Monthly Archives: January 2023

Argo Blockchain Achieves Compliance with Nasdaq Listing Rules, Shares Soar

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• Argo Blockchain has regained compliance with Nasdaq’s listing rule after fulfilling the minimum bid price requirement.
• The firm got a notification from Nasdaq’s Listing Qualifications Department that it has achieved compliance with the minimum bid price requirement on Jan. 13, 2023.
• Nasdaq has confirmed that the matter has been closed.

On January 23, 2023, major cryptocurrency mining company Argo Blockchain made an important announcement that it had regained compliance with the listing rules of the American stock exchange giant, Nasdaq. The crypto miner was able to fulfill the minimum bid price requirement of $1.00 for ten consecutive trading days, which was fulfilled on Jan. 13, 2023.

The news came after Argo Blockchain received a notification from Nasdaq’s Listing Qualifications Department on December 16, 2022, that its stock had closed below the minimum $1.00 for 30 consecutive trading days. The firm was then given a deadline of June 12, 2023 to rectify the situation. Fortunately, Argo Blockchain was able to resolve the issue within the stipulated time and regained compliance with Nasdaq’s listing rules.

The announcement of the successful fulfillment of the minimum bid price requirement was welcomed by the company’s shareholders. The news also came at a time when Argo Blockchain was experiencing liquidity issues and making efforts to avoid filing for bankruptcy.

Nasdaq has since confirmed that the matter is now closed and has sent a written notification to the firm that it has achieved compliance with the minimum bid price requirement. This is great news for Argo Blockchain, as it will now be able to regain investor confidence and continue to conduct its business operations without any major legal hindrance.

Overall, the news of Argo Blockchain meeting the Nasdaq minimum bid requirement is a huge relief for the firm and its shareholders, as it will help the company get back on track and continue to operate without any worries. The successful resolution of this issue will no doubt boost investor confidence in the firm and help it to further strengthen its foothold in the cryptocurrency mining industry.

24. January 2023

Skybridge Capital to Buy FTX’s Stake: Process to Take Months

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• Skybridge Capital, a universal investment organization in New York, announced that it may buy back FTX’s stake in the company.
• Anthony Scaramucci, CEO of Skybridge Capital, stated that the purchase could take months to finalize due to its contextual process.
• Richard Gardner, Chief Executive Officer of Modulus, argued that Sam Bankman’s investment into the stake was not pertinent and seemed more like a life jacket than a lifeboat.

Skybridge Capital, a global investment company based in New York, has announced its plan to purchase FTX’s stake in the company. The purchase, which could take months to finalize, is dependent on the clearance from investment bankers, bankruptcy officers, and lawyers.

Anthony Scaramucci, CEO of Skybridge Capital, spoke about the potential purchase, remarking that the process is contextual. He proposed that the deal be finalized at the end of the first quarter of 2023. FTX had bought 30% of Skybridge Capital in September 2022, before its bankruptcy. Skybridge had plans to use $40 million from the deal to invest in the crypto industry and use the balance sheet for long-term investments.

Richard Gardner, Chief Executive Officer of Modulus, has voiced his concerns about the purchase, arguing that Sam Bankman’s investment into the stake was not pertinent and seemed more like a life jacket than a lifeboat. White House communications director Anthony Scaramucci also argued, stating that the purchase could be a risky venture for one entity.

The purchase of FTX’s stake in Skybridge Capital is still in the process of being finalized. Investment bankers, bankruptcy officers, and lawyers are still working to determine the best time and method for the purchase. Skybridge is confident that it will be able to finalize the purchase by the end of the first quarter of 2023.

16. January 2023

CME Launches Reference Rates for AXS, CHZ, and MANA Tokens

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• The US’s largest and most diversified derivatives market, the Chicago Mercantile Exchange (CME) announced the launch of reference rates for Axie Infinity (AXS), Chiliz (CHZ) and Decentraland (MANA) on Jan.30.

• CME Group’s head of cryptocurrency products, Giovanni Vicioso said that the reference rates and indexes will allow investors to access reliable pricing data for AXS, CHZ and MANA.

• The announcement follows CME’s late December announcement that the company launched three new decentralized finance (DeFi) and reference and real-time indexes for Curve (CRV), Synthetix (SNX), and Aave (AAVE).

The US’s largest and most diversified derivatives market, the Chicago Mercantile Exchange (CME) recently announced the launch of reference rates for three major metaverse and sports ecosystems’ tokens: Axie Infinity (AXS), Chiliz (CHZ) and Decentraland (MANA). This allows investors to access reliable pricing data for AXS, CHZ and MANA in a way familiar to traditional finance participants.

The reference rates and indexes will be priced in dollars, published daily at 4:00 PM GMT and use data from at least two exchanges each, including Bitstamp, Coinbase, Kraken, itBit and LMAX Digital. This move is part of CME’s mission to help investors price sector-specific portfolios, develop structured products and manage price risk around various Metaverse-based projects.

CME Group’s head of cryptocurrency products, Giovanni Vicioso also pointed out that neither the reference rates nor the indexes will be tradeable products and are solely meant to help investors access reliable pricing data.

The announcement follows CME’s late December announcement that the company launched three new decentralized finance (DeFi) and reference and real-time indexes for Curve (CRV), Synthetix (SNX), and Aave (AAVE). This will allow investors to capture more than 40% of the total value locked in DeFi protocols on ethereum (ETH).

Back in August, the CME also launched bitcoin (BTC) and ethereum futures, allowing investors to trade on the licensed exchange Euro-denominated BTC and ETH futures contracts. This allows traditional finance participants to access crypto-based products in a familiar way.

The launch of reference rates for AXS, CHZ and MANA is a major milestone for the crypto industry, as it shows that the industry is maturing and becoming more accessible to traditional finance participants. With the launch of these reference rates, investors now have more options when it comes to accessing reliable pricing data for major metaverse and sports ecosystems’ tokens. This will open up more opportunities for investors and create a more diverse and liquid crypto market.

8. January 2023

Be Part of History: Join Decentraland’s 1st Metaverse Biennale Embassy Event

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• Decentraland announced its first metaverse architecture & design biennale embassy event to be held on January 6, 2023.
• The event is open to anyone and will host over 50,000 visitors over five days.
• Participants can pitch new ideas, enter NFT contests, receive gifts & merch, and collaborate with opinion leaders and partners.

Decentraland, the world’s leading metaverse, has just announced the first-ever metaverse architecture and design biennale embassy event. This groundbreaking event will take place on January 6, 2023 at 6:05 pm at the DCL coordinates -67:10. This unique experience will be a large district that is a union of architectural pieces created by major architects from all over the world.

The event is open to anyone who wishes to participate, and it is expected to host over 50,000 visitors over the course of five days. The biennale event will be available on two major platforms, Decentraland and Arhead. Participants have the opportunity to pitch their ideas about the metaverse and can even win grants for the realization of their ideas. They can also enter NFT contests and receive gifts and other merch.

In addition, opinion leaders and partners will be attending the event to provide funding to organizations and to encourage effective collaboration among creators. The program for the event will begin with opening and closing sermons, followed by lectures, public talks, and performances.

This event is an exciting opportunity for anyone who has an interest in metaverse architecture and design. All those who wish to participate can do so by simply browsing the event on the internet and gaining direct access, no registration is required.

Decentraland is proud to present the first metaverse architecture and design biennale embassy event and looks forward to seeing the amazing works of art and designs that participants will bring to the event. This event is sure to be a great success and will be remembered for years to come as the first of its kind.

8. January 2023