Binance CEO Changpeng Zhao has said that regulation, rather than lack of clarity, is a better option for the crypto industry. However, he added that regulation by enforcement is bad.

Bitdeer Technologies, a Singapore-based cryptocurrency mining firm founded by Chinese crypto tycoon Jihan Wu, is set to go public on Nasdaq on April 14 via a SPAC merger with Blue Safari Group Acquisition. The company, which operates six mining centers in the U.S. and Norway with an aggregate power capacity of 775 megawatts, is expected to begin trading under the ticker symbol "BTDR" on Friday. Bitdeer announced the SPAC deal in November 2021, and its public listing will allow it to make even greater contributions to the crypto economy, said CEO Linghui Kong. In the first half of 2022, Bitdeer booked a net loss of $25.2 million, compared to a net profit of $113.8 million in the same period in 2021.

The crypto firm Matrixport, led by former Bitmain CEO Jihan Wu, is laying off 10% of the company’s staff, according to reports published on Friday. Matrixport’s COO, Cynthia Wu, cited a “shift in the regulatory climate” and “industry-wide capitulations” as reasons for the layoffs.

Billionaire Jihan Wu is reshuffling the leadership of his asset manager while shedding 10% of staff at his digital-currency lending firm, the latest signs of turmoil in the crypto industry.

Crypto lending firm Matrixport, led by Jihan Wu, is looking to raise $100 million at a $1.5 billion valuation.