Blockchains and Bagels: the morning market update to get you ready for the day ahead. Today, Bitmain is rumored to close its latest funding round at a US$12 billion valuation. Huobi eyes expansion into Australian.

Bitmain reaches a US$12 billion valuation in the latest funding round

Bitmain is reported to have closed a Series B round of funding to raise an estimated US$300-400 million in equity. Notable names included Sequoia Capital China and EDBI. This round of funding would bring the company’s valuation to US$12 billion.

Huobi continues its global expansion with an office in Australia

The Chinese exchange will open operations in Australia, beginning with ten pairs crossed against the AUD. The company is funding its development with its US$200 million Global Ecosystem Fund.

The Swiss stock exchange announces plans to build a digital currency exchange

The SIX, the operator of the Swiss stock exchange, announced the intention to build the infrastructure necessary for a fully integrated digital asset exchange. This would include functions for trading, settlement and, custody.

The Australian government partners with IBM for technology services including blockchain

The Australian government announced a US740 million agreement to take on IBM as its technology partner. The deal covers services including automation and blockchain implementations. The contract spans five years and will support a wide range of federal departments.

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