Businesswire
Kraken Appoints Former StockX Executive Vishnu Patankar as CTO
SAN FRANCISCO--(BUSINESS WIRE)--Kraken, one of the world's longest standing and most trusted crypto platforms, today announced the appointment of Vishnu Patankar as Chief Technology Officer (CTO). Patankar brings more than twenty years of technology expertise to Kraken and has helped Fortune 500 companies like Microsoft, Amazon, Intel and Groupon scale products impacting millions of clients worldwide.
At Kraken, he will lead the engineering team and work with the company’s leadership to deliver the next generation of products and services. His focus will be on scaling the company into the most promising areas of crypto while maintaining its security-focused and client-obsessed ethos.
"Vishnu is a true leader in his field. He is a seasoned executive with deep expertise across all aspects of product development and tech leadership,” said Dave Ripley, CEO of Kraken. “He has built and led large, globally distributed engineering teams at some of the most innovative companies. He's a strategic and technical leader who is well equipped to build and optimize Kraken’s technology to deliver the most secure and scalable product experiences. We're thrilled to have him join our team."
An engineering leader with strong business acumen, Patankar helped build early scalable decentralized technologies by driving the development of products and infrastructure to service millions of clients around the world. Before joining Kraken, he was CTO at StockX where he played an integral part in facilitating the company's growth and launching its NFT offering.
"I'm excited to join Kraken and help propel the company's mission and vision forward," said Patankar. "Kraken is an authentic brand with a strong focus on its mission and client trust. I see the opportunity to bring the company's track record of continuous innovation to the next level, while ensuring we can successfully scale the company's technology to onboard the next 100 million consumers into crypto. I look forward to being part of this journey."
To learn more, please visit Kraken’s blog .
About Kraken:
Kraken is one of the world’s longest-standing digital asset platforms. Globally, Kraken’s client base trades more than 200 digital assets and 6 different fiat currencies, including GBP, EUR, USD, CAD, CHF and AUD.
Kraken, over 2,000 strong, was founded in 2011, and is trusted by over 10 million consumer, professional, and institutional clients around the world and offers professional, round-the-clock online support. As part of Kraken’s high bar for transparency and earning its clients’ trust, it was the first company to conduct Proof of Reserves audits.
Kraken is backed by investors including Tribe Capital , SkyBridge , Hummingbird Ventures , Blockchain Capital , Digital Currency Group , among others.
For more information about Kraken, please visit www.kraken.com . Contacts
Alex Rapoport, press@kraken.com
Ault Alliance Forecasts $200 Million Revenue for 2023 in Mid-Year Update
LAS VEGAS--(BUSINESS WIRE)-- $AP #200_Million_Gross_Revenue -- Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“ Ault Alliance ” or the “ Company ”), today provided a mid-year update forecasting a promising outlook for the remainder of 2023.
Ault Alliance anticipates a considerable surge in revenue for 2023, projecting revenue of approximately $200 million, a significant uptick from the previous year’s $134 million.
Sector Updates:
Energy & Infrastructure
Circle 8 Newco LLC (“ Circle 8 ”) continues to see substantial growth in crane operations, primarily supporting the South Central U.S. oil industry. With the recent appointment of industry veteran Arnold Mabee as CEO, Circle 8 anticipates further bolstering of its crane business.
Finance & Technology
Ault Alliance expects that Ault Lending, a licensed lender in California, will contribute significantly to revenue growth and bottom-line improvements for the second half of 2023 and beyond.
Additionally, BitNile Metaverse, Inc. (Nasdaq: BNMV) recently confirmed that its metaverse platform, BitNile.com, has begun generating revenue through successful social gaming and immersive advertising initiatives. Ongoing efforts to enrich the entertainment and e-commerce aspects of the metaverse platform are expected to enhance the user experience and further stimulate revenue growth.
The Michigan-based data center operations continue to expand, with around 9,000 Bitcoin miners currently in operation using 28 megawatts of power. This expansive 34-acre property with 14.5 acres under roof hosts a portion of the Company’s mining operations with spare capacity profitably rented out to diverse tenants. The Company recently announced the full deployment and energization of 10,000 Bitcoin miners that are being hosted through a strategic collaboration with Core Scientific, Inc.
Real Estate
Ault Alliance’s real estate portfolio continues to prosper. Its subsidiaries own four newly renovated hotels in the Midwest, including two Marriotts and two Hiltons. The performance of these assets shows encouraging improvement over the previous year’s results.
“We are excited about the progress we have made so far in 2023,” said Executive Chairman, Milton “Todd” Ault III of Ault Alliance. “Our diversified portfolio across several business sectors continues to drive growth and add value to our stockholders. We are confident that our strategic initiatives will continue to yield positive results in the second half of the year.”
In a significant corporate action, Ault Alliance recently conducted a 300-1 reverse stock split. This strategic move has left the Company with 1.39 million shares outstanding.
Ault Alliance notes that revenue estimates and other projections are subject to volatility in Bitcoin market price, the fluctuation in the mining difficulty level and other factors that may impact the results of Bitcoin mining production or operations. Revenues from Ault Alliance trading activities include unrealized gains and losses from market price changes, which can cause significant volatility in the Company’s periodic earnings.
For more information on Ault Alliance and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company’s public filings and press releases available under the Investor Relations section at www.ault.com or available at www.sec.gov .
About Ault Alliance, Inc.
Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.ault.com .
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.ault.com . Contacts
IR@Ault.com or 1-888-753-2235
Cathedra Bitcoin Announces Off-Grid Bitcoin Mining Partnership With 360 Mining
TORONTO--(BUSINESS WIRE)--(Block Height: 792,455) – Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) (“ Cathedra ” or the “ Company ”), is pleased to announce a strategic partnership with 360 Mining, Inc (“ 360 Mining ”), a Delaware incorporated off-grid bitcoin mining company.
Partnership Overview
Under the partnership, Cathedra will deploy mobile data centers and bitcoin mining machines at 360 Mining’s off-grid location in Texas, with 360 Mining providing natural gas and power generation infrastructure to supply continuous electricity to Cathedra’s bitcoin mining infrastructure. Cathedra will pay 360 Mining a rate of US$55.00 per megawatt hour for power consumed, plus 10% of gross bitcoin mined at the site. The parties also reserve the option to abstain from mining bitcoin to sell the natural gas to market in the event it is economically advantageous to do so. The partnership gives Cathedra the rights to 2.0 megawatts of power capacity, with an initial deployment of 0.3 megawatts to be completed in the next 60 days.
For the initial deployment, Cathedra will deploy one of its proprietary bitcoin mining “Rovers,” mobile bitcoin mining data centers which the Company designed and manufactured in-house, outfitted with legacy Whatsminer M31S and M32S machines from the Company’s partnership with Great American Mining in 2021-2022. The Company intends to apply its industry-leading underclocking capabilities to these machines to achieve an efficiency of approximately 37 joules per terahash, up to a 30% improvement upon the machines’ factory efficiency. With these underclocked machines, the initial deployment will produce at least 8 PH/s of incremental hash rate with minimal capital expenditure from Cathedra.
Upon completion of any subsequent deployments, the Company expects the full 2.0 megawatts of bitcoin mining capacity under the partnership to produce at least 54 PH/s of incremental hash rate, though the exact amount will vary based on the models of machines deployed and selected underclocking settings. The Company will provide subsequent updates to shareholders as more hash rate is deployed under the partnership in the coming months.
With the partnership, Cathedra expands its operating footprint to a fourth U.S. state and becomes the only publicly listed bitcoin miner with operations utilizing both on- and off-grid energy sources.
Management Commentary
“We are excited to begin working with 360 Mining, a company run by bitcoiners who have put in the proof-of-work to develop off-grid mining expertise,” commented Cathedra’s Chairman and President, Drew Armstrong.
“This partnership is an important step for Cathedra. With the onset of the bitcoin bear market last year, we were forced to pause our Rover manufacturing efforts and pursuit of off-grid energy to focus on maximizing near-term operating cash flow. As part of this focus on profitability, we pioneered the use of underclocking techniques on latest-generation machines to improve efficiency and operating margins. Now, this partnership synthesizes all of these initiatives, leveraging our proprietary Rovers, industry-leading underclocking capabilities, and experience mining off-grid. And by utilizing idle infrastructure and machines, we are growing our hash rate with minimal incremental capital investment,” Armstrong added.
“We are thrilled to partner with Cathedra to pioneer a new hosting model that offers industry leading downside protection via exposure to natural gas. This strategic partnership will allow 360 Mining to monetize our gas at a higher $/MCF while further legitimizing the value proposition of off-grid vertical integration,” commented 360 Mining’s CEO, Chris Alfano.
About 360 Mining
360 Mining is a vertically integrated bitcoin mining company that owns, develops and operates natural gas and power generation assets in the United States. The company operates through a self-mining arm and a services arm that engages in hosting and consulting for third-parties. The company is currently focused on acquiring new natural gas assets in Texas and expanding on its proven business model that generates enhanced economics on produced natural gas.
For more information about 360 Mining please visit 360mining.com , follow 360 Mining on Twitter at @360MiningInc or email 360 Mining at info@360mining.com .
About Cathedra Bitcoin
Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) is a Bitcoin company that believes sound money and abundant energy are the keys to human flourishing. The Company has diversified bitcoin mining operations which produce 343 PH/s across three states and seven locations in the United States. The Company is focused on managing and expanding its portfolio of hash rate through a diversified approach to site selection and operations, utilizing multiple energy sources across various jurisdictions.
For more information about Cathedra, visit cathedra.com or follow Company news on Twitter at @CathedraBitcoin or on Telegram at @CathedraBitcoin .
Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. The information in this release about future plans and objectives of the Company, are forward-looking information. Other forward-looking information includes but is not limited to information concerning: the intentions and future actions of senior management, the intentions, plans and future actions of the Company, as well as the Company’s ability to successfully mine digital currency; revenue increasing as currently anticipated; the ability to profitably liquidate current and future digital currency inventory; volatility of network difficulty and, digital currency prices and the resulting significant negative impact on the Company’s operations; the construction and operation of expanded blockchain infrastructure as currently planned; and the regulatory environment of cryptocurrency in applicable jurisdictions.
Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.
This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law. Contacts
Media and Investor Relations Inquiries
Sean Ty Chief Financial Officer ir@cathedra.com
1Kosmos BlockID Product Lines Available in AWS Marketplace
AWS customers can now easily acquire identity proofing and passwordless platform
EAST BRUNSWICK, N.J.--(BUSINESS WIRE)-- #AWS -- 1Kosmos , the company that unifies identity proofing and passwordless authentication, today announced the 1Kosmos BlockID distributed identity cloud service that unifies identity verification and passwordless authentication is now available in AWS Marketplace , a digital catalog with thousands of software listings from independent software vendors that make it easy to find, test, buy, and deploy software that runs on Amazon Web Services (AWS). This listing makes it easy for customers to test and deploy BlockID, as well as directly procure it in AWS Marketplace.
AWS Marketplace makes the BlockID platform more accessible to enterprises looking to deploy a phishing resistant approach to passwordless multi-factor authentication that delivers a frictionless user experience through non-spoofable, live biometrics with verified identity. The BlockID cloud service is designed to prevent identity impersonation, account takeover and fraud while delivering a convenient, frictionless login experience. It provides passwordless access for customers, workers, and citizens to securely transact with digital services.
“1Kosmos provides a turn-key cloud service for migrating any modern application to identity-based, passwordless multi-factor authentication, including many legacy systems,” said Huzefa Olia, Chief Operating Officer of 1Kosmos. “AWS Marketplace makes BlockID accessible to AWS customers with a streamlined procurement process. Meanwhile, our DevX environment eliminates the need for prospects to install the 1Kosmos BlockID platform to perform proof of concept trials.”
1Kosmos BlockID provides the following capabilities and benefits: A distributed identity cloud service that unifies identity verification and passwordless authentication in one integrated platform A seamless user experience with simple user onboarding and convenient access anywhere, anytime and on any device User-managed privacy providing individuals complete control over their personal data and the ability to share on demand with consent A developer-friendly SDK, APIs and over 50 out of the box integrations for easy deployment Advanced live biometric authentication to eliminate spoofing and verify users with over 99% accuracy Standards-based platform certified for NIST 800.63.3 via Kantara, FIDO2, PAD-2 and ISO 27001, and compliant with GDPR and SOC2 requirements
For more information about 1Kosmos BlockID in AWS Marketplace, please visit the public listing here .
About 1Kosmos 1Kosmos enables passwordless access for workers, customers and residents to securely transact with digital services. By unifying identity proofing and strong authentication, the BlockID platform creates a distributed digital identity that prevents identity impersonation, account takeover and fraud while delivering frictionless user experiences. BlockID is the only NIST 800-63-3 via Kantara, FIDO2 and iBeta biometrics certified platform that performs millions of authentications daily for some of the largest banks, telecommunications and healthcare organizations in the world. The company is funded by Forgepoint Capital and Gula Tech Adventures with headquarters in East Brunswick, New Jersey. For more information, visit www.1kosmos.com and follow us on Twitter and LinkedIn . Contacts
Media: Marc Gendron Marc Gendron PR for 1Kosmos 617.877.7480 marc@mgpr.net
GRC Introduces HashRaQ® MAX to Enhance the Performance, Profitability, and Sustainability of Crypto Mining Operations
The HashRaQ ® MAX is a powerful, reliable, and efficient cooling system for crypto mining operations, minimizing CapEx, OpEx, and carbon footprint while maximizing density, uptime, and profitability.
AUSTIN, Texas--(BUSINESS WIRE)--GRC ( Green Revolution Cooling ), the global leader in single-phase immersion cooling for data centers, today announced its newest offering for blockchain applications— HashRaQ MAX . The HashRaQ MAX is a next-gen, productivity-driven, immersion cooling solution that tackles the extreme heat loads generated by crypto mining.
The precisely engineered system features a high-performance cooling distribution unit (CDU) that supports high-density configuration and ensures maximum mining capability with minimal infrastructure costs, allowing for installation in nearly any location with access to power and water. The unit’s molded design provides even coolant distribution, so each miner operates at peak capability.
HashRaQ MAX was developed utilizing the experience and customer feedback GRC has accumulated over its 14 years of designing, building, and deploying immersion cooling systems specifically for the mining industry. The unit is capable of cooling 288 kW with warm water when outfitted with 48 Bitmain S19 miners. Its space-saving and all-inclusive design consists of racks, frame, power distribution units (PDUs), coolant distribution unit (CDU), and monitoring, ensuring users can capitalize on the benefits of a comprehensive, validated, and cost-effective cooling solution.
It’s a well-established fact that cryptocurrency mining utilizes a significant amount of energy, with Bitcoin alone consuming a reported 127 terawatt-hours (TWh) a year . In the United States, mining operations are estimated to emit up to 50 million tons of CO 2 annually. HashRaQ MAX is designed to reduce the carbon footprint of mining operations by minimizing energy use, while also enabling miners to optimize profitability. Additionally, the system is manufactured utilizing post-industrial, recycled materials and is flat-pack shipped to further reduce costs and carbon emissions. The unit is also fully recyclable at the end of its life.
“We are proud to present digital asset mining operators with a complete and reliable cooling solution that eliminates the time and complexity of piecing together an in-house system—and doesn’t break the bank,” said Peter Poulin, CEO of GRC. “We’ve been developing systems specifically for the blockchain industry since our inception in 2009 and our Hash family of products has been proven in installations around the world. It’s exciting to release this next generation HashRaQ MAX immersion cooling system in continuing support of cryptocurrency miners during this next era in digital asset mining.”
To view additional highlights of the HashRaQ MAX, please visit https://www.grcooling.com/hashraq/ .
About GRC
GRC is The Immersion Cooling Authority ® . The company's patented immersion-cooling technology radically simplifies deployment of data center cooling infrastructure. By eliminating the need for chillers, CRACs, air handlers, humidity controls, and other conventional cooling components, enterprises reduce their data center design, build, energy, and maintenance costs. GRC’s solutions are deployed in twenty-one countries and are ideal for next-gen applications platforms, including artificial intelligence, blockchain, HPC, 5G, and other edge computing and core applications. Their systems are environmentally resilient, sustainable, and space saving, making it possible to deploy them in virtually any location with minimal lead time.
The company works closely with industry-leading silicon manufacturers to ensure single-phase liquid immersion cooling to be a future-proof solution that cools TDPs of 1000 W and beyond.
Visit http://grcooling.com for more information. Contacts
Milldam Public Relations Adam Waitkunas 978-828-8304 (mobile) adam.waitkunas@milldampr.com
Customers Bancorp Shareholders Approve All Proposals in Online Annual Meeting
WEST READING, Pa.--(BUSINESS WIRE)-- $CUBI #AnnualMeeting --Shareholders of Customers Bancorp, Inc. (NYSE:CUBI) – parent of Customers Bank, a digital-forward super-community bank and one of the 100 largest banks in the U.S., met in a virtual annual meeting on Tuesday, May 30, electing three directors, ratifying the appointment of Deloitte & Touche LLP as the company’s independent registered public accounting firm, supporting a non-binding “say on pay” proposal to approve the compensation of top executives, and amending the company’s stock incentive plan.
“Over the years, we have built Customers Bancorp, Inc. into a high performing, forward-thinking bank with strong risk management,” commented Chair & CEO Jay Sidhu.
Three Directors comprising the company’s Class III Directors were elected to serve a three-year term or until their respective successors are elected and qualified: Robert N. Mackay, T. Lawrence Way, and Steven J. Zuckerman. Their terms expire in 2026.
The shareholders cast votes in favor of a “say on pay” proposal outlining the Bank’s executive compensation program. This proposal is non-binding on the Corporation, but the Board and Compensation Committee value the opinion of shareholders and continue their outreach and study of the best practices in consideration of future executive compensation.
Finally, shareholders approved an amendment to the company’s 2019 Stock Incentive Plan that increases the total number of shares of common stock authorized under the 2019 Plan by 740,325, from 1,830,000 (the number of shares authorized under the original 2019 Plan, and as amended on May 31, 2022) to 2,570,325. The amendment related only to the increase in the number of shares authorized and therefore available for awards – no other changes to the 2019 Plan were proposed or adopted. The move comes as part of an effort to use every tool available to recruit and retain talent and to tie compensation to performance.
Sidhu thanked the company’s shareholders, saying “Thank you for your investment in, and ongoing support of, our Company. We appreciate your confidence and will continue to work to build long term shareholder value while we live by our principles of strong risk management, while putting our team members, our customers, the communities we serve, sustainability and good governance first.”
Institutional Background
Customers Bancorp, Inc. (NYSE:CUBI) is one of the nation’s top-performing banking companies with over $21 billion in assets, making it one of the 100 largest bank holding companies in the US. Through its primary subsidiary, Customers Bank, commercial and consumer clients benefit from a full suite of technology-enabled tailored product experience delivered by best-in-class customer service. A pioneer in Banking-as-a-Service and digital banking products, Customers Bank is one of the very few banks that provides a blockchain-based 24/7/365 digital payment solution. In addition to traditional lines such as C&I lending, commercial real estate lending, and multifamily lending, Customers Bank also provides a number of national corporate banking services to Specialty Lending clients. Major accolades include: #34 out of the 100 largest publicly traded banks in 2023 per Forbes; #64 on Fortune Magazine’s 2022 list of the 100 fastest growing companies in America; #6 in top-performing banks with assets between $10 billion and $50 billion in 2021 per American Banker; and #3 top-performing bank with over $10 billion in assets at year-end 2021 per S&P Global S&P Global Market Intelligence.
A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender. Learn more: www.customersbank.com . Contacts
David Patti, Director, Communications 610-451-9452
Alipay Now Supports Users to Link Alipay to Their Apple ID in a One-stop Way Within Its App
Alipay app is the world’s first third-party payment app to launch this new feature to greatly optimize iPhone customers’ shopping experience. This new feature will also soon be available in the AlipayHK app for Hong Kong customers to enjoy the upgraded experience.
HANGZHOU, China--(BUSINESS WIRE)--Alipay today announced to launch a new feature for iPhone customers with the latest version of Alipay app to quickly add Alipay to their Apple ID and complete payment authorization one-stop within the app. Alipay app is the world’s first third-party payment app to launch this new feature to greatly optimize iPhone customers’ shopping experience.
Updating to iOS 16.4 and later, iPhone customers can search for “Apple” in the Alipay app to enter the “Apple Zone”, add Alipay to their Apple ID and complete the payment authorization. This feature is available for users who have yet linked Alipay as the Apple ID payment method and only takes 3 steps for users to get ready to pay for apps, games or in-app purchases, or subscribe to iCloud+ and Apple Music.
Users can manage their accounts from the “Apple Zone”, including setting monthly payment limits and checking up details of each purchase etc. In fact, the “Apple Zone” has become a go-to place for Apple customers to check out discounts every Friday, including red packets for shopping in the App Store and privileges offered by developers. This fast-binding process has further improved the shopping experience for Apple fans.
This new feature will also soon be available in the AlipayHK app for Hong Kong customers to enjoy the upgraded experience.
About Alipay
In the evolving digital era, Alipay has transformed from a trusted payment tool to an open platform for businesses, institutions, service providers, and other partners. Business partners in various industries utilize Alipay to offer consumers a safe and convenient payment experience. Through digital operations on the Alipay platform, business partners can communicate and provide various commercial and daily life digital services for their clients via Alipay mini programs, lifestyle accounts, and IoT, along with other tools available. Currently, there have been over 80 million businesses serving more than one billion consumers via Alipay's open platform services.
About AlipayHK
The AlipayHK electronic wallet is operated by Alipay Financial Services (HK) Limited (Stored Value Facility Licence number: SVF0004) and regulated by the Hong Kong Monetary Authority. Alipay Payment Services (HK) Limited is a joint venture established by Ant Group, a parent company of “Alipay”, and the CK Hutchison Holding Limited, a multinational conglomerate spanning over 50 countries. For more information, please visit http://www.alipayhk.com .
Currently, over 100,000 local retail outlets support the AlipayHK electronic wallet for payment, covering large chain stores, convenient stores, supermarkets, fresh markets, restaurants and others. Features of the AlipayHK electronic wallet include transportation, cross-border payment, P2P transfer, Lucky Money, blockchain remittance, bill payment, Quick Reward Coupon eShop and Taobao payments, purchase of insurance products offered by third parties, e-coupons, etc, making Hong Kong residents’ lives more convenient by integrating mobile payment into daily lives. Contacts
Media Inquiries Li Tao Ant Group tao.l@antgroup.com
Policymaking Comes to Money20/20 Europe
LONDON--(BUSINESS WIRE)-- Money20/20 , the world’s leading fintech show, regarded as the place where money does business, is set to host a series of regulatory sessions featuring top policymakers at its upcoming European show in Amsterdam.
Taking place at RAI Amsterdam on 6-8 June 2023, the show’s sessions focused on regulatory developments have been carefully curated to provide its over 8,000 expected delegates with valuable insights and understanding into Europe’s ever-evolving regulatory landscape.
“Money20/20 is the place where the entire money ecosystem comes together to debate and understand the rules for the future of financial services,” said Scarlett Sieber, Chief Strategy & Growth Officer at Money20/20 . “As one of the regulatory centres of the world, Europe is driving advancements in open banking, digital assets, privacy and security, and the conversations taking place on our stages in Amsterdam will have a direct impact on every player in the industry, from surging startups to global banks and tech giants.”
Kicking off the regulatory conversations will be Alexandra Maniati, Senior Director, Innovation and Cybersecurity at the European Banking Federation, on Tuesday, 6 June at 10:35 CET on the Fusion Stage. She will be part of a session titled “ Cloud on Europe’s Terms: Sovereignty and Security in the Banking Sector ”, which will explore what a newly ignited sovereignty focus means for Europe’s financial sector and how cloud service providers have created dedicated initiatives to serve European customers.
Beyond Europe, Orly Grinfeld, EVP, Head of Clearing at the Tel Aviv Stock Exchange (TASE) and Gil Cohen, Senior Deputy Accountant General, Head of Debt, Finance and Credit Division at the Israel Ministry of Finance will share insight from Israel’s pilot to issue government bonds using a blockchain platform. “ Digitising the Financial System, One Bond at a Time ” will take place on the Fusion Stage on Tuesday, 6 June at 11:40 CET.
On Tuesday, 6 June at 12:10 CET, Petra Plompen, Head of New Initiatives at EBA Clearing will be joined by Barclays and Swift on a session on “ What Makes a Successful ISO 20022 Implementation? ”. Hear from early adopters who have embraced this change and understand why the new format has a number of significant implications for all participants across the industry.
Wondering how you can strike the right balance between openness and protection? That’s what Patrick De Neef, Chief Innovation Officer at De Nederlandsche Bank (Dutch Central Bank) , Sheldon Mills, Executive Director, Consumers and Competition at the Financial Conduct Authority (FCA) and Emily Martin, Assistant Secretary, Policy, and Engagement Branch, Consumer Data and Digital Division at The Treasury (Australia) , will debate on a session titled “ Open Banking: The Quest for Harmony ” on Tuesday, at 12:30 CET on the Elements Stage.
And if you’re looking to understand how regulators are creating competition between payment methods in Europe, how open finance will unlock opportunities outside of core banking, and discover whether Europe's ambition to be the global trailblazer for open finance will be realised, make sure you tune in for the “ What’s Next for Open Banking and Open Finance in Europe? ” session with Eric Ducoulombier, Head of Retail and Payments at the European Commission’s Department of Financial Stability and Capital Markets (DG FISMA) on Tuesday, 6 June at 15:50 CET on the Fusion Stage.
“ Making sense of MiCA ” on the Elements Stage on Wednesday, 7 June at 11:20 CET is Vishal Sacheendran, Director, MENA & Europe at Binance . The European Union has greenlighted its MiCA regulation plans, offering the first major step towards international legal clarity in crypto asset regulation. But while legal experts will be poring over every page of MiCA, what does a typical crypto professional or entrepreneur need to know?
Among this year’s most anticipated sessions counts “Finding DORA: A Deep Dive with European Banking Authority (EBA) Director Marilin Pikaro ”, which will take place on the Encore Stage on Wednesday, 7 June at 14:05 CET. Marilin will share the next steps from the EBA and its partners on the new regulatory framework, the Digital Operational Resilience Act (DORA), which is meant to strengthen the IT security of financial entities such as banks, insurance companies and investment firms against cyber attacks.
At 15:20 CET on Wednesday, 7 June on the Fusion stage, it’s Germany’s turn to discuss tokenised securities. Dr Florian Toncar, Parliamentary State Secretary at the Federal Ministry of Finance (Germany) will take on the stage to share how German regulators are driving the adoption of blockchain in the financial ecosystem on a session titled “ Fully Regulated Tokenization of Real World Assets: Germany ”.
Discover all of the regulatory sessions at Money20/20 Europe by exploring the full agenda here .
Media can register for a complimentary press pass here . ENDS
About Money20/20 Founded in 2011, Money20/20 creates destination shows where the most innovative people in payments, fintech and the broader financial services industry connect. Famed for their high-impact networking, the Europe edition, held in Amsterdam (6-8 June 2023) and the USA edition, held in Las Vegas (22-25 October 2023), are regarded as the place where money does business by financial services professionals. Money20/20 today officially launched an Asia edition in Bangkok on 23-25 April 2024. Money20/20 is the space where the industry's smartest visionaries and innovators come together to create the future of money. Visit Money20/20’s Asia site here . Money20/20 is an Ascential show. Follow Money20/20 on Twitter and LinkedIn for show developments and updates. Contacts
Media contacts
Tina Loncaric Global Head of Public Relations Money20/20 tina@money2020.com +1 469 288 5556
Ant Group Publishes 2022 Sustainability Report with ESG Strategy Implementation Progress Update
HANGZHOU, China--(BUSINESS WIRE)--Ant Group (or the “Company”) today released its 2022 Sustainability Report, highlighting progress made in implementing its Environmental, Social and Governance (ESG) strategy throughout 2022.
In the technological innovation field, Ant Group invested RMB 20.46 billion (approx. USD 2.89 billion) in research and development (R&D) in 2022, effectively doubling the company’s annual R&D spending in comparison to 2019. These investments were primarily allocated to innovations in key areas such as distributed databases and computing infrastructure, blockchain, privacy computing, data and network security, green computing, and artificial intelligence.
"Since our inception, we have been committed to harnessing technological innovation to tackle real-world challenges faced by communities. We believe that creating both commercial value and social value is key to driving our sustainable growth." Eric Jing, Chairman & CEO of Ant Group, wrote in his opening remarks of the report.
For instance, as highlighted in the Green and Low-carbon Development section of the Sustainability Report, Ant Group’s adoption of green computing technologies, which focuses on optimizing data center power efficiency and AI model training, played a crucial role in achieving significant carbon reductions of 62,127.53 tonnes of CO 2 e (carbon dioxide equivalent). These reductions apply to the Ant Group’s leased data centers and fall within the Company’s carbon emissions reduction in its value chain for 2022 . According to Ant Group’s Carbon Neutrality Roadmap , the Company will complete a full assessment of all greenhouse gas emissions in its entire supply chain by 2025. In 2022, Ant Group once again achieved operational carbon neutrality (Scope 1 & 2) for the second consecutive year , marking another step towards fulling its pledge to achieve net zero carbon emissions across Scope 1, 2 & 3 by 2030.
For the first time in the 2022 sustainability report, Ant Group introduced an assessment and disclosure framework in line with the guideline of the Task Force on Climate-related Financial Disclosures (TCFD). This helps the Company to actively identify and manage climate related risks and opportunities. Furthermore, the 2022 Sustainability Report outlined core performance baselines for all the identified material issues and had them assured by third parties. These performance indicators will help the Company track progress and enhance consistency, verifiability, and comparability of the Company’s sustainability records.
“Over the years, we have gradually explored a green and low-carbon growth path driven by technology and platform. Despite this, there are still significant challenges ahead to achieve our 2030 carbon net zero goal. We need to invest more efforts and resources, as well as make plans for the long-term,” Yijie Peng, Chief Sustainability Officer of Ant Group, wrote in the report. “We are committed to achieving green operations within our own organization and engaging with our extensive user base and partner network throughout the value chain for a greener collective future.”
In 2022, Ant Group and its associate MYbank participated in the formulation and release of the first nationwide Green Rating Standard for Small and Micro Enterprises (SMEs) . This collaborative effort aimed to make it easier for financial institutions to evaluate SMEs’ green operations and environmental contributions, and provide incentives such as green loans. By the end of 2022, on cumulative basis, MYbank had successfully completed green ratings for 6.23 million SMEs. Furthermore, it provided green loans to 420,000 SMEs with preferential rates as incentives.
In 2022, Ant Group assigned all 19 identified material issues detailed in its sustainability report to key executives and business leaders who are responsible for setting three-year objectives & key results (OKRs), and execution plans. For example, for the issue of inclusive growth of small & micro businesses, the Company diverged from conventional metrics such as user numbers or daily active users (DAU) that are commonly used by internet companies. Instead, the focus is on improving service accessibility for small and micro businesses who were previously deprived of such opportunities through other means. Additionally, lowering operational costs and improving operational efficiency for SMEs are also used as metrics.
“We firmly believe that a company’s future growth opportunities are closely related to its ability to help address social problems,” added Yijie Peng. “Therefore, creating integrated commercial and social values is at the core of our ESG strategy and empowers us to identify innovation opportunities and drive our sustainable growth in the future.”
In Digital Inclusion, Ant Group and its associate MYbank have provided inclusive payment and financial services to 86 million SMEs (including small business operators) on a cumulative basis, making steady progress towards the goal of serving 100 million SMEs by 2030. In 2022, the average volume of transactions of merchants’ mini-programs on the Alipay platform grew by 49.2% year-on-year. To address the material issue of international collaboration & cooperation, Ant Group supported global partners in making their services accessible to a total of 260 million customers, and made it easier for SMEs to participate in global trade via the Company’s cross-border payment and financial services.
In 2022, Ant Group reinforced its corporate governance commitment by establishing two specialized committees: the Risk Management and Consumer Rights Protection Committee and the ESG Sustainable Development Committee. These additions further solidified the Company's governance structure. To address the material issue of fostering industry empowerment and reciprocal development, the Alipay open platform collaborated with independent software vendors (ISVs) to create over 400 industry-specific solutions, assisting merchants from various industries in growing and improving efficiencies. The Ant Digital Finance open platform facilitated the annual addition of approximately one million users for over 150 partner financial institutions.
In 2022, Ant Group’s philanthropic donations amounted to RMB 790 million (approx. USD 111.6 million), bringing the cumulative philanthropic spending to RMB 2.7 billion (approx. USD 381.5 million) since 2019. Among these efforts, the "Cyber Mulan" program empowered women's development in three key areas: basic protection, employment and career support, and diverse growth opportunities. It provided 3.75 million insurance policies to rural women, offered job training and digital employment opportunities to 10,000 women, extended interest-free or lower-interest loans to over one million women entrepreneurs, and supported 70 rural female football teams.
Since 2017, Ant Group has been publishing annual sustainability reports, following the Global Reporting Initiative standards. These reports, can be found on Ant Group’s website (Chinese only for now, English edition will be online in the coming weeks).
About Ant Group
Ant Group aims to build the infrastructure and platforms to support the digital transformation of the service industry. Through continuous innovation, we strive to provide all consumers and small and micro businesses equal access to digital financial and other daily life services that are convenient, sustainable and inclusive.
For more information, please visit our website at www.antgroup.com or follow us on Twitter @AntGroup. Contacts
Media Inquiries Zhumei Wang zhumei.wzm@antgroup.com
Announcement Regarding the Progress of Thunder Bridge Capital Partners IV, Inc.’s Proposed Business Combination with Coincheck Group B.V.
GREAT FALLS, Va.--(BUSINESS WIRE)--Thunder Bridge Capital Partners Ⅳ, Inc. (“THCP” or “Thunder Bridge”), a special purpose acquisition company (“SPAC”) publicly listed on the Nasdaq Global Market (“Nasdaq”), is working closely with Coincheck Group B.V. (“CCG” or “Coincheck Group”), a consolidated subsidiary of Monex Group, Inc. (headquarters: Tokyo, Japan; Representative Executive Officer and CEO: Oki Matsumoto), which will be a holding company of Coincheck, Inc. (“Coincheck”), to complete the previously announced merger which will result in CCG becoming a publicly listed company on Nasdaq (the “CCG De-SPAC Transaction”) pursuant to the Business Combination Agreement, dated March 22, 2022, among THCP and CCG and certain of its affiliates (as amended from time to time, the “Business Combination Agreement”).
In response to the U.S. Securities and Exchange Commission’s (“SEC”) prolonged registration review process, THCP filed a proxy statement on May 31, 2023 in connection with a special meeting of stockholders of THCP that will be held on June 21, 2023 (the “THCP Stockholders Meeting”), which includes, among other things, a proposal to amend its amended and restated certificate of incorporation to extend the date by which THCP must consummate a de-SPAC transaction from July 2, 2023 to July 2, 2024 (the “Extension Proposal”).
In light of the above, the parties have agreed to amend the Business Combination Agreement to extend the deadline for completing the CCG De-SPAC Transaction for one year, subject to stockholder approval of the Extension Proposal at the THCP Stockholders Meeting.
Gary Simanson, President & Chief Executive Officer of THCP, said, “ As the process for our proposed business combination with Coincheck Group has progressed, it has also enabled us to build a strong working relationship with Oki Matsumoto and his team. Their commitment to professionalism, doing things the right way, and prudently managing the short-term, while also building and managing for the long-term, are the traits and characteristics that were clearly evident when we first evaluated the opportunity to combine our companies. How Oki and his team have conducted themselves the past 16 months strongly re-affirms our view and findings from when we initially conducted due diligence last year that they are an excellent business partner.
“ Given the stable fundamental business performance of Coincheck over the past year, in what has been a most uncertain and unstable time for the industry overall, Oki and his team’s steady hand throughout this period says it all, and speaks well of the future of the combined company and the opportunities that lie before us. Oki and I have frequently said during this time, that as a registered virtual currency exchange in Japan, Coincheck is well positioned to take advantage of the current disruptions in the industry and we believe the opportunities for a transparent, regulated, public company, are even more compelling today than when we first envisioned the proposed business combination.
“ We remain committed to completing the proposed business combination and are truly grateful to Oki and his team for their equal commitment to seeing the proposed transaction through and then, with our combined resources, going on to build an even greater global company.”
“ After more than a year of working with Gary Simanson and his team at Thunder Bridge, Coincheck Group remains committed to completing the business combination with Thunder Bridge and to gaining access to the U.S. capital markets,” said Oki Matsumoto, Chairman and Chief Executive Officer of Monex Group, Inc. “ The rationale for the proposed business combination and listing of Coincheck Group, as a holding company of a registered virtual crypto currency exchange in Japan, on the Nasdaq Global Market is more compelling than ever. By extending the deadline of the business combination for an additional twelve months, we are making a clear statement that we are committed to pursuing this strategic transaction. We look forward to working with Gary Simanson and his team to successfully consummate the proposed business combination and to having Coincheck Group become a publicly traded company on the Nasdaq Global Market.
“ The listing of CCG on Nasdaq through the CCG De-SPAC Transaction will enable us to gain exposure to international investors and to utilize Nasdaq-listed shares as effective currency for recruiting talent and making global acquisitions, thereby further expanding its crypto asset business. We intend to continue our efforts toward completing the CCG De-SPAC Transaction in accordance with the Business Combination Agreement.”
ADDITIONAL INFORMATION AND WHERE TO FIND IT
For additional information on the CCG De-SPAC Transaction, see THCP’s Current Report on Form 8-K filed with the SEC on March 22, 2022. In connection with the proposed business combination, the parties intend to file relevant materials with the SEC, including a registration statement on Form F-4 to be filed by CCG with the SEC, which will include a proxy statement/prospectus of THCP, and will file other documents regarding the proposed business combination with the SEC. THCP’s stockholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus and the amendments thereto and the definitive proxy statement and documents incorporated by reference therein filed in connection with the proposed business combination, as these materials will contain important information about CCG, Coincheck, THCP and the proposed business combination. Promptly after the Form F-4 is declared effective by the SEC, THCP will mail the definitive proxy statement/prospectus and a proxy card to each stockholder entitled to vote at the meeting relating to the approval of the proposed business combination and other proposals set forth in the proxy statement/prospectus. Before making any voting or investment decision, investors and stockholders of THCP are urged to carefully read the entire registration statement and proxy statement/prospectus, when they become available, and any other relevant documents filed with the SEC, as well as any amendments or supplements to these documents, because they will contain important information about the proposed business combination. The documents filed by THCP with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov , or by directing a request to Thunder Bridge Capital Partners IV, Inc., 9912 Georgetown Pike, Suite D203, Great Falls, Virginia 22066, Attention: Secretary, (202) 431-0507.
PARTICIPANTS IN THE SOLICITATION
THCP and its directors and executive officers may be deemed participants in the solicitation of proxies from its stockholders with respect to the proposed business combination. A list of the names of those directors and executive officers and a description of their interests in THCP will be included in the proxy statement/prospectus for the proposed business combination when available at www.sec.gov . Information about THCP’s directors and executive officers and their ownership of THCP common stock is set forth in THCP prospectus, dated June 29, 2021, as modified or supplemented by any Form 3 or Form 4 filed with the SEC since the date of such filing. Other information regarding the interests of the participants in the proxy solicitation will be included in the proxy statement/prospectus pertaining to the proposed business combination when it becomes available. These documents can be obtained free of charge from the source indicated above.
CCG, Coincheck, THCP and their respective directors and executive officers may also be deemed to be participants in the solicitation of proxies from the stockholders of THCP in connection with the proposed business combination. A list of the names of such directors and executive officers and information regarding their interests in the proposed business combination will be included in the proxy statement/prospectus for the proposed business combination.
FORWARD-LOOKING STATEMENTS
This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. These forward-looking statements include, but are not limited to, statements regarding Coincheck’s industry and market sizes, future opportunities for CCG, Coincheck and THCP, Coincheck’s estimated future results and the proposed business combination between THCP and Coincheck, including the implied enterprise value, the expected transaction and ownership structure and the likelihood, timing and ability of the parties to successfully consummate the proposed transaction. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements.
In addition to factors previously disclosed in THCP’s reports filed with the SEC and those identified elsewhere in this communication, the following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: inability to meet the closing conditions to the business combination, including the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement; the inability to complete the transactions contemplated by the Business Combination Agreement due to the failure to obtain approval of THCP’s stockholders, the failure to achieve the minimum amount of cash available following any redemptions by THCP stockholders, redemptions exceeding a maximum threshold or the failure to meet Nasdaq listing standards in connection with the consummation of the contemplated transactions; costs related to the transactions contemplated by the Business Combination Agreement; a delay or failure to realize the expected benefits from the proposed business combination; risks related to disruption of management’s time from ongoing business operations due to the proposed business combination; changes in the cryptocurrency and digital asset markets in which Coincheck competes, including with respect to its competitive landscape, technology evolution or regulatory changes; changes in domestic and global general economic conditions, risk that Coincheck may not be able to execute its growth strategies, including identifying and executing acquisitions; risk that Coincheck may not be able to develop and maintain effective internal controls; and other risks and uncertainties indicated in THCP’s final prospectus, dated June 29, 2021, for its initial public offering, and the proxy statement/prospectus relating to the proposed business combination, including those under “Risk Factors” therein, and in THCP’s other filings with the SEC. CCG, THCP and Coincheck caution that the foregoing list of factors is not exclusive.
Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. All information set forth herein speaks only as of the date hereof in the case of information about THCP and Coincheck or the date of such information in the case of information from persons other than THCP or Coincheck, and we disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this communication. Forecasts and estimates regarding Coincheck’s industry and end markets are based on sources we believe to be reliable, however there can be no assurance these forecasts and estimates will prove accurate in whole or in part. Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results.
NO OFFER OR SOLICITATION
This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business combination. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom. Contacts
Gary A. Simanson 202.431.0507 gsimanson@thunderbridge.us
Gen Z Investors Love Crypto, Gold and Banking Stocks, According to New Apex Q1 2023 Investor Study
- Apex Next Investor Outlook report reveals generational investing trends - Data shows surprising response to SVB fallout
DALLAS--(BUSINESS WIRE)--The Q1 2023 Apex Next Investor Outlook (ANIO) report revealed surprising investing trends across generations in response to major market-moving triggers, including the fallout from the Silicon Valley Bank crisis and ongoing stock volatility. The study utilizes data from Apex Fintech Solutions (“Apex”), the fintech for fintechs powering innovation and the future of digital wealth management. The study revealed trend-bucking data, including increased Gen Z demand for both gold and crypto as well as strong millennial interest in buying bank stocks amidst uncertainty in the banking industry.
The ANIO report analyzes investor data who trade through introducing brokers on the Apex Clearing Platform - across more than 1.3m Gen Z accounts and 5.6m accounts held by Millennials, Gen Z and Boomers, calculated from January 1 - March 31, 2023.
The following data refers to the rankings of the most commonly held securities at Apex by generation in Q1 2023. The data shows a given ticker’s movement within this ranking system among a particular generation. These observations are for informational purposes about generational trends and are not investment advice. Key report findings include: SVB ripple effect across generations: Gen Z investors were measurably more fazed by bank uncertainty than other generations who have first-hand experience with prior financial crises. On March 29 - the peak selloff day for bank stocks - Gen Z sold securities at an even higher rate than all other groups of older investors. Millennials are rocking the bank stocks: While older generations were selling off bank stocks, many millennials bought instead - shares of Charles Schwab (SCHW) shot up 21 places in the ranking amongst millennials, even while its overall market value plummeted by nearly 33%. Millennials also invested in First Republic Bank (FCRB), moving it up 25 positions in the rankings compared to Q4 2022. All generations agree on their favorite seven stocks: Across generations, the top seven largest holdings held in retail accounts on the Apex platform were: 1. TSLA 2. AAPL 3. AMZN 4. MSFT 5. NVDA 6. GOOG/GOOGL 7. META. Investors get zealous about gold: While global retail demand for gold dropped 13% YoY from Q1 2022, investors on the Apex platform were more zealous; in one week, from March 6 through March 13, the notional value of these investments increased 560%. Gen Z still likes crypto and digital: Gen Z’s three hottest, climbing-the-ranks stocks in Q1 include a crypto-economy company (COIN); a Bitcoin ecosystem provider (MARA), and a cybersecurity business (CRWD).
“Gen Z investors were in elementary school when Lehman Brothers crashed in 2008 - so in many respects, the Q1 bank crisis was really that generation’s first true financial crisis,” comments Connor Coughlin, Chief Commercial Officer, Fintech at Apex Fintech Solutions. “This is a generation that invests in disruptors and against expected trends - and over $70 trillion in assets will be passed down to this generation in the coming decades. Fintechs and advisors need to understand the attitudes, interests and values of this digital and disruptive generation.”
About Apex Fintech Solutions
Apex Fintech Solutions is a fintech powerhouse enabling seamless access, frictionless investing, and investor education for all. Apex’s omni-suite of scalable solutions fuel innovation and evolution for hundreds of today’s market leaders, challengers, change-makers, and visionaries. The Company’s digital ecosystem creates an environment where clients with the biggest ideas are empowered to change the world. Apex works to ensure their partners succeed on the frontlines of the industry via bespoke custody & clearing, advisory, institutional, digital assets, and SaaS solutions through its Apex Clearing™, Apex Advisor Solutions™, Apex Silver™, and Apex CODA Markets™ brands.
For more information, visit the Apex Fintech Solutions website: https://www.apexfintechsolutions.com. Contacts
MEDIA: Vested apex@fullyvested.com
Banking Powerhouse SBI Commits to Empowering XDC, Expanding XDC Network's Footprint in Japan
ABU DHABI, United Arab Emirates--(BUSINESS WIRE)-- XDC Network (represented by TradeFinex Tech Ltd) is pleased to announce its partnership with SBI VC Trade Co. Ltd., a prominent Japan's cryptocurrency exchange within the SBI Group. This strategic collaboration marks a significant milestone for XDC Network as it expands its ecosystem in the Japanese market.
XDC Network offers a robust blockchain Network designed specifically for enterprises use cases like trade finance, payments and real world asset tokenization. With a focus on enhancing efficiency in the estimated annual 2,000 trillion yen trade finance market, XDC Network provides high speed transactions and significantly lower gas fees being energy efficient, making it an ideal choice for efficient operations.
“We are thrilled to partner with SBI VC Trade and bring the XDC ecosystem to the Japanese market,” said Atul Khekade, co-founder at XDC Network. “Japan is a crucial hub for international trade, and our blockchain platform aims to streamline this sector by improving transparency, traceability, and reducing costs. Through our collaboration with SBI VC Trade, we look forward to empowering businesses and financial institutions in Japan with the benefits of the XDC Network.”
“We are delighted to expand our cryptocurrency offerings by adding XDC to our exchange,” stated Fumiki Ozaki, President and CEO of SBI VC Trade Co., Ltd. “XDC Network brings a unique value proposition to the trade finance market, and we believe its addition will enhance our customers' trading experience. SBI VC Trade remains committed to providing comprehensive services that prioritize customer satisfaction, and this partnership with XDC Network aligns perfectly with our customer-centric philosophy.”
As XDC Network enters the Japanese market through its partnership with SBI VC Trade , it aims to drive digital transformation in the trade finance industry and establish itself as a global leader in blockchain solutions for enterprises and financial institutions.
About XDC Network:
The XDC Network is an open-source, carbon-neutral, enterprise-grade, EVM-compatible, Layer 1 blockchain that has been operationally successful since 2019. The network obtains consensus via a specially delegated proof-of-stake (XDPoS) technique that allows for 2-second transaction times, near-zero gas expenses ($0.0001), over 2000 TPS, and interoperability with ISO 20022 financial messaging standards. The XDC Network powers a wide range of novel blockchain use cases that are secure, scalable, and highly efficient.
*Source: AETOSWire Contacts
Nadar Suresh suresh@xinfin.org
TRON MainNet's Fifth Anniversary: A Landmark in the Rise of a World-Leading Public Chain
NEW YORK--(BUSINESS WIRE)--On May 31, TRON celebrated the fifth anniversary of its MainNet launch since its debut in 2018. The TRON ecosystem is now on a roll after five years of development. Impressing the industry with one achievement after another, it has grown into a leading public chain in the world. Against the ever-fiercer competition among public chains around the world, TRON has stood out with its second-to-none performance, scalability, and security, attracting masses of developers and users worldwide. Following TRON's anniversary, the Hong Kong's Securities and Futures Commission (SFC) will begin accepting applications for crypto trading platform licenses on June 1. As a top-tier public chain with a Chinese background, TRON has promised full support for Hong Kong's efforts to develop Web 3.0.
Build a sound ecosystem with industry-wide collaboration
TRON was founded by Justin Sun in 2017, and its MainNet went live on May 31, 2018. Five years into the launch of its MainNet, TRON now has over 162M users worldwide and has processed to the tune of 5.6B transactions. It also outshines the pack with a TVL (Total Value Locked) of $5.76B, only trailing Ethereum.
TRON has contributed to an open, established ecosystem via partnerships across the industry. Judging from its high-level design, TRON has developed a robust stablecoin ecosystem comprising USDT, USDC, TUSD, USDJ, and USDD, which supports a whole gamut of compliant and decentralized stablecoin-related businesses with high circulation and collateral ratios.
According to the data on Tether's website, the circulating supply of TRC20-USDT has exceeded 46.1B, way higher than that of ERC20-USDT (36B), accounting for 60% of USDT's total supply.
Meanwhile, TRON is also working towards building a diversified stablecoin network and a sounder public chain ecosystem for users through its sustained efforts to grow the business of USDC, TUSD, USDD, and USDJ, among other stablecoins.
Powered by a secure, cost-effective, and efficient underlying blockchain, the TRC-20 protocol launched by TRON has become the go-to choice among on-chain users. In addition, TRON has developed a well-rounded ecosystem covering the hotly contested fields in the sector, including NFTs, GameFi, stablecoins, the metaverse, cross-chain solutions, and DIDs, with the commitment of a group of active developers.
According to Justin Sun, TRON aims to elevate its on-chain stablecoin market cap to $100B in 2023 and strives to become the preferred choice for stablecoin users by positioning itself as "a more affordable and user-friendly version of Ethereum".
Make strides towards globalization and full compliance
TRON is committed to maintaining full compliance with regulatory requirements and works closely with governments and regulators worldwide to achieve this goal. Putting compliance at the front and center, TRON delves into local regulations and proactively engages in discussions on policy formulation and industry standards, ensuring that its ecosystem grows robustly while remaining fully compliant.
With branches in North America, Europe, and Asia-Pacific, TRON has a global presence in numerous countries and regions. Additionally, it has established solid cooperation with financial regulators in multiple countries to facilitate compliance within the digital currency and blockchain industry.
In October 2022, seven existing TRON-based tokens were granted statutory status as authorized digital currencies in Dominica, and TRON was designated as the national blockchain for the country. This collaboration blazed a trail for blockchain projects to explore technology application and development with sovereign countries. Subsequently, TRON also expressed its good will to forge a comparable partnership with Sint Maarten, as well as other countries and regions.
On top of that, TRON has obtained the go-ahead from a number of key regulators across the globe by virtue of its technical prowess and global compliance strategy. In September 2021, TRON listed TRX ETN jointly with VanEck, the world-leading asset management firm, on Deutsche Börse and facilitated its trading on the major exchanges in 14 European countries. Outside Europe, TRON has expanded its presence in the Asian and North American markets, laying a strong foundation for its global service. In 2022, Hong Kong outlined a new crypto licensing regime, and TRON is poised to fully support Hong Kong's Web 3.0 development.
Justin Sun expressed his confidence that TRON will delve deeper into blockchain technology and the blockchain industry, thereby playing its role in building a secure, efficient, and decentralized world of Web 3.0 and propelling the global digital economy forward. Contacts
TRON Network Limited Penny Ken service@tron.network
Cathedra Bitcoin Announces First Quarter 2023 Financial Results
TORONTO--(BUSINESS WIRE)-- $CBIT #Bitcoin --(Block Height: 792,140) – Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) (“ Cathedra ” or the “ Company ”), announces the results of its operations for the first quarter and three months ended March 31, 2023 (“ Q1 2023 ”).
First Quarter 2023 Financial Highlights Gross bitcoin produced by mining operations increased by 12% to 64.5 bitcoin, compared to 57.8 bitcoin in Q1 2022. Revenue from bitcoin mining operations decreased by 35% to C$2.0 million, compared to C$3.1 million in Q1 2022, mainly from the change in the daily average bitcoin price for the quarter of US$22,875, compared to US$53,481 in Q1 2022. Revenue from bitcoin mining operations increased by 20% quarter-over-quarter to C$2.0 million, compared to C$1.7 million in Q4 2022. The Company liquidated certain credits and coupons from third-party suppliers for approximately US$1.8 million in cash proceeds in Q4 2022 and Q1 2023. The Company announced the settlement of C$2.5 million of the outstanding principal amount of its 3.5% senior secured convertible debentures into 18,518,518 common shares of the Company, which were issued at a deemed price of C$0.135 per share. After the closing of the transaction on April 10, 2023, the convertible debentures have an outstanding principal balance of C$19.9 million, which is due upon maturity on November 11, 2024. As of May 30, 2023, the Company held approximately C$3.8 million of cash and approximately C$664,600 of bitcoin (17.63 BTC) for total cash and bitcoin liquidity of approximately C$4.5 million.
First Quarter 2023 Operational Highlights The Company deployed an additional 920 Bitmain S19J Pros at its legacy Washington facility. The Company entered into a hosting agreement under which it has deployed 490 Bitmain S19J Pros and 50 Bitmain S19 XPs at a third-party data center in Kentucky. The hosting agreement has an initial term of 12 months, and the Company will pay a fixed rate of US$0.07 per kilowatt hour plus 10% of gross bitcoin revenue produced by the hosted machines. The Company entered into 24-month lease and operating agreements for a 2.5-megawatt bitcoin mining facility in Washington State under which the Company pays US$0.06 per kilowatt hour plus 10% of gross bitcoin revenue produced by the Company’s machines at the facility. The Company also received the right of first opportunity to purchase the facility and several adjacent facilities which together total approximately 10 megawatts of bitcoin mining capacity. The Company completed an optimization of its operations across two sites by “underclocking” certain of its existing machines—reducing power draw to improve machine efficiency, as measured by energy consumed per unit of hash rate produced. This optimization improved average machine efficiency at the sites by approximately 36%, increasing the Company’s operating cash flow margins. As of May 30, 2023, the Company’s active bitcoin mining hash rate totaled 343 PH/s across three states and seven locations in the United States. The Company expects to deploy at least an additional 35 PH/s at its new leased facility in Washington in the coming weeks.
Management Commentary
“During the first few months of 2023, we have continued to generate free cash flow and have begun building our bitcoin treasury again. In Q1, we announced plans to deploy the remaining new machines from our Q4 2021 futures orders and made significant progress toward completing those deployments,” remarked CEO AJ Scalia. “At time of publication, we are generating approximately 28.16 gross bitcoin per month at an average cash cost of US$13,983 per bitcoin across a hash rate portfolio totaling 343 PH/s.
“In addition to the remaining 35 PH/s we expect to install at our new Washington facility imminently, we continue to evaluate opportunities to deploy our 11 modular data centers and over 2,000 idle older-generation machines to further increase our portfolio of hash rate. With our industry-leading underclocking capabilities, we believe we can improve the power efficiency of these machines to render them profitable even as challenging bitcoin mining conditions persist.”
About Cathedra Bitcoin
Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) is a Bitcoin company that believes sound money and abundant energy are the keys to human flourishing. The Company has diversified bitcoin mining operations which produce 343 PH/s across three states and seven locations in the United States. The Company is focused on managing and expanding its portfolio of hash rate through a diversified approach to site selection and operations, utilizing multiple energy sources across various jurisdictions.
For more information about Cathedra, visit cathedra.com or follow Company news on Twitter at @CathedraBitcoin or on Telegram at @CathedraBitcoin .
Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. The information in this release about future plans and objectives of the Company, are forward-looking information. Other forward-looking information includes but is not limited to information concerning: the intentions and future actions of senior management, the intentions, plans and future actions of the Company, as well as the Company’s ability to successfully mine digital currency; revenue increasing as currently anticipated; the ability to profitably liquidate current and future digital currency inventory; volatility of network difficulty and, digital currency prices and the resulting significant negative impact on the Company’s operations; the construction and operation of expanded blockchain infrastructure as currently planned; and the regulatory environment of cryptocurrency in applicable jurisdictions.
Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.
This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law. Contacts
Please contact: Sean Ty Chief Financial Officer ir@cathedra.com
SaaS Data Protection Leader Keepit Appoints Craig Bumpus as Chief Revenue Officer
Industry-Leading Revenue Strategist to Help Drive Company’s Next Phase of Growth
COPENHAGEN, Denmark--(BUSINESS WIRE)-- #Canada -- Keepit , the market leader in cloud data protection and management, today announced the appointment of Craig Bumpus to the position of Chief Revenue Officer (CRO). In this role, Bumpus will be responsible for building Keepit’s go-to-market and associate strategies and setting a clear and concise direction in close collaboration with Chief Executive Officer (CEO) Frederik Schouboe.
“Our aggressive growth and continued focus on technological innovation has brought Keepit to a new intersection where coordination and orchestration of projects and initiatives is critical,” said Schouboe. “As CRO, Craig will be a central part of ensuring that the company establishes a red thread throughout our go-to-market approaches. Keepit is focused on building the right commercial strategy, bolstering our commercial preparedness and aligning execution across markets and channels. Craig has a well-established track record as a leader of high-performance teams, and his customer-first approach is a great fit for Keepit. We are excited to welcome him to the company.”
With nearly three decades in the information technology (IT) industry, Bumpus is a seasoned revenue and business leader with extensive experience in channel development, sales enablement, operations, customer success, and go-to-market strategy. Prior to joining Keepit , he served as CRO at Qumulo and at UiPath, where he grew the company from $25 million to over $400 million. Other previous roles include serving as senior vice president of Sales at Nutanix, where he scaled the company from $70 million to over $1 billion, and serving in senior sales leadership roles at Sophos, Cisco Systems, Utimaco and DPC.
“Keepit is growing lightning fast and is on an ambitious and complex mission of continued evolution and expansion. I look forward to the opportunity to help shape the channel strategy of this company and work with a team that has demonstrated tremendous innovative capabilities,” said Bumpus. “Keepit’s unique technology provides endless opportunities to evolve further in the data protection space. The genius of the tech stack and the adaptability of its services allow Keepit to continuously serve the data protection needs of businesses and organizations as they step into the fully cloud-based future.”
Keepit has customers all over the world. For more information on customer cases, visit https://www.keepit.com/customers/ .
About Keepit
Keepit is a software-as-a-service company that protects cloud data for organizations, ensuring business continuity and access to information. Keepit is the world’s only independent backup and recovery solution and keeps data tamper-proof and resilient to cyberattacks and human error. Headquartered in Copenhagen with offices and data centers globally, Keepit is trusted by companies worldwide and across all industries to protect and manage their SaaS data.
For more information visit www.keepit.com or follow Keepit | LinkedIn . Contacts
RedIron PR for Keepit kari@redironpr.com
SecuX and Trend Micro Collaborate to Launch Cold Wallet
First to Integrate Trend Micro ChainSafer Blockchain Reputation Service, SecuX W20 offers comprehensive security solution from Web2 to Web3
TAIPEI, Taiwan--(BUSINESS WIRE)-- $secux #Bitcoin -- SecuX , a blockchain security and cryptocurrency hardware wallet company, has announced its collaboration with Trend Micro ( TYO: 4704 ; TSE: 4704 ), a global cybersecurity leader, launching W20 Trend Micro edition cold wallet pre-loaded with Trend Micro ChainSafer blockchain reputation service. The W20 offers users comprehensive protection covering Web2 and Web3, enhancing authentication, anti-counterfeiting, and anti-fraud capabilities.
Users of the SecuX W20 Trend Micro edition cold wallet can enjoy one year of free ChainSafer security protection provided by Trend. By mitigating the risks associated with scams and security gaps in cryptocurrency and NFT transactions, users can more securely manage digital assets stored in Web3. The recently launched SecuX Nifty-X NFT cold wallet also comes with a free one-year ChainSafer premium service.
Cryptocurrency Trading Risks Continue to Rise
SecuX Technology has steadfastly committed to protecting users' digital assets in increasingly complex and volatile cryptocurrency trading. While full of potential, the market has witnessed a surge in illicit activities, including a staggering $100 million worth of NFTs stolen between July 2021 and 2022. Recognizing these rising threats, SecuX has focused on enhancing security and protection at all levels, leading the charge in developing blockchain security products and services.
Peter Chen, Chairman of SecuX Technology, addressed this commitment: "SecuX has always prioritized security, striving to enhance protection and safety at all levels, ensuring the development of the highest quality blockchain security products and services. We are honored to have the opportunity to leverage Trend's outstanding cybersecurity expertise built over the past 30 years, allowing SecuX users to manage their assets with peace of mind in a more secure environment and without worries, ultimately providing a better user experience."
Phishing Scams Prevention and Cold Wallets
Trend's global footprint and expertise in cybersecurity is a perfect ally for SecuX's emphasis on user security. Trend's Metaverse security program, led by Sam Ku, is designed to protect users against threats, particularly in the emerging Web3 environment. Sam underscores the evolving risks from viruses, fraud, and phishing, which threat actors continually exploit.
Ku said, "From the inception of blockchain technology to the recent rise of the metaverse, Trend has been at the forefront of cybersecurity research to prepare for unforeseeable risks. We are excited to collaborate with SecuX. With Trend's cybersecurity expertise, we provide end-to-end protection from the first line of defense to securing cold wallet devices and safe-guarding cryptocurrency transactions."
Leveraging SecuX's unwavering commitment to secure digital asset management and Trend's cybersecurity expertise, this collaboration promises a safer future for users within the cryptocurrency space.
Trend Micro ChainSafer Blockchain Reputation Service + Easy to Use Cold Wallet: Protecting Digital Assets Has Never Been Easier!
SecuX and Trend Micro have collaborated to launch the W20 Trend Micro edition hardware wallet , focusing on providing users with enhanced security features. The W20 wallet comes with Trend Micro's exclusive ChainSafer blockchain credibility rating service, offering improved anti-counterfeiting and anti-fraud capabilities for Web2 and Web3 authentication. The wallet incorporates security features to eliminate security risks and human errors, such as storing the private key offline in an Infineon Secure Element chip, a large 2.8-inch touchscreen enabling hands-on clear-sign, and cross-chain support for over 10,000 cryptocurrencies and Ethereum NFTs. Compatible with existing antivirus software, the wallet offers an extra layer of protection. W20 users will receive one year of free Trend Micro ChainSafer blockchain reputation service protection, while users of other SecuX wallets can download it for a fee. The two companies also plan to offer scam-alert services to users of the recently launched SecuX Nifty-X, the premium metallic edition of the world's first NFT hardware wallet, as well as the security-themed soulbound NFT project MnemonicX 2048 .
The W20 hardware wallet, powered by Trend Micro's ChainSafer blockchain reputation service, acts as a comprehensive antivirus engine for digital assets like cryptocurrencies, NFTs, and wallets. Trend also plans to introduce the ChainSafer browser, designed to block phishing websites, detect malicious sites or scam links, and display warning windows when users connect to websites, further enhancing cryptocurrency transaction security.
About SecuX
SecuX is a blockchain security company devoted to developing comprehensive solutions to secure valuable digital assets. Established in 2018 with strong supply chain management and flexible design capability, SecuX offers tailor-made and a variety of products, including vault-grade cryptocurrency cold wallet V20, W20, and W10, as well as NFT-focused hardware wallet SecuX Nifty, stainless-steel crypto seed backup solution X-SEED series, and payment solutions for merchants. Equipped with Infineon Secure Element chip and large 2.8 inch color touchscreen, SecuX Nifty is not only the world's first cold wallet that enables NFT display for clear-view signing, it also received the prestigious European Product Design Award and the Golden Pin Product Design Award in 2022, and iF Design Award in 2023.
About Trend Micro
Trend Micro is a global leader in cybersecurity, dedicated to building a safe world for information exchange. With decades of cybersecurity expertise, global threat research, and continuous innovation, Trend Micro's security platform spans across cloud, network, devices, and endpoints, protecting hundreds of thousands of organizations and millions of individual users worldwide. As a leader in cloud and enterprise network security, our platform is designed to provide optimized advanced threat defense technologies for environments such as AWS, Microsoft, and Google, offering better visibility and faster, more effective threat detection and response. Trend Micro has over 7,000 employees in 65 countries, helping organizations protect their connected world. For more information, please visit: www.trendmicro.com Contacts
SecuX Technology Inc. Tel: +886-3-5670245 For more information, please visit https://secuxtech.com Marketing and PR inquiries: marketing@secuxtech.com PR contact: Alice Bo-Wen Chang alicechang@secuxtech.com
Trend Micro Communications Tel: +1-817-522-7911 media_relations@trendmicro.com
Europe’s Rockstars Take Their Stages At Money20/20
● Lily Cole, renowned author, supermodel, activist and entrepreneur, will be dazzling the audience at Money20/20 Europe with her innovative ideas and passion for change ● Among this year’s rockstar speakers are top executives from HSBC, GoCardless, The European Banking Authority, Google, IBM, Spotify, and Booking.com
LONDON--(BUSINESS WIRE)-- Money20/20 , the world’s leading fintech show, regarded as the place where money does business, unveils this year’s biggest and boldest names taking the stages at the European show at RAI Amsterdam on 6-8 June.
Money20/20 Europe is set to host over 300 industry-leading speakers, including visionary executives from global banks like HSBC, Barclays, and J.P. Morgan; trailblazing fintechs such as GoCardless, Stripe, and Plum, and representatives from both national and supranational European governments.
The diverse roster of speakers is set to dissect the myriad of challenges confronting players within the money ecosystem, ranging from reverberations of the crypto crackdown to the new frontiers of generative AI, forthcoming European regulations and their first-hand experience leading their companies through the turbulent last 12 months.
"We are thrilled to unveil such an extraordinary lineup of speakers for Money20/20 Europe," said Scarlett Sieber, Chief Strategy & Growth Officer at Money20/20 . “Our agenda and speaker lineup has been carefully curated to offer the industry’s boldest and brightest voices a platform to share their unique expertise and thought leadership, ensuring our audience will gain invaluable insights to take on the challenges lying ahead full on.”
Taking on the Encore Stage on Tuesday, 6 June at 10:40 CET, will be the iconic Lily Cole, renowned author, supermodel, activist and entrepreneur in an exclusive, sit-down interview with Money20/20 President, Tracey Davies . Lily, known for her podcast and book “Who Cares Wins”, will outline the importance of new, care-led strategic approaches, in a world faced with accelerating climate risks, financial inequality and the increasing global complexity of money.
Waze Co-Founder and author of "Fall in Love with the Problem, Not the Solution – A Handbook for Entrepreneurs", Uri Levine, will follow on the Encore Stage on Tuesday, 6 June at 11:05 CET to share his first-hand experience founding Waze and Moovit, which were acquired by Google and Intel respectively, and share must-see top tips for startups and entrepreneurs.
"I am happy to participate at Money20/20 Europe where I will share my insights and advice on building successful startups based on my personal journey building two unicorns - Waze and Moovit and more than a dozen additional startups. The key to a startup's success is solving a problem. A big problem that affects a large number of people. In today's economic climate, it's also crucial to have access to experienced mentors who can provide shortcuts to growth and improve the chances of succeeding. I am honoured to be on stage and provide my "cookbook" for startup success, also reflected in my book. My talk will cover the challenges of the startup journey, including both success and failure, the importance of understanding users, and how to make the hard decisions in building the right team and company DNA." - Uri Levine.
Hiroki Takeuchi, Co-founder and CEO of GoCardless is also among Money20/20’s high-profile speakers. He will take the stage on Wednesday, 7 June at 10:15 for a session with NatWest Groups’ Chief Payments Officer, Mark Brant , to discuss their recent partnership and what’s next in payments.
“I'm excited to speak at Money2020. I hope my session on the future of payments will encourage everyone to seize the once-in-a-generation opportunities in front of us and push innovations like open banking to their full potential, helping businesses and consumers everywhere,” said Hiroki Takeuchi.
Victor Trokoudes, CEO & Co-Founder of Plum , will speak on the Fusion Stage on Wednesday, 7 June at 12:10 CET on how Plum achieved sustainable growth despite tough economic conditions, and return to debate the next era for wealthtech with Ruth Handcock, CEO of Octopus Investments on the Elements Stage at 16:05 CET.
“I’m very excited about speaking at Money20/20. It’s an honour to be presenting alongside such a range of industry leaders. I look forward to addressing how Plum has grown across multiple markets in Europe and the importance of culture and finding the right employees. I remember attending Money20/20 when I was building Plum and found it so inspirational learning from other expert speakers. Being asked to appear at such a marquee, prestigious event is a reflection of Plum’s expansion which is truly the result of our employees dedication and hard work" - Victor Trokoudes
Further highlights from the exceptional speaker lineup include:
● Rumman Chowdhury, Harvard University: mitigating bias in AI systems
● Ian Stuart , HSBC: HSBC’s acquisition of SVB
● Kirsteen Harrison, Zumo Enterprise : nurturing a climate-conscious crypto sector
● Philip Belamant , Zilch : regulation as a catalyst for innovation
● Vishal Sacheendran, Binanc e: making sense of MiCA
● Nan Ransohoff , Stripe : the race to remove carbon from the atmosphere
● Marilin Pikaro, European Banking Authorit y: finding DORA
● Dr Florian Toncar, German Federal Ministry of Finance : Germany’s blockchain adoption plans
● Sandra Alzetta, Spotify & Shahrokh Moinian, J.P. Morgan: TechMate, The Payments and Tech Gameshow
● Alexander Ermakovich, Booking.com: when customer experience and customer protection collide
● Rik Goslinga, PayPal & Alessandra Grendele, Carrefour: insights into consumer life
● David Grunwald, NatWest Group : the power of partnerships for innovation
● Alexandra Maniati, European Banking Federation & Brent Phillips, Deutsche Bank: European cloud policy
● Martin Runow, Barclays: what makes a successful ISO 20022 implementation
● Sam Everington, Engine by Starling: a UK export success story
● Mandy Lamb, Visa; Kenneth Hart, Snowdrop Solutions & Nicola Dalmazzo, Google Maps Platform: how their recent partnership can map, scale and provide compelling consumer experiences
● Ray Harishankar & Mary Ann Francis, IBM: the impact of quantum computing on banking, payments and financial services
The Money20/20 Europe agenda of confirmed speakers can be found here .
Media can register for a complimentary press pass here . ENDS
About Money20/20
Founded in 2011, Money20/20 creates destination shows where the most innovative people in payments, fintech and the broader financial services industry connect. Famed for their high-impact networking, the Europe edition, held in Amsterdam (6-8 June 2023) and the USA edition, held in Las Vegas (22-25 October 2023), are regarded as the place where money does business by financial services professionals. Money20/20 today officially launched an Asia edition in Bangkok on 23-25 April 2024. Money20/20 is the space where the industry's smartest visionaries and innovators come together to create the future of money. Visit Money20/20’s Asia site here . Money20/20 is an Ascential show. Follow Money20/20 on Twitter and LinkedIn for show developments and updates. Contacts
Tina Loncaric Global Head of Public Relations Money20/20 E: tina@money2020.com M: +1 469 288 5556
Bakkt To Participate in the Piper Sandler Global Exchange & FinTech Conference
ALPHARETTA, Ga.--(BUSINESS WIRE)--Bakkt Holdings, Inc. (NYSE: BKKT) announced today that it will participate in the Piper Sandler Global Exchange & FinTech Conference on Thursday, June 8, 2023. Gavin Michael President and Chief Executive Officer will participate in a fireside chat beginning at 2:00PM ET.
Interested parties can listen to a live audio webcast of the presentation from the investor relations section of the company’s website at www.bakkt.com . Replays of the webcast will also be available after the event.
About Bakkt
Founded in 2018, Bakkt builds technology that connects commerce. Our vision is to connect the digital economy by offering one platform for cryptocurrency, loyalty, and commerce. We enable our partners and clients to deliver new opportunities to their customers through SaaS and API solutions that unlock crypto and drive loyalty, powering engagement and performance. Bakkt is headquartered in Alpharetta, GA. For more information, visit: https://www.bakkt.com/ | Twitter @Bakkt | LinkedIn https://www.linkedin.com/company/bakkt/ .
Bakkt-C Contacts
Investor Relations Ann DeVries, Head of Investor Relations Ann.DeVries@bakkt.com
Media Lauren Post, Head of Communications Lauren.Post@bakkt.com
Polymesh Joins NayaOne Network, Enabling Financial Services Industry to Harness the Power of Blockchain Technology
ZUG, Switzerland--(BUSINESS WIRE)--Polymesh, the leader in public-permissioned blockchain, announced today its integration into the ecosystem of NayaOne, a leading digital transformation platform for the financial services industry. This integration provides exciting opportunities for financial institutions to effectively and efficiently leverage the benefits of blockchain technology and build innovative products tailored to their unique needs.
Polymesh is a highly secure and regulatory-focused blockchain platform designed specifically for the financial services industry. By joining the NayaOne network, Polymesh gains access to a wide range of financial institutions seeking to embrace the potential of blockchain technology.
With the integration of Polymesh, financial institutions using NayaOne can deploy and launch Polymesh nodes within days. The NayaOne Sandbox is used for rapid experimentation in areas such as asset tokenization, fraud, compliance, and decentralized finance (DeFi). With its robust platform, NayaOne simplifies technical complexities, fosters cross-functional collaboration, and streamlines how FIs can partner with leading edge technologies in a matter of weeks. Access to innovative blockchain solutions including Polymesh through NayaOne will improve efficiency, reduce costs, and increase liquidity, especially with the digital assets projected market capital expected to grow to 16 Trillion USD by 2030.
Graeme Moore, Head of Tokenization at Polymesh Association – "We're thrilled to work with NayaOne based on their tremendous track record of helping the world's largest financial institutions test and go-to-market with new technology solutions. Polymesh has an exciting offering for anyone looking to experiment with tokenization and NayaOne can ensure it is seen by the right people at the right organizations."
Karan Jain, CEO, NayaOne – “It is fantastic to welcome Polymesh into our network to facilitate digital asset innovation throughout our financial services ecosystem enabling hundreds of banks to experiment with digital asset tokenization on blockchain effectively and efficiently.”
About Polymesh Polymesh is an institutional–grade permissioned blockchain built specifically for regulated assets. It streamlines antiquated processes and opens the door to new financial instruments by solving challenges around governance, identity, compliance, confidentiality, and settlement.
To learn more, visit: https://polymesh.network
About NayaOne NayaOne is a leading financial technology company focused on bringing financial institutions and the fintech ecosystem together to accelerate digital transformation and innovation in the financial services industry. NayaOne’s platform provides a single point of access to the latest fintech innovations and data , enabling financial institutions to stay ahead of the competition in a rapidly changing digital landscape.
To learn more, visit: https://nayaone.com/ Contacts
Press Contact Graeme Moore graeme@polymesh.network
Fintech Veteran Randy Little Joins 1Roundtable Partners and 10T Holdings as Partner
GREENWICH, Conn.--(BUSINESS WIRE)--1RoundTable Partners (“1RT”), a mid-to-late-stage growth equity firm that invests in private companies operating in the digital asset ecosystem, and 10T Holdings (“10T”) today announced that Randy Little has joined the firms as a Partner, effective June 1, 2023. In this role, Mr. Little will work closely with Dan Tapiero, Founder, Chief Investment Officer, and Managing Partner of both 1RT and 10T, to source investment opportunities and support portfolio companies on corporate development efforts and capital markets activities.
Mr. Little is a seasoned professional with more than 25 years of experience in roles at the intersection of finance and technology. Most recently, he served as a Managing Director at Financial Technology Partners, where he led the firm’s digital asset transactions globally.
Mr. Tapiero said, “ Randy is an established FinTech executive with an uncommon combination of investment banking and software engineering experience that has served him well in his work in the digital asset ecosystem. Throughout his career, he has worked hand-in-glove with clients to deeply understand their strategies and drive innovative outcomes. He has developed a unique understanding of these businesses, the markets in which they operate, and the risks and opportunities they face. Randy's deep sector expertise and industry relationships will be of significant value to our platforms and portfolios, and we are pleased to welcome him to 1RT and 10T.”
Mr. Little said, “ I am thrilled to be joining 1RT and 10T as blockchain technology is only beginning to disrupt legacy systems and to empower individuals in ways never before possible. With the technology industry at large beginning to exit a challenging macro environment, there will be an unparalleled opportunity to invest in leaders of the digital asset ecosystem with asymmetric risk/reward. 1RT and 10T are well positioned to capitalize on the enduring demand for new, frictionless, intermediary-free financial infrastructure, and I look forward to working with Dan and his talented team.”
Randy Little Biography
From 2018 to 2023, Mr. Little served as Managing Director at Financial Technology Partners (“FT Partners”), the largest investment bank solely focused on FinTech globally. He exclusively focused on the Capital Markets FinTech and Digital Asset sectors, advising dozens of clients including pending capital raises of $500 million to $1 billion for institutional blockchain infrastructure companies.
Mr. Little entered investment banking in 2006 at J.P. Morgan in the Financial Institutions Group focused on the Market Structure and WealthTech sectors. He was an early leader in advising the quantitative trading sector leading to several landmark transactions in the market-making space as well as executing public and private deals for exchanges, broker-dealers, trading technology, and WealthTech firms.
Before joining J.P. Morgan, Mr. Little was a Software Architect at Sun Microsystems with a focus on optimizing hardware and software for low-latency environments in the financial services sector. He also served as a Senior Consultant for Ernst & Young Consulting, where he led software development projects for large-cap financial services and U.S. government clients.
Mr. Little earned an MBA from NYU Stern in 2005, where he graduated as a Stern Scholar, and received a BS in Computer Science and Mathematics from Wake Forest University in 1997.
About 1RoundTable Partners
The next step in the evolution of 10T Holdings, the private equity firm conceived by Dan Tapiero, is the founding of 1RoundTable Partners. 1RT is a growth equity firm investing in the equity securities of mid-to-late-stage companies in the digital asset ecosystem. Leveraging its macro investing process, established underwriting capabilities, institutional leadership experience, and deep digital asset ecosystem knowledge and connectivity, 1RT seeks to provide de-risked exposure to “picks and shovels” winners in the blockchain, crypto, and Web3 industries. For more information, please visit www.1rtfund.com or contact ir@1rtfund.com .
About 10T Holdings
10T Holdings is a growth equity firm focused exclusively on investments in mid-to-late-stage private companies operating in the digital asset ecosystem. Founded in 2020 by Dan Tapiero, 10T applies its expertise from macro investing and a rigorous research-driven approach to back the blue-chip companies that will shape the future. For more information, please visit www.10tfund.com or contact ir@10tfund.com . Contacts
Media Carissa Felger/Sam Fisher Gasthalter & Co. (212) 257-4170
WisdomTree Reminds Stockholders That Its Director Nominees Each Contribute Skills and Experience That Are Essential to Our Board and Our Future Success
This Stands in Stark Contrast to ETFS Capital Nominees Bruce E. Aust, Tonia Pankopf and Graham Tuckwell, Who Are Unqualified to Serve on the WisdomTree Board Our Board Has Overseen Significant Value Creation and We Have Strong Momentum – Record AUM in April 2023, Consistently Higher Global Inflows and Industry Leading Organic Growth Replacing Even One of Our Nominees with Any of ETFS Capital’s Unqualified Candidates Would Deprive Your Board of Valuable Knowledge and Expertise and Would Disrupt Our Ability to Execute Our Strategy
NEW YORK--(BUSINESS WIRE)--WisdomTree, Inc. (NYSE: WT) (“WisdomTree” or the “Company”), a global financial innovator, today issued the following letter to its stockholders in connection with WisdomTree’s 2023 Annual Meeting of Stockholders (“2023 Annual Meeting”), which is scheduled to be held on June 16, 2023. The letter can also be found here .
Fellow WisdomTree stockholders:
We are again writing to ask you to protect your investment in WisdomTree ahead of the 2023 Annual Meeting of Stockholders (“2023 Annual Meeting”) on June 16 by voting the WHITE proxy card TODAY “FOR” ALL SIX of WisdomTree’s highly qualified director nominees and “WITHHOLD” on ETFS Capital’s nominees . WE URGE YOU NOT to sign any proxy card or voting instruction form sent to you by ETFS Capital Limited (“ETFS Capital”). In our first letter we described WisdomTree’s growth strategy and the clear record of performance that shows we are on the right path to long term value creation for all of our stockholders. In our second letter we shared our deep concerns regarding the disturbing track record of Graham Tuckwell, chairman of ETFS Capital and the sole driver behind this unnecessary and unwarranted proxy contest.
The WisdomTree Board already includes one director originally proposed by Mr. Tuckwell, Lynn S. Blake, and Ms. Blake has been renominated by WisdomTree. Despite that, Mr. Tuckwell, who has voting power of approximately 10%, wants more representation. He has nominated himself and two other individuals – Bruce E. Aust and Tonia Pankopf – for election to the WisdomTree Board, and targeted three of the Board’s nominees – Shamla Naidoo, Win Neuger and Frank Salerno. Each of our nominees, including the three “targeted” nominees and the three others – Lynn S. Blake, Daniela Mielke, and Jonathan Steinberg – contributes valuable skills and experience, the benefits of which would be lost to WisdomTree if even one of them were replaced by any of the unqualified ETFS Capital nominees.
Click here for a chart comparing our nominees to the ETFS Capital nominees. ETFS CAPITAL NOMINEES BRUCE E. AUST, TONIA PANKOPF AND GRAHAM TUCKWELL ARE UNQUALIFIED TO SERVE ON THE WISDOMTREE BOARD THEY HAVE NO SKILLS OR COMPETENCIES THAT OUR BOARD MEMBERS DO NOT ALREADY POSSESS AND THEIR TRACK RECORDS DO NOT INSPIRE CONFIDENCE
The two other individuals Mr. Tuckwell has recruited for this proxy contest and paid to serve on his slate lack the relevant experience and expertise to enhance the WisdomTree Board, and do not come close to compensating for what we would lose should they replace any of our nominees. Neither Mr. Aust nor Ms. Pankopf bring any public company C-suite experience or ETF operational experience. They also do not have any digital or technology experience, a skillset we need on our Board as we invest in growth initiatives, including digital assets, tokenization and blockchain-enabled finance. Tonia Pankopf Has a History of Stockholder Value Destruction Ms. Pankopf has a checkered business past, including multiple instances of stockholder value destruction – all three of the public companies at which she has served as a director experienced significant underperformance compared to the S&P 500 during her tenure . While serving as a director and Audit Committee Chair of Landec Corporation (now known as Lifecore Biomedical), she oversaw significant total shareholder return (TSR) underperformance of negative 173.1% versus the S&P 500 over her tenure, as well as a stock price decline of 26.4% during the last ~5 years of her tenure. 1 During her tenure as a director at Landec Corporation, that company also had to restate its financials in part due to a material weakness in its internal control over financial reporting, which was the responsibility of the Audit Committee chaired by Ms. Pankopf. In addition, one month before the company announced the restatement, Landec’s CEO was terminated, and four directors (including Ms. Pankopf) resigned or agreed not to stand for re-election. Ms. Pankopf’s business, Pareto Advisors, is a healthcare consultancy, and her public company board experience is limited to closed-end funds and a biomedical company, neither of which are comparable to running a company like WisdomTree. Finally, Ms. Pankopf appears to be a “dissident director for hire” candidate who has previously been nominated for election on another dissident’s slate for campaigns at two other companies without being elected or appointed to either board . Bruce Aust Would Not Add Value to WisdomTree or Its Board Mr. Aust is currently a Strategic Advisor at Anthemis Group, which recently announced a restructuring, terminating the employment of ~28% of its employees amid rumors of challenges to obtaining capital commitments “ due to less than top quartile returns.” 2 He has no public company C-suite experience , and his only public company board experience is as a director of Anthemis Digital Acquisitions I Corp, a SPAC that is in liquidation after failing to consummate a transaction. Mr. Aust served on the SPAC board for less than two years during which the company had no business operations or revenues. He was appointed to the board only when the company needed an independent director to fill a seat on its audit committee, given SEC and Nasdaq listing rules requiring director independence. During Mr. Aust’s long tenure at NASDAQ, he narrowly specialized in selling new IPO listings. While no doubt valuable to his prior employer, this work has no bearing on WisdomTree’s business and the experience he gained will add no value to our Board . Graham Tuckwell is Simply Unfit to Serve on Our Board Mr. Tuckwell brings no new skills to the Board. He has repeatedly insisted that the Board needs additional ETF experience, which he would supposedly provide. This is not accurate – six of our nine directors already have ETF experience, including both Win Neuger and Frank Salerno, two of the directors he seeks to unseat. But ironically, Mr. Tuckwell’s nominees cannot claim any ETF experience, which undermines whatever case he’d like to make about the need for ETF expertise on our Board. What Mr. Tuckwell would contribute to the Board is a track record of self-dealing, violations of fiduciary responsibility and conflicts of interest that pit his financial agenda against the needs of other WisdomTree stockholders. As we’ve written previously , Mr. Tuckwell’s character and conduct lead us to fear he would be toxic to WisdomTree’s Board and disrupt our ability to execute our strategy, rendering it all but impossible for the Board to do its job and act in the best interests of stockholders.
Based on his public communications, we wonder if Mr. Tuckwell is even familiar with the background of his own nominees. He has criticized the Board for – in his words – nominating “an individual with no ETF experience” and “no public board experience” (except a SPAC), ignoring that he himself has nominated two individuals with no ETF experience, one of whom has no public board experience except for a SPAC that is currently being liquidated. WE HAVE DELIBERATELY ASSEMBLED A DIVERSE BOARD WITH THE RIGHT BALANCE OF EXPERIENCE AND NEW SKILLS TO GUIDE WISDOMTREE FORWARD
We take Board composition and refreshment very seriously, recognizing that having the right mix of Board members is a continuous and active process. We seek to ensure that just as the Company grows and adapts to changing business opportunities and market conditions, so does our Board. In recent years, we have enhanced WisdomTree’s corporate governance practices and made significant strides in continuing to broaden the skillsets and expertise of our Board in line with our business objectives, appointing new, engaged and diverse directors who have the qualifications and experience we need and don’t already have.
While we always are open to evaluating candidates recommended by our stockholders, they must have the requisite skills and experience. The Board’s Nominating and Governance Committee is focused on identifying candidates with expertise that is relevant to WisdomTree’s current strategy and is not already thoroughly represented by our existing directors – this is why we believe strongly in the value of our most recently appointed director Daniela Mielke and our new nominee Shamla Naidoo. These two women have immense experience across fintech and digital payments, cybersecurity and technology innovation and transformation at top-tier global companies. They add this vital knowledge and experience to our Board and bring insights pertaining to integral elements of our strategy today.
We don’t have room on our Board for directors who will not make immediate and substantive contributions. We simply do not need Mr. Tuckwell or his candidates, who do not measure up against the caliber of directors we have recently appointed and nominated. Since 2021, we have appointed five new, diverse directors who now make up a majority of the Board and have nominated another new candidate with a diverse background. These newer directors benefit from the institutional knowledge of longer-tenured directors like Frank Salerno and Win Neuger, providing WisdomTree with the ideal mix of experienced insights and fresh perspectives.
THE RIGHT BOARD FOR WISDOMTREE 3 FIVE of our nine directors were appointed since 2021 100% of the directors appointed since 2021 are diverse 44% of our directors are women 33% of our directors are racially diverse SIX of our directors have extensive ETF experience THREE of our nominees have valuable institutional knowledge TWO of our nominees have significant digital and tech experience ONE of our nominees was originally proposed by ETFS Capital REPLACING EVEN ONE OF OUR NOMINEES WITH ANY OF ETFS CAPITAL’S UNQUALIFIED CANDIDATES WOULD DEPRIVE YOUR BOARD OF VALUABLE KNOWLEDGE AND EXPERTISE AND WOULD DISRUPT OUR ABILITY TO EXECUTE OUR STRATEGY
ETFS Capital has chosen to target two sitting directors who have been essential in building WisdomTree and one new nominee who will be essential in helping us continue to build the Company’s future. If even one of our nominees is replaced, WisdomTree will lose valuable skills and integral knowledge and their potential replacements will bring absolutely nothing that the Board doesn’t already have. Below we have detailed their numerous professional accomplishments that are relevant to WisdomTree, and the contributions each brings to the Company. Click here for our full nominee biographies and headshots.
SHAMLA NAIDOO – new independent director nominee and technology, data and innovation leader who will bring to WisdomTree deep expertise in digital transformation Experience in digital transformation with expertise in cybersecurity, intellectual property, information technology and data Strong track record of helping organizations in more than 20 countries recognize the impact of digital transformation globally and advise their stakeholders on predicting and navigating the necessary changes in laws and regulations Extensive C-suite experience leading digital strategies for several public companies, such as IBM, Elevance Health (WellPoint), Marriott (Starwood) and Northern Trust While at IBM, created and influenced the security culture of 500,000 employees and partners, supervised 80,000 engineers and managed the risk of cybersecurity threats while supporting innovation and business growth Licensed attorney who teaches courses on law, technology and privacy at the University of Illinois Chicago School of Law Member of the Security 50, a community of World 50, NACD (National Association of Corporate Directors) and WCD (Women’s Corporate Directors)
WIN NEUGER – asset management leader and ETF expert who contributes to the Board a stockholder perspective with investment expertise Sits on the Compensation Committee and chairs the Nominating and Governance Committee of the Board Decades of experience in senior management positions in the asset management industry, including growing AIG’s global investment portfolio into a company with $753bn in assets Provides deep understanding of WisdomTree’s business model, executive leadership experience and expertise in ETFs, accounting and financial reporting and corporate governance As chair of the Nominating and Governance Committee, oversaw significant Board refreshment, including the five new diverse directors appointed since 2021
FRANK SALERNO – independent Chair of the Board who possesses extensive traditional indexing experience and ETF expertise, and knowledge of WisdomTree’s business model and strategy Chairs the Compensation Committee of the Board Extensive senior management experience at large asset managers, including Merrill Lynch and Bankers Trust – previously Managing Director and Chief Operating Officer of Merrill Lynch Investment Advisors Americas Institutional Division Provides strategic insight into the asset management industry and competitive landscape, and brings extensive ETF and traditional indexing experience Demonstrated corporate governance experience, having overseen significant governance enhancements at WisdomTree, as well as key business and management strategy events Brings in-depth knowledge of WisdomTree to the Board and played instrumental role in building WisdomTree’s strong culture and supporting the Company’s successful growth ALL SIX OF OUR NOMINEES HAVE DECADES OF RELEVANT EXPERIENCE VITAL TO OUR BOARD AND TO WISDOMTREE’S FUTURE SUCCESS
In addition to the three director nominees targeted by ETFS Capital, three other directors are seeking your vote for re-election. Each contributes relevant expertise and plays an important part within a collaborative, hardworking and highly effective Board.
LYNN S. BLAKE – recently added independent director with indexing and ESG acumen and decades of experience in the ETF and asset management industries Director since May 2022, after being proposed by ETFS Capital; sits on the Compensation Committee and was part of the Operations and Strategy Committee of the Board in 2022 Extensive leadership in the asset management industry and provides expertise in investment management, including experience with ESG investment strategies Grew State Street’s Global Equity Beta Solutions (GEBS) business and managed more than 1,400 portfolios and ETFs with assets over $2.3 trillion while CIO of GEBS
DANIELA MIELKE – recently added independent director with financial and strategic transaction expertise and decades of experience growing financial services, payments and fintech companies Director since September 2022 Extensive financial and transaction experience as an executive, founder, public company board member and advisor Provides decades of expertise in driving growth strategies at global companies, including McKinsey, PayPal and Visa Led PayPal’s growth and strategy during a time of major digital disruption in the payments industry, in addition to playing a key role in Visa International’s IPO, the largest IPO in U.S. history at the time
JONATHAN STEINBERG – financial innovator and visionary ETF expert who founded WisdomTree in 1988 Provides extensive knowledge of our business, stemming from founding and developing WisdomTree’s proprietary index methodology Strategic visionary providing essential insight and guidance to the Board from a management perspective Forward-looking, innovative leader who has been crucial to WisdomTree’s growth and success WISDOMTREE’S BOARD IS ACCOUNTABLE TO STOCKHOLDERS WITH A PROVEN RECORD OF ACTING IN THEIR BEST INTERESTS
Since 2019, WisdomTree has: Begun declassifying the Board, so that all directors will be elected annually beginning in 2024 Formed an Operations and Strategy Committee of the Board; its recommendations led to the Board unanimously concluding that it fully supports WisdomTree’s management team, current strategy and plan for stockholder value creation Appointed and subsequently re-nominated a director proposed by ETFS Capital Improved stockholder rights by adopting proxy access and eliminating the cause requirement to remove directors Appointed a new independent Chair Named a new CFO and President / COO Grown AUM from $54.1 billion to over $90.5 billion, a ~67% increase
WisdomTree’s management team is executing on our strategy and has overseen significant value creation. WisdomTree AUM grew to more than $90 billion in 2023 and has grown 36% from the beginning of 2021. In April 2023, we achieved all-time high AUM, and the first quarter of the year was the third best quarter of net inflows in Company history. Our stock is up 27% YTD as of May 23, 2023, and we believe there is significant value to be unlocked as our business continues to grow and scale. We recently announced the resolution of the Contractual Gold Payments obligation, which adds $18 million to operating income, expands WisdomTree’s operating margin by 530 basis points, yields net income of more than $13 million and is approximately 15% accretive to current 2023 consensus EPS estimates. The recent initiation of additional analyst coverage, with a “Buy” recommendation and a $9.00 price target, in addition to the April analyst upgrade in our stock, demonstrate that the investment community recognizes the value we have created and the opportunity ahead. PROTECT YOUR INVESTMENT IN WISDOMTREE. REJECT GRAHAM TUCKWELL AND VOTE THE WHITE PROXY CARD TODAY “FOR” ALL SIX OF WISDOMTREE’S HIGHLY QUALIFIED CANDIDATES
The Board plays a key, active role in maintaining this positive growth trajectory . Each and every director similarly plays a critical role in the boardroom. Allowing Mr. Tuckwell to replace directors will disrupt the Board’s ability to engage in thoughtful discourse and continue making decisions in the best interests of all stockholders. Your vote for WisdomTree’s nominees will ensure that the Board retains knowledge and expertise that is integral to our strategy and continues to act in the best interests of all stockholders, best positioning the Company for success. For more information, please review our comprehensive presentation for stockholders in connection with the 2023 Annual Meeting here.
Sincerely,
Lynn S. Blake, Anthony Bossone, Smita Conjeevaram, Daniela Mielke, Win Neuger, Frank Salerno, Harold Singleton III, Jonathan Steinberg
About WisdomTree
WisdomTree is a global financial innovator, offering a well-diversified suite of exchange-traded products (ETPs), models and solutions. We empower investors to shape their future and support financial professionals to better serve their clients and grow their businesses. WisdomTree is leveraging the latest financial infrastructure to create products that provide access, transparency and an enhanced user experience. Building on our heritage of innovation, we are also developing next-generation digital products and structures, including digital funds and tokenized assets, as well as our blockchain-native digital wallet, WisdomTree Prime™.
WisdomTree currently has approximately $90.5 billion in assets under management globally.
WisdomTree ® is the marketing name for WisdomTree, Inc. and its subsidiaries worldwide.
Cautionary Statement Regarding Forward-Looking Statements
Any statements contained in this letter that do not describe historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are identified by use of the words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “should,” “views,” and similar expressions. Any forward-looking statements contained herein are based on current expectations, but are subject to risks and uncertainties that could cause actual results to differ materially from those indicated, including, but not limited to, the impact and contributions of the slate of director nominees WisdomTree has nominated, the effectiveness of WisdomTree’s board refreshment process in identifying candidates with the set of skills to oversee WisdomTree’s strategy, the ability of the candidates proposed by Mr. Tuckwell to enhance WisdomTree’s board or enhance its strategy, and WisdomTree’s ability to achieve its financial and business plans, goals and objectives and drive stockholder value, including with respect to its ability to successfully implement its strategy relating to WisdomTree Prime™, and other risk factors discussed from time to time in WisdomTree’s filings with the SEC, including those factors discussed under the caption “Risk Factors” in its most recent annual report on Form 10-K, filed with the SEC on February 28, 2023, and in subsequent reports filed with or furnished to the SEC. WisdomTree assumes no obligation and does not intend to update these forward-looking statements, except as required by law, to reflect events or circumstances occurring after today’s date.
Important Additional Information and Where to Find It
WisdomTree filed a proxy statement on Schedule 14A, an accompanying WHITE proxy card and other relevant documents with the SEC in connection with such solicitation of proxies from WisdomTree stockholders for WisdomTree’s 2023 Annual Meeting. WISDOMTREE STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ WISDOMTREE’S DEFINITIVE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO), ACCOMPANYING WHITE PROXY CARD, AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors and stockholders may obtain a copy of the definitive proxy statement, an accompanying WHITE proxy card, any amendments or supplements to the definitive proxy statement and other documents that WisdomTree files with the SEC at no charge at the SEC’s website at www.sec.gov . Copies will also be available at no charge on WisdomTree’s Investor Relations website at https://ir.wisdomtree.com/sec-filings or by contacting Jeremy Campbell, Head of Investor Relations, at jeremy.campbell@wisdomtree.com , as soon as reasonably practicable after such materials are electronically filed with, or furnished to, the SEC.
Investors and stockholders can find out more about the proxy vote at the 2023 Annual Meeting by visiting the WisdomTree investor relations website and navigating to the page entitled “2023 Annual Meeting”: https://ir.wisdomtree.com/2023-annual-meeting-proxy-vote .
Disclaimer
WisdomTree has neither sought nor obtained the consent from any third party to use any statements or information contained in this letter that have been obtained or derived from statements made or published by such third parties. Any such statements or information should not be viewed as indicating the support of such third parties for the views expressed herein.
Category: Business Update
1 TSR per FactSet calculated between November 13, 2012 to November 1, 2022 (i.e. total Board tenure) and November 1, 2017 to November 1, 2022, respectively (i. Contacts
Investor Relations WisdomTree, Inc. Jeremy Campbell +1.646.522.2602 Jeremy.campbell@wisdomtree.com
or
Innisfree M&A Incorporated Jonathan Salzberger / Scott Winter +1.212.750.5833 jsalzberger@innisfreema.com / swinter@innisfreema.com
Media Relations WisdomTree, Inc. Jessica Zaloom +1.917.267.3735 jzaloom@wisdomtree.com / wisdomtree@fullyvested.com
or
H/Advisors Abernathy Jeremy Jacobs / Dana Gorman +1.202.774.5600 / +1.212.371.5999 jeremy.jacobs@h-advisors.global / dana.gorman@h-advisors.global Read full story here
Celsius Announces Fahrenheit, LLC as Winning Bidder to Manage New Entity to Be Owned by Celsius Creditors
Winning bid positions Celsius’ assets to be transferred to “NewCo” under new executive leadership. Auction results in the distribution of hundreds of millions of dollars of more liquid cryptocurrency to customers and hundreds of millions of dollars in reductions to the proposed management fees compared to “stalking horse bid.”
HOBOKEN, N.J.--(BUSINESS WIRE)--Celsius Network LLC (“ Celsius ” or the “ Company ”) today announced that, following the completion of the Court‑approved auction process, Celsius, in consultation with its official committee of unsecured creditors (the “ Committee ”), has selected a proposal from Fahrenheit, LLC (“ Fahrenheit ”), as the winning bid. Fahrenheit—a group consisting of US Bitcoin Corp., Arrington Capital, Proof Group, Steven Kokinos and Ravi Kaza—will provide the capital, management team, and technology required to successfully establish and operate the new company (“ NewCo ”) contemplated in the bid, which will be implemented pursuant to a chapter 11 plan (the “ Plan ”).
The key provisions of the Plan include a meaningful distribution of Celsius’ liquid cryptocurrency to account holders on the Plan’s effective date (or as soon as reasonably practicable thereafter), settlements with the Custody and Withhold groups, and the creation of a new public, regulatorily compliant, reporting company (“ NewCo ”), that will manage Celsius’ illiquid assets, including Celsius’ institutional loan portfolio, mining business, and alternative investments for the benefit of account holders. Under the Plan, Celsius’ account holders will own 100% of the new equity in NewCo (subject to dilution by the equity to be distributed to Fahrenheit as management fees). NewCo will be overseen by a new Board of Directors, a majority of which will be appointed by creditors.
The Plan will distribute hundreds of millions of dollars of additional liquid cryptocurrency compared to the prior “stalking horse” bid that set the floor for the auction, and the management fees to be paid to Fahrenheit were also reduced by hundreds of millions of dollars compared to the stalking horse bid. The winning bid also provides attractive offers for Celsius to immediately energize its mining rigs that are currently inactive and for NewCo to build its mining business over time.
“ We are very pleased that our competitive auction process produced a positive result for customers, including, most prominently, hundreds of millions of dollars in lower management fee savings and increased liquid cryptocurrency distributions to Celsius’ customers. We appreciate the robust interest that the Celsius platform has received from competing bidders and look forward to working with Fahrenheit to expedite the restructuring and distribute recoveries to creditors,” said David Barse and Alan Carr, members of the Special Committee of the Board.
“ The dynamic engagement in our auction provided us with excellent options for our exit from chapter 11. We are grateful for the collaboration of the Committee, and with our path now set, we are looking forward to enabling our customers to move forward from this process.”
Additionally, the Company confirmed that it has secured a backup bid with the Blockchain Recovery Investment Consortium, which, if required for any reason, would provide for the creation of a pure play, publicly traded mining business in which Celsius creditors will receive 100% of the equity interests with a potential management contract with GlobalXDigital and orderly winddown of Celsius’ remaining assets.
In the coming weeks, Celsius intends to negotiate and publicly file a plan sponsor agreement with Fahrenheit, a backup plan sponsor agreement with the BRIC, a revised chapter 11 plan, and a disclosure statement, all of which remain subject to bankruptcy court approval.
The terms of the winning bid by Fahrenheit and the backup bid with the BRIC can be found at https://cases.stretto.com/public/x191/11749/PLEADINGS/1174905252380000000034.pdf
Advisors
Kirkland & Ellis LLP is serving as legal counsel, Centerview Partners is serving as financial advisor, C Street Advisory Group is serving as communications advisor, and Alvarez & Marsal is serving as restructuring advisor to Celsius.
White & Case LLP is serving as legal counsel, Perella Weinberg Partners is serving as investment banker, and M3 Partners is serving as financial advisor to the Committee.
Brown Rudnick LLP is serving as legal counsel to Fahrenheit, LLC.
Willkie Farr & Gallagher LLP is serving as legal counsel to the BRIC.
Additional Information about the Restructuring Process
Additional information about the chapter 11 filing, including Court documents, can be found at https://cases.stretto.com/celsius . Stakeholders with questions may call the Company’s Claims Agent, Stretto, at +1 (855) 423-1530 (U.S.) or +1 (949) 669-5873 (international) or email celsiusinquiries@stretto.com . Contacts
C Street Advisory Group celsius@thecstreet.com
“The Illusion of Bitcoin,” from the CSL Consulting
Cut to the Chase Finance series, demystifies the faux currency.
BOCA RATON, Fla.--(BUSINESS WIRE)--In "The Illusion of Bitcoin," CSL Consulting President Christopher Laursen and Director Alison Fitzgerald shed light on the true nature of Bitcoin and tackle critical challenges facing the world’s oldest and most well-known “cryptocurrency.”
“ We wanted to boil down what Bitcoin actually is and how it works into understandable terms ,” says Fitzgerald, who conducted extensive research and analysis for the paper, “ and to explain that most Bitcoin transactions are not as decentralized as we are led to believe. ”
Laursen, a former Federal Reserve and OCC Examiner , stated “It’s important for people to understand that the Blockchain system does not prevent the market value of Bitcoin from being manipulated.” Stripping away the mystique, the paper explains that Bitcoin is fundamentally no more than a computer protocol—a " chain of digital signatures” —and discusses the challenges and limitations facing Bitcoin in the future.
"The Illusion of Bitcoin" addresses conventional perceptions of Bitcoin as a currency and explores the complexities surrounding its classification and regulatory frameworks. This enlightening analysis offers valuable insights for academics, policymakers, and individuals interested in the truth about Bitcoin.
About CSL Consulting:
CSL Consulting is an expert witness and advisory services firm focused on the financial sector. Our experts draw on decades of real-world experience in areas including financial regulation, risk management, trading, credit underwriting, accounting, compliance, audit, and governance.
CSL’s Cut to the Chase Finance series provides key information and explanations on current complex financial issues, in a digestible form.
For further information on our services or to access the full paper, including our first publication “Bank Interest Rate Risk and Mr. Powell’s Wild Ride,” please visit our website or contact us at info@cslconsult.com .
About the Authors:
Christopher Laursen is the President of CSL Consulting, where he provides expert witness, advisory and training services. Mr. Laursen formerly served as the Manager of Risk Policy and Guidance, and the Head of Trading and Capital Markets Risk in the Supervision Division of the Federal Reserve Board. He also served as an examiner with three Federal Reserve Banks and the OCC.
Alison Fitzgerald provides litigation and advisory consulting support in matters involving securities and financial markets, risk management, and regulation. Contacts
Christopher Laursen President Chris.Laursen@cslconsult.com Office: (305) 306-6928
Alison Fitzgerald Director Alison.Fitzgerald@cslconsult.com Office: (305) 306-6846
AtlasClear, Inc. to Participate in Upcoming Investor Conferences
TAMPA, Fla.--(BUSINESS WIRE)--AtlasClear, Inc. (“AtlasClear”), and Quantum FinTech Acquisition Corporation (“Quantum”) (NYSE: QFTA), a publicly traded special purpose acquisition company, today announced that AtlasClear will participate in the following investor conferences: On Wednesday, June 7, 2023, management will participate in investor meetings at the Piper Global Exchange & Fintech Conference in New York, NY. On Wednesday, June 14, 2023, management will participate in investor meetings at the Morgan Stanley US Financials, Payments & CRE Conference in New York, NY.
If you are interested in meeting with management at either event, please reach out to Piper Sandler or Morgan Stanley.
In November 2022, Quantum entered into a definitive business combination agreement that is expected to result in Atlas FinTech Holdings Corp. transferring its trading technology assets to AtlasClear and the acquisition by AtlasClear of Wilson Davis & Co., Inc., a correspondent clearing broker-dealer (“Wilson-Davis”), pending required regulatory approvals. AtlasClear has also entered into a definitive agreement to acquire Commercial Bancorp of Wyoming, a federal reserve member (“Commercial Bancorp”), following consummation of the initial business combination, which is expected to close in the second or third quarter of 2023, pending required regulatory approvals.
About AtlasClear
AtlasClear plans to build a cutting-edge technology enabled financial services firm that would create a more efficient platform for trading, clearing, settlement and banking of evolving and innovative financial products with a focus on the small and middle market financial services firms. The team that will lead AtlasClear consists of respected financial services industry veterans that have founded and led other companies in the industry including Penson Clearing, Southwest Securities, NexTrade and Anderen Bank.
The nature of the combined entity is expected to be supported by robust, proven, financial technologies with a full suite that will enable the flow of business and success of the enterprise. The combined entity is expected to have a full exchange platform for a spectrum of financial products. In addition, the combined entity is expected to have a full prime brokerage and, following the Commercial Bancorp acquisition, a prime banking platform with complete front-end delivery. The enterprise is anticipated to offer a fixed income risk management platform which can be expanded to a diverse application on financial products.
The combined entity is expected to be run by a new digital suite of technologies that will be part of the transaction at closing.
About Quantum FinTech Acquisition Corporation
Quantum FinTech Acquisition Corporation is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, that was formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses, with a principal focus on identifying high-growth financial services and fintech businesses as targets.
About Wilson-Davis & Co., Inc.
Wilson-Davis is a full-service correspondent securities broker-dealer. The company is registered with the SEC, the Financial Industry Regulatory Authority and the Securities Investor Protection Organization. In addition, Wilson-Davis is a member of DTCC as well as the National Securities Clearing Corporation. Headquartered in Salt Lake City, Utah and Dallas, Texas. Wilson-Davis has been servicing the investment community since 1968, with satellite offices in California, Arizona, Colorado, New York, New Jersey and Florida.
About Commercial Bancorp of Wyoming
Commercial Bancorp is a bank holding company operating through its wholly-owned subsidiary, Farmers State Bank (“FSB”) and has been servicing the local community in Pine Bluffs, WY since 1915. It has focused the majority of its services on private and corporate banking. A member of the Federal Reserve, FSB is expected to be a strategic asset for the combined company’s long-term business model.
Additional Information and Where to Find It
In connection with the proposed business combination and related transactions contemplated in connection therewith (the “Proposed Transaction”), Calculator New Pubco, Inc. (“New Pubco”) (to be renamed AtlasClear Holdings, Inc.) has publicly filed with the U.S. Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4 containing a preliminary proxy statement of Quantum and prospectus of New Pubco, and after the registration statement is declared effective, Quantum will mail a definitive proxy statement/prospectus relating to the Proposed Transaction to its stockholders. This website does not contain any information that should be considered by Quantum’s stockholders concerning the Proposed Transaction and is not intended to constitute the basis of any voting or investment decision in respect of the Proposed Transaction or the securities of New Pubco. Quantum’s stockholders and other interested persons are advised to read the preliminary proxy statement/prospectus and the amendments thereto and, when available, the definitive proxy statement/prospectus and other documents filed in connection with the Proposed Transaction, as these materials will contain important information about New Pubco, Quantum, AtlasClear, , Wilson-Davis & Co., Inc. (“WDCO”), Commercial Bancorp of Wyoming (“Commercial Bancorp”) and its subsidiary bank, Farmers State Bank (“FSB”), and the Proposed Transaction. When available, the definitive proxy statement/prospectus will be mailed to stockholders of Quantum as of a record date to be established for voting on the Proposed Transaction. Stockholders will also be able to obtain copies of the preliminary proxy statement/prospectus, the definitive proxy statement/ prospectus and other documents filed with the SEC, without charge, once available, at the SEC’s website at www.sec.gov , or by directing a request to: Quantum FinTech Acquisition Corporation, 4221 W Boy Scout Blvd., Suite 300, Tampa, FL 33607, Attention: Investor Relations or by email at atlasclearir@icrinc.com .
No Offer or Solicitation
This press release shall not constitute a “solicitation” as defined in Section 14 of the Securities Exchange Act of 1934, as amended. This press release does not constitute an offer, or a solicitation of an offer, to buy or sell any securities, investment or other specific product, or a solicitation of any vote or approval, nor shall there be any offer, solicitation or sale of securities, investment or other specific product in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
Participants in Solicitation
Quantum, AtlasClear and their respective directors and executive officers may be deemed participants in the solicitation of proxies from Quantum stockholders with respect to the Proposed Transaction. Quantum stockholders and other interested persons may obtain, without charge, more detailed information regarding the directors and officers of Quantum in its Annual Report on Form 10-K, filed with the SEC on March 31, 2023 (the “2022 Form 10-K”), which is available free of charge at the SEC’s website at www.sec.gov . Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to QTFA stockholders in connection with the Proposed Transaction and other matters to be voted upon at Quantum’s special meeting of stockholders will be set forth in the proxy statement/prospectus for the Proposed Transaction when available. Additional information regarding the interests of the participants in the solicitation of proxies from Quantum’s stockholders with respect to the Proposed Transaction will be contained in the proxy statement/prospectus for the Proposed Transaction when available.
Cautionary Statement Regarding Forward-Looking Statements
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that reflect AtlasClear’s and Quantum’s current views with respect to, among other things, the future operations and financial performance of AtlasClear, Quantum and the combined company. Forward-looking statements in this website may be identified by the use of words such as “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “foreseeable,” “future,” “intend,” “may,” “outlook,” “plan,” “potential,” “proposed” “predict,” “project,” “seek,” “should,” “target,” “trends,” “will,” “would” and similar terms and phrases. Forward-looking statements contained in this website include, but are not limited to, statements as to (i) expectations regarding the Proposed Transaction, including timing for its consummation, (ii) anticipated use of proceeds from the transaction, (iii) AtlasClear’s and Quantum’s expectations as to various operational results and market conditions, (iv) AtlasClear’s anticipated growth strategy, including the proposed acquisitions, (v) anticipated benefits of the Proposed Transaction and proposed acquisitions, (vi) the financial technology of the combined entity, and (vii) expected listing of the combined company.
The forward-looking statements contained in this communication are based on the current expectations of AtlasClear, Quantum and their respective management and are subject to risks and uncertainties. No assurance can be given that future developments affecting AtlasClear, Quantum or the combined company will be those that are anticipated. Actual results may differ materially from current expectations due to changes in global, regional or local economic, business, competitive, market, regulatory and other factors, many of which are beyond the control of AtlasClear and Quantum. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Factors that could cause actual results to differ may emerge from time to time, and it is not possible to predict all of them.
Such factors include, but are not limited to: the risk that the transaction may not be completed in a timely manner or at all; the risk that the transaction closes but AtlasClear’s acquisition of Commercial Bancorp and its subsidiary bank, FSB, does not close as a result of the failure to satisfy the conditions to closing such acquisition (including, without limitation, the receipt of approval of Commercial Bancorp’s stockholders and receipt of required regulatory approvals); the failure to obtain requisite approval for the transaction or meet other closing conditions; the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreement in respect of the transaction; failure to achieve sufficient cash available (taking into account all available financing sources) following any redemptions of Quantum’s public stockholders; failure to obtain the requisite approval of Quantum’s stockholders; failure to meet relevant listing standards in connection with the consummation of the transaction; failure to recognize the anticipated benefits of the transaction, which may be affected by, among other things, competition, the ability of the combined entity to maintain relationships with customers and suppliers and strategic alliance third parties, and to retain its management and key employees; potential litigation relating to the proposed transaction; changes to the proposed structure of the transaction that may be required or appropriate as a result of the announcement and execution of the transaction; unexpected costs and expenses related to the transaction; estimates of AtlasClear and the combined company’s financial performance being materially incorrect predictions; AtlasClear’s failure to complete the proposed acquisitions on favorable terms to AtlasClear or at all; AtlasClear’s inability to integrate, and to realize the benefits of, the proposed acquisitions; changes in general economic or political conditions; changes in the markets that AtlasClear targets or the combined company will target; slowdowns in securities or cryptocurrency trading or shifting demand for trading, clearing and settling financial products; the impact of the ongoing COVID-19 pandemic; any change in laws applicable to Quantum or AtlasClear or any regulatory or judicial interpretation thereof; and other factors, risks and uncertainties, including those to be included under the heading “Risk Factors” in the proxy statement/prospectus filed or to be later filed with the SEC, and those included under the heading “Risk Factors” in Quantum’s 2022 Form 10-K and its subsequent filings with the SEC. AtlasClear and Quantum caution that the foregoing list of factors is not exhaustive. Any forward-looking statement made in this website speaks only as of the date hereof. Plans, intentions or expectations disclosed in forward-looking statements may not be achieved and no one should place undue reliance on such forward-looking statements. Neither AtlasClear nor Quantum undertake any obligation to update, revise or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. Contacts
Media AtlasClearPR@icrinc.com Investors atlasclearir@icrinc.com
FINRA Foundation-CFA Institute Research Focuses on Gen Z Investors
Report Examines Attitudes, Behaviors of Investors Ages 18 to 25
WASHINGTON--(BUSINESS WIRE)--FINRA Investor Education Foundation (FINRA Foundation) and CFA Institute have released a new report, Gen Z and Investing: Social Media, Crypto, FOMO, and Family .
The report examines attitudes and behaviors around investing among two Gen Z segments (ages 18 to 25) in the United States—those with and those without any investment accounts—and compares them with their investing millennial and Gen X counterparts. The report also profiles Gen Z investors in Canada, the United Kingdom and China and compares them with their counterparts in the United States.
“The Gen Z population is diverse and digitally savvy. They are using mobile technology to enter the financial markets in unprecedented numbers and consulting a wide range of information sources as they do so,” said FINRA Foundation President Gerri Walsh . “It is vital to understand their investing decisions and to provide them with the educational tools to prepare for those decisions.”
“These new entrants to the world of investing are reshaping investment practices, products, and platforms. Our study has underlined the extent to which their investment habits differ significantly from their predecessor investor cohorts. A range of macroeconomic and social factors such as rising inflation, the growing popularity and accessibility of cryptocurrency, and social media ‘finfluencers’ are having a profound impact on how, where and what they invest in,” said Paul Andrews, Managing Director for Research, Advocacy and Standards at CFA Institute.
Key findings include: Despite their young age, a surprisingly large percentage of Gen Zs in the United States invest, with cryptocurrency as their top choice: Close to six in 10 (56 percent) report owning at least some investments. They primarily invest in cryptocurrency (55 percent) and individual stocks (41 percent). They are less likely than their older counterparts to use mutual funds and are more likely, along with millennials, to invest in crypto and non-fungible tokens compared with Gen Xers. Gen Z investors in the United States use a variety of resources to learn about investing: They learn about investing and finances primarily through social media (48 percent), internet searches (47 percent) and parents/family (45 percent). Their top online resource is YouTube (60 percent) followed by internet searches, Instagram, TikTok, Twitter, Reddit and Facebook. Gen Z investors in the United States are risk-takers: Almost half (46 percent) are willing to take substantial or above-average financial risks. Half (50 percent) say they have made an investment driven by their fear of missing out (FOMO). Barriers to investing: Gen Zs in the United States who are not yet investing cite lack of savings (65 percent), not having enough income/living paycheck-to-paycheck (64 percent) and lack of knowledge about investing (56 percent) as the primary reasons why. Like their counterparts in the United States, Gen Zs around the world are investing in large numbers: Among the countries covered by the study, Canada has the highest percentage of Gen Z investors, with nearly three-quarters (74 percent) saying they own at least one investment, compared to 56 percent in the United States, 49 percent in the United Kingdom and 57 percent in China.
Recent FINRA Foundation reports that may be of interest include: New Investors 2022: Entering the Market in Novel and Traditional Ways Where Are They Now? Following Up With the New Investors of 2020 Investors in the United States: The Changing Landscape
About the FINRA Investor Education Foundation
The FINRA Investor Education Foundation supports innovative research and educational projects that give underserved Americans the knowledge, skills and tools to make sound financial decisions throughout their lives. For more information about FINRA Foundation initiatives, visit https://www.finrafoundation.org .
About FINRA
FINRA is a not-for-profit organization dedicated to investor protection and market integrity. It regulates one critical part of the securities industry—brokerage firms doing business with the public in the United States. FINRA, overseen by the U.S. Securities and Exchange Commission, writes rules, examines for and enforces compliance with FINRA rules and federal securities laws, registers broker-dealer personnel and offers them education and training, and informs the investing public. In addition, FINRA provides surveillance and other regulatory services for equities and options markets, as well as trade reporting and other industry utilities. FINRA also administers a dispute resolution forum for investors and brokerage firms and their registered employees. For more information, visit www.finra.org .
About CFA Institute
CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion of ethical behavior in investment markets and a respected source of knowledge in the global financial community. Our aim is to create an environment where investors’ interests come first, markets function at their best, and economies grow. There are more than 190,000 CFA charterholders worldwide in 160 markets. CFA Institute has nine offices worldwide and 160 local societies. For more information, visit www.cfainstitute.org or follow us on Linkedin and Twitter at @CFAInstitute. Contacts
FINRA Contact: media@finra.org
Hunting Hill Digital Launches with Investment from BaseLayer Ventures
Hunting Hill Digital (“HHD”) launches as the digital asset management affiliate of Hunting Hill Global Capital, a leading SEC-registered investment advisor and alternative asset manager with exceptional expertise leveraging global arbitrage and dislocation opportunities across asset classes, including cryptocurrencies and digital assets. BaseLayer Ventures, an early-stage venture capital investor, is investing with HHD to explore emerging opportunities in digital asset management.
NEW YORK--(BUSINESS WIRE)--Hunting Hill Digital (“HHD”), an innovative alternative asset manager exclusively focused on digital asset management services and strategies, has launched with an investment from BaseLayer Ventures, an early-stage venture capital firm helping entrepreneurs build businesses essential to the commercialization potential of digital assets and services. As an affiliate of Hunting Hill Global Capital ("HHGC"), HHD brings distinctive infrastructure and operational experience to the digital asset ecosystem.
HHD seeks to capitalize on the growing demand for investment managers that combine extensive experience managing complex trades and portfolios, disciplined risk management practices, and proprietary operational capabilities with a “crypto-native” understanding of the digital asset universe. HHD’s growth strategy includes exploration of opportunities in tokenization and NFT asset management, which align with BaseLayer Ventures’ investment mandate. The partnership with BaseLayer Ventures also provides HHD access to a vast network of industry experts and advisors, as well as operational support, strategic guidance, and access to capital markets.
“Our team has been investing in digital assets since 2016, when we first identified the pricing dislocation opportunities in the crypto ecosystem,” said Adam Guren, Co-Founder of HHD. “As the market matures and demand from institutions increases, we are excited to expand our offerings to support an increasingly sophisticated investor community and explore opportunities beyond conventional investment management offerings. Our partnership with BaseLayer provides invaluable strategic guidance and support, allowing us to more effectively leverage our skills and capabilities to capitalize on emerging trends and product innovations.”
“The team at Hunting Hill has the requisite experience in portfolio management, trade execution, operations, and risk management across both traditional finance and crypto markets to take advantage of the rapidly evolving opportunities across the digital asset universe,” said John Paul Milciunas, Founder and Managing Director at BaseLayer Ventures. “We are excited to partner with the firm as it grows this business.”
Sonny Dozier joins Guren as Co-Founder of HHD. In addition to his role with HHD, Guren remains Chief Investment Officer at HHGC.
About Hunting Hill Digital
Hunting Hill Digital is an innovative alternative asset manager exclusively focused on digital asset investment strategies. As an affiliate of Hunting Hill Global Capital, a leading alternative asset manager with an exceptional expertise in leveraging global arbitrage and dislocation opportunities, HHD offers distinctive execution and operations experience. HHD provides investors access to digital assets and cryptocurrencies through a customizable and scalable multi-strat platform. Our skilled investment professionals have been unlocking niche opportunities and collaborating with leading institutional counterparties in cryptocurrencies since 2016 – one of the longest tenures in the market.
www.Huntinghill.com/digital
About Hunting Hill Global Capital
Hunting Hill Global Capital is a leading SEC-registered alternative asset management firm that specializes in identifying global arbitrage opportunities in complex and emerging asset classes. Its experienced multi-disciplinary team combines deep market knowledge with an extensive counterparty network to uncover hidden value across markets through multi-strategy arbitrage and market neutral strategies. The firm’s agility, innovation, and discipline drive its investment decision making and risk management processes, delivering uncorrelated and scalable returns.
www.Huntinghill.com Contacts
For Investors :
Amy Suto Hunting Hill Digital digitalir@huntinghill.com
For Media :
Thomas Conroy Peregrine Communications huntinghill@peregrinecommunications.com
1Kosmos and AWS to Present Session on Bringing Verified Identity and Passwordless to the Masses at Identiverse 2023
1Kosmos Chief Strategy Officer and Former Head of Infosec for Lehman Brothers Mike Engle will also present a solo session on passwordless deployment pitfalls to avoid
EAST BRUNSWICK, N.J.--(BUSINESS WIRE)-- #Blockchain -- 1Kosmos , the only company that unifies identity proofing and passwordless authentication, today announced that its Chief Strategy Officer Mike Engle will present a session on bringing verified identity and passwordless to the masses with Kevin Shanley, Principal Identity Specialist for Amazon Web Services at Identiverse 2023 on June 1 in Las Vegas. Mike will also present a solo session on May 31 on five pitfalls to avoid to fast track passwordless MFA. WHO: Mike Engle, Chief Strategy Officer for 1Kosmos, previously served as head of InfoSec for Lehman Brothers where he was instrumental in designing and implementing the bank’s security program. As a co-founder of Bastille Networks, he helped raise over $40m in venture capital to create a powerhouse in the RF security sector. Kevin Shanley, Principal Identity Specialist for Amazon Web Services has more than 25 years of experience in Identity and Access Management. He has worked in over 30 countries; selling, designing, and deploying IAM systems for multinational companies and government agencies. Kevin currently leads GTM for AWS consumer identity (Amazon Cognito and Amazon Verified Permissions). WHAT: Fast Track Passwordless MFA by Avoiding Five Common Pitfalls It’s no secret that passwords and traditional MFA are at their breaking point. But Passwordless MFA faces many adoption challenges, including unverified biometrics that rely principally on device possession for identity verification. In this session, Mike Engle will explain how verified identity provides a mechanism to truly know who is on the other end of a digital connection and present a low-friction roadmap for moving users gracefully to passwordless. Bringing Verified Identity and Passwordless to the Masses Today’s authentication challenges are mainly associated with phishing and often compromise a user’s device, not their identity. In this session 1Kosmos and AWS will review how a user's true identity can be used for authentication and how this approach can be rolled out for the masses. WHERE: ARIA Resort and Casino, Las Vegas, Nevada WHEN: Fast Track Passwordless MFA by Avoiding Five Common Pitfalls Wednesday, May 31, 1:25 pm - 1:40 pm in room Bluethorn 5 Bringing Verified Identity and Passwordless to the Masses Thursday, June 1, 4:30 pm - 4:55 pm in room Ironwood 8 HOW: To schedule a conversation with Mike Engle, contact Marc Gendron at marc@mgpr.net or +1 617.877.7480.
About 1Kosmos
1Kosmos enables passwordless access for workers, customers and residents to securely transact with digital services. By unifying identity proofing and strong authentication, the BlockID platform creates a distributed digital identity that prevents identity impersonation, account takeover and fraud while delivering frictionless user experiences. BlockID is the only NIST 800-63-3 via Kantara, FIDO2 and iBeta biometrics certified platform that performs millions of authentications daily for some of the largest banks, telecommunications and healthcare organizations in the world. The company is funded by Forgepoint Capital and Gula Tech Adventures with headquarters in East Brunswick, New Jersey. For more information, visit www.1kosmos.com and follow us on Twitter and LinkedIn . Contacts
Media: Marc Gendron Marc Gendron PR for 1Kosmos 617.877.7480 marc@mgpr.net
Ault Alliance Announces Its Subsidiary, BitNile, Inc., Has Deployed and Energized a Total of 19,000 Miners at Its Michigan Data Center and Through Its Bitcoin Mining Collaboration With Core Scientific
BitNile Has Energized 19,000 of Its 19,900 Miners; When Fully Deployed, Will Increase Hash Rate from 2.1 Exahashes to 2.2 Exahashes per Second, at an Annualized Revenue Run Rate of $56 Million
LAS VEGAS--(BUSINESS WIRE)-- $AP #19000_Bitcoin_miners -- Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“ Ault Alliance ” or the “ Company ”), has announced its wholly owned subsidiary, BitNile, Inc. (“ BNI ”), has deployed and energized approximately 9,000 of its Bitcoin miners at its Michigan data center. The Company also announced that BNI has completed its full deployment and energization of 10,000 Bitcoin miners that are being hosted through its strategic collaboration with Core Scientific, Inc. (“ Core Scientific ”), a prominent provider of high-performance blockchain computing data centers and software solutions.
Milton “Todd” Ault III, Founder and Executive Chairman of Ault Alliance, expressed his enthusiasm, “I’m thrilled to announce the successful deployment of nearly the entirety of our existing Bitcoin mining machines across our Michigan facility as well as those managed by Core Scientific. This achievement underscores our commitment to our stockholders and strategic partners. Our enhanced partnership with Core Scientific allows our ongoing expansion in the Bitcoin mining sector.”
Ault elaborated, “Leveraging the impressive power capacity of our Michigan data center with 28 megawatts (“ MW ”), along with Core Scientific’s 30 MW, we have secured an impressive 58 MW of power capacity, operating approximately 19,000 of our 19,900 miners, which, when fully deployed, will offer a substantial hash rate of 2.2 exahashes per second.”
He concluded, “Given the prevailing market conditions, which includes a Bitcoin trading price of approximately $27,200 and a mining difficulty of 49.55 trillion, our mining operations are projected to generate $56 million in annualized revenue. This substantial contribution will play a vital role in reaching our targeted consolidated revenue of $200 million for 2023.”
Ault Alliance notes that all estimates and other projections are subject to the actual installation of Bitcoin miners, the volatility in Bitcoin market price, the fluctuation in the mining difficulty level, and other factors that may impact the results of Bitcoin mining production or operations.
For more information on Ault Alliance and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company’s public filings and press releases available under the Investor Relations section at www.ault.com or available at www.sec.gov .
About Ault Alliance, Inc.
Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.ault.com .
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.ault.com . Contacts
IR@Ault.com or 1-888-753-2235
Dispersion Capital Launches $40M Fund For Decentralized Infrastructure
Backing early-stage infrastructure startups in web3, crypto, and blockchain
SAN FRANCISCO--(BUSINESS WIRE)--Early-stage venture firm Dispersion Capital announced its $40 million fund to back foundational web3 infrastructure.
Dispersion Capital has already invested in 20 companies, with a majority receiving follow-on financing since Dispersion's investment.
Patrick Chang , Dispersion Capital’s founder and managing partner, is a seasoned VC with established web3 credentials. He previously led Samsung Next’s blockchain investments, evolving its web2 focus with defining investments into powerhouse web3 startups, including Dapper, Flow, and Alchemy.
Dispersion Capital’s fund has garnered support from web2 and web3 pioneers like Faction, Lightspeed, Wemade, Circle Ventures, Ripple, Alchemy Ventures, Hashkey, Cherubic Ventures, Forte, NGC, and individual GPs at top venture firms and infrastructure executives.
" Since 2021, thousands of talented developers have emerged in the web3 space, poised to build next-gen applications. However, their potential is limited by the immaturity of the infrastructure. Dispersion Capital aims to support the creation of robust and developed infrastructure beyond protocols and networks," said Patrick Chang, Dispersion Capital's founder. “ This involves platforms and tools empowering developers to create groundbreaking applications, harnessing the true power of blockchain. Just as ChatGPT captured the imagination of AI, we aim to bring that transformative moment to blockchain."
“ Patrick was an instrumental force in establishing Next’s presence as an investor in web3 and blockchain, leading our investments in Dapper Labs, Flow, Alchemy, and Forte, among others. His tenacity and conviction in the space guided us to make non-obvious choices as early-stage investors that continue to bolster our reputation in the market,” said Brendon Kim, MD and Head of Investments at Samsung Next. “ After nearly a decade of working closely with Patrick and witnessing firsthand the passion and impact he brings to every project, we know he has a unique ability to spot the best and most ambitious founders before others and is well-positioned to scale the next generation of web3 infrastructure.”
About Dispersion Capital
Dispersion Capital is an early-stage venture firm for decentralized infrastructure. Our mission is to pioneer a multichain, multi-currency, and multi-platform world. We invest in foundational technologies for decentralized businesses, focusing on the tools for developers to deploy this reality. We focus on specific layers of web3, including fintech and gaming infrastructure, security, data, and platforms challenging legacy industries. Learn more at dispersion.xyz .
Read the full release here . Contacts
Rachel Pipan media@dispersion.xyz
YouHodler Unveils Game-Changing B2B Fintech Solutions At The 2023 Crypto Valley Conference
Exclusive YouHodler Masterclass To Empower Retail Fintech Businesses With Web3-Powered Services On June 1, 2023 At 15:30 CET Trading-As-A-Service And Loans-As-A-Service Aim To Fuel Exponential Growth In The Industry Network With The Industry’s Leading Influencers And Innovators At The Crypto Valley Conference YouHodler Boat Party On The Zugersee On Friday, June 2, 2023
LAUSANNE, Switzerland--(BUSINESS WIRE)-- YouHodler , a Swiss-based Web3 platform providing innovative fintech solutions that bridge fiat and crypto financial services, announced today that it will introduce a new suite of powerful B2B2C offerings at its exclusive masterclass, “How to Boost Revenues for Your Retail Fintech Business,” on June 1 at the 2023 Crypto Valley Conference (CVC), one of Europe’s flagship blockchain events, in Rotkreuz, Switzerland. Registration is available at https://www.youhodler.com/masterclass-cvc23 .
Tailored for retail fintech companies and led by a team of fintech and business experts, the masterclass will focus on driving sustainable revenue growth in different market conditions. Key topics include forging cross-industry partnerships and upgrading operations with YouHodler’s Web3-powered solutions, including Trading-as-a-Service and Loans-as-a-Service. To help companies who have already built a customer base but are struggling with monetisation, speakers will share tested and proven strategies from existing partnerships and discuss the most pressing challenges as well as emerging opportunities in crypto wallets, neo banks, and retail digital payment.
“Fintech is the key to unlocking untapped potential, and we're thrilled to ignite that spark this year at Crypto Valley Conference,” proclaimed Ilya Volkov, CEO and co-founder of YouHodler. “Our masterclass will unveil our game-changing solutions to the most innovative retail fintech players, fostering collaborative growth and paving the way for a Web3-enabled financial future. To date, YouHodler has been renowned for its cutting-edge mobile app and crypto services, and we are excited about the opportunity to expand our reach as a trusted B2B partner, fueling exponential growth and empowering the entire industry to navigate the uncharted waters of Web3 fintech.”
YouHodler’s latest B2B offerings, Trading-as-a-Service and Loans-as-a-Service, were developed based on the company’s successful retail Web3 fintech services, trusted by over 900,000 international users. With seamless API and SDK integration, companies can expand their capabilities for crypto investment and digital wealth management, enjoying the reliability and security offered by YouHodler’s robust infrastructure.
“We're ushering in a new era by extending our proven services to corporate clients, marking a major milestone in integrating innovative Web3 finance. By opening our doors to diverse companies, we aim to make Web3 finance more accessible, reliable, and user-friendly, fueling a future where digital finance empowers businesses and drives world-changing innovation,” said Vaida Saltenyte, head of partnerships at YouHodler.
The masterclass is part of the 2023 Crypto Valley Conference, held at Lucerne University of Applied Sciences and Arts between June 1-2. To learn more, secure a seat, or submit inquiries, visit https://www.youhodler.com/masterclass-cvc23 .
The Crypto Valley Conference is organized by Lucerne University and the Crypto Valley Association, an independent, non-governmental association building the world’s leading blockchain and cryptographic technology ecosystem. Featuring in-depth discussions on the current state and future of blockchain, the two-day conference is joined by leaders and experts at academic institutions, governments and renowned companies including Coinbase, Circle, Nasdaq, Cardano, and Solana. In addition to the masterclass, YouHodler will also participate in panel discussions with industry experts and host a boat cruise party at the conclusion of the event.
“The YouHodler Boat Party is planned to be an unforgettable networking experiential event at the culmination of the Crypto Valley Conference where attendees will be able to meet with the industry's top leaders, influencers, and innovators, while enjoying the beautiful scenery, great drinks, and lively conversations to build valuable connections,” added Volkov.
About YouHodler
YouHodler is a Swiss-based Web3 platform providing innovative fintech solutions that bridge fiat and crypto financial services with simplicity, efficiency, and transparency. Its comprehensive suite of offerings includes crypto-backed loans, crypto reward accounts, innovative crypto multiplication engines, and universal currency exchange. While user-friendly and intuitive for everyday consumers, the full-service platform is also progressive enough to conduct advanced strategic trading in the crypto market. For more information, please visit https://www.youhodler.com/ .
About Crypto Valley Association
Founded in January 2017, the Crypto Valley Association is a not-for-profit association established to support the development of cryptographic technologies, blockchain, and other distributed ledger technologies by supporting startups and other companies in Zug, Switzerland and internationally. Crypto Valley’s mission is to shape an open, free, and prosperous economy spanning multiple sectors and create a thriving ecosystem of individuals and companies passionate about building the future with blockchain. From its inception, the Crypto Valley Conference has been bringing together the strongest, steadiest and most influential minds of the Swiss and global crypto ecosystem and while the market constantly changes, one thing is certain – the technology has never been stronger, and innovation is sprouting everywhere. This year we continue CVC’s tradition of bringing attendees high quality, established speakers but also showcasing the newest projects through our Startup Competition and diving into the latest topics like market making, risk management, sustainability and much more. The Crypto Valley Conference is a wonderful mix of quality content and intimate networking that fuels our ecosystem. Contacts
Kalli Vetrano / Jessie Peng +1 516-672-2134 / +1 646-206-6087 The Pollack Group kalli@pollackgroup.com / jessie@pollackgroup.com
TradeStation® Collaborates with Plaid to Enhance Financial Account Connectivity Capabilities
TradeStation integrates with Plaid to create a more secure and efficient client experience
PLANTATION, Fla.--(BUSINESS WIRE)-- TradeStation Group, Inc. (“TradeStation”), a Florida-based company whose operating subsidiaries provide award-winning*, self-clearing online brokerage services for trading stocks, ETFs, options, futures, and crypto that aim to offer the ultimate trading experience, has announced its integration with Plaid, a data network powering the digital financial ecosystem.
The integration, delivered via TradeStation’s platform, makes it easier and more secure for customers to link their account data from their main financial institution through Plaid’s API into TradeStation’s web and mobile platforms and for customers to thereby fund their TradeStation accounts.
TradeStation has built a strong reputation as a trusted resource over the past 40 years with trading tools and platforms for traders, investors and institutions. Through Plaid’s modernized API technology, TradeStation clients will have an improved experience with significantly increased efficiencies, adding a distinct layer of security to safely transfer funds to fund their TradeStation accounts. Further, it ensures more reliable connections for users who grant permission to their accounts to Plaid-powered applications.
“TradeStation has remained committed to providing the best trading experience and as we continue to grow our business, account funding has been a critical success factor. Our collaboration with a leading open finance provider like Plaid takes TradeStation to the next level,” said John Bartleman, President and Chief Executive Officer of TradeStation Group, Inc. “Plaid’s expanded financial institution coverage, seamless user experience, higher funds transfer success rate and faster response times have already benefited TradeStation’s clients while positioning for future capabilities.”
About TradeStation Group, Inc.
Founded in 1982, TradeStation Group companies provide innovative fintech tools and are focused on delivering the ultimate trading experience to our clients. TradeStation provides award-winning* trading and analysis platforms and self-clearing online brokerage services for stocks, ETFs, equity and index options, commodity and financial futures, futures options, and digital assets. These trading platforms are accessible on desktop, web, and mobile devices, as well as via API technologies that provide seamless access to TradeStation’s brokerage environment through third-party platforms. TradeStation’s offerings also include deep and growing learning content designed to hone the skills of seasoned traders. In 2022, TradeStation commissioned the Miami Bull , an 11-foot, 3,000-pound statue, presented in Miami to both honor the city and champion the latest fintech technologies that have emerged around the world, including the emergence of blockchain, cryptocurrency, and decentralized finance.
TradeStation Securities, Inc. (Member NYSE, FINRA, SIPC, NSCC, DTC, OCC, NFA & CME) is a subsidiary of TradeStation Group, Inc. that offers self-clearing equities, options, futures and futures options brokerage services as a licensed securities broker-dealer and futures commission merchant (FCM) and is a member of major equities and futures exchanges in the United States. TRADESTATION SECURITIES, INC. IS A MEMBER OF NFA AND IS SUBJECT TO NFA’S REGULATORY OVERSIGHT AND EXAMINATIONS. HOWEVER, YOU SHOULD BE AWARE THAT THE NFA DOES NOT HAVE REGULATORY OVERSIGHT AUTHORITY OVER UNDERLYING OR SPOT VIRTUAL CURRENCY PRODUCTS OR TRANSACTIONS OR VIRTUAL CURRENCY EXCHANGES, CUSTODIANS OR MARKETS. TradeStation Crypto, Inc. is a subsidiary of TradeStation Group, Inc. that offers self-clearing cryptocurrency brokerage services under federal and state money services business, money-transmitter and similar registrations and licenses. TradeStation Crypto, Inc. is not subject to NFA’s regulatory oversight and examinations.
* Visit TradeStation.com/Awards for more information. Contacts
TradeStation Group, Inc. TradeStation@calibercorporateadvisers.com
Prometheum Ember Capital is the First SEC Qualified Custodian for Digital Assets Securities
First-ever SEC registered Special Purpose Broker-Dealer approved to custody digital asset securities
NEW YORK--(BUSINESS WIRE)--Prometheum Ember Capital LLC (“Prometheum Capital”), a subsidiary of parent company, Prometheum Inc., announced today it has received a first-of-its-kind approval from the Financial Industry Regulatory Authority (“FINRA”) to operate as a special purpose broker-dealer (“SPBD”) for digital asset securities. This approval permits Prometheum Capital to custody digital asset securities on behalf of retail and institutional clients.
With the approval of the SPBD, Prometheum Capital will serve as a qualified custodian. Standing in contrast to crypto exchanges and other trading platforms in the U.S. that operate only under state licenses, Prometheum Capital is subject to the Securities and Exchange Act (“SEA”) 15c3-3 Customer Protection Rule as required under federal securities laws.
“Digital asset investors in the U.S. are currently custodying cryptocurrencies that are securities through platforms that don't offer the same SEA 15c3-3 customer protections required by the federal securities laws. These platforms’ non-compliance may pose serious risks to both retail and institutional investors,” Prometheum, Inc. Co-CEO Aaron Kaplan said. “We expect that custodying assets in an SEC-registered broker-dealer will provide the regulatory protections needed to re-establish investor confidence, increase institutional adoption, and allow the industry to flourish.”
This status marks the first time that digital asset securities will be custodied in a FINRA member firm and a SEC registered broker-dealer subject to the federal securities laws. These laws require extensive policies and procedures designed to protect customers, counterparties, and market participants from the risks and consequences of digital asset security fraud, theft, or loss.
In 2017, Aaron Kaplan and his co-founder Benjamin Kaplan created Prometheum after recognizing a lack of investor protection in the digital asset sector. Aaron and Benjamin set out to build the first federally regulated end-to-end ecosystem for digital asset securities. The SPBD is a critical step toward completing their vision for building a safer, more responsible industry.
Separately, Prometheum ATS, a FINRA member firm and a SEC registered ATS, launched in October 2022, subject to the federal securities laws. Prometheum ATS can integrate with its clients' securities trading systems to allow access to and trading of digital asset securities.
To learn more, visit https://www.prometheum.com/ .
About Prometheum Founded in 2017 by a group of Wall Street attorneys, Prometheum is a blockchain-focused company building an end-to-end ecosystem for the trading, custody, and settlement of digital asset securities.
Prometheum, Inc. Disclosure This press release is issued for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. Contacts
703-944-4213 prometheum@wachsman.com
Global Middle Office Outsourcing Market Report 2023: Escalating Demand for New Technologies to Enhance Investment Compliance Management Drives Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Middle Office Outsourcing Market by Offering, Deployment Model, End User, and Region 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global middle office outsourcing market size reached US$ 7.2 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 12.2 Billion by 2028, exhibiting a CAGR of 9.19% during 2022-2028.
Companies Mentioned Accenture Plc Adepa Global Services S.A. Apex Group Ltd. Caceis Empaxis Data Management Inc. Indus Valley Partners. JPMorgan Chase & Co. Linedata Northern Trust Corporation Royal Bank of Canada Societe Generale Securities Services SS&C Technologies Inc. State Street Corporation The Bank of New York Mellon Corporation
The introduction of stringent rules related to reporting and transparency in financial organizations, the escalating demand for new technologies to enhance investment compliance management, and the growing finance awareness among the masses represent some of the key factors driving the market.
Middle office outsourcing refers to a solution involving third-party support for the post-trade and pre-settlement operations of a financial services company, investment bank, or hedge fund. Outsourcing focuses on non-core functions of an organization that are contracted out to save production costs and gain a competitive advantage.
Typically, the middle office is the department in the organization that provides accurate data to the front office departments for transaction completion, and thereby merges the work between both ends. Reconciliation, reporting and billing, portfolio accounting, and staff augmentation are some of the middle office operations that financial institutions outsource using third parties to overcome workflow disruptions and prevent incorrect reporting.
Through effective risk management and transaction execution, middle office outsourcing helps in generating indirect revenues. Among the numerous benefits of outsourcing, middle offices include improved customer satisfaction and services, reduced overhead costs, and enhanced operational efficiency.
The rising need for infrastructure upgradation in the finances of numerous end-use sectors due to increasing operational complexities is a significant factor driving the market. This can be attributed to the introduction of stringent rules related to reporting and transparency in financial organizations by several regulatory authorities across the globe.
In line with this, the escalating demand for new technologies to enhance investment compliance management is providing an impetus to the market. Moreover, the growing number of small and medium-scale financial institutions with budget constraints to manage in-house operations is also acting as a significant growth-inducing factor for the market.
The market is further fueled by the integration of artificial intelligence (AI), machine learning (ML), and the internet of things (IoT) to ensure regulatory report accuracy by automating data consumption and analysis and detecting error and compliance violations. Besides this, the increasing adoption of blockchain solutions on a trial basis in segments, such as collateral management and reconciliation by outsourcing service providers, is propelling the market.
Furthermore, rapid digitization of the financial sector, along with growing finance awareness among individuals, are creating a positive outlook for the market. Some of the other factors contributing to the market include the inflating disposable income levels, increasing competitions among the key players and extensive research and development (R&D) activities.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each segment of the global middle office outsourcing market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on offering, deployment model, and end user.
Offering Insights: Portfolio Management Trade Management Others
The report has provided a detailed breakup and analysis of the middle office outsourcing market based on the offering. This includes portfolio management, trade management, and others. According to the report, portfolio management represented the largest segment.
Deployment Model Insights: Cloud-based On-premises
The report has provided a detailed breakup and analysis of the middle office outsourcing market based on the deployment model. This includes cloud-based and on-premises. According to the report, on-premises represented the largest segment.
End User Insights: Investment Banking and Management Broker-Dealers Stock Exchanges Others
A detailed breakup and analysis of the middle office outsourcing market based on the end user has also been provided in the report. This includes investment banking and management, broker-dealers, stock exchanges, and others. According to the report, investment banking and management accounted for the largest market share.
Key Questions Answered in This Report: How has the global middle office outsourcing market performed so far and how will it perform in the coming years? What are the drivers, restraints, and opportunities in the global middle office outsourcing market? What are the key regional markets? Which countries represent the most attractive middle office outsourcing markets? What is the breakup of the market based on the offering? What is the breakup of the market based on the deployment model? What is the breakup of the market based on the end user? What is the competitive structure of the global middle office outsourcing market? Who are the key players/companies in the global middle office outsourcing market?
For more information about this report visit https://www.researchandmarkets.com/r/mfn9ze
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Contacts
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Tassat® Group, Inc. Announces Multi-Currency Offering
Leading B2B payments provider to offer capabilities for banks to hold and manage multiple fiat currencies within a single wallet
NEW YORK--(BUSINESS WIRE)--Tassat® Group, Inc., the leading provider of real-time digital payments solutions for commercial banks and their business-to-business (B2B) clients, today announced a new multiple fiat currency functionality which will be available on the Tassat platform beginning in June.
Tassat’s clients will be able to create and hold wallets to execute non-USD transactions on the Tassat platform, beginning with the G7 currencies. Tassat is a proven partner for U.S. banks and their B2B clients with over $1.3 trillion in private permissioned blockchain-enabled real-time payments operating fully within the existing regulatory perimeter. As with Tassat’s other solutions, Tassat’s multi-currency capability will operate within any core banking system, including industry leaders FIS, Fiserv, and Jack Henry.
“Adding multi-currency wallets to the Tassat platform paves the way for our banking partners to offer their clients a safe, low-cost way to execute real-time payments in multiple fiat currencies,” said Kevin R. Greene, Chairman & CEO of Tassat Group.“Commercial banking clients in the U.S. don’t conduct their business solely in one currency, and we are very pleased to offer this innovation to equip commercial banks with the power to build global use cases for their B2B customers.”
As a proven platform executing hundreds of millions of dollars in private blockchain-enabled payments daily, Tassat has developed more than 20 use cases with its clients, including logistics, mortgage warehousing, commercial construction lending, and private equity capital calls, as well as broader working capital applications for banks’ corporate clients. With a team of more than 80 experts in designing, implementing and supporting real-time payments solutions, Tassat’s latest multi-currency offering is a crucial asset for banks and their corporate clients to hold and manage multiple currencies within one centralized wallet.
“Tassat is revolutionizing the financial landscape by providing innovative digital solutions such as our latest multi-currency wallets on TassatPay,” said Glendy Kam, Chief Product Officer of Tassat Group. “This offering brings unprecedented convenience and flexibility to enable businesses to seamlessly transact and compete on a global scale.”
This new multi-currency solution adds global applications to the company’s robust suite of actively deployed real-time payments solutions. Tassat plans to continue developing innovative products to empower its banking partners and their clients to meet the increasingly global and instantaneous demands of modern-day banking.
About Tassat Group
Tassat Group, Inc. is a N.Y.-based technology company that is the leading provider of private blockchain-based, real-time solutions for commercial banks including TassatPay, which enables banks to provide their corporate clients with instantaneous, secure, real-time payments 24/7/365. TassatPay has become the most trusted blockchain-based platform for the banking industry and its B2B clients with more than $1 trillion in secure, real-time transactions to date. Tassat has added Smart Contracts and Fedwire functionality to make TassatPay a one-stop shop for B2B Payments. Tassat was honored with a 2021 Google Cloud Customer Award for innovation in financial services. For more information, visit us at www.tassat.com , on Twitter or on LinkedIn . Contacts
Nneka Etoniru Bevel 1 (774) 627-0135 tassat@bevelpr.com
WisdomTree Publishes Comprehensive Presentation Regarding 2023 Annual Meeting of Stockholders
Presentation Reviews WisdomTree’s Strategy and Performance, Experience and Expertise of its Highly Qualified Board Nominees, Extensive Track Record of Board Refreshment, and Counters Misleading Attacks by ETFS Capital WisdomTree Urges Stockholders to Vote “FOR” ALL SIX of its Director Nominees on the WHITE Proxy Card TODAY
NEW YORK--(BUSINESS WIRE)--WisdomTree, Inc. (NYSE: WT) (“WisdomTree” or the “Company”), a global financial innovator, today published a comprehensive presentation for stockholders in connection with WisdomTree’s 2023 Annual Meeting of Stockholders (“2023 Annual Meeting”), which is scheduled to be held on June 16, 2023. The presentation is available here on WisdomTree’s investor relations website.
The presentation details the steps the WisdomTree Board and management team have taken to transform the Company’s business and position it for innovation, growth and margin expansion opportunities – and the clear evidence that WisdomTree’s strategy is working: WisdomTree has created the largest pure-play ETF platform with a high-quality, diversified and differentiated product suite. WisdomTree’s stock has been a top performer over the past three years and the best performing stock year-to-date relative to all other publicly listed U.S. traditional asset managers. The business has never been stronger, with record AUM of over $90 billion, a 25% annualized organic growth rate through April 2023 and ten consecutive quarters of net inflows globally. By actively investing in digital assets, tokenization and blockchain-enabled finance, WisdomTree is well-positioned for the future and to gain market share and take advantage of this industry shift as an early mover. The Company’s tokenization strategy is positioned to deliver favorable financial results. WisdomTree’s long-term strategy will continue to provide scale, stability and margin expansion. WisdomTree established an Operations and Strategy Committee of the Board in 2022 to conduct an extensive review of the Company’s strategy and operations, which led to the Board unanimously concluding that it supports the Company’s strategy, management and plan for stockholder value creation.
The presentation also reviews in depth the qualifications of the Company’s experienced and diverse Board and the Board’s ongoing refreshment process, including the additions of new directors and nominees who add vital skills to the Board: The Company has appointed five new independent directors since 2021, all of whom are diverse and who now constitute a majority of the Board. Newly appointed director Daniela Mielke and new director nominee Shamla Naidoo provide the digital and technology expertise that our Board needs. WisdomTree has enhanced its corporate governance and compensation practices to further align with its peers and increase accountability to stockholders. The Board is overseeing the Company’s continued growth and transformation, and ALL SIX of WisdomTree’s Board nominees are critical to the Company’s continued success.
Finally, the presentation sets the record straight regarding ETFS Capital’s unnecessary campaign, its unqualified nominees, and its numerous unjustified and misleading claims about WisdomTree: WisdomTree risks losing integral experience if ETFS Capital’s nominees are elected to the Board: Bruce Aust has no public company C-suite experience and no asset management experience, Tonia Pankopf has a track record of value destruction and is an “activist nominee for hire,” and Graham Tuckwell, chairman of ETFS Capital, has disqualifying conflicts of interest and a troubling history of violating fiduciary duties and putting his personal interests ahead of stockholders. ETFS Capital does not offer WisdomTree stockholders a “strategy” but rather a one-time rudimentary so-called “plan” to destroy long-term value creation for WisdomTree stockholders.
WisdomTree urges stockholders to reject ETFS Capital’s risky agenda and vote the WHITE proxy card or voting instruction form TODAY “FOR” ALL SIX of WisdomTree’s director nominees.
Additional Information
WisdomTree has filed its stockholder presentation on Schedule 14A with the Securities and Exchange Commission (“SEC”) in connection with WisdomTree’s 2023 Annual Meeting. The Company is sending its presentation to all stockholders entitled to vote as of the record date, April 27, 2023, along with the Company’s WHITE proxy card or voting instruction form.
Investors and stockholders can find out more about the proxy vote at the 2023 Annual Meeting by visiting the WisdomTree investor relations website and navigating to the page entitled “2023 Annual Meeting”: https://ir.wisdomtree.com/2023-annual-meeting-proxy-vote .
Should any stockholders have questions about how to vote your shares, or need additional assistance, please contact the firm assisting WisdomTree, Innisfree M&A Incorporated, at (877) 750-5836 (toll-free) or (212) 750-5833 (banks and brokers call collect).
Advisors
BofA Securities is serving as financial advisor, and Goodwin Procter LLP is serving as legal counsel to WisdomTree. Innisfree M&A is serving as proxy solicitor and H/Advisors Abernathy is serving as strategic communications advisor.
About WisdomTree
WisdomTree is a global financial innovator, offering a well-diversified suite of exchange-traded products (ETPs), models and solutions. We empower investors to shape their future and support financial professionals to better serve their clients and grow their businesses. WisdomTree is leveraging the latest financial infrastructure to create products that provide access, transparency and an enhanced user experience. Building on our heritage of innovation, we are also developing next-generation digital products and structures, including digital funds and tokenized assets, as well as our blockchain-native digital wallet, WisdomTree Prime™.
WisdomTree currently has approximately $90.6 billion in assets under management globally.
WisdomTree ® is the marketing name for WisdomTree, Inc. and its subsidiaries worldwide.
Cautionary Statement Regarding Forward-Looking Statements
Any statements contained in this letter that do not describe historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are identified by use of the words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “should,” “views,” and similar expressions. Any forward-looking statements contained herein are based on current expectations, but are subject to risks and uncertainties that could cause actual results to differ materially from those indicated, including, but not limited to, the impact and contributions of the slate of director nominees WisdomTree has nominated, the effectiveness of WisdomTree’s board refreshment process in identifying candidates with the set of skills to oversee WisdomTree’s strategy, the ability of the candidates proposed by Mr. Tuckwell to enhance WisdomTree’s board or enhance its strategy, and WisdomTree’s ability to achieve its financial and business plans, goals and objectives and drive stockholder value, including with respect to its ability to successfully implement its strategy relating to WisdomTree Prime™, and other risk factors discussed from time to time in WisdomTree’s filings with the SEC, including those factors discussed under the caption “Risk Factors” in its most recent annual report on Form 10-K, filed with the SEC on February 28, 2023, and in subsequent reports filed with or furnished to the SEC. WisdomTree assumes no obligation and does not intend to update these forward-looking statements, except as required by law, to reflect events or circumstances occurring after today’s date.
Important Additional Information and Where to Find It
WisdomTree filed a proxy statement on Schedule 14A, an accompanying WHITE proxy card and other relevant documents with the SEC in connection with such solicitation of proxies from WisdomTree stockholders for WisdomTree’s 2023 Annual Meeting. WISDOMTREE STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ WISDOMTREE’S DEFINITIVE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO), ACCOMPANYING WHITE PROXY CARD, AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors and stockholders may obtain a copy of the definitive proxy statement, an accompanying WHITE proxy card, any amendments or supplements to the definitive proxy statement and other documents that WisdomTree files with the SEC at no charge at the SEC’s website at www.sec.gov . Copies will also be available at no charge on WisdomTree’s Investor Relations website at https://ir.wisdomtree.com/sec-filings or by contacting Jeremy Campbell, Head of Investor Relations, at jeremy.campbell@wisdomtree.com , as soon as reasonably practicable after such materials are electronically filed with, or furnished to, the SEC.
Disclaimer
WisdomTree has neither sought nor obtained the consent from any third party to use any statements or information contained in this press release that have been obtained or derived from statements made or published by such third parties. Any such statements or information should not be viewed as indicating the support of such third parties for the views expressed herein.
Category: Business Update Contacts
Investor Relations WisdomTree, Inc. Jeremy Campbell +1.646.522.2602 Jeremy.campbell@wisdomtree.com
or
Innisfree M&A Incorporated Jonathan Salzberger / Scott Winter +1.212.750.5833 jsalzberger@innisfreema.com / swinter@innisfreema.com
Media Relations WisdomTree, Inc. Jessica Zaloom +1.917.267.3735 jzaloom@wisdomtree.com / wisdomtree@fullyvested.com
or
H/Advisors Abernathy Jeremy Jacobs / Dana Gorman +1.202.774.5600 / +1.212.371.5999 jeremy.jacobs@h-advisors.global / dana.gorman@h-advisors.global
Strike launches global money app to 3 billion people in over 65 countries
Founder and CEO Jack Mallers announced the massive global expansion of the Strike app at the Bitcoin 2023 conference in Miami
CHICAGO--(BUSINESS WIRE)-- Strike , the global money app for fast, safe payments and bitcoin, today announced the global launch of its app in over 65 countries, expanding access to its revolutionary payments and bitcoin services to nearly 3 billion people worldwide.
Strike’s global money app leverages the power of Bitcoin and the Lightning Network to deliver a smooth, secure, and cost-effective experience that has been redesigned from the ground up. Customers can sign up in a few clicks, instantly send and receive cash and bitcoin, pay a Strike user, utilize the Lightning Network, and buy bitcoin, all in one app.
Strike’s platform is designed to empower people in countries around the world who face social and economic adversity including hyperinflation, unstable local currencies, and lack of access to fundamental financial services.
“Everyone on planet Earth should have easy access to money that can't be inflated by governments and a payments network that can't be influenced by intermediaries,” said Jack Mallers, Founder and CEO of Strike. “Emerging market economies have long been plagued by financial uncertainty, inflation, and predatory services threatening people's ability to save, invest, and achieve financial stability. Bitcoin fixes this. Strike is a global money app that gives everyone easy access to better payments and bitcoin. It's an experience billions of people need. That's our mission, Better Money. It's what we do.”
Previously, Strike has been available in the U.S., Argentina, and El Salvador. As of today’s announcement at the Bitcoin 2023 conference in Miami, the Strike app is now available in over 65 countries with plans to continue adding more markets.
About Strike
Strike enables cheaper, faster, global, cash-final payments for both businesses and consumers. Strike is built on top of the Bitcoin network – the largest global, interoperable, and open payments standard. Strike believes that open payment networks enable universal participation in the financial system, with truly borderless money transfers, cheaper payment processing, and new payment experiences previously impossible with legacy technology. https://strike.me Contacts
Lavinia Chirico press@strike.me
Ripple Appoints Warren Jenson to Board of Directors
SAN FRANCISCO--(BUSINESS WIRE)-- Ripple , the leader in enterprise blockchain and crypto solutions, today announced Warren Jenson is joining its Board of Directors. A seasoned CFO and operations leader, Jenson brings decades of experience in business at today’s most recognizable companies including Amazon, Delta Airlines, NBC, Electronic Arts and Nielsen to Ripple as the company continues to expand its presence in global markets. Jenson has also been appointed as the Chair of the Audit Committee, the coalition of independent experts overseeing the formal auditing process of Ripple’s operations.
“Ripple is in the midst of unprecedented scale, and Warren's background will be invaluable as Ripple continues to be a responsible global leader in the space,” said Brad Garlinghouse, CEO, Ripple. “Transparency and accountability are core pillars of Ripple’s operations; as an established CFO with operational knowledge across a variety of sectors, Warren’s unique expertise and experience as a transformational leader will be an incredible resource guiding our next steps for broader adoption of Ripple’s offerings from customers around the world.”
Jenson has managed the financial operations as CFO for companies driving innovation as leaders in their respective sectors for more than three decades, having most recently been named Chief Financial Officer of Nielsen. In addition to his position with Ripple, Jenson serves on the Board of Directors for DigitalOcean and Jobcase. He brings his passion for innovation and leadership to the National Advisory Committee for the Marriott School of Business at Brigham Young University and the Board of Leaders for USC’s Marshall School of Business.
“ Throughout my career, I’ve been fortunate enough to join iconic companies driving transformative change in their respective fields, which is why I’m excited to join Ripple at a pivotal time when cryptocurrency and blockchain technologies are increasingly becoming integrated into financial services,” said Warren Jenson. “For cryptocurrency to successfully deliver on its potential to revolutionize traditional financial infrastructure, companies in the space must prioritize transparency. I’m excited to bring my experience to the company and share Ripple’s commitment to upholding the highest standards.”
On Ripple’s Board of Directions, Jenson joins esteemed leaders including Former Treasurer of the United States Rosie Rios, Former JPMorgan Chase Chief Regulatory Affairs Officer Sandie O’Connor, and Managing Director of Albright Stonebridge Group Michael Warren.
About Ripple
Ripple is the leader in enterprise blockchain and crypto solutions, transforming how the world moves, manages and tokenizes value. Ripple’s business solutions are faster, more transparent, and more cost effective - solving inefficiencies that have long defined the status quo. And together with partners and the larger developer community, we identify use cases where crypto technology will inspire new business models and create opportunity for more people. With every solution, we’re realizing a more sustainable global economy and planet - increasing access to inclusive and scalable financial systems while leveraging carbon neutral blockchain technology and a green digital asset, XRP. This is how we deliver on our mission to build crypto solutions for a world without economic borders. Contacts
press@ripple.com
Ault Alliance Declares Monthly Cash Dividend of $0.2708333 Per Share of 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock
LAS VEGAS--(BUSINESS WIRE)-- $AP #13_percent_annual_interest -- Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“ Ault Alliance ,” or the “ Company ”), today announced that its Board of Directors has declared a monthly cash dividend of $0.2708333 per share of the Company’s outstanding 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock. The record date for this dividend is May 31, 2023, and the payment date is June 12, 2023.
Link to NYSE quote for the Company’s 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock: https://www.nyse.com/quote/XASE:AULTpD
For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or available at www.sec.gov.
About Ault Alliance, Inc.
Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.com .
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8- K. All filings are available at www.sec.gov and on the Company’s website at www.Ault.com. Contacts
Ault Alliance Investor Contact: IR@Ault.com or 1-888-753-2235
Ault Alliance Announces Termination of Exchange Offer
LAS VEGAS--(BUSINESS WIRE)-- $AP #10_percent_annual_interest_Preferred --Ault Alliance, Inc. (“ Ault Alliance ” or the “ Company ”) (NYSE American: AULT), announced today that it has terminated the previously announced offer (the “ Offer ”) to holders of Ault Alliance’s outstanding Class A Common Stock (the “ Common Stock ”) to exchange shares of Common Stock for its 10.00% Series H Cumulative Redeemable Perpetual Preferred Stock (“ Series H Preferred Stock ”), as a result of notice from the Depositary Trust Company (“ DTC ”) that due to logistical issues relating to the Company’s recently effectuated 300 for one reverse stock split (the “ Reverse Stock Split ”), DTC would not be able to accept the tenders of Common Stock on a post-Reverse Stock Split basis. As a result of this termination, no shares will be exchanged in the Offer and all shares previously tendered and not withdrawn will be promptly returned to tendering holders.
The Company’s obligation to exchange shares pursuant to the Offer was subject to a condition that specified that there shall not have occurred or be likely to occur any event that could reasonably be expected to materially adversely affect the settlement of the Offer.
On May 18, 2023, DTC notified the Company that after the Reverse Stock Split it could not accept the shares tendered in the Offer on a post-Reverse Stock Split basis. As shares of Common Stock tendered could not be accepted by the DTC and exchanged for Series H Preferred Stock, the Offer could not be settled.
In addition, the stockholders only tendered 29,623,948 shares of Common Stock in the Offer, which did not satisfy the condition that 100,000,000 shares of Common Stock be tendered in the Offer.
The Company will assess whether to commence a new exchange offer, though there can be no assurance that the Company will proceed with a new exchange offer or as to the terms thereof.
About Ault Alliance, Inc.
Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.ault.com .
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.ault.com . Contacts
IR@Ault.com or 1-888-753-2235
Wolters Kluwer wins innovation plaudits for Integrated CCH Axcess Engagement suite
Wolters Kluwer Tax and Accounting recognized by the Stevie Awards, the BIG AI Excellence Awards and the CODiE Awards
NEW YORK--(BUSINESS WIRE)-- Wolters Kluwer Tax & Accounting , a global leader in professional information, software solutions, and services for tax, accounting and audit professionals, has been recognized with a number of major industry awards. The accolades include a Bronze Stevie® in the Compliance Solution category in The 21st Annual American Business Awards®, a 2023 Artificial Intelligence (AI) Excellence Award winner by The Business Intelligence Group, and as a 2023 SIIA CODiE Award Finalist in the Best Compliance Solution category.
All awards recognize the integration of CCH Axcess™ Engagement Pro with CCH Axcess™ Knowledge Coach as an innovative solution that helps firms ensure governance, risk mitigation and compliance with AICPA audit standards, while also keeping the focus on auditor judgement.
“The solution addresses a critical need in the marketplace by leveraging predictive intelligence to help tax and accounting firms provide proactive advisory services to their clients. The software saves users time, increases client satisfaction, and enables firms to position themselves as trusted advisors,” commented one of the American Business Awards judges.
The integration of audit methodology into the engagement workflow serves as the cornerstone of the much-anticipated CCH Axcess™ Engagement suite, which is now available for small firms and will be available for larger firms in August 2023. The integrated, cloud-based CCH Axcess Engagement suite seamlessly brings together Wolters Kluwer audit solutions and methodology into a single application, creating flexibility to tailor each audit to the client's unique circumstances. As part of the CCH Axcess platform, the Engagement suite integrates with all CCH Axcess products, including tax and firm management solutions, increasing collaboration and efficiency across the entire firm.
“We are dedicated to designing products that ensure our clients are working at the top of their capabilities,” said Colleen Knuff, Vice President of Audit Product Management at Wolters Kluwer Tax & Accounting North America. “These awards are proof of our unwavering commitment to deliver innovative solutions that support our customers and their growth.”
“The CCH Axcess Engagement suite is going to really help accelerate the audit market’s move to the cloud, unleashing so much potential for audit assurance practices,” added Knuff. “Our goal is to never stop innovating. Looking to the future of audit, we also see the possibility to continue this transformation globally. I am so excited for what comes next.”
The CCH Axcess Engagement suite is the latest enhancement to Wolters Kluwer’s award-winning, cloud-based CCH Axcess platform. CCH Axcess is the only fully-cloud based solution for tax, firm management, accounting, audit, and advisory services. Trusted by 94 of Accounting Today's Top 100 Firms, CCH Axcess continues to drive industry transformation by focusing on the future of leading-edge technologies like AI, machine learning, and blockchain to ensure firms stay as productive and profitable as possible.
About Wolters Kluwer
Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software, and services for professionals in healthcare, tax and accounting, financial and corporate compliance, legal and regulatory, and corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.
Wolters Kluwer reported 2022 annual revenues of €5.5 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 20,000 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.
For more information, visit www.wolterskluwer.com , follow us on Twitter , Facebook , LinkedIn , and YouTube . Contacts
Angela Coenen VP, Communications and Branding Wolters Kluwer Tax & Accounting Angela.coenen@wolterskluwer.com 952-270-0522