For the first three quarters of 2018, investors and analysts speculated about when, then if, Bitmain would go public. During a pre-IPO private fund raising, reports leaked out that Bitmain was valuing itself at $15 billion or maybe even $18 billion. During the third quarter bitcoin, which drives industry development, traded at around $6,500, shooting up briefly to the $8,000 range.
Those summer 2018 bitcoin prices were $3,000 higher than current ones. Is it any surprise that Bitmain’s IPO may not launch after all?
I believe I first met Bob Cox sometime in 1975. He was a trainee rotating within various departments of the Continental Bank.
Two years ago I wrote about the Commodity Futures Trading Commission enforcement action against Don Wilson and his company DRW Investments alleging price manipulation in certain financial instruments.
There are traders who put their careers on the line every day in the markets. And then there’s Don Wilson, who put his career and firm on the line in court with the Commodity Futures Trading Commission, and won.