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DeFi Technologies Inc. (DEFTF) is a financial technology company at the forefront of merging traditional capital markets with decentralized finance (DeFi). The company recently engaged Liquid Advisors, Inc. to facilitate its cross-listing on a US securities exchange, demonstrating its commitment to growth and investor access. DeFi Technologies also launched DeFi Alpha, a specialized arbitrage trading desk that has already generated significant returns. The company further announced a Normal Course Issuer Bid to buy back common shares, signaling its confidence in its business value and prospects.
DeFi Technologies subsidiary Reflexivity Research announces its inaugural Crypto Investor Day, scheduled for October 25th, 2024, in New York City. The event is expected to attract up to 1,000 industry leaders from both crypto and traditional finance sectors. Notable speakers include executives from VanEck, Tether, Ripple Labs, and Fidelity Digital Assets. The event will be moderated by Anthony Pompliano, Co-Founder of Reflexivity Research.
The Crypto Investor Day is supported by prominent sponsors such as Coinbase, Ledger, Grayscale, and Near. It aims to bridge the knowledge gap between traditional finance and the digital asset space, featuring fireside chats with industry leaders. This event builds on Reflexivity Research's successful Bitcoin Investor Day earlier in the year and complements the growth of its research business.
DeFi Technologies (CBOE CA: DEFI, OTC: DEFTF) reports strong performance for its subsidiary Valour Inc. As of August 31, 2024, Valour's assets under management (AUM) reached C$661 million (US$487 million), marking a 30% increase this fiscal year. Despite declining asset prices, August saw record monthly net inflows of C$14.1 million (US$10.4 million), the highest in 2024.
Key products driving inflows include Valour Solana SEK, Valour BTC Zero SEK, and Valour ETH Zero SEK. The company maintains a strong financial position with a cash balance of C$26.2 million and diversified cryptocurrency holdings totaling C$33.9 million. A recent strategic development includes an MOU with the Nairobi Securities Exchange and SovFi to launch Valour ETPs in Africa.
DeFi Technologies Inc. (CBOE CA: DEFI, OTC: DEFTF) has partnered with Professional Capital Management to enter the U.S. ETF market. This strategic alliance aims to capitalize on the rapidly expanding ETF space, which has surpassed $7.5 trillion in AUM and is growing at a 15% CAGR since 2010. The partnership combines DeFi Technologies' expertise in digital asset ETPs through its subsidiary Valour Inc. with Professional Capital Management's success in building profitable companies and media reach.
Led by Anthony Pompliano, Professional Capital Management brings experience in solving real-world problems and achieving capital growth. DeFi Technologies contributes its experience in creating innovative ETPs, including fee-free and yield-generating products. The joint venture aims to introduce innovative ETF products catering to the growing demand for active and alternative investment strategies in the U.S. market.
DeFi Technologies Inc. (DEFTF) reported record-breaking Q2 2024 financial results:
- Total Revenue: C$133.2M (US$98.0M) for Q2, C$128.2M (US$94.4M) for H1
- Net Income: C$90.4M (US$66.5M) for Q2, C$72.3M (US$53.2M) for H1
- Assets Under Management (AUM): C$730.1M (US$533.4M) as of June 30, 2024, up 43.7% since Dec 31, 2023
- Cash balance: C$19.5M (US$14.2M) as of June 30, 2024
Key developments include multiple ETP launches by Valour, DeFi Alpha trading desk generating over C$111.5M in Q2, and strategic loan repayments. The company projects annualized revenues of approximately C$179M (US$131M) for fiscal 2024, supported by AUM growth and new acquisitions.
DeFi Technologies Inc. (CBOE CA: DEFI, GR: R9B, OTC: DEFTF), a financial technology company bridging traditional capital markets with Web3 and decentralized finance, has announced a shareholder call scheduled for August 15, 2024, at 12:00 p.m. EST. The call will discuss the company's financial performance for Q2 2024, covering the three-month and six-month periods ending June 30, 2024. Shareholders are required to register in advance for the webinar through the provided Zoom link. This announcement highlights DeFi Technologies' commitment to transparency and investor communication, as it prepares to share insights into its financial results for the latest quarter.
DeFi Technologies' subsidiary Valour Inc. has rebalanced its Valour Digital Asset Basket 10 (VDAB10) and the STOXX Bitcoin Suisse Index, effective August 1, 2024. The VDAB10 rebalancing saw Solana (SOL) increase from 9.85% to 12.13%. The top constituents remain Bitcoin (30%) and Ethereum (30%), followed by Binance Coin (12.30%) and Solana (12.13%).
In July, the VDAB10 SEK rose by 6.77% and the VDAB10 EUR by 4.53%. The STOXX Bitcoin Suisse Index rebalancing, effective June 21, 2024, now includes Solana with an 18.43% allocation. The index showed a 7.76% performance increase in July. These updates reflect Valour's commitment to offering transparent, rule-based ETPs that track the evolving digital asset market.
DeFi Technologies' subsidiary, Valour, reported a 64% year-to-date increase in Assets Under Management (AUM), reaching C$837M (US$609M) as of July 31, 2024. This growth is driven by continuous monthly net inflows of C$9.3M (US$6.75M). The company maintains a strong financial position with a cash and USDT balance of approximately C$56.2M (US$40.9M) and loans payable of C$17.9M (US$13M), alongside significant cryptocurrency holdings including 204.34 BTC, 12,775 SOL tokens, and 1,484,148 CORE tokens totaling C$20.7M (US$15.1M).
Key developments include the appointment of Andrew Forson to the board, a strategic partnership with Zero Computing, and the launch of the world's first NEAR Protocol ETP. Furthermore, DeFi Technologies signed a letter of intent to acquire Stillman Digital to enhance trading capabilities and diversify revenue streams. Notably, DeFi Alpha, the arbitrage trading desk, generated an additional C$19.3M (US$14.1M) in Q3 2024.
DeFi Technologies' subsidiary, Valour Inc., has signed a Memorandum of Understanding (MOU) with the Nairobi Securities Exchange (NSE) and SovFi Inc. to develop and launch digital asset exchange-traded products (ETPs) in Africa. This collaboration aims to enhance market infrastructure, attract investors, and increase trading volumes on the NSE. Kenya, a technological innovation hub with 85% smartphone penetration, is the largest cryptocurrency market in East Africa and among the top five on the continent.
The partnership leverages Valour's expertise in digital assets and SovFi's financial solutions to expand ETP offerings and market reach in Africa. Initially, ETPs may include those related to Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Hedera (HBAR). This strategic move is expected to strengthen NSE's position as a leading African financial hub and contribute to Kenya's economic growth by providing innovative investment opportunities.
DeFi Technologies Inc. (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF) has appointed Andrew Forson to its board of directors. Forson, currently the Head of Ventures and Investments for the Hashgraph Group, brings extensive experience in financial engineering and digital assets. His expertise includes developing structured financial products and strategic investments in the digital asset sector.
CEO Olivier Roussy Newton expressed enthusiasm about Forson's appointment, highlighting his valuable experience and forward-thinking approach. Forson's MBA from Edinburgh Business School and his role at Hedera's commercialization arm align with DeFi Technologies' goal of strengthening its leadership team in the evolving digital finance industry.
DeFi Technologies (CBOE CA: DEFI, OTC: DEFTF) has announced a strategic partnership with Zero Computing to enhance its DeFi Alpha trading desk. The collaboration aims to improve arbitrage discovery and execution capabilities while advancing zero-knowledge enabled Maximal Extractable Value (MEV) strategies. Key aspects include:
1. Leveraging Zero Computing's advanced zero-knowledge proof capabilities to optimize algorithmic strategies, improve transaction privacy, and increase operational efficiency.
2. Expanding verifiable computation to the Solana blockchain, marking a significant milestone in zero-knowledge proofs across diverse blockchain ecosystems.
3. Developing innovative financial products, including zero-knowledge index Exchange Traded Products (ETPs).
4. Enhancing DeFi Alpha's trading infrastructure to capitalize on market inefficiencies more effectively.
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