Blockchain
8i Enterprises Acquisition Corp. Announces Execution of Share Exchange Agreement with Diginex Limited
8i Enterprises Acquisition Corp. (NASDAQ: JFK) (“JFK” or “8i”), a special purpose acquisition company, today announced that it has entered into a definitive share exchange agreement with Diginex Limited (“Diginex” or the “Company”), a global blockchain financial services and technology company headquartered in Hong Kong. Upon completion of the transaction, Diginex is anticipated to have an initial enterprise value of approximately $276 million[1].
Headquartered in Hong Kong with a presence in Tokyo, London, Boston, Dubai, Lausanne and Berlin, Diginex provides an ecosystem to enable the broader adoption of digital assets across financial markets through three interlocking pillars: (i) Advisory – capital markets origination and distribution of securities via digital assets; and broader blockchain solutions for corporate and financial industry institutions, as well as governments (ii) Markets – a full infrastructure for digital assets exchange trading and custody, and (iii) Asset Management – providing an accessible and credible on-ramp into digital assets for institutional allocators of capital. In furtherance of its focus on global collaboration, Diginex is developing partnerships with institutional investors, corporations, and governments to improve the efficiency and security of business processes while driving institutional adoption of blockchain technologies and the regulated use of digital assets.
James Tan, Chairman and Chief Executive Officer of JFK, commented, “The execution of the share exchange with Diginex comes as the need for increased regulation, transparency, and traceability around the growing use of digital assets has never been greater. After a thorough review of multiple opportunities in this industry, we have determined Diginex is the trusted operator of choice with the advanced technology infrastructure necessary to meet the standards of institutional investors and partners. With their thoughtful ecosystem approach, we believe Diginex is well-positioned to continue unlocking opportunities and driving institutional adoption of blockchain technologies.”
Richard Byworth, Chief Executive Officer at Diginex, said, “Diginex has been built to provide the financial services infrastructure required to take digital assets and blockchain technology to the next level of adoption by institutional investors and corporations globally. We believe that this exciting transaction will enhance our broader market visibility as we further roll out our global platform including our exchange infrastructure, product offering, licenses and market expansion into key geographies around the world.”
Miles Pelham, Chairman of Diginex, added, “Upon the completion of this transaction, as a publicly-listed Nasdaq company, Diginex will continue to pursue its vision of leveraging blockchain technology for both social good and the disruption of financial intermediaries. Our seasoned and diverse team of financial service professionals, compliance experts, and technologists, are dedicated to regulatory compliance and transparency, standards which are essential to furthering our goal of growing the global propagation of digital assets.”
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[1] Assuming no redemption from the trust, excluding earn out shares. |
Transaction Details
Under the terms of the agreement, JFK will acquire Diginex, with JFK continuing as the listed company on the Nasdaq Capital Market. Upon closing, JFK will change its name to “Diginex Limited”. At the effective time of the share exchange, Diginex’s shareholders will receive 20 million ordinary shares of JFK, valued at $10.00 per share, of which two million ordinary shares will be held in escrow for 12 months after closing of the transaction to satisfy potential indemnification claims under the terms of the agreement. In addition, Diginex shareholders will be entitled to receive earn-out consideration of an additional five million JFK ordinary shares, subject to Diginex achieving share price thresholds of $15, $20, and $30 over the next three years as set forth in the agreement. All options held by Diginex option holders under its current employee share option plan, whether vested or unvested, will automatically be cancelled as of the closing of the transaction and in exchange for the cancelled options and upon payment of the exercise price of the options, the option holders will receive 4.2 million ordinary shares of JFK, in the aggregate, which will be subject to lock-up agreements for a period of fifteen (15) months following closing of the transaction, and shall be released in three (3) equal installments over a period of six (6) months following the expiration of such lock-up period.
The Board of directors of JFK at closing will consist of seven directors, to be designated by the Diginex shareholders.
The closing conditions include, among others, the approval of the transaction as a whole by JFK’s existing shareholders and the aggregate dollar amount of the redemptions does not cause the balance of JFK’s trust account (less any fees and costs relating the transaction) to be an amount less than $5,000,001.
Chardan is acting as a financial advisor to JFK, and Loeb and Loeb LLP is acting as legal counsel to JFK. Winston & Strawn LLP is acting as legal counsel to Diginex.
The description of the transaction contained herein is only a summary and is qualified in its entirety by reference to the definitive agreement relating to the transaction, a copy of which will be filed by JFK with the SEC as an exhibit to a Current Report on Form 8-K.
SOURCE 8i Enterprises Acquisition Corp.
A Pivotal Moment for Blockchain’s Many Frontiers
Today’s briefing arrives at a crossroads in blockchain’s evolution. From AI-driven Layer-1 grant programs to gamified resets in Web3, from supply-chain trust revolutions to exchange-driven token incentives, and high-stakes regulatory leadership shifts, the industry is charting new territory on multiple fronts. As builders, investors, and policymakers navigate this shifting terrain, five stories stand out for their potential to reshape blockchain’s trajectory:
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Lightchain Protocol AI unveils a $150,000 developer grant program to onboard top builders in AI × blockchain.
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Blockchain gaming experiences its lowest engagement of 2025, signaling a sector reset toward sustainability.
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Norwegian Seafood Council research highlights blockchain’s trust-building power in global supply chains.
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MEXC Exchange announces the Einstein (EIN) listing on July 20, 2025, buoyed by a $50 million rewards event.
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Summer Mersinger, a US CFTC commissioner, is tapped as CEO of the Blockchain Association, marking a pivotal regulatory turn.
In this op-ed–style briefing, we’ll unpack each development, explore its implications for blockchain, cryptocurrency, Web3, DeFi, and NFTs, and assess how these narratives intersect to define today’s momentum.
1. Lightchain Protocol AI’s $150K Grant: Catalyzing Decentralized Intelligence
What happened: On May 15, 2025, Lightchain Protocol AI—a Layer-1 blockchain optimized for AI workloads—launched its Developer Grant & Ecosystem Incentive Program, pledging up to $150,000 in total funding to on-board teams building dApps, explorers, wallets, analytics dashboards, DeFi protocols, NFT platforms, and AI-powered modules on its network. Grants are milestone-based (up to $5,000 per milestone), accompanied by technical support, co-marketing, and ecosystem visibility. Source: Bitcoin News
Why it matters: Lightchain’s move underscores the growing fusion of AI and blockchain. By allocating resources to builders at the intersection of these technologies, the protocol signals that the next wave of innovation will hinge on intelligent smart contracts, federated learning coordination, and on-chain decision-making. For developers, this grant lowers barriers to entry and emphasizes sustainable, value-driven growth over token speculation.
> “We’re seeking impactful projects that align with Lightchain AI’s goal of bridging AI and blockchain—everything from AI prediction markets to compute marketplaces.” > — Lightchain Protocol AI Core Team
Implications:
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DeFi & NFTs: Expect AI-augmented lending protocols and NFT platforms with dynamic metadata driven by on-chain models.
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Ecosystem Growth: Lightchain’s aggressive grant strategy may spur competitors (e.g., Ethereum layer-2s) to bolster their own builder incentives.
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Governance & Sustainability: The milestone-based approach aligns funding with tangible progress, a model DeFi DAOs may increasingly adopt for resource allocation.
Source: Bitcoin News
2. Blockchain Gaming’s 2025 Low: A “Reset” Toward Quality
What happened: According to Crypto.news, blockchain gaming saw daily active wallets dip to 4.8 million in April 2025—a 10% month-over-month decline and the lowest point of the year for Web3 gaming. Share of the DApp ecosystem for gaming fell to 21%, now tied with DeFi, while AI projects surged to 16% of on-chain activity. Funding also plunged nearly 70% from March to $21 million in April, though Arbitrum Gaming Ventures deployed $10 million from its $200 million fund to support titles like Wildcard, XAI Network, and Proof of Play. Source: Crypto.news
> “Capital is harder to secure, but that’s not necessarily bad. Weak projects are falling away, and funds are flowing into builders laying the groundwork for the next generation of blockchain games.” > — Sara Gherghelas, DappRadar Analyst
Why it matters: The downturn reflects a market recalibration from token-centric models toward user engagement, game mechanics, and interoperability—key for mainstream adoption. High-profile missteps (e.g., Square Enix shelving Symbiogenesis, Sega’s experimental launch of KAI: Battle of Three Kingdoms) contrast with enduring partnerships like Ubisoft + Immutable’s Might & Magic card game.
Implications:
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DeFi and Gaming Convergence: As DeFi’s share remains steady, expect crossover innovations (e.g., on-chain staking integrated into gameplay).
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Investor Focus: Sustainable tokenomics over ‘yin-yang’ hype; capital will favor projects with robust retention metrics and revenue models.
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NFT Utility: Gaming’s reset may accelerate evolution of NFTs beyond collectibles into dynamic, utility-driven assets.
Source: Crypto.news
3. Deepening Trust in Seafood with Blockchain Transparency
What happened: Perishable News reported on May 15, 2025, that the Norwegian Seafood Council found 89% of consumers desire more information on seafood sourcing. Producers are piloting decentralized blockchain solutions to trace products “sea to shop floor,” sharing immutable data on species, harvest location, handling, and quality checks to reassure ethically conscious buyers. Source: Perishable News
Why it matters: While most blockchain discourse orbits finance and gaming, supply-chain applications represent a mass-market use case for Web3. Immutable provenance data combats fraud, illegal fishing, and mislabelling—an urgent concern as global seafood consumption climbs.
Implications:
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Consumer Engagement: Brands adopting on-chain traceability can premium-price products by verifying sustainability standards, fair labor practices, and environmental impact.
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DeFi Integration: Tokenized incentives could reward ethical producers or create staking mechanisms for supply-chain stakeholders.
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Broader Web3 Adoption: Success in seafood may catalyze blockchain tracking in agriculture, pharmaceuticals, and luxury goods.
Source: Perishable News
4. MEXC’s Einstein (EIN) Listing & $50 Million Rewards Event
What happened: PR Newswire announced on May 16, 2025, that MEXC, a leading global crypto exchange, will list the Einstein (EIN) token on July 20, 2025 (UTC). To celebrate, MEXC has launched a $50 million EIN rewards event, offering incentives through trading competitions, referral bonuses, staking pools, and community tasks. Source: PR Newswire
Why it matters: Large-scale rewards events can drive short-term volume spikes and social engagement, but they also test community loyalty and tokenomics viability. EIN’s positioning as a “science-minded” utility token in educational and research partnerships adds thematic depth to what might otherwise be a routine exchange listing.
Implications:
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Trading & Community Growth: Expect surges in trading volume, potentially setting new ATHs for MEXC’s platform metrics.
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DeFi Crossplay: EIN holders may see integration into DeFi protocols for governance, liquidity mining, and educational grants.
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Regulatory Watch: Large-scale token events continue to attract scrutiny over securities classifications and promotional compliance.
Source: PR Newswire
5. Summer Mersinger Becomes CEO of the Blockchain Association
What happened: Gadgets360 reported that on May 14, 2025, the Blockchain Association confirmed that Summer Mersinger, currently a commissioner at the US Commodity Futures Trading Commission (CFTC), will step down on May 30 and begin as the Association’s CEO on June 2. Mersinger has championed balanced, consumer-focused digital asset rules and will spearhead advocacy for fit-for-purpose legislation alongside US regulators. Source: Gadgets360
> “Summer’s knowledge of how elected officials think through complex questions will be vital as we await next steps on stablecoin and market structure bills.” > — Blockchain Association
Why it matters: The appointment bridges regulatory expertise and industry advocacy at a moment when Congress is eyeing stablecoin frameworks and broader crypto oversight. Mersinger’s shift signals a blurring of lines between government and industry, with potential to accelerate law-making and foster public-private collaboration.
Implications:
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Policy Acceleration: Expect renewed momentum on stablecoin legislation, DeFi disclosures, and market-structure rules by August 2025, per administration timelines.
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Industry Confidence: Firms may feel emboldened to innovate under clearer regulatory signals, supporting growth in DeFi, NFT marketplaces, and tokenized asset offerings.
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Global Alignment: US-led regulatory frameworks often influence EU and APAC regimes—this leadership change could ripple through the international policy landscape.
Source: Gadgets360
Conclusion: Five Threads Weaving Tomorrow’s Blockchain Fabric
Today’s headlines paint a multifaceted portrait of blockchain’s ongoing maturation:
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Ecosystem Incentives: Grant programs like Lightchain’s signal a builder-first ethos, turbocharging AI × blockchain synergy.
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Quality Over Hype: Gaming’s dip reflects a necessary market reset, steering capital to sustainable, engagement-driven projects.
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Real-World Utility: Supply-chain transparency demonstrates blockchain’s power beyond finance, enhancing consumer trust.
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Tokenomics in Motion: Exchange listings and rewards events underscore the ever-evolving interplay between liquidity, community, and utility.
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Regulatory Convergence: Leadership moves like Mersinger’s appointment highlight the tightening feedback loop between policymakers and the Web3 sector.
As blockchain, cryptocurrency, Web3, DeFi, and NFTs continue to intersect, today’s developments underscore a pivotal shift: the industry is moving from speculative frontiers to pragmatic, real-world applications—backed by funding, governance, and policy frameworks that prioritize longevity and trust. Keep these threads in mind as we watch the next chapters unfold.
The post Blocks & Headlines: Today in Blockchain – May 16, 2025 appeared first on News, Events, Advertising Options.
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