Tag: Stock

Canaan stock surges over 25% on record US Bitcoin mining rig order

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Canaan Inc. shares jumped more than 26% in early trading Thursday after the crypto mining firm landed a 50,000-rig order. Canaan said that a US-based company purchased the latest-generation “Avalon A15 Pro” mining machines, an institutional-grade Bitcoin mining rig. The buyer was not disclosed, but the sale was reported as Canaan’s largest in over three years. The company’s CEO, Nangeng Zhang, said the sale highlighted both companies’ “confidence in the long-term growth” of Bitcoin mining and the “demand for highly efficient, next-generation infrastructure.” According to the Hashrate Index, the United States…

Bombay Stock Exchange rejects company listing for crypto investments

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Key Takeaways Bombay Stock Exchange (BSE) denied Jetking Infotrain’s listing because the company planned to invest 60% of raised funds in virtual digital assets, mainly Bitcoin. Indian regulatory framework allows companies to use profits for crypto purchases but not public fundraising for such investments. Share this article The Bombay Stock Exchange denied Jetking Infotrain’s listing application after the IT training company disclosed plans to allocate around 60% of raised funds to virtual digital assets as a treasury strategy. Jetking, which planned to raise over ₹6 crore through share sales, intended…

ARK Invest Buys BitMine and Bullish Stock Across Flagship ETFs

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Cathie Wood’s ARK Invest has continued its crypto stock shopping spree, adding more shares of BitMine Immersion Technologies and crypto exchange Bullish across its flagship ETFs. According to trade disclosures from Friday, ARK’s Innovation ETF (ARKK), Next Generation Internet ETF (ARKW), and Fintech Innovation ETF (ARKF) collectively bought over 387,000 shares of BitMine and 144,000 shares of Bullish. Based on recent market prices, the purchases amount to roughly $16 million in BitMine and $7.5 million in Bullish stock. The biggest BitMine buy came from ARKK with 257,108 shares, followed by…

ARK buys $246M of Coinbase stock, adds COIN to three ETFs

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Three exchange-traded funds offered by Cathie Wood’s ARK Invest purchased 749,205 shares in Coinbase Global, Inc (COIN) worth roughly $246 million combined. The ARK Innovation ETF (ARKK) now holds 512,535 COIN shares, while the ARK Next Generation Internet ETF (ARKW) purchased 147,081 shares, and the ARK Fintech Innovation ETF (ARKF) bought 89,589. ARK’s funds were not the only ETFs accumulating COIN, with the Amplify Transformational Data Sharing ETF (BLOK) also getting in on the action. BLOK is among the most active ETFs in the crypto space, with seven of its…

Coinbase stock looks to find its footing at $350 following explosive open

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Shares of digital currency exchange Coinbase (COIN) opened at $381 Wednesday — significantly higher than its pre-listing reference price of $250 — underscoring heightened institutional demand for the crypto-focused stock.  The $381 value put Coinbase’s market capitalization at $99.6 billion on a fully diluted basis. The stock peaked at $429.54 for a gain of 71.8% from the original reference price. It was last seen trading around $350, having gained 43%, according to Yahoo Finance data. It was a volatile first hour of trading for Coinbase as the cryptocurrency exchange went public. The stock…

German digital stock exchange will list physical Litecoin ETP

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London-based ETC Group, the firm responsible for listing the first crypto exchange-traded product on Germany’s Xetra digital stock exchange, will offer a new listing for Litecoin. In an announcement today, the ETC Group said its physical Litecoin exchanged-traded crypto, under the ticker ELTC, will be launching on Deutsche Börse Xetra on April 14. According to the firm, the exchange-traded product, or ETP, will be the first Litecoin (LTC) product on the exchange following approval from Germany’s Federal Financial Supervisory Authority, or BaFin. “The current economic uncertainty has underlined the attraction…

New York Stock Exchange Launches First Trade NFTs

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Key Takeaways The NYSE has created a series of six NFTs to commemorate the first trades of various stocks. The lineup includes tokens related to Spotify, Unity, Roblox, DoorDash, Snowflake, and Coupang. The NFTs are listed on Crypto.com’s NFT trading platform. Share this article The New York Stock Exchange (NYSE) has launched a series of crypto collectibles, also called non-fungible tokens or NFTs. Tokens Commemorate First Trades The exchange has created six tokens that commemorate the first listings of publicly traded companies. NYSE president Stacey Cunningham wrote in an announcement:…

Major Swiss Stock Exchange SIX Lists the World’s First Crypto ETP Amidst Market Collapse

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Switzerland‘s principal stock exchange SIX Swiss Exchange will list the world’s first crypto-based exchange-traded product (ETP) next week, the Financial Times (FT) reported Saturday, Nov. 16. Backed by the Swiss startup Amun AG, the first global crypto ETP will be listed under index HODL, and will track five major cryptocurrencies: Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). According to the article, each cryptocurrency will acquire a certain market share within the upcoming ETP, with Bitcoin accounting for around half of the ETP’s assets. The rest…

Singapore’s Central Bank, Stock Exchange Settle Tokenised Assets on a Blockchain

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Twitter Facebook LinkedIn In a blockchain breakthrough, Singapore’s central bank and the country’s primary stock exchange have successfully developed an automated method for rapid settlements of tokenized assets. In an announcement on Sunday, the government of Singapore announced the successful development of a Delivery versus Payment (DvP) mechanism – powered by smart contracts – for settlement of tokenized assets over different blockchain platforms. As reported by CCN in August, the joint endeavor was built upon the blockchain developed by the central bank’s effort to tokenize the Singaporean dollar into a…