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LBank Exchange Will List VNX Gold (VNXAU) on October 25, 2022



Internet City, Dubai–(Newsfile Corp. – October 25, 2022) – LBank Exchange, a global digital asset trading platform, will list VNX Gold (VNXAU) on October 25, 2022. For all users of LBank Exchange, the VNXAU/USDT trading pair will be officially available for trading at 10:00 UTC on October 25, 2022.

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Utilizing the blockchain technology to tokenize the physical gold, VNX Gold (VNXAU) provides the reliability of gold with the flexibility of a crypto asset and enables users to buy and sell the purest gold from anywhere in the world. Its token VNXAU will be listed on LBank Exchange at 10:00 UTC on October 25, 2022, to further expand its global reach and help it achieve its vision.

Introducing VNX Gold

VNX Gold is a project under VNX that enables users to easily manage all of their gold transactions with digital tokens. Its tokenization of gold allows users to skip the hassle of visiting a vault or bank, and confidently invest from anywhere in the world.

As the first registered EEA investment platform for precious metals under the blockchain act (TVTG), VNX complies with the regulations and leading standards of investor protections. It believes that users should be able to make transactions with precious metals from anywhere in the world, with complete confidence and protection.

Upon purchase of the precious metals, users are issued a token on one of the supported blockchains. This token represents their individual ownership of the actual physical metal that is stored in high-security European vaults, independent from the banking system and in full compliance with applicable laws. While tokens may be sold at the platform or crypto exchange, user’s physical bars can be collected personally from the vault and delivered anywhere in the world by request.

Furthermore, user’s investments will be significantly simplified with tokenization. VNX provides a seamless, user-friendly digital platform that allows users to buy and sell precious metals for euro and cryptocurrency and transfer them 24/7 to their crypto wallet anywhere in the world. And users can enjoy a competitive fee structure with no storage fee.

VNXAU is a multichain token which will be available on different blockchains. With the listing on LBank VNX Gold issued its gold-backed tokens on the Q blockchain.

Q is a novel Layer 1 blockchain that offers the highest level of security for high-value use cases such as asset-backed tokens. The issuance of VNXAU on Q allows token holders enjoy high-performance transaction capabilities and solidified trust created by the Q ecosystem.

About VNXAU Token

VNX Gold (VNXAU) is a multichain token that represents ownership of specific physical gold bars purchased and stored in the VNX Gold holder’s name in a highly secured professional vault in the Principality of Liechtenstein. It’s freely transferrable on the supported blockchains and can be transferred to any wallet supporting the ERC-20 standard.

Each VNX Gold token holder is the only lawful owner of the gold subject to successful registration, identification, and passing anti-money laundering checks on the VNX Platform. Each one VNX Gold token certifies ownership of one gram of gold in a certain gold bar. There is no ultimate VNX Gold supply limitation because the number of VNX Gold tokens generated is driven by the demand from clients.

The VNXAU token will be listed on LBank Exchange at 10:00 UTC on October 25, 2022, investors who are interested in the VNX Gold investment can easily buy and sell VNXAU token on LBank Exchange by then. 

Learn More about VNXAU Token:

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About Q Blockchain

Q is a novel blockchain with a focus on transparent and enforceable governance.

Q’s vision is to create a comprehensive governance framework for the decentralized world, thereby enabling the most demanding applications and use cases. With its unique two-tier node system and a dispute resolution mechanism that is integrated into the protocol, Q offers unparalleled security.

This makes Q the ideal platform for high-value use cases such as asset-backed tokens issued by VNX. Users can rest assured that their assets are safe, while enjoying the benefits of a high-performance blockchain such as high transaction speed and low costs. Furthermore, the Q ecosystem offers all the features and tooling you would expect – purpose-built wallets, convenient user interfaces, token bridges to other blockchain ecosystems and much more.

Q is supported by the Q International Foundation, a not-for-profit entity based in the Principality of Liechtenstein.

Learn more about Q:


About LBank

LBank is one of the top crypto exchanges, established in 2015. It offers specialized financial derivatives, expert asset management services, and safe crypto trading to its users. The platform holds over 7 million users from more than 210 regions across the world. LBank is a cutting-edge growing platform that ensures the integrity of users’ funds and aims to contribute the global adoption of cryptocurrencies.

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Contact Details:
LBK Blockchain Co. Limited
LBank Exchange
[email protected]
[email protected]

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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.


The post Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest appeared first on HIPTHER Alerts.

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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.


The post ASIC cracks down on blockchain mining firms appeared first on HIPTHER Alerts.

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