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Finxeed Announces $10 Million Strategic Investment from DBank (Chain Bank Group) to Launch the World’s First Digital Asset Prop Firm

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Kuala Lumpur, Malaysia–(Newsfile Corp. – December 22, 2022) – Finxeed, the decentralized credibility scoring platform, today announced that it has signed a memorandum of understanding (MoU) with DBank Group. Pursuant to the MoU, DBank Group intends to make a strategic investment of 10 million USD to create a trust network through big data, to enhance trust, transparency, and security in web3 especially decentralized finance (DeFi). This investment enabled the conception of STOT, the world’s first digital asset prop firm. Finxeed believe that empowering trust within the DeFi community starts from digital asset traders.

DBank Group has been creating a blockchain industry ecosystem since 2018 with blockchain infrastructure services at its core. This ecosystem integrates information technology, open platforms, investments, industrial research, and technological advancement. The partnership with DBank Group is a key step in Finxeed’s mission to revolutionize the credibility scoring market in web3. The strategic investment will also help Finxeed to broaden its product suite and develop innovative services for the benefits of its customers, for example, trust-based community building, news and media provenance, and on-chain trade scoring and certification. This strategic investment from DBank Group is a testament to Finxeed’s leadership in the space.

As the key initiatives to further empowerment of trust within the blockchain community. STOT will be a platform for traders to learn, share and grow their trading skills and strategies and gain their credibility scoring profile in the decentralized society. It will feature a variety of tools and resources to help traders improve their trading abilities and credibility and make more informed decisions.

Both experienced and novice traders can obtain a program certification from STOT, a two-step evaluation process that verifies their trading skills. Participants will go through a verification process before graduating as a STOT alumni once they have demonstrated their trading abilities and discipline by successfully completing the training objectives. Participants in STOT will have the chance to trade as STOT alumni on behalf of the Partnered Trading Platform. Finxeed hopes that STOT will become a hub for traders to learn, grow, collaborate, and most importantly build trust.

About Finxeed

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Finxeed is a decentralized credibility scoring platform founded in 2022 and is powered by a team of experienced professionals from the fields of finance, technology, and marketing, who specialize in creating cutting-edge solutions for the digitalized world. The company is also backed by leading venture capitalists and angel investors, who share the vision of creating a trust network through big data, to enhance trust, transparency, and security in a decentralized society.

By combining on-chain footprint data collection systems, decentralized credibility scoring, and supervisory technology, Finxeed will be building the most trust-centric environment that spans the entire blockchain industry vertical. Leading the wave in provenance, authenticity, and credibility in web3.

Media Contact

Representative: Jaz pee

Contact: (60) 12 218 9181

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Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

New seed-stage VC fund from Finland secures €6 million in initial close for €30 million blockchain fund

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Helsinki-based Equilibrium Ventures (EQV), a new seed-stage venture capital fund focused on the crypto sector, has successfully closed the first round of its €30 million fund, raising €6 million from limited partners (LPs). This milestone highlights growing interest in blockchain startups and a promising future for the European crypto ecosystem.

The fund is led by an experienced team of partners: Mika Honkasalo, Henrik Sundvik (formerly of Bain & Company), and Christopher Ahn (ex-Molten Ventures investor). Equilibrium Ventures aims to attract and support founders with deep technical expertise in blockchain technologies, covering areas such as zero-knowledge proofs and smart contracts, essential for developing advanced blockchain solutions.

Equilibrium Ventures has attracted a diverse group of backers, including strategic investors, family offices, and notable LPs like Sebastien Borget, co-founder of the metaverse platform The Sandbox. This support underscores the fund’s credibility and signals growing confidence in crypto investments despite recent market challenges.

Dedicated to crypto infrastructure, Equilibrium Ventures emphasizes rigorous technical due diligence and value addition for pre-seed and seed engineering firms. With a network of about 70 blockchain engineers, mainly based in Europe, the fund is well-positioned to help startups develop robust blockchain technologies.

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The renewed interest in venture capital investment in blockchain, bolstered by evolving regulatory landscapes in the US and Europe, is expected to increase investor confidence in the crypto sector. Equilibrium Ventures, with its technical expertise and strategic support, is poised to become a significant player in Europe’s crypto venture scene.

Looking ahead, Equilibrium Ventures aims for a second close by the end of this summer, targeting 80% of the total fund. This progress indicates strong momentum and the potential for significant contributions to the European blockchain ecosystem.

Source: arcticstartup.com

The post New seed-stage VC fund from Finland secures €6 million in initial close for €30 million blockchain fund appeared first on HIPTHER Alerts.

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Riot Platforms Acquires 14% Stake in Bitfarms Ltd.

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Riot Platforms, Inc. has announced its acquisition of a 14% stake in Bitfarms Ltd., as detailed in a recent press release by Riot Platforms. This move aligns with Riot’s strategy to influence corporate governance within Bitfarms.

Acquisition Details

On June 13, 2024, Riot Platforms purchased 1,432,063 common shares of Bitfarms Ltd., representing about 0.35% of Bitfarms’ issued and outstanding common shares. The shares were bought on the Nasdaq Stock Market and other open markets at an average price of approximately $2.70 per share, totaling $3,870,293.46.

Before this acquisition, Riot held 56,194,973 common shares of Bitfarms, equating to 13.65% ownership. With the new shares, Riot now holds 57,627,036 common shares, resulting in a 14% stake in Bitfarms.

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Strategic Intentions

Riot Platforms intends to call a special meeting of Bitfarms’ shareholders to nominate several independent directors to the board, citing concerns over Bitfarms’ corporate governance. Riot seeks to influence Bitfarms’ strategic direction and enhance its governance standards.

Riot is continuously reviewing its investment in Bitfarms and may adjust its position based on factors such as market conditions and the company’s financial status. Potential actions include increasing or decreasing its stake, entering into hedging transactions, or proposing additional strategic measures.

Forward-Looking Statements

The press release includes forward-looking statements subject to risks and uncertainties, reflecting Riot’s current expectations and assumptions. Riot cautions investors to consider these risks before making investment decisions.

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Riot’s vision is to become the leading Bitcoin-driven infrastructure platform, focusing on a vertically integrated strategy with Bitcoin mining operations in Texas and electrical switchgear engineering in Colorado.

Source: blockchain.news

The post Riot Platforms Acquires 14% Stake in Bitfarms Ltd. appeared first on HIPTHER Alerts.

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Blockchain

Manta Foundation Unveils $50M EcoFund to Foster Blockchain Innovation

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The Manta Foundation has launched its $50 million EcoFund to build a robust ecosystem for leading blockchain projects, as per Manta Network. This initiative demonstrates the foundation’s commitment to funding opportunities and developer support for innovative blockchain ventures.

Funding and Support Opportunities
Starting June 15th, the one-year EcoFund will offer significant financial support through its Ecosystem Grant Program, which provides early-stage projects with grants of up to $50,000. This initial funding is crucial for bringing innovative ideas to life.

Additionally, the EcoFund dedicates $35 million for direct investments in promising projects on the Manta Network. These strategic investments aim to foster high-growth ventures that align with Manta Network’s long-term objectives, promoting a collaborative and mutually beneficial environment.

Diverse Project Focus
The Manta Foundation supports a broad range of projects across sectors such as DeFi, Gaming, NFTs, and more. These initiatives are chosen for their potential to drive consumer adoption and significantly enhance the Manta Network ecosystem.

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Applications for the EcoFund are accepted on a rolling basis, ensuring ongoing funding and support opportunities. The foundation prioritizes projects with robust business models and scalability, aiming to ensure the ecosystem’s financial health and sustainability.

Specialized Funding Categories

In addition to general grants, the EcoFund targets specific high-growth areas:

– AI/DePIN: Focused on using AI and Decentralized Physical Infrastructure Networks for sustainable solutions.
– Zero-Knowledge: Investments in zero-knowledge technology to boost privacy and security in the blockchain space.
– Memecoins: The Moon Mission Grant supports the development and growth of meme projects on Manta Pacific, fostering a vibrant memecoin culture.

Events and Hackathons
To further enrich the ecosystem, the Manta Foundation has allocated $5 million for online and offline events and hackathons. These events aim to attract new developers and users, fostering a culture of innovation and collaboration within the Manta Network community.

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Source: blockchain.news

The post Manta Foundation Unveils $50M EcoFund to Foster Blockchain Innovation appeared first on HIPTHER Alerts.

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