Core Viewpoint - The Portnoy Law Firm has initiated an investigation into Bgin Blockchain Limited for possible securities fraud and may file a class action on behalf of investors [1]. Group 1: Company Financial Performance - Bgin Blockchain Limited completed its Initial Public Offering (IPO) on October 21, 2025 [2]. - The company reported a significant decline in total revenue, which decreased by approximately $96 million compared to the previous year [3]. - Operating expenses surged by 582.8%, leading to a gross loss of $6.3 million, a stark contrast to the gross profit of $84.8 million reported in the prior year [3]. - As of December 29, 2025, Bgin's shares traded as low as $2.45, marking a decline of $3.55 or 59% from the IPO price of $6.00 per share [3]. Group 2: Corporate Governance Changes - On December 5, 2025, Bgin announced the termination of its Chief Communications Officer on a mutual amicable basis [3]. - The company decided not to renew or negotiate new terms with its current auditor and approved the engagement of a new independent registered public accounting firm effective December 12, 2025 [3].
Bgin Blockchain Limited Investigated by the Portnoy Law Firm