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Bitcoin Miner Manufacturer Ebang Prepares to Launch Exchange in Singapore
Summary: In an August 13 press release, Ebang announced that it has established a wholly-owned subsidiary in Singapore in order to launch a cryptocurrency exchange platform. The China-based Nasdaq-listed Bitcoin miner manufacturer cautioned, however, that it is still possible to be denied approval or license by regulators, reminding its shareholders not to “place undue reliance on ...
In an August 13 press release, Ebang announced that it has established a wholly-owned subsidiary in Singapore in order to launch a cryptocurrency exchange platform.
The China-based Nasdaq-listed Bitcoin miner manufacturer cautioned, however, that it is still possible to be denied approval or license by regulators, reminding its shareholders not to “place undue reliance on this press release”. Regardless, EBON stock sees an increase of 35% at the opening.
Ebang’s plan follows after its competitor Bitmain’s spin-off Matrixport launching the crypto derivatives exchange bit.com. Ebang has suffered a net loss of $11.8 million in 2018 and $41.1 million in 2019.
By Lily Yang
Tags: Bitcoin,Bitcoin Mining,Bitmain,Ebang
Link: Bitcoin Miner Manufacturer Ebang Prepares to Launch Exchange in Singapore [Copy]
