Fintech PR
FUCHS opens new, state-of-the-art plant in Ba Ria-Vung Tau, Vietnam
MANNHEIM, Germany, Sept. 15, 2023 /PRNewswire/ — The FUCHS Group, which operates globally in the lubricants industry, is opening a new plant in Ba Ria-Vung Tau, Vietnam. The investment of EUR nine million in the high-tech plant will enable FUCHS Vietnam to serve the growing demand for lubricants in this region. In addition, the range of FUCHS products in Vietnam will be expanded and diversified to suit the strong growth potential of the Vietnamese market. The official inauguration ceremony took place on September 14, 2023.
- Picture is available at AP (https://apmultimedianewsroom.com/multimedia-newsroom/partners/news-aktuell) –
The new plant covers an area of 20,000 m². The modern plant consists of offices, laboratory, production and filling, a tank farm and a warehouse. Currently, the plant has a capacity of 20,000 tonnes per year, which can be expanded in the second construction phase. The high-performance production portfolio includes automotive oils, industrial oils, metal working fluids and products for the mining industry. Production will start in the fourth quarter of 2023.
FUCHS has been active in Vietnam with a sales office since 2013. In 2021, the FUCHS Group acquired 70% of the lubricants business of STD & S Co., Ltd., a distributor of specialty lubricants based in Vietnam. The business was integrated into the subsidiary FUCHS LUBRICANTS VIETNAM COMPANY LTD. in which the owner of STD & S Co., Ltd. holds a 30% share. By the end of 2023, FUCHS LUBRICANTS VIETNAM will increase its workforce to 35 employees. In the fiscal year 2022 the company achieved sales in the mid single-digit million range.
FUCHS SE
Public Relations
E-Mail: [email protected]
+49 (0)621 – 3802-0
About FUCHS
Founded in 1931 as a family business in Mannheim, FUCHS is now the world’s largest independent supplier of innovative lubrication solutions, covering almost every industry and application. Today, the company’s 6,000 employees in over 50 countries still share the same goal: to keep the world moving both sustainably and efficiently.
View original content:https://www.prnewswire.co.uk/news-releases/fuchs-opens-new-state-of-the-art-plant-in-ba-ria-vung-tau-vietnam-301928303.html
Fintech PR
Ostium Launches Novel Macro Trading Platform Amidst Growth in Global Events-Based Trading
Enables Real-Time Trading of Traditional Assets During Historic Event-Driven Market Volatility and Adoption of Prediction Markets
LONDON, Oct. 18, 2024 /PRNewswire/ — Ostium Labs today announced the public mainnet launch of its onchain trading platform, offering traders unprecedented access to global macro markets during a period of global event-driven volatility, marked by speculation around the U.S. Presidential election. Ostium enables perpetuals trading on traditional market currencies, commodities, and indices in real time, markets uniquely affected by events like interest rate changes and geopolitical outcomes.
The trading platform meets the needs of a market grappling with an uncertain U.S. Presidential election, the prospect of escalation in the Middle East, and shifting monetary policies. These dynamics have led to dramatic price movements and dislocations in commodities and currencies, offering unique opportunities for traders chasing volatility. Gold, generally seen as a “flight-to-safety” asset, has skyrocketed past all-time highs as domestic political and economic uncertainty has increased dramatically over the last months. Ostium is the only platform to offer real-time trading across diverse assets including Gold, Copper, and Oil to any user with a crypto wallet.
“Our thesis has long been that this new, more volatile macro paradigm will open up unprecedented opportunities for event-driven trading,” said Kaledora Kiernan-Linn, co-founder and CEO of Ostium Labs. “The success of prediction markets as a forum for traders to express their views on world events is only the tip of the iceberg. Event-driven trading will expand beyond betting on event outcomes to betting on the movements of the most liquid markets in the world – the forex, commodities and global index markets – using event probabilities as critical trading signals.”
“Ostium is perfectly positioned to capitalize on the growing demand for macro event-driven trading,” said Marc Bhargava, Managing Director at General Catalyst. “By enabling one-click trades on traditional assets with only a wallet, Ostium is democratizing access to global markets in a way we haven’t seen before. This isn’t just another crypto play – it’s a gateway for traders to efficiently capitalize on macro news across traditional financial markets, all with the speed and accessibility of decentralized finance.”
Ostium’s novel approach has already captured traders’ attention during its private Mainnet phase since August:
- Ostium’s FX and commodities perpetuals volumes surged 550% during the week following China’s new Quantitative Easing policy announcement and rising Middle Eastern tensions (9/27-10/3)
- Open Interest on Ostium’s WTI Crude Oil perpetuals hit caps 6x in the 10 days following Iran’s ballistic missile attack on Israel and ensuing fears of a retaliatory strike on Iranian oil fields
- Ostium’s Real World Asset (RWA) volumes have outpaced crypto volumes 4x in recent weeks of macroeconomic instability, and 8x on days with heightened macroeconomic instability
“The next evolution of event-based trading isn’t about predicting outcomes in isolation, but understanding and capitalizing on how these events influence the world’s largest and most liquid markets,” Kiernan-Linn added. “We’re building a new trading experience where anyone can trade any strategy on any asset––all with just a wallet.”
Ostium leverages a unique design: a non-custodial, onchain perpetual futures market that disintermediates the centralized liquidity and exposure management characteristic of legacy FX/CFD brokers through the introduction of dynamic funding fees, allowing users to gain exposure to commodities, index and forex markets without the exchange managing the book. This innovative architecture positions Ostium to radically democratize access to macro-driven markets and compete against legacy, centralized FX/CFD brokers for the 80 million and growing monthly-active userbase, and the $50 trillion traditional asset retail trading market.
“A lesser known fact is that perpetuals are in fact quite similar to instruments that have been offered by FX brokers for years – cash-settled, non-expiring, synthetic primitives closely tracking the price of an underlying asset, enabling easy both long and short exposure – traded by over 50 million monthly active forex traders globally,” said Marco Antonio Ribeiro, co-founder and CTO of Ostium Labs. “However, onchain perpetuals are a fundamentally better instrument due to the introduction of funding rates, which incentivize market balance, and the ability to trade self-custodially, improving the adversarial market structure between platform and user. We strongly believe the retail FX trading market will be disrupted in the next 5 years and that it will be done by perps.”
Ostium’s shared liquidity model, unique fee architecture, and custom RWA price oracle facilitate perpetual creation on any asset with a liquid underlying off- or on-chain spot market. This flexible architecture enables rapid listing expansion across asset classes.
With its mainnet launch, Ostium aims to fill a critical gap for narrative-driven trading in the prosumer market. The platform’s ability to offer one-click, large-scale trades on macro events positions it as a leader in an underserved category. As global markets face increasing tumult, Ostium provides a novel platform to navigate and capitalize on these dynamic conditions, setting a new standard for accessible and flexible trading in an event-driven age.
For more information about Ostium and to start trading, visit www.ostium.io.
About Ostium:
Ostium is building Real World Asset perpetuals trading infrastructure to enable the ‘perpification’ of non-digital assets. The protocol leverages an in-house Real World Asset oracle network and pool-based on-chain liquidity engine to facilitate onchain exposure to traditional market assets. With founders and team members previously from Harvard, Bridgewater, and BlackRock, Ostium is backed by leading investors including LocalGlobe, General Catalyst, Susquehanna (SIG), and Alliance DAO.
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View original content:https://www.prnewswire.co.uk/news-releases/ostium-launches-novel-macro-trading-platform-amidst-growth-in-global-events-based-trading-302280187.html
Fintech PR
Kroll Liquidators Secured Multi-Million Dollar Settlement Between Emergent Fidelity Technologies and FTX Estate Approved by US Bankruptcy Court
NEW YORK, Oct. 18, 2024 /PRNewswire/ — Kroll, the leading independent provider of global financial and risk advisory solutions, announced today that a multi-million dollar settlement between the liquidators of Emergent Fidelity Technologies, Ltd. and the FTX Estate has been approved by the US Bankruptcy Court in Delaware. This settlement involves the recovery of 56 million shares in Robinhood Markets, Inc., acquired by Emergent in May 2022.
Emergent is an Antiguan entity controlled by former FTX executives Sam Bankman-Fried and Zixiao “Gary” Wang. Kroll’s liquidators of Emergent, Angela Barkhouse and Toni Shukla were originally appointed as Receivers over Emergent on an emergency basis to prevent assets from being sold and made inaccessible to the victims of Bankman-Fried’s scheme. The U.S. Department of Justice (DOJ) took control of the assets. The liquidators from Kroll worked with the DOJ to facilitate the repurchase of shares by Robinhood, securing over $626 million for the victims of the FTX scheme.
This settlement is part of the ongoing efforts to recoup assets back for the victims of Bankman-Fried’s scheme.
Angela Barkhouse, Head of Offshore Restructuring at Kroll commented, “The settlement is a significant step in the liquidation of Emergent Fidelity Technologies, Ltd., providing a fair and efficient resolution for all parties. It underscores our commitment to maximizing value and aims to resolve outstanding claims and facilitate the equitable distribution of assets to creditors.”
Advisors
Emergent is represented by the liquidators, Angela Barkhouse and Toni Shukla of Kroll, Morgan Lewis & Bockius LLP as legal counsel in the United States, Forbes Hare, and Lake Kentish & Bennett in Antigua, and David Joseph KC and Alex Riddiford of Essex Court Chambers as counsel.
About Kroll
As the leading independent provider of financial and risk advisory solutions, Kroll leverages our unique insights, data and technology to help clients stay ahead of complex demands. Kroll’s team of more than 6,500 professionals worldwide continues the firm’s nearly 100-year history of trusted expertise spanning financial, risk, governance, transactions and valuation. Our advanced solutions and intelligence provide clients the foresight they need to create an enduring competitive advantage. At Kroll, our values define who we are and how we partner with clients and communities. Learn more at kroll.com.
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Fintech PR
Race to the Top: Bybit Adds $1 Million to WSOT 2024 Prize Pool – Final Days to Register!
DUBAI, UAE, Oct. 18, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, makes another statement in rewarding excellence in trading. The exchange has added 1,000,000 USDT for top performing squads in the World Series of Trading (WSOT). This latest boost will reward 27 additional teams on the Squad Leaderboard and Regional Squad Leaderboards, giving more squads a better chance to claim exclusive rewards up to 10% of the total WSOT prize pool.
From now to Oct. 31, 10AM UTC, the best performing squads may get a head start in their race to unlock a 1,000,000 USDT prize pool. The prestigious prizes are reserved for elite players for a limited time only. Expanding the rewards spectrum for extraordinary yield seekers outside of the top ten and top three lists, the freshly unlocked prize pool gives more high-performing teams their due recognition, and a chance to secure bigger awards.
New Booster Prize Pool Breakdown
1.Squad Leaderboard by PnL(%)
- Ranks 11-20: 21,000 USDT per squad
- Ranks 21-30: 16,000 USDT per squad
2.Regional Squad Leaderboards by PnL(%)
- Ranks 4-10 in each region: 10,000 USDT per squad
WSOT 2024: Higher Stakes, Bigger Rewards
Squads leading the competition now face even higher stakes. The last ones standing in top positions throughout the remaining days stand to earn significantly more, thanks to the expanded prize structure.
Since its launch, WSOT has become the premier crypto trading competition, with one breakout year after another. In 2024, the total prize pool increased by 2,000,000 USDT, reaching a record 10,000,000 USDT, making WSOT not only the longest running competition of its kind in crypto, but also the most rewarding rendition by far. With 13 days remaining in the competition period of WSOT, over 70,000 participants have already unlocked more than 60% of the total pool as of Oct. 18.
Final registration for WSOT 2024 closes in two days. Sign up for crypto’s flagship trading competition for a chance to claim a share of the 10,000,000 USDT prize pool: WSOT 2024.
#Bybit / #TheCryptoArk / #WSOT2024
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
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View original content:https://www.prnewswire.co.uk/news-releases/race-to-the-top-bybit-adds-1-million-to-wsot-2024-prize-pool–final-days-to-register-302280264.html
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