Bitmain’s pre-IPO round of financing may be at risk. Temasek is reconsidering its participation after the Chinese company misrepresented the list of pre-IPO backers. Bitmain set out to seek traditional funding through an initial public offering, creating controversy in the crypto community.
Now, news has surfaced through social media, suggesting the Bitmain pre-IPO financing round may either make it or break it within hours. A Twitter account, @btcking555, retweeted by @WhalePanda, has translated information from Chinese sources:
Bitmain’s IPO round was seen as controversial, and a drive to ensure a form of solvency, especially during the bear market. The sources suggest Bitmain may still have secured funding of around $560 million. Bitmain will file with the Hong Kong Stock Exchange in September, with a listing on the exchange expected at the end of the year, or at …
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