DeFi Technologies Signs Binding LOI with CoreFi Strategy and Orinswift Ventures, Secures US$20M CORE Token Commitment from the Core Foundation to Drive Bitcoin Finance
DeFi Technologies has entered a binding letter agreement with CoreFi Strategy and Orinswift Ventures for a strategic reverse takeover, aiming to list on the Cboe Canada Stock Exchange. The Core Foundation has committed US$20 million in CORE Tokens to CoreFi's treasury, while CoreFi plans to raise an additional US$20 million through concurrent financing.
CoreFi Strategy, inspired by MicroStrategy's model, offers a regulated, leveraged approach to Bitcoin yield and CORE. The Core blockchain, which supports Bitcoin staking and EVM compatibility, has achieved significant milestones including: over 5,700 Bitcoin staked, $850M+ total value locked, 1 million+ active weekly wallets, and 310+ million total transactions. The platform hosts 150+ decentralized applications and is supported by approximately 75% of Bitcoin mining hash power.
DeFi Technologies ha stipulato un accordo vincolante con CoreFi Strategy e Orinswift Ventures per una quotazione strategica tramite un'operazione di reverse takeover, con l'obiettivo di essere quotati nella Borsa canadese di Cboe. La Core Foundation ha impegnato 20 milioni di dollari in CORE Tokens per il tesoro di CoreFi, mentre CoreFi prevede di raccogliere ulteriori 20 milioni di dollari attraverso finanziamenti concomitanti.
CoreFi Strategy, ispirata al modello di MicroStrategy, offre un approccio regolamentato e con leva al rendimento di Bitcoin e CORE. La blockchain Core, che supporta lo staking di Bitcoin e la compatibilità con EVM, ha raggiunto traguardi significativi, tra cui: oltre 5.700 Bitcoin staked, oltre 850 milioni di dollari di valore totale bloccato, più di 1 milione di portafogli attivi settimanali e oltre 310 milioni di transazioni totali. La piattaforma ospita oltre 150 applicazioni decentralizzate ed è supportata da circa il 75% della potenza di hashing del mining di Bitcoin.
DeFi Technologies ha entrado en un acuerdo vinculante con CoreFi Strategy y Orinswift Ventures para una toma de control inversa estratégica, con el objetivo de cotizar en la Bolsa de Valores de Cboe Canadá. La Core Foundation se ha comprometido con 20 millones de dólares en CORE Tokens para el tesoro de CoreFi, mientras que CoreFi planea recaudar otros 20 millones de dólares a través de financiamiento concurrente.
CoreFi Strategy, inspirada en el modelo de MicroStrategy, ofrece un enfoque regulado y apalancado al rendimiento de Bitcoin y CORE. La blockchain de Core, que soporta el staking de Bitcoin y es compatible con EVM, ha alcanzado hitos significativos, incluyendo: más de 5,700 Bitcoin apostados, más de 850 millones de dólares en valor total bloqueado, más de 1 millón de billeteras activas semanales y más de 310 millones de transacciones totales. La plataforma alberga más de 150 aplicaciones descentralizadas y es respaldada por aproximadamente el 75% de la potencia de hash del minado de Bitcoin.
DeFi Technologies는 CoreFi Strategy 및 Orinswift Ventures와 전략적인 역 인수 합병을 위한 구속력 있는 협정에 들어갔으며, Cboe 캐나다 증권 거래소에 상장하는 것을 목표로 하고 있습니다. Core Foundation은 CoreFi의 금고에 2천만 달러를 CORE 토큰으로 투자했으며, CoreFi는 추가로 2천만 달러를 동시 자금 조달을 통해 모금할 계획입니다.
MicroStrategy의 모델에서 영감을 받은 CoreFi Strategy는 비트코인 수익 및 CORE에 대한 규제된 레버리지 접근 방식을 제공합니다. 비트코인 스테이킹 및 EVM 호환성을 지원하는 Core 블록체인은 다음과 같은 중요한 이정표를 달성했습니다: 5,700개 이상의 비트코인 스테이킹, 8억 5천만 달러 이상의 총 잠금 가치, 100만 개 이상의 활성 주간 지갑, 3억 1천만 건 이상의 총 거래. 이 플랫폼은 150개 이상의 분산형 애플리케이션을 호스팅하며 비트코인 채굴 해시 파워의 약 75%에 의해 지원됩니다.
DeFi Technologies a signé un accord contraignant avec CoreFi Strategy et Orinswift Ventures pour une prise de contrôle inversée stratégique, visant à être cotée à la Bourse de Cboe Canada. La Core Foundation s'est engagée à investir 20 millions de dollars en CORE Tokens dans la trésorerie de CoreFi, tandis que CoreFi prévoit de lever 20 millions de dollars supplémentaires grâce à un financement simultané.
CoreFi Strategy, inspirée par le modèle de MicroStrategy, propose une approche réglementée et à effet de levier pour le rendement de Bitcoin et CORE. La blockchain Core, qui prend en charge le staking de Bitcoin et la compatibilité EVM, a atteint des jalons significatifs, y compris : plus de 5 700 Bitcoin stakés, plus de 850 millions de dollars de valeur totale verrouillée, plus d'un million de portefeuilles actifs hebdomadaires et plus de 310 millions de transactions totales. La plateforme accueille plus de 150 applications décentralisées et est soutenue par environ 75 % de la puissance de hachage du minage de Bitcoin.
DeFi Technologies hat eine verbindliche Vereinbarung mit CoreFi Strategy und Orinswift Ventures für einen strategischen Reverse-Takeover getroffen, mit dem Ziel, an der Cboe Canada Stock Exchange gelistet zu werden. Die Core Foundation hat sich mit 20 Millionen US-Dollar in CORE-Token für CoreFis Schatzkammer verpflichtet, während CoreFi plant, zusätzlich 20 Millionen US-Dollar durch gleichzeitige Finanzierungen zu beschaffen.
CoreFi Strategy, inspiriert vom Modell von MicroStrategy, bietet einen regulierten, Hebelansatz für Renditen aus Bitcoin und CORE. Die Core-Blockchain, die Bitcoin-Staking unterstützt und mit EVM kompatibel ist, hat bedeutende Meilensteine erreicht, darunter: über 5.700 Bitcoin gestaked, über 850 Millionen US-Dollar an insgesamt gesperrtem Wert, über 1 Million aktive wöchentliche Wallets und mehr als 310 Millionen Gesamtransaktionen. Die Plattform beherbergt über 150 dezentrale Anwendungen und wird von etwa 75 % der Hash-Power des Bitcoin-Minings unterstützt.
- Secured US$20M commitment in CORE Tokens from Core Foundation
- Planned US$20M concurrent financing to accelerate growth
- Strong ecosystem metrics: $850M+ TVL, 5,700+ Bitcoin staked
- Large user base with 1M+ active weekly wallets
- Network supported by 75% of Bitcoin mining hash power
- None.
- Strategic Collaboration and Reverse Takeover: DeFi Technologies has entered a binding letter agreement with CoreFi Strategy and Orinswift Ventures to facilitate a reverse takeover, enabling the listing of the resulting issuer's common shares on the Cboe Canada Stock Exchange (Cboe).
- Core Foundation Contribution and Financing Initiative: The Core Foundation will contribute
US in CORE Tokens to strengthen CoreFi's treasury. Additionally, CoreFi plans to raise$20 million US in concurrent financing to accelerate its growth in Bitcoin Finance (BTCfi) technologies.$20 million - CoreFi and CORE Blockchain Innovation: CoreFi Strategy, inspired by models like MicroStrategy, offers a regulated, leveraged approach to Bitcoin yield and CORE. The Core blockchain supports Bitcoin staking and a vibrant EVM-compatible ecosystem, securing over 5,700 Bitcoin staked,
$850M + total value locked, and a rapidly growing user base.
This announcement builds on the Company's November 14, 2024, news release, marking a significant milestone in the launch of its CoreFi Strategy. Inspired by the successful models of MicroStrategy and MetaPlanet, CoreFi Strategy provides a regulated, leveraged approach to generating Bitcoin yield and utilizing Core, unlocking new opportunities in Bitcoin Finance ("BTCfi"). As part of this initiative, the Core Foundation has committed US
CoreFi is a private company incorporated pursuant to the Canada Business Corporations Act. Recently launched in partnership with DeFi Technologies, CoreFi will offer a regulated, leveraged investment strategy centered on Bitcoin yield and CORE, the native asset of the Core blockchain. This strategy enables investors to pursue higher-risk, higher-reward opportunities within the rapidly growing BTCfi ecosystem.
"CoreFi Strategy is elevating the MicroStrategy playbook," said Rich Rines, contributor to Core. "MicroStrategy pioneered the hold-borrow-hold approach. CoreFi Strategy takes it a step further by adding staking into the mix. Their hold-stake-borrow-hold strategy applied to Bitcoin and CORE unlocks attractive Bitcoin yields while also building upside exposure to the rapidly emerging BTCfi landscape."
What is BTCfi & Core?
BTCfi, short for Bitcoin Finance, refers to decentralized financial applications and services built around Bitcoin. It brings some of the most popular features of decentralized finance (DeFi)—like lending, borrowing, staking, and yield generation—to the Bitcoin ecosystem. In essence, BTCfi expands Bitcoin's use case beyond being a "store of value" by enabling more interactive and utility-driven financial applications. With BTCfi, users can do more with their Bitcoin, such as earning rewards or participating in decentralized applications, without giving up custody of their assets.
The Core blockchain is the Proof of Stake Layer for Bitcoin, enhancing Bitcoin by introducing self-custodial Bitcoin staking. It also supports an ecosystem compatible with the Ethereum Virtual Machine (EVM), opening the door for various BTCfi applications. Since April 2024, more than 5,700 Bitcoin (BTC) have been staked using CORE, boosting Bitcoin's overall utility and network security.
CORE stands out as one of the most Bitcoin-aligned blockchains by integrating Bitcoin's security and economic incentives directly into its consensus mechanism.
- Over 5,700 Bitcoin staked to strengthen its network.
- ~
75% of Bitcoin mining hash power contributing to its security. - An ecosystem valued at over
$850 million - More than 1 million active wallets each week.
- 310+ million total transactions processed.
- A growing network of 150+ decentralised applications leveraging the platform.
With these milestones, Core is enhancing Bitcoin's utility and scalability, while driving innovation in BTCfi.
Olivier Roussy Newton, CEO of DeFi Technologies commented, "This partnership is a pivotal moment for DeFi Technologies as we bring innovative Bitcoin Finance (BTCfi) solutions to traditional investors. BTCFi unlocks Bitcoin's usability and scalability by offering yield, lending, and new financial tools - all of which are key drivers to future growth. By leveraging CoreFi's regulated and scalable approach, we are making it easier for institutional and retail participants to access Bitcoin yield opportunities. The US
Transaction Overview
The Transaction will be completed through a definitive agreement (the "Definitive Agreement") that is to be negotiated by the parties, which will contain customary representations and warranties for similar transactions, and is expected to be structured as a three-corned amalgamation whereby a newly incorporated subsidiary of Orinswift will amalgamate with CoreFi, resulting in Orinswift acquiring all securities of CoreFi, and CoreFi securityholders becoming securityholders of Orinswift, as the resulting issuer following closing of the Transaction (the "Resulting Issuer"). The final structure for the Transaction is subject to satisfactory tax, corporate and securities law advice for each of Orinswift, CoreFi, and DeFi.
As part of the RTO, CoreFi is set to complete a concurrent financing initiative, aiming to raise
Strategic and Financial Benefits
The collaboration between CoreFi, Orinswift, and DeFi Technologies brings together complementary technologies and expertise to strengthen CoreFi's ability to scale and validate digital assets. This partnership is designed to meet the increasing demand for secure and reliable digital asset solutions, particularly in the growing Bitcoin Finance (BTCfi) sector.
By combining their strengths, the parties aim to position the resulting entity as a leader in BTCfi, capturing significant opportunities in this rapidly expanding market.
About CoreFi Strategy Corp.
CoreFi Strategy Corp. specializes in the development of innovative BTCfi technologies that enhance the scalability and functionality of digital assets within the financial sector. CoreFi holds and dual stakes Bitcoin and CORE tokens as part of its treasury strategy.
About Orinswift Ventures Ltd.
Orinswift Ventures Ltd. focuses on exploring and advancing business opportunities that align with dynamic market trends, particularly in the technology sector.
About Core
Core is the Proof of Stake (PoS) layer for Bitcoin, enabling Self-Custodial Bitcoin Staking and supporting an EVM-compatible BTCfi ecosystem. Since April 2024, over 5,700 BTC have been staked with Core, enhancing Bitcoin's utility and security. Core is the most Bitcoin-aligned EVM blockchain, with ~
About DeFi Technologies
DeFi Technologies Inc. (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF) is a financial technology company that pioneers the convergence of traditional capital markets with the world of decentralized finance (DeFi). With a dedicated focus on industry-leading Web3 technologies, DeFi Technologies aims to provide widespread investor access to the future of finance. Backed by an esteemed team of experts with extensive experience in financial markets and digital assets, we are committed to revolutionising the way individuals and institutions interact with the evolving financial ecosystem. Follow DeFi Technologies on Linkedin and Twitter, and for more details, visit https://defi.tech/
Cautionary note regarding forward-looking information:
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the timing and completion of the Transaction; listing of the Resulting Issuer on Cboe Canada Exchange; the Financing; the business strategy and plan of the Resulting Issuer; investor interest and confidence in digital assets, in particular in Bitcoin and Core; the regulatory environment with respect to the growth and adoption of decentralized finance; the pursuit by the Company and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but is not limited the ability of the Resulting Issuer to execute on its business plan; the growth of the Bitcoin ecosystem; growth and development of decentralised finance and digital asset sector; rules and regulations with respect to decentralised finance and digital assets; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
THE CBOE
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SOURCE DeFi Technologies Inc.
FAQ
What is the value of Core Foundation's token commitment to DeFi Technologies (DEFTF)?
How many Bitcoin are currently staked on the Core blockchain platform?
What is the total value locked (TVL) in the Core blockchain ecosystem?
How much additional financing is CoreFi planning to raise through the concurrent financing?
What percentage of Bitcoin mining hash power supports the Core network?
How many active wallets does the Core blockchain have weekly?
