Blockchain Press Releases
AlixPartners: As the global automotive market recovers more slowly than anticipated, China is rapidly emerging as an industry superpower

Chinese car manufacturers now lead the world in export volume as the traditional western car industry is running out of time to defend its historic domestic market share.
LONDON, June 27, 2023 /PRNewswire/ — With supply chain bottlenecks and raw material shortages becoming a thing of the past, the global market for automobiles is growing once again – but at a significantly slower pace than many experts expected.
As a result, sales figures in Europe will be more than 15% below pre-Covid levels in the longer term with the UK fairing slightly better at c.10% below pre-Covid levels but levelling off at c.2.4m vehicles sold annually by around 2026.
At the same time, European OEMs are also increasingly under pressure in their home markets from Chinese manufacturers, more and more of whom are pushing into European markets with electric vehicles. In the first quarter of 2023, China replaced Japan as the world leader in automotive exports – an astonishing advancement from sixth place as recently as 2019.
These are among the key findings from global consulting firm AlixPartners 2023 Global Automotive Outlook, a regularly cited source of reference for the OEMS, suppliers and industry commentators alike.
Automotive market continues to grow, but at a slower pace
- China drives global automotive market growth
- Growth slows in other regions – contrary to earlier predictions
- Sales figures in Europe are predicted to be more than 15% below pre-Covid levels in the long term
- UK Sales figures are expected to fair slightly better plateauing at c.10% below pre-Covid levels
- Battery costs not falling fast enough and threaten to dampen the rapid increase in sales of electric cars over the next three to five years and extending ICE lifetime
China is increasingly becoming an automotive superpower
- In 2019, China was the world’s sixth largest automotive exporter. As of Q1 2023, Chinese OEMs have replaced Japan as the export world leaders for the first time
- In the Chinese domestic market in 2023, and for the first time in decades, Chinese brands will surpass foreign brands (51%) and are predicted to reach a market share of 65% by 2030
- While the industry has hitherto focused on Tesla as a single marque threat, now is the time to prepare for future competition from Chinese BEV imports from an ever-growing roster of manufacturers
Increasing pressure on margins and liquidity of European OEMs and suppliers
- OEMs’ earnings situation will deteriorate in a low growth market – with margins of OEMs and suppliers converging again
- Suppliers’ net debt rises to record levels (+27% since 2018) due to operational liquidity requirements; however, OEMs’ debt has decreased (-8% since 2018)
- Rising capital costs and ongoing record investments due to the switch to electric cars require active management of cash flow and liquidity, especially for suppliers
In the UK, investment in battery manufacturing capacity has not materialised at the levels seen elsewhere – increasing the UK’s reliance on China and recent drops in raw material costs have reversed yet again due to rising Chinese demand, remaining between 30-80% above pre-Covid levels.
“While UK sales volumes are expected to plateau in the long term, we do see conflicting tensions between continued lower scrappage rates and increasing average vehicle age in the car park being offset by sustained population growth and steady rates of car ownership per person”, said AlixPartners automotive expert Tom Beard regarding the UK picture. “Keeping an eye on changes to these trends will be key to understanding the real long-term impact in the UK”.
China continues its growth trajectory not only as an attractive sales market but also as an exporter and producer in equal measure. This is also reflected in the Chinese domestic market: in 2023, for the first time in decades, Chinese brands will surpass foreign ones (51%) and are predicted to reach a home market share of 65% by 2030.
Commenting on China’s increasing importance Andrew Bergbaum, a Partner & Managing Director in the Alixpartners Automotive practice, said, “China can now really be regarded as an automotive superpower. UK & European OEMs, on the other hand, are increasingly taking on the role of defenders of market share in their traditional, and shrinking, home markets. At the same time, having enjoyed some recent pricing power, they are now coming under pressure with tightening margins in the face of a low growth global market and increasing competition. For the UK, the proposed accelerated transition away from pure combustion engines by 2030 is going to position lower-cost Chinese imported BEVs as attractive alternatives”.
At the same time, costs are escalating and becoming a critical factor for OEMs and automotive suppliers alike. Raw material costs will not return to pre-Covid levels and have recently risen, yet again, to 30-80% of pre-Covid levels. With China’s continued market growth, forecast to achieve 117% on pre-covid volumes, AlixPartners does not foresee battery capacity catching up with demand and, in jurisdictions such as the UK, requirement, in the near term.
As a result, it is becoming increasingly apparent that combustion engines and electric vehicles will exist in parallel for longer than originally expected. The lengthening ICE lifetime is helped by the fact that the drawn-out decline in the cost of batteries will significantly dampen the pace of the transition to electric mobility in the medium term. This ‘twin-tracking’ prevents the establishment of rapid economies of scale and in turn further increases the acute financial pressure on the industry.
“The UK is already 3 to 5 years behind the rest of Europe in terms of building EV battery manufacturing capacity. This gap is widening, with the possibility of Europe largely removing its reliance on China by 2027. Even if additional UK investments were confirmed in the very short term, the challenging ramp-up process means the UK could still be reliant on importing more than a third of its batteries by 2030, adding further cost pressures to UK-built vehicles”, AlixPartners EV and battery expert Ken Henderson said of the UK’s EV conundrum.
Rising capital costs round off the negative scenario. Automotive suppliers are confronted with a rapid increase in net debt due to their sandwiched position (+27% since 2018). The chance of passing on further manufacturing cost increases from material and labour through to OEMs is low and yet at the same time the transition to electromobility requires a high level of operational liquidity.
AlixPartners Automotive and Restructuring Partner & Managing Director Nick Parker said, “The stress phase for suppliers, which has endured now for several years, will persist and continues to pose existential challenges for many of them. The debt of the supplier industry is currently at a record high, while at the same time the cost of capital and liquidity requirements for current business and investments are rising. The pressure on margins remains high. Cash flow and liquidity management must therefore be a top priority for suppliers. We expect that this situation will also lead to further consolidation in the supplier industry and the continued divestment of combustion engine-related operations”.
Notes to editors
About the Global Automotive Outlook
2023 is the 20th year of the AlixPartners Global Automotive Outlook. The globally recognised study is considered one of the most important trend barometers of the automotive industry worldwide, allying industry data with the unique insights of AlixPartners Automotive experts. For the study, the global consultancy evaluated the financial results of more than 300 automotive manufacturers and suppliers, undertook consumer surveys, and conducted almost 100 expert interviews.
About AlixPartners
AlixPartners is a results-driven global consulting firm that specializes in helping businesses successfully address their most complex and critical opportunities. Our clients include companies, corporate boards, law firms, investment banks, private equity firms, and others. Founded in 1981 in Detroit, AlixPartners is headquartered in New York, and has offices in more than 20 cities around the world. For more information, visit www.alixpartners.com.
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Blockchain Press Releases
HTX Research Analysis: Bittensor’s dTAO Upgrade Redefines Decentralized AI Infrastructure

SINGAPORE, March 19, 2025 /PRNewswire/ — HTX Research, the research arm of HTX Group, has released an in-depth report titled, “dTAO and the Evolution of Bittensor: Reshaping Decentralized AI with Market-Driven Incentives.”. The evolution of artificial intelligence has transitioned from foundational model development to the refinement and optimization of existing systems, a trend exemplified by industry leaders such as DeepSeek and OpenAI. This analysis examines how Bittensor’s Dynamic TAO (dTAO) upgrade addresses inherent challenges within decentralized AI, positioning the network as a pioneering force in this emerging sector.
Bittensor’s Architecture: Foundation for a Decentralized AI Ecosystem
Bittensor’s architecture is structured around three core components: the Subtensor blockchain, a Polkadot parachain with EVM compatibility; 64 specialized subnets; and a governance-focused Root Subnet. The network employs a dual-key security system, Coldkey-Hotkey, and a subnet UID framework to facilitate secure and open participation for miners and validators. At the core of its operational model is the Yuma Consensus (YC), a dynamic incentive mechanism that diverges from traditional static reward systems. YC assesses validators’ weight vectors, derived from historical performance and stake, to distribute TAO rewards every 12 seconds, establishing a self-regulating “stake → weight → reward” loop. This mechanism aligns contributions with incentives while mitigating malicious activities through continuous adjustments.
The dTAO Upgrade: Market-Driven Resource Allocation
The dTAO upgrade, implemented on February 13, 2025, introduces liquidity pools for subnet tokens, fundamentally altering Bittensor’s economic framework. Key innovations include:
- Subnet Token Liquidity Pools: Each subnet’s dTAO tokens are paired with TAO in automated market-maker pools, enabling price discovery driven by supply-demand dynamics.
- Emission Rebalancing: 50% of new subnet emissions are injected into liquidity pools, incentivizing long-term participation.
- Validator-as-VC Dynamics: Validators now act as venture capitalists, strategically staking TAO into high-potential subnets to maximize returns.
This upgrade addresses previous systemic limitations, such as validator centralization, resource redundancy, and misaligned incentives. By linking subnet rewards to market performance, dTAO fosters competition, encouraging the development of specialized AI solutions, ranging from multimodal content detection to decentralized search engines.
Ecosystem Impact: Emergence of High-Performance Subnets
The implementation of dTAO has led to the emergence of high-performing subnets, operating within a self-reinforcing feedback loop where increasing token prices attract greater TAO emissions, subsequently drawing more users and validators. Examples include:
- Chutes: A CLI toolkit for deploying decentralized apps, Chutes’ subnet token surged rapidly, driven by its integration with Bittensor’s Subnets 19 and 56.
- Multi Modality (Subnet 4): Focused on AI-generated content detection, this subnet leverages balanced validator-miner challenges to ensure model accuracy.
However, projects like Kaito highlight potential pitfalls, demonstrating that technical proficiency alone does not guarantee success without robust integration with core product utility.
Despite the advancements introduced by dTAO, HTX Research also identifies ongoing challenges, including the lack of real-world demand drivers for TAO rewards, the potential for resource redundancy among overlapping subnets, and persistent validator centralization. To ensure sustained growth, HTX Research emphasizes the necessity for on-chain verifiability, standardized subnet performance benchmarking systems, and the integration of subnet token utility, such as governance or service access, to reduce speculative trading.
Bittensor’s dTAO upgrade signifies a transition from centralized governance to market-driven incentives. While challenges remain, the network’s architecture and economic model provide a solid foundation for decentralized AI innovation. As subnet tokens evolve into tools with tangible utility, Bittensor is positioned to redefine collaborative and competitive dynamics within AI ecosystems.
HTX Research remains committed to providing comprehensive analyses of these developments, offering actionable insights into the intersection of AI and blockchain technology. For the complete report, please visit Here.
About HTX Research:
HTX Research is the dedicated research arm of HTX Group, responsible for conducting in-depth analyses, producing comprehensive reports, and delivering expert evaluations across a broad spectrum of topics, including cryptocurrency, blockchain technology, and emerging market trends. Committed to providing data-driven insights and strategic foresight, HTX Research plays a pivotal role in shaping industry perspectives and supporting informed decision-making within the digital asset space. Through rigorous research methodologies and cutting-edge analytics, HTX Research remains at the forefront of innovation, driving thought leadership and fostering a deeper understanding of evolving market dynamics.
Contact: [email protected]

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Blockchain Press Releases
BTCC Exchange Named Headline Sponsor of Red Eagle Foundation’s Charity Golf Day Featuring Matt Le Tissier

VILNIUS, Lithuania, March 19, 2025 /PRNewswire/ — BTCC, the world’s longest-serving crypto exchange, is proud to continue its support of the Red Eagle Foundation’s charity golf day this year, featuring football legend Matt Le Tissier. This prestigious event, set for March 27, 2025, at the esteemed London Golf Club, aims to raise funds for disadvantaged children across the UK.
The Red Eagle Foundation is dedicated to improving the lives of children facing mobility challenges, mental health struggles, and learning difficulties, particularly those from underprivileged backgrounds. By providing funding for essential equipment not covered by the NHS, the foundation plays a crucial role in transforming lives.
As BTCC marks its 14th anniversary, the exchange is launching a series of in-person initiatives, beginning with this charity event. Last year’s partnership with the Red Eagle Foundation was a tremendous success and raised £31,000 for its beneficiaries. This year, the demand has been even greater with tickets selling out quickly, a testament to the community’s commitment to this meaningful cause.
The charity event will feature a morning golf tournament, followed by a luncheon where attendees can engage in a Q&A session with Matt Le Tissier. The day will conclude with a charity auction and the announcement of the golf tournament results.
“This event is so much more than just a golf tournament; it is a wonderful opportunity to make a real impact,” said Aaryn Ling, Head of Branding at BTCC. “Every swing, every donation, and every auction bid helps shape a child’s future. As one of the longest-running crypto exchanges, we believe it is our responsibility to use our platform for good. We are inviting our entire BTCC community to join us in this effort. Together, we can bring hope and create opportunities for those who need it most.”
Looking ahead, BTCC remains committed to social responsibility, with plans to host additional charity events and take part in global initiatives throughout 2025. The community is encouraged to stay updated on upcoming announcements and opportunities to contribute to these charitable efforts.
About BTCC
Established in 2011, BTCC is a leading cryptocurrency exchange offering secure trading services to users worldwide. BTCC is committed to a reliable and user-friendly trading experience, continually evolving with the dynamic cryptocurrency market.
Official Website: https://www.btcc.com/en-US
Contact: [email protected]
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Blockchain Press Releases
Empowering Education in Africa: Bybit and AltSchool Africa Unveil Bybit Academy and $100,000 Scholarship Fund

DUBAI, UAE, March 19, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced its partnership with AltSchool Africa through the launch of a Bybit Academy and a $100,000 scholarship fund. This scholarship will benefit 1,000 AltSchool students, enabling them to access the life-changing power of education. The partnership endeavors to empower the next generation of innovators and leaders by providing accessible, technology-focused education that equips students with the skills needed to thrive in a digital economy.
AltSchool Africa is a global talent company that equips Africans with the knowledge, skills, and resources they need to succeed in their careers. AltSchool Africa offers a diverse range of technical and non-technical diploma programs and short courses across its five schools: Software Engineering, Data, Product, Creative Economy, and Business. To ensure that skilled professionals can access rewarding career opportunities worldwide, AltSchool Africa also provides career counseling, mentorship, recruitment support and job placement services.
As Africa continues to emerge as a vibrant hub for innovation and technology, the need for quality education has never been more pressing. Bybit recognizes that investing in education is a strategic imperative that fosters long-term economic growth and technological advancement in the continent.
Key Highlights of the Initiative:
- Financial Support: Bybit will provide a sponsorship fund of $100,000 to establish the Bybit Academy and offer scholarships for 1,000 students. Students will be selected based on established criteria, including academic performance and diversity.
- Merit and Diversity-Based Criteria: Bybit will collaborate with AltSchool Africa to determine scholarship selection criteria based on entrance exam scores, priority countries, gender diversity, and other mutually agreed factors.
- Internship and Ambassador Opportunities: The top 10 graduates from the program will have the chance to become Bybit Interns, Ambassadors, or ByBUILDERS, fostering their professional growth and integration into the Bybit ecosystem.
- Educational Contributions: Bybit product managers will facilitate sessions on technology and cryptocurrency, enhancing the participants’ learning experience and practical skills.
“Education is a powerful catalyst for change, and Africa’s young population stands to benefit from unprecedented accessibility to technology in this day and age. Through our partnership with AltSchool Africa and the establishment of the Bybit Academy, we are committed to providing opportunities that foster growth, innovation, and resilience. Together, we can cultivate a brighter future for our communities and future-proof Africa’s talent for the digital future,” said Helen Liu, COO of Bybit.
By investing in education, Bybit is sending a powerful message: the future of Africa lies in the hands of its youth. By ensuring that young Africans have access to quality education and opportunities, we can collectively build a prosperous and innovative continent.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
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