14 Nov Does Big Drop of Major Bitcoin Mining Firm’s US IPO Valuation Show Declining Crypto Sent…
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Crypto market sentiment can be gauged by a number of different factors. In 2018 global regulators stomped all over ICOs which pretty much ended the altcoin run but this year it could be Bitcoin mining giants that signal a waning of interest.
Bitcoin Mining Giant Drops IPO Valuation
A few hours ago it was reported that Canaan Creative has reduced its expected IPO valuation to $100 million. Previous estimates were in the $200-$300 million range to this could be a signal that crypto market sentiment is cooling.
JUST IN
Rekt™ alert 🚨🚨🚨
Canaan Creative @CanaanInc1 updated its IPO file, adjusted the expected raise to $100M, much lower than the anticipated $200-400M range 🥴
AND its lead underwriter Credit Swiss also QUIT … 👀👀👀
— Dovey 以德服人 Wan 🗝 🦖 (@DoveyWan) November 14, 2019
Industry insider Dovey Wan seems to think it does adding the ‘rekt alert’ tag to her post. The Chinese Bitcoin mining giant plans to launch its initial public offering later this…
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