Kategorie: Crypto Business

Galaxy Digital Holdings Ltd. has announced plans to repurchase roughly 10.6 million ordinary shares, comprising 10% of the company’s public float.

The financial services and digital assets firm said this in a press release on Wednesday.

Per the firm, whose shares are publicly traded on the Toronto Stock Exchange (TSX), the buyback plans have received the backing of the Board of Directors. The purchase notice will now be forwarded to the TSX.

The purchase program will run for the next one year or terminate earlier if the company reaches the targeted shares. Galaxy Digital has not conducted any repurchases of ordinary shares in the past twelve months, the company said in the press release.

On Monday, the crypto-focused firm announced its first-quarter 2022 earnings results, showing a net loss of $111.7 million. The company attributed the loss to the drawdown in the crypto market and in related investments. In the same quarter a year ago, Galaxy Digital made an $858.2 million profit.

On Tuesday, the GLXY price closed at CA$10.52.

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Binance will over the next three years be the exclusive crypto sponsor of four competitions organised by the Confederação Brasileira de Futebol (CBF)

Binance, the world’s largest crypto exchange platform by trading volume, has announced a new partnership with the Brazilian national football body, making the crypto provider the official crypto sponsor of four competitions overseen by the Confederação Brasileira de Futebol (CBF).

Changpeng Zhao, the CEO and founder of Binance said the collaboration will help drive crypto adoption in Brazil given the massive popularity that football enjoys in the country.

“Sport is an important driver for inclusion in society. With football being strongly linked to Brazilian identity and culture, our partnership with CBF is important to help expand crypto adoption and generate positive impact for our users, the crypto and blockchain community, and society as a whole in Brazil,” Zhao said.

Per a blog announcement Binance published on Monday, the three-year deal will see the crypto giant act as the exclusive crypto sponsor of the Brasileirão Assaí, Brasileirão Female Neoenergia, Brasileirão Female A-2 and Brasileirão Female A-3.

Under the terms of the deal, Binance will benefit from promotions and advertisement opportunities at the tournaments. The exchange, on the other hand, will help develop Fan Tokens and NFTs for the CBF.

The deal with CBF adds to Binance’s growing footprint in the Brazilian sporting space, with the exchange having signed deals with the Paulistão Sicredi and Santos Football Club.

On the international scene, Binance has partnerships with Portuguese soccer giants Porto and Italy’s Lazio. The exchange also sponsored the 2022 African Cup of Nations.

The post Binance signs sponsorship deal with Brazil’s CBF appeared first on Coin Journal.

Crypto mining firm Argo Blockchain PLC (LSE:ARB) and (NASDAQ:ARBK) has secured additional financing for the purchase of digital asset mining equipment, according to a press release published on Wednesday.

The London-based miner announced the loan facility was acquired through its subsidiary Argo Helios from New York Digital Investment Group (NYDIG).

Argo eyes more miners for its Texas-based facility

Under the new terms of their previously signed equipment financing agreement, Argo Helios is set to receive up to $70.60 million (roughly £56.3 million) from the US-based firm. The loan will be issued “subject to customary drawdown conditions,” Argo noted in its announcement.

Argo CEO Peter Wall said that the additional funds will help the company get mining equipment ready at its Texas-based mining facility Helios.

“NYDIG understands the financial requirements of large-scale bitcoin miners and we are excited to continue working with them to execute and deliver on the next phase of Argo’s growth,” he added.

Argo Blockchain is among the largest Bitcoin miners in the world, with the company’s operations pegged on the use of clean energy.

In the market, the London Stock Exchange-listed stock fell 0.02% on Wednesday, closing at £62.49. The stock has gained more than 4% in the past five days. 

However, the ARB price has shed over 30% year-to-date, with the losses aligned with the downtrend witnessed across the crypto markets for much of 2022.

The post Argo Blockchain secures $71 Million NYDIG loan to buy more Bitcoin miners appeared first on Coin Journal.

The Valkyrie Avalanche Trust is targeted for accredited investors only.

Digital asset investment manager Valkyrie has officially launched a new crypto fund trust pegged on the Avalanche (AVAX) cryptocurrency.

The new trust, the Valkyrie Avalanche Trust (VAVAX) will offer institutional investors an opportunity to invest in Avalanche’s native token AVAX.

The trust offers exposure to Avalanche amid increased interest among institutions in the industry’s decentralised finance (DeFi), non-fungible token (NFT) and other crypto projects.

Currently, Avalanche is one of the leading platforms for these projects. Accredited investors now have an opportunity to access the ecosystem via a secure trust fund.

“Today, we are proud to announce the Valkyrie Avalanche Trust (VAVAX). Avalanche has rapidly ascended the digital asset rankings to play a significant role in #DeFi. VAVAX provides secure access to Avalanche’s native currency, $AVAX, within the ease of a trust vehicle,” Valkyrie said in an announcement on Wednesday.

The launch of the Valkyrie Avalanche Trust (VAVAX) comes just weeks after the investment manager announced the Valkyrie Multi-Coin Trust. The trust also held AVAX, with other assets included being Binance’s BNB, Polygon (MATIC) and Terra (LUNA).

Valkyrie also offers single-asset trusts for Bitcoin (BTC), Dash (DASH), Tron (TRX), Ziliqa (ZIL), and Polkadot (DOT).

AVAX was trading around $61.25 at the time of writing, up 2.3% in the past 24 hours. The slight gains for the cryptocurrency come amid broader weakness across the crypto markets, with AVAX/USD down more than 10% over the past week.

The post Valkyrie launches Avalanche Trust (VAVAX) appeared first on Coin Journal.

Bentley University, a US university based in Massachusetts, has announced that it shall start accepting cryptocurrencies as Tuition fees. According to the official announcement by the university, it shall partner with Coinbase crypto exchange to accept tuition fees in Bitcoin (BTC0, Ethereum (ETH), and USDC.

Bentley has become the first university in the US to accept the use of digital currencies for paying tuition fees.

Besides accepting crypto payments, Bentley University also said that it also plans to start accepting donations and gifts in the three respective cryptocurrencies.

In a statement following the announcement, Bentley President E. LaBrent Chrite said:

“We’re proud to embrace this technology that our students are learning about, which will soon transform the global business landscape they’re about to enter.”

Bentley University and cryptocurrencies

Last year, Bentley University issued NFTs celebrating the hall of fame induction of their former women’s basketball coach and became the first university in the world to issue NFTs.

Also, Alex Kim who is a student at Bentley launched a student-led blockchain group called Bentley Blockchain Association last fall. Alex started investing in cryptocurrencies while in high school and he cited interest in cryptocurrencies among students as the main reason he started the association.

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