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DEFI TECHNOLOGIES INC - DEFTF STOCK NEWS

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DeFi Technologies Inc. (DEFTF) is a financial technology company at the forefront of merging traditional capital markets with decentralized finance (DeFi). The company recently engaged Liquid Advisors, Inc. to facilitate its cross-listing on a US securities exchange, demonstrating its commitment to growth and investor access. DeFi Technologies also launched DeFi Alpha, a specialized arbitrage trading desk that has already generated significant returns. The company further announced a Normal Course Issuer Bid to buy back common shares, signaling its confidence in its business value and prospects.

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DeFi Technologies' subsidiary Valour has launched its first asset-backed Ethereum Physical Staking ETP on the London Stock Exchange, targeting professional investors. The product, Valour Ethereum Physical Staking ETP (Ticker: 1VET, ISIN: GB00BRBMZ190), offers direct exposure to Ethereum with staking rewards potential. Key features include:

- Physically-backed, non-leveraged exposure to ETH
- Cold storage by regulated custodians
- 1.49% management fee
- Restricted to professional and institutional investors
- Enhanced security with slashing insurance and full collateralization

This launch follows the LSE's guidance on crypto ETPs and marks a significant step in bridging traditional finance with digital assets. The product is now available for trading on the LSE's 'Professional Investors Only' segments.

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DeFi Technologies Inc. (CBOE CA: DEFI) (GR: RB9) (OTC: DEFTF), a financial technology company focused on bridging traditional capital markets with decentralized finance (DeFi), has filed a Form 40-F Registration Statement with the SEC. This filing is part of the company's application to list its common shares on the Nasdaq Stock Market. The listing is subject to Nasdaq approval and meeting all regulatory requirements, including the Form 40-F becoming effective. DeFi Technologies will maintain its current listing on the Cboe Canada Exchange. This move signifies the company's intent to expand its presence in the U.S. financial markets and potentially increase its visibility among investors.

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DeFi Technologies subsidiary Reflexivity Research announces its inaugural Crypto Investor Day, scheduled for October 25th, 2024, in New York City. The event is expected to attract up to 1,000 industry leaders from both crypto and traditional finance sectors. Notable speakers include executives from VanEck, Tether, Ripple Labs, and Fidelity Digital Assets. The event will be moderated by Anthony Pompliano, Co-Founder of Reflexivity Research.

The Crypto Investor Day is supported by prominent sponsors such as Coinbase, Ledger, Grayscale, and Near. It aims to bridge the knowledge gap between traditional finance and the digital asset space, featuring fireside chats with industry leaders. This event builds on Reflexivity Research's successful Bitcoin Investor Day earlier in the year and complements the growth of its research business.

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DeFi Technologies (CBOE CA: DEFI, OTC: DEFTF) reports strong performance for its subsidiary Valour Inc. As of August 31, 2024, Valour's assets under management (AUM) reached C$661 million (US$487 million), marking a 30% increase this fiscal year. Despite declining asset prices, August saw record monthly net inflows of C$14.1 million (US$10.4 million), the highest in 2024.

Key products driving inflows include Valour Solana SEK, Valour BTC Zero SEK, and Valour ETH Zero SEK. The company maintains a strong financial position with a cash balance of C$26.2 million and diversified cryptocurrency holdings totaling C$33.9 million. A recent strategic development includes an MOU with the Nairobi Securities Exchange and SovFi to launch Valour ETPs in Africa.

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DeFi Technologies Inc. (CBOE CA: DEFI, OTC: DEFTF) has partnered with Professional Capital Management to enter the U.S. ETF market. This strategic alliance aims to capitalize on the rapidly expanding ETF space, which has surpassed $7.5 trillion in AUM and is growing at a 15% CAGR since 2010. The partnership combines DeFi Technologies' expertise in digital asset ETPs through its subsidiary Valour Inc. with Professional Capital Management's success in building profitable companies and media reach.

Led by Anthony Pompliano, Professional Capital Management brings experience in solving real-world problems and achieving capital growth. DeFi Technologies contributes its experience in creating innovative ETPs, including fee-free and yield-generating products. The joint venture aims to introduce innovative ETF products catering to the growing demand for active and alternative investment strategies in the U.S. market.

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DeFi Technologies Inc. (DEFTF) reported record-breaking Q2 2024 financial results:

  • Total Revenue: C$133.2M (US$98.0M) for Q2, C$128.2M (US$94.4M) for H1
  • Net Income: C$90.4M (US$66.5M) for Q2, C$72.3M (US$53.2M) for H1
  • Assets Under Management (AUM): C$730.1M (US$533.4M) as of June 30, 2024, up 43.7% since Dec 31, 2023
  • Cash balance: C$19.5M (US$14.2M) as of June 30, 2024

Key developments include multiple ETP launches by Valour, DeFi Alpha trading desk generating over C$111.5M in Q2, and strategic loan repayments. The company projects annualized revenues of approximately C$179M (US$131M) for fiscal 2024, supported by AUM growth and new acquisitions.

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DeFi Technologies Inc. (CBOE CA: DEFI, GR: R9B, OTC: DEFTF), a financial technology company bridging traditional capital markets with Web3 and decentralized finance, has announced a shareholder call scheduled for August 15, 2024, at 12:00 p.m. EST. The call will discuss the company's financial performance for Q2 2024, covering the three-month and six-month periods ending June 30, 2024. Shareholders are required to register in advance for the webinar through the provided Zoom link. This announcement highlights DeFi Technologies' commitment to transparency and investor communication, as it prepares to share insights into its financial results for the latest quarter.

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DeFi Technologies' subsidiary Valour Inc. has rebalanced its Valour Digital Asset Basket 10 (VDAB10) and the STOXX Bitcoin Suisse Index, effective August 1, 2024. The VDAB10 rebalancing saw Solana (SOL) increase from 9.85% to 12.13%. The top constituents remain Bitcoin (30%) and Ethereum (30%), followed by Binance Coin (12.30%) and Solana (12.13%).

In July, the VDAB10 SEK rose by 6.77% and the VDAB10 EUR by 4.53%. The STOXX Bitcoin Suisse Index rebalancing, effective June 21, 2024, now includes Solana with an 18.43% allocation. The index showed a 7.76% performance increase in July. These updates reflect Valour's commitment to offering transparent, rule-based ETPs that track the evolving digital asset market.

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DeFi Technologies' subsidiary, Valour, reported a 64% year-to-date increase in Assets Under Management (AUM), reaching C$837M (US$609M) as of July 31, 2024. This growth is driven by continuous monthly net inflows of C$9.3M (US$6.75M). The company maintains a strong financial position with a cash and USDT balance of approximately C$56.2M (US$40.9M) and loans payable of C$17.9M (US$13M), alongside significant cryptocurrency holdings including 204.34 BTC, 12,775 SOL tokens, and 1,484,148 CORE tokens totaling C$20.7M (US$15.1M).

Key developments include the appointment of Andrew Forson to the board, a strategic partnership with Zero Computing, and the launch of the world's first NEAR Protocol ETP. Furthermore, DeFi Technologies signed a letter of intent to acquire Stillman Digital to enhance trading capabilities and diversify revenue streams. Notably, DeFi Alpha, the arbitrage trading desk, generated an additional C$19.3M (US$14.1M) in Q3 2024.

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DeFi Technologies' subsidiary, Valour Inc., has signed a Memorandum of Understanding (MOU) with the Nairobi Securities Exchange (NSE) and SovFi Inc. to develop and launch digital asset exchange-traded products (ETPs) in Africa. This collaboration aims to enhance market infrastructure, attract investors, and increase trading volumes on the NSE. Kenya, a technological innovation hub with 85% smartphone penetration, is the largest cryptocurrency market in East Africa and among the top five on the continent.

The partnership leverages Valour's expertise in digital assets and SovFi's financial solutions to expand ETP offerings and market reach in Africa. Initially, ETPs may include those related to Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Hedera (HBAR). This strategic move is expected to strengthen NSE's position as a leading African financial hub and contribute to Kenya's economic growth by providing innovative investment opportunities.

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FAQ

What is the current stock price of DEFI TECHNOLOGIES (DEFTF)?

The current stock price of DEFI TECHNOLOGIES (DEFTF) is $2.03 as of October 4, 2024.

What is the market cap of DEFI TECHNOLOGIES (DEFTF)?

The market cap of DEFI TECHNOLOGIES (DEFTF) is approximately 667.6M.

What is DeFi Technologies Inc. known for?

DeFi Technologies Inc. is a financial technology company that leads the convergence of traditional capital markets with decentralized finance (DeFi).

What recent engagement did DeFi Technologies Inc. announce?

DeFi Technologies Inc. announced the engagement of Liquid Advisors, Inc. to facilitate the cross-listing of its common shares on a US securities exchange.

What is the DeFi Alpha trading desk launched by DeFi Technologies Inc.?

DeFi Alpha is a specialized arbitrage trading desk by DeFi Technologies Inc. that focuses on low-risk opportunities in the crypto ecosystem and has generated substantial returns.

Why did DeFi Technologies Inc. initiate a Normal Course Issuer Bid?

DeFi Technologies Inc. initiated a Normal Course Issuer Bid to buy back common shares because the management believes the market price may not reflect the company's underlying value, making it an appropriate use of cash.

What does the engagement with Liquid Advisors signify for DeFi Technologies Inc.?

The engagement with Liquid Advisors reflects DeFi Technologies Inc.'s strategic commitment to growth, investor access, and expanding its presence in the capital market.

What is the current cash balance of DeFi Technologies Inc.?

The current cash balance of DeFi Technologies Inc. is approximately C$69.9 million (US$51 million).

Who coordinates and facilitates purchases under the Normal Course Issuer Bid for DeFi Technologies Inc.?

Ventum Financial Corp. has been appointed by DeFi Technologies Inc. to coordinate and facilitate purchases under the Normal Course Issuer Bid.

What is the focus of Reflexivity Research LLC?

Reflexivity Research LLC specializes in creating high-quality, in-depth research reports for the bitcoin and digital asset industry, empowering investors with valuable insights.

Where can one find more information about Valour Inc.?

For more information on Valour Inc., subscriptions, and updates, visit valour.com.

How does DeFi Technologies Inc. aim to revolutionize the financial ecosystem?

DeFi Technologies Inc. aims to provide widespread investor access to the future of finance by merging traditional capital markets with decentralized finance (DeFi).

DEFI TECHNOLOGIES INC

OTC:DEFTF

DEFTF Rankings

DEFTF Stock Data

667.59M
275.30M
13.39%
0.03%
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