firms refused IPO

Incorrect Media Reports About Bitmain’s IPO Pushes Investment Firm To Deny Ties

There’s no denying that Bitmain is the biggest and most lucrative conglomerate in the history of cryptocurrency. This 5-year-old billionaire mining king has attracted some of the largest investors in the world. But the recent controversies about the latest funding of Bitmain’s IPO has questioned this Unicorn Mining Giant if it’s misleading the investors.

However, all the credit of this controversy goes to media. It was media that drew our attention to Temasek being one of the principal investors in Bitmain pre-IPO funding round. It was reported that the firm’s investment commitments for the pre-IPO allegedly totaled $560 million.

Let’s hear what Temasek has to say about media reports –

“We got to read the commentary about an IPO involving Bitmain. News reports about our involvement in this investment are completely false.”

Temasek has wholly denied being an investor in Bitmain. According to the reports, this holding company (Temasek) has never discussed with a cryptocurrency company, Bitmain.

Temasek was just one example in this regard. There are some other investment companies which denied to have any involvement with this cryptocurrency giant.

According to the reports, Bitmain previously made claims to high-profile investors in its pre-IPO. It allegedly claimed to have an investment of %15 billion valuations in the first half of the August that included the participation of some high-profile investors including Japan’s SoftBank, investment firm DST Global and Chinese tech conglomerate Tencent.

Among the 3, SoftBank and DST Global have denied their participation of backing Bitmain’s IPO.

Kenichi Yuasa of Corporate Communication Office of SoftBank has said that “Neither of SoftBank firms was involved in the deal in any way”.

Managing director of DST Global, John Lindfors, stated that he could confirm or not making any investment with Bitmain IPO funding round.

Despite the statements to the contrary, we have not received any response from Bitmain IPO. Response from this cryptocurrency giant is still awaited, which will make the things clear to everyone.