#Tether, a company whose capital probably comes from #China and which earns 5% interest on ~$100 billion for doing nothing, has been branching out and investing in:

1. a chinese bitcoin transaction processor (some call them "miners") manufacturer #Bitdeer

2. random agriculture companies in argentina with a sub 3% ROI (less than Tether would get doing nothing and collecting 5%) https://t.co/R15JFCMRhD

3. #Satellogic, a manufacturer of spy satellites that is currently losing $30-50 million per year (much less than the guaranteed 5%)

to say this is shady would be an understatement but it is of a piece with some of Tether's other recent bailouts of allegedly fraudulent companies like #NorthernData

#crypto #stablecoins #stablecoin #cryptocurrency #bitcoin #bitcoinmining #argentina #SATL #Adecoagro #espionage #satellite #spy #Chinese #JihanWu

Jihan Wu's Bitcoin mining outfit Bitdeer plans public listing via $4 billion SPAC merger

https://www.theblockcrypto.com/linked/124760/jihan-wus-bitcoin-mining-outfit-bitdeer-plans-public-listing-via-4-billion-spac-merger

"Following the conclusion of the merger, Wu will retain control as chairman and founder of the combined corporate #Bitcoin  #mining entity."

--
Press release:

https://www.prnewswire.com/news-releases/bitdeer-a-world-leading-technology-company-for-the-cryptocurrency-mining-community-announces-plans-to-list-on-the-nasdaq-through-merger-with-blue-safari-group-acquisition-corp-301427759.html

"The combined company is expected to be renamed #Bitdeer Technologies Group and remain a publicly listed company on the #NASDAQ Stock Market."

#BTC #BitcoinMining #Hashrate #ASIC #JihanWu

500.com Acquires Crypto Mining Pool BTC.com

https://www.coindesk.com/chinese-lottery-firm-500-com-acquires-crypto-mining-pool-btc-com

"BTC.com is currently owned by Bitdeer Technologies and former Bitmain CEO Jihan Wu."

"Will include the transfer of the entire mining pool business of Bitdeer Technologies, including the domain name BTC.com and the cryptocurrency wallet of BTC.com."

Press release:
https://www.prnewswire.com/news-releases/500com-limited-announces-acquisition-of-btccom-businesses-301228751.html

#Bitcoin  #Mining #BitcoinMining #Miner #BitcoinMiner #Pool #MiningPool #ASIC #BitDeer #BTCCOM #BTC #JihanWu #BitMain #Hashrate

"Also pursuant to the settlment, Bitdeer is spun off from Bitmain today together with the mining farm operations in the U.S. and Norway. I [Jihan] will be the chairman of Bitdeer. Matt Kong will be the CEO of Bitdeer. Antpool will soon be spun off into an independent company to be led by Micree."

Jihan Wu writes in coded letter that he's officially stepping down as Bitmain chairman

https://www.theblockcrypto.com/post/92580/jihan-wu-letter-officially-step-down-bitmain

#Bitcoin  #Bitmain #JihanWu #MicreeZhan #ASIC #Mining #Antminer #Antpool #pool

#bcash drama - #jihanwu is stepping down as CEO of #bitmain however he'll still be in an advisory role. (For what, how to lose more money?)

Breaking: Jihan is removing himself from CEO role as he sees high probability of bankruptcy. Removing from CEO will decrease personal liability! In addition early estimates, Bitmain 2018 Profits were NEGATIVE $1,2 Bilion !!!

Tip of the hat to @btcking555