Cryptocurrency News Update

2 August, 2011

Blockchain Asset Review

Crypto News Update

Keeping up with changes in the crypto market can be challenging, but Blockchain Asset Review is dedicated to bringing you all of breaking crypto news.

As of July 21, 2021, one of the biggest developments in crypto coin news was crypto mining company Core Scientific’s announcement that it would go public. Instead of an IPO, Core Scientific Holding Co will go public by merging a blank check company held by BlackRock Inc. One of the most fascinating aspects of this cryptocurrency news update is that the merger places a $4.3 billion valuation on the crypto mining company.

Another interesting detail is what the announcement did not say. This crypto news update did not contain any mentions of a private investment in public equity (PIPE) round. Since those are typical in blank-check mergers, it has left room for speculation about how the merger is being funded.

What does this cryptocurrency breaking news mean? Well, if you are not a Blockchain Asset Review customer, then it probably will not have much of an impact on your immediate crypto assets. However, it could have long term impacts on the crypto market, in general.

Recently, cryptocurrency live news has been dominated by talks of crypto values plummeting in the wake of more and more countries enacting regulations on cryptocurrency. As recently as one month ago, the current cryptocurrency news was reporting a loss of $400 billion in crypto values as the result of Chinese regulations impacting the crypto market. Some were even speculating whether the crypto market could hold its value in the wake of regulations and crackdowns by China, given its prominence in the world economy.

However, Core Scientific’s merger is only the most recent in a series of high-stakes crypto mergers. They have shown that cryptocurrency firms are still getting very high valuations, even in the wake of these crackdowns.

The takeaway? Cryptocurrency is here to stay.

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