DST Global Investment Firm Rejects Notion of Bitmain IPO Involvement
DST Global, an investment firm, stated in an email to Cointelegraph on August 21, that it “has never invested” in cryptocurrency the Bitmain Pre-IPO. To further support DST Global’s contentions, Contelegraph also received an anonymous tip on the same point, stating that “I can confirm that DST has never invested in Bitmain.” These occurrences are contrary to reports of DST Global’s participation.
This news comes after Uber’s largest investor, Softbank, reported to Cointelegraph that report about its participation in Bitmain’s IPO were false. An Uber spokesman stated, “Neither the SoftBank Group Corp. nor the SoftBank Vision Fund were in any way involved in the deal.”
Moreover, multinational Chinese company Tecent denied involvement in the Bitmain IPO as well. The company confirmed its non-involvement, stating that it “did not take part in the investment of Bitmain’s Technologies.”
At this point, Bitmain’s IPO plans are quite controversial – they center on the company’s Bitcoin Cash (BCH) holdings, which are rumored to have poor Q2 sales and to be generally underperforming in the cryptocurrency markets.
The cryptocurrency industry and well-known members reacted to the pre-IPO investor’s desk disclosure earlier this month. Blockstream CSO Sam Mow stated that the planned flotation is “incredibly risky for any investor to buy into.
” Another commentator from WhalePanda added during a Twitter debate, “They purposely didn’t include the Q2 numbers for Pre-IPO since they were a disaster . . . They told Pre-IPO buyers they would use some of the money to buy more BCH.”
Bitmain has not commented on the matter.