Blockchain
Inside LBank’s Bitcoin Miami Exhibition, Sponsorship, and Satellite Event
Dubai, United Arab Emirates–(Newsfile Corp. – April 13, 2022) – Global crypto exchange,
Figure 1: Inside LBank’s Bitcoin Miami Exhibition, Sponsorship, and Satellite Event
To view an enhanced version of Figure 1, please visit:
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As one of the biggest crypto events in the US, Bitcoin Miami 2022 gathered over 35,000 attendees, making it the biggest Bitcoin gathering to date. LBank exhibited at the conference for the first time promoting its products and services in person and sharing with the world some of its future plans for the US.
LBank COO, Shantnoo Saxsena, shared in an interview his opinion on what an event like bitcoin Miami represents, “The crypto industry is all about difference. As you can see this is the same old bull that we’ve seen always, but this bull is 2.0 which makes it so graceful and wonderful,” Saxsena says. The 2.0 version bull signals the advent of a new era of crypto dominance and a new way of global growth. LBank wishes to support this trend by spreading crypto to more corners of the world, with its newest stop in Miami.
On April 6th, LBank hosted a successful satellite event for further talk and socializing after the main conference. The event, named “Chill and Chat with LBank”, was delighted to host more than 500 attendees from all across the industry. LBank CMO, Kaia Wang, said, “We’re so glad to have so many people join us, and we’ve certainly made a lot of new friends.”
Miami seems to be only the first stop for LBank in the US. LBank is shown to be a sponsor for Coindesk Consensus 2022, which will be hosted in mid-June. When asked if LBank will be an exhibitor at consensus, staff told us that LBank has a lot planned for consensus, planning not only to be an exhibitor but also to host a speaking session.
LBank has traditionally been a strong player in the UAE, with a major office in the crypto-friendly city of Dubai, but 2022 will see a lot of new activity in the US. “We see great potential in the US. Miami really welcomed us with open arms and we are more than excited about Austin (where Coindesk Consensus will be hosted),” a representative said. “We hope to further establish our presence in the US and Europe. Many think LBank is a new company because we are not very well known in the US. In fact, we are one of the older players in the game with 7 years under our belt. We hope to expand in the US within the next few years and you will certainly be seeing a lot more from us.”
About LBank Exchange
LBank Exchange, founded in 2015, is an innovative global trading platform for various crypto assets. LBank Exchange provides its users with safe crypto trading, specialized financial derivatives, and professional asset management services. It has become one of the most popular and trusted crypto trading platforms with over 6.4 million users from more than 210 regions around the world.
Start Trading Now: lbank.info
Community & Social Media:
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Contact Details:
LBK Blockchain Co. Limited
LBank Exchange
[email protected]
PR Contact:
ZEX PR WIRE
https://zexprwire.com/
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/120378
Blockchain
Supply Chain Finance Market Forecast to Reach $9.4 Billion by 2029: Increasing Emphasis on Sustainable Sourcing
Global Supply Chain Finance Market
Blockchain
Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest
Venture capital funding for cryptocurrency and blockchain projects has seen a notable resurgence in the first quarter of 2024, marking its first quarterly rise since 2021. Crunchbase data released today indicates that Web3 startups secured nearly $1.9 billion in funding across 346 deals during this period. This represents a substantial 58% increase from the previous quarter, offering a glimmer of hope amidst the ongoing downward trend in overall crypto VC interest.
The recent surge in funding can be attributed to investors adopting a more long-term perspective on Web3, as opposed to the hype-driven “tourist investors” predominant in recent years. Chris Metinko, the author of the report, notes that investors are shifting their focus to the AI sector, indicating a change in investment strategy. There is a growing interest in supporting the foundational infrastructure of the decentralized internet, rather than solely concentrating on crypto wallets and lending platforms, which attracted significant investments during the peak period of 2021 to 2022.
While large funding rounds were relatively uncommon in Q1, several notable investments stood out. Exohood Labs, a company integrating AI, quantum computing, and blockchain, secured a remarkable $112 million seed round at a valuation of $1.4 billion. EigenLabs, an Ether token “restaking” platform, raised $100 million in a Series B round led by a16z crypto. Additionally, Freechat, a decentralized social network leveraging blockchain technology, secured $80 million in a Series A round. These investments, among others, contributed to the increase in valuations and the emergence of four new Web3 unicorns in Q1.
Despite the recent progress, the future trajectory of Web3 remains uncertain. Metinko suggests that the next few quarters will be pivotal in determining the industry’s direction. While investors anticipate a rebound in investment as the decentralized internet evolves, it may take another year for venture capital activity to stabilize after the exuberance of 2021. Factors such as the approval of U.S. spot Bitcoin exchange-traded funds and the upcoming Bitcoin halving could also influence the market, given the rising prices of Bitcoin and Ether.
A noteworthy example of significant funding in the Web3 space is Monad Labs’ recent successful funding round, which secured $225 million led by Paradigm. Monad Labs is a layer-1 blockchain compatible with Ethereum, offering faster transaction processing. This funding round harkens back to the golden era of crypto funding in 2021-2022, when L1 solutions attracted substantial investments.
Earlier this year, Balance, a digital asset custodian based in Canada, announced that it had once again reached $2 billion in assets under custody (AUC) amidst the recent market recovery. Similarly, Korea Digital Asset (KODA), the largest institutional crypto custody service in South Korea, has experienced remarkable growth in crypto assets under its custody, expanding by nearly 248% in the second half of 2023.
Analysts at Bernstein Research project that crypto funds could reach an impressive $500 billion to $650 billion within the next five years, representing a significant leap from the current valuation of approximately $50 billion. This forecast underscores the growing optimism and potential for substantial growth within the crypto industry in the coming years.
Source: cryptonews.com
The post Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest appeared first on HIPTHER Alerts.
Blockchain
ASIC cracks down on blockchain mining firms
Three blockchain mining companies – NGS Crypto, NGS Digital, and NGS Group – along with their directors, Brett Mendham, Ryan Brown, and Mark Ten Caten, are facing legal action from the Australian Securities and Investments Commission (ASIC) for allegedly operating without a license, in violation of Australia’s Corporations Act. ASIC initiated legal proceedings against these entities on April 9, citing concerns about their non-compliance with financial regulations and their solicitation of Australian investors.
According to ASIC, the NGS companies promoted blockchain mining packages with fixed-rate returns to Australian investors, encouraging the transfer of funds from regulated superannuation funds to self-managed superannuation funds (SMSFs) for conversion into cryptocurrency. Approximately 450 Australians invested a total of around USD 41 million in these packages, raising concerns about potential financial losses.
The legal action filed by ASIC alleges that the companies violated section 911A of the Corporations Act, which prohibits companies from providing financial services without a valid Australian Financial Services Licence (AFSL). ASIC is seeking interim and final court orders to prohibit the NGS companies from offering financial services in Australia without an AFSL.
ASIC Chair Joe Longo emphasized the importance of investors carefully considering the risks before investing in crypto-related products through their SMSFs. Longo stated that ASIC’s actions send a message to the crypto industry about the regulator’s commitment to ensuring compliance with regulations and protecting consumers.
In a separate development, the Federal Court appointed receivers for the digital currency assets associated with the NGS companies and their directors to safeguard these assets amid concerns about the risk of dissipation. Mendham was also issued a travel restriction order, preventing him from leaving Australia.
While a court date for the proceedings has not been set, ASIC’s investigation is ongoing, with the regulator continuing to gather evidence and build its case. It is worth noting that the investigated companies share a similar name with NGS Super, a legitimate Australian pensions provider, leading to potential confusion among investors. NGS Super clarified that it is not involved in selling cryptocurrency or related products and has taken legal action to protect its trademark and members’ interests.
Source: iclg.com
The post ASIC cracks down on blockchain mining firms appeared first on HIPTHER Alerts.
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