HAMBURG, Germany–(BUSINESS WIRE)–The NAGA Group AG (XETRA: N4G, ISIN: DE000A161NR7), operator of the neo-broker NAGA, the cryptocurrency platform NAGAX and the neo- banking app NAGA Pay, is publishing its preliminary HY1 2023 figures. NAGA is pleased to announce a successful first half year, with revenue of EUR 19.5 million and preliminary EBITDA of EUR 2.3 million for HY1 2023. This marks a significant improvement in performance, with a significant reduction in costs compared to HY1 2022. The company has achieved impressive growth, with 4.9 million trades and a trading volume of EUR 69 billion in the first semester of 2023. Additionally, the number of active traders has increased by 22% compared to the same period last year, and assets under custody have grown by 48%. Looking ahead, NAGA plans to expand internationally, further capitalizing on its success. As Sam Chaney, Chief Commercial Officer of NAGA, stated, “We are thrilled with our performance and future growth prospects. Our focus on cost reduction and improved core KPIs has positioned us well for continued success in the global market.” In HY1 2023, although NAGA significantly decreased its direct marketing expenditure, the impact on the number of new clients depositing for the first time with NAGA was much smaller, whilst the average deposit size from these new clients has nearly doubled compared to 2022, indicating an increased attraction of better-quality depositors. “2023 will be a steppingstone into the future for NAGA. We are extremely satisfied with the turnaround that occurred during the first half year of 2023 and this is confirmed by the preliminary results of the first six months of 2023. Our cost base has been significantly optimized leading to a positive EBITDA compared to last year. Both the teams and management, have and still are collectively striving with one common goal and that is to make NAGA profitable. Our costs are very much under control, and we are now running a much leaner operation. We have reassessed our strategy and have now shifted our attention to global growth, new acquisitions, and expansion of our license base which will make NAGA a strong brand and give a solid footprint in new markets. We are very proud of this joint effort and will overcome any obstacle that may head our way. Challenges will only make us stronger,” commented the CFO of NAGA, Christos Charalambous. With a solid client base in Europe, NAGA plans to expand their client footprint globally. NAGA’s neo-brokering solutions provide the perfect tools for clients of all levels to trade the financial markets. “Expanding our business globally is not just a goal; it’s a mindset. We believe that innovation knows no boundaries, and by embracing diverse markets, cultures, and perspectives, we can create a truly global ecosystem for our customers. Together, we will forge new alliances, seize exciting opportunities, and unlock the immense potential of the digital economy. Let’s redefine the way the world trades and invests, one step at a time,” further commented the CCO of NAGA. NAGA’s newly appointed Group CEO, Michael Milonas, has explained his vision for NAGA both in terms of brand positioning and growth as well as new strategic direction in his first letter addressed to the Group’s Investors, which can be found here: https://files.naga.com/Letter-from-our-Group-CEO-EN.pdf?lang=en (English version) https://files.naga.com/Letter-from-our-Group-CEO-DE.pdf?lang=de (German version) About NAGA NAGA is an innovative fintech company that seamlessly connects personal finance transactions and investments through its social proprietary trading platform. The company’s platform offers a range of products from stock trading, investments and cryptocurrencies to a physical VISA card. Additionally, the platform allows for exchanges with other traders, provides relevant information in the feed, and autocopy features for successful members’ trades. NAGA is a synergistic total solution that is easily accessible and inclusive. It provides an improved foundation to trade, invest, network, earn and pay. This applies to both fiat and crypto products. Language: English Company: The NAGA Group AG Hohe Bleichen 12 20354 Hamburg Germany E-mail: [email protected] Internet: www.naga.com ISIN: DE000A161NR7 WKN: A161NR Indices: Scale 30 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Munich, Stuttgart, Tradegate Exchange Contacts Benjamin Bilski Tel:+49 (0)40 5247 79153 Email: [email protected], [email protected]

STAMFORD, Conn.–(BUSINESS WIRE)–#battea–Reissuing release to remove About DART boilerplate. The release reads: BATTEA CLASS ACTION SERVICES ANNOUNCES THE SUCCESSFUL INTEGRATION OF ITS DIGITAL ASSET RECOVERY TECHNOLOGY (“DART”) TO HELP INSTITUTIONAL INVESTORS IN RECOVERING DAMAGES RELATED TO CRYPTOCURRENCY INVESTMENTS Battea Class Action Services, LLC, the global leading expert in providing turn-key class and collective action antitrust and securities litigation recovery services, international litigation research and monitoring to more than 1,000 institutional investors, banks and hedge funds, announces the completion and integration of its Digital Asset Recovery Technology (“DART”), to support its expert teams’ ability to successfully help institutional investors in recovering losses from digital asset investment related activities and settlements. Cryptocurrency class action settlements include blockchain or cryptocurrency companies that engaged in the sale or exchange of tokens (commonly Initial Coin Offerings), cryptocurrency mining, staking, bankruptcies, cryptocurrency derivatives, or that designed blockchain focused software. “Battea Class Action Services is excited to leverage our 20+ years of securities litigation and antitrust recovery expertise, and patented, proprietary technology, The Claims Engine®, to assist investors that were harmed by all forms of cryptocurrency fraud,” says Trent Calabretta, Senior Vice President, Business Development. Since 2018 there have been 65 securities class action filings related to cryptocurrencies, up over 100% from 11 in 2021 to 23 in 2022. The SEC has deemed over $115 billion of digital tokens as unregistered securities, an upward trend expected to continue as regulators expand their purview to flag offending companies for mishandling customer funds, misleading investors and regulators, breaking securities rules, and failing to register tokens as securities. With over $80,000,000 settlement dollars currently outstanding, DART presents an exceptional opportunity for damaged cryptocurrency investors to recoup money they are rightfully due as a result of their investment related activities. About Battea Battea Class Action Services is the global leader and expert in all stages of asserting and processing settlement claims in connection with securities, interest rate derivatives, antitrust, collective action filings, cryptocurrencies, and settlement distributions. The company has been a leader in the space for over 20 years, serving more than 1,000 institutions around the world, including many of the world’s biggest banks, hedge funds, and buy-side investors. The company’s deep understanding of market operations facilitates the process of identifying and computing claims losses at an expert, “full service” level, whether OTC or exchange-traded and across all instruments and execution platforms. For more information, visit https://battea.com. Contacts Media: Kevin Doyle Global Head of Marketing Battea Class Action Services +1-203-987-4949 [email protected]

—76% of financial institutions are experiencing enhanced regulatory scrutiny related to sanctions —36% consider their sanctions compliance budgets to be inadequate —88% identified sanctions risk assessments as one of their top investment areas CHICAGO–(BUSINESS WIRE)–Grant Thornton LLP, one of America’s largest audit, tax and advisory firms, has released its first-ever Global Sanctions Compliance survey. The survey canvassed decision makers at nearly 300 financial institutions around the world to understand how they are responding to Russia-related sanctions. Respondents included senior compliance professionals, senior management leaders and board members. According to the survey, 76% of financial institutions are experiencing enhanced regulatory scrutiny related to sanctions since early 2022. Further, these financial institutions said that their prior substantial investments in sanctions compliance are proving to be inadequate, largely due to the unprecedented number of Russia-related sanctions and the accompanying regulatory changes. Survey participants also reported that the cost of sanctions compliance has been increasing, with 57% of respondents noting a spend increase in response to the recently imposed global sanctions. More than 65% agreed that overall costs related to sanctions will continue to rise, and they expect to increase their compliance spending over the next 12 to 24 months. There are multiple factors driving up the costs of sanctions compliance, including the increasing complexity of different sanctions and diverging interpretations and level of enforcement of sanctions requirements. With higher spending on sanctions compliance trending up, not all budgets at financial institutions have kept pace. Globally, 36% of survey respondents said they consider their budgets to be inadequate or severely inadequate, with Asia-Pacific and Latin America exceeding the global average. “Governments are rolling out sanctions at an unprecedented pace and continuing to enact major legislative changes, often combining various financial crime concepts,” said Sven Stumbauer, a managing director at Grant Thornton LLP and the leader of the firm’s Anti-Money Laundering and Sanctions practice. “As a result, banks are trying to figure out the new rules, enact the right compliance measures and find the tools to do so, all while trying to protect their business. This, in turn, is increasing the pressure on boards and C-level executives.” A well-informed board of directors is crucial As financial institutions wrestle with intensifying sanctions, a well-informed and engaged board of directors has never been more crucial. Despite the importance of risk management, 30% of survey respondents indicated that they do not provide regular board training or briefings to board members. According to Stumbauer, boards that thoroughly understand legal and regulatory requirements are in the best position to provide thorough oversight and ultimately allocate sufficient funding for sanctions compliance programs. However, less than half (45%) of respondents said they conduct annual board trainings and briefings for their boards, leaving many institutions scrambling to stay compliant due to the fast pace of sanctions and regulatory changes. “Boards that receive more frequent trainings and briefings will enhance their ability to adapt strategy at a faster pace,” said Stumbauer. Mitigating the consequences of de-risking According to the survey, 79% of respondents utilized a de-risking strategy to manage their sanctions exposure. When institutions were asked in which area they planned to increase their investment the most, there was a tie between “adequate risk assessment and quantification” and the need to “assess sanctions risk in more agile ways.” De-risking typically involves eliminating or restricting business relationships to avoid and manage risk, but this strategy does not come without consequences. In fact, the survey reported that 60% of respondents either limited or terminated business relationships as a result of their de-risking actions. In conducting the survey, Stumbauer and his team also found that some institutions are using different counterparts — often away from traditional “trade routes” — and are effectively forum shopping for the lowest customer due diligence requirements. As a result, institutions have created nested relationships that often lead to increased risks of money laundering and sanctions breaches. “There is no more ‘business as usual,’ but there’s a way to grow your business while monitoring risk,” Stumbauer added. “Now is the time to invest in a thorough risk and compliance program that accounts for the many levels of complexity we’re seeing in the current sanctions landscape.” De-risking is not a new phenomenon, but Russia-related sanctions have amplified this trend. In fact, more than 88% of respondents identified sanctions risk assessments as one of their top six investment areas in 2022 and beyond. To see additional findings from Grant Thornton’s 2023 Global Sanctions Compliance survey, visit https://www.grantthornton.com/services/advisory-services/anti-money-laundering-advisory-services/sanctions-survey-report-2023. About Grant Thornton LLP Grant Thornton LLP (Grant Thornton) is one of America’s largest audit, tax and advisory firms — and the U.S. member firm of the Grant Thornton International Ltd global network. We go beyond the expected to make business more personal and build trust into every result. With revenues of $2.3 billion for the fiscal year that ended July 31, 2022, and almost 50 offices nationwide, Grant Thornton is a community of more than 9,000 problem solvers who value relationships and are ready to help organizations of all sizes and industries create more confident futures. Because, for us, how we serve matters as much as what we do. “Grant Thornton” refers to Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. Services are delivered by the member firms. GTIL and its member firms are not agents of, and do not obligate, one another and are not liable for one another’s acts or omissions. Contacts Gina Mazzone T +1 312 602 9096 E [email protected] S twitter.com/grantthorntonus linked.in/grantthorntonus

SHIB burn has surged to 3800% on the crypto market. The current trading volume has dropped by 27.67%. The memecoin cryptocurrency named Shiba Inu (SHIB) has made a jaw-dropping realization on the crypto market. Compared to the previous years, the burn rate has soared to 3800% with the plot of creating a demand being the reason. SHIB’s Transaction and Burn Comparatively, the SHIB transaction results have shown the results of expanding whales in the industry. In recent times, the whale has been spotted transacting 6.36T SHIB tokens from the stats of IntoTheBlock over a week back. Thereby, the price of Shiba Inu kept surging at the time exhibiting the highest transaction volume. Yet, the burn rate was oscillating with a peak and drop. Somehow predominantly, the CoinMarketCap graph exceeds with a green graph. This points to a bullish state with an increase of 13.13% over the month. Price Details Currently, the SHIB is getting traded at $0.000007515 with a fall of 0.32% over a volume of $82M which gets a drop of 27.67%. The market capitalization is sustained at $4,430,067,415 in the current circulation supply of around 589 trillion. SHIB 24Hr Price Chart (Source: CoinMarketCap) Moreover, the upcoming Shibarium official launch is expected to be launched sooner. And, the effective rumor has stunned the crypto town with the update in which the Shiba Inu price surged a bit higher than the last day. Highlighting Crypto News Today: Shiba Inu (SHIB) Burn Rate Soars 3800%; Here’s What You Need to Know!

Open source artificial intelligence platform will unlock machine learning in smart contracts and web3 protocols within DeFi, Gaming, and Security NEW YORK–(BUSINESS WIRE)–#3M—Giza, an artificial intelligence (AI) platform for smart contracts and web3 protocols, today announced a $3 million pre-seed round led by CoinFund, a leading cryptonative investment firm and registered investment adviser, with participation from Arrington Capital, StarkWare and TA Ventures, along with prominent angels like Rand Hindi and Julien Bouteloup, among others. Funding will go towards the launch of Giza’s platform, which will support web3 and AI developers to integrate machine learning into smart contracts and decentralized protocols. Current web3 infrastructure, such as smart contracts, are fundamentally static and disconnected from real world context, exposing web3 users to various inefficiencies, UX hurdles and vulnerabilities. By providing trustless inference access to web3 applications, ML models served on Giza’s platform will provide smart contracts with the ability to classify, contextualise and adapt. “Smart contracts are not as smart as their name would suggest,” said Francisco Algaba, CEO of Giza. “They lack the capabilities and ease of use of many web2 applications because, until now, smart contracts cannot trustlessly integrate machine learning. Giza is on a mission to unlock the capabilities of machine learning for web3 smart contracts and protocols leveraging collective and open development. The successful integration of AI into web3 will not only expand the capabilities of smart contracts but will also enable the possibility of new models of ownership for AI.” Currently, smart contracts can’t trustlessly operate on off-chain data without relying on oracles, reducing their ability to leverage machine learning. Giza changes this by using zero-knowledge cryptography to bring model inferencing on-chain, unlocking a new depth for smart contract design. This new design space has significant implications across web3 verticals. ML-integrated smart contracts will perform significantly better for usability in web3 with use cases such as biometric access and account recovery; in DeFi, protocols can enhance their risk assessment mechanisms, leading to a more resilient open finance infrastructure. Giza can also shift the paradigm in web3 gaming with on-chain autonomous agents, difficulty adjustment and asset interoperability mechanisms. “We are thrilled to support Giza’s efforts to be one of the first projects that make AI models available to smart contracts and dramatically expand their design space” said Einar Braathen, Investor, CoinFund. “Fran, Cem, and Renç are an exceptional and truly web3 native team, with what we consider a unique blend of AI, web3 and operational experience. This shines through in their incredible vision and their lightning fast execution and time to market.” Contacts Orlagh Lyons [email protected]

While the Bitcoin price is currently stuck in a sideways trend, a few altcoins on the crypto market are currently showing a strong momentum. These three altcoins are currently attracting the attention of investors and traders alike: Shiba Inu (SHIB), Solana (SOL), and Polygon (MATIC). Let’s dive into the technical chart analysis of these altcoins and examine the potential price moves that could unfold this week. Shiba Inu (SHIB) – A Make-or-Break Moment SHIB finds itself at a critical juncture, where the next move could determine its trajectory for the rest of the year. After experiencing a remarkable rally earlier this year, SHIB entered a descending trend channel at the beginning of February, dragging its price below the yearly opening level. However, a breakthrough from this channel occurred over the weekend, signaling a potential reversal. As the SHIB bulls attempt to validate this breakout, their success could propel the price upwards by 30%, as NewsBTC reported yesterday. This would bring SHIB towards the resistance area between $0.00000969 (200-day EMA) and $0.00000977 (38.2% Fibonacci), with a significant psychological milestone of $0.00001 within reach. Nonetheless, a confirmation of the breakout is still pending. While the Shiba Inu price managed to stay above the trend channel yesterday, the bulls are still hesitant to make an impulsive move higher towards the 23.6% Fibonacci level at $0.00000834. A breakout above this can be seen as confirmation of a trend change. Solana (SOL) – Rising Against The Crypto Odds Solana (SOL) made a splash in the crypto market last week, recording an impressive 39% price increase over the last 12 days. This surge propelled SOL to the critical resistance level represented by the 200-day exponential moving average (EMA). Breaking through this level has been a persistent challenge for SOL since April 2022, but recent developments offer hope for a potential breakthrough. At press time, the SOL price overcame the 200-EMA at $21.98, trading at 22.07. A daily close above this price level would be massively bullish. SOL’s rally is particularly noteworthy, considering the setbacks it faced due to the FTX drama and the SEC’s classification of it as a security. Should the 200-day EMA be breached, the 50% Fibonacci retracement level and the yearly high at $27.00 could serve as the next targets for an extended rally, which could give investors another 22% profit, as detailed in our last analysis. Polygon (MATIC) – New Momentum Recent developments have sparked interest and potential opportunities for investors. The announcement of former Chief Legal Officer Marc Boiron as the new CEO has generated positive sentiment within the community. On-chain data indicates a significant spike in social volume following the news, suggesting increased attention and potential bullish sentiment for MATIC’s price. From a technical standpoint, MATIC has seen a 40% increase since its local bottom in June. The price currently sits below the 23.6% Fibonacci retracement level, and a breakout above this level could potentially drive MATIC towards the 200-day EMA and the 38.2% Fibonacci retracement level, offering a 22% rally. However, breaking the resistance at the first Fibonacci level at $0.756 is a crucial step to watch for potential upward momentum. Please note: The analysis and observations in this article should not be considered financial advice. Cryptocurrency investments carry inherent risks, and readers are urged to conduct thorough research before making any investment decisions.

STAMFORD, Conn.–(BUSINESS WIRE)–#battea—Battea Class Action Services, LLC, the global leading expert in providing turn-key class and collective action antitrust and securities litigation recovery services, international litigation research and monitoring to more than 1,000 institutional investors, banks and hedge funds, announces the completion and integration of its Digital Asset Recovery Technology (“DART”), to support its expert teams’ ability to successfully help institutional investors in recovering losses from digital asset investment related activities and settlements. Cryptocurrency class action settlements include blockchain or cryptocurrency companies that engaged in the sale or exchange of tokens (commonly Initial Coin Offerings), cryptocurrency mining, staking, bankruptcies, cryptocurrency derivatives, or that designed blockchain focused software. “Battea Class Action Services is excited to leverage our 20+ years of securities litigation and antitrust recovery expertise, and patented, proprietary technology, The Claims Engine®, to assist investors that were harmed by all forms of cryptocurrency fraud,” says Trent Calabretta, Senior Vice President, Business Development. Since 2018 there have been 65 securities class action filings related to cryptocurrencies, up over 100% from 11 in 2021 to 23 in 2022. The SEC has deemed over $115 billion of digital tokens as unregistered securities, an upward trend expected to continue as regulators expand their purview to flag offending companies for mishandling customer funds, misleading investors and regulators, breaking securities rules, and failing to register tokens as securities. With over $80,000,000 settlement dollars currently outstanding, DART presents an exceptional opportunity for damaged cryptocurrency investors to recoup money they are rightfully due as a result of their investment related activities. About Battea Battea Class Action Services is the global leader and expert in all stages of asserting and processing settlement claims in connection with securities, interest rate derivatives, antitrust, collective action filings, cryptocurrencies, and settlement distributions. The company has been a leader in the space for over 20 years, serving more than 1,000 institutions around the world, including many of the world’s biggest banks, hedge funds, and buy-side investors. The company’s deep understanding of market operations facilitates the process of identifying and computing claims losses at an expert, “full service” level, whether OTC or exchange-traded and across all instruments and execution platforms. For more information, visit https://battea.com. About DART DART is a combined lien and eNote registry system developed by Figure Technologies, Inc using blockchain technology. Lenders using DART can turn their loans into unique digital assets on the Provenance Blockchain. This process facilitates immediate and automated asset onboarding, real-time settlement of loan pledges and sales and use of the integrated registration system that can automatically reflect transfers of loan interests. For more information, please visit www.DARTinc.io. Contacts Media: Kevin Doyle Global Head of Marketing Battea Class Action Services +1-203-987-4949 [email protected]

Axelar’s blockchain data integration and interoperability solutions will be available to Microsoft customers via the Azure Marketplace while Microsoft and Axelar collaborate on AI and hybrid blockchain initiatives. NEW YORK–(BUSINESS WIRE)–$AXL #AI–Axelar and Microsoft are partnering to further advance the adoption of blockchain technologies by building a data integration and interoperability layer that will deliver easier blockchain onramps for everyone, from enterprises to Web3 startups. By connecting isolated networks and simplifying complex integrations, the collaboration aims to unlock growth and innovation opportunities for developers and businesses. The current market offers limited options for developers and organizations who want to enable one-click user interoperability spanning multiple blockchain ecosystems. Combining Axelar’s secure cross-chain communication network with the global reach and scale of Microsoft Azure, the partnership plans to unlock seamless Web3 developer and user experiences. Specifically, Microsoft Azure Marketplace customers will have access to the following: An end-to-end blockchain interoperability solution that is programmable and secure. Services and developer tools via AxelarJS SDK to automate multichain deployments for interchain-native Web3 applications. Axelar General Message Passing (GMP), enabling developers to integrate functionality and network effects, independent of blockchains or databases that host them. “We are excited to collaborate with Axelar to accelerate blockchain integration and deliver valuable solutions to our customers,” said Daniel An, director of business development, Microsoft Web3 & AI. “By leveraging our strengths and expertise, we can empower organizations to embrace blockchain technology and transform their operations.” Axelar and Microsoft have also agreed to explore innovative solutions that will further advance the maturity of the Web3 industry, such as seamlessly connecting private with public blockchains and leveraging Azure OpenAI services to create entirely new experiences in Web3. “Axelar’s mission is to make the innovation on leading blockchains accessible and effortless to deploy for a new generation of interchain-native Web3 apps,” said Axelar co-founder Sergey Gorbunov. “The shared vision inspired us to partner with Microsoft to provide an extensible interoperability layer for the Azure community, from fast-growing Web3 startups to global enterprises. With Microsoft, we are now also able to explore the possibility for other new frontiers in Web3, such as blockchain-enabled Open AI services and the integration of AI in future Web3 applications.” Read more about Axelar partnerships on Axelar’s blog. About Axelar: Axelar is the full-stack interoperability layer for Web3. The network enables blockchain as a new application development platform, by integrating ecosystems of innovation into a seamless “Internet of blockchains.” Axelar is programmable and decentralized, secured by a proof-of-stake token, AXL. Application users unlock and access digital assets on any blockchain, with one click. Developers work with a simple API and access an open market of tooling to automate complex tasks. You can think of it as Stripe for Web3. More about Axelar: axelar.network. Contacts For media inquiries, please contact: Karla Vilhelem MarketWaves PR [email protected] 754-215-4315

Bitgert experienced a significant surge in the burn rate. The recent developments have directly impacted the trading price. The world of the crypto market has experienced significant growth with exciting developments over the last few years. Recently, the cryptocurrency Bitgert (BRISE) caught the attention of the crypto market with a surprising move. BRISE has experienced a massive amount of burn in the last 24 hours. Burn BRISE, the Bitgert coin tracker, reported that there were 3,931,598 tokens, which are worth $0.91, burned from the total supply in the past hour. This recent burn resulted in the 24-hour burn reaching a massive amount of 168,388,302, worth over $39.47. The significant increase in the burn rate caught the attention of crypto enthusiasts. In recent days, Bitgert has continuously burned a massive amount of tokens. The significant burn in BRISE has resulted in the total burn rate of BRISE reaching 59.45%, according to Burn BRISE. At the time of writing, the total circulating supply is around 405,413,119,524,340, which is 40.54% of the total supply. Bitgert Project Reaches Significant Milestone On June 10, Bitgert revealed their weekly report, announcing that the project turned two years old on July 7. The report stated that the project is growing stronger by the day and that the team will not stop building until it reaches its goal. According to the report, Bitgert has made five partnerships and strategic investments in the last week. Moreover, volatility had retained its hold for every other altcoin and BRISE. The recent development and the increased burn rate have directly impacted the trading price of BRISE. The recent surge may be an indication of an upcoming bullish run. At the time of writing, the trading price of the Bitgert is around $0.0000002289, with an increase of over 2.96% in the last 24 hours. The trading volume of BRISE has experienced a surge of over 4.99%, according to CoinMarketCap.

Paxful, founded in 2015, has established itself as one of the world’s prominent peer-to-peer Bitcoin marketplaces, with a strong mission to enable financial access for individuals globally. Boasting an extensive user base of 9 million and offering over 350 payment options, the platform has garnered substantial popularity. However, on July 7, Ray Youssef, the former CEO of Paxful, conveyed a message to the platform’s users, urging them to cease trading activities. Financial Instability And Comparisons To FTX Collapse Youssef expressed concerns about the current state of Paxful, claiming that the company is now solely focused on paying legal bills and cautioned that no African or non-American should trust any IS corporation. These warnings from Youssef were prompted by reports that Paxful had removed the reserve funds amount from the platform’s status page. Related Reading: Paxful CEO Says He Has ‘Lost’ 5 Bank Accounts Reserve funds are often savings accounts or highly liquid assets placed aside to cover unforeseen financial responsibilities, and Youssef believes that Paxful’s lack of reserves puts the company at risk of financial instability. Without these funds, Paxful may struggle to manage cash flow fluctuations, fulfill immediate financial obligations, or respond effectively to emergencies. Consequently, this situation has the potential to jeopardize Paxful’s survival. Youssef also concurred with a Twitter user who compared Paxful and the collapse of FTX. The user highlighted that FTX, despite being one of the world’s largest cryptocurrency exchanges at the time, had filed for bankruptcy. This collapse was triggered by Changpeng Zhao, the CEO of Binance, announcing that his exchange would be dumping its FTT Token holdings, amounting to around $2 billion. The bank run that followed this announcement opened up a web of lies and mismanagement that led to the eventual collapse of the exchange. The announcement caused a sharp decline in the price of FTT and generated concern among investors. As a result, traders hurriedly withdrew their funds from FTX, leading the company to confront a substantial $8 billion shortfall. To prevent a similar case like FTX bankruptcy, Youssef advised Paxful users to withdraw their funds until further investigation is conducted to uncover the truth behind the situation. Related Reading: FTX Puts Sale Of $500 Million Stake In AI Firm Anthropic On Hold Youssef’s Concerns And Allegations Post-Departure From Paxful Trading on various P2P marketplaces, including Paxful, was temporarily suspended in early April due to regulatory reasons. When Paxful announced the resumption of services, Ray Youssef, who had already left the organization, expressed his uncertainty regarding the current state of affairs and emphasized his inability to vouch for anything happening within Paxful. Since he departed from the exchange, Youssef has been actively promoting Civkit, the platform he founded. While many of his followers have praised his efforts, accusations have labeled him an attention seeker. Additionally, some individuals have accused him of leveraging his influence to undermine competitors and rivals in the industry.

The Layer 2 crypto projects hold stronger communities and users. Shibarium gaining popularity with its effective crypto community. On the global crypto market, there are several Ethereum Layer 2 (L2) Crypto Projects kept in the process. Some of them include Polygon (MATIC), Shibarium (SHIB), and Arbitrum (ARB). Get dive in with the most popular Layer 2 projects among the communities in the crypto market Polygon Polygon (MATIC), one of the Ethereum Layer 2 scaling solutions that have kept building the developing networks for interface stability and adaptability. Thereby the crypto communities focussed on the assurance provided with security, and interoperability on the network. Shibarium Shibarium (SHIB), the forthcoming Layer 2 just like Polygon based on Ethereum, gained popularity before its launch. This project has an efficient background of success in the meantime in which the solutions are turning out extraordinary. Arbitrum Arbitrum (ARB), the most recently launched token doesn’t include its native token so the investment in Layer 2 depends on optimistic rollups. Meanwhile, Arbitrum focuses on the congestion resolution on Ethereum through 40K transactions per second (TPS) costing about two cents or less in fees. Comparison of Various L2 Projects The most popular Polygon which has low gas fees and throughput over the higher transactions, is for the developers and investors on the platform. The compatibility of ARB in which the uniqueness of learning the developers for the programming language. The Shibarium Layer 2 layer increases the expansion of the ecosystem though the launch hasn’t happened yet. Concurrently, the Shibarium official launch date hasn’t been released. Crypto enthusiasts have effective transaction speeds with an abrupt increase and decrease in the result of gas prices. Disclaimer: The opinions expressed in this article are solely those of the writer and not of this platform. The data in the article is based on reports that we do not warrant, endorse, or assume liability for. Related Crypto News: Graph Goes L2: Arbitrum Integration Supercharges Scalability

The Bitcoin ETF has the potential to be a turning point for traditional institutions. Jay Clayton stated that it is remarkable for the crypto market. Jay Clayton, former Chairman of the U.S. Securities and Exchange Commission, shared his thoughts on the major traditional financial institutions’ Bitcoin ETF requests. He stated that the spot Bitcoin ETF should be approved. Moreover, he mentioned the crypto market’s significant growth and benefits from the Bitcoin ETF. The crypto market continues to experience remarkable growth and has captured the attention of investors and traders. Traditional banks applied to the SEC to provide Bitcoin ETFs in response to the significant development of the crypto market. Blackrock, Fidelity, Invesco, and several other institutional players have filed spot Bitcoin Exchange Traded Funds (ETF). Jay Clayton’s Perspectives on Bitcoin ETF In a recent interview, Jay Clayton stated that it is remarkable for the crypto market that big institutions like Blackrock want to put their reputation behind Bitcoin. He also said that the BTC ETF approvals are hard to resist. Moreover, the BTC ETF has the potential to be the turning point for traditional institutions with its significant development. Traditional Financial Institutions Filed For Bitcoin ETF The traditional institutions have surprised the whole crypto market with the continuous filing of Bitcoin ETFs. Following Blackrock’s request, several firms have continuously shown interest in the BTC ETF. While the institutions are waiting to get approved by the SEC, the former SEC chair’s statement got the attention of the crypto community. He believes spot products are less drag and more efficient for investors, and these institutions know the market better than anybody else. Clayton also noted that the approvals would need the regularity safeguards that depend on the recent establishment by the SEC. And also, the SEC regulations are thorough. With continuous filing, traditional banks signaled their interest in crypto and the turnover of traditional financial institutions. However, approval depends on the SEC’s decision. Recently, the SEC rejected the BTC ETF filing, saying that the filings were not sufficiently clear and comprehensive. After the SEC comments, the institutions updated and refiled their filings. The firms and the whole crypto community are waiting to see who will be the first to launch the spot BTC ETF.

Standard Chartered, one of the world’s leading banks, has raised its long-term Bitcoin price forecast, predicting that the value of the flagship cryptocurrency could reach $120,000 by the end of 2024. This upward revision comes as the bank acknowledges the potential for miners to hold a larger share of the newly minted Bitcoin supply. With the recent surge in Bitcoin’s price, Standard Chartered sees an opportunity for miners to reduce their selling activities, which could have implications for the cryptocurrency’s scarcity and future value. Miners’ Role In Bitcoin Value Proposition Miners hold a significant position within the crypto ecosystem, as they are responsible for the creation and upkeep of the network. And Standard Chartered’s forecast of Bitcoin reaching $120,000 by the end of 2024 is rooted in the notion that miners may adapt their selling practices to cover operational expenses, particularly the costs of electricity required for mining activities. Related Reading: Standard Chartered Predicts Bitcoin Could Reach $100,000 By End of 2024 By reducing the portion of newly generated Bitcoins they sell, miners can balance their cash inflows while simultaneously decreasing the overall supply of Bitcoin available in the market. This adjustment in selling behavior has the potential to impact the supply-demand dynamics of Bitcoin and potentially contribute to a surge in its value. The rationale behind Standard Chartered’s prediction lies in the assumption that miners, who currently produce approximately 900 new BTC daily on a global scale, will opt to hold onto a larger portion of their newly minted coins. By doing so, they can cover their operational costs more efficiently. If this adjustment occurs and the proportion of BTC sold by miners decreases, it could lead to a reduction in the net supply of Bitcoin by roughly 250,000 BTC per year. Such a decrease in supply has the potential to exert upward pressure on the value of Bitcoin as demand potentially outpaces the available coins in circulation. Factors Driving Standard Chartered’s Optimism Standard Chartered’s revised forecast is underpinned by the expectation that increased profitability for miners per Bitcoin mined will encourage them to hold onto a larger portion of their newly minted supply. Geoff Kendrick, a top FX analyst at the bank, suggests that as Bitcoin’s price approaches the $50,000 threshold, miners may reduce the proportion of BTC they sell from 100% to approximately 20-30%. This reduction in daily supply, from 900 BTC to a range of 180-270, would equate to a significant reduction in net BTC supply of roughly 250,000 BTC per year. Furthermore, Kendrick points to an upcoming event that will halve the number of BTC that can be mined each day, which is an intrinsic feature of Bitcoin’s design. This mechanism, known as the “halving,” gradually limits the supply of new BTC to maintain scarcity and mitigate inflation. By combining the potential reduction in miner selling with the forthcoming halving, Standard Chartered anticipates an environment conducive to a sustained increase in Bitcoin’s price over the long term. Meanwhile, over the past day, Bitcoin has traded below the $31,000 level particularly, with a market price of $30,441, at the time of writing. Nevertheless, the asset is seeing 1% gains in the last 24 hours with a 24-hour trading volume of $10.6 billion. Featured image from Unsplash, Chart from TradingView

LAS VEGAS–(BUSINESS WIRE)–$AGREE #AGREE—Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company, (“Ault Alliance” or the “Company”), announced today that it plans to explore a pathway that will allow it to issue a special dividend payable in Bitcoin to stockholders. The Company intends to collaborate with regulatory authorities, its transfer agent and others, which may include a trusted custodian, to determine what is required in order to pay a special dividend in Bitcoin. The planned dividend would be paid from Bitcoin generated by the Company’s wholly owned subsidiary, BitNile, Inc. (“BNI”). As previously announced, BNI issued an unaudited update on its Bitcoin mining operations reporting BNI’s mining operations is currently operating at an operational hash rate of 2.1 exahashes per second with approximately 9,000 of its Bitcoin miners at its Michigan data center and 10,000 Bitcoin miners that are being hosted through its strategic collaboration with Core Scientific, Inc. The annualized gross value of Bitcoin currently being mined utilizing BNI’s miners is more than $55 million, or approximately 1,800 Bitcoin, based on current market conditions, including a current trading price of Bitcoin at $30,400 and a mining difficulty of 50.65 trillion. Ault Alliance remains dedicated to its core mission of driving innovation and delivering exceptional value to its stockholders. With the increasing popularity and adoption of cryptocurrencies, Ault Alliance recognizes the potential of Bitcoin as a valuable asset for its stockholders. The idea of potentially issuing a Bitcoin dividend is aimed at providing a forward-thinking approach to stockholder value enhancement. By leveraging its Bitcoin mining operations, Ault Alliance seeks to provide an alternative investment opportunity and potential long-term value appreciation for its stockholders. Ault Alliance is also exploring ways to facilitate the effectuation of its conceptual design for stockholders who may not be familiar or comfortable with receiving a dividend in Bitcoin itself. Ault Alliance would, with the intention of addressing the preferences of all of its stockholders, accomplish this objective by offering its stockholders as of the ex-dividend date a choice of receiving actual Bitcoin or a cash payment equal to the dollar value of the Bitcoin as of such ex-dividend date. “By exploring a possible Bitcoin dividend, we aim to stay at the forefront of technological advancements and provide additional value to our stockholders,” said Milton “Todd” Ault III, Founder and Executive Chairman of Ault Alliance. “We believe that cryptocurrencies, especially Bitcoin, hold tremendous potential for the future, and we want our stockholders to benefit from this exciting opportunity.” In order to ensure compliance with regulatory requirements and promote transparency, Ault Alliance will be working closely with relevant regulatory authorities throughout the process. The Company is committed to adhering to the highest standards of corporate governance and regulatory compliance in all its operations. At this time, the Company has not declared a dividend and there can be no assurances that it will declare a dividend payable in Bitcoin or a Bitcoin-denominated cash payment, if at all. The Company has not yet determined what procedures would be required to permit stockholders to receive a dividend in Bitcoin, and even if the Company is able to pay a special dividend in Bitcoin, there are no guarantees that all stockholders will be permitted by their local governmental bodies to receive the dividend in Bitcoin. Ault Alliance notes that all estimates and other projections are subject to the volatility in Bitcoin market price, the fluctuation in the mining difficulty level, the ability to build out and provide the necessary power for miners, and other factors that may impact the results of Bitcoin mining production or operations. For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at https://www.ault.com/ or available at https://www.sec.gov/. About Ault Alliance, Inc. Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.ault.com. Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10‑Q and 8-K. All filings are available at https://www.sec.gov/ and on the Company’s website at https://www.ault.com/. Contacts [email protected] or 1-888-753-2235

Karim Hijazi is a serial entrepreneur, a former US intelligence community contractor and the former director of intelligence for Mandiant. He will oversee the firm’s expanded focus on emerging technology platforms and evolving risks. TAMPA, Fla.–(BUSINESS WIRE)–SCP&CO, a private investment and fund management firm focused on emerging technology platforms, today announced the appointment of cybersecurity industry veteran and renowned cyber intelligence expert Karim Hijazi to Managing Director and General Partner. Hijazi joins the firm after a long track record as a successful cybersecurity senior executive and entrepreneur, where he founded several groundbreaking startups in the field of cyber threat intelligence. As SCP&CO’s new Managing Director, he will support the firm’s expanded focus on emerging technologies and platforms, particularly focusing on the opportunities associated with the evolution from Web2 to Web3 and cybersecurity, with a strong emphasis on new authenticity technologies to counter the growing uncertainties, risks and disruptive potential posed by rapidly evolving capabilities such as artificial intelligence (AI). Hijazi will work closely with the firm’s Fund Managing Director, Chris Pizzo, in creating a new investment strategy centered around these technologies. “Karim is one of the world’s leading authorities on cyber risk and threat intelligence, and we’re thrilled to have him join our leadership team. He will play a key role in developing our investment strategy for the emerging field of authenticity technologies, which will be increasingly vital for businesses and consumers amid the massive changes now underway in AI, cybersecurity and Web3,” said Chris Rivera, president of SCP&CO. “Our executive team has over 100 years of combined experience in technology investing, since the initial dot-com era, and we are looking ahead to how these developing technologies will dramatically transform the world around us.” “It is an honor to join SCP&CO, which has been an active investor in the technology industry for over 20 years. While many investors have been overly bullish on the upside potential of the benevolent use of these new technologies, SCP&CO is well aware of the growing risks, particularly with the intersection of AI and cybersecurity, which could have many dangerous implications for businesses, governments and society at large,” said Hijazi. “Ensuring the integrity and ethics of these technologies, and developing effective countermeasures for their worst abuses, will be a daunting challenge for our society – and a major focus for the firm moving forward.” Hijazi is a 25-year veteran of the cyber intelligence and counterintelligence industries, and previously served as a contractor for the US intelligence community, cyber threat analyst to the global oil-and-gas industry, and as director of intelligence for Mandiant. He also founded multiple cybersecurity startups which pioneered new tactics in the cyber intelligence field, including early-stage breach detection, adversary infrastructure monitoring and botnet infiltration and seizure. During his tenure at Mandiant, Hijazi played a key role in the influential APT1 report released in 2013, which conclusively linked the People’s Liberation Army of China to widespread cyber espionage activity against US interests. He has also appeared many times on national TV as a cybersecurity analyst, including CNBC, Fox Business, Bloomberg, CNN, and more. A widely recognized expert on emerging cyber threats, Hijazi will be a keynote speaker at the prestigious MENA Information Security Conference in Riyadh, Saudi Arabia this September. He also recently spoke at the Cybershield Summit in Riyadh, where he lectured international business leaders on advanced threats posed by AI and ML. Over the last 20 years, SCP&CO has completed more than 100 transactions, totaling $2.2 billion of aggregate transaction volume. This includes over $255 million of principal and advisory transactions in the technology industry alone. ABOUT SCP&CO SCP&CO is a private investment and fund management firm focused on emerging technology platforms, innovation and value investments. The firm leverages direct investing and managed funds to invest in businesses where it can provide strategic and operational impact to accelerate profitable growth. Depending on the investment vehicle, the firm invests in control positions, growth capital or venture capital to help startups and existing businesses build growing, profitable and enduring businesses. Learn more at www.scpandco.com. Contacts Michael Sias Firm 19 [email protected]

The FCA issued a stern warning to the crypto ATM operators on February 14 earlier. U.K. anti-money-laundering laws require that all crypto ATMs be registered with the FCA. The Financial Conduct Authority (FCA), Britain’s financial watchdog, “disrupted” 26 of the 34 cryptocurrency ATMs it visited and investigated since the beginning of 2023. The Financial Conduct Authority (FCA) issued a stern warning to the United Kingdom’s crypto ATM operators on February 14: either comply with legislation or shut down illicit activities. In response to the alert, the FCA and other law enforcement authorities used their authority under anti-money laundering laws to conduct investigations at 36 cryptocurrency ATMs. Operating Illegally Steve Smart, joint executive director of enforcement and market monitoring at the FCA, has spoken out against the usage of cryptocurrency ATMs more generally. Smart stated: Smart said that anyone who falls prey to fraud at crypto or Bitcoin ATMs “will not be protected” by the government or the business that owns each machine. In May and June, when the FCA officially announced the launch of the inspection effort, 18 facilities were visited. U.K. anti-money-laundering laws require that all cryptocurrency exchanges and ATMs be registered with the Financial Conduct Authority (FCA). On July 8, the Clive Police Department published a report documenting a case in which a crypto scammer pretended to be law enforcement and took $6,000 from an unsuspecting victim by threatening an arrest warrant. Scammers use intimidation and false police identification to trick victims into sending money via cryptocurrency ATMs. It is vital to remember that law enforcement agencies never initiate contact with someone and demand payment by phone or via cryptocurrency. Highlighted Crypto News Today: Daily Bitcoin Ordinals Inscriptions Jumps Over 350,000

The Federal Reserve paused rate rises last month for the first time in almost a year. Inflation has been brought down from 9% in August 2022 to 4% in May. The U.S. June Consumer Price Index (CPI) will be released on Wednesday, and the PPI will be released the following day, bringing attention back to inflation statistics after a week of major employment announcements. In the event of a drop, investors may hope that the Federal Reserve would reconsider its plan to increase interest rates by 25 basis points (bps). The Federal Reserve paused rate rises last month for the first time in almost a year, signaling a return to monetary hawkishness. Investors to Keenly Observe Inflation has been brought down from 9% in August 2022 to 4% in May thanks to the Fed’s effort, but there are now fears that the Fed may have gone too far and sent the country into a deep recession. U.S. monetary policy watchers will be looking at the June Consumer Price Index report from the Labor Department on Wednesday. The CPI has crept slowly lower from last year’s peak. The majority of economists expect the index to drop by around 3% in June, while experts, said on Monday that the index might fall by as much as 2.8%. The PPI, which tracks changes in wholesale prices, is a good indicator of what customers might expect to see at the checkout counter. May’s PPI of 1.1% annual growth was much lower than April’s 2.3% increase and far below market estimates of a 1.5% drop. In June, economists expect an outcome of 0.4%. Crypto investors will be keenly observing the statistics as it is highly likely to affect the volatility of all cryptocurrencies. Highlighted Crypto News Today: Arkham Token Sale on Binance Spurs This Massive BNB Whale Activity

Glassnode reported that the number of new inscriptions jumped to over 350k on Monday. As of January, Ordinals were live on the Bitcoin blockchain. In the aftermath of the introduction of the BRC-69 token standard, inscribing, a process for creating Bitcoin non-fungible tokens (NFTs), has seen a surge in activity. According to statistics recorded by blockchain analytics company Glassnode, the number of new inscriptions jumped to over 350,000 on Monday. Since Ordinals’s launchpad Luminex introduced the Bitcoin Request for Comment (BRC)-69 token standard on July 3. The daily total has increased by more than 250%. Over 90% of the cost of Ordinal inscriptions was eliminated with the release of the updated BRC-20 standard. Luminex stated: Rapidly Growing Userbase Till now, it seems like BTC-69 has lived up to its billing. According to statistics compiled by Dune Analytics, daily inscription costs have remained stable despite a dramatic increase in the number of new inscriptions. As of January, Ordinals were live on the Bitcoin blockchain, bringing with them the NFT and smart contracts narrative and generating investor interest in tokens such as STX, the native currency of Bitcoin’s layer 2 Stacks Network. Despite the overall NFT market decline, this surge attributes to Bitcoin’s growing user base. According to Glassnode, there were two distinct phases to the Ordinals expansion, with the first covering the time period from early February to late April. The first wave was dominated by image-based inscriptions, while the second wave, which started in May, was dominated by free-paying text-based inscriptions. Highlighted Crypto News Today: BitOasis’ License Revoked by Dubai’s Crypto Regulator

Dogecoin (DOGE) experienced a substantial surge on the price chart towards the end of June. However, despite this notable increase, it failed to ward off the sellers who swiftly entered the market. Can Dogecoin regain its momentum and rise again, or will it succumb to the mounting pressure from the bearish sentiment? Bitcoin (BTC) also experienced a downturn in the previous week, and this negative trend had a noticeable impact on the sentiment surrounding Dogecoin. Unfortunately, the figures did not provide a strong basis for a potential recovery in DOGE. Instead, it indicated a looming decline towards the price range of $0.053 and $0.048. DOGE Bearish Indicators Emerge The current DOGE price on CoinGecko stands at $0.0652, experiencing a modest 0.7% rally within the past 24 hours. However, it is important to note that a decline of 5.8% has been recorded over the course of the past seven days. This price movement has prompted a closer examination of the market conditions, revealing some bearish signals and underlying trends. Based on a DOGE price report, it appears that bears are preparing to exert downward pressure on prices once again. The Relative Strength Index (RSI) has slipped below the neutral 50 level, indicating a shift in momentum towards the bearish side, suggesting that selling pressure may increase in the near future. Additionally, the On-Balance Volume (OBV) has been unable to surpass a resistance level since May, reflecting a lack of interest from buyers. This suggests that market participants may be hesitant to make significant purchases, contributing to the downward pressure on DOGE prices. Although some buyers noticed the recent short-term rally and made purchases as prices slowly edged higher, it is worth noting that this rally pales in comparison to the significant surge the meme coin experienced in early April, when Dogecoin reached the $0.1 level. This discrepancy, referring to the difference between the current rally and previous ones, implies that the present market upswing may be lacking an equivalent degree of enthusiasm and support from buyers. This observation raises questions about the sustainability and strength of the crypto. Outlook For DOGE The bearish signals observed, such as the RSI dropping below the neutral 50 level and the lack of conviction from buyers indicated by the OBV, suggest a challenging road ahead for DOGE. These factors may contribute to increased selling pressure and further price declines. Considering the current market conditions, it is important to approach the outlook for DOGE with caution. The short-term rally, although relatively subdued compared to past performances, could still offer opportunities for traders looking for quick gains. However, it is vital to remain vigilant and closely monitor the market dynamics. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from iStock

Hamburg-based Berenberg Capital Markets recently highlighted the upcoming Bitcoin halving event as a potential trigger for the bullish case of Microstrategy, a United States-based software firm, in a recent research note. The research note emphasized that Microstrategy, with a bullish price target of $430, primarily derives its value from its substantial holdings of over 150,000 BTC. And Berenberg expects the historical trend of Bitcoin rallying after each halving to repeat. Halving Events And Bitcoin’s Market Impact Halving events are significant occurrences in the Bitcoin network that happen approximately every four years. During these events, the rate of new coin issuance is reduced by 50%, resulting in a slower influx of new Bitcoins into the market. The upcoming fourth Bitcoin halving, scheduled for April 26, 2024, is expected to follow this pattern. Berenberg’s recent research note highlighted the historical trend observed in the previous three halvings and suggested that a pre-halving rally could potentially commence in about four months. If this rally follows a similar trajectory to previous halvings. It could persist until approximately October 2025, according to the research note. Berenberg noted: Correlation Between Bitcoin And Microstrategy’s Stock According to the research note, there is a strong correlation between Microstrategy’s stock price and the price of Bitcoin, estimated to be around 0.90. If the fourth bitcoin halving triggers a significant rally in the price of the cryptocurrency, it is likely that Microstrategy’s stock will follow suit. This forecast is due to the positive outlook for Bitcoin’s post-halving performance contributing to the anticipation of a potential rally in Microstrategy’s stock price. Following the release of Berenberg’s research note, Microstrategy’s stock, with the ticker symbol MSTR, has already witnessed a notable surge of 7% in the past day. The stock, which was trading below its current price range in the previous month, is now valued at $407. The market’s positive response reflects the optimism surrounding the potential impact of the upcoming Bitcoin halving event on Microstrategy’s performance. Furthermore, it is worth noting that the concept of halving has since been associated with significant market movements in the past. And investors closely monitor these events for potential opportunities. The reduction in new coin issuance, combined with market demand, has historically contributed to price appreciation in Bitcoin. As such, the anticipation of the upcoming halving has sparked interest and speculation among market participants. Berenberg’s analysis adds to the narrative that the halving event could have a bullish impact on the price of Bitcoin. And, consequently, on companies like Microstrategy, which holds a substantial amount of Bitcoin on its balance sheet. Featured image from Blockchain Reporter, Chart from TradingView