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Worldcoin Announces Circulating Supply Update and Sales to Trading Firms

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Worldcoin Foundation’s subsidiary, World Assets Ltd., intends to address the rising demand for orb-verified World IDs and support the expansion of the Worldcoin network by selling WLD tokens. These sales will be executed through private placements with trading firms located outside the US, with measures implemented to prevent the resale of tokens to US individuals. This move will lead to an increase in the circulating supply of WLD tokens.

In a recent update posted on the Worldcoin blog, it was disclosed that World Assets Ltd., a subsidiary of the Worldcoin Foundation, plans to sell WLD tokens from its treasury to cater to the increasing demand for orb-verified World IDs and to aid in the growth of the Worldcoin network.

The majority of the current circulating supply of 193 million WLD tokens has been distributed to over 5 million individuals with orb-verified World IDs and through user grants across more than 160 countries. To facilitate the sale of WLD tokens, World Assets will conduct private placements with selected institutional trading firms operating outside the United States.

These private placements will span up to six months and will incorporate measures to prevent the flow of WLD tokens sold outside the US back into the country. For instance, participating trading firms will be prohibited from reselling WLD tokens to individuals or on digital asset trading platforms accessible to US persons. Additionally, a 40-day lock-up period may be enforced to restrict the resale of WLD tokens by trading firms, subject to legal and commercial considerations.

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World Assets aims to engage with multiple trading firms, fostering competition among them to ensure that private placements are executed at prices close to prevailing market rates for WLD tokens, while considering the aforementioned restrictions.

In the current market scenario, World Assets anticipates selling between 0.5 million and 1.5 million WLD tokens on average per week. This volume represents less than 0.1% to 0.4% of the weekly trading volume, resulting in a corresponding increase in the circulating supply of WLD tokens.

It is essential to acknowledge that World Assets may deviate from the outlined plans, and readers are advised to consult the Disclaimer provided in the Worldcoin Whitepaper for further information. Moreover, engaging with crypto products like WLD tokens entails inherent risks, and individuals are encouraged to review the Important User Information available on the Worldcoin website.

Please note that the availability of Worldcoin (WLD) tokens is limited to specific territories and is not intended for individuals, companies, or organizations situated in the United States or other restricted territories. Nevertheless, World ID, TFH’s World App, and other associated functionalities within the Worldcoin ecosystem remain accessible in the United States.

Source: blockchain.news

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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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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

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