The company said it repaid almost $15 billion to investors over the previous three years. The $214 million loss on an investment in the insolvent FTX was a major setback. Venture capital powerhouse Sequoia Capital is said to have reduced the size of its cryptocurrency fund from $585 million to $200 million. The tech-focused VC company reportedly informed investors in March that it will cut the size of its Sequoia Crypto Fund and ecosystem fund to better reflect shifting market circumstances, as reported by the WSJ on July 27. Given the current crypto sector volatility, which has removed many of the possibilities to support bigger firms, the cryptocurrency fund will now concentrate more on funding early-stage entrepreneurs. According to the sources, a further motivation for the reductions is to make it easier for investors to participate in Sequoia’s fund offerings by lowering the required capital threshold. Internal Restructuring in Progress Moreover, the company said it repaid almost $15 billion to investors over the previous three years. The $214 million loss on an investment in the insolvent FTX was a major setback for the company in recent years. The reported decision by Sequoia is indicative of a larger trend among VC companies to reduce their crypto exposure. The firm is following the lead of other companies in the industry and making preparations to reorganize. The recent layoffs at Sequoia Capital’s talent operations section are indicative of the ongoing contraction in the Silicon Valley startup industry. It laid off 7 personnel from its talent operations staff. The corporation is redistributing resources and taking other steps to weather the economic storm, other than laying off workers. The venture capital business has begun an internal “restructuring” exercise that will last two years. Highlighted Crypto News Today: FTX and Genesis Join Hands to Resolve Bankruptcy Case

The Bitcoin price is currently in an uncertain situation. After BTC broke below the one-month trading range between $29.800 and $31.500, the bulls have so far failed to recapture this area. A first attempt failed on Wednesday at $29.725, a second effort on Thursday at $29.600. On the other hand, the bears currently also fail to push the price below the critical support at $29.000. In which direction the next movement will go is, as always, pure speculation, but data can give indications. Bullish Signal 1: Decreasing BTC Supply On Exchanges Renowned crypto analyst Ali Martinez shared an intriguing bullish chart, revealing that only 2.25 million BTC are currently held in known crypto exchange wallets. This is the lowest Bitcoin supply on trading platforms since January 2018. The data suggests that investors and long-term holders are refraining from selling and are instead choosing to keep their BTC off exchanges. This “hodling” behavior indicates a positive sentiment BTC holders. Bullish Signal 2: Lack Of Inflows From Bitcoin Whales Head of Research at CryptoQuant, Julio Moreno, pointed out another bullish sign when he shared a chart showing a lack of inflows from large investors with 1,000 to 10,000 BTC (aka Bitcoin whales) into exchanges. Moreno stated, “”Not really seeing Bitcoin whale inflows into exchanges.” Additionally, the same trend is observed among smaller investors, indicating a reluctance to deposit BTC into centralized exchanges. Commenting on the exchange deposit transactions (7-day SMA) chart, Moreno added, “indeed, seems nobody wants to deposit into centralized exchanges.” Such behavior suggests that significant holders and institutions are holding onto their BTC assets, potentially anticipating future price increases. Bearish Signal: Short-Term Holder (STH) MVRV Metric On-chain analyst Axel Adler Jr. addressed the short-term holder (STH) MVRV metric, saying: “STH MVRV is actively falling and we may see something similar to what happened in the two previous corrections.” The chart shown by Adler reveals that the STH MVRV fell either close to 0 or even below during the lows of the sharp Bitcoin price corrections in mid-March and mid-June. Currently, the STH MVRV is still somewhat elevated, so a last pullback in the Bitcoin price triggered by short term holder selling may be necessary for the MVRV to reset to 0. Adler also remarked that there isn’t a substantial Inflow to futures exchanges at the moment like there was in March and June. “Don’t expect a sharp breakthrough upwards or downwards,” added Adler. BTC Binance Spot Liquidity Analysis Analyst @52kskew shared a comprehensive analysis of BTC Binance spot liquidity, highlighting an interesting observation. The bid liquidity (bids > asks) and spot asks moved lower towards price due to low volatility. He added, “note the difference in volume leading to previous selloff & current falling volume & minimal decline.” Given the bid liquidity between $29,000 and $28,500, this area could be the point for buyers to step in if BTC experiences a pullback. In a bullish scenario, spot buying would occur in this area, followed by a rotation out of shorts. New longs get opened and price migrates towards spot supply near $30,000. In a sell off scenario, price grinds through spot bid liquidity and forced selling occurs, says Skew. Potential Impact of Economic Data On Bitcoin In addition, it is crucial to keep an eye on macroeconomic factors that could influence Bitcoin’s price. The release of the Personal Consumption Expenditures Price Index (PCE) at 8:30 am EST today is of particular importance. During Wednesday’s FOMC press conference, Fed Chairman Jerome Powell stressed the importance of core inflation, which is proving sticky. Therefore, the Core PCE in particular, needs to continue falling to alleviate the Fed’s inflation concerns. If the 4.2% expectation for core PCE is exceeded, a bullish reaction from Bitcoin can be expected. At press time, the Bitcoin price stood at $29,210.

Crypto millionaire Algaba was found murdered in Argentina. The autopsy revealed gunshot wounds before the gruesome dismemberment. In a shocking discovery that has sent shockwaves through Argentina, the missing crypto millionaire influencer, Fernando Perez Algaba, was found murdered and dismembered. Children who came across a red suitcase in Ingeniero Budge, stumbled upon the lifeless body parts of the 41-year-old last week. Police swiftly launched a comprehensive murder investigation into the crime. According to harrowing reports from the New York Post, the suitcase contained Algaba’s severed legs, arms, and other body parts, identified as belonging to him. The subsequent recovery of his head and torso on Wednesday only added to the grim reality of the crime. And the level of precision in the dismemberment has led investigators to suspect the involvement of a professional in this act. Algaba and his Crypto Life Algaba, a prominent figure in the crypto world, resided in Spain, and actively participated in the sale of digital assets. However, he has now returned to Argentina, where he continues to live a lavish lifestyle. Meanwhile, Amid the tragic discovery, a disturbing note was found on Algaba’s phone. It revealed his distress over significant losses from crypto investments. Additionally, he allegedly had connections with the notorious Barra Brava, a gang that demanded a substantial loan from him. Finally, As friends and family had reported Algaba missing, the identification process using fingerprints and tattoos confirmed the body’s identity. His followers mourn the loss of the influential figure, and society reflects on the risks associated with high-profile financial ventures. Highlighted News Today XDC-based Plugin (PLI) Witnesses Remarkable Price Surge

The second quarter of 2023 marked a turning point for Polygon (MATIC), including the Polygon 2.0 upgrade, new tokenomics, and a POS upgrade. The long-term bullish sentiment surrounding Polygon (MATIC) indicates positive prospects. Polygon (MATIC) price declined over 3.3% in the last 24 hours and 7.5% in a week. Polygon (MATIC) has risen as a prominent player, captivating the community with its utility and chart-topping sprawl in the ever-evolving crypto-verse. The platform has also redefined perceptions of layer-2 protocols, solidifying its position as a touchstone for emerging layer-2 solutions in the crypto market. The second quarter of 2023 proved to be a game-changer for Polygon, as it made a series of groundbreaking announcements. Among the highlights were the highly anticipated Polygon 2.0 upgrade, the introduction of new tokenomics, and a successful Proof of Stake (POS) mechanism upgrade. Also, throughout July, Polygon Labs continued to make waves with significant updates and strategic partnerships. Here’s a roundup of the recent developments. Polygon Major Updates in July Polygon’s (MATIC) Significant Updates in July On July 2, Polygon Labs and Warner Music Group joined hands to launch a Music Accelerator Program. That ushering a new opportunities for music creators in the blockchain space. Four days later, on July 4, Polygon’s Proof of Stake (POS) mechanism showcased remarkable progress. Setting the stage for an imminent upgrade to Zero-Knowledge Validium. This advancement promises increased scalability and efficiency, elevating Polygon’s capabilities to new heights. Continuing its stride, Polygon made a bold proposal on July 13. To replace its native token, “MATIC”, with an innovative new token named “POL”. This strategic move is set to reshape the platform’s ecosystem, unleashing novel possibilities for users and investors alike. As July 11 dawned, the crypto market witnessed a MATIC surge of over 10% in response to the much-anticipated Polygon 2.0 upgrade announcement. The market’s embrace of these enhancements reaffirms Polygon’s status as a trailblazer in the industry. On July 14, MATIC further validated its worth by soaring from $0.7154 to $0.87, swiftly reclaiming the 10th position in the market. This price surge not only solidified MATIC’s standing but also garnered the attention of investors and traders. July 26 brought a momentous collaboration, as Italy’s Central Bank turned to Polygon to facilitate the exploration of DeFi and tokenized assets for financial institutions. This partnership signifies the recognition of Polygon’s potential to revolutionize traditional finance and accelerate the adoption of decentralized solutions. Lastly, on July 27, the much-anticipated Palm Network announced the launch of its NFT creators’ platform on the Polygon Supernet. The collaboration between Palm Network, Polygon Labs, and Consensys paves the way for a future zkL2 upgrade. Fueling anticipation for a transformative NFT ecosystem. Polygon (MATIC) 24 Hours Market Status: Polygon (MATIC) has been experiencing a mix of price action, with a 1-month rally of 11% that hints at potential positive movement. However, the coin has suffered a 3.3% slump in the last 24 hours and a 7.5% decline over the past seven days, indicating bearish sentiments in the market. Polygon (MATIC) Price Chart (Source: Tradingview) When looking at the weekly time frame, a negative outlook emerges. Mainly due to the failure to break through a long-term horizontal resistance level. Considering the daily Relative Strength Index (RSI), it becomes evident that MATIC is approaching neutral territory, standing at 50. Further, the short-term bull-bear power indicates the presence of more powerful bulls, hinting at a notable uptrend. Recommended for you Polygon (MATIC) Price Prediction 2023,

The FTX and Genesis parties will resolve their disputes with their settlement. Gemini filed a lawsuit against Genesis alleging fraud against creditors. FTX, the leading crypto exchange, is facing issues as its former CEO, Bankman-Fried has been accused of criminal charges. In the latest development, the bankrupt crypto firms FTX and Genesis have reached an agreement in principle. It would resolve the claims made by both firms in their ongoing lawsuits over Chapter 11 bankruptcy cases. On July 27, the bankrupt firms FTX and Genesis shared an announcement revealing that both parties had reached an agreement in principle, subject to documentation. It concerns a settlement that will resolve the claims made by both crypto firms. In the letter, their lawyers noted that through this agreement, both parties will resolve their disputes. Both firms were going to request that the bankruptcy court approve the deal. Moreover, the settlement is likely to bring relief to Genesis creditors. Genesis Has Declined the FTX Statement The crypto firm Genesis has become one of the largest creditors for the collapsed crypto exchange FTX and its affiliated companies, with a value of $226.3 million owned. According to the filings in January, it includes major creditors. On the other hand, FTX claimed that the crypto lender Genesis owned up to $4 billion, which it later reduced to a maximum of $2 billion. However, Genesis has rejected this statement. The lending divisions of Genesis have temporarily stopped the redemption of new loans due to the FTX collapse in November. After that, in early January, the company filed for Chapter 11 bankruptcy protection in New York bankruptcy court. The firm came to this settlement after facing a continuous loss due to the collapse of Three Arrow Capital and FTX last year. Adding to that, Genesis has joined hands with the crypto exchange Gemini by entering a major feud. It claims that it owns more than $1 billion of its customer’s deposits with Genesis. After the collapse, the crypto exchange Gemini filed a lawsuit against Genesis, alleging fraud against creditors.

BNB price (Binance coin) is consolidating below $250 against the US Dollar. The price could start a strong increase if it clears the $245 and $250 resistance levels. Binance coin price is struggling to gain pace above the $250 zone against the US Dollar. The price is now trading below $245 and the 100 simple moving average (4 hours). There was a break above a key bearish trend line with resistance near $240 on the 4-hour chart of the BNB/USD pair (data source from Binance). The pair might gain bullish momentum above $245 and $250. Binance Coin Price Eyes Fresh Increase In the past few days, BNB price saw a couple of swing moves from $245. The bulls struggled to push the price above the $250 resistance. The price reacted to the downside a couple of times and tested the $235 support zone. A low is formed near $253.6 and the price is attempting a fresh increase, unlike Bitcoin and Ethereum. There was a move above the $240 resistance. The price spiked above the 23.6% Fib retracement level of the downward move from the $262 swing high to the $235 low. There was also a break above a key bearish trend line with resistance near $240 on the 4-hour chart of the BNB/USD pair. BNB price is now trading below $245 and the 100 simple moving average (4 hours). On the upside, it is facing resistance near the $245 level. The next major resistance is near $250 or the 50% Fib retracement level of the downward move from the $262 swing high to the $235 low. A close above the $250 resistance might increase the chances of a push above the $255 resistance. Source: BNBUSD on TradingView.com A clear move above the $255 resistance might start a steady increase. The next major resistance is near the $262 level, above which the price might rise toward the $270 resistance. Another Decline in BNB? If BNB fails to clear the $245 resistance, it could start another decline. Initial support on the downside is near the $236 level. The next major support is near the $232 level. If there is a downside break below the $232 support, the price could drop toward the $220 support. Any more losses could send the price toward the $212 support. Technical Indicators 4-Hours MACD – The MACD for BNB/USD is losing pace in the bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level. Major Support Levels – $236, $232, and $220. Major Resistance Levels – $245, $250, and $255.

Bitcoin price is struggling to rise above the $29,300 resistance level. BTC could start another decline and trade below the $28,880 support zone. Bitcoin is struggling to rise above the $29,300 and $29,600 levels. The price is trading below $29,300 and the 100 hourly Simple moving average. There was a break below a major bullish trend line with support near $29,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down unless there is a close above the $29,600 resistance. Bitcoin Price Faces Uphill Task Bitcoin price attempted a short-term recovery wave above the $29,200 resistance zone. BTC was able to climb above the $29,300 resistance zone but the upsides were limited. The price struggled to clear a major hurdle near the $29,600 level as mentioned in yesterday’s post. It seems like the bears defended the 50% Fib retracement level of the upward wave from the $30,334 swing high to the $28,880 low. Bitcoin price started a fresh decline below the $29,400 level. There was a break below a major bullish trend line with support near $29,300 on the hourly chart of the BTC/USD pair. The price is now trading below $29,300 and the 100 hourly Simple moving average. Immediate resistance is near the $29,300 level and the 100 hourly Simple moving average. The first major resistance is still near the $29,600 level. Source: BTCUSD on TradingView.com The next major resistance is near the $29,800 level or the 61.8% Fib retracement level of the upward wave from the $30,334 swing high to the $28,880 low, above which the price might rise toward the $30,000 resistance zone. The next major resistance is near the $30,400 level. More Losses in BTC? If Bitcoin fails to clear the $29,300 resistance, it could continue to move down. Immediate support on the downside is near the $29,000 level. The next major support is near the $28,880 level, below which the price could accelerate lower. The next support is near the $28,200 level. Any more losses might call for a move toward the $27,700 level in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $29,000, followed by $28,880. Major Resistance Levels – $29,300, $29,600, and $30,000.

Ethereum price is struggling to clear the $1,885 zone against the US Dollar. ETH could start a decent recovery if there is a close above $1,885 and $1,900. Ethereum is showing a few bearish signs from the $1,885 resistance. The price is trading below $1,870 and the 100-hourly Simple Moving Average. There is a major bullish trend line forming with support near $1,858 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline sharply if there is a close below the $1,850 support. Ethereum Price Faces Rejection Ethereum’s price attempted a short-term recovery wave above the $1,850 zone. ETH was able to recover above the $1,855 and $1,870 levels, similar to Bitcoin. However, the bears protected more upsides above the $1,885 resistance zone. A high was formed near $1,887 and the price reacted to the downside. There was a drop below the $1,870 level and the 100-hourly Simple Moving Average. Ether declined below the 50% Fib retracement level of the recovery wave from the $1,832 swing low to the $1,887 high. It is now trading below $1,870 and the 100-hourly Simple Moving Average. There is also a major bullish trend line forming with support near $1,858 on the hourly chart of ETH/USD. The trend line is close to the 61.8% Fib retracement level of the recovery wave from the $1,832 swing low to the $1,887 high. On the upside, immediate resistance is near the $1,870 level and the 100 hourly SMA. The first major resistance is near the $1,885 level. The next key resistance is near the $1,900 level, above which the price might rise toward the $1,920 resistance. Source: ETHUSD on TradingView.com A close above the $1,920 resistance could start a steady increase. The next resistance is near the $1,975 zone, above which the price might rise toward the $2,000 hurdle. More Losses in ETH? If Ethereum fails to clear the $1,885 resistance, it could continue to move down. Initial support on the downside is near the $1,855 level and the trend line. The first major support is near the $1,850 zone, below which the price might revisit the $1,830 zone. The next major support is near the $1,780 support level. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,850 Major Resistance Level – $1,900

Solana (SOL) has experienced a notable downturn recently, unable to sustain itself above the $32 mark. The altcoin remains below a strong resistance level, but a potential breakthrough could lead to a 20% price appreciation. In the last 24 hours, SOL saw a modest surge of 2.2%, but its performance on the weekly chart shows minimal upward movement. Despite the challenges, there are two essential bullish signals to consider: the morning star reversal sign and a bullish pennant formation. These signals suggest that if SOL surpasses the immediate resistance, the coin might aim for a rally back to levels it reached two weeks ago. In the broader market context, Bitcoin’s re-entry into the $29,000 price level has caused retracements in altcoins on their respective charts. Therefore, for SOL to surpass the immediate resistance, it will require strong support from the broader market. The market capitalization of SOL has also experienced a decline, indicating a slight weakening in buying strength. Solana Price Analysis: One-Day Chart At the time of writing, SOL was valued at $24.90. The coin tried to reach the $32 level, but the bulls faced resistance and could not sustain it. Subsequently, SOL has been striving to breach the immediate resistance level at $26. A successful move above $26 could propel the coin’s value to $28. It may encounter a potential price ceiling at that level. If this level is surpassed, the coin could rally further to reach $30. On the other hand, there is a downside risk. If SOL fails to hold above the $26 level, it might face a decline to $21. A further fall below this mark could result in a drop to $18. The price movement remains crucial for SOL’s future trajectory. Technical Analysis The market exhibited bullish signals, with the bulls taking control despite a slight dip in buying strength. The Relative Strength Index (RSI) indicated buyers dominated the market, as it remained above the half-line. Moreover, the price movement above the 20-Simple Moving Average (SMA) line highlighted the influence of buyers in driving the price momentum. Should the price maintain its position above the 20-SMA, increased demand is anticipated to propel the asset’s value above the immediate resistance line. This could potentially lead to further bullish movement in the market. Despite the continued dominance of buyers, SOL presented sell signals on the daily chart. The Moving Average Convergence Divergence (MACD) formed red signal bars, suggesting a potential slight dip in the price before any attempt to breach the $26 mark. This indicator reflects the price momentum and its shift. Additionally, the Chaikin Money Flow (CMF) was below the half-line, indicating that capital inflows were lower than capital outflows. This observation suggests a potential decrease in buying pressure at the given moment. The upcoming trading sessions hold significance for the altcoin’s price movement, as the broader market may influence the further trajectory of SOL.

Decentralized Exchange (DEX) PancakeSwap (CAKE), has announced the launch of PancakeSwap v3 on zkSync Era, a Layer 2 scaling solution that promises to deliver improved scalability, efficiency, and cost-effectiveness to its users. According to the announcement, with the popularity of ZK rollups increasing and users and builders increasingly looking to L2 solutions, PancakeSwap is thrilled to offer users and developers even more reasons to build and trade on its DEX. The Benefits Of PancakeSwap v3’s Swap Feature On zkSync Era PancakeSwap v3 on zkSync Era comes with several exciting features, including Swap, Liquidity Provision (LP), Farms, and Initial Farm Offering (IFO). The Swap feature allows users to enjoy quick and cost-effective token swaps through a user-friendly interface. With multi-tier fee structures ranging from 0.01% to 1%, traders can select the fee structure that aligns best with their trading preferences and liquidity pool engagement. With low trading fees, users can trade their favorite tokens seamlessly while enjoying enhanced liquidity and reduced slippage. Moreover, the Liquidity Provision feature lets users become part of PancakeSwap’s thriving decentralized exchange ecosystem by providing liquidity. Liquidity providers earn passive income through trading fees when people use their liquidity pool to complete swaps. Per the announcement, with the scalability of zkSync Era, users can maximize their returns, achieving an impressive capital multiplier of up to 4000x. Users can engage in Swap, LP, and social media tasks to earn loyalty points and unlock exclusive NFTs. The Galxe campaign provides an opportunity to explore and experience the power of PancakeSwap on this ecosystem, unlocking the full potential of the platform. Ultimately, the integration with zkSync Era allows PancakeSwap to increase its transaction capacity and reduce congestion on the Ethereum network. As the popularity of DeFi continues to grow, the Ethereum network has become congested, leading to high gas fees and slower transaction times. By leveraging Layer 2 scaling solutions like zkSync, PancakeSwap can significantly increase its transaction capacity, reduce congestion, and offer users a more reliable and cost-effective trading experience. What’s more, the integration with zkSync Era is expected to pave the way for the mass adoption of DeFi. By offering users faster and cheaper transactions, PancakeSwap can attract more users to the platform, increasing the adoption of DeFi as a whole. PancakeSwap’s Revenue Hit By Market Conditions PancakeSwap has experienced some fluctuations in its market performance recently. According to Token Terminal data, PancakeSwap’s circulating market cap is currently $313.88 million, with a 1.16% decline in the past 24 hours. Meanwhile, its fully diluted market cap has declined by 3.22% in the same period, currently standing at $1.12 billion. Similarly, the total value locked on the platform has also decreased by 0.77% in the past 24 hours, currently sitting at $1.23 billion. Over the past 30 days, PancakeSwap has generated $1.20 million in revenue, representing a decline of 26.02%. Its annualized revenue has also decreased by 32.11% to $14.55 million. The trading volume on PancakeSwap for the past year is $40.22 billion, indicating a 16.00% decline. The fully diluted P/F ratio of PancakeSwap has increased by 31.2% to 26.21x, while its P/S ratio has also increased by 29.1% to 76.46x. In the past 30 days, PancakeSwap has generated $3.49 million in fees, representing a decline of 27.23%. Its annualized fees have decreased by 32.59% to $42.45 million. These figures suggest that PancakeSwap’s performance has been impacted by recent market trends. Despite the decline in revenue and trading volume, the platform’s P/F and P/S ratios have increased, indicating a higher valuation for the company. Featured image from Unsplash, chart from TradingView.com

SEATTLE–(BUSINESS WIRE)–As students around the world prepare for the next school year, high school seniors in San Luis, Argentina are demonstrating the power of a new blockchain-based stable digital token system designed to fuel graduation rates by protecting users against the country’s notoriously high inflation. The students are early adopters of Billetera Activa, a groundbreaking new model to support secure, stable financial transactions in areas of the world where inflation remains a risk. The one-of-a-kind private blockchain platform enables users to create, redeem, trade and save stable digital assets backed by the U.S. dollar. San Luis provincial leaders partnered with AccelOne, a custom software solutions development provider, on the design, architecture, building and testing of the robust technology platform. Building on success with student users, province officials plan to roll out Billetera Activa to merchants and other residents in the coming months. “Billetera Activa represents a dynamic new tool for the government and citizens of San Luis, Argentina and we are excited to help promote financial opportunities, literacy, education and inclusion by enabling them to securely access, manage and maintain the value of stable assets,” said Scott Craig, AccelOne CEO and co-founder. The province of San Luis has a robust history of deploying social and economic programs to help its residents thrive, but Argentina’s hyperinflation has consistently made it challenging for people to save and invest. Over the past century, the average yearly inflation rate was 105%, with a historic high of 3,079% in 1989. While San Luis has successfully operated a graduation incentive program for many years, Billetera Activa replaces the former practice of distributing paper stamps, or certificates, to graduates, which they physically redeemed for Argentinian pesos. The paper stamps would lose value virtually the minute they were printed. Instead of saving the incentives, most students cashed them in immediately before their buying power could further decline. In 2022, leaders in San Luis reached out to AccelOne to create a strategic plan to redesign the graduation incentive program using blockchain technology. AccelOne and San Luis officials rolled out Billetera Activa in phases before launching the app to all eligible students, loading their secure digital wallets with digital tokens worth $2,500 USD each. As of May 2023, 100 percent of the 5,201 eligible student users have successfully created an account in Billetera Activa. Likewise, government professionals who manage the program have created 6,254,401 total Billetera Activa digital tokens. “When we started this project, we knew there were opportunities to serve our community with blockchain technology, with a very specific goal in a very short amount of time. The AccelOne team was able to envision the opportunity to make a real impact,” according to Jeremias J. Thuer, the San Luis product owner. “We are very grateful for AccelOne’s responsiveness and willingness to work as a team from the beginning; taking our idea and turning it into an application with a real impact on the community, giving their engineers the autonomy to be creative and diligent.” Students also share high praise for the program, which enables them to continue their education while helping to provide for their families. “I am very happy to receive these assets, it is a very important help for the young people of San Luis,” said Sol Pereyra, a Billetera Activa account holder and recent graduate. To build the Billetera Activa platform, AccelOne collaborated with the Province Ministries of Finance, Education and Technology to understand the community’s needs ranging from banking integrations to realistic load speeds, and drive program development, platform integrations and communication with students. With an all-hands-on-deck mentality, the team worked within an agile environment to conduct parallel analysis, design, development, and quality assurance. They launched operational versions of the platform after five months – in time for graduation in December 2022. For additional security, AccelOne recommended that clients hire an independent third party to test for any gaps in cybersecurity controls, ensuring a high level of security for the app’s infrastructure. The idea is to proceed to the next phase of Billetera Activa which will extend use of the secure, stable and scalable blockchain platform to merchants and residents across San Luis, building on success with graduates to create a province-wide solution to the effects of inflation and secure upward mobility for the community. “We’re thrilled with the early success of the Phase One roll out to students and are excited to begin thinking of a possible Phase Two to allow other community members to realize the benefits of a more stable financial future,” Craig said. About AccelOne: AccelOne is a full-cycle software development company and tech talent sourcing agency headquartered in Seattle with a nearshore development office in Buenos Aires, Argentina. They partner with midsize to enterprise-level clients globally to deliver quality solutions and position businesses towards success through custom software, mobile and web apps. As one of Seattle’s most trusted software development companies, they utilize their team of experts to achieve agile development and high-quality results that encompass all aspects of the technological process. Find more at https://accelone.com/ Contacts Annie Alley 206.466.2713 [email protected]

Bitcoin, the world’s largest cryptocurrency by market cap, has traded at or near $30K per coin for the better part of 2023. Throughout the year, an uptrend channel has formed that is currently still holding. If support remains unbroken, it could propel BTCUSD to the top of the parallel channel which is currently located at or around $42K per coin. A Bitcoin Price Channel For Your Viewing Pleasure 2023 might not have featured the same painful drawdowns in Bitcoin and other cryptocurrencies as 2022 did, but the market is still doling out suffering in the form of boring, sideways price action, and crypto winter PTSD. Although BTCUSD has mostly been ranging around the $30,000 level for months now, it has overall remained in an uptrend. Uptrends are defined as a series of higher highs and higher lows. Oftentimes, these uptrends are supported by drawing a trend line below intraday troughs. Depending on the price action, occasionally a parallel channel will form, providing both support and resistance on either end, keeping an uptrend from moving upward too quickly despite the general trajectory. Such a parallel uptrend channel has formed in Bitcoin, and if the upward-sloping support trend line continues to stay solid and intact, a move to the top of the channel is likely. Tune In To Find Out What Happens Next In Crypto The channel began to form in late 2022, acting first as an upward-sloping support line that broke down during the FTX collapse. Bitcoin price then meandered sideways until a new, parallel upward-sloping support carried it higher. With the previous support now acting as resistance, it created the upper boundary of the parallel channel that price is now ping-ponging back and forth within. If the current uptrend structure holds this latest selloff, a push to the upper resistance boundary is possible. As time ticks by, this upper boundary will reach $42K within the next week or two. If Bitcoin does indeed make a run for the upper boundary, this price is within striking distance by early August. On the other hand, if the channel breaks down, it could be a sign the uptrend is over and short-lived. Failure to produce a meaningful rally could tell the market that the downtrend has resumed, and new lows are ahead.

A noteworthy development has occurred in regulating the United States’ crypto space as a House Committee has approved a bill to bring clarity into the industry. On July 26, the U.S House Financial Services Committee approved the Financial Innovation and Technology Act for the 21st Century Act, popularly known as FIT21. After a long deliberation, the House Committee greenlighted the FIT21 bill with a 35-15 voting result. It is worth stating that the FIT21 has been garnering attention, with Coinbase CEO Brian Armstrong taking to Twitter to urge crypto users in the United States to actively push for this bill’s approval. Although Armstrong believed the bill would likely be modified as it passes the complete legislative process, its approval by the House Committee was vital to safeguard the crypto space, “American innovation and national security.” The FIT21 Act – A Landmark Legislation For U.S. Crypto Space? The Financial Innovation and Technology for the 21st Act was recently introduced to the House on July 20. In the Act’s introductory statements, Representative French Hill, who serves as Chairman of the House Subcommittee on Digital Assets, Financial Technology, and Inclusion, referred to the bill as a “landmark legislation” critical to creating an efficient regulatory framework to safeguard crypto users’ interests. The U.S. House Representative further stated that this bill would have prevented the FTX crisis and provided much-needed clarity in crypto. Hill said: In addition, the FIT21 Act will enhance cooperation between the two financial regulators trying to assume control of the U.S. crypto market. U.S. Representative Dusty Johnson, another sponsor of the bill, emphasized this motion saying: Related Reading: SEC Potential Appeal To Yield Little Effect On XRP, Crypto Lawyer Says U.S. Congress Finally Stepping Up Crypto Regulations The call for a regulatory framework in the U.S. crypto space has been on for quite some time, especially with multiple clampdowns by the SEC on various crypto exchanges and businesses in 2023. U.S. Patrick McHenry highlighted this situation, stating the United States is “falling behind” other nations regarding digital asset regulation. However, the introduction of the FTI21 Act, along with other bills such as the Blockchain Regulatory Act, the Digital Asset Market Structure Proposal, and the “Lummis-Gillibrand” Bill, suggests that the United States government may be ramping up its regulatory efforts in the crypto landscape.

Over the last day, the majority of the crypto market has been rallying alongside Bitcoin. But Dogecoin seems to have a mind of its own as it has gone in the opposite direction. The meme coin started out Thursday with a decline, which follows the trend of DOGE deviating from the general crypto market trend over the past week. Dogecoin Fails To Register Similar Gains To Larger Altcoins Dogecoin has struggled to keep up with the gains of top altcoins such as Ethereum and XRP. In this time, the meme coin has maintained a rather constrained trend, falling over 3% in the early hours of Thursday while the likes of Bitcoin saw recoveries. This is not the first that DOGE has gone in the opposite direction in as many days. Earlier in the week, the price of Bitcoin fell below $30,000, taking the broader market down with it. However, DOGE remained resilient in the face of this bear trend as billionaire Elon Musk reiterated his support for the digital asset once more. With the change of Twitter to X, Musk had changed his location to X but added the infamous DOGE symbol as well. This move sparked speculation of Dogecoin being integrated into the social media platform as a payment method and the price rallied as a result of this. Thus, while digital assets across the space saw their prices falling, Dogecoin was rising as high as double-digit daily gains. So the meme coin’s deviation during the market recovery comes as no surprise given the expected cool-off from its earlier rally. DOGE Becomes 7th-Largest Cryptocurrency Despite Dogecoin not following the market uptrend, the meme coin continues to maintain its standing in the market. DOGE is currently the 7th-largest cryptocurrency with a market cap of $11.1 billion. This puts it ahead of Cardano, which lost its spot to the meme coin following’s DOGE’s multiple rallies this week. However, DOGE is currently seeing a significant slowdown in its momentum with a rapid decline in daily trading volume. According to Coinmarketcap, the daily trading volume of Dogecoin is down more than 45% in the last day to rest at $678 million at this time. This nosedive in trading volume indicates that investors may already be moving away from the asset as they believe the rally might already be over. Given this, the meme coin may have a hard time mounting a recovery at this level. Nonetheless, the slowdown in momentum would not matter if Musk mentions the coin in the coming days as it would rally nonetheless.

On Thursday, the Governing Council of the European Central Bank (ECB) announced that it was raising “three key ECB interest rates” by 25 basis points (BPS) in a move similar to the one taken by the United States Federal Reserve. The US Federal Reserve, on Wednesday, increased its fund rates by an additional 25 BPS, its highest interest rate in 22 years. European Central Bank In The Fight Against Inflation The European Central Bank, in its statement, admitted that although inflation continues to decline, it is “still expected to remain too high for too long.” In a bid to fight inflation and return it to its 2% medium-term target in a timely manner, the governing council has continued to hike the interest rates for some time now, and this has further raised concerns for investors in the financial market as to whether or not there will be hikes before year ends. For context, the ECB has raised rates by 4.00% since last year July, accounting for the fastest-tightening cycle in its history. It is projected that this rapid increase in rates could negatively affect the expansion of loans in the European region and economic activity also. A quarterly poll released by the ECB on July 25 revealed that the companies’ demand for loans plunged to its lowest in the second quarter of this year. The eurozone has less developed and liquid capital markets than the United States, so there is an overreliance on banks in financing the economy. And now, according to ECB Chief Economist Philip Lane, the tighter monetary policy is massively impacting bank loans. So such policies will undoubtedly cause a liquidity squeeze. Bitcoin’s Role Although inflation continues to decline, it is evident that the ECB and US Federal Reserve aren’t getting the desired results as to the target to which they want to bring inflation down to. As such, these financial bodies may continue increasing the rates to as high as possible despite the dramatic economic slowdown. Investors are aware of this position and are looking toward Bitcoin and other cryptocurrencies for succor. For a long time now, Bitcoin has been tagged as a ‘hedge against inflation,’ and it seems that many are realizing that this is more than a tag as Bitcoin has remained stable despite the growing rates, which many would have expected would send Bitcoin and the crypto market spiraling down. Unlike the United States, European investors are lucky to have more regulatory certainty in the region. The Markets in Crypto Assets (MiCA) regulation offers a sense of direction to stakeholders in the European crypto industry. This will help businesses and investors navigate their way when operating and dealing with crypto assets.

Binance Smart Chain (BNB) has seen significant growth in its daily active addresses and transactions in the second quarter of 2023, according to a report by blockchain analytics firm Messari. The increase in activity was primarily driven by LayerZero, a cross-chain messaging protocol that enables lightweight and efficient communication between different networks. However, BNB’s market cap declined by 25.2% after the US Securities and Exchange Commission (SEC) alleged that BNB is a security in its regulatory actions against Coinbase and Binance. Despite this, the total cryptocurrency market cap increased by 2% quarter-over-quarter (QoQ), primarily driven by Bitcoin (BTC) and Ethereum (ETH). BNB Q2 Revenue Declines Per the report, BNB’s revenue in BNB decreased by 6.1% QoQ as average transaction fees declined 25.5% after BSC validators voted to reduce gas fees from 5 to 3 Gwei. Nevertheless, staking on the network remained stable. BNB Chain plans to increase the number of validators from 29 to 100 with a new validator reward model (balanced mining) and a validator reputation system. On the other hand, the Binance Smart Chain saw a decrease in total value locked (TVL) denominated in USD during Q2 2023, decreasing by 26.3%. However, TVL denominated in BNB was relatively flat at -2.8%. While PancakeSwap remained the most prominent protocol by TVL on the BNB Chain, its dominance decreased from 45% to 37% during the quarter, indicating a shift in TVL concentration towards a more robust DeFi ecosystem. In the stablecoin space, Binance Smart Chain has the third-highest total stablecoin market cap of approximately $5.7 billion, trailing behind Ethereum and TRON. The BUSD market lost some of its users after regulators forced Paxos to cease the issuance of BUSD, resulting in a decline of approximately 54% in the BUSD market cap on the BNB Chain during Q1. Developer engagement also showed positive growth during Q2, with the number of unique contracts verified growing by 51.9% QoQ, and full-time developers on the BNB Chain increasing from 130 to 133 QoQ. Despite the decline in TVL denominated in USD, the BNB Chain’s continued expansion of its DeFi ecosystem and the shift in TVL dominance towards a more diverse range of protocols signal a promising outlook for the ecosystem’s future. Binance Smart Chain Outlines Ambitious Plans For 2023 Despite the regulatory challenges, BNB Chain has laid out robust plans for 2023, including increasing the network’s gas limit to boost throughput and reducing the data footprint through state offload. BNB Chain also plans to further decentralize by introducing a new validator reward model and a validator reputation system to increase the number of validators from 29 to 100. The roadmap highlights other initiatives, including increased scalability through modular architecture, creating a data storage network, and implementing consumer protections provided by blockchain security firms. In Q2, BNB Chain validators and projects discussed the integration of miner extractable value (MEV) within the BSC network, with some validators piloting MEV in various formats. With its wide-reaching plans, BNB Chain aims to remain competitive for the rest of 2023. While the regulatory challenges faced by Binance and Binance.US directly impact the entire crypto ecosystem, Binance and BNB Chain are separate entities. Binance, Binance Labs, and the Binance Launchpad help grow the BNB Chain ecosystem through asset listings, liquidity provision, investment, and project launches. The outcomes of the ongoing lawsuits are unpredictable, and adverse outcomes could slow the advancement of the BNB Chain ecosystem and bring continued volatility to its native BNB token. Featured image from Unsplash, chart from TradingView.com

Automotive Electronics Momentum Drives 32% Growth in Bookings From First Quarter 2023 Significant Year-over-year Increases in Sales and Profits REDMOND, Wash.–(BUSINESS WIRE)–Data I/O Corporation (NASDAQ: DAIO), the leading global provider of advanced security and data deployment solutions for microcontrollers, security ICs and memory devices, today announced financial results for the second quarter ended June 30, 2023. Second Quarter 2023 Highlights Net sales of $7.4 million; bookings of $7.6 million Quarter-end backlog of $3.8 million Gross margin as a percentage of sales of 59.1% Net income of $300,000 or $0.03 per diluted share Adjusted EBITDA* of $869,000 Cash & Equivalents of $11.9 million; no debt Automotive Electronics represented 63% of year to date 2023 bookings SentriX® security provisioning platform delivering increased growth of pay-per-use revenues 5 new customer wins *Adjusted EBITDA is a non-GAAP financial measure. A reconciliation is provided in the tables of this press release. Management Comments Commenting on the second quarter ended June 30, 2023, Anthony Ambrose, President and CEO of Data I/O Corporation, said, “We delivered a strong quarter with revenue and bookings at multiyear highs. Business momentum accelerated through the second quarter 2023 primarily due to strength in automotive and industrial electronics demand in the Americas and Europe. Relative weakness in China has been more than offset by strength elsewhere. Through the first half of 2023, revenues increased by 50% from the prior year, and bookings in the second quarter of $7.6 million achieved the highest quarterly level in two years. We secured five new customer wins in the second quarter, including a marquee win at a global EV OEM. Data I/O continues to be the clear leader in EV vehicle programming worldwide. SentriX, our patented security provisioning platform, delivered increasing pay-per-use revenues as customers ramp their production volumes of secure IoT devices. “Our continued momentum and the successful implementation of our growth initiatives are fueling our positive outlook. We expect to benefit from long term secular and regulatory growth catalysts, including EV demand, growth in IoT and mandated security requirements. Semiconductor growth in automotive electronics is forecasted to grow 10-15% per year for several years, driving demand for programming worldwide.” Financial Results Data I/O’s financial results featured strong revenues, gross margin, profitability and bookings for the second quarter 2023. This is combined with a strong balance sheet that is debt free. Net sales in the second quarter 2023 were $7.4 million, up 55% as compared with $4.8 million in the second quarter 2022. The increase from the prior year period primarily reflects a more normalized operating environment and increased activity within the automotive electronics industry. Second quarter 2023 bookings were $7.6 million, up 32% from $5.7 million in the first quarter 2023 and 19% from $6.4 million in the second quarter 2022. There was an increase in orders from customers in the Americas and Europe. Asia showed moderately improved order flow but overall demand continues to be impacted by the slower than expected economic recovery in China. Automotive electronics represented 63% of year to date bookings compared to 61% for all of 2022. Backlog at the end of second quarter 2023 remained strong at $3.8 million, and the Company ended the period with deferred revenue of $1.6 million. The Company expects a larger than normal percentage of scheduled backlog to be recognized as revenue in Q4. Gross margin as a percentage of sales was 59.1% in the second quarter 2023, as compared to 57.8% in the same period of the prior year. The difference in gross margin as a percentage of sales reflects higher sales volume on relatively fixed costs, channel mix and product mix. Total operating expenses in the second quarter 2023 of $4.2 million were up approximately $724,000 as compared to $3.5 million in the second quarter of the prior year. R&D expenses were $1.7 million in the second quarter 2023 compared to $1.6 million in the second quarter of the prior year reflecting continued investment in the Company’s technology platform to support continued and future growth. Selling, general and administrative (“SG&A”) expenses were $2.5 million in the second quarter 2023 compared to $1.9 million in the second quarter of the prior year. The higher SG&A expenses are primarily a result of higher channel and incentive compensation and IT spending. Net income in the second quarter 2023 was $300,000, or $0.03 per diluted share, compared with a net loss of ($657,000), or ($0.08) per share, in the second quarter 2022. Included in net income is a foreign currency transaction gain of $196,000 for the second quarter of 2023 and $130,000 for the second quarter of 2022. Also included in net income is income tax expense for foreign subsidiaries of $109,000 for the second quarter of 2023 and $61,000 for the second quarter of 2022. Adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”), which excludes equity compensation, was $869,000 in the second quarter 2023, compared to Adjusted EBITDA of ($65,000) in the second quarter 2022. Data I/O’s balance sheet remained strong with cash at the end of the second quarter 2023 of $11.9 million, up from $11.5 million on December 31, 2022. The increase in cash from December 31, 2022 primarily reflects operating profitability, favorable foreign currency exchange rates and increased net interest income. Data I/O had net working capital of $18.0 million on June 30, 2023, up from $17.6 million on December 31, 2022. The Company continues to have no debt. CFO Succession As previously announced on June 30, Gerald Ng joined the Company as Vice President of Finance on July 1, 2023. Effective August 16, 2023, he will become Chief Financial Officer, succeeding Joel Hatlen who is retiring after 32 years with the Company. “We express deep appreciation for the key role Joel has played over 32 years at the company. Our employees, customers, partners and shareholders all hold him in the highest esteem. We wish Joel well in retirement,” concluded Mr. Ambrose. Financial Outlook for 2023 The Company provided a financial outlook for 2023 upon reporting year end 2022 results. The second quarter 2023 financial results affirm the improved visibility and ongoing strength in the Company’s primary end markets. For 2023, the Company now expects: Double-digit revenue growth for the year, consistent with the long-term double-digit semiconductor growth rate in the automotive electronics industry; Gross margins to be in the mid-to-high 50% range for the year; and Operating expenses for the year to be higher than 2022 primarily due to increased R&D spending, sales commissions, variable compensation and currency effects. Conference Call Information A conference call discussing financial results for the second quarter ended June 30, 2023 will follow this release today at 2 p.m. Pacific Time/5 p.m. Eastern Time. To listen to the conference call, please dial 412-317-5788. A replay will be made available approximately one hour after the conclusion of the call. To access the replay, please dial 412-317-0088, access code 9954796. The conference call will also be simultaneously webcast over the Internet; visit the Webcasts and Presentations section of the Data I/O Corporation website at www.dataio.com to access the call from the site. This webcast will be recorded and available for replay on the Data I/O Corporation website approximately one hour after the conclusion of the conference call. About Data I/O Corporation Since 1972, Data I/O has developed innovative solutions to enable the design and manufacture of electronic products for automotive, Internet-of-Things, medical, wireless, consumer electronics, industrial controls and other electronics devices. Today, our customers use Data I/O’s data programming solutions and security deployment platform to secure the global electronics supply chain and protect IoT device intellectual property from point of inception to deployment in the field. OEMs of any size can program and securely provision devices from early samples all the way to high volume production prior to shipping semiconductor devices to a manufacturing line. Data I/O enables customers to reliably, securely, and cost-effectively bring innovative new products to life. These solutions are backed by a portfolio of patents and a global network of Data I/O support and service professionals, ensuring success for our customers. See: dataio.com/Company/Patents. Learn more at dataio.com Forward Looking Statement and Non-GAAP financial measures Statements in this news release concerning economic outlook, expected revenue, expected margins, expected savings, expected results, expected expenses, orders, deliveries, backlog and financial positions, semiconductor chip shortages, supply chain expectations, as well as any other statement that may be construed as a prediction of future performance or events are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statement disclaimers also apply to the global COVID-19 pandemic, including the effects on the Company’s business from Shanghai’s COVID-19 lockdowns and recovery, impact on the demand for the Company’s products, and the Russian invasion of Ukraine including any related international trade restrictions. These factors include uncertainties as to the ability to record revenues based upon the timing of product deliveries, shipping availability, installations and acceptance, accrual of expenses, coronavirus related business interruptions, changes in economic conditions, part shortages and other risks including those described in the Company’s filings on Forms 10-K and 10-Q with the Securities and Exchange Commission (SEC), press releases and other communications. Non-GAAP financial measures, such as EBITDA and Adjusted EBITDA, excluding equity compensation, should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. We believe that these non-GAAP financial measures provide meaningful supplemental information regarding the Company’s results and facilitate the comparison of results. – tables follow – DATA I/O CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) (UNAUDITED) Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Net Sales $7,398 $4,769 $14,629 $9,734 Cost of goods sold 3,025 2,011 5,954 4,673 Gross margin 4,373 2,758 8,675 5,061 Operating expenses: Research and development 1,720 1,557 3,345 3,173 Selling, general and administrative 2,489 1,928 4,997 3,976 Total operating expenses 4,209 3,485 8,342 7,149 Operating income (loss) 164 (727) 333 (2,088) Non-operating income (loss): Interest income 49 1 84 2 Gain on sale of assets – – – 57 Foreign currency transaction gain (loss) 196 130 122 71 Total non-operating income (loss) 245 131 206 130 Income (loss) before income taxes 409 (596) 539 (1,958) Income tax (expense) benefit (109) (61) (144) (519) Net income (loss) $300 ($657) $395 ($2,477) Basic earnings (loss) per share $0.03 ($0.08) $0.04 ($0.29) Diluted earnings (loss) per share $0.03 ($0.08) $0.04 ($0.29) Weighted-average basic shares 8,904 8,709 8,861 8,665 Weighted-average diluted shares 9,075 8,709 9,052 8,665 DATA I/O CORPORATION CONSOLIDATED BALANCE SHEETS (in thousands, except share data) (UNAUDITED) June 30, 2023 December 31, 2022 ASSETS CURRENT ASSETS: Cash and cash equivalents $11,870 $11,510 Trade accounts receivable, net of allowance for doubtful accounts of $135 and $147, respectively 4,725 4,992 Inventories 6,868 6,751 Other current assets 847 645 TOTAL CURRENT ASSETS 24,310 23,898 Property, plant and equipment – net 989 1,072 Other assets 1,802 2,195 TOTAL ASSETS $27,101 $27,165 LIABILITIES AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES: Accounts payable $1,590 $1,366 Accrued compensation 1,723 1,670 Deferred revenue 1,363 1,575 Other accrued liabilities 1,542 1,596 Income taxes payable 91 112 TOTAL CURRENT LIABILITIES 6,309 6,319 Operating lease liabilities 1,087 1,500 Long-term other payables 218 237 COMMITMENTS – – STOCKHOLDERS’ EQUITY Preferred stock – Authorized, 5,000,000 shares, including 200,000 shares of Series A Junior Participating Issued and outstanding, none – – Common stock, at stated value – Authorized, 30,000,000 shares Issued and outstanding, 9,018,875 shares as of June 30, 2023 and 8,816,381 shares as of December 31, 2022 22,165 21,897 Accumulated earnings (deficit) (2,736) (3,131) Accumulated other comprehensive income 58 343 TOTAL STOCKHOLDERS’ EQUITY 19,487 19,109 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $27,101 $27,165 DATA I/O CORPORATION NON-GAAP FINANCIAL MEASURE RECONCILIATION Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (in thousands) Net Income (loss) $300 ($657) $395 ($2,477) Interest (income) (49) (1) (84) (2) Taxes 109 61 144 519 Depreciation and amortization 130 152 288 293 EBITDA earnings (loss) $490 ($445) $743 ($1,667) Equity compensation 379 380 628 671 Adjusted EBITDA, excluding equity compensation $869 ($65) $1,371 ($996) Contacts Joel Hatlen Data I/O Corporation Darrow Associates, Inc. Jordan Darrow (512) 551-9296 [email protected]

Sui Foundation has ended its relationship with the decentralized exchange MovEX following a breach of contract. The foundation alleged that MovEX had released a significant amount of SUI tokens – subject to a contractual lockup – into circulation. Sui Foundation Terminates Relationship With MovEX For Unlocking 2.5 Million Tokens On July 26, 2023, the Sui Foundation released a blog post, explaining the network’s token supply and the essence of its token release schedule. The foundation also announced the termination of its relationship with MovEX after breaching its token lockup contract. According to the foundation, early contributors to the network received SUI tokens that were subject to a lockup period – only to be released based on a preset schedule. MovEX was one of the recipients of this token allocation, collecting 2.5 million SUI tokens as payment for its contribution to the exchange product DeepBook. However, the decentralized exchange (DEX) was found to have violated the token lockup by moving its entire allotment of tokens in three (625,000 SUI) transactions to three separate wallets. At the time, these transactions raised questions about the Sui Foundation, with some tweets implying that the foundation “intentionally misrepresented” the token emissions schedule. The foundation denied these claims and has further clarified in its latest post that it didn’t consent to the three transactions by MovEX. As a result of these events, the Sui Foundation has cut off ties with the decentralized exchange. It also confirmed that no additional SUI tokens will be distributed to MovEX, nor will the DEX remain a contributor to DeepBook. “By July 3, upon Sui Foundation’s request, MovEX had moved the entire allotment of 2.5M tokens to a wallet at a qualified custodian who will release them according to the contractual lockup schedule in compliance with the previously released token emissions schedule,” the foundation noted. According to the analytics dashboard Token Unlocks, a total of 646.25 million SUI tokens have been unlocked so far, with the next unlocking event expected to take place on July 31. MovEX Addresses Community On Situation On Thursday, July 27, the team behind MovEX released a statement on Twitter, addressing its community on the situation. In the tweet, the project acknowledged that it received the SUI tokens – as claimed by the Sui Foundation. Related Reading: Short-Lived Hype: Worldcoin (WLD) Signups Dwindle Less Than A Week After Launch MovEX also stated that it transferred its entire allotment of SUI tokens to “custodian and non-custodian wallets”. While confirming that it has moved the tokens back to a qualified custodian, the DeFi protocol claims to understand the decision of the Sui Foundation. MovEX is a decentralized exchange native to the Sui network. According to the protocol’s whitepaper, it combines an automated market maker (AMM) and order book to create a hybrid liquidity DEX.

The crypto market witnessed heightened volatility last week, with most coins observing steep declines. However, today, June 27, the market has registered a slight recovery as most coins posted a few gains, but SOL’s gain is the most notable among all. Solana’s native token, SOL, recorded over 3% price growth over the past 24 hours, while others, like Bitcoin, barely crossed 1%, given the significant increase. The Ethereum killer is now number 9 among the top-gaining coins today. However, considering the steep volatility index, whether SOL bulls can sustain today’s rally remains uncertain. SOL Price Outlook Solana saw bearish days in June after the SEC listed it among tokens labeled as securities in its lawsuit against Binance and Coinbase. SOL’s price nosedived, dropping over 41% between June 3 and June 16. The asset’s price consolidated between $15 and $19 until July. Related Reading: Shibarium Bridge Goes Live In Beta But There’s A Catch However, SOL reached a monthly high of $29.31 on July 13 after news of Ripple’s win against the US SEC in the multi-year lawsuit circulated throughout the industry. Although the bearish momentum observed in the last seven days snatched some gains from the asset, its 30-day price movement remains bullish, with over 52% price growth. Solana has lost 2.33% of its market valuation over the past seven days before rebounding with notable gains today. On Thurdsay morning, SOL traded at $25.25, with a 3.71% 24-hour price increase. SOL-Based Investment Funds Skyrockets Following Heightened Regulatory Optimism SOL’s trading volume has increased in the last 24 hours. On July 26, SOL recorded a 57.07% increase in trading volume. This growth in trading activity suggests increased interest in SOL and SOL-related products. Following Ripple’s partial victory in the SEC’s securities lawsuit, Solana-based investment products have received massive attention from investors. According to CCData’s digital asset management review, Solana-based investment funds’ assets under management (AUM) increased in July. The report showed that most of the boost happened on July 14, a day after Judge Torres ruled that XRP token sales on the secondary market are not investment contracts. Judge Torres’ ruling acted as a point of reference to other assets, including SOL, marked as securities by the SEC. CCData’s report stated that the AUM for SOL-based investment products increased by 55.7% to $87.8 million in July. This observation could be attributed to SOL’s impressive performance over the past month. Solana DeFi Activity On Bullish Recovery Regulatory uncertainty and the FTX fiasco affected the sentiment around Solana-based dApps, dipping further into the Solana DeFi ecosystem. DeFi Llama data shows that Solana’s total value Locked (TVL) crumbled from a peak of $9.66 billion in November 2021 to less than $300 million in 2023. But with the partial resolution and the heightened optimism for a clearer regulatory atmosphere, Solana DeFi’s activities have improved. As of July 14, SOL TVL hit a yearly peak of approximately $1.1 billion before retracing to $313.9 million. A close look at the chart shows SOL TVL has witnessed a slight increase and now stands at $316 million. Chances that SOL will see a more bullish rebound following a total resolution of ongoing regulatory issues are high.

TREMITI ISLANDS, Italy–(BUSINESS WIRE)–#R5–Enry’s Island S.p.A. is pleased to announce that it has successfully finalised its listing on the Vienna Stock Exchange – MTF, supported by PwC Austria, becoming the first and only Venture Builder in the world listed on a Stock Exchange. “We are really proud of this incredible milestone,” says Luigi Valerio Rinaldi, Chairman & CEO of Enry’s Island, “made possible thanks to the trust of internationally qualified operators, such as PwC Austria, supporting us in the Financial Due Diligence and Valuation phase, to successfully finalise the listing process on the Vienna Stock Exchange.” The listing on the VSE consolidates the internationality of the equity story and the scale-up phase of Enry’s Island, one of the most interesting and innovative ecosystems on the global VC scene, explained by the following highlights: a distributed corporate architecture, which includes Enry’s Island and its 5 Local Companies (distributed in UK, US, Africa, Italy), with an average of 30 Companies (including portfolio startups). a unique holistic 3-layered framework, made of: Business Layer: Enry’s Model patented methodology, which later became the subject of economics manuals published by McGraw-Hill Software Layer: HUI.land, a Super-App Saas used by each of the companies and stakeholders of the ecosystem, through which to manage every business function and process in the entire dealflow (from origination to fundraising) Space Layer: Rinascimento5, the first phygital distributed coworking in the world, through which the community of Enry’s Island can operate fully remotely; an incredible growth in the quantity and quality of its economic, financial and equity indicators (increase in turnover of x2 in 2022 compared to 2021, which also continues in the first half of 2023, in which the turnover of 2022 has already been reached) a large trust of qualified international investors, such as LDA Capital, a Los Angeles based fund with $11B in portfolio, which closed a €20M A Round with Enry’s Island; a success rate of its portfolio companies of 95% against the market average of 5%; one of the first operators (not only among venture builders) to build its own headquarters in the metaverse, as early as 2021 and to have organised phygital investor days in the metaverse. Contacts Investor relations: [email protected] 0039 393 9774542