Point Roberts, WA and Delta, BC - April 14, 2021 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today's edition of the Crypto Corner podcast and commentary on what's driving cryptocurrency stocks and the crypto market.
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Crypto Corner Podcast 569: Stocks discussed: (NasdaqGS: ) (NasdaqGS: ) (TSXV: .V)
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Crypto Corner Episode 569: Coinbase Lists on Nasdaq, Bitcoin and Ether Hit New ATHs Again, Future FinTech to Acquire 51% of Mingtang Network, and Neptune Digital Assets Announces $40M Private Placement
Stocks discussed: (NasdaqGS:COIN) (NasdaqGS:FTFT) (TSXV:NDA)
Today, crypto exchange giant Coinbase has listed on the Nasdaq under the ticker symbol COIN . The company's Co-founder and CEO, Brian Armstrong, wrote in a company blog post today:
Today's listing is a milestone, but it's not as important as every new day in front of us. Coinbase has an ambitious mission: to increase economic freedom in the world. Everyone deserves access to financial services that can help them build a better life for themselves and their families. We have a lot of hard work to do to make this a reality.
We're still in the early days of this industry, but we're squarely focused on the future, on our mission, and on building the best crypto experiences for you, our community.
Cointelegraph reports that the stock has received a reference price at $250 from Nasdaq ahead of its direct listing. The reference price is not a direct indicator of Coinbase's market cap, on account of it being a direct listing as opposed to an IPO. The Cointelegraph piece quotes an official announcement:
"Please note that the reference price is NOT an offering price and nobody has purchased or sold shares at that price. The opening public price will be determined based on buy and sell orders in the opening auction on Nasdaq."
Continuing from yesterday, the crypto market is seeing some major rallies this morning, with Bitcoin ( BTC ) and Ether ( ETH ) both recording new all-time highs. Bitcoin peaked at $64,860 earlier today and is trading for about $63,625 at press time, according to data from CoinMarketCap . Ether peaked at $2,398 earlier and is trading for roughly $2,350 at press time. This is, perhaps unsurprisingly, being widely attributed, at least in part, to the hype surrounding the aforementioned Coinbase listing.
Blockchain-based e-commerce business and a fintech service provider Future FinTech Group Inc. ( NasdaqGS:FTFT ) has signed an equity acquisition framework agreement to acquire a 51 percent equity interest in Mingtang Network Technology Co., Ltd. According to the press release, Mingtang, which is based in China, "operates a cryptocurrency mining farm that integrates big data collection, cloud storage and advanced computer software and hardware operations into an industrial system of data analysis and information storage." Future FinTech CEO, Shanchun Huang, said:
"We are excited about the cryptocurrency mining farm sector and believe that it will continue to achieve further growth and real-world economic viability. We intend to continue to purchase cryptocurrency mining machines, make additional acquisitions of cryptocurrency mining farms and promote the development of secure and evolutionary cryptocurrency applications. Our goal is to become one of the world's leading cryptocurrency mining enterprises."
Neptune Digital Assets Corp. ( TSXV:NDA ) has announced a private placement for $40 million CAD with institutional investors. According to the press release, net proceeds are anticipated to go toward "the development of a 5MW clean tech Bitcoin mining facility, purchase of ASIC Bitcoin mining machines, Proof-of-Stake investments and general and administrative expenses."
Sam Mowers, Investorideas
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