Crypto Crafters

[PRESS RELEASE – London, UK, November 4th, 2024]

WebZero has announced the full agenda for its conference sub0 reset, inviting developers, investors and innovators to join Polkadot founder Dr Gavin Wood, along with industry leaders from Parity and the Web3 Foundation, to work on building JAM, a new paradigm paving the way forward for writing and securing Web3 applications.

The three day event from 9-11 November in Bangkok is dedicated to the most exciting innovation of the Polkadot ecosystem: advancing Gavin Wood’s visionary JAM chain project into the implementation stage and showcasing the most innovative projects built on Substrate.

JAM takes Polkadot’s current architecture to a new level of flexibility, in which Polkadot’s cores can be used for any verification task, whether for smart contracts or sovereign blockchains, maximizing the potential of the cores. It seeks to offer a real solution to the scalability vs coherency dilemma in Web3.

sub0 reset kicks off with a dedicated education day. Attendees can learn from industry greats such as Polkadot founder Robert Habermeier and Avail’s Anurag Arjun, and join barcamp deep-dives focused on Substrate. Day two is Modularity Day, with discussions from leading innovators at Avail, R0gue, Midnight and Parity Technologies. Day three is JAM & Scalability day, building out Polkadot’s founder Gavin Wood’s vision to transform the ecosystem into the world’s first global computer. The venue’s 24/7 hackerspace will give new teams the chance to co-work and compete for 10k USD in prizes.

Fabian Gompf, CEO of the Web3 Foundation said: “sub0 reset is the best opportunity for global developer talent to come together and catch up on the cutting-edge innovation happening in the Substrate and Polkadot ecosystems. Ranging from network updates and milestones to parachains, solochains and a whole day covering Join Accumulate Machine, sub0 reset is an important step for driving forward progress on Polkadot.”

Agenda highlights

 Saturday 9th

• Interoperability deep-dive from Anurag Arjun 12:00pm, main stage
• Keynote from Robert Habermeier, 12:30pm, main stage

Sunday 10th

• Workshop: Building on Polkadot – Shawn Tabrizi, Parity 14:00-15:00
• Building bespoke Web3 gaming experiences, John Linden, Mythical Games 16:30-17:10

 JAM Day – Monday 11th

• Demystifying Jam – Kian Paimani, Parity 11:00am
• Keynote speech on JAM from Dr. Gavin Wood – 17:00-18:00pm
• JAM Toaster: developers can test and optimise JAM implementations on a full-scale simulation of the network with 1,023 nodes at full capacity and 16,384 AMD CPUs. – All day

The Venue

• Spectacular five-floor industrial venue
• 24/7 hackerspace with bounties and $10k prize
• Rooftop oasis
• Free catering and drinks from a private chef

Practical details:

Sub0 reset is taking place at 127 Na Ranong Rd, Khlong Toei, Bangkok from 9-11 November, 2024.

A limited supply of free tickets for sub0 reset are available here.

The event runs from 10 AM until late each day. Make sure to subscribe to the WebZero Luma for full scheduling opportunities. The hackerspace runs 24 hours a day, ensuring developers can build at all hours of the night with food and beverages provided free of charge. Media lounge and recording rooms are provided.

The event will be streamed on the Polkadot Youtube channel.

For any further media enquiries, please contact [email protected]

About WEBZERO

WebZero is a developer experience builder that is establishing a hybrid between event production and developer relations, based on its own unique vision and methodology.

About Polkadot

Polkadot is the powerful, secure core of Web3, providing a shared foundation that unites some of the world’s most transformative apps and blockchains. Polkadot offers advanced modular architecture that allows devs to easily design and build their own specialized blockchain projects, pooled security that ensures the same high standard for secure block production across all connected chains and apps connected to it, and robust governance that ensures a transparent system where everyone has say in shaping the blockchain ecosystem for growth and sustainability. With Polkadot, users are not just participants, they’re co-creators with the power to shape its future.

The excitement surrounding a potential Republican victory spurred $2.2 billion in weekly inflows, pushing year-to-date inflows to a whopping $29.2 billion. This increase, along with rising prices, propelled assets under management past $100 billion. Interestingly, this level was last seen in early June 2024, when AuM hit $102 billion.

As a result, the trading volume surged 67% over the week, totaling $19.2 billion and comprising 35% of all bitcoin trading on reliable exchanges.

Republican Win Anticipation Propel Massive Inflows

According to the latest edition of Digital Asset Fund Flows Weekly Report, nearly all of last week’s inflows went to Bitcoin, which attracted $2.2 billion. Meanwhile, price increases sparked $8.9 million into short-bitcoin investments.

Ethereum received a modest $9.5 million, which lags behind the stronger enthusiasm for Bitcoin and Solana, the latter seeing $5.7 million in new funds. Among other altcoins, Polkadot and Arbitrum recorded inflows of $0.67 million and $0.2 million, respectively.

On the other hand, multi-asset products faced a setback, with $3.1 million in outflows after recovering the previous week. Following suit, Litecoin and XRP also faced outflows of $0.8 million and $0.1 million, respectively, over the past week.

Bitcoin’s Sensitivity to US Election Outcome

Bitcoin has reacted positively as optimism builds around the possibility of Donald Trump, a self-proclaimed pro-crypto candidate, securing a second term. CryptoPotato also recently reported that traders are placing significant bets on Trump’s chances of victory. Large crypto investors, in particular, are backing their beliefs with investments tied to the upcoming election.

Coinshares report also validated this sentiment as it revealed weekly inflows reaching $2.2 billion in the US, driven by early-week enthusiasm over Republican election prospects. However, as polls shifted later in the week, slight outflows on Friday underscored Bitcoin’s sensitivity to US election outcomes.

On a more global scale, Germany also recorded a smaller inflow of $5.1 million. Australia and Hong Kong settled with $2.1 million and $0.7 million inflows over the past week. Canada and Sweden recorded the largest outflows with $24.4 million and $20.3 million respectively, followed by Switzerland with $13.8 million. Brazil also saw a minor outflow of $0.5 million.

Robinhood has reported a 112% year-over-year increase in cryptocurrency trading volume, reaching $14.4 billion in the third quarter of 2024.

However, this surge comes amid a decline in trading activity compared to earlier in the year, with volumes peaking at $36 billion in the first quarter and dropping to $21.5 billion in the second quarter.

Results Fall Short of Analyst Expectations

Despite this slowdown in momentum in 2024, the trading platform experienced growth in its transaction-based revenue. The report indicates that income increased by 72% compared to the previous year, reaching $319 million. Of this, cryptocurrency trading accounted for $61 million, representing a 165% increase compared to last year. However, this figure was down from the $81 million generated in the previous quarter.

Overall, the company reported a net income of $150 million and total revenue of $637 million for the third quarter. However, these results fell short of analysts’ expectations.

The reported earnings per share (EPS) of $0.17 fell short of the Zacks Consensus Estimate of $0.18, while total revenue was 3.6% below the anticipated $661.2 million.

Other parts of Robinhood’s business also showed strong performance. Options trading revenues surged to $202 million, up 63% from the same period last year, and equities trading brought in $37 million, reflecting a 37% increase.

The company also revealed a rise in its Assets Under Custody (AUC). The metric grew by 76% year-over-year to $152.2 billion, fueled by net deposits from users and increased valuations of stocks and cryptocurrencies.

Robinhood Executives Comment on Q3 Results

Vlad Tenev, CEO and co-founder of Robinhood expressed his pride in the results, stating that they were a testament to how well the company’s “product engine is humming.”

Further, he highlighted recent initiatives such as the launch of Robinhood Legend, a new desktop platform, and the upcoming introduction of index options, futures, and a realized profit and loss tool.

Chief Financial Officer Jason Warnick noted the quarter’s overall strength, pointing to 36% year-over-year revenue growth that largely contributed to the bottom line.

Since launching its cryptocurrency unit in February 2018, Robinhood has expanded its offerings through various partnerships and initiatives.

Initially starting with Bitcoin and Ethereum trading, the stock brokerage firm has since broadened its offerings to include Litecoin, Uniswap, Avalanche, Chainlink, and various other tokens.

The US presidential elections are just around the corner, with the world’s largest economic force anticipated to choose between continuing with a similar path as the past four years or changing its course completely if they go with Republican candidate Donald Trump.

While the economic consequences will impact millions and millions of people, the crypto community is anticipating how it will affect bitcoin and altcoins.

Never Below $70K Again?

The popular crypto trader EllioTrades showcased a compelling chart earlier today. It indicates that the election week on all three previous occasions in the US during BTC’s existence actually marked a low for the asset that was never repeated again. Meaning, that its valuation has never gone below that level since the last week before the 2012, 2016, and 2020 elections.

Every US election week in Bitcoin’s history has been the lowest price it will ever be again

4 days left

Tick Tock

h/t @KrownCryptoCave pic.twitter.com/JNXSRqvMJ5

— EllioTrades (@elliotrades) November 2, 2024

The chart shows that bitcoin traded at around $12 in 2012, $720 in 2016, and $14,900 in 2020. The first two price tags seem unthinkable at the moment, but BTC actually went close to the last one during the 2022 bear market. Nevertheless, it bounced off at over $16,000 and has never looked back.

As such, if history is to repeat itself, the primary cryptocurrency might never go below $70,000 again. Recall that it jumped to $73,600 earlier this week, which was 0.1% away from a new all-time high, but failed there and has lost roughly four grand to its current price tag of $69,500.

Who Is Better for BTC?

There’s no obvious answer to this question, even though Donald Trump might have the lead. After all, his current stance is quite bullish as he uses BTC to pay for burgers, promised to let mining thrive in the States, vowed to fire SEC chair Gary Gensler, celebrated the 16th birthday of the white paper, and has even launched his own crypto project.

At the same time, the Democrats have had a seemingly harsh stance against the industry. Harris has only briefly mentioned it during her presidential campaign.

Consequently, Trump sounds like the more appropriate choice for crypto investors, at least on paper. However, let’s not forget that he used to be among the vocal haters in the past, calling BTC a scam. As such, sounding good on paper is not enough for most of the community because he still needs to follow through on his promises.

Coinbase CEO Brian Armstrong has called for the next US Securities and Exchange Commission (SEC) chair to address the agency’s perceived inconsistencies in its approach to digital assets.

Armstrong’s criticism stems from the securities regulator’s shifting stance throughout the years which has caused frustration within the community.

SEC’s Contradictions on Crypto

His tweet, which accompanied a compilation of conflicting SEC statements on the issue, argued that the new chair should “withdraw all frivolous cases and issue an apology to the American people.” Armstrong laid out several examples of the SEC’s evolving position.

In 2018, the SEC stated that a digital asset “all by itself is not a security.” However, in 2021, the regulator declared that a digital asset “embodi(es)” and “represents the investment contract.” This is followed by three contradictory statements in 2024 alone.

For instance, in February 2024, the SEC stated a digital asset is “just computer code.” Then, five days later, it said the digital asset “itself ‘represents the investment contract.’” Finally, eight months later, the SEC declared the digital asset “itself ‘is not’ the security.”

The agency has also been inconsistent in determining whether Bitcoin is considered a security. In 2023, it stated that “(T)he SEC has never claimed (Bitcoin) is a security.” However, in 2024, the agency asserted “Maybe ‘(T)here’s not an answer.’” Notably, just four days later, it took yet another stance, proclaiming “‘(T)hat’s not a security.’”

The Coinbase CEO’s demand for an apology and withdrawal of “frivolous cases” reflected a broader sentiment within the community, which has long accused the SEC of overreach and a lack of clarity in its regulatory approach. Armstrong believes that restoring trust in the agency is crucial, as the damage done to the country’s financial landscape cannot be easily undone.

Shift in Leadership with Election Looming

The comments come at a crucial moment, with the US presidential election just around the corner. The Democrats have developed a reputation for their hostility towards cryptocurrency, an approach that many fear could undermine the US dollar’s status as the world’s dominant global reserve asset. Throughout her presidential campaign, Kamala Harris has made very few remarks on crypto-related issues.

On the other hand, Donald Trump has managed to curry favor with the crypto community this year. Most recently, he pledged to terminate Gensler’s tenure on his first day if re-elected and vowed to appoint a chair who believes that America should “build the future, not block the future.”

Bitcoin’s price recovery took the asset to $71,500 yesterday, but the bears interfered at this point and pushed it south by around two grand.

The altcoins are relatively sluggish today, which is somewhat expected, aside from ADA, which has emerged as the top performer.

BTC Stopped at $71.5K

The start of the business week was quite promising for the primary cryptocurrency as it jumped above $70,000 on Tuesday and kept climbing that day to a multi-month high of $73,600. As such, it came just $150 away from breaking its March all-time high of $73,740.

However, it failed to do so while the community anticipated this to occur at any given time and started losing value gradually. The most substantial correction came on Friday morning when it dumped below $69,000, thus losing three grand within hours.

The bulls stepped up during the trading day, and bitcoin climbed to $71,500 after the weaker-than-expected US jobs report for October. Nevertheless, it failed once again at that point and now sits about two grand lower.

This means that its market capitalization has dropped back down to $1,375 trillion on CG, while its dominance over the alternative coins stands tall at above 56%.

ADA Defies the Odds

Most of the larger-cap alts have calmed today with minor moves. On the one hand, ETH, BNB, SOL, XRP, TRX, AVAX, and LINK have charted insignificant losses of up and around 1-2%, while on the other, DOGE, SHIB, and TON have gained similar percentages.

Cardano’s native token has emerged as the only substantial gainer from the larger-cap alts. ADA has soared by 6% and now trades well above $0.35.

Other gainers worth mentioning include RAY (14%), XMR (5%), and MEW (5%).

The total crypto market cap has remained relatively still on a daily scale, at just under $2.450 trillion on CG.

In the latest jobs report before the 2024 US presidential elections, the world’s largest economy outlined warning data.

The country added only 12,000 jobs in October, which is one-tenth of the expected 120,000 by economists.

The reports on the matter blamed the weak data for October on the two recent hurricanes that hit a few US states and the strike at Boeing.

Still, the figure of 12,000 is not only a lot less than expectations but also massively below the 223,000 jobs added in September, which was the best month this year since March. Moreover, the average number of jobs gained monthly in 2024 stood at approximately 200,000 before the October slump.

This report has a considerable meaning for the US as the country prepares for the upcoming presidential elections that will take place in just a few days, on November 5.

Republican candidate Donald Trump faced the Democrat and current Vice-President, Kamala Harris. According to Polymarket, Trump has a substantial lead over Harris, but most other general polling stations showcase a different outcome.

Bitcoin’s price reacted rather surprisingly to the unfavorable news for the US economy, by jumping above $70,000. Recall that the asset had tumbled from $72,000 to under $69,000 earlier today.

[PRESS RELEASE – London, United Kingdom, November 1st, 2024]

CreationNetwork.ai, a groundbreaking digital platform, today announces its public launch, redefining digital engagement for businesses, content creators, and influencers. As an all-in-one solution for content creation, e-commerce, social media management, and digital marketing, CreationNetwork.ai combines 22+ proprietary AI-powered tools and 29+ platform integrations to deliver the most extensive digital ecosystem available.

Empowering Digital Transformation with 22+ AI-Powered Tools

CreationNetwork.ai’s suite of tools spans every facet of digital engagement, equipping users with powerful AI technologies to streamline operations, engage audiences, and optimize performance. Each tool is meticulously designed to enhance productivity and efficiency, making it easy to create, manage, and analyze content across multiple channels. Key tools include:

• AI Copywriter: Generates high-quality, unique content for blogs, social media, and business communications.
• AI Page Maker: Simplifies landing page creation with zero design or coding knowledge.
• AI Trend Briefs: Provides market insights and trends, positioning users at the forefront of innovation.
• AI Bot Maker: Creates intelligent chatbots for seamless user interaction and customer support.
• AI Video Maker: Produces captivating, brand-aligned promotional videos.
• AI Video Ambassador: Transforms text scripts into spokesperson videos with customizable avatars.
• AI Voiceovers Studio: Offers lifelike voiceovers in multiple languages and accents.
• AI SmartVoice Replicator: Clones voices to maintain brand consistency across content.
• AI Voice Modifier: Enhances voice recordings, elevating audio quality effortlessly.
• AI SmartTranscriber: Converts audio into text with accuracy, ideal for transcription and subtitles.
• AI Design Studio: Enables professional-quality graphic creation without design skills.
• AI BrandMagic: Instantly creates essential brand assets like logos and business cards.
• AI Banners: Tailors banners for digital platforms and campaigns.
• Art Academy – Image Genius: Allows text-to-image transformation, animations, and editing with AI.
• Social Metrics Analytics: Offers detailed insights on social media performance metrics.
• Social SmartEngagement: Increases engagement through targeted AI-driven insights.
• Social PublishMaster: Automates social publishing with optimized timing and platform synchronization.
• Social Listen Monitor: Tracks brand mentions and audience sentiment across social media.
• Social Automation Optimize: Automates repetitive tasks, improving workflow and engagement.
• Social CollaborationPro: Fosters team collaboration, managing content creation and approval processes.
• AI & Automation: Integrates AI-driven insights across content creation, engagement, and analytics.
• Team-Powered Branding: Amplifies brand messaging through employee advocacy.

Each of these tools is designed to optimize digital engagement, reduce manual workload, and enable users to focus on impactful, strategic actions. CreationNetwork.ai’s suite harnesses the transformative power of AI and blockchain, fostering both creativity and precision.

Comprehensive Integration Network: 29+ Platform Connections for Maximum Reach

One of the most distinguishing features of CreationNetwork.ai is its extensive integration network. With over 29 integrations, users can synchronize their digital activities across major social media, e-commerce, and content platforms, providing centralized management and engagement capabilities.

Social Media Integrations: Facebook, X (Twitter), Instagram, LinkedIn, Pinterest, TikTok, YouTube, WhatsApp, Telegram, Discord, and Snapchat.

E-commerce Integrations: Google Business Profile, Shopify, WooCommerce, Etsy, BigCommerce, Ecwid, and Wix Commerce, supporting online retailers with seamless inventory and order management.

Content Creation Integrations: Canva, Grammarly, Airtable, Zapier, Make, Adobe Express, Unsplash, Giphy, Pexels, Pixabay, and Dropbox allow users to access resources for content creation and file management without leaving the CreationNetwork.ai platform.

This integration network empowers users to manage their brand presence across platforms from a single, unified dashboard, significantly enhancing efficiency and reach.

Community Incentives: CRNT Token Airdrop and ICO Whitelisting

In preparation for its Initial Coin Offering (ICO), CreationNetwork.ai is launching a $750,000 CRNT Token Airdrop to reward early supporters and incentivize participation in the CreationNetwork.ai ecosystem. Qualified participants can secure their position by following CreationNetwork.ai’s social media accounts and completing the whitelist form available on the official website. This initiative highlights CreationNetwork.ai’s commitment to building a strong, engaged community.

Whitelist Form:

CreationNetwork.ai: The Future of Digital Content and Marketing

CreationNetwork.ai is also a comprehensive digital ecosystem for businesses, creators, and marketers. Combining the power of AI and blockchain, CreationNetwork.ai redefines how users manage their digital presence, from crafting content to engaging with audiences across diverse channels. Its suite of tools, extensive integrations, and commitment to community-building make CreationNetwork.ai a leading solution for digital transformation.

“CreationNetwork.ai is built to set a new benchmark in digital engagement,” said Ali Demir, CEO of CreationNetwork.ai. “We’re providing creators and businesses with an all-encompassing solution that combines innovative AI, deep platform integrations, and automation. Our platform is truly one of a kind, empowering users to harness the full potential of digital technology.”

About CreationNetwork.ai

CreationNetwork.ai is a leader in AI-driven content creation, social media management, and e-commerce solutions, leveraging blockchain technology to empower its users with advanced digital engagement tools. Through a broad spectrum of AI tools and extensive integrations, CreationNetwork.ai is dedicated to transforming the way brands, businesses, and creators connect with audiences in an ever-evolving digital world.

For further information, users can visit and

Users can also connect with CreationNetwork.ai on their Social Media:

Telegram: creationnetworkCRNT

Twitter: @CRNTNetworkAI

Facebook: AINetwork369

Instagram: creationnetwork.ai

YouTube: CreationNetwork AI

[PRESS RELEASE – Tokyo, Japan, October 31st, 2024]

Mawari Network, a spatial computing DePIN (Decentralized Physical Infrastructure Network), has announced a limited node license sale. Already a pioneer in immersive content, the node sale will make Mawari’s 3D streaming technology more scalable and accessible for content creators and developers. This node sale will help create a global, decentralized spatial computing infrastructure as the market for extended reality devices like the Apple Vision Pro, Meta Orion, and Meta Quest 3 is projected to reach more than 100 million units in the next five years. As demand for immersive experiences grows, Mawari is building a network that can grow with it.

Mawari’s infrastructure is optimized for the demanding needs of immersive experiences, positioning Mawari as a key actor in the emerging multibillion-dollar spatial computing market. Called “a sleeping lion” by Samsung Next, Mawari is redefining and building the future of spatial computing. Its solution comprises the Spatial Streaming SDK and the Mawari Network. The SDK, supporting the Unity and Unreal engines, empowers developers to create seamless, immersive experiences. The Mawari Network, working in parallel, leverages a globally distributed network of GPU nodes to ensure low latency and optimal performance. The node license sale’s objective is to help scale the network, optimize its global performance, and ensure its resiliency.

“This node sale allows node operators to help bring 3D content to the world, and be rewarded for their efforts,” Luis Oscar Ramirez, Mawari’s Founder & CEO said. “The current cloud services didn’t allow us to scale our proprietary spatial streaming technology, we researched ways to scale immersive content and found DePIN was clearly the best option. Now, we can allow our global community of node operators to participate in building out our critical node network alongside our community of developers and content creators.”

Mawari has worked with industry leaders, such as Deutsche Telekom, KDDI, Telefonica, Magic Leap, Netflix, Qualcomm, T-Mobile and dozens of other clients. The Solana Foundation recently selected Mawari for a grant, endorsing its roadmap for decentralized spatial computing. Backed by investors including Anfield LTD, Borderless Capital, 1k(x), and Samsung Next, and with veteran DePIN and web3 operator, Sean Carey, a co-founder of Helium, also joining its board, Mawari is the clear category leader.

Node Sale Details

The node sale is scheduled for Q4 2024, building out the Mawari Network’s ability to perform compute-intensive tasks and efficiently deliver immersive 3D content on a global scale. The Mawari Network will be leveraging specialized GPUs around the world for advanced computation and streaming tasks, but a set of Guardian Nodes are needed to verify their work and the performance of the network overall as it serves multiple simultaneous immersive experiences. The node sale is for licenses to operate these critical Guardian Nodes.

More specifically, Guardian Nodes’ responsibilities include assessing critical performance indicators like latency, bandwidth, and content quality to maintain the high standards necessary for immersive, real-time experiences. By monitoring the Mawari network, the community-run Guardian Nodes will make it more performant and more resilient, ensuring it can scale securely as it grows.

Details of the node license sale will be announced soon.

About Mawari

Mawari is setting the standard for decentralized spatial computing and immersive content delivery. The Mawari Network powers real-time streaming of immersive content through a global network of compute nodes. Mawari is optimizing XR for awe, creating unforgettable experiences and revolutionizing how creators engage audiences at scale.

Mawari Network built the foundational technologies to power the next generation of interactive media, fully realizing the possibilities of virtual worlds existing seamlessly alongside our physical reality. Its core technology, the Mawari Engine and Spatial Streaming SDK, runs on the Mawari Network — the world’s first and only DePIN (Decentralized Physical Infrastructure Network) that orchestrates storage, bandwidth, and rendering in real-time for spatial computing.

Bypassing the rendering limitations of existing mobile devices and content delivery networks, Mawari’s global network of compute nodes has already powered activations from digital fashion shows to concert visualizations. The Mawari Network’s peer-to-peer architecture was purpose-built to scale spatial media streaming requirements with a community-centered ethos.

Website:

X (Twitter):

Discord:

[PRESS RELEASE – San Francisco, USA, October 31st, 2024]

Tony Vejseli, Figure Markets Holdings Inc., and GXD Labs, LLC (collectively “the Group”) today issued a statement to address recent developments following a meeting held on October 28 at White & Case’s Midtown Manhattan offices, where the Group met with the board of directors (the “Board”) and management team of Ionic Digital, Inc. (the “Company” or “Ionic”). The Group thanked White & Case for hosting the discussion but noted a need for clarification following the Company’s summary of the meeting in a press release, which they believe misrepresented several key points.

In response to Ionic’s statement regarding its affirmation of “strong momentum” and its “laser-focus” on implementing its strategic initiatives, the Group raised concerns over the Board’s apparent lack of knowledge of core operating metrics. They highlighted that the Board appeared unprepared to discuss any aspects of its financial or operational performance, including by answering any of Mr. Vejseli’s questions as described in his post on X, leading to questions about the Company’s competitive position and valuation. The Group also expressed skepticism about Ionic’s ability to complete its audit, initially expected in early 2024 and now anticipated by Q1 2025 according to the Company, within the announced timeframe due to the apparent lack of available financial information, including the Company’s EBITDA and expenses.

The Group indicated that alternative liquidity options for shareholders were discussed, yet they felt these options had not been fully explored or evaluated by the Board. The Group also raised concerns over Ionic’s contract with Hut 8, noting that, although it had presented a proposed solution, no alternative path forward was discussed by the Board or management.

During the meeting, the Group outlined a proposed plan for refreshment of the Board, specifically suggesting the resignation of three current board members—Scott Duffy, Tom DiFiore, and Emmanuel Aidoo – to be replaced by three new, independent directors with the requisite experience and skill sets. The proposal, supported by a detailed presentation, emphasized the need for strategic and experienced leadership to better align the company’s actions with shareholder interests.

Shareholders are encouraged to review the proposal and consider supporting a special meeting to vote on board changes.

About Figure Markets

Figure Markets is democratizing finance through blockchain. We’re building the exchange for everything – a decentralized custody marketplace for crypto, stocks, bonds, credit and more. We’re bringing best-in-class leverage, margining, and liquidity to our exchange, while offering our members extensive borrowing options and unique investment opportunities. Figure Markets puts our members in control of their assets and data, disintermediating legacy brokers, exchanges and lenders.

Figure Markets is backed by leading venture capital firms and strategic partners, including Jump Crypto, Pantera, Distributed Global, Faction Lightspeed, NewForm Capital and CMT Digital. Figure Markets was founded by a seasoned team of entrepreneurs and operators from TradFi, fintech, and DeFi, including Mike Cagney and June Ou.

Users can learn more at www.figuremarkets.com.