Top stories in today’s Crypto Roundup:

• Bitmain files for US IPO with SEC with Deutsche Bank as the sponsor
• OKEx Launches Crypto Futures Settled in Tether Stablecoin
• Chinese Official Slams Libra, Says Central Bank will Issue Digital Currency First

Bitcoin started to slide toward the $9,200 level last night, while most of the top cryptoassets have held relatively steady since the market-wide rally over the weekend. 

At the time of writing, bitcoin (BTC) is trading at $9,206 (–2.49%) with a daily trusted volume of $1.93 bn. As for ether (ETH), it is trading at $186.26 (-0.02%) with a daily trusted volume of $306.93 mn. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 3,172.70 (-0.60%).

Bitmain files for US IPO with SEC with Deutsche Bank as the sponsor

Bitmain Technologies has reportedly filed an initial public offering (IPO) application in the U.S. with the U.S. Securities and Exchange Commission (SEC). According to Tencent News,  Deutsche Bank is acting as the IPO sponsor. 

It is unclear how much Bitmain is looking to raise but in June Bloomberg reported that Bitmain was seeking a $300-$500 million raise. As reported in yesterday’s ‘Crypto Roundup’ Bitmain rival Canaan Creative also filed for a U.S. IPO, aiming to raise $400 million.

OKEx Launches Crypto Futures Settled in Tether Stablecoin

Crypto exchange OKEx is launching a range of cryptocurrency futures contracts that can be settled in Tether (USDT), the leading dollar-backed stablecoin. OKEx claims that these new ‘linear futures’ will be easier for beginner traders to understand.

“Most of the time, users are not willing to hold altcoins as margin, and they also see inverse contracts itself are complicated to understand. We see this linear contract would be an open door to many new retail traders,” said OKEx’s financial market director, Lennix Lai.

According to CryptoCompare’s September 2019 Exchange Review, OKEx was the top crypto derivatives exchange in the month of September, trading a total of $90.3 billion in total.

Chinese Official Slams Libra, Says Central Bank will Issue Digital Currency First

High-ranking Chinese official Huang Qifan believes that Facebook's Libra is doomed to fail and that China’s central bank will be the first to issue a digital currency. According to a Chinese media report, Qifan said that “it is highly likely that China’s central bank will be the first to issue a national digital currency.”

Qifan also took aim at Facebook’s digital currency Libra, the Chinese official believes that the crypto will ultimately fail, as it lacks the support of real sovereign wealth: 

“I personally don’t believe Libra will succeed. Some companies attempt to challenge sovereign currency by issuing bitcoin or Libra. The decentralized blockchain-based currencies are not supported by sovereign credit and hard to become real wealth.

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