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VANCOUVER, British Columbia, March 18, 2021 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF:OTCQB US) (FRANKFURT:6AX) (“DMG” or the “Company”), a vertically integrated blockchain and cryptocurrency technology company, today announces that its Board of Directors has approved, along with its self-mining, to incorporate a Bitcoin accumulation strategy to significantly increase the Company’s Bitcoin (“BTC”) treasury holdings. After watching for buying opportunities in the market over the last few days and weeks, DMG has started to implement this plan by executing Bitcoin purchases in the amount of roughly 220 BTC since Monday afternoon through customary cryptocurrency exchanges and direct over-the-counter (“OTC”) trades. DMG intends to periodically purchase BTC, based on market conditions, trends and corporate opportunities.
Over the long term, DMG intends to increase its Bitcoin treasury by mining and holding it. In addition, the Company will, from time to time, acquire Bitcoin through a direct investment model such as using funds which are budgeted for later capital deployments. This will allow DMG to use Bitcoin as an ideal store of value, and also as a means to transact, as needed.
“Buying Bitcoin helps to efficiently diversify DMG’s monetary holdings away from cash, and over time we intend to make BTC our treasury currency of choice,” said DMG’s COO, Sheldon Bennett. “We are well connected in this industry and therefore know that many more companies will shortly begin to add Bitcoin to their balance sheets as a hedge against the ongoing dilution and inflation. We believe this will contribute to an even stronger Bitcoin price in the coming weeks and months, from which DMG is positioned to significantly benefit.”
Moving forward, DMG will continue to implement its two-fold business strategy: to grow the corporate blockchain businesses in all of its three divisions (including but not limited to Bitcoin mining and Bitcoin pool management), and to hold newly-mined Bitcoin rewards and acquire additional Bitcoin as a treasury reserve asset, when possible.
“Just as an individual or corporate investor might hold large cash positions, so they might face significant risk of loss of value due to inflation alone. However, that risk doesn’t exist with Bitcoin, which is a deflationary asset by default, with an ever-increasing demand for this superior cryptocurrency. This demand is mainly driven by rapidly growing institutional adoption and an increasingly large demand by retail investors. Coupled with a drastically declining supply of new coins, ultimately, we expect continuously rising Bitcoin prices, which is exactly what we’ve been witnessing in the last few months. We believe Bitcoin has and will continue to have greater value than traditional currencies such as the US dollar,” added DMG’s CEO, Daniel Reitzik.
About DMG Blockchain Solutions Inc.
DMG is a vertically integrated blockchain and cryptocurrency company that manages, operates, and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG’s businesses are segmented into three main divisions: data centre operations, data analytics and forensics and developing enterprise blockchains. DMG’s data centre operations focus on earning revenues from block rewards and transaction fees by mining primarily bitcoin as well as providing hosting services for industrial mining clients. DMG’s data analytics and forensic services provide technical expertise software products such as Blockseer Pool, Mine Manager and Walletscore, as well as working with auditors, law firms, and law enforcement organizations. DMG’s permissioned blockchain technology is focused on developing enterprise software for the supply chain management of controlled products. DMG’s strategy is to become the domain experts across the business verticals it focuses on. DMG’s management team includes seasoned crypto experts, forensic & financial professionals and blockchain developers with deep relationships throughout the industry.
Future changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hashrate may materially affect the future performance of DMG’s production of Bitcoin, and future operational results could also be materially affected by the price of Bitcoin and an increase in hashrate mining difficulty.
For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com
On behalf of the Board of Directors,
Daniel Reitzik, CEO & Director
For further information, please contact:
DMG Blockchain Solutions Inc.
Email: investors@dmgblockchain.com
Web: www.dmgblockchain.com
For Media Inquiries:
Jules Abraham, Head of Public Relations
CORE IR
jabraham@coreir.com
Investor Relations Contact:
CORE IR 516-222-2560
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information or statements” based on current expectations. Statements about the Company’s plans for purchasing Bitcoin, mining and holding Bitcoin, the expected price of Bitcoin, growing the corporate blockchain businesses, to increase petahash (PH) by self-mining, price of bitcoin, plans and intentions, other potential transactions, acquisition of customers, product development, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company’s financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoins; security threats, including a loss/theft of DMG’s bitcoins; DMG’s relationships with its customers, distributors and business partners; the inability to add more power to DMG’s facilities; DMG’s ability to successfully define, design and release new products in a timely manner that meet customers’ needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements.
The securities of DMG are considered highly speculative due to the nature of DMG’s business.
Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoins from DMG or its customers, consumer sentiment towards DMG’s products, services and blockchain technology generally, failure to develop new and innovative products, decrease in the price of Bitcoin and other cryptocurrencies, litigation, increase in operating costs, increase in equipment and labor costs, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by third parties in respect of the matters discussed above.
VANCOUVER, British Columbia, Feb. 22, 2021 (GLOBE NEWSWIRE) — BIGG Digital Assets Inc. (“BIGG” or the “Company”)(CSE: BIGG; OTCQB: BBKCF; WKN: A2PS9W), owner of Netcoins (Netcoins.ca) (“Netcoins”), the online cryptocurrency brokerage that makes it easy for Canadians to buy, sell, and understand cryptocurrency, and owner of Blockchain Intelligence Group (“BIG”), a leading developer of Blockchain technology search, risk-scoring and data analytics solutions, is pleased to announce that it has acquired 60.7 additional Bitcoins which will be used for the Netcoins operational float, and also become part of BIGG’s long term treasury holdings. BIGG purchased these 60.7 Bitcoins at an average cost of USD$44,970 per BTC.
This purchase, added to BIGG’s existing Bitcoin holdings, brings the treasury to 300 Bitcoin, valued at CAD ~$21.5 million (USD ~$17.1 million) as of 7pm PST February 21, 2021. BIGG believes strongly in the future of Bitcoin, its store of value capability, and its future valuation potential.
BIGG CEO, Mark Binns, remarks, “As previously committed, BIGG has continued to accumulate Bitcoin in order to provide an operational float for Netcoins which continues to experience significant monthly increases in trading volume. We will also put BIGG’s operational profits into Bitcoin on a monthly basis going forward, as per plan. We look forward to updating shareholders with more operational updates soon.”
On behalf of the Board
Mark Binns
CEO
mark@biggdigitalassets.com
T:+1.844.515.2646
About BIGG Digital Assets Inc.
BIGG Digital Assets Inc. (BIGG) believes the future of crypto is a safe, compliant, and regulated environment. BIGG invests in products and companies to support this vision. BIGG owns two operating companies: Netcoins (netcoins.ca) and Blockchain Intelligence Group (blockchaingroup.io).
Netcoins develops brokerage and exchange software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins utilizes BitRank Verified® software at the heart of its platform and facilitates crypto trading via a self-serve crypto brokerage portal at Netcoins.app.
Blockchain Intelligence Group (BIG) has developed a Blockchain-agnostic search and analytics engine, QLUETM, enabling Law Enforcement, RegTech, Regulators and Government Agencies to visually track, trace and monitor cryptocurrency transactions at a forensic level. Our commercial product, BitRank Verified®, offers a “risk score” for cryptocurrencies, enabling RegTech, banks, ATMs, exchanges, and retailers to meet traditional regulatory/compliance requirements.
For more information and to register to BIGG’s mailing list, please visit our website at https://www.biggdigitalassets.com. Or visit SEDAR at www.sedar.com.
Forward-Looking Statements:
Certain statements in this release are forward-looking statements, which include completion of the search technology software and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of BIGG. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Undue reliance should not be placed on the forward-looking information because BIGG can give no assurance that they will prove to be correct. Important factors that could cause actual results to differ materially from BIGG’s expectations include, consumer sentiment towards BIGG’s products and Blockchain technology generally, technology failures, competition, and failure of counterparties to perform their contractual obligations.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BIGG disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BIGG undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
The CSE does not accept responsibility for the adequacy or accuracy of the content of this Press Release.
Yearn.Finance team has opened a Maker vault with native tokens YFI from the treasury. The team said on 9 February on Twitter that Yearn has also minted 9.7 million DAI tokens from the vault, thus restoring the yDAI vault and allowing the DeFi project to repay victims.
In the wake of Yearn.finance’s recent hack, project members have been discussing ways to mitigate the aftermath of the recent exploit on its users. The DeFi project recently suffered a theft of $2.8 million and cost the vault $11 million in stablecoin DAI.
In addition, the Yearn team has informed users not to count on this happening again since the plans were “done as a one-off celebration.” Yearn also expects its users to purchase Cover, a market coverage provider.
yDAI vault restored!
Yearn has opened a Maker Vault with YFI from the Treasury to mint 9.7m DAI and make the yDAI vault whole.
It was done as a one-off celebration of going through this DeFi rite of passage. Don’t count on it happening again. Make sure to buy Cover next time. pic.twitter.com/6xNh3XEVYZ
— yearn.finance (@iearnfinance) February 9, 2021
On 28 December, last year, Cover suffered an attack, however, the suspected hacker soon returned the stolen funds.
After the exploit, Yearn’s governance token crashed by 15% in less than two hours, at the time. Users began to convert YFI into ETH and other tokens as well.
As a result, YFI prices fell to $29,600 from $35,000. During the present rally when most cryptos have been on a bullish trend, YFI seem to be recovering and was trading at $31,842, down 0.9% over the past hour, at press time.
The total value locked in Yearn has been steady so far, with $481.8 million in TVL, which has been up by 5.6% in the past 24 hours according to data from DeFi Pulse.
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Francis Suarez, Miami’s pro-crypto mayor, is working on a plan to bolster the city’s treasury reserves with Bitcoin (BTC). Suarez unveiled this bullish information through a tweet on February 8, noting that the city’s commission would hold a meeting on February 11 to address the matter. He posted the tweet in response to another tweet from Anthony Pompliano, a renowned BTC proponent.
After discovering that Tesla had purchased BTC worth approximately £1.01 billion, Pompliano tagged Suarez in his tweet and added that the race to determine which municipality would be the first to add BTC to its balance sheet had started. Pompliano nudged Suarez further by saying, “Let’s make sure Miami continues to be the national leader in anything technology related”.
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Responding to this, Suarez said,
Working on a resolution for our commission for this Thursday’s meeting to get the ball rolling… @elonmusk ’s announcement was very helpful.
However, he noted that if Amazon decided to dip its toes in the crypto sector, the news would significantly benefit BTC, helping the coin surge further.
Going all-in on crypto
This news comes after Suarez appointed Saif Ishoof, the vice president of engagement for Florida International University, as the city’s first-ever Chief Technology Officer. Reportedly, this appointment was part of the mayor’s broader plan to make Miami a tech hub.
Before this, he also met with Cameron and Tyler Winklevoss, the founders of Gemini Exchange, where he disclosed that he sought to make Miami a crypto capital. During the meeting, the Winklevoss twins highlighted how Miami and its residents would benefit from adopting crypto, pointing out crypto-specific perks such as enjoying zero-remittance fees and instantaneous transactions.
In response, Suarez said Miami has the potential to become a technological hotbed. He noted that the city has a reputation for being a financial hub. Apart from this, Miami boasts enough capital and a rich banking network that would help drive the mass adoption of crypto. However, he said that the city would have to embrace crypto first.
While it is not clear if the Thursday meeting might result in Miami going the crypto way, the mere fact that Suarez organized it is a great gesture, considering he only became a visible crypto advocate recently.
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TORONTO, Feb. 03, 2021 (GLOBE NEWSWIRE) — Routemaster Capital Inc. (the “Company” or “Routemaster”) (NEO: DEFI) (GR: RMJR), a Canadian decentralized finance company, is pleased to announce its diversified portfolio of DeFi protocols has grown 101.6% in value since January 12, 2021.
On the January 12, 2021, Routemaster announced it had made investments in a diversified portfolio of DeFi protocols. Some of the main positions taken were SNX, AAVE, UNI, and YFI, amongst others. Each of the protocols was selected for their active and growing user bases, strong volumes on their platforms, leading investors, and continued growth in Total Value Locked. The platforms are market leaders in their respective use cases including borrowing and lending, decentralized exchanges, derivatives, and asset management. Since investing on January 12th, the portfolio has grown by 101.6% in value calculated as of the 31st of January at 11.54 AM CET. Additional yield was generated by staking the various protocols and lending out the assets.
Routemaster is also pleased to announce Thibaut Ceyrolle, EMEA founder and VP of Snowflake Inc., has joined the board of advisors of Routemaster. Thibaut has a wealth of experience in growing and scaling Software and Cloud industries companies for more than 20 years. He was Snowflake’s first employee outside the United States. Under Thibaut’s leadership, Snowflake EMEA grew from zero to a presence in 14 countries, and several hundred new customers and employees with an unprecedented growth in the Software industry. Snowflake is one of the most successful IPOs in the software industry and the largest software initial public offering in Q4 last year. Thibaut has been named the #1 Sales leader 2020 in the sales confidence community.
“I am honoured to become an advisor of Routemaster Capital, which is bringing a revolution in the decentralized finance space to the public markets. The cloud revolutionized the IT space, and decentralized finance will do the same for finance. Routemaster is helping the democratization and access to DeFi for public market investors,” said Mr. Ceyrolle.
“We are very excited to have a person of Thibaut’s caliber join our advisory team. His experience growing Snowflake will help us build Routemaster into a key player in the DeFi ecosystem,” said Wouter Witvoet, who’s also an advisor to the Company.
Olivier Roussy Newton has joined Routemaster as Entrepreneur-in-Residence. In this position, Newton will help seek out strategic investments and partnerships for the Company. Olivier is the founder of HIVE Blockchain Technologies (TSX.V HIVE) which was among the first public companies focused on cryptocurrency mining.
About Routemaster Capital Inc.:
Routemaster Capital Inc. is a Canadian company that carries on business with the objective of enhancing shareholder value through building and managing assets in the decentralized finance sector.
For further information, please contact:
Daniyal Baizak
President and Chief Executive Officer
Tel: +1 (416) 861-1685
Cautionary note regarding forward-looking information:
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the growth of the Company’s portfolio value; the appointment of new advisors; the pursuit by Routemaster and its subsidiaries of investment opportunities; the decentralized finance industry and the merits or potential returns of any such investments. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
THE NEO STOCK EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Both Democrats and Republicans agree
[Blockchain Today Reporter Seo-yeon Jang] The appointment of former Federal Reserve Chairman Janet Yellen as Minister of Finance has taken a step closer.
On the morning of the 22nd (local time), the U.S. Senate Treasury Committee unanimously agreed to the appointment of Janet Yellen as Minister of Finance. Republican Senator Chuck Grassley said, “The Republicans are clearly willing to cooperate with the new Democratic administration. We hope that this case will clarify it.”
Other Republican senators also said they did not agree with Yellen’s policies, but still supported Yellen. The fact that Candidate Yellen’s support from both Democrats and Republicans seems to prove he deserves to be Minister of Finance.
On this day, a member of the Treasury Council hoped to vote for the entire Senate to appoint the candidate Yellen. But it wasn’t actually realized.
If Candidate Yellen passes the Treasury Secretary’s hearing, he will be a key member of President Biden’s administration and will serve as important presidential advice on economic issues and accounting policies. Upon final appointment, Yellen will become the first female Treasury Secretary in US history.
Candidate Yellen previously said at a Senate hearing that “we will take a big action in a coronavirus situation.” “Economists don’t always agree, but I think it’s now. Without further action, the risk will be longer and more painful. And it will hurt the entire US economy.”
Candidate Yellen was the first woman to serve as Fed Chairman in 2014-2018. As chairman, the candidate tried to normalize monetary policy. Later, the candidate’s attempts were reduced by Jerome Powell.
The cryptocurrency industry is also paying attention to the progress of the candidate Yellen. This is because Candidate Yellen has shown both support and opposition to digital assets. Candidate Yellen supported Bitcoin (BTC) and other digital assets as important innovations in global trading. By the way, the candidate also pointed out that cryptocurrency can be abused for money laundering and illegal financing.
On the last day of the Trump administration, then Treasury Secretary Steven Mnuhchin attempted to introduce new rules aimed at self-hosted cryptocurrency wallets, and his move caused serious anxiety in the cryptocurrency industry.
President Biden, wishing to say goodbye to the Trump era, has frozen many of the proposed executive orders since taking office. Regulations related to cryptocurrency wallets (proposed at the time of Manusin) are also one of the frozen administrative orders.
OCC, a subsidiary of the US Treasury Department: Allows the Federal Bank to use stable currency for settlement and issuance of stable currency
On January 5, the Office of the Comptroller of the Currency (OCC) issued an explanatory letter stating that the Commonwealth Bank and the Federal Reserve Association can use public blockchains and stablecoins for settlement.
Note: OCC is affiliated to the U.S. Department of the Treasury and is one of the five main regulatory agencies of the U.S. federal government. It is mainly responsible for issuing licenses and supervising federal banks.
OCC pointed out that as long as it complies with laws and good banking practices, “the Federal Bank or the Federal Reserve Association can verify, store, and record payment transactions by acting as nodes on the Independent Node Verification Network (INVN). Similarly, banks can use stablecoins to facilitate Customers verify payment transactions on the network at independent nodes, including the issuance of stable coins and the exchange of stable coins for legal tender.
The regulatory agency cited as an example that one entity (payer) may want to remit U.S. dollar payments to another entity (payee). The payer does not use a centralized payment system, but converts U.S. dollars into stable coins and transfers the stable coins to the payee through INVN. The recipient then converts the stable currency back to U.S. dollars. In a common use case in reality, payments are cross-border remittances. “
Decrypt pointed out that the OCC letter clearly shows that as financial intermediaries, banks face competition in accelerating capital flows. In OCC’s view, INVN, such as blockchain and other distributed ledger technologies, is an effective and rapid way to transfer funds.
In this regard, the stablecoin USDC issuer Circle Joint Creation Jeremy Allaire tweeted, “This is a huge victory for cryptocurrencies and stablecoins. Because according to the letter of explanation, banks can treat public chains as similar to SWIFT and ACH. It has the same financial infrastructure as FedWire and treats stablecoins (such as USDC) as electronic storage of value. This importance cannot be underestimated.”
“We are moving on the path of implementing all major economic activities on the chain. It is great to see the forward thinking support provided by the largest national banking regulator in the United States.”
WWW.BLOCKCAST.CC 