Blockchain
Dignity Gold, LLC Announces New Corporate Advisor Engagements
Today, Dignity Gold, LLC (“Dignity Gold”) is pleased to announce its new advisor engagements. This team has been carefully selected and assembled since July of 2019. At the top in their industries, these parties have been working side-by-side with management to lead the company into its next chapter.
As previously announced, Dignity Gold, LLC uncovered discrepancies in the trading of the Dignity (DIG) token. Although Dignity Gold is unaware of how these discrepancies occurred, they appear to have resulted in the unauthorized and improper minting of new DIG tokens. Dignity Gold, LLC has not received any response from Livecoin.net with respect to its inquiries into these discrepancies, and Dignity tokens purchased on Livecoin.net after January 18, 2020 may not be valid.
Although Dignity Gold did not authorize the issuance of the DIG tokens, Dignity Gold’s management team, along with its advisors, is working on a remedy for DIG token holders. To be announced in the coming weeks, Dignity Gold plans to put a process in place for legitimate DIG token holders to achieve a solution from the current challenges they face.
The advisors include the following:
Tritaurian Capital
Tritaurian Capital, a FINRA registered U.S. investment bank serves as the compliance consultant to Dignity Gold, LLC and is the foremost expert in compliant and regulated security token offerings. It is the first broker/dealer to be approved for a license to sell digital private placement securities using distributed ledger technology, otherwise known as blockchain technology. Tritaurian believes that blockchain-based securities offer the opportunity to improve record keeping and transparency through the open nature of blockchains while increasing security and compliance through the programmable nature of blockchain tokens. By capitalizing on the background of its principals in investment banking, entrepreneurial growth companies and transformational technologies, Tritaurian examines every angle and opportunity for its clients in order to provide the highest quality financial advice and service possible.
Carlton Fields
Carlton Fields serves as legal counsel to Dignity Gold, LLC and is one of the leading firms in the United States within the practice of Securities and Investors. Specifically, the securities industry turns to Carlton Fields for its regulatory, enforcement, litigation, corporate finance and corporate needs. The National practice serves publicly-held corporations as well as the broker-dealer, investment advisor, and investment company components of the Securities Industry.
Impact Partners
Impact Partners serves as the public and investor relations firm to Dignity Gold, LLC. The partners of Impact Partners have been senior advisors to some of the world’s most prestigious organizations, CEOs, as well as counseled multiple heads of state. The firm provides companies and their leadership with the insights and access necessary to activate competitive advantages that drive business results. With powerful connections across the global business and media landscape, their expertise puts their clients into the right rooms, with the right people at the right time. Their current client roster consists of leading venture capital firms, family offices / high net worth investors, and the companies they each invest their monies.
SOURCE Dignity Gold, LLC
Blockchain
Halving weakness sees $206 million exit crypto funds, Bitcoin miners pivot to AI
Leading up to Friday’s Bitcoin (BTC) halving, investors opted to remain on the sidelines rather than increase their exposure to cryptocurrencies. CoinShares’ latest report on digital asset fund flows reveals that crypto funds experienced $206 million in outflows last week, while trading volumes for Exchange-Traded Products (ETPs) dropped to $18 billion.
James Butterfill, head of research at CoinShares, noted, “These volumes represent a lower percentage of total Bitcoin volumes (which continue to rise) at 28%, compared to 55% a month ago.” He attributed this decline in investor appetite to expectations that the Federal Reserve would maintain interest rates at elevated levels for a longer duration.
In terms of regional flows, the United States led the outflows with $244 million exiting incumbent ETFs by the week ending April 19. Butterfill highlighted that newly issued ETFs still received inflows, albeit at lower levels compared to previous weeks. Germany and Sweden saw outflows of $8.3 million and $6.7 million, respectively, while Canada experienced inflows of $29.9 million. Switzerland, Brazil, and Australia also witnessed inflows of $7.8 million, $5.5 million, and $2.2 million, respectively.
Butterfill observed that although Bitcoin saw outflows of $192 million, there were minimal flows into short-Bitcoin positions. Ethereum (ETH) experienced outflows of $34 million for the sixth consecutive week. However, multi-asset funds saw improved sentiment, attracting $8.6 million in inflows. Additionally, Litecoin (LTC) and Chainlink (LINK) received inflows of $3.2 million and $1.7 million, respectively.
The report highlighted that blockchain equities sustained their 11th consecutive week of outflows, totaling $9 million, as investors remained concerned about the halving’s impact on mining companies.
In a separate analysis of the post-halving crypto mining industry, CoinShares analysts suggested that many miners might transition to serving the artificial intelligence (AI) sector, which has become more lucrative. They anticipated a shift towards AI in energy-secure locations, potentially leading to Bitcoin mining operations relocating to stranded energy sites.
The analysts projected a 10% decline in the Bitcoin network’s hash rate after the halving as miners deactivate unprofitable ASICs. However, they expected the hash rate to reach 700 exahash (EH/s) by 2025. As of the current data, the Bitcoin hash rate stands at 596.22 EH/s.
The report also noted that substantial cost increases are anticipated due to the halving, with electricity and production costs nearly doubling. Mitigation strategies include optimizing energy costs, enhancing mining efficiency, and securing favorable hardware procurement terms. Miners are actively managing financial liabilities, with some utilizing excess cash to significantly reduce debt.
Source: kitco.com
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Blockchain
NYSE gauges interest in 24/7 stock trading like crypto
According to reports, the New York Stock Exchange (NYSE) is exploring the possibility of introducing round-the-clock trading, a model akin to that of cryptocurrency markets. In a bid to gauge market sentiment, NYSE’s data analytics team has circulated a survey among market participants. The survey seeks feedback on whether there is support for 24/7 or extended weekday trading hours and, if so, what measures should be implemented to safeguard traders against overnight price fluctuations. As of now, NYSE, alongside Nasdaq and the Chicago Board Options Exchange, operates from Monday to Friday, spanning from 9:30 am to 4:00 pm Eastern Time.
In the United States, assets like cryptocurrencies, United States Treasurys, foreign exchange, and major stock index futures are already tradable 24/7. Certain brokerages, such as Robinhood and Interactive Brokers, provide access to U.S. stocks throughout the week via a “dark pool” trading venue, catering to international retail investors during their local trading hours.
However, recent reports indicated that Robinhood suspended its 24-hour trading services amidst heightened tensions between Israel and Iran, prompting concerns among investors regarding the sustainability of continuous trading.
Effectively managing liquidity in a 24/7 trading environment has proven challenging for trading platforms within the cryptocurrency industry.
According to cryptocurrency research firm Kaiko, there’s often a mismatch between the operating hours of traditional financial institutions and the needs of major crypto traders and market makers. Traders frequently find themselves losing sleep during periods of extreme market volatility.
While the results of NYSE’s survey haven’t been revealed, Tom Hearden, a senior trader at Skylands Capital, conducted his own poll among his 19,300 followers, asking if they would support NYSE transitioning to 24/7 trading hours. Interestingly, over 70% of the 1,459 respondents voted “No.”
NYSE’s survey coincides with the efforts of startup firm 24X National Exchange, which is seeking approval from the Securities and Exchange Commission (SEC) to launch the first exchange in the country operating round-the-clock.
The FT said, citing two persons familiar with the subject, that the SEC has “months” to study the proposed rule change, and other relevant issues, such who should shoulder expenses and the function of clearing houses, are already being considered by other stakeholders.
“How loud they will be playing in the middle of the night is unknown to me. However, the decision of whether something is commercially feasible or not actually shouldn’t be made by the SEC, James Angel, a Georgetown University finance professor, told FT.
“I support letting the market make the decision. We’re all better off if it succeeds, and the exchange’s stockholders lose out if it fails.
After the company withdrew an application in March 2023, alleging operational and technological concerns, it is the second attempt to receive SEC clearance.
Source: cointelegraph.com
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Blockchain
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