Bitcoin Mining Device Manufacturer Ebang to Introduce Crypto Exchange in 2021; Shares Rise

Bitcoin mining equipment maker Ebang (EBON) revealed Thursday it is preparing to officially introduce a cryptocurrency exchange in the initial quarter of 2021.

Ebang claimed it has begun publicly testing its cryptocurrency exchange and will officially release in the first quarter of 2021.

Shares of the Nasdaq-listed mining equipment supplier rose on the news, leaping to as high as $6.18 a share prior to settling down to $5.71 at the time of this writing, up 16%.

Very bit has actually been disclosed concerning the suggested exchange, other than that Ebang has claimed it will certainly be a regulatory-compliant cryptocurrency exchange that would strictly operate beyond China, where the government has punished trading systems.

In a statement, Ebang Chairman and also Chief Executive Officer Dong Hu said the conclusion of the interior screening of the cryptocurrency exchange is an advance in increasing its blockchain economic services business.

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.