International, national, and local government leaders, financial experts, and technology innovators will meet at the National Press Club in Washington, DC to discuss blockchain, cryptocurrency and the Future of Money, Governance, & the Law, strategizing their next steps.(January 27-28, 2022) This event is hosted by the Government Blockchain Association, (GBA), and will offer learning, strategizing, and collaborating. Participants will hail from hundreds of organizations including:
- Barclays Bank
- Central Reserve Bank of El Salvador
- European Commission
- Federal Deposit Insurance Corporation
- Federal Housing Finance Agency
- Federal Reserve Bank of Boston
- Kuwait Direct Investment Promotion Authority
- Massachusetts Division of Banks
- Maven Federal Credit Union
- Rhode Island Department of Business Regulation
- The Union of Arab Banks
- The World Bank
- U.S. Department of Homeland Security
- U.S. Department of the Treasury
- U.S. Congress
- United Nations
According to a Chainalysis report in October of 2021, the Global Crypto adoption worldwide increased by over 880% last year. These numbers are not driven by a few crypto whales, but more likely reflect the actions of over a billion people. This represents the beginnings of major shifts in economic, financial, and governance systems.
Blockchain technology, with its decentralized abilities, will cross borders, impacting national authority or even personal responsibility. Now, more than ever, government leaders need to collaborate to understand and address challenges to existing systems. Regulations must work locally and globally for people interconnected through new communities, technologies, and paradigms.
On the evening of January 28, the government and industry leaders will attend ‘The Roaring 20s’ evening reception in the Gatsby-like ambiance of St Yves DC, The GBA’s Roaring 20s Evening Reception will be an enchanting experience of networking in style. Guests will network with cryptocurrency mavericks, government policymakers, foreign ministers, and business moguls, all hoping to make the deal of the century. “The world only exists in your eyes. You can make it as big or as small as you want.” F Scott Fitzgerald
Klein Finance Announced the Completion of a Funding Round With Participation From KCC Chain and KuCoin-Ventures
Klein Finance, a stablecoin liquidity provider and exchange platform built on KCC (Kucoin Community Chain), announced the opening of its funding program. It has already received a multi-million dollars investment from KuCoin Ventures and KCC chain.
Klein Finance is an efficient decentralized trading platform for digital assets built on KCC (Kucoin Community Chain), which aims to enable digital assets to be traded and staked for rewards in a secure and stable on-chain environment with low slippage, good depth, and low fees.
1. Klein Finance’s mixed liquidity pool, which provides a cross-market mechanism for creating stablecoins, uses a license-free trading block at the bottom that can accommodate multiple stablecoins to non-stablecoins and multiple non-stablecoins to multiple non-stablecoins.
2. Trading mining and liquidity mining will be rewarded to traders, liquidity providers and partners according to certain reward rules, working together to achieve the goal of profitable agreements.
3. Klein Finance provides a cross-market mechanism for creating stablecoins, and the underlying uses a license-free trading block that can accommodate a wide range of exchange needs.
4. The dynamic pegging approach using AMM creates liquidity for assets that are not necessarily pegged to each other in a way that is more efficient than the invariance of (m-n=λ). This creates liquidity that is 5 to10 times higher than other traditional decentralized exchange invariants, while also generating higher profits for the liquidity provider.
It is understood that Klein Finance project technology development has been largely completed and the new funds will be used for project promotion and expansion of the team size, subsequent opening of the technology and expansion of its structured products. It is reported that Klein Finance’s financing plan will continue.
Metaverse Company RFOX Opens Regional Office in Dubai
RFOX, a leading metaverse startup, has selected Dubai as its regional office. The company plans to use Dubai as a hub for its expansion plans.
16 Mar 2022 – Dubai, United Arab Emirates: RFOX, a fast-growing metaverse company building the future of the Internet, has announced it has established a new regional office in Dubai. The company is currently domiciled in Southeast Asia and has carved out a reputation as one of the hottest blockchain companies.
What makes RFOX unique is the RFOX VALT metaverse, a virtual world that the company is building in virtual reality (VR), and its integration with the multiple other businesses the company has already built to create a vibrant ecosystem. The RFOX VALT is focused on shopping, retail, and entertainment experiences, offering users the ability to have new and immersive experiences with their favourite brands and celebrities in VR.
RFOX established a roadmap to build a metaverse two years ago. The Company’s plans accelerated once Facebook announced it was pivoting to become a metaverse-focused company called Meta. Fortunately for RFOX, its plans to build a metaverse were fairly advanced. RFOX is one of the few companies that have specifically targeted both retail and entertainment sectors for its metaverse focus. Analysts Emergen Research have identified both sectors to dominate the metaverse market, estimated at USD 1.6 trillion by 2030.
Co-founder and CEO, Ben Fairbank praised the Dubai government, especially its ruler Sheikh Mohammed Bin Rashid Al Maktoum, for the foresight and vision for virtual assets and the crypto industry. “We looked at multiple jurisdictions, and after careful review, we decided that Dubai was making great progress in giving users confidence in virtual assets. Dubai’s adoption of the Virtual Asset Regulation Law, the first law governing virtual assets, and the establishment of a regulator to oversee the sector will help facilitate the mainstream adoption of virtual assets. We also looked at the ecosystem in Dubai and found we were in good company with organisations such as Binance and Meta also taking up strategic positions in Dubai. We are optimistic about our future in the region”, said Ben Fairbank, CEO of RFOX.
RFOX is a metaverse company with a mission to be the global leader in immersive metaverse experiences focused on retail, media, gaming, and rewards, through the RFOX VALT metaverse. Since 2018, the company has built the RFOX ecosystem of products and solutions that include online games (RFOX Games), white-label NFT platform (RFOX NFTs), DeFi products (RFOX Finance), digital media platforms (RFOX Media and RFOX TV), and more. Its main token is RFOX, the digital asset that fuels the RFOX metaverse ecosystem and its immersive technology.
Bobcat Miner Launches Helium 5G Gateway to Mine HNT
California (March 15th, 2022) – Bobcat Miner, the leading manufacturer of Helium compatible hotspots, announced today that it will launch the Bobber 500 in April of 2022. The Bobber 500 will mine HNT cryptocurrency by providing both cellular and LoRaWAN wireless coverage. Partnered with FreedomFi and built using their firmware, the Bobber 500 will be plug-and-play compatible with all CBRS small cells that have been certified for the Helium Network.
Named after the over 400,000 people community of self-proclaimed “bobbers”, the Bobber 500 boasts an industrial-grade design with award-winning product durability and increased lifetime. Featuring 64GB storage and 4GB RAM, the Bobber 500 runs on the Intel 10nm Atom embedded CPU released in 2021.
“We’ve worked closely with FreedomFi engineering and security teams to ensure that Bobber 500 meets all quality and security standards required by the Helium data offload partners,” said Yiming Wang, Co-founder of Bobcat Miner. “Bobber 500 uses Trusted Platform Module technology to provide hardware-based encryption of all data on the system to ensure maximum capability.”
“We’re thrilled to see companies in the ecosystem such as Bobcat and FreedomFi work together to enable anyone and everyone to have access to decentralized wireless connectivity. This is just the beginning for Helium 5G,” said Frank Mong, the COO at Helium.
“We may have jump-started the crowd-sourced cellular concept by launching our own gateway and radio, but our ultimate goal is to enable other hardware manufacturers and small cell vendors to adopt open-source software powering decentralized wireless architecture,” said Joey Padden, CTO, and Co-founder at FreedomFi.
“Crowd-sourced cellular will be as disruptive to telecom as the Internet was to computing and we want to be the trusted partner to hardware vendors and telecom operators looking to navigate this space,” said Boris Renski, Co-Founder and CEO at FreedomFi. “We are honored to partner with #1 manufacturer in the Helium ecosystem to help launch Bobber 500 and look forward to a long-term relationship.”
March 3rd, 2022 marks the one year anniversary of Bobcat Miner’s global debut as an integrated service provider empowering the growth of the global decentralized blockchain community network. In 12 months, Bobcat Miner has delivered over 240,000 hotspots to “Bobbers” worldwide. This makes Bobcat the #1 manufacturer in the Helium ecosystem with over 30% market share of deployed Helium miners. During this same period, the Bobcat community has grown to more than 400,000 with over 43,000 active Discord members and it’s still growing. The Bobcat was voted as “The Favorite Hotspot” manufacturer of 2021 by the global Helium community.
All current and future small cells certified by FreedomFi will be compatible with the Bobber 500 following the launch of FreedomFi Gateway and FreedomFi One CBRS small cell. FreedomFi’s partnership with Baicells to certify a portfolio of small cells for plug-and-play compatibility with their FreedomFi firmware gives even more options to the Bobber 500.
About Bobcat Miner
Bobcat Miner is a globally integrated service provider committed to empowering the growth of a global decentralized blockchain community network with high-quality hardware and software products and services. Founded in 2021, Bobcat Miner’s Bobber series of high-efficiency miner hotspots for HNT are compatible with Helium LongFi, an architecture that combines the leading wireless LoRaWAN, 5G protocols and Helium Blockchain technology. To learn more, please visit https://www.bobcatminer.com.
FreedomFi is an open 5G company, focused on the development of open source software and Web3 protocol interfaces that enable crowd-sourced deployments of 5G small cell networks. Founded by open-source software veterans, the company is one of the top contributors of code to project Magma, which is governed by the Linux Foundation and is quickly emerging as the standard platform for crowd-sourced wireless infrastructure. FreedomFi is venture backed by Blueyard Capital, Qualcomm Ventures, and Samsung Next.
Helium is a pioneer in decentralized wireless networks. The company developed the world’s first peer-to-peer wireless network, the Helium Network, which connects IOT devices to the internet by incentivizing hotspot hosts to provide coverage. Co-founded by Shawn Fanning and Amir Haleem and backed by GV, Khosla Ventures, Union Square Ventures, Multicoin Capital, FirstMark, and Marc Benioff, the network is live today in more than 3,600 cities throughout North America and Europe with expansion into Asia underway.
Vesta Equity Launches Global Real Estate NFT Marketplace on Algorand
Vesta Equity, an innovator in the financial and real estate space, is announcing the launch of their global real estate-backed NFT platform and marketplace on Algorand. Vesta is the world’s first peer-to-peer marketplace for real estate-backed NFT assets that allows homeowners to easily leverage and sell a portion of home equity while simultaneously advancing housing affordability, economics, and frictionless investor accessibility to residential real estate.
Vesta’s solution allows property owners to easily access the value of their holding through tokenization and selling percentages of real estate-backed NFTs to investors on its peer-to-peer marketplace. In turn, investors can browse a searchable marketplace, make offers for desired assets, and leverage liquidity on the secondary market or in the event of the traditional sale of the property.
Their goal is a 100% seamless and automated process in which the century-old-complexities of home equity finance are removed. Vesta addresses the issue of real estate affordability while eliminating barriers to the market for all investors, democratizing wealth creation by providing unhindered access to this bedrock of wealth creation.
To date, NFTs have been focused largely on digital assets. Vesta Equity directly couples a real-world, tangible asset and established values with the advantages of digital distributed technology. Vesta Equity developed its NFT platform and marketplace on Algorand because it is purpose built as a fully decentralized, scalable, and secure blockchain that surpasses all other platforms thanks to its novel pure proof-of-stake foundation and its focus on enabling the transition from traditional finance models to the distributed future.
“Imagine a world where with a few clicks of your mouse you can access the entire accumulated value of the equity in your home without incurring debt or selling and moving,” said Michael Carpentier, CEO of Vesta Equity Inc. “At the other end, investors can participate by purchasing into the future appreciation of the property and build a portfolio of real estate assets like they do with stocks. With the forecasted rising value of residential real estate this is an extremely desirable asset class that we have simplified for anyone to leverage.”
“Vesta Equity is totally innovating the home equity market,” said Imran Rahaman, COO of Vesta Equity. “With today’s launch, we become an example of a company using blockchain for what it was designed: to remove friction from traditional exchange of value systems, and to open up new financial opportunities for people everywhere.”
For more information on Vesta Equity and their home equity financing solution, please visit: https://www.vestaequity.net. To sign up as a property owner and access the equity in your home or as a property investor to build a portfolio of real estate assets, please visit: https://vestaequity.net/sign-up/. Follow us on twitter @vestaequityvpm.
For more information on Algorand please visit: https://www.algorand.com/.
About Vesta Equity
Vesta Equity is building the future of home equity financing. Homeowners and property investors traditionally tethered to age-old institutionalized financial practices will be free to manage their assets and investments to serve them best. Through tokenization and Vesta Equity’s Property Marketplace, homeowners and investors will be able to deal directly with each other without using intermediaries that carry burdensome costs, one-sided terms, and risks. Vesta Equity’s proprietary approach of coupling tokenization with smart contracts will enable homeowners to sell a portion of their home to investors while retaining their residency. For the homeowner, it means no more debt, compounding interest, and monthly payments. Investors will now have the freedom and ease of access to build and manage a portfolio of property types across geographies and partake in property appreciation with 100% asset transparency. Vesta Equity is enabling an open market integrated with blockchain’s immutability to create a more inclusive and dynamic model for the multi-trillion-dollar global home equity market
Algorand is building the technology to power everything from the creator economy to the convergence of traditional and decentralized finance. Founded by Turing Award-winning cryptographer Silvio Micali, Algorand developed a blockchain infrastructure that offers the interoperability and capacity to handle the volume of transactions needed for anyone to transition into the new digital economy. The leading decentralized infrastructure of choice for visionary leaders across more than 1000 global organizations, Algorand is enabling the simple creation of next generation financial products, protocols and exchange of value. For more information, visit www.algorand.com.
Dune Analytics Closes $69,420,000 Series B Led by Coatue
Dune Analytics (“Dune” or “the Company”), a community-first web3 analytics platform, today announced it has raised $69,420,000 in a Series B round led by Coatue, with additional participation from existing investors including Multicoin Capital and Dragonfly Capital. This latest round values the Company at $1 billion, following its $8M Series A which was conducted in August 2021.
Dune makes on-chain crypto data accessible and consumable through its community-powered platform. The Company provides state-of-the-art tools that allow data to be extracted, queried, dissected, and visualized in the form of real-time dashboards. Dune will leverage the funds to create an infrastructure that distributes financial rewards for user-generated content, attracting and incentivizing engagement from up to one million new web3 analysts, known as Dune Wizards, within the community. Dune Wizards will not only be able to create customized visualizations that communicate real-time on-chain intelligence, they will also receive financial compensation for their ongoing engagement and contributions.
Dune Analytics Co-founder and CEO, Fredrik Haga, commented, “Despite being radically open, web3 data remains largely underutilized. At Dune, we want to make this intelligence readily accessible and reward the analysts working to turn this data into digestible, real-time actionable insights. In legacy finance, only insiders get access to valuable data. Dune supports the next generation of analysts who will neither wear suits nor work for investment banks. Instead, these pioneers will have quirky animals as profile pictures and collaborate openly across the world. Being a Dune Wizard will be both more fun and profitable than being a Wall Street analyst.”
Adoption of real-time analytics, dashboard visuals, and automated reporting is thriving throughout legacy finance, having generated ~$14 billion in revenue in 2021. In the crypto community, however, usage is still nascent.
Blockchains are a globally shared public backend where thousands of apps and millions of transactions and apps create vast amounts of data every day. This open data represents an opportunity that is many times bigger than any data analytics business or product the world has seen to date. There are a ton of insights in crypto data, but without skilled and incentivized analysts coupled with great data tooling, those insights will remain hidden beneath the surface.
Dune Analytics is advancing data literacy across the crypto marketplace, opening up access to insights that are otherwise only made public on a quarterly basis in legacy finance.
The Company’s platform currently supports data queries for five blockchains: Ethereum, Polygon, Optimism, Binance Smart Chain and xDAI, with plans to incorporate all Layer-1 and Layer-2 smart contract platforms.
“Ever-increasing amounts of capital flows through the crypto ecosystem, in turn producing extremely valuable data. The Dune community is extracting knowledge from this data at scale. Dune will provide the necessary tools so that users of all skill levels will be able to conduct more thoughtful, impactful analysis and gain deeper insight into the ever-evolving world of web3,” noted Dune Analytics Co-founder and CTO, Mats Olsen. “We’ve got an exciting roadmap ahead to continuously improve our community-first platform. We hope to enable a 100x performance increase this year, and in time, our application will support more collaborative features for teams, APIs and support for every major crypto network.”
Funds from the raise will be used to educate, reward, and foster a new generation of analysts, who will be empowered with real-time, actionable insights into web3 data. To date, more than 10,000 analysts have created 100,000 pieces of analysis on Dune that cover a wide range of metrics, enabling users to take full advantage of previously inaccessible data. Utilizing the platform’s inherent flexibility; users can create industry-specific analyses with live insights, such as OpenSea NFT trading volume, and customizing dashboards with comprehensive financial reporting (i.e. balance sheets and P&L statements).
Coatue: “As investors, we make extensive use of data in our decision-making process. Dune – powered by its community of analysts – furthers and enables crypto’s promise of making professional-grade data and analysis open and accessible to all. We are thrilled to be partnering for the next phase of the journey.” – Kris Fredrickson, Managing Partner at Coatue
Dragonfly Capital: “Open, auditable data is one of the key components that makes web3 different from web2. Dune continues to be the first place people go to get data on the hottest new projects in web3 and go deeper on existing ones. We’re avid Dune users and we’re excited to keep supporting the team as they build the future of transparent, community-driven data analysis.” – Tom Schmidt, Partner at Dragonfly
Multicoin Capital: “The vast majority of blockchain data is either on chain, held behind a subscription, or forced through a specific lens. Dune is the only analytics company that provides open, unfettered access to blockchain data in a composable, remixable way. The future of finance will be open, real time and community driven. Dune Analytics understands this at a fundamental level and as a result has become an integral part of the fabric of web3 communities.” – Kyle Samani, Managing Partner at Multicoin Capital
About Dune Analytics
Dune Analytics is a community-first web3 analytics platform founded in Oslo, Norway. Its mission is to make crypto data accessible. The open crypto analytics platform enables anyone to query, share, fork, remix and collaborate on data charts and dashboards. Dashboards can include metrics like DEX trading volumes, DAO financial statements, NFT trades and more.
Music Industry Executives and Rock Legends Come Together to Launch New Digital Marketplace MUSICART
Three music industry executives have come together to launch a ground-breaking platform, MusicArt, which uses cutting edge blockchain and NFT technology to revolutionise the way we appreciate music artwork, old and new.
“MusicArt is a unique new NFT platform focused solely on celebrating music-based art and imagery, making it the perfect environment for musicians to trade their visual art without fear of it being lost in a sea of NFTs in unrelated genres on other platforms.” – Peter Ruppert, CEO MusicArt
By running on the BSV blockchain, MusicArt is primed as the industry frontrunner in terms of royalty payment systems and environmentally friendly operating systems. Using 10,000 times less energy than Ethereum, and beating out leading banking and financial systems, BSV enables MusicArt to work ‘On-Chain’ meaning that all NFTs and corresponding metadata are minted as STAS tokens stored directly on the blockchain, and also the artwork itself is stored on the blockchain. This non-custodial service puts power back in the hands of users allowing them to trade directly from their wallets without the need for intermediaries. Built by Vaionex, MusicArt is the first NFT marketplace using TAAL’s STAS token technology, directly preventing loss of access to user’s art in the event that third-party hosts go down.
By operating on-chain, MusicArt is also able to pay out royalties instantly to creators and artists. Where other marketplaces manage royalties manually resulting in infrequent and random pay-outs, MusicArt users can be reassured by a reliable and secure payment system. Creators on the platform will earn income from initial sales of their NFTs, as well as instantaneous royalties (10-20%) on any resale on the service.
MusicArt is committed to opening up the world of digital trading to newcomers. By accepting a variety of cryptocurrencies and taking care of Gas fees for the user, the platform makes NFT dealing more accessible than ever.
Forward facing, MusicArt also employs BSV for its scalability. Managing up to 100,000 transactions per second, BSV far beats out the 30 per second on Ethereum and competing blockchains.
“In the rapidly developing world of NFT technology, MusicArt is looking forward not only in terms of the platform’s success but its effect on the environment. With MusicArt, creators can enjoy a reliable new revenue stream without the worry of consequence to the planet.” – Peter Ruppert, CEO MusicArt
The platform champions works from legacy and new artists alike. On launch, MusicArt boasts exclusive pieces from art rock icons. These include the works of contemporary music art pioneer Mike Dubois (The Grateful Dead, The Allman Brothers Band, Fleetwood Mac, The Rolling Stones), record sleeve legend Ioannis (Blue Oyster Cult, Deep Purple, Starship), and psychedelic photographer Karl Ferris (Eric Clapton, Cream, Jimi Hendrix).
The initiative is championed by Peter Ruppert, former Head of Music at MTV and independent consultant to major Music & Media companies; Jeff Golembo, who has held managerial positions at Sony and Universal and was formerly MD at MCA Records; Hugh Goldsmith, former RCA MD and Innocent Records Founder; plus Dirk Brockhausen PhD, Physicist, Developer, and Blockchain expert. MusicArt is launched in co-operation with ground-breaking innovative independent artist portals Jamma Music & Aurovine.
Fang Launches Genetic Designer Cannabis Brand With Sold-Out Diamond Fruit Seeds
Michael Fang, an innovative breeder known within the cannabis industry as FANG, has presented a new brand called Genetic Designer with a focus on boutique cannabis genetics. After a tragic falling out with his partner, FANG and the Gage Green Group team have carried forward into the new year with eight sold-out seed releases.
FANG and Genetic Designer will focus on releasing artisanal cannabis genetics. FANG’s recently-announced Diamond Fruit project, featuring two heirloom Kush lineages, has a retail price of $2,000 per pack of ten seeds from Authorized Dealers.
Diamond Fruit is FANG and Genetic Designer’s first release. Only twenty hand-selected packs of seeds were made available. As of January 8, the Diamond Fruit release has sold-out at Authoried Dealers.
Genetic Designer’s next release, Tiger’s Eye, slated for Chinese New Year, is limited to only thirteen packs. The company focused on connoisseurs who value the artistry behind cannabis—specifically those who care about the process and demand the finest quality.
Michael Fang is a breeder of multiple High Times Cannabis Cup winners. Genetics produced by FANG can be seen in the work of many famous seed companies and grown in world-class boutique gardens across the industry.
“We don’t skip any steps. In fact, our process ensures genetic potency and quality,” stated FANG, founder of Genetic Designer and Green Gage Group. “Our team has the insight, attention to detail, and passion that is required to put superior cannabis into the market. Because of our hard work and dedication to our craft, our seeds have become internationally-recognized for providing superior results.”
FANG will continue his prolific breeding style under his own personal brand, using the same focus on boutique and craft that made Gage Green Group a worldwide phenomenon. In addition to continuing his success in the cannabis industry, Fang has delved into the realm of non-fungible tokens (NFTs). Last year, FANG pioneered the first cannabis genetics-based NFT deal which sold for just under $20,000 USD.
FANG will operate the Genetic Designer team while simultaneously managing the Gage Green Group. With two brands to manage, FANG will use his creative focus and cannabis knowledge to explore the depths of cannabis design and innovation.
To learn more about Michael Fang, visit https://www.fangjieshen.com.
How Watch Trading Co․ Amplifies Luxury Watches Into Prime Investment Opportunities
While much to-do has been made over the long-term investment potential of luxury women’s handbags like Hermès Birkins and Chanel Classic Flaps, the potential value accruement of men’s accessories has been much more under the radar. Though certain models from acclaimed brands like Rolex, Patek Phillipe and Audemars Piguet have made headlines for their major price tags, the public of men’s consumers is undeniably further in the dark about their potential return on investment than their female counterparts. Acting as a catalyst for change in this regard is well-known timepiece retailer Watch Trading Co., whose rotating stock of sought-after wristwatches makes securing a long-term ROI on popular models both streamlined and secure.
Though equally as appealing to experienced watch aficionados and collectors, Watch Trading Co.’s user-friendly platform allows novices to the timepiece scene to easily navigate their various purchase options. Featuring a range of some of the rarest and most in-demand models and colorways, Watch Trading Co. provides investment opportunities that can appreciate in value by huge numbers – like the Rolex Daytona, which has an MSRP of $13,150 but can sell on secondary markets for nearly triple the price.
“It’s definitely been interesting to witness just how in-demand these watches are. Currently there is such a premium on certain dials. You can have two of the same watches and one could be worth $30,000 more if it has a dial that is currently trending. If the dial is a discontinued one, some of them are doubling, even tripling in their value,” said Watch Trading Co. “So our customers are not only feeling good about their purchases, but also feel like they made a good investment.”
While a major key is getting your hands on a watch model before inflation and demand skyrockets the price up, aspects like condition likewise have an important impact on eventual ROI. With Watch Trading Co.’s seasoned expertise, consumers can ensure all timepieces purchased from the retailer are in top condition and top quality, subsequently backed by Watch Trading Co.’s authenticity guarantee and door-to-door shipping insurance. Plus, the company’s extensive knowledge on day-to-day market fluctuations guarantees the best price-per-value ratio aligned with the current global marketplace at the point of purchase.
As luxury watches continue to gain renown for their long-term lucrativeness, Watch Trading Co. is leading the pack as a trusted source for men’s timepiece investment opportunities.
LUXXFOLIO Announces Purchase Order and Financing of Immersion-Cooling System
LUXXFOLIO Holdings Inc. (the “Company” or “LUXXFOLIO”) (CSE: LUXX) (OTCQB: LUXFF) is pleased to announce that on November 25, 2021, through its wholly- owned subsidiary Westblock Capital Inc. (“LUXX Mining Division”), it has finalized the order with CES Corporation (“CES”) on the immersion-cooling system (the “Immersion System”), as previously announced on November 10, 2021.
The purchase price of the Immersion System (the “Purchase Price”) will be paid in part by cash and the issuance of 612,000 common shares of the Company at a deemed price of $0.83 per share. Cypress Hills Partners Inc., or one of its affiliates, (“CHP”) has agreed to provide LUXX Mining Division with a senior secured loan facility to finance the cash portion of the Purchase Price (the “Facility”). LUXX Mining Division will be able to use the Facility to acquire future bitcoin mining equipment as well.
Ken MacLean, President of the LUXX Mining Division commented, “This Facility provides us with increased flexibility to continue our aggressive expansion plans in 2022 and to be opportunistic in our fixed asset purchases.”
The terms of the Facility will include:
- up to a maximum of $3M, which may be increased to $5M if agreed to by both parties;
- a maturity date of 24 months after closing, at which time all outstanding obligations of the borrower become due and payable;
- secured by a general security agreement over borrower and its subsidiaries, and a first charge on equipment used for crypto mining;
- a variable interest rate to be paid monthly; and
- a 0.75% facility fee.
CHP, LUXX Mining Division, and the Company have certain common directors, officers, and insiders. As such, the Facility is a related-party transaction as defined in Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Based on Section 5.5(b) of MI 61-101, the Company is exempt from having to obtain a formal valuation. The Company has also relied upon Section 5.7(1)(a) of MI 61-101 to be exempt from the minority approval requirement on the basis that neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Facility exceeded 25 per cent of the Company’s market capitalization. The Company did not file a material change report 21 days prior because the details of the Facility had not been confirmed at that time.
LUXXFOLIO Holdings Inc. is a publicly-traded vertically-integrated digital asset company based in Canada. We operate an industrial scale cryptocurrency mining facility in the United States, powered primarily by renewable energy, with a focus on the blockchain ecosystem and generation of digital assets. LUXXFOLIO provides a liquid alternative for exposure to digital assets for the broader capital markets.
Xinhua Silk Road: 2021 Annual conference of Financial Street Forum to kick off in Beijing on Wed
The 2021 Annual Conference of Financial Street Forum is set to open on Wednesday in Beijing, the organizer said at a press conference. The three-day event with the theme of “economic resilience and financial actions” will highlight more diverse topics, while more overseas participants are expected compared with last year. It will include five parallel forums in which participants can exchange ideas on real economy and financial services, green development and financial contribution, the opening-up of the financial sector and global financial cooperation, financial technology (fintech) and digital economy, and governance system and financial security.
Nearly 400 participants from home and abroad will focus on discussing hit topics such as ‘dual circulation’ development paradigm. It is noted that the forum has attracted over 140 foreign participants, a year-on-year increase of 130 percent, from 32 countries and regions. Most forums concerning global issues will feature keynote speeches from foreign experts.
Besides, special activities such as expo on digital RMB and fintech regulatory tools will also be held during the forum.
Founded in 2012, the forum is jointly organized by the People’s Government of Beijing Municipality, the People’s Bank of China (PBOC), Xinhua News Agency, China Banking and Insurance Regulatory Commission (CBIRC), China Securities Regulatory Commission (CSRC), and State Administration of Foreign Exchange (SAFE), hailed as a bellwether of China’s financial reform and development.
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