundraising period.

According to Kraken's own estimates, its capitalization is $ 4 billion.

Earlier this year, the exchange also acquired Crypto Facilities, a trading platform for cryptocurrency derivatives, expanding the range of services offered.