Crypto Firms Secure Funding and Expand Offerings with New Derivatives Products
Crypto Firms Secure Funding and Expand Offerings with New Derivatives Products
Canaan, a prominent Bitcoin mining machine manufacturer, has successfully raised $72 million from major investors including Brevan Howard and Galaxy Digital. In parallel, crypto exchange Gemini is reportedly preparing to launch prediction market contracts, following its earlier filing to establish a derivatives exchange, signaling a diversification in available trading instruments.
Canaan Raises $72 Million from Top Investors
Bitcoin mining hardware maker Canaan has announced a successful funding round, securing $72 million from notable investors such as Brevan Howard and Galaxy Digital. The deal involved the issuance and sale of approximately 63.7 million American depositary shares (ADS) at a price of $1.131 per ADS, bolstering the company's financial position.
Gemini Preparing to Launch Prediction Market Contracts
Crypto exchange Gemini is reportedly gearing up to introduce prediction market contracts, according to Bloomberg. This move comes after the exchange filed in May to launch a derivatives exchange, a platform that is expected to facilitate the trading of various prediction market instruments, expanding Gemini's product offerings.