Metalpha Tech - MATH STOCK NEWS

On April 3, 2023, Metalpha Technology Holding Limited (NASDAQ: MATH) announced that it has regained compliance with the Nasdaq's minimum bid price requirement. Following a notice from Nasdaq on March 31, the company's ordinary shares maintained a closing bid price of at least $1.00 for 19 consecutive business days. This marks a significant turnaround from a previous notification on September 21, 2022, when the company was deemed not in compliance. Metalpha, founded in 2015, aims to lead in crypto wealth management services and remains committed to innovation and transparency in its operations.

Metalpha Technology Holding Limited (NASDAQ: MATH) reported its preliminary unaudited financial results for the first half of 2023. The company experienced a remarkable growth in trading revenue, which surged over 3,000% from approximately $122,000 in the second half of 2022 to about $3.9 million in the first half of 2023. Derivative product issuance also increased significantly, rising over 300% to around $198 million. The total revenue from continuing operations climbed to approximately $3.9 million, a 320% increase. The net loss decreased to approximately $4.9 million, a 30% reduction from the previous period.

Metalpha Technology Holding Limited (NASDAQ: MATH) announced a share repurchase program, enabling the company to buy back up to US$5 million worth of shares over the next 12 months. This decision follows its recent divestiture in mainland China. The company's executives believe this program will enhance shareholder value, especially as they view their stock as currently undervalued. Despite a challenging year for the industry, Metalpha has exhibited resilience and aims to attract more investors through this strategic move. The company's focus remains on providing high-quality cryptocurrency investment products.

Metalpha Technology Holding Ltd (NASDAQ: MATH) has announced a partnership with the Litecoin Foundation to develop the Litecoin ecosystem with a focus on risk hedging and reducing carbon emissions. The collaboration aims to create derivative products, enhance renewable energy use, and improve energy efficiency in the Litecoin network. Metalpha will leverage its expertise to support crypto miners with hedging solutions, contributing to sustainable blockchain innovation, and promoting public education about Litecoin. Both organizations seek to bolster awareness, adoption, and scalability of Litecoin through research initiatives.

Metalpha Technology Holding Limited (NASDAQ: MATH), formerly Dragon Victory International Limited, has restructured its operations with Antalpha Technologies Limited. This strategic move positions Metalpha as a wholly-owned subsidiary, focusing on digital asset wealth management.

Headquartered in Hong Kong, Metalpha aims to provide sophisticated financial products to institutional clients and high-net-worth individuals. The company boasts a talented team with extensive experience in derivatives from leading banks. Looking forward, Metalpha is committed to compliance, public education in blockchain, and enhancing its competitive edge in the digital asset market.