• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo

Chinese Crypto Exchanges Seek Backdoor Listings in Hong Kong

Martin Young by Martin Young
2 years ago
in Uncategorized
Reading Time: 2min read
hong kong
Advertisement
Nexo Logo
Listen to Article

As the bear market continues with no signs of a change in trend crypto exchanges and mining giants in China seek ways to stay afloat. One method which has been increasing is a reverse merger in Hong Kong as IPO hopes fade.

Reverse Mergers Becoming The Easy Route

Hong Kong regulators are growing increasingly wary of Chinese crypto firms trying to get listed to avoid the digital blackout in their own country. According to the SCMP, citing ‘people familiar with the matter’, chief executive of the Hong Kong Exchanges and Clearing, Charles Li Xiaojia, said companies seeking to go public should show consistency in their business models. The comments are in direct reference to media comments on high profile IPO plans from Bitmain, Canaan and Ebang, though he did not mention them specifically.

It appears that reverse mergers are becoming a popular way to get listed without going through the IPO process which can be lengthy and arduous. As recently reported by NewsBTC Singapore’s Blockchain Exchange Alliance has attempted a similar technique for its majority owned Korean exchange Bithumb by buying out a US publicly listed blockchain company. If Bithumb, currently the top crypto exchange by reported volume at $1.3 billion, did get listed in the US it would be the first crypto exchange to do so. Mike Novogratz did something similar with Galaxy Digital on Canadian markets after a reverse merger with publicly listed shell company Bradmer Pharmaceuticals.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Last week OKC Holdings Corp, the parent company of OKCoin, bought a controlling share in Hong Kong-listed construction engineering firm Leap Holdings Group. The reverse merger allows the crypto exchange to get a ‘back door listing’ without going through the IPO procedure.

Chinese cryptocurrency exchange Huobi has made a similar move when it purchased a 66% stake in Hong Kong listed Pantronics Holdings in August last year. These reverse mergers have become the method of choice to get a relatively easy listing in the wake of tumbling profits as the bear market drags on. Cryptocurrency analyst with Beijing-based research firm Symbt, Xiao Lei, said;

“Hong Kong is one of the easiest markets for reverse IPOs, because there are many small-cap stocks,” before adding “It did not go well for hardware manufacturers like Bitmain to go public, what more for companies directly dealing with cryptocurrency trades,”

The year-long crypto bear market is showing no signs of abatement and if industry analysts are correct there is more pain to come for cryptocurrencies and blockchain companies.

Image from Shutterstock
Tags: Bitmainhong konghuobiIPOokcoinreverse merger
TweetShare26
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Martin Young

Martin Young

Martin is a Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 20 years working in web technology and media.

Related Posts

RAMP DeFi Leads The Liquid Staking Race, Opening Ethereum-Based DeFi to Staked Liquidity From Other Blockchains

RAMP DeFi Leads The Liquid Staking Race, Opening Ethereum-Based DeFi to Staked Liquidity From Other Blockchains

19 mins ago
Ethereum

Ethereum Signals Bullish Breakout, Why ETH Could Hit New ATH Soon

59 mins ago
Bitcoin

Bitcoin Struggles Below $38K, Why BTC Could Dive To $32K

2 hours ago
Ethereum

Ethereum is On the Brink of Setting Fresh All-Time Highs as Bulls Take Control

9 hours ago
router

Emerging DeFi Project Router Protocol Raises Seed Funding, To Launch Cross-Chain Farming Soon

18 hours ago

Why This Analyst Expects Bitcoin Price Consolidation After the Recent 15% Drop

1 day ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Introducing ethrift.io Non-Custodial FIAT Ethereum Gateway

January 16, 2021

SV-based Taraxa Revolutionizes Legacy Data Auditing With Mathematically Provable Audit Trails

January 15, 2021

Kickoff Your DeFi Journey With YOYO FINANCE – Their Token Sale Is Live

January 14, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.