Blockchain
CoinAnalyst Corp. Announces Proposed Acquisition of RockStock Equities Inc.
Toronto, Ontario–(Newsfile Corp. – January 20, 2022) – CoinAnalyst Corp. (CSE: COYX) (FSE: 1EO) (“CoinAnalyst” or the “Company“) is pleased to announce that it has entered into a binding letter agreement (the “Letter Agreement“) dated January 11, 2022 with RockStock Equities Inc. (“RockStock“) and all of the shareholders of RockStock™ (the “Vendors“), in respect of the acquisition by the Company of all of the issued and outstanding shares in the capital of RockStock (the “Transaction“).
About RockStock
RockStock Equities Inc. is poised to capitalize on the dramatic impact of Blockchain technology, Cryptocurrencies, and NFTs on a once beleaguered music industry. With a primary focus on the development of an Artist/Fan Utility, RockStock will facilitate and empower artists through a state-of-the-art app platform, allowing them to directly monetize their music, create “pay-per-view” performances and participate in the exciting new world of NFT revenue generation. For the fans, it is an opportunity to connect and support the artists they love through a multi genre, online competition and participate in profit opportunities created through the purchase of Artist Security Tokens and NFTs. For more information about RockStock, please visit www.myrockstock.com.
The Letter Agreement
Under the terms of the Letter Agreement, the Company will purchase all of the shares of RockStock from the Vendors in consideration for $937,500, which will be satisfied through the issuance of 3,750,000 common shares of the Company (“Common Shares“) at a deemed price of $0.25 per share (the “Consideration Shares“). If, at the end of six (6) months period immediately following the closing of the Transaction (the “Closing Date“), RockStock has developed a minimum viable product (MVP) for its product, the Company will issue an additional 250,000 Common Shares at a deemed price of $0.25 per share (the “Earn-Out Shares“). The Consideration Shares and the Earn-Out Shares will be allocated to the Vendors based on their pro rata shareholdings in RockStock.
The Letter Agreement includes a number of conditions to the Closing Date, including but not limited to, (a) a consulting agreement to be entered into between David Abbott and the Company; (b) each Vendor entering into an agreement with the Company for a contractual restriction on resale of the Consideration Shares (the “Lock-Up Agreements“) pursuant to which each Vendor will, among other things, agree not to trade the Consideration Shares, provided that (i) 10% of the Consideration Shares will be free trading on the Closing Date, and (ii) further 15% tranches of Consideration Shares may be traded on each successive three months anniversary of the Closing Date; and (c) the appointment of David Abbott to sit on the board of the Company.
Further information
The CSE has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this news release.
Cautionary Statements Regarding Forward Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the proposal to complete the Transaction and associated transactions. Any such forward-looking statements may be identified by words such as “expects”, “anticipates”, “believes”, “projects”, “plans” and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Statements about, among other things, the appointment of David Abbott on the Board of the Company; the consulting agreement to be entered into between David Abbott and the Company; and the Lock-Up Agreements to be entered into by each of the Vendors and the parties’ ability to satisfy closing conditions and receive necessary approvals are all forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the Transaction will occur or that, if the Transaction does occur, it will be completed on the terms described above. CoinAnalyst and RockStock assume no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.
For more information, please contact:
Andrew Sazama
Chief Operating Officer and Director
Email: [email protected]
Phone: + 49 69 2648485 – 20
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/110958
Blockchain
Alpha Transform Holdings Releases March Report on ASC AI Index
Blockchain
Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
In a recent communication directed to Treasury Secretary Janet Yellen, US Senator Elizabeth Warren has strongly advocated for the incorporation of robust Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures specifically tailored for stablecoins. Senator Warren’s correspondence underscores the critical importance of adopting the full array of AML tools outlined by the Treasury Department in a prior November 2023 communication to Congress.
Senator Warren has underscored the burgeoning threat posed by cryptocurrencies, particularly stablecoins, to national security. She has specifically drawn attention to instances where entities like Iran and Hamas have turned to cryptocurrencies as a means to raise funds and support terrorist activities. To effectively address this evolving threat landscape, Senator Warren asserts that any forthcoming crypto legislation must encompass comprehensive AML/CFT authorities as requested by the Treasury Department.
Moreover, Senator Warren has made reference to the testimony provided by Deputy Secretary Adewale O. ‘Wally’ Adeyemo before the Senate Committee on Banking, Housing, and Urban Affairs. In this testimony, Adeyemo emphasized the critical need for additional AML authorities to combat the growing menace posed by cryptocurrencies. Senator Warren has pointed out that the exclusion of crucial actors within the digital asset ecosystem, such as miners and validators, from AML/CFT requirements could potentially enable nefarious actors to exploit the increased crypto trading facilitated by stablecoin legislation.
Senator Warren’s steadfast stance on the regulation and oversight of cryptocurrencies is aligned with her prior efforts aimed at curbing illicit activities and safeguarding consumers, the financial system, and national security interests. She has persistently advocated for the closure of loopholes in AML regulations that allow sanctioned entities like Iran to derive revenue through crypto transactions. Furthermore, Senator Warren has consistently voiced concerns regarding the exploitation of cryptocurrencies in terrorist financing schemes and has called for the implementation of stronger regulatory frameworks to protect both consumers and national security interests within the realm of stablecoin-related legislation.
Source: blockchain.news
The post Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins appeared first on HIPTHER Alerts.
Blockchain
Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests
Binance has rolled out Binance Megadrop, a novel token launch platform that blends airdrops with Web3 quests. This platform enables users to engage in BNB Locked Products subscriptions and complete tasks within their Web3 Wallet to earn early rewards from chosen Web3 projects, even before their tokens hit the Binance Exchange.
The inaugural project featured on Binance Megadrop is BounceBit (BB), a BTC restaking chain. Here are the token specifics for BounceBit: Max Token Supply: 2,100,000,000 BB, Megadrop Token Rewards: 168,000,000 BB (8% of max token supply), Initial Circulating Supply: 409,500,000 BB (19.5% of max token supply).
To kickstart their journey with Binance Megadrop, users must log into their Binance account and ensure they possess an active Binance Web3 Wallet. From there, they can subscribe to BNB Locked Products and/or fulfill Web3 Quests to accumulate scores. These scores dictate the rewards received through the Megadrop program.
The scoring mechanism for Megadrop relies on the Locked BNB Score, determined by the quantity of BNB subscribed and the subscription period’s duration. Users also earn a Web3 Quest Bonus and a Web3 Quest Multiplier upon completion of designated Web3 Quests. The total score is computed by applying the Web3 Quest Multiplier to the Locked BNB Score and adding the Web3 Quest Bonus.
Importantly, only wallets created within the Binance Web3 Wallet and not external wallets will count towards Megadrop participation. Megadrop rewards will be airdropped to users’ Binance Spot Wallets.
Users must undergo identity verification and maintain at least one active Binance Web3 Wallet to qualify for Megadrop rewards. Additionally, certain jurisdiction-based eligibility criteria apply. Users from Australia, Canada, Cuba, Crimea Region, Hong Kong, Iran, Japan, New Zealand, Netherlands, North Korea, Russia, Singapore, Syria, United Kingdom, United States of America, and its territories are presently ineligible to participate in BB Megadrop.
Binance Megadrop is aimed at offering users an interactive and rewarding experience within the crypto realm. Further details regarding the Megadrop amount, Web3 Quests, and the comprehensive listing plan will be disclosed separately.
Source: blockchain.news
The post Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests appeared first on HIPTHER Alerts.
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