Cryptocurrency Market Rebounds Ahead of 2018 Tax Deadline Day

Loading...
Loading...

Cryptocurrency Market Rebounds Ahead of 2018 Tax Deadline Day

FinancialBuzz.com News Commentary

PR Newswire

NEW YORK, April 17, 2018 /PRNewswire/ --

The Initial Coin Offerings market is thriving in the first quarter of 2018 despite the overall decline of cryptocurrency prices. According to data from Coinschedule, companies had raised more than 5 billion in 165 ICOs since the beginning of this year. In 2016, about 95 million was raised through 43 ICOs projects. In 2017, the total number of ICOs reached 164, raising more than $3.8 billion. Encrypted messaging service Telegram's ICO is the biggest initial coin offering in 2018, raising $1.7 billion, while the communications sector raised the most funds through ICOs in 2018. Victory Square Technologies Inc. VSQTF, Seven Stars Cloud Group, Inc. SSC, Overstock.com, Inc. OSTK, Net Element, Inc. NETE, International Business Machines Corporation IBM

The overall cryptocurrency market rebounded last week. One of the factors that drove the sudden surge in cryptocurrency price was considered to be the approach of tax day. The cryptocurrency market was under pressure in recent weeks in part due to a tax-related sell-off. The deadline to file taxes was April 17. According to CNN, Ryan Taylor, CEO of Dash Core, which provides software used by Dash traders, said "The selling pressure associated with tax day has subsided right now…As people get their tax returns, there may be new money entering the market."

Victory Square Technologies Inc. VSQTF also listed on the Canadian Securities Exchange under the Ticker VST. The company just announced breaking news this morning that, "Subject to all requisite regulatory approvals, Victory Square Technologies Inc. will acquire 9.09% of all issued and outstanding shares of LocoNoco Inc. ("LocoNoco"), a cloud-native decision-making platform, for $500,000 USD in total consideration (the "Purchase Price"). Pursuant to a definitive share purchase agreement executed between the Company and LocoNoco, the Purchase Price will be paid and satisfied by the Company through cash installments totaling $500,000 USD.

LocoNoco is a decision-making platform that offers simplicity, reusability and transportability in an era of smart, automated processes. Its proprietary framework makes it possible for developers to work collaboratively on Robotic Process Automation (RPA), smart contracts and AI on a global scale.

"LocoNoco is set to capitalize on the emerging big trends of decentralization and automation of business processes. Its platform opens up new markets to these technologies and helps developers monetize their work through new licensing models. LocoNoco is in alpha release with several clients and will be launched to a broad market later this year," stated LocoNoco CEO, Louis-Victor Jadavji.

"Victory Square is pleased to announce an investment into LocoNoco, a decision-making platform that makes it simple for developers to work with RPA, smart contracts and AI," said Shafin Diamond Tejani, CEO of Victory Square. "The entire team has a tremendous track record of executing on large scale opportunities and are set to embark on ambitious growth plans."

"This investment, along with others we have made thus far in 2018, are aligned with our thesis at Victory Square that emerging technologies such as AI and Blockchain will bring major changes to traditional business models," continued Tejani.

LocoNoco's founding team has scaled up other venture-backed businesses, including Vancouver-based Wiivv, and has experience raising venture capital from the Getty Trust, Vertex, Real Ventures, and Evonik. The LocoNoco team hails from Atlassian, Slack, Grow, and other leading technology companies. LocoNoco CEO, Louis-Victor Jadavji, is a Forbes 30 Under 30 honoree, and LocoNoco Vice President of Product, Jason Kim, was previously the Head of Product at a KPMG Top 100 Fintech company.

"The Victory Square team represents some of the brightest minds when it comes to decentralization and working with emerging technology ecosystems," said Louis-Victor Jadavji. "With our focus on making automation accessible to new markets, it was necessary for our team to have a financial partner like Victory Square that understands the capital requirements of a platform-play and can mentor our team through various growth phases."

Seven Stars Cloud Group, Inc. SSC together with Delaware Board of Trade ATS, LLC ("DBOT"), jointly announced the first and only blockchain based Alternative Trading System ("ATS"), has optimized its DBOT ATS platform with SSC's Next Gen X's global issuance and trading capabilities. The newly branded trading platform, operational and live Wednesday, February 14, will be branded as: DBOT ATS, Powered By Next Gen X.  DBOT ATS LLC is regulated by FINRA. Seven Stars Cloud's Next Gen X, will "power" DBOT by bringing global digital funding opportunities, offerings and liquidity to the DBOT platform through secondary trading.  

Overstock.com, Inc. OSTK fintech subsidiary announced the terms for its purchase of a 24 percent ownership stake in StockCross Financial Services, Inc. in February. The investment in StockCross adds a key partner with the custodial and clearing functionality of a U.S. DTCC member firm to tZERO's trading ecosystem. In a separate transaction, tZERO purchased a 1 percent ownership interest in Kennedy Cabot Acquisition, LLC, the controlling owner of Siebert. As a result of tZERO's ownership in Kennedy Cabot Acquisition, LLC, tZERO will own beneficially approximately an additional 200,000 shares of Siebert. tZERO's beneficial ownership of Siebert shares will total approximately 1.4 million shares or 5.3 percent of Siebert's outstanding shares. t0.com, Inc. is a majority owned subsidiary of Overstock.com, focusing on the development and commercialization of financial technology (fintech) based on cryptographically-secured, decentralized ledgers - more commonly known as blockchain technologies. Since its inception, tZERO has pioneered the effort to bring greater efficiency and transparency to capital markets through the integration of blockchain technology. More information is available at tZERO.com.

Net Element, Inc. NETE operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise ("SME") in the U.S. and selected emerging markets. In the U.S. it aims to grow transactional revenue by innovating SME productivity services using blockchain technology solutions and Aptito, our cloud based, restaurant and retail point-of-sale solution. Recently, the company announced that Mr. Jon Najarian has joined Net Element's board of directors and will serve as a member of the Company's Audit, Compensation, Nominating and Corporate Governance committees. Najarian is a professional investor, money manager and media analyst. He is a co-founder of Investitute, LLC, the industry leading options education firm that recently launched "Crypto Basics," new educational course which covers the basics of cryptocurrency, blockchain technology, altcoins and Initial Coin Offerings (ICOs). Najarian is also a host of the International ICO Channel, a part of CoinBoost, whose goal is to bridge the divide between blockchain and mainstream media by offering distribution to traditional financial media outlets.

International Business Machines Corporation IBM is recognized as the leading enterprise blockchain provider. Earlier this year, IBM and Maersk announced their intent to establish a joint venture to provide more efficient and secure methods for conducting global trade using blockchain technology. The aim of the new company will be to offer a jointly developed global trade digitization platform built on open standards and designed for use by the entire global shipping ecosystem. It will address the need to provide more transparency and simplicity in the movement of goods across borders and trading zones. Maersk, a global leader in container logistics, and IBM, a leading provider of blockchain, supply chain visibility and interoperability solutions for the enterprise, will use blockchain technology to power the new platform, as well as employ other cloud-based open source technologies including artificial intelligence (AI), IoT and analytics, delivered via IBM Services, in order to help companies move and track goods digitally across international borders. Manufacturers, shipping lines, freight forwarders, port and terminal operators and customs authorities can all benefit from these new technologies -and ultimately consumers.

Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com  

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For victory square technologies inc. financial news dissemination and PR services, FinancialBuzz.com expects to be compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com .

For further information:
Media Contact: info@financialbuzz.com , +1-877-601-1879

SOURCE FinancialBuzz.com

Loading...
Loading...
Posted In: FintechOpinionPress Releases
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!
fintech-banner
Fintech Focus Newsletter

Your update on what’s going on in the Fintech space. Keep up-to-date with news, valuations, mergers, funding, and events. Sign up today!


Loading...