Blockchain Press Releases
HTX Ventures Invests in RedStone Oracles to Expand Modular DeFi Infrastructure
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.”
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.
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
Photo – https://mma.prnewswire.com/media/2452999/HTX_Ventures.jpg
Logo – https://mma.prnewswire.com/media/2391903/image_ID__Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/htx-ventures-invests-in-redstone-oracles-to-expand-modular-defi-infrastructure-302188187.html
Virgin Galactic Holdings, Inc. (NYSE) has successfully regained compliance with the New York Stock Exchange’s (NYSE) minimum share price requirements, as detailed in a recent 8-K filing. The space tourism company had previously received a notice of non-compliance due to its stock price falling below the NYSE’s minimum average closing price of $1.00 over a 30-day period.
Strategic Response and Compliance
The compliance notification, received on July 1, 2024, followed Virgin Galactic’s strategic move on June 14, 2024, when the company implemented a 1-for-20 reverse stock split. This corporate action raised the price per share, allowing Virgin Galactic to meet the NYSE’s continued listing standards. Trading on a split-adjusted basis began on June 14, effectively addressing the share price deficiency that prompted the initial NYSE warning on May 29, 2024.
Virgin Galactic’s proactive measures have successfully brought its stock back in line with NYSE requirements. The NYSE confirmed this compliance in a letter dated July 1, 2024. As a result, Virgin Galactic is now in compliance with all NYSE continued listing standards, providing reassurance to investors and stakeholders about the company’s market position and financial stability.
Recent Developments and Partnerships
In other news, Virgin Galactic has announced a partnership with the International Institute for Astronautical Sciences (IIAS) to launch three research astronauts on a future mission aboard the company’s Delta Class spaceship. This mission aims to build on previous research studying fluid behavior in microgravity, crucial for developing future medical technologies and life support systems.
Additionally, SpaceX’s Starship rocket recently embarked on its fourth test flight from South Texas. This test, part of SpaceX’s “test-to-failure” approach, aims to push each prototype further, ultimately ensuring the rocket’s capability to withstand re-entry heat through Earth’s atmosphere. The success of Starship is crucial for NASA’s planned 2026 lunar mission.
InvestingPro Insights
Virgin Galactic Holdings, Inc. has navigated through a challenging period to re-establish compliance with NYSE’s minimum share price requirements. The reverse stock split was a pivotal move in maintaining its listing status. While this adjustment has addressed immediate concerns over share price, broader financial health and market sentiment towards SPCE remain critical considerations.
InvestingPro data highlights several key metrics for investors. As of Q1 2024, Virgin Galactic’s market capitalization stands at $163.31 million. Despite a substantial revenue growth of 251.91% during the past year, the company faces a negative gross profit margin of -767.52%, reflecting high costs associated with its pioneering space tourism business. Additionally, the stock is trading at a low Price/Book multiple of 0.39, suggesting potential undervaluation relative to the company’s assets.
From an investment perspective, two InvestingPro Tips offer deeper insights. Virgin Galactic holds more cash than debt on its balance sheet, a positive indicator of financial stability providing some cushion against operational risks. However, the company is quickly burning through cash, raising concerns about its long-term sustainability without additional funding or revenue streams. Furthermore, the stock price has experienced significant volatility, with a price total return of -89.47% over the past year, emphasizing the speculative nature of investing in this sector.
For investors considering Virgin Galactic’s future prospects, there are 21 additional InvestingPro Tips available that provide further guidance on the stock’s potential. These tips cover various factors, from sales forecasts to stock price volatility. For the most comprehensive insights, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro or a yearly or biyearly Pro+ subscription, offering a valuable resource for informed decision-making in this high-stakes industry.
This article was generated with the support of AI and reviewed by an editor. For more information, see our T&C.
Source: in.investing.com
The post Virgin Galactic regains NYSE compliance with stock price appeared first on HIPTHER Alerts.
Tivic Health Systems, Inc., a company specializing in electromedical and electrotherapeutic apparatus, has been notified by the Nasdaq Stock Market LLC of its non-compliance with the exchange’s minimum bid price requirement. This notice, dated June 28, 2024, was triggered after the company’s common stock closing bid price remained below $1.00 per share for 33 consecutive business days.
Current Status and Next Steps
Despite the notice, Tivic Health’s stock will continue to be listed on the Nasdaq Capital Market with no immediate impact on its trading status. The company, which trades under the ticker NASDAQ
, has until December 26, 2024, to comply with the minimum bid price requirement. Compliance can be achieved if the stock’s closing bid price reaches or exceeds $1.00 per share for at least 10 consecutive business days before the deadline.
If Tivic Health does not meet this requirement by December 26, the company may be eligible for an additional 180-day grace period. This extension is contingent on meeting other market value and listing standards, as well as notifying Nasdaq of its intent to address the bid price deficiency.
Based in Fremont, California, and incorporated in Delaware, Tivic Health has indicated that it will closely monitor its stock’s closing bid price and explore various options to regain compliance. However, if the company fails to rectify the situation within the allotted timeframe, including any extension, it risks being delisted from the Nasdaq Capital Market. Tivic Health would then have the right to appeal the decision before a Nasdaq hearings panel.
Public Offering Announcement
In recent developments, Tivic Health Systems has announced the terms for a public offering aimed at raising approximately $4 million. This offering includes around 4.7 million shares of common stock, accompanied by Series A and Series B warrants for additional shares, each priced at $0.85. The closing of this offering is anticipated around May 13, 2024, subject to standard closing conditions, with Maxim Group LLC (NASDAQ
) acting as the sole placement agent. The proceeds will support Tivic Health’s ongoing product development and business strategies.
Financial Insights and Market Performance
According to InvestingPro, Tivic Health Systems Inc. faces significant challenges, reflected in its market capitalization of just $2.31 million and a 52-week low trading price of $0.37 per share. Over the past year, the stock has experienced a substantial decline of 96.41%.
InvestingPro’s analysis reveals a mixed financial landscape for Tivic Health. Positively, the company holds more cash than debt and its liquid assets exceed short-term obligations, suggesting a degree of financial stability. Analysts also forecast sales growth in the current year, indicating potential for recovery. However, the company is not expected to be profitable this year and is rapidly burning through cash, raising concerns about its long-term sustainability. Additionally, the stock’s high price volatility implies that investors could face significant fluctuations.
For those interested in a more comprehensive evaluation of Tivic Health’s investment potential, InvestingPro offers further insights and data points. By using the exclusive coupon code PRONEWS24, readers can access these resources and save up to 10% off a yearly Pro or a biyearly Pro+ subscription, with 16 additional InvestingPro Tips available for a deeper analysis of Tivic Health Systems Inc.
This article was generated with the support of AI and reviewed by an editor. For more information, see our T&C.
Source: in.investing.com
The post Tivic Health receives Nasdaq non-compliance notice appeared first on HIPTHER Alerts.
MAG, a prominent real estate developer in the UAE, has entered a groundbreaking partnership with Mantra, an institutional-grade Layer 1 blockchain platform specializing in tokenized Real-World Assets (RWAs). This collaboration aims to tokenize $500 million of MAG’s extensive real estate portfolio, valued at over $5 billion, revolutionizing real estate investment through advanced blockchain technology.
Initial Projects and Objectives
The partnership will commence with the tokenization of MAG’s Keturah projects, including Keturah Reserve in Meydan, Dubai, and Keturah Resort at Dubai Creekside. These projects will introduce a real estate financing vault on Mantra’s compliance-ready Layer 1 blockchain, offering investors a secure and innovative way to invest in real estate.
Real Estate Financing Vault
The real estate financing vault will be structured in multiple tranches, with an aggregate transaction value of $500 million. This vault product is designed to attract investors with:
- Yield in Stablecoins and $OM Tokens: Investors can expect an approximate return of 8% APY in stablecoins, supplemented by yields in $OM tokens.
- Over-Collateralization: The initial vault will be over-collateralized by a $75 million mega mansion at ‘The Ritz-Carlton Residences, Dubai, Creekside,’ part of the Keturah Resort.
- Investor Protection: Backed by MAG’s corporate credit, ensuring robust investor protection.
Strategic Impact
Talal Moafaq Al Gaddah, CEO of MAG Lifestyle Development, emphasized the strategic importance of this collaboration, stating: “Working with Mantra allows us to leverage cutting-edge blockchain technology to enhance the value and accessibility of our real estate offerings. This strategic collaboration is pivotal and forward-facing as we continue to innovate and lead in luxury real estate development.”
John Patrick Mullin, CEO and Founder of Mantra, highlighted the significance of the partnership: “Partnering with MAG represents a major milestone in our mission to bridge blockchain with tangible assets, with a special focus on the Middle East. This venture will set new standards in real estate tokenization, offering global investors access to premium real estate assets in the UAE.”
Future Prospects
The collaboration between MAG and Mantra not only sets a precedent in the Middle East’s real estate market but also paves the way for more widespread adoption of blockchain technology in real estate investment globally. By integrating blockchain’s transparency, security, and efficiency, this partnership aims to:
- Enhance investor confidence and accessibility.
- Provide a diversified investment opportunity.
- Lead the industry in innovative real estate development and investment strategies.
This strategic move by MAG and Mantra showcases the potential of blockchain technology in transforming traditional real estate investment and highlights the evolving landscape of real estate financing through tokenization.
Source: tradearabia.com
The post MAG partners with Mantra to tokenise $500m in realty assets appeared first on HIPTHER Alerts.
-
Blockchain Press Releases6 days agoBitget Wallet Announces Investment in New Asset Trading Platform Tomarket, Targeting Trillion-Dollar Markets Beyond DEXs
-
Blockchain6 days agoAlgorand celebrates 5th anniversary with 2 billion transactions and record adoption of real-world use cases at annual Decipher conference
-
Blockchain Press Releases6 days agoBitget to Launch Social Campaign in Vietnam to Warn About Crypto Scams and Risks
-
Blockchain Press Releases2 days agoHTX to Upgrade Broker Program Rules, Offering More Flexible Commission Model and Limited-time Benefits
-
Blockchain6 days agoCryptoSafe Unveils Safe Pay: A Game-Changer in Cryptocurrency Payment Solutions
-
Blockchain1 day ago
Tether, the largest stablecoin issuer by market capitalization, is expanding its presence in Turkey through a new collaboration aimed at exploring various tokenization use cases among Turkish financial lenders. In a recent blog announcement, Tether revealed that it has signed a Memorandum of Understanding (MoU) with the crypto consultancy firm BTguru to develop comprehensive programs and leverage BTguru’s connections to facilitate discussions with financial institutions in Turkey. The collaboration will primarily focus on asset tokenization, exploring real-world asset tokenization use cases for banks. This initiative aims to harness the benefits of tokenization to enhance the efficiency and transparency of financial transactions. Real-world asset (RWA) tokenization could potentially allocate trillions of U.S. dollars. Analysts at McKinsey & Company estimate that the sector’s market capitalization could reach approximately $2 trillion by 2030 under a base scenario. This partnership coincides with significant regulatory developments in Turkey. Turkish President Recep Tayyip Erdoğan recently signed a new bill into law that regulates the crypto industry and outlines penalties for non-compliance. Crypto exchanges seeking to operate legally in Turkey must obtain a license from the Capital Markets Board, the country’s financial regulatory and supervisory agency. Unauthorized crypto platforms offering trading services could face prison sentences of three to five years. Additionally, the new law imposes fines ranging from $7,500 to $182,600 and mandates that crypto providers implement and report measures such as seizures and other legal enforcement actions. The collaboration between Tether and BTguru reflects a strategic move to align with Turkey’s evolving regulatory landscape while fostering innovation in the financial sector. By focusing on tokenization, Tether aims to provide Turkish banks with advanced tools to tokenize real-world assets, potentially transforming traditional banking practices and enhancing compliance with new regulations. This initiative not only positions Tether at the forefront of financial innovation in Turkey but also sets a precedent for other crypto firms looking to navigate complex regulatory environments. As Tether deepens its engagement with Turkish financial institutions, the move could encourage broader adoption of blockchain technology in traditional finance, thereby fostering a more integrated and compliant digital asset ecosystem. The strategic partnership with BTguru and the proactive approach to regulatory compliance underscore Tether’s commitment to expanding its global footprint while adhering to local laws and promoting the benefits of asset tokenization in the financial sector.
-
Blockchain1 day ago
SPIN.FASHION joins peaq to turn 1M+ art and luxury items into next-gen phygital NFTs with smart ID tags
-
Blockchain Press Releases2 days agoPeach Tech and Orient Asset Management (Hong Kong) Limited Forge Strategic Partnership to Bridge Traditional Finance and Web3
