Blockchains and Bagels Daily Market Roundup – 07.27.2018

CoinsquareJuly 27, 2018

Blockchains and Bagels: the morning market update to get you ready for the day ahead. Today, Bitmain commits to transparency with increased disclosures in advance of a planned initial public offering. Tetras Capital releases a short thesis on Ethereum.

Bitmain has released mining data in a move toward greater transparency ahead of its planned IPO

The mining hardware maker and mining pool operator will increase its disclosures in advance of its initial public offering. The miner will disclose the algorithms it is mining and the total hash rate on each. The company reiterated its stance against secret mining, a practice where a hardware manufacturer uses the technology to mine before public release.

Tetras Capital releases 41-page short view on Ethereum

Tetras Capital, a New-York based hedge fund, has published a short view on ether. The company believes the digital asset is overvalued citing scaling issues and an inability to overtake bitcoin as a store of value.

Galaxy Digital reports US$134 million loss in first-ever financial disclosure

Galaxy Digital reported a US$13.5 million realized loss on digital assets and a US$85.5 million market-to-market loss on its current holdings. Galaxy Digital completed a reverse-takeover of Bradmer Pharmaceuticals late last year as bitcoin reached all-time highs.

The State Securities Commission of Vietnam bans financial companies from using digital assets

The Vietnamese securities regulator has banned public companies, securities companies, fund managers and investment funds from issuing, transaction or brokering any activities related to digital assets. The regulator has increased scrutiny amid fraudulent ICO activities.