Ebang refutes Bitcoin ‘China Hustle’ claims as share price falls 20%

A Nasdaq-traded Chinese Bitcoin mining firm has seen its shares fall 20% after a damning short report unveiled some alleged dodgy dealings.The share price of Chinese Bitcoin mining company Ebang continues to fall, while the firm refutes claims made in a Hindenburg Research report that alleged it was pilfering American investors’ cash.

he report prompted an official response from Ebang International Holdings Inc, which claimed the review was full of speculation and unsupported claims. The announcement stated that Ebang would examine the claims made by Hindenburg and take the necessary steps to protect its investors.

It added, “The Board, together with its Audit Committee, intends to further review and examine the allegations and misinformation therein and will take whatever necessary and appropriate actions may be required to protect the interest of its shareholders.”

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Author: Priyanka

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