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Animoca Brands Eyes IPO In Hong Kong or Middle East in 2025

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5 days ago

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Animoca Brands, the blockchain gaming and Web3 investment company, is exploring the possibility of going public as early as next year. The company is eyeing potential listings in Hong Kong or the Middle East. While preliminary discussions with investment banks have taken place, Siu noted that Animoca has not yet formally engaged any financial advisors for the process. This move signals the company’s ambitions for growth and its confidence in the expanding digital asset market.

Animoca Brands Exploring IPO Possibilities

According to a report from The Information on Wednesday, Animoca Brands is planning to go public in 2025. The company is considering listing either in Hong Kong or the Middle East, as stated by co-founder Yat Siu.

This move would represent a return to public markets for Animoca, over four years after its delisting from the Australian Securities Exchange due to accounting concerns. Both Hong Kong and the Middle East have positioned themselves as crypto-friendly hubs by developing regulations tailored to the needs of crypto companies, as part of broader efforts to attract tech firms and expand capital markets in these regions.

While the exact location for the initial public offering (IPO) has not been finalized, Animoca is known for its substantial investments in non-fungible tokens (NFTs) and crypto gaming companies, indicating a strong strategic direction for the potential public listing.

In addition, Web3 platform Redacted has secured $10 million in funding, led by Spartan Group with participation from Saison Capital, Animoca Brands, and Polygon Ventures. The company combines blockchain and AI to create an ecosystem where users can play games, trade, watch content, and earn rewards, all within a unified Web3 environment.

Also Read: German Govt Moves Another 595 BTC to Crypto Exchanges

Expanding The Web3 Ecosystem

Animoca Brands is making significant strides in the Web3 space with its ambitious projects. One of their major initiatives is the development of the Moca network, which is designed to be compatible with any decentralized app, wallet, or blockchain. This network already has the support of over 450 companies within Animoca’s ecosystem, targeting a vast user base of approximately 700 million individuals.

The company anticipates that as more partners and users join the Moca network, a snowball effect will occur, leading to increased resources, value creation, and community benefits. Additionally, Animoca is preparing to launch an NFT launchpad in Japan this summer, inviting enthusiasts and potential users to participate in this innovative venture.

Also Read: $6.6B in Bitcoin Options and $3.4B in Ethereum Options Expiring Soon, Will Prices Hit Max Pain Point?

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Binance Warns Of Delisting These Tokens, Price Drop Ahead?

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36 mins ago

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July 1, 2024

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Binance has issued a new warning that has taken the crypto community by storm. The leading cryptocurrency exchange announced plans to extend its Monitoring Tag to 11 tokens, putting them at risk of future delisting.

Meanwhile, tokens affected include Balancer (BAL), and Cortex (CTXC), among others, while Enzyme (MLN) and Horizon (ZEN) will be removed from the risk list. Notably, this development could signal potential price volatility for the affected tokens.

Binance Adds Monitoring Tag To 11 Tokens

Binance’s recent announcement about its Monitoring Tag has sent ripples through the crypto market. As of July 1, the exchange will add several tokens, including Balancer (BAL), Cortex (CTXC), and Convex Finance (CVX), to its Monitoring Tag list.

Meanwhile, as per the announcement, tokens with this tag are considered high-risk and are closely monitored for volatility and compliance with Binance’s listing criteria. The tokens newly added to the Monitoring Tag list are:

Balancer (BAL), Cortex (CTXC), PowerPool (CVP), Convex Finance (CVX), Dock (DOCK), Kava Lend (HARD), IRISnet (IRIS), MovieBloc (MBL), Polkastarter (POLS), Status (SNT), Sun (SUN).

In contrast, Enzyme (MLN) and Horizon (ZEN) will be removed from the Monitoring Tag list. This shift indicates a reassessment of the risks and stability associated with these tokens. However, Binance’s decision to tag these 11 tokens highlights their increased volatility and potential for not meeting the platform’s listing criteria in the future.

Meanwhile, according to Binance, the Monitoring Tag serves as a warning that the listed tokens are under scrutiny and may face delisting if they fail to meet specific standards. These standards include the project’s commitment, development activity, trading volume, network stability, public communication, and ethical conduct.

Binance emphasizes that the Monitoring Tag aims to maintain a healthy and sustainable cryptocurrency ecosystem.

Also Read: 900M SHIB Burn Sparks Optimism Over $0.00003 Price Target Ahead

Price Drop Ahead?

The introduction of the Monitoring Tag for these tokens has significant implications for investors. Historically, announcements of this nature from major crypto exchanges like Binance tend to impact market sentiment and token performance. Positive announcements usually boost market confidence, while warnings and potential delistings can weigh on investors’ sentiment.

Meanwhile, the affected tokens could experience increased price volatility and reduced trading volume as investors respond to the perceived risk. Tokens under the Monitoring Tag are also subject to additional trading restrictions on Binance.

In addition, users must complete a quiz every 90 days to trade these tokens, ensuring they understand the associated risks. This additional layer of scrutiny aims to protect users and promote informed trading decisions.

The announcement underscores the importance of due diligence in the rapidly evolving crypto market. Investors must stay informed about the status and compliance of their holdings, particularly in light of such warnings from leading exchanges. In other words, Binance’s criteria for the Monitoring Tag emphasize the importance of project transparency, network stability, and ethical conduct.

Also Read: Elon Musk Announces JARVIS-Inspired xAI Grok 2 AI Chatbot Release Date

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Rupam, a seasoned professional with 3 years in the financial market, has honed his skills as a meticulous research analyst and insightful journalist. He finds joy in exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor at Coingape, Rupam’s expertise goes beyond conventional boundaries. His contributions encompass breaking stories, delving into AI-related developments, providing real-time crypto market updates, and presenting insightful economic news. Rupam’s journey is marked by a passion for unraveling the intricacies of finance and delivering impactful stories that resonate with a diverse audience.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Japanese Tech Giant Sony Enters Crypto Exchange Business With This Acquisition

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4 hours ago

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July 1, 2024

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In the latest development, Japanese tech giant Sony has made a silent move into the crypto industry by acquiring crypto exchange Amber Japan. The Sony Group, a $100 billion conglomerate, now expands its business into crypto in addition to music, games, cameras, etc.

Sony’s Foray Into Crypto Industry

In his exclusive report, Chinese crypto reported Colin Wu reports that Amber Group stepped into the crypto space when the Singapore-based market maker Amber acquired Japan’s regulated crypto trading platform DeCurret in early 2022. Later, the Singapore-based group rebranded the firm as Amber Japan.

However, with the collapse of FTX in late 2022, Amberg Group started facing major financial difficulties and had to reportedly undergo a debt-to-equity transaction with Fenbushi Capital.

Some of the key investors in the Amber Group include notable entities such as Pantera Capital, Temasek, Tiger Global, Sequoia China, and Coinbase. Colin Wu reported that the acquisition of Amber by Sony signifies a strategic expansion into the crypto exchange field while leveraging its strong market position. It will be interesting to see whether Sony manages to turn the tide for the crypto exchange.

Also Read: BitFlyer Exchange Plans To Acquire FTX Japan

Japan’s Emerging Crypto Landscape

Japan’s crypto landscape has been changing pretty fast recently due to the major devaluation of the Japanese Yen and some monetary policies by the Bank of Japan. Last week, the Japanese Yen dropped to its lowest levels thereby driving more investors to adopt a Bitcoin strategy.

Similar to Microstrategy, Japanese firms like Metaplanet have started making Bitcoin a part of their treasury. Through the bond sale, Metaplanet has announced its plans to buy $7 million worth of Bitcoins.

Metaplanet is also bolstering its presence in the cryptocurrency market by establishing a new subsidiary in the British Virgin Islands. This move is part of its broader strategy to enhance its Bitcoin investment approach and increase its Bitcoin reserves, aligning with its long-term financial goals.

Also Read: Aptos Collaborates With Alibaba to Transform Asia’s Web3 Landscape

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Mark Cuban and ChatGPT Predicts Best Pick

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7 hours ago

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July 1, 2024

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American businessman Mark Cuban decided to get the opinion of ChatGPT on the recent Presidential debate between President Joe Biden and Donald Trump. The opinion of the Artificial Intelligence (AI) features only their responses. 

ChatGPT Spots Joe Biden’s Empathy

According to Cuban, he pasted a transcript of the debate on the OpenAI chatbot, asking who is best fitted to receive a job. 

The result provided by ChatGPT was based on a few metrics including communication skills, clarity, problem-solving abilities, and overall professionalism. On this basis and from a hiring perspective, an analysis was provided. 

For Biden, ChatGPT noted that he has extensive experience in public service which must have translated into a deep understanding of governmental processes. Also, the current President of the United States was identified as one with empathy and social awareness. In the AI tool’s opinion, such attributes suggest that he is concerned about community impact.

On the flip side, the ChatGPT result says Biden’s response during the debate was rather unclear and fragmented. Unfortunately, this raises concerns about his ability to communicate effectively, particularly in a professional setting. 

His responses were also found to lack focus and consistency as he meandered off-topic at some point. 

The Donald Trump Assertiveness

Per the analysis, Donald Trump appeared assertive and confident in his communication. This reflects good leadership qualities that give a person strong command. ChatGPT highlighted that Trump emphasized economic achievements and tax policies in his responses during the debate. This suggests that he has business acumen and is focused on economic performance.

However, Trump exaggerated several points while trying to make his argument, per ChatGPT’s result. This gives him off as a person who may not be reliable or accurate in communication. In addition, it was discovered that he avoided providing specific information, plans, or solutions to most of the questions posed to him. This is perceived as a shortcoming on his part.

Based on both attributes, ChatGPT decided that Biden is more suited for roles that involve empathy, experience, and social awareness. Trump, on the other hand, may have to stick with jobs requiring assertiveness, confidence, and a focus on economic performance. 

Beyond these factors, the coming election is considered one that might be decided by crypto alignment. Some key proponents of Web3.0 believe that Trump will be a better choice than Biden, especially for the sake of the betterment of the crypto industry. 

Read More: Vitalik Buterin Shares Big Take On US Crypto Regulation Flaws

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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