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Binance Launches $1 Billion Fund to Accelerate Blockchain Tech Adoption

FN Media Group Presents Microsmallcap.com Market Commentary

 

New York, NY – October 15, 2021 – Blockchain technology is becoming increasingly popular and thanks to a $1 billion growth fund being launched by the world’s largest crypto exchange, it’s about to get a lot bigger. Binance just announced the launch of a billion-dollar fund in support of the Binance Smart Chain blockchain to accelerate the adoption of digital assets and blockchain technology. At the same time, the total locked value in DeFi surpassed $200 billion, marking an impressive 855% increase since January 1, 2021, and revealing the market’s growing appetite for blockchain, crypto, and decentralized finance (DeFi). As the popularity of blockchain increases, innovative companies like WonderFi Technologies Inc. (NEO:WNDR) (OTCPK:WONDF), Bitfarms (NASDAQ:BITF) (TSXV:BITF), Bit Digital (NASDAQ:BTBT), Mobilum Technologies Inc. (CSE:MBLM) (OTCPK:MBLMF) and DMG Blockchain (TSX-V:DMGI) (OTCQB:DMGGF) are taking steps to position themselves as market leaders in the expanding blockchain and crypto space.

 

Users of the WonderFi App can now gain exposure to digital asset indexes thanks to a partnership between WonderFi Technologies Inc. (NEO:WNDR) (OTC:WONDF) and DeFi Pulse, a major stakeholder in Index Cooperative, a decentralized autonomous organization (DAO) that develops crypto and DeFi products, including the industry-leading DeFi Pulse Index. The index, which consists of top DeFi assets available on Ethereum, allows users to buy a single ERC-20 token that provides exposure to all ten assets.

 

The DeFi Pulse Index is an excellent way to gain exposure to the DeFi market and is analogous to index products in the traditional capital markets,” said Ben Samaroo, CEO of WonderFi.

 

WonderFi is also collaborating with Circle Internet Financial to offer customers the world’s fastest-growing stablecoin, USDC through the WonderFi App. With more than US$31.2B in circulation and $1.1 trillion transferred on-chain to date, USDC is a fast-growing digital currency, with WonderFi having adopted USDCs as a treasury management tool to optimize yield on unused working capital and cash reserves.

 

In a comment, Kevin O’Leary said, “Stablecoins like USDC are a key part of the growth of this industry, and it’s great to see industry leaders like Circle and WonderFi striving to provide better access.”

 

“There is a substantial global demand for USDC as it continues to be regarded as the most trusted and well-regulated stablecoin, and it is a great first point of entry for users that are new to crypto and DeFi across the world,” said Samaroo.

 

For more information on WonderFi Technologies Inc. (NEO:WNDR) (OTC:WONDF), click here.

 

Companies Expand Operations as Blockchain Adoption Increases

 

Last week, Mobilum Technologies Inc. (CSE:MBLM) (OTC:MBLMF) (FRA: COB) launched its crypto-to-fiat off-ramp product via gift cards, debit and credit cards. The company also announced that its wholly-owned subsidiary XPort Digital Limited signed an MOU with PhyloPay to integrate XPort’s fiat-to-crypto to support PhyloPay’s back-office solution. The announcement came days after Mobilum completed the integration of its hosted fiat-to-crypto on-ramp and beta off-ramp solution with the Polygon ecosystem to allow Polygon users to purchase cryptocurrencies without setting up a crypto exchange account. Mobilum also announced the launch of its proprietary high-frequency crypto trading engine and hired Piotr Majka as Chief Trading Officer to head the beta test launch.

 

Bitfarms (NASDAQ:BITF) (TSXV:BITF) signed EPC contracts and began the construction of a new production facility in Argentina. The new facility is expected to generate an additional 210 MW. The new facility will expect global mining production at a lower price, as the company expects to contract the infrastructure in 2022 at a rate of US 2.2 cents per kilowatt-hour. The new facility can accommodate more than 55,000 miners adding about 21,500 miners to Bitfarms’ online miners.

 

Bit Digital (NASDAQ:BTBT) announced agreements with Bitmain Technologies to buy 10,000 Antminers, which will increase its hash rate by more than 1.0 Exahash. The agreement comes shortly after Bit Digital announced the closing of the previously announced private placement with institutional investors, which generated approximately $80 million in gross proceeds.

 

DMG Blockchain Solutions Inc. (TSX-V:DMGI) (OTCQB:DMGGF) became the first company to join MaraPool. MaraPool is a US-based bitcoin mining pool created by Marathon Digital to provide members with industry-leading transparency and access to exclusive services from NYDIG. MaraPool is also focused on reducing the impact of Bitcoin mining on the environment and is fully audited by a third-party firm.

 

Companies like Kevin O’Leary-backed WonderFi Technologies are providing solutions to support the growing blockchain, crypto, and decentralized finance markets as they become mainstream.

 

DISCLAIMER: Microsmallcap.com (MSC) is the source of the Article and content set forth above.  References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

 

The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of WonderFi Technologies Inc.

 

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

 

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.

 

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Source: Microsmallcap.com

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