Defi Technologies - DEFTF STOCK NEWS

On June 6, 2024, DeFi Technologies announced its intention to commence a Normal Course Issuer Bid (NCIB) starting from June 10, 2024, until June 9, 2025. Under the NCIB, DeFi Technologies plans to buy back up to 10% of its public float, equating to 26,996,392 common shares, through CBOE Canada Inc. and other Canadian trading platforms. The company believes its current market price doesn't reflect its true value and considers the buyback a good use of its C$69.9 million cash balance. All purchased shares will be cancelled, and daily purchases won't exceed 25% of the average daily trading volume from December 2023 to May 2024. Ventum Financial Corp. will manage the NCIB.

DeFi Technologies' subsidiary, Valour Inc., has expanded its partnership with justTRADE, a German online brokerage platform, to offer the 1Valour STOXX Bitcoin Suisse Digital Asset Blue Chip ETP for German savings plans. This collaboration, initiated in August 2022, positions Valour as a leading provider of cryptocurrency products and ETPs for justTRADE's clients. The ETP follows a rule-based passive index methodology and uses Bitcoin Suisse's Global Crypto Taxonomy. It signifies a major milestone for STOXX, expanding cryptocurrency investment accessibility within mainstream portfolios. Valour aims to provide simple and secure digital asset investments, enhancing their role in the digital asset sector.

DeFi Technologies has announced the launch of its new business line, DeFi Alpha, which is a specialized arbitrage trading desk. This new desk has generated an additional C$59.2 million (US$43.4 million) in Q2 2024 from low-risk arbitrage trades, bringing the total to C$113.8 million (US$83.4 million). This significant contribution underscores the effectiveness of DeFi Alpha in identifying and capitalizing on arbitrage opportunities in the crypto market.

Additionally, DeFi Technologies has engaged Gold Standard Media for marketing services. This agreement, effective from May 13, 2024, is valued at US$500,000 and includes a grant of 1.5 million deferred share units. The new trading desk is aligned with DeFi Technologies' mission and complements its existing business lines, including asset management, venture investments, and infrastructure support for DeFi.

DeFi Technologies has engaged Liquid Advisors to aid in the cross-listing of its common shares on a US securities exchange. This strategic move aims to boost growth and broaden its market presence. Annemarie Tierney, founder of Liquid Advisors, brings substantial expertise in US securities laws and cross-border listings, having held positions at the SEC, NYSE, Nasdaq, and Skadden Arps. DeFi Technologies' CEO, Olivier Roussy Newton, highlighted the significance of this partnership for enhancing investor visibility and market liquidity.

DeFi Technologies (CBOE CA: DEFI, GR: R9B, OTC: DEFTF) will host a shareholder call on May 21, 2024, at 12:00 p.m. EDT to discuss its Q1 2024 financial results. The call will cover the company's performance for the quarter ending March 31, 2024. Interested parties must register for the webcast in advance. The company bridges the gap between traditional capital markets, Web3, and decentralized finance. Further details and registration are available via a provided link.

DeFi Technologies announced its Q1 2024 financial results, reporting record Operating Revenues of C$13.4 million and an Operating Net Income of C$5.3 million. The company's Assets Under Management (AUM) grew by 78.7%, reaching approximately C$908 million. The quarter saw strategic advancements, including the launch of multiple Exchange Traded Products (ETPs) by its subsidiary Valour Inc., and notable acquisitions such as Reflexivity Research The company forecasts annualized Operating Revenues of C$119 million for 2024, driven by ongoing AUM growth, new product launches, and integration of new acquisitions.

DeFi Technologies subsidiary, Valour Inc., has launched the world's first yield-bearing Bitcoin (BTC) ETP in collaboration with Core Foundation. This innovative product, trading under ISIN CH1213604536 on the Nordic Growth Market (NGM), offers investors a 5.65% yield with a 1.9% management fee.

The ETP leverages the Core blockchain's Satoshi Plus consensus mechanism, ensuring security and scalability. Investors can earn yield by delegating their Bitcoins to Core validators without the need to sell or trade their holdings. Yield is attributed to the Net Asset Value (NAV) daily.

Valour Bitcoin Staking (BTC) SEK ETP simplifies Bitcoin investment and maintains custodial control and security. This marks a significant milestone in digital asset investment, offering a novel way to earn returns on Bitcoin holdings.

DeFi Technologies Inc., a crypto technology company, featured in a syndicated broadcast covering its subsidiary Valour's AUM of C$748M, a 47.2% year-on-year increase. The broadcast highlights Valour's success in ETPs, with CEO Olivier Roussy Newton expressing optimism for future growth.

DeFi Technologies' subsidiary Valour Inc. launches groundbreaking ETPs for Internet Computer (ICP), Toncoin (TON), and Chainlink (LINK) in the Nordics. These ETPs provide unprecedented access to innovative ecosystems, with trading starting on May 10, 2024. The Valour ICP ETP tracks the ICP token, Valour TON ETP provides access to Toncoin, and Valour LINK ETP allows exposure to Chainlink. Reflexivity Research initiates coverage on TON, offering valuable insights for investors.