Blockchain
Firstrade Donates Pallets Of Bottled Water To Support Hurricane Ian Relief Efforts
Orlando, Florida–(Newsfile Corp. – October 26, 2022) – Hurricane Ian made landfall west of Fort Myers, Florida on September 28 as a Category-4 storm, causing many fatalities and catastrophic damage to cities in its path. In the aftermath, many Florida residents experienced displacement, flooding, power outages and damage to their homes.
Firstrade send pallets of water to Fort Myers community members
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8342/141986_1d68959ab496a96a_001full.jpg.
Firstrade worked closely with the area’s main bottled water distributor, Blue Triton, and the largest church in Fort Myers (First Assembly of God – an official relief distribution center) to reach distressed communities in the Fort Myers area and supply them with 23 pallets of drinkable water.
“The West Coast cities such as Fort Myers were devastated. In the first three days of the aftermath, we were unable to reach any agency, hospital, news media, or even local first responders to learn how we could help. We saw on the news that there was no supply of bottled water for miles around Fort Myers and urgent requests for donations were going unmet-so we took matters into our own hands.”
“Working directly with the local community enabled us to cut through the red tape and normal delays that occur in a crisis to get the relief to the affected communities sooner,” said Jeff Huang, CIO of Firstrade.
The staff at Blue Triton were so moved that they worked around the clock to locate supplies for Firstrade. On the day of delivery, a total of 23 pallets were delivered instead of 11 pallets that were expected.
The cleanup and restoration process is expected to take some weeks, however Firstrade will continue to support the Florida community during these testing times. The new Orlando FL branch and aforementioned support to the Floridian community is the start of continued initiatives in the state, to help the community get back on its feet after the devastation brought by Ian.
About Firstrade Securities
Firstrade is a leading online brokerage offering commission-free trading on stocks, ETFs, options, mutual funds and fixed income through its mobile apps and web platform. It offers a full line of investment products, no-fee IRA retirement services, advanced tools to help self-directed investors take control of their financial future and has the lowest cost among other brokerages. Since 1985, Firstrade has been a member of the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). For more information, visit https://www.firstrade.com/.
Firstrade began an expansion into Florida, and opened the first FL branch in Orlando in April of this year. Firstrade FL branch was opened after launching cryptocurrencies on its brokerage platform, allowing customers to trade cryptocurrencies while having access to stocks, ETFs, mutual funds, and options – all under one roof.
Cryptocurrency trading is offered by Apex Crypto LLC. Cryptocurrencies are not securities and are not FDIC or SIPC insured. Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Firstrade Crypto LLC. Please understand the risks before trading: apexcrypto.com/legal.
Angela Huang
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/141986
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.
-
Blockchain4 days ago
Open-Source Intelligence (OSINT) Market is expected to reach a revenue of USD 64.9 Bn by 2033, at 25.6% CAGR: Dimension Market Research
-
Blockchain3 days ago
Blockchain Transforming Travel: Quantum Temple’s Innovative Venture
-
Blockchain Press Releases3 days ago
Bybit and Franck Muller Partner with Sidus Heroes to Launch Cosmic Gears: A Pioneering Web3 Game with a $250,000 Prize Pool and Exclusive Watch Collection
-
Blockchain1 day ago
Quantum eMotion Files a Patent for Quantum-based Blockchain Wallet Under the Patent Cooperation Treaty (PCT)
-
Blockchain1 day ago
Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
-
Blockchain4 days ago
Bybit and World Leaders Forge Major Alliance to Direct Web3 for Social Good
-
Blockchain3 days ago
Evolution of the Blockchain World: Doric Blockchain Drives Education and Adoption of Blockchain Technology and Tokenization in Latin America
-
Blockchain Press Releases1 day ago
Canaan Shines at Blockchain Life 2024 in Dubai