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RACE-CAP™ Launches RACE-PAY™, the First of Its Digital Money Apps for Everyone

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RACE-CAP Inc. (“RACE-CAP”), a global blockchain-based solutions developer, today announced the launch of RACE-PAY, the first of RACE-CAP’s apps designed to give the world easier access to digital money (“Money Apps”).

RACE-PAY will simplify the management of both traditional and digital currencies. It is intended to enable anyone with a bank account to send and receive funds, exchange money, and even make investments – all in one app – quickly and securely.  The app will include the ability to send money within an internal chat window in addition to a news and information portal.  Not all features will be available in the initial release, as RACE-CAP is committed to ensuring that it operates in compliance with regulations in the marketplaces it will serve.  Additional features will be added as the product is systematically upgraded.

“The emerging world of digital money is difficult for most people to navigate,” says Arthur Davis, Chairman and CEO of RACE-CAP. “RACE-PAY starts to bridge the gap between the old and new economies.”

With its easy-to-use and intuitive interface, RACE-PAY helps people new to the leading digital currencies transition from traditional to digital assets, so they can participate in the fast-growing new financial reality.

RACE-CAP’s mission is to bring the performance advantages of blockchain technology to individuals and businesses everywhere, by creating global digital Money Apps and a proprietary network to power them.

“I founded RACE-CAP to empower everyone to achieve economic freedom through easy access to the blockchain technologies of the future, based on today’s digital economy,” said Arthur.

“Through the development of a suite of vertically integrated, desktop and mobile-based products and services, RACE-CAP intends to bring ‘Blockchain to Life’™ and aims to set the standard in the blockchain-based digital asset industry.”

RACE-CAP welcomes everyone to register now at www.race-cap.com to be notified as soon as RACE-PAY becomes available for download from the Android and Apple App stores – and learn of other products and services as they become available.

 

SOURCE RACE-CAP

Blockchain

Riot Blockchain Announces September 30, 2019 Quarterly Results

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Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot” or the “Company”) announced the filing of its September 30, 2019 Quarterly Report on Form 10-Q, which can be viewed on the Company’s website or at SEC.gov.

Riot today announced financial results for its period ended September 30, 2019. The Company posted quarterly revenue of $1.7 million and raised a total of $23.6 million through its at-the-market offering (“ATM”) during the nine months ending September 30, 2019.

Q3 Highlights:

  • Generated approximately $1.7 million in revenue on the production of 157.2 bitcoin, and 400.2 litecoin for the quarter. This compares to Q3/18 revenues of $2.3 million on the production of 319.3 bitcoin, and 1,182.2 litecoin. The industry faced continuing increases in the bitcoin difficulty index, increasing 61% during the latest quarter, which negatively affected BTC production and reported revenues.
  • The average price of bitcoin for the latest quarter was $10,382, compared to $8,297 in Q2/19 and $6,856 in Q3/18.
  • Cash and digital currencies as of September 30, 2019 totaled approximately $18.3 million.
  • The Company received gross proceeds from the sale of shares of its common stock under its ATM of approximately $23.6 million at a weighted average sales price of $3.10 per share during the nine months ended September 30, 2019.
  • The Company’s financial position improved across the three and nine months ended September 30, 2019, with the Company reporting working capital of $16.5 million at September 30, 2019 as compared to a working capital deficit of $(4.3) million at December 31, 2018. Total stockholders’ equity also improved to $28.2 million at period end, an increase of $23.7 million over the December 31, 2018 balance.
  • Gross margin percent, computed as mining revenues in excess of cost of revenues (exclusive of depreciation and amortization), improved to 14% from 13% in the three-month periods ended September 30, 2019 and 2018, respectively. Gross margin percent was 18% and 35% in the nine-month periods ended September 30, 2019 and 2018, respectively.
  • Reduction in the Company’s selling, general, and administrative expenses (“SG&A Expenses”) to $1,762,000 in Q3/19, from $5,970,000 in Q3/18, a 70.5% decrease arising from ongoing expense reductions. SG&A Expenses reduced to $7,140,000 from $16,314,000 in the nine-month periods ended September 30, 2019 and 2018, respectively.
  • Net loss in the three-month periods ended September 30, 2019 and 2018, respectively, totaled approximately $(1.8) million and $(6.2) million, or $(0.08) and $(0.46) /share. Net loss in the nine-month periods ended September 30, 2019 and 2018, respectively, totaled approximately $(16.6) million and $(46.6) million, or $(0.93) and $(3.56) /share.

Recent business update and highlights:

Riot has conducted two in-person meetings with its newly established Advisory Board over the past ninety days to begin and advance a dialog covering the Company’s bitcoin mining operations, efficiencies and possible strategic next steps.  Riot previously announced establishment of an Advisory Board comprised of well-recognized creative leaders with a wealth of operational and strategic experience from across the blockchain space including: bitcoin software development, node projects, bitcoin education, start-up advisory, and venture capital/angel investing. The Advisory Board has been established to assist the Company in its strategic mission and enhance shareholder value through the advisors’ industry-leading insights and vast network of innovators and pacesetters.

The previously disclosed Securities and Exchange Commission investigation associated with the subpoena received by the Company in April 2018 is still ongoing, and the Company has been cooperating with the SEC in that investigation.

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Blockchain

Galaxy Digital Serves as Co-Manager of Silvergate’s Initial Public Offering

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Galaxy Digital Holdings Ltd. (TSXV: GLXY; Frankfurt: 7LX) (“Galaxy Digital” or the “Company”) today announced that Galaxy Digital Advisors LLC served as co-manager of Silvergate Capital Corporation’s initial public offering of 3,333,333 shares of its Class A common stock at a public offering price of $12.00 per share.  Silvergate’s common stock trades under the trading symbol “SI” on the New York Stock Exchange.

“Galaxy Digital Advisors is pleased to have served as co-manager of Silvergate’s initial public offering,” said Ian Taylor, Head of Advisory Services at Galaxy Digital.  “We are committed to building long-term relationships with leading companies in the digital asset and blockchain industry and leveraging  our expertise to complete additional offerings for an array of firms going forward.”

 

SOURCE Galaxy Digital Holdings Ltd

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Blockchain

eToroX Adds Dash, USDC, USDT and 5 New Stablecoins

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eToroX, the blockchain subsidiary of global investment platform eToro, has added five new fiat stablecoins, a new cryptoasset, two further established stablecoins and a crypto-commodity pair, signalling its rapid growth, having only launched only six months ago. There are now 26 tradable assets available on the exchange.

The new assets announced today are:

  • Turkish Lira (TRYX), Polish Zloty (PLNX), South African Rand (ZARX), Hong Kong Dollar (HKDX), and Singapore Dollar (SGDX)
  • Peer-to-peer cryptoasset, Dash
  • Circle’s USDC and Tether’s USDT stablecoins
  • GOLDX/BTC pairing

eToroX is committed to supporting the needs of algo traders seeking to diversify into cryptoassets on a secure and regulated platform. These new additions also demonstrate eToroX’s focus on Asian markets.

Doron Rosenblum, Managing Director of eToroX commented, “We see the addition of USDC and USDT as a way for eToroX to further meet the needs of professional and institutional algo traders, particularly in the Asian markets. Adding five new stablecoins, plus the addition of the Dash cryptoasset, demonstrates our ongoing commitment to bridge the gap between the world of blockchain and traditional financial markets.”

GoldX – the tokenized gold stablecoin – is now available as a base currency for a trading as a pair with Bitcoin (GOLDX/BTC). Increasingly, bitcoin is being compared with gold as a store of value. Gold is viewed as a safe haven asset, and bitcoin is increasingly being referred to as ‘digital gold’.

Rosenblum continued: “Our Gold/Bitcoin pair provides a means to trade between the old and the new stores of value, making Gold/BTC an extremely special and interesting combination.

With today’s new additions, eToroX has added a total of 96 trading pairs since its inception in April this year, and currently offers seventeen eToroX stablecoins in addition to USDC and USDT.

The pairs include: USDEX/ZARX, ZARX/JPYX, EURX/PLNX, USDEX/PLNXUSDEX/HKDXUSDEX/TRYXUSDEX/SGDXETH-USDTXRP-USDTLTC-USDTBCH-USDTXLM-USDTEOS-USDTTRX-USDTBTC-USDCETH-USDCXRP-USDCLTC-USDCBCH-USDCXLM-USDCEOS-USDC, and TRX-USDC.

As eToroX continues to open up the world of trading on the blockchain, more trading pairs will be announced. eToroX will also be adding additional cryptoassets and stablecoins to the exchange in the coming months.

 

SOURCE eToro

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