Future Fintech G Stock Price, News & Analysis

Future FinTech Group Inc. (NASDAQ: FTFT) announced on April 24, 2023, that it has regained compliance with NASDAQ listing requirements under Rule 5250(c)(1) after filing its Annual Report on Form 10-K for the fiscal year ended December 31, 2022. This follows a notification received on April 21, 2023, regarding a previous non-compliance due to late filing. The Company’s operations include blockchain technology and fintech services, such as an online shopping mall platform, financial services, and cryptocurrency initiatives. The compliance with NASDAQ rules closes the matter concerning its reporting obligations.

Future FinTech Group (NASDAQ: FTFT) announced it received a letter from Nasdaq stating it is not in compliance with Listing Rule 5250(c)(1) due to a delayed filing of its Annual Report on Form 10-K for 2022. The Company has 60 days, until June 20, 2023, to submit a compliance plan. If accepted, FTFT may be granted up to 180 days, until October 16, 2023, to regain compliance. The Company is working to file the 2022 10-K today. The notification does not immediately affect the listing status of FTFT on the Nasdaq Capital Market.

Future FinTech Group (NASDAQ: FTFT) announced the acquisition of Alpha Financial's wholly owned subsidiaries, Alpha International Securities (HK) and Alpha Information Service Shenzhen, for HK$15.66 million (approximately US$2 million). The announcement was made on March 1, 2023, following a prior Memorandum of Understanding signed in September 2022. Alpha HK specializes in online brokerage services, IPO underwriting, and US dollar-based bond issuance. The acquisition aims to enhance Future FinTech's offerings and align with its strategic goal of becoming a diversified fintech enterprise. The agreement stipulates payment terms contingent upon regulatory approval from the Hong Kong Securities and Futures Commission.

Future FinTech Group (NASDAQ: FTFT) announced that its wholly-owned subsidiary, FTFT Paraguay S.A., has successfully completed the first phase of its cryptocurrency mining farm in Mariano Roque Alonso, Paraguay. The farm, powered by hydroelectric energy, has a capacity of three megawatts and can house approximately 900 mining machines. The initial batch of Antminer S19 mining machines began operations after successful testing on December 30, 2022. FTFT plans to expand its operations with two additional mining farms of 15MW each, aiming for a total capacity of at least 30MW by 2023 and 100MW by 2025.

Future FinTech Group Inc. (NASDAQ: FTFT) has announced the successful deployment of its first Antminer S19 mining machines at its cryptocurrency mining farm in Ohio, marking the completion of the first construction phase. The farm aims to accommodate approximately 12,000 Antminers, generating about 1.3 EH/s of hash power. The electricity supply for the mining facility was established in July 2022 through an agreement with Champion Energy Services. FTFT plans to develop multiple mining farms globally to enhance operational capacity.