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Diginex Becomes First Crypto Exchange Operator Listed on Nasdaq

Hong Kong-based Diginex has gained a historic listing on NASDAQ following a deal with a special purpose acqusition firm.

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In brief

  • Diginex operates the EQUOS cryptocurrency exchange.
  • It is now the first crypto exchange operator to be listed on the Nasdaq, following a merger.
  • Analysts say the listing bodes well for crypto among both retail and institutional investors.

Diginex will soon become the first listed company on the NASDAQ with a cryptocurrency exchange, following the completion of its merger with 8i Enterprises Acquisition Corp., a special purpose acquisition firm. 

Hong Kong-based Diginex Ltd. said it raised $50 million, including a private raise prior to the listing as well as cash remaining in the special purpose acquisition company. The firm will trade on the NASDAQ under the ticker symbol EQOS, while its warrants will trade under the ticker EQOSW. 

CEO Richard Byworth called the listing “a watershed moment for both Diginex and the cryptocurrency industry” with the historic deal to begin trading on the exchange, in the announcement. 

“We believe we are the first because of our commitment to providing innovative products in a trusting, fair and compliant environment,” a company spokesperson told Decrypt, in an emailed statement. “The Diginex ecosystem has been designed specifically to support the needs of professional investors from institutional to retail who are interested in raising their exposure to digital assets.”

The company said that it plans to continue building out its architecture and infrastructure, including rolling out a suite of derivative products for the EQUOS cryptocurrency exchange and expanding the reach of its Diginex Access multi-venue trading platform.

Asked about the current investment climate, officials told Decrypt that “current fiscal and monetary policies are making non inflationary and safe haven assets more attractive.”

“We see investors showing increased interest in Bitcoin in particular, and we expect this interest in digital assets to continue,” the company said. 

The Federal Reserve last month signaled plans to keep rates near zero for possibly another three years, as the COVID-19 impact has created a long horizon to regain full employment. 

At least one financial analyst sees the Nasdaq listing raising the profile of the firm to the next level and opens up brand new opportunities for investors.

“I think definitely the fact that its listing on Nasdaq adds real legitimacy to the deal for sure and also the fact that the company Diginex itself, is a full fledged exchange in and of itself,” Wally Okby, senior analyst at research and advisory firm Aite Group told Decrypt. “It basically allows investors, by going on the Nasdaq, the ability for retail investors to invest directly into the exchange, which is an opportunity most retail investors never get.”

He said the current economic environment has created an interest in diversifying into uncorrelated asset classes, but said there remain main other investors that are risk averse and sitting on piles of cash.

Shareholders of 8i Enterprises previously approved the merger at a Sept. 15th meeting. The Diginex ecosystem includes the EQUOS exchange, the Diginex Access digital asset trading technology platform, the Diginex Capital advisory firm, the Digivault custody provider and Bletchley Park Asset Management. 

Blockchain

iM Intelligent Mining Taps Roy Phillips as Advisor to Advance Green Mining Efficiency

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[PR – Las Vegas, Nevada, 27th July, 2021]

iM Intelligent Mining (iM), a provider of environmentally responsible energy solutions for powering cryptocurrency mining operations, is delighted to welcome energy veteran Roy Phillips to join its Board of Advisors.

Roy is the founder and CEO of REP Energy, a photovoltaic solar project developer that works with investors and private parties to maximize the opportunities available in the renewable energy business.

With over three decades of experience, Roy’s industry insights will be invaluable as iM continue to shape the landscape of large scale blockchain mining operations.

Roy’s experience has been focused on accelerating the clean energy transition. His previous roles include advising governments, utilities and others across North America in the areas of energy efficiency, renewable energy, and clean mobility.

With rising worries over huge electricity usage in blockchain, the mining sector has recently been facing increasing public scrutiny. iM has come up with a graceful solution that completely shifts the blockchain mining model by establishing autonomous, solar-powered rigs built in the desert and owned by a decentralized network of iM token holders.

iM Intelligent Mining solves the industry pain points around power consumption, environmental damage, centralized block-mining operations, blockchain network scaling, and high barriers to entry for individuals and developing countries.

Short term goals in iM’s roadmap are to establish the first mining farm and build a DApp. Ownership is represented by the iM token, whose holders retain fractional ownership of autonomous mining farms and take 60% of operations’ profit. The utility token also provides staking rewards to the holder over time and can be used to stake in exchanges and liquidity pools.

In addition to mining rewards distributed to the community members, 9% of iM’s profit goes towards community operations, 30% are reinvested, while 1% goes to the iM non-profit, dedicated to further developing hardware, software, and infrastructure efficiencies.

Comment – Roy Phillips

In addition to leading his firm, Roy Phillips contributes to public policy through his involvement on several volunteer boards and committees. He will leverage his energy technology expertise and industry knowledge to provide guidance and direction to iM’s executive team through its continued growth and development as a blockchain mining optimization leader.

iM’s sustainable decentralized solution, the IM Green Protocol, provides an investment structure that begins with solar energy production. It aims to power the blockchain future while protecting the environment and maintaining the economic viability of the industry.

iM’s adoption of green energy will eventually provide the blockchain activity with free electricity and allow all miners/investors to have a hand in energy production.

Crypto-mining activity takes up an enormous amount of energy as permissionless blockchains rely on proof of work to process transactions and ensure network security. Aside from its environmental impact, energy is the main operational cost for miners, and there is fierce competition to come across the cheapest sources of power.

iM’s highly efficient and streamlined operation is built at scale, making its low-cost renewable electricity solution a more attractive option than personalized rigs.

About iM Intelligent Mining

iM Intelligent Mining is a decentralized blockchain mining operation that employs the use of autonomous, solar-powered mining rigs to provide free electricity to the blockchain. iM token holders enjoy the benefits of owning both a solar panel farm and a mining rig without the complications of building it themselves. Advanced cooling technology, bulk purchase of equipment, and streamlined operations maximize profits and provide revenue for maintaining equipment and reinvesting in growth.

Contact/Socials

iM Intelligent Mining Website: https://im.farm/

iM Intelligent Mining on Twitter

iM Intelligent Mining on YouTube

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Source: https://cryptopotato.com/im-intelligent-mining-taps-roy-phillips-as-advisor-to-advance-green-mining-efficiency/

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Blockchain

Is a crypto task force in the books for this American state?

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As the legislative world starts to grapple with the functionality and potential of cryptocurrencies, several bodies have come out with research teams to improve their understanding of the emerging technology. The latest among them was Pennsylvania, where a bill to establish a crypto task force was introduced in the American state’s General Assembly.

The bill, titled “Establishing a task force on digital currency and the impact on widespread use of cryptocurrency and other forms of digital currencies in this Commonwealth,” was introduced by eight Democratic and two Republican members of the General Assembly. If passed, the bill would be known as the “Digital Currency Task Force Act.”

The force agenda of the proposed task force would be to examine the use of digital currency, cryptocurrency and blockchain industries in the state. The bill further stated that it shall do this by taking note of the number of currencies being traded and their market share, along with the number of crypto exchanges in the state and their average monthly trade volume.

The task force would also look at how digital currencies are being used in the state and their impact on the state and its tax returns. Additionally, it will examine the types of investment entities that have large amounts of capital staked in the space.

The bill further outlined one of the duties of the task force as evaluating the transparency and potential for manipulation and similar illicit activities in the crypto market space. It will also look at policy considerations for crypto mining along with the laws and regulations already in place in other states, countries, and political and economic unions.

All of these duties will be combined into providing recommendations to the state regarding crypto legislation and regulations. These would revolve around increasing transparency and security in the marketplace along with enhancing consumer protections.

According to the details of the bill, the task force would have 13 members that would not be financially compensated for this duty. Apart from holding public hearings regarding the matter, the team would be required to submit its findings to both the Governor of Pennsylvania and its General Assembly.

In late 2018, a bill to establish a crypto-related task force was passed by the U.S. House of Representatives, in order to combat the use of cryptocurrencies to fund terrorist activities in the country. A bill to mandate a similar task force was introduced earlier this year post the Capitol riots in January.

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Source: https://ambcrypto.com/is-a-crypto-task-force-in-the-books-for-this-american-state

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Orion Pool Users to Gain Access To Trading, Swapping, Staking, & Voting From A Single Dashboard

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Orion Protocol recently launched its AMM solution, Orion Pool, powering multiple crypto-related activities from a single user interface. The platform has integrated leading swap pools, DEXs, and CEXs, constructing the first decentralized gateway to the entire cryptocurrency market.

A New Age Of Decentralized Finance From One Interface

With Bitcoin and other cryptocurrencies on the rise, the blockchain ecosystem is flooded with centralized and decentralized exchanges. As a result, users find it increasingly difficult to manage multiple wallets, monitor price movements, and execute orders across exchanges.

While centralized exchanges (CEXs) are the most preferred solution for trading cryptocurrencies, governments and financial regulators worldwide are clamping down hard on CEXs, making it difficult for the platforms to operate in several jurisdictions. CEXs store data in centralized security processes, making them an easy target for cybercriminals.

Moreover, registering an account on a CEX is a clunky and frustrating process, with several complications of KYC, AML, and other regulatory verifications. DEXs, on the other hand, solve the problems of CEXs, offering users complete control over their funds. However, using DEXs requires a decent understanding of the DeFi ecosystem.

To address these problems and improve accessibility, Orion Protocol has launched its proprietary AMM solution, Orion Pool, establishing itself as the only platform that offers users decentralized access to swap pools, DEXs, and CEXs in one destination.

Following the launch of the Orion Pool, Orion Terminal now offers traders a single portal for trading, staking, swapping, and governance voting. This means users no longer have to create multiple accounts across exchanges or undergo several KYC and AML checks. The benefit is access to the best available pricing in the market at any time through Orion Pool.

A Gateway To The Entire Crypto Market

Constructed on top of Ethereum and Binance Smart Chain (BSC), Orion Protocol is currently integrating Avalanche, Cardano, Elrond, Fantom, HECO, PancakeSwap, Polkadot, SushiSwap, and Uniswap to its ecosystem to add more liquidity to the Orion Terminal. Orion Pool initially launched its multi-asset liquidity pool with ORN/ETH, ORN/BUSD, ORN/BNB, and ORN/USDT pairs.

A week later, the platform introduced its dollar-pegged stablecoin, USDo, to add more utility to the native ORN token. These stablecoins are minted by staking ORN and eventually used as the base token for all trading pairs within the Orion Terminal.

By partnering with verified brokers and exchanges, Orion Terminal allows everyone to trade through major exchanges, such as Binance and KuCoin, without the need for multiple wallets or KYC. This is made possible by Orion’s proprietary Delegated Proof of Broker governance mechanism.

Pre-verified brokers and exchanges execute trade orders on behalf of the users through the Orion Broker Software. The system auto-picks traders based on the ORN they have staked, following which smart contracts take care of the transactions. This ensures that exchanges don’t gain access to user’s accounts while granting users access to trade DEXs, CEXs, and swap pools without multiple accounts.

Although there are already several other liquidity aggregators, Orion Protocol has cemented itself as the first and only platform to provide global and decentralized access to the entire crypto market. As the platform forges ahead with plans to integrate more chains into its ecosystem, Orion Protocol intends to play a key role in shaping cryptocurrency adoption globally.

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Source: https://www.newsbtc.com/news/company/orion-pool-users-to-gain-access-to-trading-swapping-staking-voting-from-a-single-dashboard/

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