Cryptocurrency Market Continues to Expand


According to CoinDesk, data site OnChainFX reports that each of the top 20 cryptocurrencies by market capitalization hit a record high in the past four days. The price of Ripple’s XRP token, the fourth largest cryptocurrency by market capitalization, has passed a dollar for the first time on Thursday. According to Coinmarketcap, XRP surged 46 percent to $1.13 during Thursday’s trading session. It now has a market capitalization of over 43 billion. Global Blockchain Technologies Corp. (OTC: BLKCF), NXT-ID Inc. (NASDAQ: NXTD), Long Island Iced Tea Corp (NASDAQ: LTEA), Xunlei Limited (NASDAQ: XNET), HIVE Blockchain Technologies Ltd. (OTC: PRELF)

According to CNBC, the New York Stock Exchange has submitted the application with the U.S Securities and Exchange Commission to list two Bitcoin-back exchange-traded funds. They are the ProShares Bitcoin ETF and the ProShares Short Bitcoin ETF. The cryptocurrency is getting closer to mainstream as CME and Cboe both started bitcoin futures trading in the last two weeks. Barry Silbert, founder and CEO of Digital Currency Group, said on CNBC’s “Squawk Box” earlier this month: “I think it is going to enable finally the approval of bitcoin ETFs, and other digital currency ETFs, which is game changing.”

Global Blockchain Technologies Corp. (OTC: BLKCF) also listed on the TSX Venture Exchange under the ticker symbol ‘BLOC’. Late yesterday the company announced breaking news that, “further to its news release dated November 7, 2017, the Company has closed its offering issuing a total of 16,849,170 units (the “Units”) on a bought deal private placement basis, at a price per Unit of $2.55, for gross proceeds of $42,965,383.50 (the “Offering”). Each Unit consists of one common share of the Company (a “Common Share”) and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $3.50 for a period of 24 months from the closing of the Offering.

The net proceeds of offering will be used to fund further investments by the Company pursuant to its investment mandate, including the Company’s acquisition of Coinstream Mining Corp. The Offering was led by Canaccord Genuity Corp. with a syndicate of underwriters including Clarus Securities Inc., Eight Capital and Haywood Securities Inc. In consideration for their services, the underwriters received a cash commission of 7% of the gross proceeds from the Offering and non-transferable compensation options equal to 7% of the number of Units issued pursuant to the Offering. Each Compensation Option is exercisable for one year from the closing date of the Offering to acquire Units consisting of one Common Share and one Warrant at a price of $2.55 per Unit, with the Warrants being exercisable for a period of one year from the closing date at a price of $3.50 per Common Share.

All Common Shares and Warrants issuable upon the closing of the Offering will be subject to a statutory hold period lasting four months and one day following from the closing date of the Offering. Shidan Gouran, President of Global Blockchain noted, “We are very pleased to have brought in some strong and supportive new shareholders via this offering. We look forward to executing on our investment mandate and accretively building value for our investors in 2018 and beyond, as BLOC’s team of experts navigates our exciting and dynamic area of focus.”

For an in-depth publication on Global Blockchain Technologies Corp. (OTC: BLKCF), you can visit:

NXT-ID Inc. (NASDAQ: NXTD) announced yesterday that it has entered into definitive agreements with certain institutional investors to purchase an aggregate of approximately $7,000,000 of shares of common stock in a registered direct offering. The common stock will be priced at $4.00 per share. Upon closing, the Company anticipates that it will issue a total of approximately 1,750,000 registered common shares. The Company intends to use the proceeds for further debt reduction, to fund its Crypto Currency exchange product development and for general corporate purposes.

Long Island Iced Tea Corp (NASDAQ: LTEA) announced that the parent company is shifting its primary corporate focus towards the exploration of and investment in opportunities that leverage the benefits of blockchain technology. In connection with the shift in strategic direction, the Company has approved changing its name from “Long Island Iced Tea Corp.” to “Long Blockchain Corp.” and has reserved the web domain The Company intends to request Nasdaq to change its trading symbol in connection with the name change. The Company will continue to operate Long Island Brand Beverages, LLC as a wholly-owned subsidiary and maintain the focus of this business on the ready-to-drink segment of the beverage industry, specifically, premium, ‘better-for-you’ brands marketed at an affordable price.

Xunlei Limited (NASDAQ: XNET) is a leading cloud-based acceleration technology company in China. On November 29, 2017, the company announced it has 28.77% equity interest in Shenzhen Xunlei Big Data Information Services Company Ltd. (“Big Data”) and has no management control over Big Data. In response to certain public statements made by Big Data recently, the board of directors of the Company (“Board”) issued an open letter and firmly supported the Company’s endeavor to utilize its many years of technical know-how in the field of distributed computing to explore commercial applications with the help of blockchain technology.

HIVE Blockchain Technologies Ltd. (OTC: PRELF) is a growth oriented company building a bridge from the blockchain sector to traditional capital markets. HIVE is strategically partnered with Genesis Mining Ltd. to build the next generation of blockchain infrastructure. HIVE owns state-of-the-art GPU-based digital currency mining facilities in Iceland, which produce newly minted virgin digital currency like Ethereum around the clock, and is in the midst of a major expansion of operations into Sweden. Recently, the company announced that it has closed the first tranche of its previously announced private placement of up to C$115 million co-led by GMP Securities L.P. and Eventus Capital Corp. and including Haywood Securities Inc. and PI Financial Corp. The net proceeds of the Offering are expected to be used to fund the completion of the Sweden Bitcoin Data Centre and the Phase 3 Expansion at the Sweden GPU Data Centre, and for general working capital purposes.

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