Blockchain
Fusion Labs Announces Acquisition of QREDO
![fusion-labs-announces-acquisition-of-qredo](https://theblockchainexaminer.com/wp-content/uploads/2024/02/49521-fusion-labs-announces-acquisition-of-qredo.jpg)
10T Holdings (“10T”) and 1RoundTable Partners (“1RT”), pioneering growth equity firms focused on the digital asset economy, announced today the acquisition of substantial assets of Qredo Ltd (“Qredo” or “the Company”) through a UK-based entity, Fusion Laboratories Ltd (“Fusion Labs”), and will relaunch these assets in a new venture.
This transaction follows the appointment of Ian James Corfield and Philip David Reynolds as Joint Administrators of the Company on 1 February 2024. The acquisition came after 10T and 1RT led a bridge financing round and a reorganization of the Company late in 2023 under a reconstituted board.
Fusion Lab’s team will focus solely on a new platform seeded at Qredo, called Fusionchain, and next-generation multi-party computation (“MPC”) node technology. The launch of Fusionchain will be accompanied by the migration of the QRDO token to the Cosmos ecosystem, a leading nexus of innovation in the digital asset ecosystem. The token migration will increase utility under revamped tokenomics. Additional information regarding the launch of Fusionchain, the token migration, tokenomics, and strategic plans for Fusion Labs will be communicated in the near future.
Fusion Labs has appointed a new Chief Executive Officer, Randy Little, a Partner of 1RT and 10T, who has extensive software development and crypto business experience. In addition, Duncan Payne-Shelley, the seasoned chief financial officer of Qredo who has been serving as its CEO in recent months, will now serve as the CFO of Fusion Labs. Bringing with them one of the best technology teams in the industry and one that has years of experience working together, Little and Payne-Shelley have hired Jason Losh, Kealan McCusker, Stan Mihaylov, and Chris Morris along with Qredo’s top developers and engineers.
“We remain steadfast in our support of the Fusion team and believe the acquired Qredo platform remains one of the most advanced in the industry,” said Dan Tapiero, CEO, CIO, and Managing Partner of 10T and 1RT, adding, “We look forward to continuing to partner with the talented team at Fusion to drive innovation in the digital asset ecosystem.”
“I am thrilled to work with the Fusion team to fulfill the promise of decentralizing trust in Web3 custody technology with speed and security through the platform begun at Qredo”, said Randy Little, CEO of Fusion Labs. Mr. Little possesses over 25 years of experience in roles at the intersection of technology and financial services. Prior to joining 1RT and 10T, he served as a Managing Director at FT Partners, where he focused exclusively on the digital asset and capital markets fintech sectors. Prior to that, his investment banking experience included J.P. Morgan in the Market Structure, WealthTech, and Quant Trading areas. He also served as an executive at Sun Microsystems before entering the fintech space.
“It has been a privilege to represent this team as CEO as we focused on our evolution with 10T and 1RT,” said former Qredo CEO and current Fusion Labs CFO Duncan Payne-Shelley. “I am thrilled to now work alongside that team as CFO in support of Randy and deliver on the opportunities ahead of us.”
Dan Tapiero will be appointed Chairman of the Board. Joining him on the board will be Tad Smith, a 10T and 1RT Partner, Randy Little, and two independent directors.
In the coming days, the Administrators of Qredo will be communicating with its suppliers, creditors, and employees about next steps. However, a spokesperson for Qredo Services Ltd (“QSL”) confirmed that the Qredo custody platform will remain fully operational until further notice and that customers will be unaffected by these changes for now.
All further questions regarding the Company should be directed to the Administrators via Sam Malloy ℅ FRP Advisory Trading Limited, 110 Cannon Street, London EC4N 6EU, ([email protected]).
The post Fusion Labs Announces Acquisition of QREDO appeared first on HIPTHER Alerts.
Blockchain
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution
Blockchain
Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them
![ethereum-etfs-aren’t-blockchain-but-is-a-revolutionary-tech:-top-6-amazing-reasons-to-invest-in-them](https://theblockchainexaminer.com/wp-content/uploads/2024/07/51834-ethereum-etfs-arent-blockchain-but-is-a-revolutionary-tech-top-6-amazing-reasons-to-invest-in-them.png)
The financial landscape is rapidly evolving, with the integration of blockchain technology and cryptocurrencies becoming more prominent. Among these, Ethereum ETFs (Exchange-Traded Funds) have emerged as a significant investment vehicle, offering exposure to the Ethereum blockchain’s native cryptocurrency, Ether (ETH), without requiring direct ownership. However, it’s crucial to understand that Ethereum ETFs are distinct from the blockchain itself and serve different purposes in the investment world.
Understanding Ethereum and ETFs
Ethereum: A decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It operates using its cryptocurrency, Ether (ETH), which fuels the network.
ETF (Exchange-Traded Fund): A type of investment fund that holds a collection of assets and is traded on stock exchanges. ETFs can include various asset classes, such as stocks, commodities, or bonds.
Ethereum ETFs: The Intersection of Traditional Finance and Cryptocurrency
An Ethereum ETF provides a way for investors to gain exposure to the price movements of Ether without directly purchasing the cryptocurrency. This is achieved through an ETF structure, where the fund holds assets linked to the value of Ether, and investors can buy shares of the ETF on traditional stock exchanges.
Key Features of Ethereum ETFs:
- Indirect Exposure: Investors gain exposure to Ether’s price changes without needing to manage or store the cryptocurrency themselves.
- Regulatory Compliance: Unlike the relatively unregulated cryptocurrency market, ETFs operate under the oversight of financial regulators, offering a layer of investor protection.
- Accessibility: Ethereum ETFs are available through traditional brokerage platforms, making them accessible to a broader range of investors.
Why Invest in an Ethereum ETF?
- Diversification: Including an Ethereum ETF in a portfolio can provide exposure to the cryptocurrency market, potentially enhancing diversification beyond traditional assets.
- Convenience and Familiarity: ETFs are a familiar investment product, simplifying the process of investing in cryptocurrencies.
- Professional Management: ETF managers handle the investment decisions, including the buying and selling of assets, which can be advantageous for those less familiar with the cryptocurrency space.
- Regulatory Oversight: ETFs are subject to regulatory scrutiny, potentially offering more safety and transparency compared to direct cryptocurrency investments.
- Potential for Growth: As the cryptocurrency market grows, ETFs linked to assets like Ether may benefit from rising prices.
Key Differences Between Ethereum and Ethereum ETFs
While both are related to the Ethereum blockchain, Ethereum itself and Ethereum ETFs represent different forms of investment:
- Ethereum (ETH):
- Direct ownership of the cryptocurrency.
- Full exposure to Ethereum’s features, including staking and network participation.
- Traded on cryptocurrency exchanges.
- Highly volatile and largely unregulated.
- Ethereum ETF:
- Indirect exposure through shares representing Ether’s value.
- Traded on traditional stock exchanges under regulatory oversight.
- Offers a more stable and familiar investment structure.
- Typically lower volatility compared to direct cryptocurrency ownership.
Future Considerations for Ethereum ETFs
The approval and launch of Ethereum ETFs mark a significant milestone in bringing cryptocurrencies closer to mainstream finance. They offer a convenient and regulated means for investors to gain exposure to the growing digital assets market. However, they also come with limitations, such as not allowing direct participation in the Ethereum ecosystem’s innovations, like dApps and smart contracts.
As the market evolves, we may see more sophisticated financial products that better capture the full potential of the Ethereum ecosystem. For now, Ethereum ETFs provide a balanced option for those interested in cryptocurrency exposure within the framework of traditional finance.
In conclusion, while Ethereum ETFs offer a gateway into the world of digital assets, they should be viewed as complementary to, rather than a replacement for, direct investment in the underlying blockchain technologies. Investors should carefully consider their investment goals, risk tolerance, and the unique attributes of both Ethereum and Ethereum ETFs when making investment decisions.
Source: blockchainmagazine.net
The post Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them appeared first on HIPTHER Alerts.
Blockchain
Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance
![nexo-reaffirms-commitment-to-data-protection-with-soc-3-and-soc-2-compliance](https://theblockchainexaminer.com/wp-content/uploads/2024/07/51836-nexo-reaffirms-commitment-to-data-protection-with-soc-3-and-soc-2-compliance.png)
Nexo, a leading institution in the digital assets industry, has reinforced its commitment to data security by renewing its SOC 2 Type 2 audit and attaining a new SOC 3 Type 2 assessment without any exceptions. This rigorous audit process, conducted by A-LIGN, a respected independent auditor specializing in security compliance, confirms Nexo’s adherence to stringent Trust Service Criteria for Security and Confidentiality.
Key Achievements and Certifications
- SOC 2 and SOC 3 Compliance:
- SOC 2 Type 2: This audit evaluates and reports on the effectiveness of an organization’s controls over data security, particularly focusing on the confidentiality, integrity, and availability of systems and data.
- SOC 3 Type 2: This public-facing report provides a summary of SOC 2 findings, offering assurance to customers and stakeholders about the robustness of Nexo’s data security practices.
- Additional Trust Service Criteria:
- Nexo expanded the scope of these audits to include Confidentiality, showcasing a deep commitment to protecting user data.
- Security Certifications:
- The company also adheres to the CCSS Level 3 Cryptocurrency Security Standard, and holds ISO 27001, ISO 27017, and ISO 27018 certifications, awarded by RINA. These certifications are benchmarks for security management and data privacy.
- CSA STAR Level 1 Certification:
- This certification demonstrates Nexo’s adherence to best practices in cloud security, further solidifying its position as a trusted partner in the digital assets sector.
Impact on Customers and Industry Standards
Nexo’s rigorous approach to data protection and compliance sets a high standard in the digital assets industry. By achieving these certifications, Nexo provides its over 7 million users across more than 200 jurisdictions with confidence in the security of their data. These achievements not only emphasize the company’s dedication to maintaining top-tier security standards but also highlight its proactive stance in fostering trust and transparency in digital asset management.
Nexo’s Broader Mission
As a premier institution for digital assets, Nexo offers a comprehensive suite of services, including advanced trading solutions, liquidity aggregation, and tax-efficient credit lines backed by digital assets. Since its inception, the company has processed over $130 billion, showcasing its significant impact and reliability in the global market.
In summary, Nexo’s successful completion of SOC 2 and SOC 3 audits, along with its comprehensive suite of certifications, underscores its commitment to the highest standards of data security and operational integrity. This dedication positions Nexo as a leader in the digital assets space, offering unparalleled security and peace of mind to its users.
Source: blockchainreporter.net
The post Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance appeared first on HIPTHER Alerts.
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