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Bybit Institutional Report 2024: Institutions Become Bullish and Eye Challenger Chains, while VC Funding Resurges for Infrastructure, Gaming, and AI
DUBAI, UAE, April 18, 2024 /PRNewswire/ — Bybit, one of the world’s top three crypto exchanges by volume, partnered with Treehouse, the industry-leading research institute that offers professional insights into digital assets, and co-launched its 2024 Institutional Industry Report. It provides an extensive analysis of the current state of crypto adoption worldwide, examining how it compares to traditional finance (TradFi).
During the period from October 2023 to March 2024, the crypto sector experienced a significant surge in value, with its market cap increasing from slightly above $1 trillion to over $2.5 trillion by the end of March. This upward trajectory reflects growing investor confidence and a substantial influx of capital into the crypto ecosystem.
Delving deeper into the findings, the report reveals bullish trends in the derivatives market, along with indications of increasingly aggressive on-chain activities for BTC and ETH. It also explores institutions’ investment behaviors through on-chain metrics and highlights growing interest in AI and BTC ecosystem projects.
Additionally, the report investigates the potential long-term impacts of ETFs and offers insights into what can be expected from the upcoming bitcoin halving event, as well as key themes highlighted for a 2024 bull run which is beginning to show early signs of upticking.
Institutional Focus Areas: Key Highlights
1. Derivatives market becoming increasingly bullish
Examining the long-term call-put skews over the 30 days in March 2024 reveals a notably bullish sentiment despite the relatively sideways movement in the market during March, with both BTC and ETH generally exhibiting a large call premium.
This trend suggests that investors maintain a generally bullish outlook on the long-term price potential of these two crypto majors toward the end of the year.
2. Bitcoin as the perfect TradFi hedge
Both BTC and ETH’s correlations with traditional indices, equity, or fixed income, remain below 3% in all instances. Of particular note, BTC specifically demonstrates negative correlations of returns with major equity indices, indicating its potential role as a diversification hedge for equity-focused portfolios.
With a modest 5% allocation into BTC and ETH (equally weighted), the S&P 500’s Sharpe ratio can be increased from 2.20 to 3.15, representing a 43.6% increase. This effect becomes more pronounced as investors willingly take on additional risks and allocate more capital to their crypto portfolios.
3. Renewed Interest toward challenger chains
Since the beginning of Q4 2023, native tokens of challenger chains have experienced significant performance as compared to ETH. For example, SOL emerged as the top performer among these challenger tokens, continuing the trend observed in 2021 as the biggest challenger chain by TVL and transaction volume.
4. Boosting funding: infrastructure, gaming, and AI projects
Venture Capital (VC) funding in the crypto industry has seen a significant resurge. In Q4 2023, VC deal counts rose by 21% to reach 174 deals, with disclosed funding reaching $1.42 billion, a 29% increase. In Q1 2024, there were 243 deals with disclosed funding totaling $1.94 billion, representing a further 36% increase compared to Q4 2023.
Infrastructure projects remain the primary focus of VC investments, attracting substantial capital to support the foundational elements of the blockchain ecosystem. These projects span various sectors, including hardware wallets and blockchain data providers, offering crucial solutions to address industry challenges and drive innovation.
As the traditional market integrates with crypto, it presents constant challenges for TradFi participants and newcomers to navigate through the heightened complexities. Staying informed is crucial to stay ahead in this evolving landscape.
To read the full report, visit: https://learn.bybit.com/crypto-insights/bybit-institutional-x-treehouse-crypto-landscape-in-q1-2024-analysis-narratives/
#Bybit / #TheCryptoArk
About Bybit
Bybit is one of the world’s top three crypto exchanges by volume with over 25 million users. Established in 2018, Bybit offers 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.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
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Capify, a UK-based online lender catering to small and medium-sized enterprises (SMEs), has secured a £100 million credit facility to support its lending activities.
Capify, an online lender specializing in SMEs, has recently announced securing a substantial £100 million credit facility with Pollen Street Capital, a UK-based alternative asset manager.
John Rozenbroek, serving as Capify’s CFO and COO, expressed enthusiasm for the new multi-year facility. He highlighted its role in expanding the lending capacity for SMEs ready to receive funding, while also enabling Capify to pursue its growth objectives. Rozenbroek emphasized the company’s commitment to enhancing platforms and customer experiences, aiming to streamline processes and accelerate decision-making for brokers and SMEs.
This achievement follows Capify’s previous success in securing a £75 million credit facility with Goldman Sachs in 2019.
Established in the US in 2002, Capify has since expanded its operations to Australia and the UK in 2008. The company offers a range of financial products, including merchant cash advance (MCA) and business loans, allowing merchants to repay their loans through manageable instalments.
David Goldin, the Founder and CEO of Capify, described the new credit facility as another significant milestone for the company. He emphasized that it underscores the strength of Capify’s business model and its commitment to providing swift, adaptable, and responsible support to SMEs in both the UK and Australia.
Source: fintechfutures.com
The post Capify, a UK-based online lender catering to small and medium-sized enterprises (SMEs), has secured a £100 million credit facility to support its lending activities. appeared first on HIPTHER Alerts.
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APPRO Extends Partnership With Silent Eight To Enhance Their Already World-Class Compliance Offerings
SINGAPORE, May 1, 2024 /PRNewswire/ — APPRO, a digital powerhouse that simplifies the onboarding journey in retail banking, proudly announces the successful expansion of its strategic partnership with Silent Eight, marking a continuation of their shared commitment to accuracy, efficiency and real-time decision-making capabilities in their Name Screening programs.
Silent Eight enables the fight against financial crime with AI-powered detection and alert closure solutions across Name Screening, Transaction Screening and Transaction Monitoring.
Embracing the early integration of AI-driven automation into their financial crime programs, APPRO strategically fosters sustained agility and growth across the UAE.
“APPRO is thrilled to expand our partnership with Silent Eight. The early adoption of AI-driven automation is a testament to our dedication to robust yet agile management of our financial crime programs in the UAE’s fintech landscape. Preventing financial crime is of utmost importance to us and this strategic move positions us to deliver even more value to our clients.” Iftekhar Salim, CEO, APPRO.
“Silent Eight is proud of our continued collaboration with APPRO and are honored to be a part of their mission. We look forward to continuing to enable them for many years to come.” Matthew Leaney, CRO, Silent Eight
About APPRO
APPRO is a digital powerhouse that enables customers to cut through layers of daunting processes by offering an easy, paperless and hassle-free way of solving financial problems and getting access to the funds needed.
Partnered with leading banks such as Standard Chartered, HSBC and Arab Bank, APPRO offer an easy and quick credit application process that makes the on-boarding journey a breeze.
About Silent Eight
Silent Eight is a technology company that partners with financial institutions to create solutions blending the best of humans and the best of technology. Leveraging artificial intelligence Silent Eight’s Automated Alert Closure replicates human reasoning and decision making based on historical data and continuous learning. Silent Eight enables financial institutions to reduce false positives, increase accuracy, and enhance auditability of their compliance operations.
Silent Eight works with some of the largest banks and insurance companies in the world, including Standard Chartered, HSBC, First Abu Dhabi Bank and Emirates NBD. Silent Eight is headquartered in Singapore and has offices in New York, London, Warsaw, and Bangalore.
Photo – https://mma.prnewswire.com/media/2401721/Silent_Eight_APPRO.jpg
View original content:https://www.prnewswire.co.uk/news-releases/appro-extends-partnership-with-silent-eight-to-enhance-their-already-world-class-compliance-offerings-302132105.html
QUEBEC, April 30, 2024 /PRNewswire/ — LeddarTech Holdings Inc. (“LeddarTech” or the “Corporation”) (Nasdaq: LDTC), an automotive software company that provides patented disruptive AI-based low-level sensor fusion and perception software technology, LeddarVision™, for ADAS, AD and parking applications, announces the voting results of its annual general and special meeting of shareholders held on April 30, 2024. Shareholders voted on various proposals and elected directors to the board.
Key Highlights of the Meeting
1. Election of Directors: The full slate of eight directors was elected to serve until the next annual meeting of shareholders or until a successor is elected or appointed.
|
Nominee |
Votes For |
% of Voted |
Votes Against |
% of Voted |
|
FrantzSaintellemy |
23,750,091 |
99.92 % |
18,864 |
0.08 % |
|
Charles Boulanger |
23,684,010 |
99.64 % |
84,945 |
0.36 % |
|
Derek Aberle |
23,751,414 |
99.93 % |
17,541 |
0.07 % |
|
Nick Stone |
23,749,634 |
99.92 % |
19,321 |
0.08 % |
|
Michelle M. Sterling |
22,661,485 |
95.34 % |
1,107,470 |
4.66 % |
|
YannDelabrière |
23,750,042 |
99.92 % |
18,913 |
0.08 % |
|
SylvieVeilleux |
23,745,998 |
99.90 % |
22,957 |
0.10 % |
|
LizabethArdisana |
23,744,718 |
99.90 % |
24,237 |
0.10 % |
2. Approval of Auditor: The appointment of Richter LLP as auditors of the Corporation was approved, and the board of directors of the Corporation was authorized to fix the auditors’ remuneration.
|
Votes For |
% of Voted |
Votes Withheld |
% of Voted |
|
24,399,690 |
99.77 % |
56,493 |
0.23 % |
3. Other
3.1 The issuance of warrants to purchase up to 449,013 common shares of the Corporation to certain former and continuing directors of LeddarTech Inc. (as a predecessor to the Corporation) was approved and ratified.
|
Votes For |
% of Voted |
Votes Against |
% of Voted |
|
18,146,903 |
76.35 % |
5,622,052 |
23.65 % |
3.2 An amendment to By-law No. 1 so as to provide the chair with a second or “casting vote” at meetings of the Corporation’s board of directors was approved and ratified.
|
Votes For |
% of Voted |
Votes Against |
% of Voted |
|
21,472,893 |
90.34 % |
2,296,062 |
9.66 % |
For further details on each of these matters, please refer to the Corporation’s management information circular dated March 18, 2024, available on SEDAR+ at www.sedarplus.ca/ and EDGAR at www.sec.gov/. Final voting results on all matters voted on at the meeting will be posted on the Investor Relations section of LeddarTech.com and filed on SEDAR+ at www.sedarplus.ca/ and EDGAR at www.sec.gov/.
About LeddarTech
A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.
LeddarTech is responsible for several remote-sensing innovations, with 160 patent applications (87 granted) that enhance ADAS, AD and parking capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.
Additional information about LeddarTech is accessible at www.LeddarTech.com and on LinkedIn, Twitter (X), Facebook and YouTube.
Contact:
Daniel Aitken, Vice-President, Global Marketing, Communications and Investor Relations, LeddarTech Holdings Inc. Tel.: + 1-418-653-9000 ext. 232 [email protected]
- Investor relations website: investors.LeddarTech.com
- Investor relations contact: Kevin Hunt, ICR Inc. [email protected]
- Financial media contact: Dan Brennan, ICR Inc. [email protected]
Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Holdings Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
LeddarTech Holdings Inc. is a public company listed on the Nasdaq under the ticker symbol “LDTC.”
View original content:https://www.prnewswire.co.uk/news-releases/leddartech-reports-annual-shareholder-meeting-results-302132328.html
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