Etsy CEO Is A Bitcoin HODLer But Won’t Be Accepting It As A Form Of Payment Until This Happens

Etsy CEO Is A Bitcoin HODLer But Won't Be Accepting It As A Form Of Payment Until This Happens

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Over the last few months, the amount of institutional support that the crypto institution has received has been remarkable. After years of being shunned by the mainstream financial world, PayPal, CashApp, and Mastercard have enabled crypto transactions on their various platforms. And just a few weeks ago, Tesla and BlackRock formally entered the bitcoin market.

Since then, there has been a lot of speculation about what company is going to embrace bitcoin next, and in seemingly every interview with company executives, this question is asked. The latest of these was with Etsy, a popular online marketplace.

Etsy and Bitcoin

The question of Etsy and the potential for bitcoin in its future was brought up during its Chief Executive Officer Josh Silverman’s interview with CNBC. When quizzed about this, Silverman clarified that there are no immediate plans for the company to accept bitcoin as a form of payment.

The reason for this, he said, is that not enough people are making use of bitcoin at the moment and that more people need to use and own bitcoin before Etsy will consider it. This is not to suggest that Silverman himself is against bitcoin.

On the contrary, Silverman confirmed that he has held on to bitcoin as an investment for roughly seven years as he sees it as a viable investment. Despite this, he does not feel that bitcoin is ready to be used as a medium of exchange on Etsy.

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More and more people use cryptocurrency than ever before and more merchants are able to accept it but Silverman’s statement calls into question whether the asset is truly ready for large-scale use. One of the reasons that Tesla gave for its $1.5 billion bitcoin investment was to provide liquidity for when they begin receiving payments in bitcoin.

However, the situation at both firms isn’t the same. Tesla delivered 180,000 cars in the last quarter of 2021 while Etsy has almost 40 million users worldwide. Should bitcoin become more widely used, we can expect more companies at the level of Etsy to embrace the use of digital currency.

Etsy is not the only company that is avoiding the use of bitcoin for now as Twitter’s CFO stated in a recent interview that there are no current plans to add bitcoin to the social media giant’s balance sheet.

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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.


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Hedge Funds Scare Bitcoin’s Volatility: Bridgewater Executive

Many hedge funds have diversified their portfolio with Bitcoin exposure in recent years, but a majority still do not encourage digital currency investments. Rebecca Patterson, Investment Research Director at Bridgewater Associates, recently explained the major hedge funds’ hesitation in Bitcoin.

“Right now, Bitcoin can move 10 percent on a tweet. That’s not exactly a stronghold of wealth for most institutional investors,” Patterson told Bloomberg TV in an interview. She was referring to the tweets of billionaire Elon Musk.

Patterson elaborated that Bitcoin is ten times more volatile than the US dollar and double of the Venezuelan bolivar, the fiat of a hyper-inflated country. “You want to see lower volatility, more stable asset if you want to consider it as a stronghold of wealth, a diversifier,” she added.

But, volatility is not the only drawback of hedge funds’ Bitcoin adoption. Liquidity is also a major concern, as we have seen supply shortages multiple times, along with regulatory uncertainty.

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“The more you get a real regulatory ecosystem developing around bitcoin, other cryptocurrencies, the more other types of investors are going to be comfortable coming in. That’s going to bring the liquidity. That’s going to reduce the volatility,” Patterson added.

“If there were one thing I were watching first, it would be seeing more regulatory certainty, and I’m not sure when that’s going to come in the US.”

Bitcoin Is Gold

 Bridgewater Associates is currently the largest hedge fund, managing more than $150 billion worth of assets. Its Founder, Ray Dalio earlier compared Bitcoin with gold, setting a stage for institutional adoption of digital currencies.

Despite Patterson’s concerns, many major hedge funds are investing in Bitcoin. The Miller Opportunity Trust, the flagship fund managed by Bill Miller, received regulatory permission for up to 15 percent indirect Bitcoin exposure.


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Bitcoin’s Illiquid Supply Continues to Grow – What This Means

Bitcoin’s uptrend is currently slowing as the leading cryptocurrency has been down by 10.47% in the last 24 hours, trading at $45,213 at the time of writing, according to CoinMarketCap. This outcome is linked to the fact that risk assets are experiencing a global sell-off, and bond yields are surging on the expectation that inflation will continue to rise.

Nevertheless, crypto trader Carl Martin tweeting under the pseudonym The Moon believes that Bitcoin (BTC) may be getting ready for a monumental move because the present price correction may a temporary pullback before the cryptocurrency surges higher.

BTC is not a stranger to numerous steep pullbacks in a bull run, as acknowledged by Bloqport. The crypto data provider explained

“Historically, Bitcoin goes through multiple steep corrections in a bull run. Between 2016 to 2017, we saw at least six. On Nov 13, 2017, BTC hit a low of $5,844 then hit $20,000 34 days later.”

The crypto trader, therefore, believes that the present price consolidation could trigger a monumental move.

Growing illiquid Bitcoin supply – what this means

Martin’s sentiments are echoed by on-chain analyst Rafael Schultze-Kraft who disclosed that Bitcoin’s liquid supply is nosediving. This can be interpreted as a bullish signal. He explained:

“The amount of illiquid Bitcoin supply in the network has grown more than the circulating supply since 2017. Meanwhile, liquid supply continues to see a steep decrease. Pair this with the demand from MSTR, Square, Tesla, Grayscale, et al., and understand how bullish this is.”


Source: Glassnode

Illiquid BTC supply signifies a holding culture as more participants are storing Bitcoin for speculative or future purposes, which is an indication of bullish behaviourr. 

Jan & Yann, the co-founders of on-chain data provider Glassnode, have also delved into the issue of the current pullback being bullish. They said

“Confidence in the continuation of the Bitcoin bull market during this pullback seems to be higher than for the previous dip in Jan. This chart is a great proxy for long-term holders’ sentiment.”


Source: Glassnode

Time will tell how the leading cryptocurrency moves from here. Bitcoin billionaire Tyler Winklevoss has hinted that the current price of $45k “smells of opportunity,” perhaps suggesting that this is the optimal time to buy the dip and purchase BTC at a lower price.

Image source: Shutterstock Source

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Coinbase’s S-1: The Number That May Make the Exchange Nervous

Jeff Roberts, executive editor at Decrypt and author of “King of Crypto: One Startup’s Quest to take Cryptocurrency Out of Silicon Valley and Onto Wall Street” talks about Coinbase going public. In this episode we discuss:

  • Jeff’s biggest takeaways from Coinbase’s S-1 filing (0:56)
  • why institutions are choosing Coinbase (2:42)
  • how Coinbase going public feels like validation for bitcoiners (4:37)
  • issues Coinbase may face as a business that currently generates 96% of revenue through transaction fees (6:25)
  • Why Surojit Chatterjee has so much equity in Coinbase (11:29)
  • why Coinbase has only invested $130 million in crypto through its corporate treasury (12:26)
  • whether or not decentralized exchanges like Uniswap pose a threat to Coinbase, and whether unregulated centralized exchanges might squeeze them from the other end (15:41)
  • challenges Coinbase will face going forward (19:13)
  • how well the stock will do once it’s listed (20:05)
  • Crypto News Recap (20:59)

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BTSE Introduces Earn Feature for Crypto Assets

BTSE Introduces Earn Feature for Crypto Assets

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Dubai, United Arab Emirates, 25th February, 2021, // ChainWire //

Cryptocurrency exchange BTSE has introduced an Earn feature that enables users to generate yield from their digital assets without being exposed to any volatility. 

By giving traders an opportunity to earn returns on their idle assets, BTSE has expanded its ecosystem to cater to savers as well as traders. Both flexible and fixed-term deposits are available for crypto-assets such as Bitcoin and Ethereum, as well as popular stablecoins with varying interest rates. BTSE is expected to release a variety of additional currencies in the near future.

The flexible option allows users to unstake whenever they wish, while locked term deposits require tokens to be staked for an extended period of time but provide a higher APY. No minimum deposit is required, and there are zero fees on deposits.

In phase one, compatible cryptocurrencies will include USD-pegged stablecoins Tether (USDT), USD Coin (USDC), and True USD (TUSD), as well as Bitcoin (BTC) and Ethereum (ETH). Once the time period has been determined by the user, they will start to earn interest with BTSE.

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To date, 70% of people on BTSE are choosing stablecoins because of the higher yield and more safety against volatility. This is compared to 30% of people who are receiving yield on Bitcoin.

As time goes on, the BTSE team will bring additional functionalities to the table. The second phase of this launch will include lending and borrowing capabilities to match the spirit and momentum of the DeFi trend. BTSE would like to give growth to its community with Earn as well as lending. 

Jonathan Leong, co-founder and CEO of BTSE, said: “Cryptocurrency holders like nothing more than earning yield on assets that are otherwise gathering dust in their digital wallets. BTSE’s earn feature is an important milestone in our transformation into a comprehensive digital bank at the juxtaposition of crypto and fiat.”

BTSE recognizes the growth of the DeFi space and sees a shift towards lending and borrowing in addition to Earn. 

Earn features have become extremely popular elements of several top cryptocurrency platforms, providing a means by which asset-holders can earn passive income from their crypto portfolio. Interest rates are generally far superior to those offered by traditional financial institutions.

About BTSE

Founded in 2018 and powered by a custom built from the ground up matching engine, BTSE brings institutional-grade trading technology to the world of cryptocurrency. The platform acts as a bridge between the existing financial system and the digital money of tomorrow. BTSE is capable of handling over a million order requests per seconds and stores 99.9% of customer funds in cold storage. Built by traders for traders, BTSE Exchange offers a suite of financial services which extend the capabilities of digital assets including asset management, exchange, OTC, lending, debit card, white labeling, and defi.

Learn more:


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  • BTSE

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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.


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5 Legendary Investors Share Their Predictions About Bitcoin Prices

Undoubtedly, Bitcoin has reshaped the dimensions of the cryptocurrency market with its bull runs.

Bitcoin transactions are confirmed by miners who are rewarded with BTC for each block that is verified and added to the blockchain. Bitcoin block reward is reduced to half every four years. As a result, miners receive less BTC over the course of time.

Today, Bitcoin prices are trading at around $49,000. Different aspects of Bitcoin make it an incredible financial technology with the potential to revolutionize the world. Bitcoin’s projected growth is expected to be significant and reflects its true usefulness as a global currency. 

Are there any boundaries that are set to bitcoin growth? If yes, then where is it? 

There is a wide range of long-term and short-term Bitcoin price predictions. There also exists some predictions that are not bound to any time span. Below are some predictions from Bitcoin’s well-known evangelists.

Prediction #1: Pishevar claimed that Bitcoin will reach $100,000 by 2021

Shervin Pishevar is an angel investor and venture capitalist. He is also the co-founder of Hyperloop One and Sherpa Capital. He has invested in numerous tech giants such as Uber and Airbnb. 

This legendary investor tweeted that Bitcoin will reach $100,000 by 2021 considering its rapid pace of acquisition. This prediction was made after December 2020, when Pishevar met the CEO of MicroStrategy, Michael Saylor because his company invested more than $1 billion in Bitcoin during 2020. It is not a surprise to see how Pishevar is obsessed with Bitcoin considering his meeting with Saylor and his previous predictions about the United States’ economy.

Prediction #2: Casares believes that Bitcoin will hit $1 million by 2027

The founder, as well as CEO of Xapo – a Bitcoin wallet startup – Wences Casares, is also a board member at PayPal among numerous other roles. The reason why Casares became interested in Bitcoin is due to the high financial volatility experienced by Peso, his hometown Argentina’s native currency. The tech giant then went on to buy its first Bitcoin in 2011. 

In New York, Casares claimed in the Consensus 2017 conference that he strongly believes that Bitcoin will hit $1 million before 2027. Even better, on 23 May 2017, he also claimed that Bitcoin will bypass 1 million dollars within the next 5 to 10 years. 

Prediction #3: Winklevoss predicted that Bitcoin will reach $500,000

One of the famous Bitcoin billionaires out there, Tyler Winklevoss, said that the Bitcoin market has the potential to emerge with the speed of light and successfully reach the price of $500,000 by 2030. This evolution will put its market cap on a certain level in comparison to gold. 

Tyler Winklevoss affirmed:

“According to our hypothesis, bitcoin is gold 2.0 and will be a solid reason for the disruption of gold. If this estimation became a fact, bitcoin will have a market cap of 9 trillion. It is predictable that one day, the bitcoin price will be $US 500,000. ”

Prediction #4: Liew said that bitcoin prices can realistically reach $500,000 by 2030

Jeremy Liew is a partner at Lightspeed Venture Partners. The reason why he is famous is because he is the first investor in Snapchat, a very well-known social media application. He has also invested in the listing service VarageSale, the hardware wallet LedgerX, and the multimedia company Beme. The net worth of Jeremy Liew is estimated to be north of $2 billion. 

In May 2017, Liew claimed in an exchange with a business insider that realistically, Bitcoin prices can hit the figure of $500,000 by the year 2030. Peter Smith, who is the CEO and co-founder of the world’s most well-known Bitcoin wallet “” supported this prediction. 

Prediction #5: Chamath Palihapitiya said bitcoin will bypass $1,000,000 by 2037

The founder of Social Capital and co-owner of Golden State Warrior, Chamath Palihapitiya, started his Bitcoin journey by investing back in 2012. By the year 2013, he added Bitcoins successfully in his general fund, private account, and hedge fund. There was a point in time when he owned 5% of all evolving Bitcoin. 

Palihapitiya predicted that in the next 3 to 4 years, Bitcoin prices will reach $100,000. He added in his prediction that Bitcoin will surely hit $1 million by the year 2037. 

Chamath Palihapitiya claimed: 

“Bitcoin has a potential to be comparable with the value of gold which is a fantastic hedge and stores the value against financial infrastructures and autocratic regimes which is crucial to the proper working of this world.”


Cryptocurrencies are becoming a widespread acquisition by the mainstream public in this modern era of digitization and evolving technologies. Keeping in view these massive price predictions and forecasts from legendary industry experts and investors, there is a high possibility that Bitcoin will replace all other local currencies and cryptocurrencies around the globe in the near future. It is understandable why evangelists are bullish on Bitcoin, with Bitcoin prices hitting such high numbers, ranging from thousands to over $58,000 per BTC. The technological advancements have stimulated an entire industry, projecting an aim to disrupt traditional finance. 

Image source: Shutterstock Source


World’s First Bitcoin ETF Records Stellar Growth, AUM Crosses Half A Billion Dollars

World’s First Bitcoin ETF Records Stellar Growth, AUM Crosses Half A Billion Dollars

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The world’s first Bitcoin exchange-traded fund (ETF) launched in Canada last week to a great reception by investors. It set the record for the best-performing ETF in Canada and one of the top five ETFs in North America. As Glassnode now reveals, it has shown no signs of slowing down, growing by 37% yesterday.

While U.S companies have been applying for a BTC ETF license for years now, it was the neighboring Canada that beat them to it. Purpose Investments Inc. launched the ETF on Thursday under the ticker BTCC. Immediately after it launched, it attracted a flurry of interest from investors, trading close to $400 million in two days.

As on-chain market analysis platform Glassnode now reveals, the BTCC ETF has started off the week positively. Its holdings are now at 8,288 BTC, adding 2,251 BTC, or 37%, on Monday alone.

“The ETF’s AUM has crossed half a billion USD, currently sitting at $564M,” Glassnode added.

In more good news for investors, Purpose announced that options for its BTCC ETF would begin listing today at the Montreal Exchange. Canadian financial services firm TMX Group would be in charge of the options. 

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While announcing the options, Purpose CEO and founder Som Seif remarked, “This is great news for investors and a powerful display of innovation in motion. In less than a week’s time from when we launched Purpose Bitcoin ETF, we’re already seeing the infrastructure for options trading put into place by the TMX Group. Not only does this provide investors with more ways to gain exposure to Bitcoin, it also really cements the idea that Purpose Bitcoin ETF is the premier tracker of the cryptocurrency in North America.”

Canada Overtakes U.S as ETF Hub

Canada is intent on becoming the premier cryptocurrency ETF hub globally. Just days after Purpose launched its ETF, yet another Canadian company launched its own. Evolve Fund Group’s ETF debuted on Friday, but attracted less interest, garnering just $14.5 million. CI Global Asset Management has also filed a preliminary prospectus for a third ETF.

According to Seif, the CEO at Purpose, Canada is much more willing to embrace innovation than the U.S. This gives companies like his the confidence to launch innovative products, aware that they will receive regulatory support. 

He told Bloomberg, “Canada has proven that it has a process that leads to innovation and the systems to allow for it.”

Nate Geraci, the president of advisory firm ETF Store concurs. He believes that U.S regulators have lagged behind when it comes to innovative investment products. He remarked:

“It boggles my mind we still don’t have a Bitcoin ETF in the U.S. It’s understandable that there can be a difficult balance between embracing innovation and ensuring proper investor protections. However, given the existing Bitcoin products available to U.S. investors, a Bitcoin ETF would seem to strike that balance.”

Several firms have applied for a Bitcoin ETF license in the U.S, but the SEC has shut them all down. The latest to try its luck is NYDIG, a spinoff of Stone Ridge Asset Management. Under new leadership now following Joe Biden’s takeover, NYDIG believes the SEC could finally approve a Bitcoin ETF.

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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.


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Bitcoin Rallies Back to $50,000 on Backing from Ark Investment CEO

Bitcoin (BTC) surged past $50,000 after nosediving to lows of $45,000 as a price correction was imminent after hitting a new all-time high of $58,350. 

Bitcoin Rallies Back to $50,000 on Backing from Ark Investment CEO

Bitcoin’s Tough Week

This price surge of about 7.2% to hit $51,393 in Asian trading was witnessed after Bitcoin’s price plummeted to nearly $45,000 because of significant selling pressure. Cathie Wood, the CEO of Ark Investment Management, trusts that this correction is healthy for the market as she is still very positive on Bitcoin.

The price correction to levels below the $50,000 mark was partly triggered by the liquidation of 474,968 BTC trades worth $4.4 billion on Feb 23.

Furthermore, there was an 11x exchange inflow spike, which signals the urge to transit crypto assets like Bitcoin to cash because they are withdrawn from cold storage intended for future usage or speculation. This trend, therefore, contrasts with the holding culture.

More Stimulus On the Horizon

Bitcoin is expected to continue to benefit from the rollout of more stimulus packages as echoed by the US Federal Reserve Chair Jerome Powell that the central bank is nowhere close to unwinding its easy policy.

Global governments have been adopting financial initiatives like quantitative easing (QE), which involves printing of more money needed to fight the economic impact of the coronavirus (Covid-19) pandemic.

This tide of monetary and fiscal stimulus, together with remarkable institutional investments, has been the engine behind BTC’s present uptrend. One of the corporate giants making notable BTC investments include Square, which has revealed pumping in a further $170 million in Bitcoin.

Square has optimized on the temporary Bitcoin dip and scooped up more of the digital asset, buying approximately 3,318 Bitcoins when the cryptocurrency’s price was trading around $50,000.

Image source: Shutterstock Source


Elon Musk Reacts to Tesla Losing $15 Billion After Investing in Bitcoin

Elon Musk Reacts to Tesla Losing $15 Billion After Investing in Bitcoin

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Electric Vehicle boss Elon Musk has casually reacted to the $15.2 billion loss sustained by Tesla yesterday. On Monday, the company’s shares took an 8.6% downslide. The result was a staggering $15.2 billion recorded in losses. This is the biggest decline the company has recorded since last year’s September, when the stock market lost one-third of its value, causing Tesla to plummet by 21.1%.

Elon Musk is still bullish on Bitcoin

At last check, Tesla’s stocks are still red, as stock bears continue to pull its shares downwards. The decline is speculated to have been partially triggered by the billionaire’s recent tweets of Bitcoin and Ethereum being too high in value. However, Musk’s previous tweets on Bitcoin suggest that the billionaire is on board for the long term. Echoing these sentiments is a CNBC analyst who asserts that in spite of the market downtrend, Elon Musk will continue to strengthen his commitment towards Bitcoin.

As of publication, Musk is yet to make an official statement addressing the recent events. But when gold proponent Peter Schiff implied that Musk’s decision to dive into Bitcoin was a poor investment choice, Musk replied with a dismissing emoji.

Initial Tesla ROI post Bitcoin purchase remains impressive

Prior to the decline, barely two weeks after the Bitcoin purchase was announced, Tesla had already begun raking in gains. The electric car company had already broken all previous records for ROI in car sales from 2020. The carmaker bagged an additional $1.5 billion in value. As Anthony Pompliano asserts:

“Tesla bought $1.5 billion of Bitcoin around $33,000. That means they have now made over $1 billion on that investment in less than 45 days. Elon Musk is a legend.” 

However, the recent drop in Tesla’s stock price cost the billionaire to lose his position as the richest man in the world to Jeff Bezos who has held the position since 2018. Meanwhile, the Bitcoin rally implies that an upside market correction is imminent and that Elon Musk could very easily grasp that position.

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Satoshi Nakamoto could also undoubtedly claim the position from both billionaires if Bitcoin catches up with industry predictions.

Elon Musk Reacts to Tesla Losing $15 Billion After Investing in Bitcoin
BTCUSD Chart By TradingView

Bitcoin price at circa $50,000 puts Satoshi Nakamoto as the 27th richest person on the planet with an estimated net worth of $50 billion. A 4x increase in Bitcoin’s price will make the anonymous Bitcoin creator the richest man in the world.

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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.


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Largest Bitcoin Mine Operator Seeking $500 Million US IPO

Northern Data, one of the largest Bitcoin mining facility operators based in Germany, is planning for an initial public offering (IPO) in the United States, according to a recent Bloomberg report.

The company is aiming to raise $500 million with the public listing and is already working with Swiss investment bank, Credit Swisse. It intends to issue new shares, without taking routes of direct listing or SPAC merger, that will increase its shareholder base.

The anonymous sources of the publication further detailed that Northern Data is eying to expand its global profile with the IPO that could go ahead later this year.

Operating the World’s Largest Bitcoin Mining Farm 

Though based in Frankfurt, Germany, the mining facilities of the Northern Data are located in a region with an abundance of cheap electricity. It operates a facility in Rockdale, Texas, which is the largest known crypto mining facility in the world with a planned capacity of 1 GWh by the end of 2021.

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Founded and led by Aroosh Thillainathan, Northern Data has also changed its business model over the years and operates facilities on behalf of other crypto miners.

Northern Data is backed by Christian Angermayer and Mike Novogratz-backed Cryptology Asset Group and EOS developer, Additionally, shares of the company have been listed on the German over-the-counter (OTC) exchange since 2015. With the gain in Bitcoin and cryptocurrency demand, the value of the company shares tripled last year.

The German company is one of the many crypto companies which have been making a public debut this year. Meanwhile, the US market remained a favorite among international crypto companies as many top Chinese miners are also attempting public listing.