Blockchain Press Releases

INX Closes Initial Investment Phase with Republic; Partnership Set to Deepen and Accelerate

Published

1 year ago

August 18, 2023

inx-closes-initial-investment-phase-with-republic;-partnership-set-to-deepen-and-accelerate

INX and Republic Double Down on Commitment to Transform Global Digital Asset Space

TORONTO, Aug. 18, 2023 /PRNewswire/ — The INX Digital Company, Inc. (NEO: INXD, INXATS: INX, OTCQB: INXDF) (“INX”), a US-regulated broker-dealer, ATS, and transfer agent (via its wholly owned subsidiaries), announced today the successful closing of the initial investment by OpenDeal Inc. (dba Republic) (“Republic”), pursuant to the Subscription Agreement between INX and Republic dated June 15, 2023. Republic, a global financial firm operating a digital merchant bank and a network of investment platforms, has officially acquired 9.5% of INX’s issued and outstanding shares with a US$5.25 million investment which will be paid to INX in combination of cash and Preferred B Shares of Republic, reflecting a pre-money valuation for INX of approximately US$50 million.

With this significant milestone achieved, both entities are geared to further their collaboration (pursuant to the Collaboration Agreement dated June 15, 2023, between INX and Republic), aiming to broaden the horizons of tokenization infrastructure and democratize access to digital assets on an international scale. At the closing of the investment, INX and Republic intend to enter into a prospective non-binding term sheet in connection with the purchase of all the issued and outstanding share capital of INX on a fully diluted basis by Republic in consideration for an amount of up to US$120 million.

“This is more than just a business investment; it’s an investment in the future, which begins with a deep-rooted collaboration to reshape the global financial landscape. Having successfully integrated Republic’s initial investment, we are now looking forward to jointly harnessing our expertise to push the boundaries of what’s possible in the digital economy,” remarked Shy Datika, INX CEO.

Echoing this sentiment, Kendrick Nguyen, CEO of Republic, expressed, “Our initial investment in INX is just the starting point. As we move forward together, we’re not just aiming for growth, but for a complete rethink of how investors participate in digital finance, be they institutional or retail.”

The Republic & INX collaboration includes the Subscription Agreement, which enables a synergy of cash and shares, and a Collaboration Agreement, which propels both parties to democratize finance and foster economic expansion by:

INX’s tokenized asset services, ensuring they are available for secondary market trading on the round-the-clock INX ATS.
Seamlessly blending INX’s holistic trading mechanisms for pivotal digital assets, such as Bitcoin and Ethereum, with Republic’s expansive ecosystem.
Merging Republic’s FX broker-dealer prowess into the INX infrastructure.
Enlisting the Republic Note on the INX ATS and integrating the INX trading platform with the comprehensive Republic Wallet

Copies of the Subscription Agreement and Collaboration Agreement have been filed on the Company’s profile at www.Sedar.com. For more information about INX and its novel trading and capital-raising financial instruments for enterprises and companies worldwide, visit https://www.inx.co/.

INX has engaged Weild Capital, LLC (“WCL“) to act as its financial advisor, including in connection with the Republic investment. Pursuant to that engagement, WCL was paid a retainer fee of US$90,000 and will be paid a cash fee of US$288,750 (equal to 5.5% of the aggregate purchase price paid by Republic), and 661,452 share purchase warrants (equal to 3.0% of the shares issued to Republic). Each share purchase warrant is exercisable into one share at a price of US$0.2381. David Weild, the principal of WCL, is the chairman of the INX board. The engagement of WCL is a “related party transaction” for purposes of Multilateral Instrument 61-101 – Protection of Minority Interests in Special Transactions (“MI 61-101“), but is exempt from the minority approval and formal valuation requirements under MI 61-101 pursuant to sections 5.5(a) and 5.7(a) thereof. INX expects to release a material change report which will be filed less than 21 days prior to closing of the Republic investment, which INX believes reasonable in the circumstances because the engagement of WCL is on arm’s length terms and was previously disclosed in INX’s March 31 and June 30 financial statements and MD&A.

About INX:
INX provides regulated trading platforms for digital securities and cryptocurrencies. With the combination of traditional markets expertise and a disruptive fintech approach, INX provides state-of-the-art solutions to modern financial problems. INX is led by an experienced and dedicated team of business, finance, and technology veterans with the shared vision of redefining the world of capital markets via blockchain technology and a disciplined regulatory approach.

About The INX Digital Company, Inc.: INX is the holding company for the INX Group, which includes regulated trading platforms for digital securities and cryptocurrencies. The INX Group’s vision is to be the preferred global regulated hub for digital assets on the blockchain. The INX Group’s overall mission is to bring communities together and empower them with financial innovation. Our journey started with our initial public token offering of the INX Token in which we raised US$84 million. The INX Group is shaping the blockchain asset industry through its willingness to work in a regulated environment with oversight from regulators like the SEC and FINRA.

In addition to operating two regulated trading platforms for blockchain assets, INX’s interdealer broker, I.L.S. Brokers, plans to offer non-deliverable cryptocurrency forwards to Tier-1 banks in the future. For more information, please visit the INX Group website here.

About Republic:
Headquartered in New York City, Republic is a global financial firm operating an enterprise-focused digital merchant bank and a network of multi-jurisdictional retail-focused investment platforms. Backed by Valor Equity Partners, Galaxy Interactive, Morgan Stanley, Hashed, AngelList and other leading institutions, Republic boasts a portfolio of over 1500 companies and a community of nearly 3M members from over 100 countries. More than $2 billion has been deployed through investment platforms, funds, and firms within the Republic family of companies. Republic has established operations in the US, the UK, the UAE, South Korea, and Singapore.

Cautionary Note Regarding Forward-Looking Information and Other Disclosures
This press release contains statements that constitute “forward-looking information” (“forward-looking information“) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses 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. In disclosing the forward-looking information contained in this press release, INX has made certain assumptions, including with respect to, the continuous development of the INX trading platform, the completion of the transactions described herein, the offering of non-deliverable cryptocurrency forwards, and the development of the digital asset industry. Although INX believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include but are not limited to regulatory developments, the state of the digital securities and cryptocurrencies markets, and general economic conditions. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, INX disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.

Neo Exchange is not responsible for the adequacy or accuracy of this press release.‍
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.‍

For further information, contact:
The INX Digital Company, Inc.
Investor Relations
+1 855 657 2314
Contact: Alan Silbert
Email: [email protected]

For more information, contact:
Liz Whelan
[email protected]
(312) 315-0160

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Blockchain Press Releases

Canaan Introduces Revolutionary Bitcoin Mining Heaters for Home and Personal Use in CES 2025

Published

2 days ago

January 8, 2025

CISION (PR Newswire)

canaan-introduces-revolutionary-bitcoin-mining-heaters-for-home-and-personal-use-in-ces-2025

LAS VEGAS, Jan. 7, 2025 /PRNewswire/ — Canaan INC (NASDAQ: CAN), a leading blockchain hardware manufacturer, today announced the launch of the Avalon Mini 3 and Nano 3S in Las Vegas, CES. The two innovative Bitcoin mining devices are designed to democratize cryptocurrency mining for individuals and turning a home heating system into a crypto mining device.

Product Innovation

Canaan is redefining home cryptocurrency mining with two groundbreaking devices. The Avalon Mini 3, with a Hashrate of 37.5Th/s, offers a unique dual-purpose solution, combining efficient Bitcoin mining with home heating. The app-controlled operation and sleek, quiet design, provides a remarkably easy-to-use, energy-efficient solution for mining newcomers and enthusiasts.

The Avalon Nano 3S, which is upgraded from the widely-welcomed Avalon Nano 3, with a Hashrate of 6Th/s, complements this offering as an affordable, beginner-friendly Bitcoin mining device. Its compact and portable design alongside its low power consumption makes it ideal for individual users while supporting the broader goal of Bitcoin network decentralization.

Reimagining Technology Efficiency

The Avalon Mini 3 can simultaneously mine Bitcoin and warm living spaces, offering homeowners a unique way to offset energy costs and reduce environmental impact. This device gives users innovative access to heat recycling, turning the computational work of Bitcoin mining into a dual-purpose solution that provides both digital currency and home comfort.

“We are committed to making Bitcoin mining accessible to everyone,” said NG Zhang, CEO and founder of Canaan. “The Avalon Mini 3 and Avalon 3S represent our vision of user-friendly, practical mining solutions for the modern individual. We’re reimagining how technology can create value while minimizing environmental waste. The Avalon Mini 3’s ability to generate cryptocurrency while heating your home is a perfect example of our vision for sustainable, multi-purpose technology.”

Availability

Preorder Now at https://canaan.io/avalonhome

During the preorder period till the end of February 2025, the price for Avalon Nano 3S is USD249 and Avalon Mini 3 is USD899 while supplies last.

About Canaan Inc.

Canaan Inc. (NASDAQ: CAN), is a technology company focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. In 2013, under the leadership of Mr. Nangeng Zhang, founder and CEO, Canaan’s founding team shipped to its customers the world’s first batch of mining machines incorporating ASIC technology in Bitcoin’s history under the brand name Avalon.

Website: canaan.io
Media Contact: [email protected]
Telegram Group Official: https://t.me/Canaanio
X.com: https://x.com/canaanio

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Blockchain Press Releases

Bybit Joins AI Coin Revolution with AI16Z Listing

Published

2 days ago

January 7, 2025

CISION (PR Newswire)

bybit-joins-ai-coin-revolution-with-ai16z-listing

DUBAI, UAE, Jan. 7, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has added the trending Solana-based AI token, AI16Z, to Bybit Spot on Jan. 6, 2025. The official listing came on the heels of AI16Z’s success on ByVotes, and was followed by a 24-hour gain of 47% after listing on Bybit.

AI16Z was the first ByVotes project to have garnered vast community support for Spot Listing on Bybit in 2025. Since the revamp of the platform, ByVotes has attracted a wave of quality projects from the niche to the high profile. Under the new mechanisms, the Bybit community now has a direct impact on choosing projects for listing on the exchange by casting their votes of confidence via ByVotes. A number of fan favorites made their mark on ByVotes in the past year, including AI-themed LUNAI with a record number of 512 million votes, and other iconic memecoins such as CHILLGUY, LUCE, NEIROCTO, and HPOS10I.

Users may still unlock exclusive rewards trading AI16Z on Bybit Spot in two events: Token Splash and Puzzle Hunt, each with a 50,000 AI16Z prize pool. The token attracted over 72,000 Bybit users in the pre-listing round of community votes on ByVotes, and received some 300,000,000 votes in the two-day voting period.

AI16Z on Bybit Spot

Bybit users have the opportunities to get more out of their AI16Z trades on Bybit:

AI16Z Token Splash: the newly listed token comes with a 50,000 AI16Z prize pool for both new and seasoned traders. From now to Jan. 20, 2025, the first 3,500 eligible new users to successfully complete two simple tasks will receive 10 AI16Z each. In addition, existing users stand to earn up to 1,000 AI16Z by trading the token.
AI16Z Puzzle Hunt: A new puzzle hunt for 50,000 AI16Z has kicked off on Bybit. From now to Jan. 21, Bybit users may earn or exchange puzzle pieces for a chance to win from the lucky draw, and the luckiest first 200 users to complete the entire puzzle will get to claim 50 AI16Z.

Registration is required for both events, terms and conditions apply. AI16Z are also available for trades via Bybit Spot Grid Bots.

Since Dec. 25, 2024, the native token of the world’s first investment DAO led by AI agents has doubled in market cap after the listing, well past the $2 billion mark as of this week. Leading the way as blockchain’s decentralized answer to traditional VC, the DAO fuses AI’s advanced power with crypto’s meme culture to raise the bar for intelligent decentralized governance. Powered by the Eliza Framework, the face of the ai16z is AI Marc who is a brainchild of Marc Andreessen.

#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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Blockchain Press Releases

Get Ready for Bybit’s ‘Keynote with Ben’ Livestream: Unveiling 2025 Vision and Exclusive Prize Pool

Published

2 days ago

January 7, 2025

CISION (PR Newswire)

get-ready-for-bybit’s-‘keynote-with-ben’-livestream:-unveiling-2025-vision-and-exclusive-prize-pool

DUBAI, UAE, Jan. 7, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is gearing up to captivate audiences with its highly anticipated livestream event, Keynote with Ben: In the Driving Seat to the Moon — Beat the Unknown. The event promises to spotlight Bybit’s remarkable journey, its vision for 2025 and beyond, and a series of groundbreaking innovations that redefine the digital finance landscape.

Scheduled for Jan. 21, 2025, at 8 a.m. UTC, the livestream will feature Bybit’s CEO Ben Zhou delivering insights into the future of Web3, Bybit’s ecosystem expansion, and pioneering advancements in wealth management. With a commitment to shaping the next era of decentralized finance, Bybit aims to inspire and inform both its loyal community and newcomers alike.

Exciting Rewards Await

In conjunction with the keynote, Bybit is launching an exclusive campaign running from now to Jan. 21, 2025. Participants have the opportunity to win a share from a generous 5,250 prize pool in combined rewards, including tokens and P2P coupons. The rewards will be distributed through various activities:

New User Exclusive: New users who sign up and subscribe to the event early can claim a 5 USDT reward on top of Bybit’s 20 USDT sign-up bonus. This offer is limited to the first 150 participants.
Spread the Word: By sharing the livestream link on social media and submitting proof of their posts, 100 lucky participants will receive a 5 USDT spot airdrop.
Trade and Win During the Livestream: Participants who trade at least 50 USDT during the livestream can share a 3,300 CHILLGUY prize pool, while new users depositing 100 USDT or more will compete for a 200 GRASS token prize pool.
Ask and Earn: By submitting thought-provoking questions through the livestream page, 25 standout participants will win 20 USDT P2P coupons, sharing a total prize of $500.

Unveiling a Bullish Vision

Bybit’s 2025 roadmap includes ambitious milestones and transformative strategies designed to empower its users in the evolving Web3 ecosystem. Attendees of the keynote can expect firsthand insights into the company’s accomplishments and its forward-looking initiatives.

The keynote will feature a retrospective on Bybit’s significant milestones achieved in 2024, the unveiling of new ecosystem expansions, and an exploration of cutting-edge Web3 innovations. Additionally, attendees can look forward to announcements about advanced wealth management solutions designed to empower users in a decentralized future.

Bybit invites its community and beyond to join this milestone event, where vision meets action, and opportunities for rewards are plentiful. While the livestream is sure to inspire, the accompanying campaign ensures tangible benefits for those participating in Bybit’s ongoing journey to the moon.

#Bybit / #TheCryptoArk / #BybitLivestream

About Bybit

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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