SINGAPORE, July 2, 2024 /PRNewswire/ — In support of a more efficient and user-friendly DeFi market, HTX Ventures, the global investment arm of the cryptocurrency exchange HTX, has announced a strategic investment in RedStone. RedStone is one of the fastest-growing modular oracles in 2024 that delivers diverse, high-frequency data feeds to EVM Layer1, Layer2, Rollup-as-a-Service networks, and beyond, including Starknet, Fuel Network, and TON.

RedStone’s modular nature enables it to provide data feeds that are unavailable elsewhere, specializing in yield-bearing collateral for lending markets, especially LSTs and LRTs. Its modular pricing engine ensures the highest accuracy and relevance by consistently updating. Moreover, RedStone is chain-agnostic, meaning it can push data to numerous EVM and non-EVM ecosystems, rollups, and various app chains. This makes it an ideal partner for Rollup-as-a-Service providers and Eigenlayer AVSes. Currently, RedStone’s Total Value Secured (TVS) has grown to $4 billion, expanded to over 60 chains, and served more than 100 clients such as EtherFi, Pendle, Morpho and Ethena.

RedStone recently closed its $15 million Series A round, led by Arrington Capital. The funds will be used to expand the Marketing and Business Development divisions, fueling an extensive Q3/Q4 growth pipeline. RedStone is currently testing Oracle Extractable Value (OEV) implementation, scheduled for trial with customers in the coming months, and preparing for the launch of its native token later this year.

“RedStone is introducing an exciting advancement to DeFi with its modular design,” said Edward, Managing Partner at HTX Ventures. “DeFi users will benefit from new and precise data feeds, as well as push and pull data services. RedStone’s chain-agnostic feature allows it to provide services across various layers. At HTX Ventures, we are thrilled to witness new innovations within the oracle space and are eager to collaborate on building better infrastructure and tools for DeFi.”

Jakub Wojciechowski, CEO of RedStone Oracles, commented, “This Series A round gives us ample financial runway to broaden our suite of services while bringing reliable real-world data to a host of blockchain-based protocols. Sincere thanks to our investors and community for their fervent support, and believe me when I say – we are just getting started.”

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RedStone is also preparing for the upcoming launch of Season 2 of RedStone Expedition – an interactive community engagement initiative giving participants the chance to accumulate RSG (RedStone Gems) points through a diverse array of activities. Interested parties can sign up here: RedStone Expedition.

About RedStone

RedStone is a modular oracle delivering diverse, high-frequency data feeds to EVM Layer1, Layer2, Rollup-as-a-Service networks, and beyond, i.e., Starknet, Fuel Network, or TON. By responding to market trends and developer needs, RedStone can support assets not available elsewhere. The modular design allows for data consumption models adjusted to specific use cases, i.e., capital-efficient LSTfi and early support of LRTs. Trusted by Pendle, Morpho, Venus, Ethena, ether.fi & more.

About HTX Ventures:

HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice.

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HTX Ventures currently backs over 300 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most active Fund of Funds (FOF) investors, HTX Ventures collaboratively forges the blockchain ecosystem alongside premier global blockchain funds, including Dragonfly, Bankless, Gitcoin, Figment, and Animoca. Visit us here.

Contact Details
EE
[email protected]

Company Website
https://www.htx.com/ventures 

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View original content:https://www.prnewswire.co.uk/news-releases/htx-ventures-invests-in-redstone-oracles-to-expand-modular-defi-infrastructure-302188187.html

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SINGAPORE, July 2, 2024 /PRNewswire/ — With the increasing chance of a rate cut in September and the spot cryptocurrency market entering a consolidation phase, the crypto space is setting the stage for the next eye-popping surprise. HTX, the giant cryptocurrency exchange, has announced the upgrade of its Broker Program rules in a timely manner, which will take effect from July 1, providing more flexible trading commission models for its broker partners.

Become an HTX Broker and Earn up to 65% Commissions

Partnerships with brokers are something the globally leading exchanges always attach great importance to. That is why HTX launched its Broker Program in 2021. Currently, more than 100 cryptocurrency brokers are partnering with HTX, contributing to approximately 10% of its trading volume and user base outside the Chinese mainland.

The upgrade of HTX’s Broker Program will bring the following updates on its rules:

1. HTX Brokers can receive up to 30% of referral commissions from their traders with referral relationships.

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	Allocation of Referral Commissions from Traders Referred by Other Users
Before	100% of referral commissions are given to inviters.
After	Up to 30% of referral commissions for brokers; 70% for inviters. Advertisement

2. HTX Brokers can receive up to 65% commissions from their traders with Prime levels below 7. The commission rate for brokers varies based on their traders’ Prime levels.

	Prime Level of Traders Contributing to Broker Commissions
Before	Spot: Prime level 0-5; Futures: Prime level 0-4
After Advertisement	Spot & Futures: Prime level 0-6

Commissions are settled once a day (i.e. Day T) and distributed on the following day (i.e. Day T+1). Commissions are settled in USDT by default. However, if the order uses $HTX deduction, the commission will be settled in $HTX.

For commission rule details, please contact: [email protected]
Become an HTX Broker: https://www.htx.com/broker
Promotion details: https://bit.ly/3xw3dRU

Develop Win-Win Partnerships with HTX: Safer and More Sincere

HTX wholeheartedly welcomes more qualified brokers to join the program, including API brokers and exchange brokers. Privileges for HTX Brokers include:

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• High Commission: Earn up to 65% commissions
• Marketing Boost: Enjoy promotions via various social media channels with 600 million media exposures
• Personalized API Support: Get customized API services for qualified brokers
• 24/7 Tech Support: Get your issues solved anywhere and anytime
• Fast Response: Enjoy lower latency with HTX-AWS and HTX-COLO
• WebSocket API Support: Applicable to all trading pairs in a 5-level / 20-level MBP incremental channel

More excitingly, according to HTX, applying to become an HTX Broker now can grant you double benefits, i.e. immediate access to the broker privileges at level 4 (the highest), and free of assessment for the first 6 months. You are only 4 easy steps away from being part of the HTX Broker Program:

Step 1: Create an HTX account and complete KYC verification. Please note exchange brokers need to sign up for an HTX account for institutions.
Step 2: Submit the application form. Provide your information online and the HTX team will contact you within 1-2 working days (Your information is kept strictly confidential).
Step 3: Get your broker ID. HTX will create a broker ID for you and set up your commission rate in the system.
Step 4: Trading test. Perform a test trade to finalize your integration and check your commissions in the broker dashboard.

As a one-stop trading platform, HTX is equipped with an independently developed crypto trading system, industry-leading trading technology, and robust security technology and measures against hacking. Trading on HTX is secure, and you can enjoy a user-friendly trading experience, a wide range of products, and a robust risk management system. HTX will continue to provide global users with friendly, secure, and reliable cryptocurrency trading and asset management services.

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View original content:https://www.prnewswire.co.uk/news-releases/htx-to-upgrade-broker-program-rules-offering-more-flexible-commission-model-and-limited-time-benefits-302188100.html

The U.S. branch of Binance, a leading global cryptocurrency exchange, is bracing for the next stage in its legal battle with the Securities and Exchange Commission (SEC). The clash centers on allegations of securities law violations, which Binance.US staunchly denies.

In June 2023, the SEC initiated legal proceedings against Binance Holdings Ltd., BAM Trading Services, BAM Management U.S., and CEO Changpeng Zhao. The SEC claims that these entities mishandled customer assets, violating U.S. securities laws. In response, Binance.US asserts it has operated within the limited guidance provided by the SEC, maintaining compliance with regulations. The company highlights its commitment to customer safety, maintaining a 1:1 reserve for all customer assets, and implementing stringent compliance and risk management measures.

However, Binance.US criticizes the SEC for “regulation by enforcement,” particularly under the leadership of Chairman Gary Gensler. Despite the allegations, Binance.US remains confident in its defense, challenging the SEC’s evidence and legal basis for the action. The company expects the Court to support its position, dismissing the SEC’s claims as legally and factually unfounded. Binance.US reassures its users of normal operations and the continuation of scheduled feature releases despite the ongoing legal proceedings.

This dispute between Binance.US and the SEC highlights broader regulatory tensions within the U.S. cryptocurrency market. Recent crackdowns by the SEC have intensified these frictions, leading to significant legal confrontations between regulatory bodies and crypto exchanges. As Binance.US prepares for its legal confrontation with the SEC, the outcome of this case could have substantial implications for the cryptocurrency industry in the U.S. The company’s strong defense and commitment to compliance may set a precedent for how crypto exchanges navigate regulatory challenges in the future.

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Source: cryptotimes.io

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