Digital Asset DirectWhat's Trending Now - Summer Must-Haves
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Contact Details Karl Wayne +1 334-440-6397 karl@newsmg.com Company Website https://newsmg.com/
July 03, 2024 04:42 PM Eastern Daylight Time
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News ReleaseHTX Ventures Invests in RedStone Oracles to Expand Modular DeFi Infrastructure
HTX Ventures
Singapore / July 2, 2024 – In support of a more efficient and user-friendly DeFi market, HTX Ventures, the global investment arm of the cryptocurrency exchange HTX, has announced a strategic investment in RedStone. RedStone is one of the fastest-growing modular oracles in 2024 that delivers diverse, high-frequency data feeds to EVM Layer1, Layer2, Rollup-as-a-Service networks, and beyond, including Starknet, Fuel Network, and TON. RedStone's modular nature enables it to provide data feeds that are unavailable elsewhere, specializing in yield-bearing collateral for lending markets, especially LSTs and LRTs. Its modular pricing engine ensures the highest accuracy and relevance by consistently updating. Moreover, RedStone is chain-agnostic, meaning it can push data to numerous EVM and non-EVM ecosystems, rollups, and various app chains. This makes it an ideal partner for Rollup-as-a-Service providers and Eigenlayer AVSes. Currently, RedStone's Total Value Secured (TVS) has grown to $4 billion, expanded to over 60 chains, and served more than 100 clients such as EtherFi, Pendle, Morpho and Ethena. RedStone recently closed its $15 million Series A round, led by Arrington Capital. The funds will be used to expand the Marketing and Business Development divisions, fueling an extensive Q3/Q4 growth pipeline. RedStone is currently testing Oracle Extractable Value (OEV) implementation, scheduled for trial with customers in the coming months, and preparing for the launch of its native token later this year. "RedStone is introducing an exciting advancement to DeFi with its modular design," said Edward, Managing Partner at HTX Ventures. "DeFi users will benefit from new and precise data feeds, as well as push and pull data services. RedStone's chain-agnostic feature allows it to provide services across various layers. At HTX Ventures, we are thrilled to witness new innovations within the oracle space and are eager to collaborate on building better infrastructure and tools for DeFi." Jakub Wojciechowski, CEO of RedStone Oracles, commented, "This Series A round gives us ample financial runway to broaden our suite of services while bringing reliable real-world data to a host of blockchain-based protocols. Sincere thanks to our investors and community for their fervent support, and believe me when I say - we are just getting started." RedStone is also preparing for the upcoming launch of Season 2 of RedStone Expedition – an interactive community engagement initiative giving participants the chance to accumulate RSG (RedStone Gems) points through a diverse array of activities. Interested parties can sign up here: RedStone Expedition. About RedStone RedStone is a modular oracle delivering diverse, high-frequency data feeds to EVM Layer1, Layer2, Rollup-as-a-Service networks, and beyond, i.e., Starknet, Fuel Network, or TON. By responding to market trends and developer needs, RedStone can support assets not available elsewhere. The modular design allows for data consumption models adjusted to specific use cases, i.e., capital-efficient LSTfi and early support of LRTs. Trusted by Pendle, Morpho, Venus, Ethena, ether.fi & more. About HTX Ventures HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice. HTX Ventures presently backs over 200 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most vigorous Fund of Funds (FOF) investors, HTX Ventures collaboratively forges the blockchain ecosystem alongside premier global blockchain funds, including IVC, Shima, and Animoca. Contact Details EE glo-media@htx-inc.com Company Website https://www.htx.com/en-us/ventures
July 02, 2024 11:09 AM Eastern Daylight Time
News ReleaseBlockmate Ventures subsidiary Hivello partners with IoTeX: new blockchain integration
Blockmate Ventures Inc
Blockmate Ventures Inc (TSX-V:MATE, OTCQB:MATEF) and Hivello chairman Domenic Carosa joined Proactive's Stephen Gunnion with details of Hivello's new strategic partnership with IoTeX. Carosa explained that Hivello, a DePIN aggregation platform, will integrate the IoTeX blockchain, allowing new DePINs launched on IoTeX to be supported by Hivello. IoTeX, a leading layer one blockchain in the DePIN space with a market cap of $380 million, will promote Hivello to its global user base. "Hivello is already in the process of integrating IoTeX because of the great DePINs on their blockchain," Carosa said, emphasizing the eco-friendly approach of DePIN and likening it to the sharing economy where users can share their computer resources and get paid, contributing to building a decentralized network. Hivello targets consumers with spare desktops and laptops and plans to expand to enterprises. The company aims to create a vibrant and inclusive DePIN ecosystem, offering a sustainable alternative to throwing away unused tech devices. Carosa also mentioned Hivello's recent $2.5 million raise and the ongoing $4.5 million raise at a $30 million pre-money valuation, co-led by Animoca Brands and Blockchain Founders Fund. The funds will be used to build technology infrastructure and acquire customers. For more insights and updates from Blockmate Ventures and Hivello, visit Proactive's YouTube channel. Don’t forget to like the video, subscribe to the channel, and enable notifications for future content. Contact Details Proactive North America +1 604-688-8158 na-editorial@proactiveinvestors.com
July 02, 2024 10:17 AM Eastern Daylight Time
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News ReleaseBit Digital expands HPC contract to $275M, CEO Sam Tabar explains
Bit Digital Inc
Bit Digital Inc (NASDAQ:BTBT) CEO Sam Tabar speaks to Proactive's Stephen Gunnion about the contract expansion with an existing high performance computing (HPC) customer, increasing the value to about $275 million. The market has positively responded to this news, significantly boosting the company’s shares last week. Initially deploying 2,048 GPUs in January, the client has now doubled the size of the fleet, representing about $92 million per year, locked in for three years. Tabar detailed that this computational power is essential for clients building large language models (LLMs) and AI applications. Bit Digital offers a customized approach, leveraging Nvidia H100 chips and collaborating with Dell and Supermicro for their deployments. This specialized equipment is hosted in data centers with unique capabilities, located in places like Iceland. Looking ahead, Tabar emphasized the company's growing opportunities in the HPC AI vertical, citing a robust pipeline of clients eager for their services. "We have a very pregnant pipeline of opportunity... it's all been reverse inquiry," he noted. Bit Digital plans to streamline its processes by hiring a head of revenue to manage the increasing demand. Visit Proactive's YouTube channel for more videos. Don't forget to give the video a like, subscribe to the channel, and enable notifications for future content. Contact Details Proactive North America +1 604-688-8158 na-editorial@proactiveinvestors.com
July 02, 2024 10:15 AM Eastern Daylight Time
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News ReleaseBitcoin Miner SATO Technologies (OTC: CCPUF) (TSX.V: SATO) Reports Record-Breaking Q1 Performance, Eyes Set On Growth
SATO Technologies Corp.
By Gerelyn Terzo A renewed excitement emerged in the cryptocurrency market after the Bitcoin price reached a new ATH of $73,700, causing many prognosticators to dust off their bullish forecasts for the leading digital asset. After a period of sideways trading, owing in part to hype around artificial intelligence, cryptocurrencies seem to be getting their groove back, thanks largely to a successful Bitcoin halving as well as the regulatory green light for spot exchange-traded funds (ETFs). As a result, and despite market volatility, Bitcoin mining seems to have returned with a vengeance as industry players jockey for their share of the pie. One company that stands out as an under-the-radar player (which we discussed previously here ) in this resurgence is Toronto-based SATO Technologies (OTC: CCPUF) (TSX.V: SATO), a small-cap Bitcoin miner founded in 2017 that has consistently emphasized strong fundamentals in this budding industry. SATO reported first-quarter results on May 21, setting new records on both the top and bottom lines. These results demonstrate SATO’s financial position among comparable Bitcoin miners as well as its ability to capitalize on growing demand. First-Quarter Results Break Company Records SATO generates 20 MW of energy for Bitcoin computing power, producing approximately 0.1% of the Bitcoin network’s total mining power — which equates to around 0.6 EH/s. The all-in power cost is $48,492 per Bitcoin, post-halving, according to the company’s latest monthly update. ( see the last company monthly update here ) SATO also reported a standout first quarter filled with growth in revenue and operating cash flow, both of which have been steadily rising over the past several years with only minor interruptions. This performance is noteworthy since SATO operates in a capex-heavy industry, making its access to the public markets a key benefit. SATO reported record revenue of C$5.9 million, a 51% increase compared with Q1 2023 results. Additionally, SATO flipped to a profit, reporting net earnings of C$3.9 million vs. a net loss in the year-ago period, a turnaround of 865%. Meanwhile, EBITDA came in at almost C$5.0 million, a 333% spike compared with Q1 2023. SATO seems to be firing on all cylinders, with operating cash flow exceeding the C$400,000 level and a cash and digital asset balance of C$7.3 million. Romain Nouzareth, Co-Founder, Chairman and CEO of SATO, on an earnings call, pointed to the company’s “industry-leading mining efficiency” coupled with its “prudent cost structure” for the results, displaying confidence in positive momentum set to continue well beyond the Bitcoin halving. One of the keys to SATO’s success has been its ability to prioritize efficiency around energy consumption and costs, utilizing renewable, well-priced and stable sources of power from Quebec. To this end, SATO has developed its own data center or mining farm, from which it’s transforming its own energy and another 6 MW of power equipment ready to deploy to support future expansion. As a Bitcoin miner, SATO is not immune to the volatility of BTC prices. However, by maintaining a strong HODL strategy and implementing growth plans, SATO is committed to staying efficient and resilient, ensuring survival and success regardless of market conditions. SATO Eyes Role In AI Innovation As of 2023, SATO reports that it represented approximately 0.10% of the total Bitcoin mining network. However, the company’s management is focused on going as far as they can as quickly as they can in what Nouzareth has described as a new era for computing power. One way in which it plans to do this is by entering into the artificial intelligence (AI) race in the near future, where it will explore using its computer networks to support AI innovation. This is a growth avenue that operating its own data centers allows SATO to consider. For the remainder of 2024 and the long term, SATO is highly focused on growing its hashrate by expanding its fleet of miners and access to power while fine-tuning current operations with AI and high performance computing (HPC) upgrades leading the charge. Whatever the future holds, SATO plans to “go big,” a strategy that seems to have paid off for the company so far. Featured photo by BrianPenny on Pixabay. SATO, founded in 2017, is a publicly listed company providing efficient computing power. The Company currently operates a data center tailored to produce compute power for Bitcoin Mining, but may look to expand or add additional data centers for computing power for Bitcoin Mining, High Power Computing (“HPC”), Artificial Intelligence (“AI”), and L2’s. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Cautionary Statement Regarding Forward-Looking Information This news release contains certain forward-looking statements, including statements relating to the future performance of the Company, and other statements that are not historical facts. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Contact Details Yujia Zhai +1 860-214-0809 yujia@orangegroupadvisors.com Company Website https://www.bysato.com/
July 02, 2024 08:45 AM Eastern Daylight Time
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News ReleaseCommunication Services Select Sector SPDR Fund (XLC) Adapts to the Evolving Digital Economy
Select Sector SPDR
In a world increasingly driven by digital communication and information delivery, the Communication Services Select Sector SPDR Fund ( XLC ) is maintaining its focus on the communication services sector. This Exchange-Traded Fund (ETF) is tailored for those interested in engaging with the digital economy, providing exposure to companies leading in telecommunications, media, and entertainment within the S&P 500 index. Portfolio Highlights XLC's portfolio, with an expense ratio of 0.09%* showcases a diversified selection of companies that are central to the current digital transformation. Key holdings** include: Meta Platforms (Facebook): 22.53% Alphabet (Google) Class A: 12.62% Alphabet (Google) Class C: 10.57% AT&T: 4.78% Comcast: 4.61% These entities, along with others such as Verizon (4.58%), Electronic Arts (4.52%), Netflix (4.44%), T-Mobile US Inc. (4.41%), and Walt Disney (4.38%), represent a cross-section of the sector. The mix of technology firms, telecommunication leaders, and media companies offers a reflection of the communication services sector's landscape. Observing the Digital Shift The strength of the digital economy is underscored by the robust use of digital services across various aspects of business and personal life. Trends such as high volume internet traffic, the popularity of streaming services, advancements in mobile technology, and the introduction of new communication products illustrate the sector's dynamic nature. In response to these trends, the Communication Services Select Sector SPDR Fund (XLC) focuses on aligning its portfolio with the evolving demands and opportunities within the digital and communication services domain. It aims to provide a means for investors to engage with this sector with components of the S&P 500 Index. As the digital economy continues to evolve, XLC is positioned to observe and adjust to the evolution of the digital world, bolstering its commitment and emphasis on staying relevant within the fast-paced landscape of communication services. DISCLAIMER: This is a work of research and should not be taken as investment or financial advice. Therefore, Select Sector SPDRs or the publisher is not liable for any decision made based on the publication. About the Company: Select Sector SPDR ETFs offer flexibility and customization opportunities. Many investors have similar outlooks, but no two are exactly alike. Select Sector SPDR ETFs let investors select the sectors that best meet their investment goals. *Ordinary brokerage fees apply **Holdings, Weightings & Assets as of 6/30/24 subject to change DISCLOSURES The S&P 500 Index is an unmanaged index of 500 common stocks that is generally considered representative of the U.S. stock market. The index is heavily weighted toward stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. The S&P 500 Index figures do not reflect any fees, expenses or taxes. An investor should consider investment objectives, risks, fees and expenses before investing. One may not invest directly in an index. Transparent ETFs provide daily disclosure of portfolio holdings and weightings All ETFs are subject to risk, including loss of principal. Sector ETF products are also subject to sector risk and nondiversification risk, which generally will result in greater price fluctuations than the overall market. Diversification does not eliminate risk. An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus, which contains this and other information, call 1-866-SECTOR-ETF (732-8673) or visit www.sectorspdrs.com. Read the prospectus carefully before investing. ALPS Portfolio Solutions Distributor, Inc., a registered broker-dealer, is distributor for the Select Sector SPDR Trust. Media Contact: Company: Select Sector SPDRs Contact: Dan Dolan* Address: 1290 Broadway, Suite 1000, Denver, CO 80203 Country: United States Email: dan.dolan@sectorspdrs.com Website: https://www.sectorspdrs.com/ *Dan Dolan is a Registered Representative of ALPS Portfolio Solutions Distributor, Inc. ALPS Portfolio Solutions Distributor, Inc., a registered broker-dealer, is the distributor for the Select Sector SPDR Trust. SEL007623 EXP 9/30/24 Contact Details Dan Dolan +1 203-935-8103 dan.dolan@sectorspdrs.com Company Website https://www.sectorspdrs.com/
July 02, 2024 05:00 AM Eastern Daylight Time
News ReleaseSnapchat Releases New Teen Safety Measures
YourUpdateTV
A video accompanying this announcement is available at: https://youtu.be/7Hv0EHNRJ_g The digital world can be a challenge to navigate, and helping keep teens safe online is not just a priority—it’s a necessity. Snapchat is working to make its app even safer—now expanding a range of features to help keep Snapchat a place where people can be comfortable expressing themselves with the friends they know in real life. These extra protections for young people are more than a tech upgrade—they’re part of Snapchat’s ongoing commitment to building tools to help users connect with friends in a safe, secure way. Rachel Hochhauser, Snap’s Head of Safety Operations Outreach, conducted a nationwide media tour on June 25th to discuss these new features. Topics and features she discussed included: · Expanded In-app Warnings Teens will now see a warning message if they receive a chat from someone who’s been blocked or reported by others or is from a region where the teen’s network isn't typically located – signs that the person may be a stranger. · Simplified Location-Sharing Expansion of reminders to make sure Snapchatters are always up to date on which friends they’re sharing their location with on the Snap Map. · Enhanced Friending Protections These protections prevent certain suspicious friend requests from getting to teens in the first place, further reducing teens’ ability to connect with people they may not know in real life. · Blocking Improvements Improvements aim to prevent bullying and repeated harassment by limiting outreach from any new accounts created by someone who’s been blocked. For more information, visit https://parents.snapchat.com/ Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com
July 01, 2024 01:02 PM Eastern Daylight Time
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News ReleaseStack Identity Announces Expansion of Its Identity-First Platform to Address Non-Human Identity Governance
Stack Identity
Stack Identity, a leader in identity security, announces a significant expansion of its platform to include non-human identities. This enhancement addresses the growing needs of modern enterprises in managing and securing digital identities, thereby bolstering identity security posture, threat detection, and compliance. "Bad actors are relentlessly targeting your identities, authentication processes, and IAM systems. Our platform correlates attacker enumerations and actions across IDP, cloud, SaaS, and databases to expose suspicious and malicious behavior, tackling the root causes of these exposures," said Venkat Raghavan, founder and CEO of Stack Identity. "The rise of the AI era has led to unprecedented data sharing through service principals, tokens, secrets and API keys creating significant challenges in governing non-human identities. The Stack Identity platform excels in seamlessly integrating human and non-human identities, recognizing that behind every non-human identity is a human who bears ultimate responsibility and accountability," said Al Ghous, CISO and Advisor. Key Features and Benefits Comprehensive Identity Governance: Stack Identity's platform offers the industry's first converged solution for identity security governance, integrating governance controls, workflows, access reviews, and certifications. This comprehensive approach reduces identity and entitlement sprawl, strengthens overall identity posture, and minimizes identity-related threats. Enhanced Functionality: Continuous Access Reviews and Certifications: Includes reviews for identity posture, IDP access, cloud, and SaaS admin access. Governance Controls: Introduces new controls to manage privileged accounts, reducing the risk of unauthorized access. Threat Detection and Access Graph: Features improved tools for monitoring SaaS entitlements, detecting identity threats, and visualizing access patterns. Dynamic Credential Management: Replaces static secrets with dynamic credentials to enhance security and reduce exposure risk. Lateral Movement Prevention: Implements controls to prevent unauthorized lateral movement within networks. Just-in-Time Access Controls: Converts static secrets and rarely used access to dynamic RBAC for improved security. Specialized Campaigns: Supports critical access scenarios like GitHub collaborator access, PCI DSS 4.0 compliance, and third-party data sharing. "With the surge in unprecedented data sharing, enterprises now face the challenge of managing massive entitlement sprawl as SaaS applications and customer data proliferate. Effective lifecycle management for non-human identities across cloud accounts has become essential. It’s impressive to see that Stack Identity’s platform now enables consistent management of both human and non-human identities," said Steve De Jong, Distinguished Engineer at Vercara. Company Growth and Deployment Success Remarkable Customer Growth: Stack Identity has achieved a 500% increase in its customer base, reflecting strong market demand for its solutions. Wide Deployment: The platform is now deployed across major enterprises in sectors including financial services, FinTech, cloud technology, and insurance technology. About Stack Identity Stack Identity is a pioneer in identity governance, offering innovative solutions to secure and manage digital identities across cloud and on-premises environments. The company's Identity-First Governance platform helps organizations reduce risk, ensure compliance, and strengthen their security posture. Contact Details Stack Identity Twinkle Khanna +1 832-878-6915 twinkle.khanna@stackidentity.com Company Website https://stackidentity.com/
July 01, 2024 10:00 AM Eastern Daylight Time
News ReleaseNovidea Acquires Automated Document Generation Leader Docomotion
Novidea
Novidea, creator of the cloud-based, data-driven enterprise insurance management platform for brokers, agents, MGAs/MGUs, carriers, and wholesalers, today announced the strategic acquisition of Docomotion, an automated document generation technology provider. The acquisition of Docomotion is the latest in a series of strategic moves by Novidea in its journey to become an insurtech industry leader. The transaction is set to close within the week. The acquisition will accelerate product innovation and create unparalleled value to customers, adding new capabilities to Novidea’s award-winning insurance management platform, including automated forms processing, design, management, and e-signatures. Docomotion’s customers will benefit from a broader product suite, increased focus on product development, enhanced customer experience, and global access to professional expertise. “Docomotion is a leading innovator in automated document management, an essential technology for document-heavy industries. Its unique, cloud-based document generation technology presents major technological synergies between our two companies,” said Roi Agababa, CEO of Novidea. “We are proud to welcome Docomotion’s talented team to the Novidea family and look forward to working together, leading successful digital transformation initiatives for our customers.” Digital transformation remains a significant challenge in the insurance space. Novidea’s platform enables customers to improve operational efficiencies, increase business resilience, stay competitive, and provide a better customer experience. Docomotion’s automated document management solution removes the administrative and manual burden of processing complex forms and documents. “Novidea has experienced unprecedented growth over the last few years, driven by the global trend to modernize customer experience in insurance. We share a similar vision for the evolution of the document generation industry,” said Oren Leshem, CEO and Founder of Docomotion. “By combining our powers, Docomotion and Novidea can further expand our capabilities and drive even greater value for our customers. Docomotion will continue to serve all its customers in the various verticals. Customers will benefit from access to broader resources and availability of assets as we join forces with Novidea.” Novidea was represented by Yael Shimon-Many, partner at Pearl Cohen law firm. Docomotion was represented by Oded Levy, partner at Arnon, Tadmor- Levy. The terms of the deal were not disclosed. About Novidea Novidea is the leading Insurtech provider of a cloud-native, data-driven insurance management system. With its open API architecture, Novidea enables brokers, agents, MGAs, and carriers to modernize and manage the customer journey end-to-end and drive growth across the entire insurance distribution lifecycle. Novidea's streamlined and automated platform fully integrates front, middle, and back offices. The Novidea platform boosts operational efficiency while providing a seamless digital experience for team members and customers alike. Insurance businesses benefit from a 360-degree view of customers and policies and can access data and actionable insights anytime, anywhere, and on any device. Novidea supports more than 100 customers across 22 countries. For more information, please go to: www.novidea.com About Docomotion Docomotion is an advanced document generation application on Salesforce, offering intuitive and easy-to-use tools for designing and generating complex documents tailored to meet the needs of businesses operating in a document-intensive environment. Contact Details Michelle Barry +1 603-809-2748 Michelle.barry@chameleon.co Company Website https://novidea.com/
July 01, 2024 09:15 AM Eastern Daylight Time
